Black Diamond Therapeutics, Inc. (BDTX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+520.8%

$10.86

vs $1.75 price

Levered DCF

$6.23

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

-3.44

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	6.23×	-1.69×	-1.49×	-0.71×	-1.54×	-15.71×	-34.33×	-61.69×
P/B	1.23×	1.41×	1.06×	0.56×	0.98×	3.43×	-30.06×	-35.44×
P/S	1.97×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	5.99×	-1.49×	-1.13×	-0.65×	-1.24×	-15.31×	-43.13×	-63×
Gross margin	99.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	28.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	32.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	8.42×	4.92×	6.82×	8.37×	9.12×	22.48×	32.02×	20.07×
Debt / equity	0.17×	0.27×	0.22×	0.24×	0.15×	0.03×	0×	-3.91×
Interest coverage	0×	0×	0×	0×	0×	-69,570×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.9%	-83.7%	-70.6%	-78.8%	-64.1%	-21.9%	74.8%	57.5%
Return on invested capital	15.2%	-74.7%	-60.9%	-64.5%	-56.5%	-22.0%	-5.8%	-18.0%
Return on assets	15.6%	-56.8%	-52.0%	-58.3%	-50.7%	-20.4%	-22.3%	-17.2%
Free cash flow yield	21.4%	-52.9%	-54.0%	-130.8%	-53.3%	-5.0%	-1.7%	-1.5%
Earnings yield	16.2%	-59.2%	-66.7%	-139.8%	-65.1%	-6.4%	-2.5%	-1.6%
Enterprise value	$136M	$103.5M	$92.6M	$59M	$155.5M	$1B	$1.3B	$559.9M
Net debt / EBITDA	-0.1×	0.21×	0.38×	0.07×	0.3×	0.38×	5.28×	-1.03×
Cash conversion cycle (days)	-650	0	-1,941	0	0	0	-15,252	-3,451