BNTXNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
BioNTech SE
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Mar 10, 2026
$89.21+1.50 (+1.71%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
77.6%−10.1 pts over 5 years
Operating margin
-49.0%−31.9 pts over 5 years
Net margin
-39.6%−42.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.3% | -45.1% | +42.9% | – | |
| Gross profit | +0.8% | -46.2% | +39.4% | – | |
| Free cash flow | – | -72.3% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on assets | – | 1.0% | -5.1% | |
| Current ratio | – | 2.75 | 7.54 | |
| Net debt to EBITDA | – | 22.20× | – | |
| Interest coverage | – | -1.3× | -20.1× | |
| Inventory turnover | – | 1.6× | 3.3× | |
| Capex to revenue | – | 13.7% | 6.1% | |
| Diluted shares | – | 249M | 242M |
Where the cash went
Fiscal 2021 to 2025, five years combined
BioNTech generated €20.50B from operations and spent €1.65B on capital expenditure, dividends and share buybacks. 71% of that went back into the business.
Generated
€20.50B
Used
€1.65B
Capital expenditure€1.17B71%Dividends€484.30M29%Share buybacks€00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-164.9%
×Asset turnover0.15×
×Equity multiplier1.91×
=Return on equity, FY2019-47.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2019 | -164.9% | 0.15× | 1.91× | -47.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-€1.14B
- Cash generatingOperating cash flow above zero€456.00M
- Return on assets improvedROA up on the prior year-2.9% → -5.0%
- Earnings backed by cashOperating cash flow above net income€456.00M vs -€1.14B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose7.45 → 7.54
- No dilutionShare count did not rise240M → 242M
- Gross margin improvedGross margin up on the prior year80.32% → 77.64%
- More efficientAsset turnover rose0.12 → 0.13