Bio-Techne Corporation

TECH · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989
Valuation
Market cap	$11,008	$7,838	$11,291	$12,852	$13,600	$17,693	$10,377	$8,193	$5,814	$4,617	$4,431	$3,869	$3,415	$2,567	$2,741	$3,092	$2,140	$2,412	$3,029	$2,254	$1,988	$1,853	$1,783	$1,256	$1,156	$1,348	$2,641	$510	$361	$284	$294	$129	$96	$135	$75	$54	$22	$10
Enterprise value	$11,032	$8,120	$11,558	$13,102	$13,678	$17,890	$10,539	$8,532	$5,971	$4,809	$4,469	$3,875	$3,064	$2,234	$2,472	$2,952	$2,001	$2,209	$2,823	$2,089	$1,893	$1,771	$1,622	$1,156	$1,077	$1,269	$2,601	$481	$333	$276	$287	$123	$90	$131	$73	$53	$22	$10
P/E (TTM) at period end	60.54×	106.84×	67.18×	45.06×	50.01×	126.09×	45.30×	85.37×	46.13×	60.74×	42.44×	35.92×	30.78×	22.80×	24.40×	27.54×	19.49×	22.92×	29.25×	26.48×	27.11×	28.02×	33.69×	27.67×	42.59×	39.58×	99.34×	30.55×	23.74×	26.07×	34.18×	19.19×	18.75×	30.73×	37.50×	33.75×	21.87×	25.87×
P/S (TTM) at period end	9.06×	6.43×	9.74×	11.31×	12.30×	19.00×	14.05×	11.47×	9.04×	8.20×	8.88×	8.56×	9.54×	8.26×	8.71×	10.67×	7.95×	9.14×	11.77×	10.09×	9.81×	10.37×	11.06×	8.66×	8.83×	11.68×	25.43×	5.61×	5.36×	4.67×	5.38×	2.69×	2.37×	4.71×	3.36×	2.80×	1.39×	0.83×
P/B at period end	5.22×	4.09×	5.46×	6.54×	7.99×	11.32×	7.51×	7.03×	5.39×	4.86×	5.04×	4.57×	4.29×	3.48×	4.06×	5.28×	4.26×	5.28×	6.22×	5.15×	5.84×	6.92×	5.99×	5.31×	5.60×	7.59×	18.71×	5.27×	5.66×	5.91×	7.56×	4.36×	4.16×	7.60×	6.70×	8.57×	4.76×	3.34×
EV / EBITDA (TTM)	31.59×	38.27×	36.30×	32.26×	34.40×	55.04×	43.89×	37.94×	29.76×	26.63×	23.11×	21.03×	17.13×	179.00×	13.83×	17.19×	12.17×	13.93×	18.63×	15.93×	16.40×	17.05×	18.37×	15.60×	16.43×	21.68×	50.02×	13.00×	14.19×	15.66×	20.32×	11.10×	9.55×	16.00×	14.24×	19.56×	12.04×	–
EV / Sales (TTM)	9.08×	6.66×	9.97×	11.53×	12.37×	19.22×	14.27×	11.95×	9.29×	8.54×	8.96×	8.57×	8.56×	7.19×	7.86×	10.18×	7.44×	8.37×	10.97×	9.35×	9.34×	9.91×	10.06×	7.97×	8.22×	11.00×	25.04×	5.29×	4.95×	4.52×	5.25×	2.58×	2.23×	4.57×	3.26×	2.74×	1.38×	0.80×
Returns
Return on equity	8.6%	3.8%	8.1%	14.5%	16.0%	9.0%	16.6%	8.2%	11.7%	8.0%	11.9%	12.7%	14.0%	15.3%	16.7%	19.2%	21.9%	23.1%	21.3%	19.4%	21.6%	24.7%	17.8%	19.2%	13.1%	19.2%	18.8%	17.3%	23.8%	22.7%	22.1%	22.7%	22.2%	24.7%	17.9%	25.4%	21.7%	12.9%
Return on invested capital	8.9%	3.5%	8.0%	11.2%	14.0%	12.5%	7.8%	8.0%	10.5%	6.8%	11.2%	11.3%	22.4%	0.0%	20.6%	21.8%	26.9%	34.6%	30.3%	27.1%	27.1%	32.0%	20.1%	20.6%	19.2%	18.6%	18.5%	19.1%	39.5%	26.4%	26.4%	27.1%	31.5%	33.8%	28.2%	31.4%	24.4%	14.8%
Dividend yield	0.5%	0.6%	0.4%	0.4%	0.4%	0.3%	0.5%	0.6%	0.8%	1.0%	1.1%	1.2%	1.3%	1.7%	1.5%	1.3%	1.8%	1.2%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	4.55×	3.46×	3.87×	4.84×	3.44×	3.35×	4.88×	4.05×	5.01×	2.57×	4.69×	6.24×	17.79×	12.76×	9.69×	12.67×	11.81×	16.46×	12.77×	12.38×	8.34×	9.63×	15.67×	13.83×	8.82×	7.81×	6.87×	3.77×	7.91×	8.12×	6.66×	6.78×	5.81×	6.25×	4.83×	3.00×	2.83×	2.79×
Debt / equity	0.10×	0.18×	0.15×	0.18×	0.15×	0.22×	0.26×	0.43×	0.31×	0.36×	0.11×	0.09×	0.01×	–	–	–	–	–	–	–	0.04×	0.05×	0.05×	0.07×	0.09×	0.11×	0.14×	–	–	–	–	–	–	–	0.19×	0.13×	0.24×	0.19×
Effective tax rate	24.4%	25.5%	9.5%	15.7%	12.7%	5.8%	17.1%	14.2%	(0.2%)	32.0%	29.2%	30.1%	31.3%	29.9%	30.7%	31.9%	29.8%	32.3%	32.7%	34.0%	34.0%	33.8%	35.9%	34.7%	28.1%	28.8%	32.6%	36.0%	32.1%	31.9%	31.7%	30.2%	29.2%	32.3%	39.4%	27.3%	28.6%	33.3%
Share count
Diluted shares outstanding	157	160	161	162	164	162	158	156	152	150	149	149	148	148	148	149	149	152	157	158	158	164	167	168	170	171	169	165	157	156	156	153	146	147	133	128	133	126

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989
Revenue and gross profit
Revenue	$1,215	$1,215	$1,220	$1,159	$1,137	$1,106	$931	$739	$714	$643	$563	$499	$452	$358	$311	$315	$290	$269	$264	$257	$223	$203	$179	$161	$145	$131	$115	$104	$91	$67	$61	$55	$48	$40	$29	$22	$19	$16	$12
Cost of revenue	($416)	($416)	($429)	($389)	($367)	($349)	($298)	($255)	($241)	($211)	($188)	($162)	($145)	($106)	($79)	($79)	($65)	($55)	($56)	($53)	($47)	($46)	($37)	($35)	($35)	($33)	($28)	($23)	($25)	($18)	($17)	($17)	($17)	($15)	($12)	($10)	($9)	($7)	($6)
Gross profit	$799	$799	$790	$770	$770	$756	$633	$483	$473	$432	$375	$337	$307	$251	$231	$236	$225	$214	$208	$205	$177	$157	$142	$126	$110	$98	$87	$81	$66	$50	$44	$38	$31	$25	$17	$13	$10	$8	$6
Operating expenses
Research and development	($95)	($95)	($99)	($97)	($92)	($87)	($71)	($65)	($62)	($55)	($54)	($45)	($41)	($31)	($29)	($28)	($26)	($25)	($24)	($22)	($20)	($19)	($18)	($21)	($21)	($17)	($15)	($11)	($12)	($11)	($12)	($10)	($9)	($6)	–	–	–	–	–
Selling, general and administrative	($452)	($452)	($589)	($466)	($378)	($373)	($325)	($261)	($264)	($241)	($200)	($141)	($119)	($61)	($43)	($42)	($36)	($33)	($34)	($37)	($31)	($28)	($24)	($22)	($19)	($20)	($18)	($17)	($17)	($15)	($15)	($13)	($11)	($9)	($9)	($8)	($8)	($7)	($6)
Total operating expenses	($547)	($547)	($688)	($563)	($471)	($460)	($396)	($326)	($327)	($296)	($254)	($186)	($160)	($92)	($231)	($70)	($62)	($58)	($57)	($60)	($53)	($48)	($44)	($44)	($42)	($46)	($41)	($41)	($41)	($28)	($29)	($25)	($22)	($18)	($10)	($9)	($8)	($7)	($6)
Total costs and expenses	($963)	($963)	($1,117)	($952)	($838)	($809)	($694)	($581)	($567)	($507)	($442)	($348)	($305)	($198)	($310)	($148)	($127)	($113)	($113)	($113)	($99)	($94)	($81)	($79)	($77)	($78)	($70)	($64)	($66)	($46)	($46)	($42)	($38)	($33)	($22)	($18)	($17)	($14)	($12)
Operating income	$252	$252	$102	$207	$299	$297	$237	$157	$147	$136	$121	$151	$147	$160	$0	$166	$163	$156	$151	$144	$124	$109	$98	$82	$68	$53	$46	$39	$25	$21	$15	$12	$9	$8	$7	$4	$2	$2	$1
Earnings
EBITDA	$349	$349	$212	$318	$406	$398	$325	$240	$225	$201	$181	$193	$184	$179	$12	$179	$172	$164	$159	$152	$131	$115	$104	$88	$74	$66	$59	$52	$37	$24	$18	$14	$11	$9	$8	$5	$3	$2	–
Interest income	$4	$4	$4	$3	$3	$1	$0	$1	$1	$0	$0	$0	$1	$3	$3	$3	$4	$4	$8	$12	$8	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($10)	($10)	($9)	($16)	($11)	($11)	($14)	($19)	($22)	($10)	($7)	($2)	($2)	–	–	–	–	–	–	–	($1)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$241	$241	$98	$186	$339	$301	$148	$276	$112	$126	$112	$147	$154	$161	$161	$162	$165	$156	$155	$154	$129	$111	$100	$83	$70	$38	$48	$39	$26	$22	$16	$13	$10	$7	$6	$3	$2	$1	$1
Income tax expense	($59)	($59)	($25)	($18)	($53)	($38)	($9)	($47)	($16)	$0	($36)	($43)	($46)	($50)	($48)	($50)	($53)	($47)	($50)	($50)	($44)	($38)	($34)	($30)	($24)	($11)	($14)	($13)	($9)	($7)	($5)	($4)	($3)	($2)	($2)	($1)	($1)	($0)	($0)
Net income	$182	$182	$73	$168	$285	$272	$140	$229	$96	$126	$76	$104	$108	$111	$113	$112	$112	$110	$105	$104	$85	$73	$66	$53	$45	$27	$34	$27	$17	$15	$11	$9	$7	$5	$4	$2	$2	$1	$0
Per share
Diluted EPS (GAAP)	$1.16	$1.16	$0.46	$1.05	$1.76	$1.66	$0.87	$1.46	$0.6175	$0.8275	$0.5075	$0.70	$0.7225	$0.75	$0.7625	$0.76	$0.755	$0.735	$0.695	$0.66	$0.54	$0.46	$0.40	$0.32	$0.27	$0.16	$0.20	$0.16	$0.10	$0.0969	$0.07	$0.0553	$0.0437	$0.035	$0.03	$0.015	$0.0125	$0.0075	$0.0032
Basic EPS (GAAP)	$1.17	$1.17	$0.47	$1.07	$1.81	$1.73	$0.91	$1.50	$0.635	$0.84	$0.51	$0.7025	$0.725	$0.7525	$0.765	$0.76	$0.7575	$0.7375	$0.695	$0.66	$0.54	$0.47	$0.41	$0.32	$0.27	$0.16	$0.21	$0.16	$0.10	$0.10	$0.0725	$0.0553	$0.044	$0.035	$0.03	$0.015	$0.0125	$0.0075	$0.0032
Basic shares outstanding	156	156	158	158	157	157	155	153	151	150	149	149	148	148	147	148	148	149	151	157	158	156	161	164	165	166	166	163	161	152	150	156	152	146	147	133	128	133	126
Margins
Gross margin	65.8%	65.8%	64.8%	66.4%	67.7%	68.4%	68.0%	65.4%	66.3%	67.2%	66.5%	67.5%	67.9%	70.3%	74.4%	75.0%	77.6%	79.6%	78.8%	79.5%	79.1%	77.4%	79.4%	78.4%	75.6%	75.2%	75.4%	77.5%	72.5%	73.6%	72.1%	68.7%	64.8%	62.3%	58.9%	57.0%	53.9%	53.5%	51.2%
Operating margin	20.7%	20.7%	8.4%	17.8%	26.3%	26.8%	25.5%	21.3%	20.5%	21.2%	21.4%	30.2%	32.5%	44.7%	0.1%	52.8%	56.2%	58.1%	57.1%	56.1%	55.6%	53.6%	54.7%	51.0%	46.7%	40.4%	39.7%	37.9%	27.6%	31.5%	25.1%	22.3%	19.7%	18.9%	24.0%	18.4%	11.4%	9.6%	4.8%
Net margin	15.0%	15.0%	6.0%	14.5%	25.1%	24.6%	15.1%	31.0%	13.5%	19.6%	13.5%	20.9%	23.8%	31.0%	36.2%	35.7%	38.7%	40.8%	39.9%	40.2%	38.1%	36.2%	37.0%	32.8%	31.3%	20.7%	29.5%	25.6%	18.4%	22.6%	17.9%	15.8%	14.0%	12.7%	15.3%	9.0%	8.3%	6.4%	3.2%

Analyst consensus

Hold26 analysts

Bearish · 0 · Hold · 14 · Bullish · 12

Earnings history

	EPS	Estimate
Q1 2025	$0.42	$0.38	Beat
Q2 2025	$0.42	$0.39	Beat
Q3 2025	$0.56	$0.51	Beat
Q4 2025	$0.53	$0.50	Beat
Q1 2026	$0.42	$0.42	Match
Q2 2026	$0.46	$0.43	Beat
Q3 2026	$0.53	$0.55	Miss
Q4 2026	$0.52	$0.52	Match

Peers

Company overview

IPO dateFeb 9, 1989

CEOKim Kelderman

Employees3,000

SectorHealthcare

IndustryBiotechnology

CountryUS

ExchangeNASDAQ

Websitewww.bio-techne.com

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Spatial Biology. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies. This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids. The Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications; and sells products for genetic carrier screening, oncology diagnostics, molecular controls, and research, as well as instruments and process control products for hematology, blood chemistry and gases, and coagulation controls and reagents used in various diagnostic applications. The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014. Bio-Techne Corporation was incorporated in 1976 and is headquartered in Minneapolis, Minnesota.

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