Bio-Techne CorporationTECH
NasdaqGS•Healthcare•Biotechnology
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.
as of March 2026
Are revenues and earnings expanding?
$1.21B in TTM revenue grew 0.2% YoY, reaching $311.42M last quarter. TTM EBITDA of $254.08M on operating income of $75.50M shows growth is flowing through. Net income of $109.56M TTM confirms the company is converting revenue into profit. Revenue is growing modestly — monitor for acceleration or deceleration.
Is revenue turning into profit effectively?
Op. margin of 24.2% is up 12.0% YoY — cost efficiency is improving. Net margin at 16.4% and gross margin of 66.9%. ROE of 5.3% shows the company generates solid returns on shareholder equity.
Is the stock cheap or expensive?
At 78.5x P/E, the stock trades at a premium — the market expects above-average growth. P/S of 7.1x and P/B of 4.1x provide additional context. The premium P/E is not backed by strong revenue growth — the stock may be overvalued.
Is the company financially stable?
With $2.55B in assets and $200.00M in long-term debt, the D/E of 0.1 shows a conservative capital structure — the company has a strong financial cushion to weather downturns.
Is the business self-funding?
FCF of $77.58M on $86.66M in operating cash flow. The FCF / Net Income ratio of 0.7x means earnings are well backed by actual cash — high-quality earnings. Cash reserves of $209.82M provide financial flexibility. Share count is stable — no dilution or buyback activity.
Competitive analysis based on 62 quarters of fundamental data
Operating margins are under pressure, averaging 13.6%. The business may lack pricing power or face rising costs.'
ROE is positive at ~5.8% on average, adequate but below the threshold typically associated with wide moats.
Data-driven red flags and warnings across 62 quarters
Operating margins declined 9.2% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 0.7x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue shows resilience with 4 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.