BNR vs ICLR Stock Comparison

Burning Rock Biotech and Icon Prices as of Oct 26, 2026 Peers: Industry group
BNR Burning Rock Biotech Ltd
$11.15 -40.1% 1M -14.6% 1Y
Market cap
$105.66M
P/E
–
Revenue (TTM)
$72.00M
Div. yield
–
Diagnostic Labs Healthcare
1 win
ICLR Icon Plc
$183.78 +6.6% 1M +3.2% 1Y
Market cap
$14.37B
P/E
43.7x
Revenue (TTM)
$8.33B
Div. yield
–
Contract Research Healthcare
8 wins

Head to Head

9 decided of 12

Icon leads on 8 of the 12 questions below (Icon 8, Burning Rock Biotech 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBNRICLRLeader
Larger companyMarket capitalisation $105.66M $14.37B ICLR
Cheaper on earningsLower P/E, profitable companies only -10.8x 43.7x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 3.3x 17.9x BNR
Faster revenue growthRevenue growth, trailing twelve months -3.9% +3.7% ICLR
More profitableNet margin, trailing twelve months -13.6% 3.9% ICLR
Better return on capitalReturn on invested capital -12.3% 1.3% ICLR
Less leveragedLower net debt / EBITDA — 3.5x –
Higher dividend yieldTrailing dividend yield 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -14.6% +3.2% ICLR
Better 5-year returnAnnualised price return, 5 years -40.0%/yr -8.2%/yr ICLR
Less volatileAnnualised volatility, 1 year 127.9% 73.8% ICLR
Higher overall scoreMean of the five percentile scores vs peers 56/100 69/100 ICLR

Percentile Scorecard

BNRICLR

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBNRICLR
Valuation 39 #57 of 93 90 #2 of 11
Growth 72 #25 of 88 30 #8 of 11
Profitability 28 #63 of 87 80 #3 of 11
Financial Health 83 #18 of 100 75 #4 of 13
Shareholder Returns – –
Overall 56 69
  • BNR ranked among 103 companies in Healthcare Providers
  • ICLR ranked among 13 companies in Pharma Services

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBNRICLRSPY
1 month -40.1%+6.6% -0.8%
3 months +18.6%+8.9% +3.5%
6 months -41.5%+78.1% +7.0%
Year to date -44.7%+0.9% +12.2%
1 year -14.6%+3.2% +13.0%
3 years +5.7%-21.9% +86.3%
3 years, per year +1.9%-7.9% +23.1%
5 years -92.2%-34.8% +68.6%
5 years, per year -40.0%-8.2% +11.0%
10 years —+125.7% +258.0%
10 years, per year —+8.5% +13.6%

Risk

MeasureBNRICLRSPY
Volatility, 1Y 127.9%73.8% 12.7%
Downside volatility, 1Y 125.5%87.9% 12.7%
Beta vs S&P 500, 1Y 1.981.45 1.00
Return / volatility, 1Y -0.110.04 1.02
Max drawdown, 5Y -98.6%-76.9% -25.4%
From 52-week high -72.8%-9.4% -1.8%
52-week high $41.06$202.92 $779.14
52-week low $7.04$80.08 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBNRICLR
P/E now vs peer median -10.1xmedian 25.1x 43.8xmedian 36.5x
P/S now vs peer median 1.6xmedian 1.6x 1.7xmedian 2.7x
EV/EBITDA now vs peer median —median 14.5x 23.5xmedian 37.7x
P/FCF now vs peer median -60.6xmedian 22.4x 15.9xmedian 20.7x
P/B now vs peer median 1.6xmedian 3.1x 1.5xmedian 2.9x
PEG now vs peer median -0.18median 0.66 -3.55median 2.04

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBNRICLR
Revenue $72.00M $8.33B
Gross profit $53.66M $2.01B
Operating income -$9.36M $325.64M
Net income -$11.22M $69.55M
Free cash flow -$1.93M $883.82M
R&D $19.39M –
EPS (diluted) $-0.92 $4.16
Cash & equivalents $61.43M $928.39M
Total debt $1.09M $13.60B
Shares (diluted) 10.63M 78.97M
Enterprise value -$153.98M $11.48B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBNRICLR
P/E -10.1x 43.8x
P/FCF -60.6x 15.9x
P/Operating cash flow -60.6x 13.2x
P/S 1.6x 1.7x
P/B 1.6x 1.5x
P/Tangible book 1.6x 2.3x
EV/EBITDA – 23.5x
EV/EBIT -6.0x 50.8x
EV/Revenue 0.8x 2.0x
EV/FCF -29.0x 18.7x
EV/Operating cash flow -29.0x 15.5x
PEG (3Y EPS CAGR) -0.18 -3.55

Growth

14 metrics
MetricBNRICLR
Revenue growth (1Y) -3.9% 3.7%
Revenue CAGR (3Y) -4.7% 1.8%
Gross profit growth (1Y) -0.7% -11.5%
Gross profit CAGR (3Y) -2.7% -4.7%
Operating income growth (1Y) 54.6% -66.6%
Operating income CAGR (3Y) 56.1% -28.0%
Net income growth (1Y) 43.6% -91.0%
Net income CAGR (3Y) 52.7% -48.5%
EPS growth (1Y) 51.7% -59.0%
EPS CAGR (3Y) 55.6% -12.3%
Operating cash flow growth (1Y) 92.5% -7.4%
Operating cash flow CAGR (3Y) 67.4% 26.1%
Free cash flow growth (1Y) 86.5% -10.7%
Free cash flow CAGR (3Y) 67.4% 32.4%

Profitability

14 metrics
MetricBNRICLR
Gross margin 74.5% 24.2%
EBITDA margin – 8.4%
Operating margin -13.0% 3.9%
Pretax margin -13.3% 1.6%
Net margin -13.6% 3.9%
FCF margin -2.7% 10.6%
Operating cash flow margin -2.7% 12.8%
Return on equity -15.1% 6.4%
Return on assets -10.0% 3.7%
Return on invested capital -12.3% 1.3%
Return on capital employed -11.7% 2.6%
Asset turnover 0.6x 0.5x
Cash conversion (OCF / net income) 0.2x 15.4x
Stock comp / revenue – 1.4%

Financial Health

11 metrics
MetricBNRICLR
Debt / assets 0.2% 20.7%
Debt / equity 0.0x 0.4x
Net debt / EBITDA – 3.5x
Debt / FCF -0.1x 3.8x
Liabilities / assets 33.8% 42.8%
Equity / assets 66.2% 57.2%
Interest coverage – 1.7x
Current ratio 3.1x 1.0x
Quick ratio 2.8x 0.6x
Cash ratio 1.9x 0.2x
Altman Z-score -5.04 1.96

Shareholder Returns

7 metrics
MetricBNRICLR
Dividend yield – –
Net buyback yield – 1.7%
Shareholder yield – 1.7%
Payout ratio (earnings) – –
Payout ratio (FCF) – –
Dividend growth (1Y) – –
Dividend CAGR (3Y) – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBNRICLR
Forward P/E 3.3xFY2026 17.9xFY2026
EPS, next fiscal year $3.38FY2026 $10.25FY2026
EPS growth, next FY – -18.2%FY2026
EPS growth, the year after – +22.2%
Revenue, next fiscal year $171.24MFY2026 $8.52BFY2026
Revenue growth, next FY +121.9%FY2026 +3.2%FY2026
Revenue growth, the year after – -3.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBNRICLR
Held by institutions 16.5% 100.0%
Institutions holding 17 422
Change in shares held, QoQ +1.5% +5.5%
Institutions buying 9 233
Institutions selling 4 138
Buyers to sellers 2.25 1.69

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BNRICLR
BNR 1.00 0.04
ICLR 0.04 1.00

Add a Peer

Largest companies in the same industry

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Frequently Asked Questions

Which is bigger, BNR and ICLR?

Icon (ICLR) is the largest by market capitalisation: Burning Rock Biotech (BNR) $105.66M, Icon (ICLR) $14.37B.

Which company is growing faster?

Icon (ICLR) grew revenue fastest over the trailing twelve months: Burning Rock Biotech (BNR) -3.9%, Icon (ICLR) +3.7%.

Which company is more profitable?

Icon (ICLR) has the highest net margin (Burning Rock Biotech (BNR) -13.6%, Icon (ICLR) 3.9%). On return on invested capital, Icon (ICLR) leads (Burning Rock Biotech (BNR) -12.3%, Icon (ICLR) 1.3%).

Which stock has performed better?

Over the past year Icon (ICLR) returned the most: Burning Rock Biotech (BNR) -14.6%, Icon (ICLR) +3.2%. Over five years, Icon (ICLR) compounded fastest (Burning Rock Biotech (BNR) -40.0%/yr, Icon (ICLR) -8.2%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Icon (ICLR) has been the steadiest (Burning Rock Biotech (BNR) 127.9%, Icon (ICLR) 73.8%). Volatility measures how widely the price swings, not the risk of the business.

Do BNR and ICLR move together?

Their daily returns over the past year have a correlation of 0.04, a weak relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, BNR and ICLR?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Icon (ICLR) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.