Recent News
Bio‑Techne filed its FY2025 annual report in late August 2025, reporting operational results for the period ending June 30, 2025. The company published a 2025 sustainability report in September highlighting product-design and supply-chain sustainability initiatives. Separately, the company disclosed a strategic move involving the Exosome Diagnostics business during the summer reporting cycle.
Technical Analysis
Directional indicators: ADX at 23.36 signals an emerging trend. DI+ at 32.78 shows an increasing trend, which supports a bullish directional bias; DI- registered a dip & reversal at 18.04, which indicates renewed downside pressure on prior selling momentum.
MACD: MACD at 1.59 with a MACD signal at 0.63 and an increasing MACD trend confirms bullish momentum and indicates the MACD has crossed above its signal line, reinforcing near-term upside pressure.
MRO (Momentum/Regression Oscillator): MRO reads -0.89 with an increasing MRO trend. The negative MRO indicates price sits below the target model and therefore carries potential to increase toward that target if the momentum trend continues.
RSI and momentum breadth: RSI at 54.38 shows neutral-to-favorable momentum but the RSI trend registered a peak & reversal, which warns of possible short-term momentum exhaustion and a higher probability of a pullback or consolidation ahead.
Price vs moving averages and overlays: Price closed at $59.19, above the 20-day average ($55.68), 50-day average ($54.27), and the 200-day average ($57.70), while the 12-day EMA trend shows increasing short-term price strength. Ichimoku lines (Tenkan/Kijun at 57.0 and cloud values ~53.7) place price above the cloud, supporting a bullish bias. The SuperTrend lower band at $57.81 provides a nearby technical support reference.
Net technical picture: momentum indicators provide a constructive bias, but RSI peak & reversal signals raise the probability of short-term consolidation; overall, technicals favor further upside if MACD-driven momentum sustains and ADX firming confirms trend strength.
Fundamental Analysis
Profitability and margins: Total revenue at $316,964,000 and gross profit at $198,812,000 produce a gross margin of 62.72%. Operating income registers at $116,689,000 and operating margin at 36.82%. EBIT registers negative at $-20,681,000, producing an EBIT margin of -6.53%, which sits below the industry peer mean of 19.76% and industry peer median of 19.47%.
Income, earnings and cash flow: Net income recorded $-17,678,000. EPS actual reached $0.53 versus an estimate of $0.50, producing a 6% EPS surprise. Operating cash flow reached $98,201,000 and free cash flow totaled $93,311,000; free cash flow yield stands at 1.12%, above the industry peer mean of 0.576% for free cash flow yield.
Balance sheet and working capital: Cash and short-term investments total $162,186,000 and the current ratio measures 3.46 with a quick ratio of 2.38, both above the industry peer means (current ratio mean 2.20; quick ratio mean 1.71), indicating ample short-term liquidity. Cash conversion cycle extended to 209 days, longer than the industry peer mean of 130 days, reflecting elevated working-capital duration driven by days‑inventory and days‑sales outstanding.
Leverage and capital structure: Total debt of $444,058,000 produces debt-to-assets of 17.36% and debt-to-equity of 0.23, both below the industry peer mean leverage levels, indicating relatively conservative balance‑sheet leverage despite a negative interest‑coverage ratio reflective of recent operating losses at the EBIT line.
Growth metrics: Revenue growth reads 0.25% on the latest measure while revenue growth QoQ and YoY show declines of -96.15% QoQ and -71.82% YoY in the reported series. Earnings growth stands at -5.36% with larger reported period-over-period declines on QoQ and YoY measures. Free cash growth shows a multi-period contraction despite positive absolute free cash flow.
Valuation context: Price multiples show a PE of 100.93x and forward PE near 95.57x; price-to-book at 4.34x sits slightly above the industry peer mean of 4.03 and the industry peer median of 3.43. Price-to-sales at 26.24x sits above the industry peer mean of 16.93. WMDST values the stock as fair-valued, reflecting the tension between strong gross and operating margins, elevated multiples, and recent negative net income/EBIT results.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-06 |
| NEXT REPORT DATE: | 2025-11-04 |
| CASH FLOW | Begin Period Cash Flow | $ 140.7 M |
| Operating Cash Flow | $ 98.2 M | |
| Capital Expenditures | $ -4.89 M | |
| Change In Working Capital | $ 21.6 M | |
| Dividends Paid | $ -12.39 M | |
| Cash Flow Delta | $ 21.5 M | |
| End Period Cash Flow | $ 162.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 317.0 M | |
| Forward Revenue | $ -380.32 M | |
| COSTS | ||
| Cost Of Revenue | $ 118.2 M | |
| Depreciation | $ 27.1 M | |
| Depreciation and Amortization | $ 27.1 M | |
| Research and Development | $ 26.0 M | |
| Total Operating Expenses | $ 200.3 M | |
| PROFITABILITY | ||
| Gross Profit | $ 198.8 M | |
| EBITDA | $ 6.4 M | |
| EBIT | $ -20.68 M | |
| Operating Income | $ 116.7 M | |
| Interest Income | $ 585.0 K | |
| Interest Expense | $ 2.2 M | |
| Net Interest Income | $ -1.59 M | |
| Income Before Tax | $ -22.86 M | |
| Tax Provision | $ -5.18 M | |
| Tax Rate | 22.665 % | |
| Net Income | $ -17.68 M | |
| Net Income From Continuing Operations | $ -17.68 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.50 | |
| EPS Actual | $ 0.53 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 6.0 % | |
| Forward EPS | $ 0.55 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.6 B | |
| Intangible Assets | $ 1.3 B | |
| Net Tangible Assets | $ 572.3 M | |
| Total Current Assets | $ 608.3 M | |
| Cash and Short-Term Investments | $ 162.2 M | |
| Cash | $ 162.2 M | |
| Net Receivables | $ 206.9 M | |
| Inventory | $ 189.4 M | |
| Long-Term Investments | $ 19.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 25.3 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 175.8 M | |
| Net Debt | $ 183.8 M | |
| Total Debt | $ 444.1 M | |
| Total Liabilities | $ 639.1 M | |
| EQUITY | ||
| Total Equity | $ 1.9 B | |
| Retained Earnings | $ 1.1 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 12.38 | |
| Shares Outstanding | 154.972 M | |
| Revenue Per-Share | $ 2.05 | |
| VALUATION | Market Capitalization | $ 8.3 B |
| Enterprise Value | $ 8.6 B | |
| Enterprise Multiple | 1337.48 | |
| Enterprise Multiple QoQ | 874.439 % | |
| Enterprise Multiple YoY | 712.958 % | |
| Enterprise Multiple IPRWA | TECH: 1337.48 high: 142.585 median: 72.241 mean: 71.615 low: -148.838 |
|
| EV/R | 27.132 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.333 | |
| Asset To Liability | 4.003 | |
| Debt To Capital | 0.188 | |
| Debt To Assets | 0.174 | |
| Debt To Assets QoQ | 8.392 % | |
| Debt To Assets YoY | 1715.9 % | |
| Debt To Assets IPRWA | high: 0.847 median: 0.348 mean: 0.33 TECH: 0.174 low: 0.051 |
|
| Debt To Equity | 0.231 | |
| Debt To Equity QoQ | 10.274 % | |
| Debt To Equity YoY | 1752.842 % | |
| Debt To Equity IPRWA | high: 3.117 median: 0.697 mean: 0.685 TECH: 0.231 low: 0.067 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.335 | |
| Price To Book QoQ | -3.123 % | |
| Price To Book YoY | -25.323 % | |
| Price To Book IPRWA | high: 8.583 TECH: 4.335 mean: 4.032 median: 3.432 low: 0.246 |
|
| Price To Earnings (P/E) | 100.934 | |
| Price To Earnings QoQ | -1.88 % | |
| Price To Earnings YoY | -34.845 % | |
| Price To Earnings IPRWA | high: 111.763 TECH: 100.934 mean: 79.906 median: 79.394 low: -75.925 |
|
| PE/G Ratio | -18.841 | |
| Price To Sales (P/S) | 26.243 | |
| Price To Sales QoQ | -8.114 % | |
| Price To Sales YoY | -33.113 % | |
| Price To Sales IPRWA | high: 37.916 TECH: 26.243 mean: 16.93 median: 15.972 low: 0.528 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 95.566 | |
| Forward PE/G | -17.84 | |
| Forward P/S | -21.871 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -611.129 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.122 | |
| Asset Turnover Ratio QoQ | 2.421 % | |
| Asset Turnover Ratio YoY | 7.984 % | |
| Asset Turnover Ratio IPRWA | high: 0.184 TECH: 0.122 mean: 0.118 median: 0.108 low: 0.038 |
|
| Receivables Turnover | 1.428 | |
| Receivables Turnover Ratio QoQ | 2.745 % | |
| Receivables Turnover Ratio YoY | 9.442 % | |
| Receivables Turnover Ratio IPRWA | high: 2.963 TECH: 1.428 mean: 1.343 median: 1.273 low: 0.962 |
|
| Inventory Turnover | 0.621 | |
| Inventory Turnover Ratio QoQ | 15.934 % | |
| Inventory Turnover Ratio YoY | 8.551 % | |
| Inventory Turnover Ratio IPRWA | high: 2.37 median: 1.196 mean: 1.043 TECH: 0.621 low: 0.187 |
|
| Days Sales Outstanding (DSO) | 63.913 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 209.183 | |
| Cash Conversion Cycle Days QoQ | 2.106 % | |
| Cash Conversion Cycle Days YoY | 2.081 % | |
| Cash Conversion Cycle Days IPRWA | high: 448.101 TECH: 209.183 mean: 130.2 median: 107.055 low: 51.486 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.733 | |
| CapEx To Revenue | -0.015 | |
| CapEx To Depreciation | -0.18 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.3 B | |
| Net Invested Capital | $ 2.3 B | |
| Invested Capital | $ 2.3 B | |
| Net Tangible Assets | $ 572.3 M | |
| Net Working Capital | $ 432.5 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.922 | |
| Current Ratio | 3.459 | |
| Current Ratio QoQ | -6.684 % | |
| Current Ratio YoY | -10.704 % | |
| Current Ratio IPRWA | high: 12.395 TECH: 3.459 mean: 2.205 median: 1.933 low: 0.756 |
|
| Quick Ratio | 2.382 | |
| Quick Ratio QoQ | -7.596 % | |
| Quick Ratio YoY | -13.266 % | |
| Quick Ratio IPRWA | high: 11.708 TECH: 2.382 mean: 1.714 median: 1.496 low: 0.701 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 69.06 | |
| Cost Of Debt | 0.388 % | |
| Interest Coverage Ratio | -9.495 | |
| Interest Coverage Ratio QoQ | -147.311 % | |
| Interest Coverage Ratio YoY | -153.937 % | |
| Interest Coverage Ratio IPRWA | high: 33.857 mean: 7.707 median: 5.23 TECH: -9.495 low: -23.105 |
|
| Operating Cash Flow Ratio | 0.199 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 25.57 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -1.427 | |
| Dividend Payout Ratio | -0.701 | |
| Dividend Rate | $ 0.08 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -3.267 % | |
| Revenue Growth | 0.248 % | |
| Revenue Growth QoQ | -96.153 % | |
| Revenue Growth YoY | -71.818 % | |
| Revenue Growth IPRWA | high: 27.38 % mean: 5.116 % median: 4.728 % TECH: 0.248 % low: -18.123 % |
|
| Earnings Growth | -5.357 % | |
| Earnings Growth QoQ | -116.071 % | |
| Earnings Growth YoY | -357.177 % | |
| Earnings Growth IPRWA | high: 71.304 % mean: 6.307 % median: 4.078 % TECH: -5.357 % low: -61.905 % |
|
| MARGINS | ||
| Gross Margin | 62.724 % | |
| Gross Margin QoQ | -7.567 % | |
| Gross Margin YoY | -5.582 % | |
| Gross Margin IPRWA | high: 89.231 % TECH: 62.724 % mean: 46.038 % median: 40.612 % low: 3.787 % |
|
| EBIT Margin | -6.525 % | |
| EBIT Margin QoQ | -151.217 % | |
| EBIT Margin YoY | -145.218 % | |
| EBIT Margin IPRWA | high: 65.47 % mean: 19.763 % median: 19.467 % TECH: -6.525 % low: -167.282 % |
|
| Return On Sales (ROS) | 36.815 % | |
| Return On Sales QoQ | 188.972 % | |
| Return On Sales YoY | 155.128 % | |
| Return On Sales IPRWA | high: 40.537 % TECH: 36.815 % median: 17.652 % mean: 16.273 % low: -167.282 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 93.3 M | |
| Free Cash Flow Yield | 1.122 % | |
| Free Cash Flow Yield QoQ | 227.114 % | |
| Free Cash Flow Yield YoY | 134.238 % | |
| Free Cash Flow Yield IPRWA | high: 13.177 % TECH: 1.122 % median: 0.637 % mean: 0.576 % low: -16.613 % |
|
| Free Cash Growth | 201.032 % | |
| Free Cash Growth QoQ | -434.958 % | |
| Free Cash Growth YoY | -1946.024 % | |
| Free Cash Growth IPRWA | TECH: 201.032 % high: 98.619 % mean: -28.316 % median: -50.305 % low: -92.068 % |
|
| Free Cash To Net Income | -5.278 | |
| Cash Flow Margin | 11.043 % | |
| Cash Flow To Earnings | -1.98 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -0.68 % | |
| Return On Assets QoQ | -180.0 % | |
| Return On Assets YoY | -145.455 % | |
| Return On Assets IPRWA | high: 3.831 % mean: 1.791 % median: 1.615 % TECH: -0.68 % low: -14.729 % |
|
| Return On Capital Employed (ROCE) | -0.868 % | |
| Return On Equity (ROE) | -0.009 | |
| Return On Equity QoQ | -182.306 % | |
| Return On Equity YoY | -146.942 % | |
| Return On Equity IPRWA | high: 0.104 mean: 0.037 median: 0.032 TECH: -0.009 low: -0.217 |
|
| DuPont ROE | -0.898 % | |
| Return On Invested Capital (ROIC) | -0.706 % | |
| Return On Invested Capital QoQ | -152.103 % | |
| Return On Invested Capital YoY | -97.916 % | |
| Return On Invested Capital IPRWA | high: 5.983 % mean: 2.51 % median: 2.332 % TECH: -0.706 % low: -17.594 % |
|