BIO-TECHNE Corp (TECH)
Health Care · Life Sciences Tools & Services · US stock · S&P 500 component
$72.62
▼ -0.02 (0.03%)
Fair valueFair
$72 −0.6% to fair value
$36fair band $61–$88$108
Day's range
$72.51 – $72.69
52-week range
$43.20 – $72.69
About BIO-TECHNE Corp
Bio-Techne develops and manufactures reagents, instruments and diagnostic products used in life science research and clinical testing. Its proteins, antibodies and assay kits are used by academic, biotech and pharmaceutical researchers, while its protein analysis instruments and its diagnostics and genomics products serve laboratories and clinical customers. The business is organised into a protein sciences group and a diagnostics and spatial biology group.
Revenue comes from repeat orders of consumable reagents and kits, alongside instruments and diagnostic products. It totals $1.2 billion over the last twelve months, growing at 2.2% a year across three years. The operating margin is 20.7%, and the business earns a profit of 9% on the capital invested in it. Bio-Techne carries net debt of 0.1 times EBITDA, and the dividend yield is 0.6%. On the site's X-Ray Score it receives 45 out of 100.
Price chart
52-wk range $43.20 – $72.69Volume 4,160,527Daily, split-adjusted
Vitals
Market cap$11.4B
52-week range$43.20 – $72.69
Volume (last day)4,160,527
P/E (TTM)62.7
EBIT / EV yield2.2%
Free-cash-flow yield2.3%
Dividend yield0.6%
Revenue (TTM)$1.2B
Net income (TTM)$182M
Operating margin20.7%
Return on capital8.9%
Debt incl. leases$289M
Cash & securities$265M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$72middle half of models $67 – $76
Fair
−0.6% to fair value
Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $73
Undervalued < $61Fair $61 – $88Overvalued > $88
P/E multiple
$75
P/B multiple
$77
P/S multiple
$74
EV/EBITDA multiple
$81
EV/EBIT multiple
$82
EV/revenue multiple
$75
10-year DCF, EBITDA exit
$62
5-year DCF, EBITDA exit
$68
10-year DCF, revenue exit
$61
5-year DCF, revenue exit
$67
10-year DCF, growth exit · not used
$26
5-year DCF, growth exit · not used
$24
Dividend discount, stable · not used
$12
Dividend discount, multi-stage · not used
$15
Earnings power value · not used
$28
Growth the price implies
31.5%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
31/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield2.2%
Free-cash-flow yield2.3%
Fair value vs price1.0×
Growth
Weak
26/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)2.2%
EPS growth (3y)-13.0%
Growth consistency70%
Profitability
Weak
46/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital8.9%
Operating margin20.7%
Gross profitability30.9%
Financial health
Strong
83/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA0.1×
Interest cover26.2×
Dividends
Weak
40/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.6%
Dividends vs free cash flow24%
Dividend growth-0.2%
Quarterly results: last 6 quarters
+4.2%
Mar '25
+3.5%
Jun '25
-1.0%
Sep '25
-0.4%
Dec '25
-1.5%
Mar '26
+1.3%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $321M.
Compare with peers
MTD Mettler Toledo Interna...47 IQV Iqvia Holdings Inc.43 A Agilent Technologies,...40 ILMN Illumina, Inc.39Other Life Sciences Tools & Services companies by X-Ray Score.
SWOT analysis: BIO-TECHNE Corp
Strengthsinside the company
- Net debt is only 0.1x EBITDA.
- Operating profit covers interest 26x, so debt costs are a small drag.
- Passes 8 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- Earnings per share have declined 13.0% a year over three years.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Trades at 62.7x earnings, 71% above the 36.7x median of industry peers, so the price already assumes better results.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare TECH with peers and sector
Medians of 8 Life Sciences Tools & Services peers and of 59 Health Care stocks in our universe.
Largest peers (X-Ray Score): TMO 34, DHR 30, A 40, IQV 43, WAT 33, ILMN 39.
| Metric | TECH | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 45 | 37 | 49 |
| Valuation | 31 | 23 | 55 |
| Growth | 26 | 30 | 48 |
| Profitability | 46 | 44 | 51 |
| Financial health | 83 | 38 | 48 |
| Dividends | 40 | 50 | 52 |
Sector leaders: highest X-Ray Score in Health Care
TECH ranks #39 of 60 in Health Care and #2 of 9 in Life Sciences Tools & Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for TECH
Each factor is rated by where TECH stands among the 60 Health Care stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 5 Good · 10 Average · 8 Bad of 23
Growth: 0 · 0 · 3
Profitability: 1 · 3 · 1
Financial strength: 4 · 0 · 0
Valuation: 0 · 1 · 4
Cash flow: 0 · 4 · 0
Efficiency: 0 · 2 · 0
| Factor | TECH | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +2.2% | Bad beats 31% | +5.5% | – | – |
| Revenue growth, last year | −0.4% | Bad beats 9% | +7.1% | +2.8% | ▼ Worse |
| EPS growth, 3 years a year | −13.0% | Bad beats 16% | +5.0% | – | – |
| Profitability | |||||
| Gross margin | 65.8% | Average beats 53% | 65.0% | 66.4% | ≈ In line |
| Operating margin | 20.7% | Good beats 68% | 16.4% | 20.7% | ≈ In line |
| Net margin | 15.0% | Average beats 61% | 11.1% | 15.0% | ≈ In line |
| Return on invested capital | 8.9% | Average beats 36% | 12.2% | – | – |
| Return on equity | 8.6% | Bad beats 31% | 13.7% | 8.6% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 0.1x | Good beats 85% | 2.0x | 0.4x | ≈ In line |
| Interest cover | 26.2x | Good beats 69% | 9.4x | 26.2x | ≈ In line |
| Current ratio | 4.55 | Good beats 96% | 1.52 | 3.87 | ▲ Better |
| Piotroski F-score | 8 / 9 | Good beats 85% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 62.7x | Bad beats 8% | 28.2x | 61.0x | ≈ In line |
| Price / book | 5.4x | Average beats 41% | 3.7x | 5.6x | ≈ In line |
| Price / sales | 9.4x | Bad beats 13% | 3.7x | 9.9x | ≈ In line |
| EV / EBITDA | 32.7x | Bad beats 18% | 17.6x | 35.8x | ≈ In line |
| Free cash flow yield | 2.3% | Bad beats 13% | 4.4% | 2.0% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 21.7% | Average beats 66% | 16.3% | 21.0% | ≈ In line |
| Cash from operations / net income | 1.61 | Average beats 50% | 1.61 | 1.61 | ≈ In line |
| Free cash flow growth, 3 years a year | +6.8% | Average beats 60% | +4.3% | – | – |
| Accruals (lower is better) | −4.3% | Average beats 62% | −3.9% | – | – |
| Efficiency | |||||
| Inventory turnover | 2.1x | Average beats 36% | 2.9x | 2.2x | ≈ In line |
| Days sales outstanding | 65 days | Average beats 42% | 62 days | 65 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 6 Good · ● 5 Average · ● 5 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreGood
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Average
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 48/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B |
| Operating income | $297M | $299M | $207M | $102M | $252M |
| Net income | $272M | $285M | $168M | $73M | $182M |
| Operating cash flow | $325M | $254M | $299M | $288M | $292M |
| Operating margin | 26.8% | 26.3% | 17.8% | 8.4% | 20.7% |
| Free cash flow | $280M | $216M | $236M | $257M | $263M |
| Diluted EPS | $1.66 | $1.76 | $1.05 | $0.46 | $1.16 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 3 neutral · 1 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 72.54 | Bullish |
| EMA 10 | 72.55 | Bullish |
| SMA 20 | 72.51 | Bullish |
| EMA 20 | 72.50 | Bullish |
| SMA 50 | 72.40 | Bullish |
| EMA 50 | 71.69 | Bullish |
| SMA 100 | 69.15 | Bullish |
| EMA 100 | 68.86 | Bullish |
| SMA 200 | 62.80 | Bullish |
| EMA 200 | 65.14 | Bullish |
Oscillators (daily)
| RSI (14) | 59.15 | Neutral |
| MACD (12, 26) | 0.09 | Bullish |
| Momentum (12) | 0.26 | Bullish |
| Stochastic %K (14) | 77.85 | Neutral |
| Williams %R (14) | -22.15 | Neutral |
| CCI (20) | 143.8 | Bearish |
Pivot points (classic, last session)
S3 72.35 | S2 72.43 | S1 72.53 | Pivot 72.61 | R1 72.70 | R2 72.78 | R3 72.88 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.40 USD
Yield on today's price
0.55%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 | |
| 0.0800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold TECH
| ETF | Share of the fund |
|---|---|
| FBT First Trust NYSE Arca Biotechnology In... | 3.43% |
| IBB iShares Biotechnology | 0.86% |
| SPHB Invesco S&P 500 High Beta | 0.81% |
| CGMM Capital Group U.S. Small and Mid Cap | 0.77% |
| VBK Vanguard Small-Cap Growth | 0.31% |
| RSP Invesco S&P 500 Equal Weight | 0.27% |
| XLV Health Care Select Sector SPDR | 0.19% |
| IYH iShares U.S. Healthcare | 0.19% |
The eight funds with the largest weight in TECH among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
TECH stock splits
TECH has split its stock 3 times since 1997. The latest was a 4-for-1 split on 30 Nov 2022.
Full TECH stock split history →TECH SEC filings
8-KSEC EDGAR
Shareholder vote results; Regulation FD disclosure
8-KSEC EDGAR
Other events
10-KSEC EDGAR
Annual report
8-KSEC EDGAR
Results of operations; Other events
8-KSEC EDGAR
Entered a material agreement; Director or officer change
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.