Bio-Techne Corporation logo TECH - Bio-Techne Corporation

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BUY 18
HOLD 7
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| PRICE TARGET: $60.33 DETAILS
HIGH: $79.00
LOW: $49.00
MEDIAN: $56.00
CONSENSUS: $60.33
UPSIDE: 25.14%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 1,219.6 1,159.1 1,136.7 1,105.6 931.0 738.7 714.0 643.0 563.0 499.0 452.2 357.8 310.6 314.6 290.0 269.0 264.0 257.4 223.5 202.6 178.7 161.3 145.0 130.9 115.4 103.8 90.9 67.3 60.9 54.6 47.7 40.3 28.7
Cost of Revenue 429.4 389.3 366.9 349.1 298.2 255.5 240.5 210.8 188.5 162.4 145.0 106.4 79.5 78.8 65.0 54.5 55.5 52.9 46.7 45.7 36.8 34.9 35.4 32.5 28.4 23.3 25 17.8 17 17.1 16.8 15.2 11.8
Gross Profit 790.3 769.7 769.8 756.5 632.9 483.2 473.5 432.1 374.5 336.7 307.3 251.4 231.1 235.8 224.9 214.6 208.5 204.5 176.8 156.9 141.8 126.4 109.6 98.4 86.9 80.5 65.9 49.5 43.9 37.5 30.9 25.1 16.9
Operating Expenses
R&D Expenses 99.5 96.7 92.5 87.1 70.6 65.2 62.4 55.3 53.5 45.2 40.9 30.9 29.3 27.9 26.0 25.1 23.6 22.4 20.1 18.8 18.4 20.8 20.6 17.5 14.5 11.2 12 10.6 11.7 10.4 8.6 6.5 0
SG&A Expenses 415.1 393.3 352.4 339.0 289.9 240.9 264.4 240.6 199.2 140.9 119.4 60.7 43.4 41.7 35.9 32.2 33.2 36.7 31.0 27.6 24.5 21.7 19.4 19.6 17.7 17.3 16.9 15.4 14.6 13 11.2 9.2 8.7
Other Expenses 173.4 73.1 25.9 33.8 35.0 19.7 0 0 0 0 0 0 0.8 0.7 0 1.0 1.0 1.1 1.6 2.0 1.2 1.6 1.9 8.5 8.9 12.7 11.9 2.3 2.3 1.9 1.7 11 10
Operating Expenses 688.0 563.0 470.9 459.9 395.6 325.8 326.8 296.0 252.8 186.1 160.3 91.7 74.8 71.7 61.9 58.3 57.7 60.2 52.7 48.4 44.1 44.1 41.9 45.6 41.1 41.2 40.8 28.3 28.6 25.3 21.5 17.5 10
Operating Income
Operating Income 102.3 206.7 298.9 296.6 237.3 157.4 125.6 136.2 121.8 150.6 147.0 159.8 158.5 166.2 163.1 156.3 150.8 144.3 124.2 108.5 97.8 82.3 67.7 52.8 45.8 39.3 25.1 21.2 15.3 12.2 9.4 7.6 6.9
Interest Expense 8.5 15.7 11.2 11.3 14.0 19.2 21.7 10.2 7.4 1.7 1.5 0 0 0 0 0 0 0 1.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 3.9 3.3 3.4 0.8 0.5 0.6 0.6 0.4 0.3 0.2 0.6 2.7 2.6 2.6 3.8 4.4 7.6 12.2 8.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 216.9 313.1 457.1 413.8 249.9 378.4 211.9 200.6 179.4 192.0 192.9 180.6 173.0 174.7 173.7 164.6 158.5 151.5 137.0 115.5 103.9 88.3 74.1 65.5 58.5 52.0 37 23.5 17.6 14.1 11.1 9.4 8.2
EBIT 107.0 201.4 349.9 312.7 162.1 295.7 133.7 136.1 119.3 149.2 155.7 161.4 160.7 164.1 160.8 154.1 150.8 144.3 130.0 108.5 97.8 82.3 67.7 52.8 45.8 39.3 25.1 21.2 15.3 12.2 9.4 7.6 6.9
Income Before Tax 98.5 185.7 338.7 301.4 148.2 276.5 112.0 126.0 113.2 147.5 154.2 161.4 160.7 162.2 165.0 156.4 155.4 153.8 128.9 111.2 99.9 82.5 69.6 37.7 47.8 39.4 26.1 22.4 16 12.6 9.6 7.2 6.5
Income Tax Expense 25.1 17.6 53.2 38.3 8.6 47.2 15.9 (0.6) 35.9 43.0 46.4 50.4 48.1 49.9 52.7 46.7 50.1 50.3 43.8 37.8 33.8 29.6 24.2 10.6 13.8 12.8 9.4 7.2 5.1 4 2.9 2.1 2.1
Net Income 73.4 168.1 285.3 272.1 140.4 229.3 96.1 125.3 77.3 104.5 107.7 110.9 112.6 112.3 112.3 109.8 105.2 103.6 85.1 73.4 66.1 52.9 45.4 27.1 34.0 26.6 16.7 15.2 10.9 8.6 6.7 5.1 4.4
Per Share Data
EPS (Basic) 0.47 1.07 1.81 1.73 0.91 1.50 0.64 0.84 0.52 0.70 0.73 0.75 0.76 0.76 0.76 0.74 0.70 0.66 0.54 0.47 0.41 0.32 0.27 0.16 0.21 0.16 0.10 0.10 0.07 0.06 0.04 0.04 0.03
EPS (Diluted) 0.46 1.05 1.76 1.66 0.87 1.45 0.62 0.82 0.52 0.70 0.72 0.75 0.76 0.76 0.76 0.73 0.69 0.66 0.54 0.46 0.40 0.32 0.27 0.16 0.20 0.16 0.10 0.10 0.07 0.06 0.04 0.04 0.03
Shares Outstanding 157.5 157.7 157.2 156.9 155.0 152.8 151.1 149.9 149.3 148.8 148.4 147.6 147.3 147.8 148.4 149.0 151.2 156.6 157.6 156.2 161.4 164.2 165.5 166.0 165.8 162.5 160.9 151.6 150.3 155.5 152.4 145.7 146.7
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 162.2 151.8 180.6 172.6 199.1 146.6 100.9 122.0 91.6 64.2 160.9 167.0 51.2 39.4 26.4 21.3 17.4 12.8 27.4 8.6 7.4 5.3 5.9 4
Short-Term Investments 0 1.1 23.7 74.5 32.5 124.3 65.1 59.8 66.1 31.6 41.9 39.4 125.4 78.1 70.7 75.8 42.5 16.3 0 0 0 0 0 0
Net Receivables 206.9 241.4 218.5 194.5 145.4 122.5 137.5 120.3 116.8 93.4 31.2 33.3 21.1 20.4 21.3 18.3 18.9 13.5 10 9.1 8.4 7.4 6.6 4.8
Inventory 189.4 179.7 171.6 141.1 116.7 103.2 91.0 85.6 60.2 57.1 11.3 9.5 7.5 6.3 6.1 5.4 4.7 5.7 3.8 4.1 3.7 3.3 2.5 1.7
Other Current Assets 49.8 43.4 27.1 22.9 16.9 24.3 18.1 10.7 13.3 7.6 9.3 8.4 4.8 4.2 3.8 2.7 2.9 2.6 17.3 18 13.8 11.8 5.9 4.5
Total Current Assets 608.3 617.4 621.5 605.6 510.6 520.9 412.6 398.4 345.3 253.9 255.5 258.4 210.9 149.5 129.1 124.2 86.3 50.9 58.5 39.8 33.3 27.8 20.9 15
Non-Current Assets
Property, Plant & Equipment 319.1 342.4 324.5 288.8 281.7 248.3 154.0 145.3 135.1 132.4 100.1 101.7 80.5 81.2 70.3 49.2 46.3 15.1 11.7 11.3 9 4.3 4.4 3.7
Goodwill 980.9 972.7 872.7 822.1 843.1 728.3 732.7 597.9 579.0 430.9 25.1 25.1 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 365.6 507.1 534.6 531.5 616.0 516.5 579.4 446.3 452.0 310.5 3.0 4.0 15.4 17.0 18.9 27.4 36.3 45.6 0.3 0.4 0.6 0.8 1.1 1.7
Long-Term Investments 251.0 242.3 255.9 0 0 0 (89.8) 2.7 40.4 (62.8) 84.0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 22.6 21.9 29.4 46.8 11.3 13.5 5.7 (83.7) (117.0) 1.9 0.8 113.1 10.8 6.9 10.6 10.6 11.5 12.2 2.4 2.4 1.5 1.2 0.4 0
Total Non-Current Assets 1,949.6 2,086.4 2,017.2 1,689.2 1,752.4 1,506.7 1,471.8 1,194.8 1,211.4 875.6 216.5 248.9 114.5 113.8 109.2 91.3 94.1 72.9 14.4 14.1 11.1 6.3 5.9 5.4
Total Assets 2,557.9 2,703.9 2,638.7 2,294.8 2,263.0 2,027.6 1,884.4 1,593.2 1,556.7 1,129.5 472.0 507.4 325.5 263.3 238.2 215.5 180.4 123.8 72.9 53.9 44.4 34.1 26.8 20.4
Current Liabilities
Account Payables 25.3 38.0 25.7 33.9 29.4 23.1 16.2 18.5 16.9 20.7 7.5 6.1 3.8 2.2 4.3 3.5 2.6 2.4 3.2 1.6 1.7 2.2 1.9 0.6
Short-Term Debt 0 0 0 12.5 12.5 12.5 12.5 0 0 3.8 0 0 1.3 1.2 0.9 0.9 0.8 0 0 0 0 0 0 0
Deferred Revenue 32.6 27.9 23.1 23.4 19.0 13.0 9.1 7.1 6.0 4.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 1.6 2.2 1.4 1.2 3.9 0 3.4 21.4 65.1 1.8 0 0 4.9 7.4 9.4 11.5 9.1 11.1 4.2 3.3 3.3 1.9 1.7 1.8
Total Current Liabilities 175.8 159.4 128.5 176.0 152.3 106.7 102.0 78.7 135.4 54.1 15.5 20.2 13.5 10.8 14.6 15.9 12.6 13.5 7.4 4.9 5 4.1 3.6 2.4
Non-Current Liabilities
Long-Term Debt 346 319 350 243.4 328.8 344.2 492.7 339 343.8 91.5 0 0 14.6 15.9 17.1 18.1 18.9 0 0 0 0 0 0 0
Deferred Tax Liabilities 6.2 55.9 89.0 99.0 93.1 101.1 89.8 86.3 118.0 62.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1
Other Non-Current Liabilities 27.1 13.2 10.9 17.2 49.9 27.1 33.1 9.3 129.3 104.7 0 0 0 0 0 3.9 7.8 13.5 1.7 0.9 0.5 0.5 0.2 0.1
Total Non-Current Liabilities 463.2 475.6 543.7 417.8 539.4 539.7 616.8 435.4 470.5 196.1 0 0 14.6 15.9 17.1 22.0 26.7 13.5 1.7 0.9 0.5 0.5 0.2 0.2
Total Liabilities 639.1 635.0 672.2 593.8 691.7 646.4 718.8 514.1 605.8 250.2 15.5 20.2 28.0 26.7 31.7 37.9 39.3 27 9.1 5.8 5.5 4.6 3.8 2.6
Stockholders' Equity
Common Stock 1.6 1.6 1.6 1.6 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.2 0.2 0 0 0 0 0 0
Retained Earnings 1,066.0 1,325.2 1,309.5 1,122.9 1,085.5 1,057.5 931.9 876.9 799.0 770.6 345.6 359.2 222.7 169.8 147.4 121.2 88.3 62.1 49.4 34.9 27.2 20.7 14.7 9.6
Accumulated Other Comprehensive Income (59.9) (78.3) (66.1) (75.2) (57.3) (97.2) (83.5) (44.8) (48.9) (70.4) (7.5) 12.1 5.3 3.1 0.1 (1.3) (0.5) 0.1 (11.4) (10) (7.9) (6.3) 0 0
Total Stockholders' Equity 1,918.8 2,068.8 1,966.5 1,701.8 1,563.0 1,381.2 1,165.6 1,079.1 950.8 879.3 456.5 487.1 297.4 236.6 206.5 177.7 141.1 96.8 63.8 48.1 38.9 29.5 23 17.8
Total Liabilities & Equity 2,557.9 2,703.9 2,638.7 2,294.8 2,263.0 2,027.6 1,884.4 1,593.2 1,556.7 1,129.5 472.0 507.4 325.5 263.3 238.2 215.5 180.4 123.8 72.9 53.9 44.4 34.1 26.8 20.4
Debt Metrics
Total Debt 444.1 419.5 455.0 326.0 420.6 433.5 505.2 339 349.9 133.8 0 0 15.9 17.1 18.1 18.9 19.8 0 0 0 0 0 0 0
Net Debt 281.9 267.7 274.4 153.4 221.5 286.9 404.3 217.0 258.3 69.5 (160.9) (167.0) (35.3) (22.3) (8.3) (2.3) 2.4 (12.8) (27.4) (8.6) (7.4) (5.3) (5.9) (4)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 73.4 168.1 285.4 263.1 139.6 229.3 96.1 126.2 76.1 104.5 66.1 52.9 45.4 27.1 34.0 26.6 16.7 15.2 10.9 8.6 6.7 5.1 4.4
Depreciation & Amortization 109.9 111.7 107.2 101.1 87.7 82.7 78.2 64.5 60.0 42.8 6.1 6.0 6.4 12.7 12.7 12.7 11.9 2.3 2.3 1.9 1.7 1.8 1.3
Stock-Based Compensation 40.8 38.0 39.2 42.2 49.0 32.4 32.3 28.2 14.6 9.4 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital 11.5 (10.1) (90.6) (69.5) 29.3 (5.2) (27.8) 1.9 (13.9) (15.0) 1.1 1.6 (1.6) (8.3) (0.8) 1.1 (1) 2 (1) (0.9) (1.2) (0.1) (1)
Other Non-Cash Items 103.0 30.7 (57.4) (18.4) 74.0 (147.1) 16.4 (3.7) 10.1 4.9 0.4 4.7 3.7 2.4 0.9 (0.4) (0.1) (0.1) 1 1.2 0.3 0.3 (0.1)
Operating Cash Flow 287.6 299.0 254.4 325.3 352.2 205.2 181.6 170.4 143.4 143.9 74.4 65.6 54.1 27.7 46.4 38.7 28.4 20.3 12.5 9.8 7.3 6.3 4.5
Investing Activities
Capital Expenditure (31.0) (62.9) (38.2) (44.9) (44.3) (51.7) (25.4) (20.9) (15.2) (16.9) (11.4) (3.7) (15.2) (22.3) (6.8) (30.4) (30.6) (3) (4.2) (6.4) (1.3) (1.3) (2.6)
Acquisitions (15) (169.7) (83.4) 0 (225.9) 1.9 (289.5) (46.3) (293.8) (91.4) 0 0 0 0 0 0 0 0.2 0 0 0 0 0
Purchases of Investments (5.5) (5.5) (20.5) (25) (39.7) (70.2) (43.5) (8.6) (3.1) 0 (146.9) (144.2) (64.6) (64.7) (57.2) (39.6) (15) (24.2) (16) (11.9) (10.4) (4.7) (5.5)
Sales/Maturities of Investments 1.1 28.1 108.5 26.1 66.4 147.1 21.6 36.4 6.1 0.8 212.0 96.9 58.0 69.8 23.8 13.4 14 25 11.6 10.7 4.9 3.4 3
Other Investing Activities 15.3 7.0 (232) (53.0) 0 0 (21.9) 0.7 (37.0) (0.0) (0.5) (8.5) 0 (5.3) (0.5) (3.6) (7) (0.2) (0.2) 0 (0.6) (1.8) 0
Investing Cash Flow (35.2) (203.0) (265.6) (96.9) (243.5) 27.1 (336.8) (38.7) (306.0) (107.6) 53.3 (59.5) (21.7) (22.4) (40.7) (60.0) (38.6) (2.2) (8.8) (7.6) (7.4) (4.4) (5.1)
Financing Activities
Net Debt Issuance 27 (31) 94 (85.5) (15.5) (148.5) 166.5 (4.5) 252 18.5 (1.2) (1.2) (1.0) (0.9) (0.8) 19.8 0 0 0 0 0 0 0
Stock Repurchased (275.7) (80.0) (19.6) (160.9) (43.2) (50.1) (15.4) 0 0 0 (103.9) 0 (23.7) (0.7) (1.2) 0 (3.9) (0.3) (3.2) (0.7) (0.6) 0 0
Dividends Paid (50.4) (50.4) (50.3) (50.2) (49.6) (48.9) (48.4) (48.0) (47.3) (47.6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 45.2 39.1 (1.5) 53.8 45.7 63.7 31.7 (46.7) (15.6) 6.0 0 0 0 0 0 0 0 0 0 0 0 0 (0.1)
Financing Cash Flow (253.9) (122.4) 22.6 (242.9) (62.6) (183.8) 134.4 (99.2) 189.4 (23.1) (97.2) 2.9 (21.0) (1.3) (1.2) 26.2 (2.8) 0.6 (2.6) (0.1) (0.4) 0 0.1
Cash Position
Net Change in Cash 10.4 (28.8) 8.0 (26.5) 52.5 45.7 (21.1) 30.4 27.4 9.7 29.1 11.8 13.0 5.1 3.9 4.6 (13.3) 18.8 1.3 2.1 (0.5) 1.9 0.1
Cash at Beginning 151.8 180.6 172.6 199.1 146.6 100.9 122.0 91.6 64.2 54.5 51.2 39.4 26.4 21.3 17.4 12.8 26.1 8.6 7.4 5.3 5.9 4 4.5
Cash at End 162.2 151.8 180.6 172.6 199.1 146.6 100.9 122.0 91.6 64.2 80.3 51.2 39.4 26.4 21.3 17.4 12.8 27.4 8.7 7.4 5.4 5.9 4.6
Free Cash Flow 256.6 236.1 216.1 280.4 307.9 153.5 156.2 149.4 128.3 127.0 63.0 61.8 38.9 5.4 39.6 8.4 (2.2) 17.3 8.3 3.4 6 5 1.9
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 1,219.6 1,159.1 1,136.7 1,105.6 931.0 738.7 714.0 643.0 563.0 499.0 452.2 357.8 310.6 314.6 290.0 269.0 264.0 257.4 223.5 202.6 178.7 161.3 145.0 130.9 115.4 103.8 90.9 67.3 60.9 54.6 47.7 40.3 28.7
Gross Profit 790.3 769.7 769.8 756.5 632.9 483.2 473.5 432.1 374.5 336.7 307.3 251.4 231.1 235.8 224.9 214.6 208.5 204.5 176.8 156.9 141.8 126.4 109.6 98.4 86.9 80.5 65.9 49.5 43.9 37.5 30.9 25.1 16.9
Operating Income 102.3 206.7 298.9 296.6 237.3 157.4 125.6 136.2 121.8 150.6 147.0 159.8 158.5 166.2 163.1 156.3 150.8 144.3 124.2 108.5 97.8 82.3 67.7 52.8 45.8 39.3 25.1 21.2 15.3 12.2 9.4 7.6 6.9
Net Income 73.4 168.1 285.3 272.1 140.4 229.3 96.1 125.3 77.3 104.5 107.7 110.9 112.6 112.3 112.3 109.8 105.2 103.6 85.1 73.4 66.1 52.9 45.4 27.1 34.0 26.6 16.7 15.2 10.9 8.6 6.7 5.1 4.4
EPS (Diluted) 0.46 1.05 1.76 1.66 0.87 1.45 0.62 0.82 0.52 0.70 0.72 0.75 0.76 0.76 0.76 0.73 0.69 0.66 0.54 0.46 0.40 0.32 0.27 0.16 0.20 0.16 0.10 0.10 0.07 0.06 0.04 0.04 0.03
Balance Sheet
Cash & Equivalents 162.2 151.8 180.6 172.6 199.1 146.6 100.9 122.0 91.6 64.2 160.9 167.0 51.2 39.4 26.4 21.3 17.4 12.8 27.4 8.6 7.4 5.3 5.9 4
Total Assets 2,557.9 2,703.9 2,638.7 2,294.8 2,263.0 2,027.6 1,884.4 1,593.2 1,556.7 1,129.5 472.0 507.4 325.5 263.3 238.2 215.5 180.4 123.8 72.9 53.9 44.4 34.1 26.8 20.4
Total Debt 444.1 419.5 455.0 326.0 420.6 433.5 505.2 339 349.9 133.8 0 0 15.9 17.1 18.1 18.9 19.8 0 0 0 0 0 0 0
Stockholders' Equity 1,918.8 2,068.8 1,966.5 1,701.8 1,563.0 1,381.2 1,165.6 1,079.1 950.8 879.3 456.5 487.1 297.4 236.6 206.5 177.7 141.1 96.8 63.8 48.1 38.9 29.5 23 17.8
Cash Flow
Operating Cash Flow 287.6 299.0 254.4 325.3 352.2 205.2 181.6 170.4 143.4 143.9 74.4 65.6 54.1 27.7 46.4 38.7 28.4 20.3 12.5 9.8 7.3 6.3 4.5
Capital Expenditure (31.0) (62.9) (38.2) (44.9) (44.3) (51.7) (25.4) (20.9) (15.2) (16.9) (11.4) (3.7) (15.2) (22.3) (6.8) (30.4) (30.6) (3) (4.2) (6.4) (1.3) (1.3) (2.6)
Free Cash Flow 256.6 236.1 216.1 280.4 307.9 153.5 156.2 149.4 128.3 127.0 63.0 61.8 38.9 5.4 39.6 8.4 (2.2) 17.3 8.3 3.4 6 5 1.9