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BioNTech SE

BNTX
14
Biotechnology · Healthcare
Price
$89.67
-1.62 (-1.77%)
Market Cap
$22.50B
Exchange
NASDAQ
Winston Score
14
Winston is worried
Weak fundamentals across most pillars.
Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
1/30
Growth
Weak
2/20
Cash Flow
Mixed
3/10
Stability
Good
5/10
Valuation
Data not available
0/10
Ownership
Weak
2/15
Dividends
Not counted
n/a

13 of 95 counted points = Winston Score 14. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count falling — buybacks

−6.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 259.7M (2021) → 241.7M (2025)

§Winston Score History

The full picture

BioNTech is a German biotechnology company that develops medicines using a technology called mRNA, which teaches the body's cells to fight diseases. It became widely known for co-developing the COVID-19 vaccine with Pfizer, which was sold to governments and healthcare systems around the world. The company is also working on cancer treatments, flu vaccines, and other infectious disease drugs.

BioNTech earns money mainly through royalties and profit-sharing from its Pfizer partnership, plus direct product sales. It is headquartered in Mainz, Germany, and operates globally, though most of its revenue has historically come from COVID-19 vaccine demand, which has dropped sharply since the pandemic peak. The company is sitting on a large cash reserve built during the vaccine boom, and its key growth driver is whether its personalized cancer vaccine pipeline — particularly its mRNA-based cancer immunotherapy candidates — can reach approval and generate meaningful commercial revenue before that cash runs out.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-59.5% YoY

YoY Growth Rate

Revenue declining

Reported EPS Growth

-102.5% YoY

Quarterly reporting periods ended:

30 Jun 2025: €-1.60

30 Jun 2026: €-3.24

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

€2.0B/ year

↓ Declining (-10% vs prior year)

73.3% of revenue

4.1x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

€11.7B cash & investments at current burn rate

Revenue declining

BioNTech SE's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
8.1%
Thin — 8.1% gross margin
Profit after running costs
Operating Margin
-897.8%
Losing money on operations — -897.8%
Return on the money invested
ROCE
-10.5%
Weak — -10.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-8.2%
Shrinking sales (-8.2% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
19.6%
Converts sales into free cash efficiently (19.6%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.02
Conservative — low debt load (0.02)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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