One-glance verdict
Overvalued
$33.40 our estimate vs market $72.66
Wall Street consensus: $70.50 (111.1% higher than our fair-value estimate)
118% above our estimate, beyond the bull case
Fundamentals snapshot
Bio-Techne Corporation
TECH · NMS · Healthcare · Biotechnology
Current price
$72.66
52-week range
$43.20 - $72.75
Market cap
$11.41B
Balance sheet
Healthy
28.31x Strong cushion
Net debt $23.61M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Returns 9.0% on equity, ahead of 50% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Reward Dividend yield is 0.4% with 19-year payout history.
What this company does
Bio-Techne Corporation
Bio-Techne operates like a high-tech hardware store for scientists, selling the essential tools and supplies they need for medical research and drug discovery. The company makes most of its money from these consumable products, creating a steady stream of recurring revenue (income that is predictable and likely to continue) as labs must constantly restock them for their experiments. This makes Bio-Techne a key supplier for the life sciences industry, which relies on these products to develop new treatments for diseases.
How the company got here
Founded in 1976 as a small operation, the company initially focused on making specialized biological materials for scientists. A key turning point was a series of acquisitions (buying other companies) starting around 2013, which allowed it to expand into new technologies and markets. This strategy of buying smaller, innovative companies helped it grow from a simple supplier into a major provider of tools for both scientific research and medical testing. In 2014, it changed its name from Techne Corporation to Bio-Techne to better reflect its focus on biotechnology.
What it actually does
Think of Bio-Techne as a high-tech supplier for the people discovering and making new medicines. They don't make drugs themselves, but they create and sell the crucial ingredients, tools, and tests that scientists at universities, drug companies, and medical labs use for their work. This includes everything from special proteins that help grow cells in a lab to complex machines that analyze tissues for signs of disease. Their products are essential for understanding diseases and developing new treatments.
Protein Sciences
This is the company's largest and most established business, making up the majority of its sales. It creates and sells the fundamental building blocks for life science research, like proteins, antibodies, and other special molecules called reagents (substances used in a chemical reaction to detect, measure, or make other substances). Scientists at pharmaceutical companies and universities buy these products to conduct experiments, for example, to understand how a disease works or to test an early-stage drug. This segment also sells instruments that automate and speed up the process of analyzing proteins.
Diagnostics and Spatial Biology
This is a newer and more specialized part of the company that focuses on tools for medical testing and advanced research. The 'diagnostics' part of the business provides materials to clinical labs that need to run accurate tests for diseases. The 'spatial biology' part offers powerful technology that lets scientists see exactly where different molecules are located within a tissue sample, which is very important for cancer research. Hospitals and specialized labs buy these products to help diagnose patients and to conduct research that requires a deeper understanding of how cells are organized.
What management is betting on now
The company is focusing its efforts on fast-growing, cutting-edge areas of medicine. A major priority is providing tools for cell and gene therapy, a new type of treatment that uses a patient's own cells to fight disease. They are also investing heavily in spatial biology, which helps researchers create detailed maps of cells and tissues to better understand diseases like cancer. The goal is to move beyond being just a supplier for basic research and become a key partner in developing the next generation of precision diagnostics (tests that provide very specific information about a person's health).
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q1
$54.72M
FY2025 Q2
$77.53M
FY2025 Q3
$31.00M
FY2025 Q4
$93.31M
FY2026 Q1
$22.22M
FY2026 Q2
$76.49M
FY2026 Q3
$77.58M
FY2026 Q4
$86.94M
Revenue
$321.19M
Net income
—
Diluted EPS
0.36
Operating cash flow
$95.42M
Free cash flow
$86.94M
Fetching…
Sources
Revenue
$311.42M
Net income
$51.05M
Diluted EPS
0.32
Operating cash flow
$86.66M
Free cash flow
$77.58M
Fetching…
Sources
Revenue
$295.88M
Net income
$38.01M
Diluted EPS
0.24
Operating cash flow
$82.41M
Free cash flow
$76.49M
Fetching…
Sources
Revenue
$286.56M
Net income
$38.19M
Diluted EPS
0.24
Operating cash flow
$27.59M
Free cash flow
$22.22M
Fetching…
Sources
Revenue
$316.96M
Net income
$-17.68M
Diluted EPS
-0.11
Operating cash flow
$98.20M
Free cash flow
$93.31M
Fetching…
Sources
Revenue
$316.18M
Net income
$22.59M
Diluted EPS
0.14
Operating cash flow
$41.12M
Free cash flow
$31.00M
Fetching…
Sources
Revenue
$297.03M
Net income
$34.89M
Diluted EPS
0.22
Operating cash flow
$84.35M
Free cash flow
$77.53M
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Sources
Revenue
$289.46M
Net income
$33.60M
Diluted EPS
0.21
Operating cash flow
$63.89M
Free cash flow
$54.72M
Fetching…
Sources
Is it cheap or expensive?
Fair value $33.40 vs current price $72.66
Wall Street consensus is the average analyst price target: $70.50 (111.1% higher than our fair-value estimate).
Our most-likely fair value is $33.40 a share — about 54.0% below today's price of $72.66, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net debt $23.6M. Interest coverage 28.3x.
Net debt
$23.61M
Interest coverage
28.31x
Bio-Techne Corporation's profit covers its interest bill about 28.3 times over. which is stronger than every peer shown here.
Healthy
Worse cushion
Baseline
Better cushion
TECH
BASELINE
Bio-Techne Corporation
Total debt $289.09M Interest coverage 28.31x This is the baseline the peer rows are being compared against.
Total debt $4.15B Interest coverage 13.21x -53% vs TECH Carries about 2.1x less debt cushion than TECH.
Total debt $5.48B Interest coverage 11.54x -59% vs TECH Carries about 2.5x less debt cushion than TECH.
Total debt $3.34B Interest coverage 3.87x -86% vs TECH Carries about 7.3x less debt cushion than TECH.
Total debt $1.65B Interest coverage 15.65x -45% vs TECH Carries about 1.8x less debt cushion than TECH.
What you should know
The case for and against TECH
3 Rewards
0 Risks
Rewards
-
Returns 9.0% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 10/10 years.
-
Dividend yield is 0.4% with 19-year payout history.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
62.64x
Forward P/E
31.44x
P/B
5.38x
P/S
9.39x
EV/EBITDA
34.17x
PEG ratio
2.17x
Profitability
How much profit each dollar creates
Gross margin
66.2%
Operating margin
27.9%
Net margin
15.0%
ROE
9.0%
ROA
6.7%
Health
Liquidity and balance-sheet strength
Debt / equity
0.14x
Current ratio
4.55x
Quick ratio
2.94x
Total debt
$289.09M
Total cash
$265.48M
Growth
How the business has been compounding
Revenue TTM
$1.22B
Revenue 5Y CAGR
2.4%
EPS TTM
1.16
EPS 5Y CAGR
-13.0%
Cash flow
How much cash the business throws off
Operating CF TTM
$292.07M
Free CF TTM
$263.22M
FCF margin
21.7%
Dividend
Shareholder payout
Yield
0.4%
Payout ratio
27.6%
Last ex-div date
2026-08-24