Health Care · Life Sciences Tools & Services · US stock · price as of 22 Oct 2026
Key indicators
Price
$72.62
52-week range
$43.20 – $72.69
Market cap
$11.4B
P/E (trailing)
62.7×
EV / EBITDA
32.5×
Free-cash-flow yield
2.3%
Dividend yield
0.6%
Revenue (last 12 months)
$1.2B
Revenue growth (3y a year)
2.2%
Operating margin
20.7%
Return on invested capital
8.9%
Net debt / EBITDA
0.1×
Fair value
Fair value (average of valid models)$72.21 middle half of models $67 – $76
Versus priceFair−1% to fair value
P/E multiple
$74.61
P/B multiple
$77.09
P/S multiple
$73.67
EV/EBITDA multiple
$81.39
EV/EBIT multiple
$82.26
EV/revenue multiple
$74.51
10-year DCF, EBITDA exit
$61.98
5-year DCF, EBITDA exit
$68.26
10-year DCF, revenue exit
$61.11
5-year DCF, revenue exit
$67.22
Model uncertainty
Low
X-Ray Score
45/ 100 · High confidence · ahead of 35% of sector peers
Valuation31
Growth26
Profitability46
Financial health83
Dividends40
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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%.
StocksXray gives BIO-TECHNE Corp an X-Ray Score of 45 out of 100 (high confidence), ahead of 35% of the S&P 500 stocks in its sector. Its strongest lens is financial health (83) and its weakest is growth (26).
Our fair value (the average of the valid models) is $72.21 (range $67.48 to $76.47). At $72.62 the stock trades 1% above that value, so the label is "Fair" with low model uncertainty. Fair value is a range, not a price target.
XStocksXray
BIO-TECHNE Corp (TECH)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$84.48
$80.20
$70.71
$51.03
$70.49
$72.62
Market cap
$13.9B
$13.0B
$11.4B
$8.2B
$11.1B
$11.4B
P/E
50.9×
45.6×
67.3×
110.9×
60.8×
62.7×
EV / revenue
12.5×
11.5×
10.0×
6.8×
9.1×
9.3×
EV / EBITDA
34.9×
32.3×
36.2×
39.3×
31.5×
32.5×
Price / free cash flow
49.5×
60.1×
48.1×
31.8×
42.0×
43.3×
Free-cash-flow yield
2.0%
1.7%
2.1%
3.1%
2.4%
2.3%
Price / book
8.1×
6.6×
5.5×
4.2×
5.2×
5.4×
Dividend yield
0.38%
0.40%
0.45%
0.63%
0.45%
0.55%
Fundamentals checklist ● 6 Good · ● 5 Average · ● 5 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.3%Average
Free-cash-flow yield2.3%Bad
Risk models
Altman Z score8.2×Good
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)−13.0%Bad
Free-cash-flow growth (3y)6.8%Average
Revenue growth (3y)2.2%Bad
Growth consistency70%Bad
Balance sheet
Current ratio4.5×Good
Net debt / EBITDA0.1×Good
Interest cover26.2×Good
Valuation
Fair value vs price1.0×Average
EBIT / EV yield2.2%Bad
Profitability
Return on invested capital8.9%Average
Operating margin20.7%Good
Gross profitability30.9%Average
XStocksXray
BIO-TECHNE Corp (TECH)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
1,106
1,137
1,159
1,220
1,215
1,215
Gross profit
756
770
770
790
799
799
Operating income
297
299
207
102
252
252
Net income
272
285
168
73
182
182
Diluted EPS ($)
1.66
1.76
1.05
0.46
1.16
1.16
Free cash flow
280
216
236
257
263
263
Gross margin
68.4%
67.7%
66.4%
64.8%
65.8%
65.8%
Operating margin
26.8%
26.3%
17.8%
8.4%
20.7%
20.7%
Net margin
24.6%
25.1%
14.5%
6.0%
15.0%
15.0%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
2,295
2,639
2,704
2,558
2,587
2,587
Cash
173
181
152
162
265
265
Total debt
256
350
319
346
200
200
Equity
1,702
1,967
2,069
1,919
2,108
2,108
Dividend per share ($)
0.32
0.32
0.32
0.32
0.32
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
