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.
Bio-Techne Corp (TECH) reported trailing twelve months revenue of $1.21B as of March 2026, a 0.2% increase year-over-year. Quarterly revenue reached $311.42M, reflecting continued top-line momentum.
Bio-Techne Corp generated $109.56M in TTM net income, with quarterly EBITDA of $99.66M. The operating margin expanded from 12.2% to 24.2%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (24.2%) and net margin (16.4%) indicates moderate non-operating costs. Net margin has improved from 7.1% a year ago, signaling stronger bottom-line efficiency.
TECH trades at a P/E of 74.3x (a premium multiple) and a P/S of 6.7x. The price-to-book ratio of 3.9x reflects a moderate premium to book value.
The company generated $77.58M in free cash flow over the trailing twelve months, a 150.3% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $2.55B in total assets with $200.00M in long-term debt against $2.09B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 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.
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.
Data-driven red flags and warnings across 21 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.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation