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Not Investment Advice

TECH

NASDAQ · USD
Bio-Techne Corporation
Healthcare · Biotechnology
CEO Kim Kelderman Employees 3,000 R&D / revenue 7.8%
Last price
$72.57+0.07%last session
Market cap
$11.4B
P/E (TTM)
62.0x
From 52w high
−0.2%
From 52w low
+68.0%
1-year return
+18.0%
RSI 14 · vs SMA200
58.4 · +15.7%
IS score
70.0/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

TECH   SPY   XLV (sector ETF) · weekly closes
80100120Jan 26Apr 26Jul 26Oct 26XLV 124TECH 118SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
61
Profitability
56
Growth
43
Value
85
Momentum
100
Risk (safety)
83
Quality
83
Balance sheet
73
Earnings quality

Flags

Strengths
None of the computed strength flags fires.
Warnings
▲ Share count rising
Observations
Moat model: Weak, Cost AdvantagePiotroski 7 / 9Altman Z 13.3Beta 1.272 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $320,386
Form 144 notices (12m): 2, $437,209 proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+15
132 new holders, 111 closed
596 filers hold 112.6% · 162 added, 241 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+71
524 funds adding shares
453 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
27.3%
20-day avg 33.2%, 50-day avg 32.0%
Latest 5.9 pp under its 20-day average · a flow, not short interest

Key financials · FY2026

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$1.2B
Revenue growth YoY−0.4%
Gross margin65.8%
Operating income$251.9M
Operating margin20.7%
Net income$181.9M
Net margin15.0%
EPS (diluted)$1.16
Cash flow
Operating cash flow$292.1M
Capital expenditure$28.9M
Free cash flow$263.2M
FCF conversion (FCF / OCF)90.1%
Stock-based compensation$41.4M
FCF less SBC$221.9M
Buybacks$41.7M
Dividends$49.9M
Balance sheet & returns
Cash & short-term investments$264.7M
Total debt$214.9M
Net cash$49.8M
Shareholders' equity$2.1B
Goodwill & intangibles$1.3B
Debt / equity0.14
ROE (TTM)8.9%
ROIC (TTM)7.8%
Operating margin by fiscal year
26.8%FY202226.3%FY202317.8%FY20248.4%FY202520.7%FY2026
Revenue $1.1B (FY2022) to $1.2B (FY2026), a 2.4% CAGR.

Valuation

P/E (TTM)62.0x
EV / EBITDA33.2x
Price / sales9.37x
Price / FCF43.2x
FCF yield2.31%
Buyback yield0.37%
SBC / revenue3.4%
Price / book5.37x
Forward P/E FY202735.7x
Forward P/E FY202830.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $73.00 across 1 analysts last quarter is theirs, not ours.

TECH vs industry median

1260 companies in Biotechnology
Gross margin 65.8% 84.4% Operating margin 20.7% -207.9% Net margin 15.0% -206.2% ROIC 7.8% 11.1%
TECH (TTM)Industry median Asset turnover 0.47 vs industry 0.01 · financial leverage 1.23

Earnings delivery

Next report 2026-11-04 · consensus EPS $0.44
58%
beat rate, 7 of 12 quarters
+3.1%
median EPS surprise
4
longest beat streak
-7-3+6-1+11+9+10+6-0+7-4+0
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-31 to 2026-08-12. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
TECH Bio-Techne Corporation $11.4B62.0x8.9%15.0%−0.4% +18.0%
BMRN BioMarin Pharmaceutical Inc. $10.6B143.9x1.2%4.5%+11.2% +3.3%
MDGL Madrigal Pharmaceuticals, In $10.4Bn/m-53.3%-15.9%+149.0% +1.7%
BBIO BridgeBio Pharma, Inc. $13.0Bn/m32.4%-62.5%+202.4% +20.6%
IBRX ImmunityBio, Inc. $9.7Bn/m122.7%—+192.9% +262.8%
JAZZ Jazz Pharmaceuticals plc $13.6B13.8x22.1%16.0%+12.6% —
NBIX Neurocrine Biosciences, Inc. $13.8B19.2x22.1%15.1%+34.4% —
KRYS Krystal Biotech, Inc. $9.4B38.3x20.1%45.9%+22.6% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-09-23Shareholder Vote; Regulation FD; Exhibits
2026-09-14Other Events
2026-08-12Earnings Release; Other Events; Exhibits
2026-06-26Material Agreement; Officer/Director Change; Exhibits
2026-06-25Regulation FD; Exhibits
2026-05-06Earnings Release; Other Events; Exhibits

Context

Shares outstanding156,818,000
Free float99.4%
Institutional ownership112.6%
Beta1.27
Dividend yield0.44%
Last dividend$0.08 on 2026-08-24
50 / 200-day average$72.37 / $62.67
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where TECH sits among 137 scored companies in Biotechnology (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureTECHIndustry medianIndustry percentileSector median
P/E (TTM) 62.6x 18.8x
81st		 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 9.4x 8.8x
54th		 3.7x
Price / book 5.4x 3.9x
60th		 3.6x
Price / tangible book 13.4x 5.0x
83rd		 5.8x
Price / free cash flow 43.2x 22.0x
73rd		 21.2x
Price / operating cash flow 39.0x 18.0x
73rd		 17.1x
Enterprise value $11.4B $1.6B
88th		 $2.5B
EV / sales 9.4x 8.2x
57th		 3.8x
EV / EBITDA 33.2x 20.2x
71st		 16.2x
EV / EBIT 46.3x 21.8x
78th		 23.0x
EV / free cash flow 43.3x 21.3x
76th		 24.6x
Earnings yield 1.6% -5.4%
78th		 -0.3%
FCF yield 2.3% -4.2%
78th		 1.7%
Operating cash flow yield 2.6% -3.9%
78th		 2.9%
Graham number (per share) $18.71 $17.65
53rd		 $26.70

Profitability (TTM)

MeasureTECHIndustry medianIndustry percentileSector median
Gross margin 65.8% 86.5%
21st		 65.1%
EBITDA margin 28.3% -37.5%
83rd		 6.6%
Operating margin 20.7% -43.4%
80th		 3.5%
EBIT margin 20.3% -50.9%
82nd		 2.4%
Net margin 15.0% -51.7%
79th		 0.3%
NOPAT margin 15.7% -36.4%
79th		 2.7%
FCF margin 21.7% -48.6%
83rd		 4.3%
Operating cash flow margin 24.0% -47.2%
82nd		 7.1%
R&D / revenue 7.8% 47.3%
7th		 12.4%
SG&A / revenue 37.2% 65.7%
29th		 37.9%
Stock comp / revenue 3.4% 13.2%
10th		 4.5%
Effective tax rate 24.4% 21.0%
95th		 21.0%

Returns on capital

MeasureTECHIndustry medianIndustry percentileSector median
ROE (on average equity) 9.0% -26.1%
76th		 0.8%
ROA 6.9% -17.4%
78th		 -0.3%
ROIC 8.9% 3.2%
53rd		 5.5%
ROCE 9.8% -15.9%
78th		 2.3%
Return on tangible assets 9.4% -16.5%
79th		 1.7%
Cash ROIC (OCF / invested capital) 13.7% -14.5%
67th		 9.7%
Gross profitability (GP / assets) 29.8% 27.4%
52nd		 29.9%
ROIC, 3-yr average 5.8% -30.4%
74th		 2.6%
ROIC, 5-yr average 9.6% -5.4%
62nd		 3.2%
ROE, 5-yr average 10.2% -32.6%
90th		 -4.9%
Incremental ROIC 391.6% 14.8%
96th		 17.2%

Growth

MeasureTECHIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) -0.4% 19.5%
32nd		 10.5%
Revenue growth (QoQ) 3.1% 15.4%
28th		 7.2%
Revenue CAGR, 3 yr 2.2% 24.6%
27th		 10.7%
Revenue CAGR, 5 yr 5.5% 18.6%
29th		 12.1%
Gross profit CAGR, 3 yr 1.3% 19.1%
29th		 10.6%
Operating income CAGR, 3 yr -5.5% 20.7%
18th		 11.7%
Net income growth (TTM YoY) 147.8% 61.9%
70th		 17.5%
Net income CAGR, 3 yr -13.9% 14.9%
8th		 11.3%
EPS growth (TTM YoY) 145.8% 58.1%
70th		 19.2%
EPS CAGR, 3 yr -13.0% 14.3%
8th		 14.0%
EPS CAGR, 5 yr 6.2% 17.4%
27th		 8.1%
FCF growth (TTM YoY) 2.6% 37.2%
32nd		 18.6%
FCF CAGR, 3 yr 6.8% 28.7%
31st		 15.4%
Operating cash flow CAGR, 3 yr 4.7% 24.8%
19th		 11.9%
Book value CAGR, 3 yr 3.4% -2.2%
59th		 2.1%
Dividend CAGR, 3 yr 0.7% — 2.2%
Sustainable growth rate 6.6% 22.1%
14th		 12.2%

Margin history & stability

MeasureTECHIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 65.7% 82.4%
30th		 62.6%
Operating margin, 3-yr average 15.6% -129.3%
86th		 1.0%
Net margin, 3-yr average 11.8% -111.8%
82nd		 -2.6%
FCF margin, 3-yr average 21.0% -109.9%
89th		 3.2%
Revenue stability (0-1) 0.88 0.64
78th		 0.80
Earnings stability (0-1) 0.11 0.38
17th		 0.37
Margin stability (0-1) 0.98 0.83
89th		 0.93

Liquidity (latest quarter)

MeasureTECHIndustry medianIndustry percentileSector median
Cash & short-term investments $264.7M $456.5M
32nd		 $330.9M
Net cash (− = net debt) −$24.4M $253.5M
20th		 $8.4M
Working capital $580.7M $441.4M
61st		 $381.1M
Current ratio 4.55 5.12
41st		 3.02
Quick ratio 3.35 4.88
32nd		 2.51
Cash ratio (cash + ST investments / current liabilities) 1.62 4.14
17th		 1.43
Defensive interval (days) 324 days 531 days
20th		 415 days

Leverage & solvency (latest quarter)

MeasureTECHIndustry medianIndustry percentileSector median
Total debt $289.1M $92.5M
74th		 $289.1M
Debt / equity 0.14 0.15
47th		 0.45
Net debt / equity 0.01 −0.63
84th		 −0.13
Debt / assets 10.8% 12.4%
46th		 24.4%
Debt / capital 12.1% 13.1%
47th		 31.1%
Debt / EBITDA 0.84 0.84
50th		 2.62
Net debt / EBITDA 0.07 −1.05
74th		 1.42
Interest coverage (EBIT / interest) 45.5x −2.6x
91st		 2.1x
Cash interest coverage 54.0x −2.3x
90th		 3.6x
Debt payback (years of OCF) 1.0 yrs 0.8 yrs
51st		 2.7 yrs
Liabilities / assets 21.3% 31.5%
32nd		 49.8%
IS credit model rating AAA — —
Implied credit spread (bps) 50 225
0th		 225

Efficiency

MeasureTECHIndustry medianIndustry percentileSector median
Asset turnover 0.46 0.36
62nd		 0.56
Fixed asset turnover 4.06 4.58
45th		 4.87
Inventory turnover 2.2 2.4
46th		 2.7
Receivables turnover 5.7 5.9
47th		 6.4
Days sales outstanding 64 days 58 days
56th		 57 days
Days inventory outstanding 169 days 152 days
54th		 136 days
Days payables outstanding 23 days 173 days
6th		 59 days
Cash conversion cycle (days) 210 days 12 days
82nd		 70 days
Capex / revenue 2.4% 1.6%
58th		 2.6%
Capex / depreciation 0.30 0.39
45th		 0.55
Operating expense ratio 42.7% 104.5%
11th		 56.5%

Cash flow & earnings quality

MeasureTECHIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.61 1.18
76th		 1.61
FCF / net income 1.45 1.08
73rd		 1.36
FCF / operating cash flow 90.1% 97.0%
38th		 81.2%
Capex / operating cash flow 9.9% 3.0%
62nd		 18.8%
Accruals ratio -4.2% -5.4%
58th		 -5.4%
Sloan accruals ratio 1.9% 4.4%
46th		 -1.3%
Earnings quality score (0-1) 1.00 0.75
81st		 0.75

Dividends & buybacks

MeasureTECHIndustry medianIndustry percentileSector median
Dividend yield 0.4% 0.0%
99th		 0.0%
Dividend per share (TTM) $0.32 $0.00
99th		 $0.00
Payout ratio (dividends / net income) 27.4% 0.0%
100th		 0.0%
Dividends / FCF 19.0% 0.0%
100th		 0.0%
Dividend growth (YoY) -1.7% — 4.5%
Buyback yield 0.4% 0.0%
82nd		 0.0%
Shareholder yield (dividends + buybacks) 0.8% 0.0%
86th		 0.0%
Share count change (YoY) 0.8% 6.8%
18th		 2.0%
Buybacks, last 5 years $893.4M $0
95th		 $0

Scores & forensic checks

MeasureTECHIndustry medianIndustry percentileSector median
IS score 70 38
85th		 46
IS profitability 61 20
79th		 22
IS growth 56 61
45th		 60
IS value 43 36
79th		 39
IS momentum 85 60
89th		 67
IS risk (safety) 100 90
52nd		 80
IS quality 83 44
90th		 49
IS balance sheet 83 66
63rd		 55
IS earnings quality 73 51
94th		 56
IS cash flow 76 30
88th		 41
Piotroski F-score (0-9) 7 4
89th		 5
Altman Z-score 13.3 3.9
82nd		 3.2
Beneish M-score −3.30 −2.35
19th		 −2.62
Ohlson O-score −10.48 −6.14
10th		 −7.16
IS credit score 97 65
96th		 62

Per share

MeasureTECHIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $1.16 −$0.64
82nd		 −$0.03
Book value per share $13.43 $3.68
82nd		 $7.10
Tangible book per share $5.32 $3.47
63rd		 $1.91
Revenue per share $7.74 $1.94
82nd		 $9.38
FCF per share $1.68 −$0.66
85th		 $0.46
Operating cash flow per share $1.86 −$0.59
85th		 $0.93
Cash per share $1.69 $3.93
24th		 $3.51

Size (TTM)

MeasureTECHIndustry medianIndustry percentileSector median
Market cap $11.4B $1.9B
88th		 $2.4B
Revenue $1.2B $204.6M
87th		 $770.2M
EBITDA $343.4M −$55.6M
89th		 $56.1M
Net income $181.9M −$85.2M
84th		 −$3.3M
Free cash flow $263.2M −$75.1M
88th		 $41.2M
Total assets $2.7B $744.5M
88th		 $1.3B
Shareholders' equity $2.1B $425.4M
91st		 $568.4M
Employees 3,000 325
94th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-28Higgins John L
Director
 Option exercise 15,940——82,816
2026-09-28Higgins John L
Director
 Tax withholding 5,562$72.51$403,30177,254
2026-09-28Higgins John L
Director
 Option exercise 15,940$25.30$403,2820
2026-09-22Baumgartner Robert V
Director
 Option exercise 15,940——62,443
2026-09-22Baumgartner Robert V
Director
 Tax withholding 5,559$72.55$403,30556,884
2026-09-22Baumgartner Robert V
Director
 Option exercise 15,940$25.30$403,2820
2026-08-17Herr Amy E.
Director
 Award / grant 1,381——1,381
2026-08-17Bohnen Shane
SVP - General Counsel
 Award / grant 11,344——11,344
2026-08-17Bohnen Shane
SVP - General Counsel
 Award / grant 18,432——18,432
2026-08-17Kelderman Kim
Director, Chief Executive Officer
 Award / grant 57,590——57,590
2026-08-17Kelderman Kim
Director, Chief Executive Officer
 Award / grant 93,582——93,582
2026-08-17Hippel James
CFO
 Award / grant 22,438——22,438

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired11302,815—
Open-market saleDisposed16,636$320,386
Option exerciseAcquired19355,889$9.6M
Option exerciseDisposed33355,889$13.9M
Return to issuerDisposed9151,553$9.5M
Tax withholdingDisposed18257,733$16.4M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 2 notices · 8,612 shares · $437,209
FiledFilerShares proposedEst. proceeds
2026-05-08Joshua Molho6,636$320,417
2026-02-17Joshua Molho1,976$116,791
2025-08-25Robert V. Baumgartner4731 Bonita Bay Boulevard17,040$957,849
2025-08-25Roeland Nusse17,040$960,388
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 20 trades (8 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-04-08April DelaneyHouseSale$1,001 - $15,0002026-05-07
2026-04-08April McClain DelaneyHouseSale (Full)$1,001 - $15,0002026-05-07
2026-04-07April McClain DelaneyHouseSale (Full)$1,001 - $15,0002026-05-07
2026-03-26April DelaneyHouseSale$1,001 - $15,0002026-04-08
2015-02-13Thom TillisSenateSale (Full)$1,001 - $15,0002015-02-26
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.14,025,816$990.9M8.94%
FMR LLC12,794,784$904.0M8.16%
VANGUARD CAPITAL MANAGEMENT LLC10,218,558$721.9M6.52%
GOLDMAN SACHS GROUP INC7,343,324$518.8M4.68%
HBK INVESTMENTS L P6,825,000$482.2M4.35%
VANGUARD PORTFOLIO MANAGEMENT LLC6,506,360$459.7M4.15%
STATE STREET CORP5,980,370$422.5M3.81%
GEODE CAPITAL MANAGEMENT, LLC5,351,464$377.5M3.41%
Invesco Ltd.4,986,424$352.3M3.18%
Ruane, Cunniff & Goldfarb L.P.3,348,841$236.6M2.14%
SNYDER CAPITAL MANAGEMENT L P3,163,816$223.5M2.02%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/2,746,462$194.0M1.75%
MAIRS & POWER INC2,700,698$190.8M1.72%
Capital Research Global Investors2,621,890$185.2M1.67%
UBS Group AG2,478,073$175.1M1.58%

Institutional ownership by quarter

2023-092026-06112.6%
% of shares held by 13F filers
2023-092026-06596
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-30596112.6%132162241111
2026-03-31581112.2%7219922359
2025-12-31581108.3%8820620867
2025-09-3057199.8%9621218371
2025-06-3055399.7%81219193101
2025-03-31578102.0%7720421064
2024-12-3157497.9%7621819349
2024-09-3055996.8%5819220961
2024-06-3057197.6%7021020845
2024-03-3155398.6%7520218043
2023-12-3152696.7%8420716774
2023-09-3052594.6%6217421054

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-06SCHEDULE 13G/AAbigail P. Johnson8.1%12,754,784
2026-04-29SCHEDULE 13GVanguard Capital Management7.4%11,559,571
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-11-14SCHEDULE 13G/AT. Rowe Price Associates, Inc.2.2%3,350,818
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.02%$360.9M
VTSAX0.02%$360.9M
VSMPX0.02%$360.9M
VTI0.02%$360.9M
VOO0.02%$297.9M
VFFSX0.02%$297.9M

Share structure

Shares outstanding156,818,000
Float155,952,051
Free float99.4%

Income statement

Fiscal years, USD
FY2022FY2023FY2024FY2025FY2026
Revenue$1.1B$1.1B$1.2B$1.2B$1.2B
Cost of revenue$349.1M$366.9M$389.3M$429.4M$416.0M
Gross profit$756.5M$769.8M$769.7M$790.3M$799.1M
R&D$87.1M$92.5M$96.7M$99.5M$94.8M
SG&A$339.0M$352.4M$393.3M$415.1M$452.4M
Operating income$296.6M$298.9M$206.7M$102.3M$251.9M
EBITDA$413.8M$457.1M$313.1M$216.9M$343.4M
Pretax income$301.4M$338.7M$185.7M$98.5M$240.7M
Income tax$38.3M$53.2M$17.6M$25.1M$58.8M
Net income$272.1M$285.3M$168.1M$73.4M$181.9M
EPS, diluted$1.66$1.76$1.05$0.46$1.16
Diluted shares164.1M161.9M160.8M159.7M157.0M

Balance sheet

FY2022FY2023FY2024FY2025FY2026
Cash & short-term investments$247.0M$204.3M$152.9M$162.2M$264.7M
Receivables$194.5M$218.5M$241.4M$206.9M$220.5M
Inventory$141.1M$171.6M$179.7M$189.4M$195.7M
Total current assets$605.6M$621.5M$617.4M$608.3M$744.4M
PP&E, net$288.8M$324.5M$342.4M$319.1M$299.2M
Goodwill & intangibles$1.4B$1.4B$1.5B$1.3B$1.3B
Total assets$2.3B$2.6B$2.7B$2.6B$2.7B
Accounts payable$33.9M$25.7M$38.0M$25.3M$26.7M
Total current liabilities$176.0M$128.5M$159.4M$175.8M$163.7M
Long-term debt$243.4M$350.0M$319.0M$346.0M$200.0M
Total liabilities$593.8M$672.2M$635.0M$639.1M$570.8M
Shareholders' equity$1.7B$2.0B$2.1B$1.9B$2.1B

Cash flow statement

Outflows are negative
FY2022FY2023FY2024FY2025FY2026
Net income$263.1M$285.4M$168.1M$73.4M$181.9M
Depreciation & amortization$101.1M$107.2M$111.7M$109.9M$97.4M
Stock-based compensation$42.2M$39.2M$38.0M$40.8M$41.4M
Change in working capital−$69.5M−$90.6M−$10.1M$11.5M−$41.3M
Operating cash flow$325.3M$254.4M$299.0M$287.6M$292.1M
Capital expenditure−$44.9M−$38.2M−$62.9M−$31.0M−$28.9M
Free cash flow$280.4M$216.1M$236.1M$256.6M$263.2M
Investing cash flow−$96.9M−$265.6M−$203.0M−$35.2M−$18.2M
Net debt issued / repaid−$85.5M$94.0M−$31.0M$27.0M−$146.0M
Buybacks−$160.9M−$19.6M−$80.0M−$275.7M−$41.7M
Dividends paid−$50.2M−$50.3M−$50.4M−$50.4M−$49.9M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2022FY2023FY2024FY2025FY2026
Gross margin68.4%67.7%66.4%64.8%65.8%
Operating margin26.8%26.3%17.8%8.4%20.7%
Net margin24.6%25.1%14.5%6.0%15.0%
FCF margin25.4%19.0%20.4%21.0%21.7%
ROE16.7%15.6%8.3%3.7%9.0%
ROIC14.5%11.4%8.0%3.5%8.9%
ROA11.9%11.6%6.3%2.8%6.9%
Debt / equity0.190.230.200.230.14
Interest coverage27.7x31.9x12.8x12.6x45.5x
Current ratio3.444.843.873.464.55
Revenue growth+18.7%+2.8%+2.0%+5.2%−0.4%
EPS growth+94.0%+5.9%−40.6%−55.0%+145.8%
P/E at year end51.3x45.8x67.9x108.9x61.0x
EV / EBITDA at year end33.9x28.6x37.3x38.2x32.4x
FCF yield at year end2.01%1.66%2.07%3.21%2.37%
Dividend payout18.4%17.6%30.0%68.7%27.4%

Revenue by segment

FY2023FY2024FY2025FY2026
Consumables$917.7M$928.2M$972.3M$985.1M
Instruments$112.1M$108.3M$112.1M$110.6M
Royalty$21.1M$23.3M$23.7M$25.0M

Revenue by region · FY2026

U S$635.4M · 52%
Europe$294.2M · 24%
C N$104.1M · 9%
APAC, excluding Greater China$85.8M · 7%
UNITED KINGDOM$56.3M · 5%
Rest Of World$39.3M · 3%

Street estimates by fiscal year

Next report 2026-11-04 · consensus EPS $0.44 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$1.2B$1.2B – $1.2B$1.92$1.87 – $1.95837.7x
2027$1.3B$1.2B – $1.3B$2.03$1.96 – $2.10735.7x
2028$1.4B$1.4B – $1.4B$2.38$2.29 – $2.46530.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-12$0.52$0.52+0.2%$314.6M$321.2M+2.1%
2026-05-06$0.55$0.53−3.6%$316.1M$311.4M−1.5%
2026-02-04$0.43$0.46+7.0%$290.5M$295.9M+1.9%
2025-11-05$0.42$0.42−0.3%$291.3M$286.6M−1.6%
2025-08-06$0.50$0.53+6.1%$294.6M$317.0M+7.6%
2025-05-07$0.51$0.56+10.2%$325.5M$316.2M−2.8%
2025-02-05$0.39$0.42+8.8%$317.5M$297.0M−6.5%
2024-10-30$0.38$0.42+10.5%$280.3M$289.5M+3.3%
2024-08-07$0.49$0.49−1.0%$306.5M$306.1M−0.1%
2024-05-01$0.45$0.48+6.0%$306.1M$303.4M−0.9%
2024-02-01$0.41$0.40−3.0%$277.8M$272.6M−1.9%
2023-10-31$0.44$0.41−6.8%$291.4M$276.9M−5.0%
2023-08-08$0.55$0.550.0%$307.2M$301.3M−1.9%
2023-05-03$0.53$0.530.0%$296.7M$294.1M−0.8%
2023-02-02$0.49$0.47−3.7%$288.8M$271.6M−6.0%
2022-11-01$0.59$0.45−23.7%$281.8M$269.7M−4.3%
2022-08-04$0.52$0.51−1.7%$286.7M$288.2M+0.5%
2022-05-04$0.50$0.54+8.2%$279.3M$290.4M+4.0%
2022-02-01$0.45$0.47+4.4%$266.4M$269.3M+1.1%
2021-11-02$0.43$0.46+7.0%$252.8M$257.7M+1.9%
2021-08-05$0.42$0.47+11.9%$259.0M$259.0M0.0%
2021-05-06$0.38$0.45+18.4%$228.2M$243.6M+6.7%
2021-02-02$0.34$0.41+20.6%$206.5M$224.3M+8.6%
2020-11-05$0.28$0.36+28.6%$155.6M$204.2M+31.2%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.206-151.306-220.806-290.507-060.207-130.207-200.407-270.208-030.208-100.208-170.108-240.108-31
Week ofNotionalSharesTrades
2026-08-31$138.0M1,907,10931,790
2026-08-24$117.0M1,615,92926,954
2026-08-17$235.0M3,246,73540,162
2026-08-10$234.4M3,246,94241,816
2026-08-03$218.1M3,024,40841,972
2026-07-27$353.9M4,913,28248,887

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1527.3%
DateShort shareShort volumeTotal volume
2026-10-1527.3%266,669977,233
2026-10-1438.0%202,899534,093
2026-10-1355.5%447,677806,051
2026-10-1253.5%417,448780,010
2026-10-0934.0%179,177527,162
2026-10-0830.9%882,8612,861,687
2026-10-0740.2%324,971808,266
2026-10-0645.9%503,2631,097,385
2026-10-0539.1%230,312588,861
2026-10-0232.1%198,254617,117
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.5Jan-0.4Feb-0.2Mar+1.2Apr+2.6May+1.3Jun+2.2Jul-1.4Aug-0.5Sep-0.7Oct+2.2Nov+1.5Dec
MonthAvg returnUp yearsYears
Jan−0.5%45%20
Feb−0.4%60%20
Mar−0.2%48%21
Apr+1.2%60%20
May+2.6%60%20
Jun+1.3%60%20
Jul+2.2%70%20
Aug−1.4%35%20
Sep−0.5%55%20
Oct−0.7%50%20
Nov+2.2%70%20
Dec+1.5%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1458.4
MFI38.7
ADX37.1
Stochastic %K / %D66.1 / 58.8
Williams %R-14.3
CCI49
TSI / signal13.8 / 16.7
Chaikin money flow-0.27
ATR$0.16
Bollinger width0.3%
Volume vs 20-day avg0.85x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$72.50 (+0.1%)
SMA 50$72.37 (+0.3%)
SMA 200$62.72 (+15.7%)
EMA 21$72.46 (+0.2%)
EMA 50$71.56 (+1.4%)
EMA 200$64.97 (+11.7%)
Bollinger upper$72.63 (−0.1%)
Bollinger lower$72.37 (+0.3%)
Parabolic SAR$72.40 (+0.2%)
Open the live chart, 110+ indicators

About Bio-Techne Corporation

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.

https://www.bio-techne.com

Key executives

NameTitlePayBorn
Kim KeldermanChief Executive Officer, President & Director$2.3M1968
James T. HippelExecutive Vice President of Finance & Chief Financial Officer$1.7M1971
William A. GeistPresident of Protein Sciences Segment$1.3M1969
Shane BohnenSenior Vice President, General Counsel, Corporate Secretary & Chief Sustainability Officer$835,6611975
David ClairVice President of Investor Relations——
Gerry AndrosVice President of Sales and Marketing——
Luca CicchettiManaging Director——
Martin WirtzSenior Vice President of Strategy & Corporate Development——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Kim Kelderman President and CEO2025$936,000$3.9M$1.3M$8.2M
James Hippel Executive Vice President and CFO2025$723,000$4.5M$926,163$7.0M
William Geist President, Protein Sciences2025$573,200$1.2M$748,026$3.1M
Matthew McManus President, Diagnostics and Spatial Biology2025$572,000$1.2M$444,787$2.8M
Shane Bohnen Senior Vice President and General Counsel2025$431,000$767,575$386,478$2.0M

Employees

2k20192k20203k20213k20223k20233k20243k20253k2026

Dividends

Ex-dateAmountPaid
2026-08-24$0.082026-09-04
2026-08-17$0.082026-08-28
2026-05-18$0.082026-05-29
2026-02-13$0.082026-02-27
2025-11-17$0.082025-11-28
2025-08-18$0.082025-08-29
2025-05-19$0.082025-05-30
2025-02-14$0.082025-02-28

Moat model

Weak · Cost Advantage · 2026-06-30
Cost advantage58
Intangibles34
Switching costs40
Network effect42
Efficient scale32
Our component scores (0-100) and overall 41.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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