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biote Corp. (BTMD) 10-Year Financial Performance & Capital Metrics

BTMD • • Industrial / General
HealthcareHealthcare FacilitiesAlternative & Wellness ServicesHormone & Wellness Therapy
Aboutbiote Corp. operates in medical practice-building business within the hormone optimization space. The company offers a platform for Biote-certified practitioners to optimize imbalances in their patient's hormone, vitamin, and mineral levels, as well as prescribe bioidentical hormone therapies and recommend dietary supplements. It also sells Biote-branded dietary supplements; and sterile pellet insertion kits for men and women. The company was founded in 2011 and is headquartered in Irvine, Texas.Show more
  • Revenue $197M +6.4%
  • EBITDA $35M +19.5%
  • Net Income $3M -4.8%
  • EPS (Diluted) 0.09 -29.2%
  • Gross Margin 70.52% +2.5%
  • EBITDA Margin 17.84% +12.3%
  • Operating Margin 16.03% +3.7%
  • Net Margin 1.6% -10.5%
  • ROE -
  • ROIC -
  • Debt/Equity -
  • Interest Coverage 2.87 -36.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓FCF machine: 19.7% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 12.4%
  • ✓Healthy dividend yield of 5.8%
  • ✓Healthy 5Y average net margin of 10.2%
  • ✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

  • ✗Profits declining 31.7% over 5 years
  • ✗Weak momentum: RS Rating 16 (bottom 16%)
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 33.3% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y12.39%
3Y12.26%
TTM1.34%

Profit (Net Income) CAGR

10Y-
5Y-31.73%
3Y-54.09%
TTM262.05%

EPS CAGR

10Y-
5Y-49.52%
3Y-
TTM294.26%

ROCE

10Y Avg85.39%
5Y Avg57.13%
3Y Avg-12.38%
Latest31%

Peer Comparison

Hormone & Wellness Therapy
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
BTMDbiote Corp.73.33M2.3925.956.38%14.72%52.93%

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+109.98M116.57M139.4M164.96M185.36M197.19M
Revenue Growth %-0.06%0.2%0.18%0.12%0.06%
Cost of Goods Sold+43.56M44.93M48.82M54.58M57.88M58.13M
COGS % of Revenue0.4%0.39%0.35%0.33%0.31%0.29%
Gross Profit+66.41M71.64M90.58M110.38M127.48M139.06M
Gross Margin %0.6%0.61%0.65%0.67%0.69%0.71%
Gross Profit Growth %-0.08%0.26%0.22%0.15%0.09%
Operating Expenses+42.88M39.86M56.02M171.1M98.83M107.45M
OpEx % of Revenue0.39%0.34%0.4%1.04%0.53%0.54%
Selling, General & Admin39.29M37.43M53.96M171.1M0107.45M
SG&A % of Revenue0.36%0.32%0.39%1.04%-0.54%
Research & Development000000
R&D % of Revenue------
Other Operating Expenses3.59M2.43M2.06M098.83M0
Operating Income+23.53M31.78M34.56M-60.72M28.66M31.61M
Operating Margin %0.21%0.27%0.25%-0.37%0.15%0.16%
Operating Income Growth %-0.35%0.09%-2.76%1.47%0.1%
EBITDA+24.36M32.92M35.96M-58.52M29.45M35.19M
EBITDA Margin %0.22%0.28%0.26%-0.35%0.16%0.18%
EBITDA Growth %-0.35%0.09%-2.63%1.5%0.19%
D&A (Non-Cash Add-back)832K1.14M1.4M2.2M794K3.57M
EBIT23.46M31.78M34.58M5.76M38.74M12.02M
Net Interest Income+-2.08M-2.42M-1.67M-4.05M-6.36M-11M
Interest Income000000
Interest Expense2.08M2.42M1.67M4.05M6.36M11M
Other Income/Expense-2.15M-2.43M-1.66M62.43M-28.78M-30.59M
Pretax Income+21.38M29.35M32.91M1.71M-123K1.02M
Pretax Margin %0.19%0.25%0.24%0.01%-0%0.01%
Income Tax+93K189K286K388K2.68M970K
Effective Tax Rate %1%0.99%0.99%-0.57%-26.96%3.11%
Net Income+21.29M29.16M32.62M-969K3.32M3.16M
Net Margin %0.19%0.25%0.23%-0.01%0.02%0.02%
Net Income Growth %-0.37%0.12%-1.03%4.42%-0.05%
Net Income (Continuing)21.29M29.16M32.62M1.32M-2.81M46K
Discontinued Operations000000
Minority Interest000-13.81M-7.15M3.73M
EPS (Diluted)+2.813.85-0.870.160.130.09
EPS Growth %-0.37%-1.23%1.18%-0.19%-0.29%
EPS (Basic)2.813.85-0.870.160.130.09
Diluted Shares Outstanding7.57M7.57M7.57M8.06M25.71M34.27M
Basic Shares Outstanding7.57M7.57M7.57M8.06M25.71M34.27M
Dividend Payout Ratio--0.35%-2.62%1.5%

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+19.3M27.82M47.09M101.18M122.34M68.13M
Cash & Short-Term Investments10.49M17.21M26.77M79.23M89M39.34M
Cash Only10.49M17.21M26.77M79.23M89M39.34M
Short-Term Investments000000
Accounts Receivable4.02M4.72M5.23M6.95M8.17M7.7M
Days Sales Outstanding13.3314.7813.715.3716.114.26
Inventory3.92M4.32M9.62M11.18M17.31M14.85M
Days Inventory Outstanding32.8235.1371.8974.79109.1593.21
Other Current Assets003.94M0308K111K
Total Non-Current Assets+4.59M4.76M7.25M10.47M32.95M54.24M
Property, Plant & Equipment2.76M2.17M2.69M3.56M3.1M10.22M
Fixed Asset Turnover39.79x53.84x51.80x46.39x59.89x19.30x
Goodwill000005.83M
Intangible Assets1.82M2.6M4.55M5.07M4.97M9.38M
Long-Term Investments000000
Other Non-Current Assets-4.59M000072K
Total Assets+23.89M32.59M54.33M111.64M155.29M122.37M
Asset Turnover4.60x3.58x2.57x1.48x1.19x1.61x
Asset Growth %-0.36%0.67%1.05%0.39%-0.21%
Total Current Liabilities+13.51M11.71M17.31M18.77M22.21M51.51M
Accounts Payable3.19M2.44M4.35M4.11M4.16M5.81M
Days Payables Outstanding26.7219.8632.5227.526.236.5
Short-Term Debt5M5M5M6.25M6.25M6.25M
Deferred Revenue (Current)01000K1000K1000K1000K1000K
Other Current Liabilities2.58M1.36M2.21M4.22M6.07M30.32M
Current Ratio1.43x2.38x2.72x5.39x5.51x1.32x
Quick Ratio1.14x2.01x2.16x4.80x4.73x1.03x
Cash Conversion Cycle19.4330.0453.0762.6699.0470.97
Total Non-Current Liabilities+43.31M37.95M32.89M151.15M169.63M173.06M
Long-Term Debt41.52M36.74M31.96M112.09M106.63M101.2M
Capital Lease Obligations614K375K127K1.93M1.68M2.89M
Deferred Tax Liabilities000000
Other Non-Current Liabilities1.17M0036.21M59.99M67.41M
Total Liabilities56.82M49.66M50.2M169.92M191.84M224.57M
Total Debt+47.13M42.35M37.34M120.43M114.87M110.86M
Net Debt36.65M25.15M10.57M41.2M25.87M71.52M
Debt / Equity--9.05x---
Debt / EBITDA1.93x1.29x1.04x-3.90x3.15x
Net Debt / EBITDA1.50x0.76x0.29x-0.88x2.03x
Interest Coverage11.30x13.11x20.66x-15.00x4.50x2.87x
Total Equity+-32.93M-17.07M4.13M-58.27M-36.55M-102.2M
Equity Growth %-0.48%1.24%-15.13%0.37%-1.8%
Book Value per Share-4.35-2.250.54-7.23-1.42-2.98
Total Shareholders' Equity-32.93M-17.07M4.13M-44.46M-29.4M-105.93M
Common Stock0006K6K4K
Retained Earnings-32.9M-17.05M4.17M-44.46M-29.39M-100.3M
Treasury Stock00000-5.6M
Accumulated OCI-33K-23K-40K-5K-12K-35K
Minority Interest000-13.81M-7.15M3.73M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+25.35M26.43M33.72M-9.16M26.88M45.24M
Operating CF Margin %0.23%0.23%0.24%-0.06%0.15%0.23%
Operating CF Growth %-0.04%0.28%-1.27%3.94%0.68%
Net Income21.29M29.16M32.62M1.32M3.32M46K
Depreciation & Amortization832K1.14M1.4M2.2M2.99M3.57M
Stock-Based Compensation00082.18M9.06M8.73M
Deferred Taxes000-743K721K-2.9M
Other Non-Cash Items837K1.71M1.16M-58.3M19.72M25.85M
Working Capital Changes2.4M-5.59M-1.46M-35.81M-8.93M9.93M
Change in Receivables-714K-1.48M-752K-1.56M-505K-2.27M
Change in Inventory1.3M-904K-5.76M-1.71M-6.1M3.71M
Change in Payables1.22M-884K1.6M416K-165K1.54M
Cash from Investing+-1.67M-1.39M-3.81M-1.84M-2.71M-18.8M
Capital Expenditures-704K-295K-1.45M-333K-359K-6.43M
CapEx % of Revenue0.01%0%0.01%0%0%0.03%
Acquisitions------
Investments------
Other Investing-968K-1.1M-2.36M-1.5M-2.35M-526K
Cash from Financing+-13.55M-18.32M-20.34M63.46M-14.38M-76.08M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid-56.63M-13.32M-11.4M-12.89M-8.69M-4.74M
Share Repurchases------
Other Financing-1.11M0-3.94M-8.05M420K-59.77M
Net Change in Cash------
Free Cash Flow+23.68M25.03M29.91M-10.99M24.17M38.81M
FCF Margin %0.22%0.21%0.21%-0.07%0.13%0.2%
FCF Growth %-0.06%0.19%-1.37%3.2%0.61%
FCF per Share3.133.303.95-1.360.941.13
FCF Conversion (FCF/Net Income)1.19x0.91x1.03x9.45x8.11x14.33x
Interest Paid1.63M2.49M1.46M4.43M9.48M9.54M
Taxes Paid178K189K171K282K4.43M2.59M

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)--790.76%---
Return on Invested Capital (ROIC)474.46%404.3%227.68%---
Gross Margin60.39%61.46%64.98%66.92%68.78%70.52%
Net Margin19.36%25.02%23.4%-0.59%1.79%1.6%
Debt / Equity--9.05x---
Interest Coverage11.30x13.11x20.66x-15.00x4.50x2.87x
FCF Conversion1.19x0.91x1.03x9.45x8.11x14.33x
Revenue Growth-5.99%19.58%18.34%12.37%6.38%

Revenue by Segment

202220232024
Product Revenue163.13M182.57M192.24M
Product Revenue Growth-11.92%5.29%
Dietary Supplements32.41M38.09M36.02M
Dietary Supplements Growth-17.52%-5.44%
Service Revenue1.82M2.79M4.95M
Service Revenue Growth-52.80%77.65%
Other Service Revenue-697K2.27M
Other Service Revenue Growth--225.54%
Training Service Revenue973K1.17M1.46M
Training Service Revenue Growth-20.25%24.44%

Revenue by Geography

202220232024
UNITED STATES164.52M181.84M196.2M
UNITED STATES Growth-10.52%7.90%
All Other Country434K735K1.02M
All Other Country Growth-69.35%38.64%

Frequently Asked Questions

Valuation & Price

biote Corp. (BTMD) has a price-to-earnings (P/E) ratio of 26.0x. This suggests investors expect higher future growth.

Growth & Financials

biote Corp. (BTMD) reported $195.6M in revenue for fiscal year 2024. This represents a 78% increase from $110.0M in 2019.

biote Corp. (BTMD) grew revenue by 6.4% over the past year. This is steady growth.

Yes, biote Corp. (BTMD) is profitable, generating $28.8M in net income for fiscal year 2024 (1.6% net margin).

Dividend & Returns

Yes, biote Corp. (BTMD) pays a dividend with a yield of 5.79%. This makes it attractive for income-focused investors.

biote Corp. (BTMD) generated $34.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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