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Bio-Techne Corporation (TECH) 10-Year Financial Performance & Capital Metrics

TECH • • Industrial / General
HealthcareBiotechnologyPlatform & Technology CompaniesDiagnostics & Immune Monitoring
AboutBio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. 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. It offers its products under R&D Systems, Tocris Biosciences, Novus Biologicals, ProteinSimple, Advanced Cell Diagnostics, Exosome Diagnostics, and Asuragen brands. The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014. Bio-Techne Corporation was founded in 1976 and is headquartered in Minneapolis, Minnesota.Show more
  • Revenue $1.22B +5.2%
  • EBITDA $212M -33.4%
  • Net Income $73M -56.3%
  • EPS (Diluted) 0.46 -56.2%
  • Gross Margin 64.8% -2.4%
  • EBITDA Margin 17.4% -36.7%
  • Operating Margin 8.38% -53.0%
  • Net Margin 6.02% -58.5%
  • ROE 3.68% -55.8%
  • ROIC 3.38% -50.1%
  • Debt/Equity 0.23 +14.1%
  • Interest Coverage 12.02 -8.5%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓FCF machine: 21.0% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 10.5%
  • ✓Healthy 5Y average net margin of 17.1%

✗Weaknesses

  • ✗Profits declining 20.4% over 5 years

* 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

10Y10.43%
5Y10.55%
3Y3.33%
TTM3.85%

Profit (Net Income) CAGR

10Y-3.76%
5Y-20.37%
3Y-35.38%
TTM-48.26%

EPS CAGR

10Y-4.38%
5Y-20.52%
3Y-34.8%
TTM-47.87%

ROCE

10Y Avg10.05%
5Y Avg10.21%
3Y Avg8.42%
Latest4.15%

Peer Comparison

Diagnostics & Immune Monitoring
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TECHBio-Techne Corporation10.9B69.96152.095.23%6.41%3.97%2.35%0.23
SPRYARS Pharmaceuticals, Inc.1.1B11.09142.002970.63%-56.06%-54.21%1.18%0.00
VCYTVeracyte, Inc.3.24B41.00132.2623.46%6.12%2.41%1.97%0.04
CSBRChampions Oncology, Inc.99.56M7.1721.7313.54%4.32%59.65%7.03%1.62
MDXGMiMedx Group, Inc.851.59M5.7520.548.52%10.38%17.09%7.58%0.13
LTRNLantern Pharma Inc.39.26M3.51-0.00-197.36%0.01
SEERSeer, Inc.107.44M1.91-1.37-8.13%-486.02%-29.19%0.08
IMDXInsight Molecular Diagnostics Inc.189.76M6.62-1.4225.15%-13.81%-14.81%

Profit & Loss

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+499.02M563M642.99M714.01M738.69M931.03M1.11B1.14B1.16B1.22B
Revenue Growth %0.1%0.13%0.14%0.11%0.03%0.26%0.19%0.03%0.02%0.05%
Cost of Goods Sold+162.36M188.46M210.85M240.51M255.5M298.18M349.1M366.89M389.33M429.36M
COGS % of Revenue0.33%0.33%0.33%0.34%0.35%0.32%0.32%0.32%0.34%0.35%
Gross Profit+336.66M374.54M432.14M473.49M483.19M632.85M756.5M769.82M769.73M790.27M
Gross Margin %0.67%0.67%0.67%0.66%0.65%0.68%0.68%0.68%0.66%0.65%
Gross Profit Growth %0.1%0.11%0.15%0.1%0.02%0.31%0.2%0.02%-0%0.03%
Operating Expenses+186.07M252.76M295.96M326.77M325.77M395.55M459.91M470.87M563.04M688.02M
OpEx % of Revenue0.37%0.45%0.46%0.46%0.44%0.42%0.42%0.41%0.49%0.56%
Selling, General & Admin140.88M199.24M240.64M264.36M240.88M289.92M339M352.44M393.32M415.1M
SG&A % of Revenue0.28%0.35%0.37%0.37%0.33%0.31%0.31%0.31%0.34%0.34%
Research & Development45.19M53.51M55.33M62.41M65.19M70.6M87.14M92.49M96.66M99.5M
R&D % of Revenue0.09%0.1%0.09%0.09%0.09%0.08%0.08%0.08%0.08%0.08%
Other Operating Expenses000019.7M35.03M33.77M25.94M73.06M173.42M
Operating Income+150.59M121.78M136.18M125.58M157.42M237.3M296.59M298.94M206.69M102.25M
Operating Margin %0.3%0.22%0.21%0.18%0.21%0.25%0.27%0.26%0.18%0.08%
Operating Income Growth %0.02%-0.19%0.12%-0.08%0.25%0.51%0.25%0.01%-0.31%-0.51%
EBITDA+193.36M181.82M200.64M203.75M240.16M325.04M397.66M406.18M318.4M212.16M
EBITDA Margin %0.39%0.32%0.31%0.29%0.33%0.35%0.36%0.36%0.27%0.17%
EBITDA Growth %0.05%-0.06%0.1%0.02%0.18%0.35%0.22%0.02%-0.22%-0.33%
D&A (Non-Cash Add-back)42.76M60.04M64.46M78.17M82.74M87.75M101.07M107.24M111.71M109.9M
EBIT149.23M119.32M136.14M133.72M295.67M162.13M312.69M349.87M201.43M106.97M
Net Interest Income+-1.5M-7.06M-9.78M-21.14M-18.59M-13.48M-10.52M-7.8M-12.41M-4.62M
Interest Income249K304K409K569K605K473K794K3.41M3.32M3.89M
Interest Expense1.75M7.36M10.19M21.7M19.2M13.95M11.31M11.21M15.74M8.51M
Other Income/Expense-3.11M-8.62M-10.23M-34.7M119.06M-89.12M4.8M39.72M-21M-3.79M
Pretax Income+147.48M113.16M125.95M112.02M276.48M148.18M301.39M338.66M185.69M98.46M
Pretax Margin %0.3%0.2%0.2%0.16%0.37%0.16%0.27%0.3%0.16%0.08%
Income Tax+43.01M35.88M-602K15.94M47.18M8.59M38.29M53.22M17.58M25.06M
Effective Tax Rate %0.71%0.68%1%0.86%0.83%0.95%0.9%0.84%0.91%0.75%
Net Income+104.48M77.29M125.35M96.07M229.3M140.41M272.05M285.26M168.1M73.4M
Net Margin %0.21%0.14%0.19%0.13%0.31%0.15%0.25%0.25%0.15%0.06%
Net Income Growth %-0.03%-0.26%0.62%-0.23%1.39%-0.39%0.94%0.05%-0.41%-0.56%
Net Income (Continuing)104.48M76.09M126.15M96.07M229.3M139.59M263.1M285.44M168.1M73.4M
Discontinued Operations0000000000
Minority Interest000008.26M-759K000
EPS (Diluted)+0.700.520.820.621.450.871.661.761.050.46
EPS Growth %-0.03%-0.26%0.58%-0.24%1.34%-0.4%0.91%0.06%-0.4%-0.56%
EPS (Basic)0.700.520.840.641.500.911.731.811.070.47
Diluted Shares Outstanding149.3M150M152.22M155.57M157.6M161.93M164.12M161.85M160.77M159.72M
Basic Shares Outstanding148.78M149.25M149.9M151.12M152.8M154.99M156.88M157.18M157.71M157.52M
Dividend Payout Ratio0.46%0.61%0.38%0.5%0.21%0.35%0.18%0.18%0.3%0.69%

Balance Sheet

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+253.89M345.26M398.37M412.61M520.92M510.61M605.56M621.48M617.42M608.3M
Cash & Short-Term Investments95.83M157.71M181.75M166.03M270.89M231.55M247.03M204.31M152.86M162.19M
Cash Only64.24M91.61M121.99M100.89M146.63M199.09M172.57M180.57M151.79M162.19M
Short-Term Investments31.6M66.1M59.76M65.15M124.27M32.46M74.46M23.74M1.07M0
Accounts Receivable93.39M116.83M120.3M137.47M122.53M145.38M194.55M218.47M241.39M206.88M
Days Sales Outstanding68.3175.7468.2970.2760.555764.2370.1576.0261.91
Inventory57.1M60.15M85.65M91.05M103.15M116.75M141.12M171.64M179.73M189.45M
Days Inventory Outstanding128.37116.5148.26138.18147.36142.91147.55170.76168.5161.05
Other Current Assets7.56M13.33M10.67M18.06M24.34M16.92M22.86M27.07M43.43M49.79M
Total Non-Current Assets+875.62M1.21B1.19B1.47B1.51B1.75B1.69B2.02B2.09B1.95B
Property, Plant & Equipment132.36M135.12M145.35M154.04M248.29M281.74M288.8M324.53M342.44M319.12M
Fixed Asset Turnover3.77x4.17x4.42x4.64x2.98x3.30x3.83x3.50x3.38x3.82x
Goodwill430.88M579.03M597.89M732.67M728.31M843.07M822.1M872.74M972.66M980.93M
Intangible Assets310.52M452.04M446.33M579.43M516.54M615.97M531.52M534.64M507.08M365.6M
Long-Term Investments-62.84M40.38M2.66M-89.75M000255.86M242.34M250.98M
Other Non-Current Assets1.92M-116.98M-83.69M5.67M13.52M11.57M46.83M29.45M21.93M22.63M
Total Assets+1.13B1.56B1.59B1.88B2.03B2.26B2.29B2.64B2.7B2.56B
Asset Turnover0.44x0.36x0.40x0.38x0.36x0.41x0.48x0.43x0.43x0.48x
Asset Growth %0.06%0.38%0.02%0.18%0.08%0.12%0.01%0.15%0.02%-0.05%
Total Current Liabilities+54.15M135.36M78.69M101.98M106.67M152.28M176.02M128.51M159.38M175.85M
Accounts Payable20.65M16.86M18.45M16.21M23.09M29.38M33.87M25.68M37.97M25.31M
Days Payables Outstanding46.4332.6531.9424.632.9935.9735.4125.5535.5921.52
Short-Term Debt3.76M0012.5M12.5M12.5M12.5M000
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities1.78M65.1M21.4M3.4M03.89M1.24M1.41M2.15M1.65M
Current Ratio4.69x2.55x5.06x4.05x4.88x3.35x3.44x4.84x3.87x3.46x
Quick Ratio3.63x2.11x3.97x3.15x3.92x2.59x2.64x3.50x2.75x2.38x
Cash Conversion Cycle150.25159.59184.61183.85174.92163.94176.37215.36208.92201.44
Total Non-Current Liabilities+196.08M470.47M435.37M616.84M539.73M539.44M417.78M543.67M475.64M463.21M
Long-Term Debt91.5M343.77M339M492.66M344.24M328.83M243.41M350M319M346M
Capital Lease Obligations000067.25M67.63M58.13M93.77M87.62M83.96M
Deferred Tax Liabilities62.76M118M86.29M89.75M101.09M93.13M98.99M88.98M55.86M6.17M
Other Non-Current Liabilities104.65M129.3M9.34M124.18M27.15M49.86M17.24M10.92M13.16M27.08M
Total Liabilities250.23M605.83M514.06M718.82M646.4M691.72M593.79M672.18M635.02M639.06M
Total Debt+133.76M349.9M339M505.16M433.53M420.55M325.97M454.96M419.54M444.06M
Net Debt69.52M258.29M217.01M404.27M286.9M221.46M153.4M274.39M267.75M281.87M
Debt / Equity0.15x0.37x0.31x0.43x0.31x0.27x0.19x0.23x0.20x0.23x
Debt / EBITDA0.69x1.92x1.69x2.48x1.81x1.29x0.82x1.12x1.32x2.09x
Net Debt / EBITDA0.36x1.42x1.08x1.98x1.19x0.68x0.39x0.68x0.84x1.33x
Interest Coverage86.15x16.54x13.37x5.79x8.20x17.01x26.23x26.66x13.13x12.02x
Total Equity+879.28M950.83M1.08B1.17B1.38B1.57B1.7B1.97B2.07B1.92B
Equity Growth %0.04%0.08%0.13%0.08%0.18%0.14%0.08%0.16%0.05%-0.07%
Book Value per Share5.896.347.097.498.769.7010.3612.1512.8712.01
Total Shareholders' Equity879.28M950.83M1.08B1.17B1.38B1.56B1.7B1.97B2.07B1.92B
Common Stock372K374K376K379K385K390K1.57M1.58M1.58M1.55M
Retained Earnings770.55M799.03M876.93M931.93M1.06B1.09B1.12B1.31B1.33B1.07B
Treasury Stock0000000000
Accumulated OCI-70.41M-48.94M-44.81M-83.52M-97.2M-57.29M-75.2M-66.06M-78.32M-59.88M
Minority Interest000008.26M-759K000

Cash Flow

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+143.87M143.45M170.37M181.62M205.22M352.16M325.27M254.39M298.98M287.56M
Operating CF Margin %0.29%0.25%0.26%0.25%0.28%0.38%0.29%0.22%0.26%0.24%
Operating CF Growth %0.03%-0%0.19%0.07%0.13%0.72%-0.08%-0.22%0.18%-0.04%
Net Income104.48M76.09M126.15M96.07M229.3M139.59M263.1M285.44M168.07M73.4M
Depreciation & Amortization42.76M60.04M64.46M78.17M82.74M87.75M101.07M107.24M111.71M109.9M
Stock-Based Compensation9.43M14.63M28.24M32.28M32.37M48.98M42.18M39.23M38.04M40.83M
Deferred Taxes-2.62M-3.43M-46.72M-13.58M13.13M-27.43M6.82M-29.57M-39.45M-51.11M
Other Non-Cash Items4.87M10.06M-3.67M16.43M-147.07M74.02M-18.38M-57.37M30.68M102.99M
Working Capital Changes-15.04M-13.93M1.9M-27.75M-5.25M29.26M-69.52M-90.58M-10.11M11.54M
Change in Receivables-217.08M-19.69M-308.66M-2.7M6.56M-15.55M-57.6M-23.36M-20.53M42.6M
Change in Inventory-6.63M-732K-13.33M-13.65M-14.86M-7.14M-32.01M-30.17M-14.21M-18.14M
Change in Payables8.92M5.7M5.03M6.1M10.34M19.09M12.74M-7.91M25.77M-13.95M
Cash from Investing+-107.57M-305.95M-38.71M-336.8M27.09M-243.52M-96.85M-265.65M-203.03M-35.18M
Capital Expenditures-16.9M-15.18M-20.93M-25.41M-51.74M-44.3M-44.91M-38.24M-62.88M-31.01M
CapEx % of Revenue0.03%0.03%0.03%0.04%0.07%0.05%0.04%0.03%0.05%0.03%
Acquisitions----------
Investments----------
Other Investing-25K-36.99M680K-21.9M00-53M-232M7M9.74M
Cash from Financing+-23.08M189.39M-99.19M134.38M-183.8M-62.55M-242.85M22.62M-122.4M-253.91M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-47.61M-47.33M-47.97M-48.36M-48.9M-49.62M-50.19M-50.28M-50.42M-50.39M
Share Repurchases----------
Other Financing6.02M-15.56M-46.72M31.65M63.71M45.75M53.78M-1.54M39.06M45.22M
Net Change in Cash----------
Free Cash Flow+126.97M128.27M149.43M156.21M153.47M307.86M280.36M216.15M236.1M256.55M
FCF Margin %0.25%0.23%0.23%0.22%0.21%0.33%0.25%0.19%0.2%0.21%
FCF Growth %0.06%0.01%0.16%0.05%-0.02%1.01%-0.09%-0.23%0.09%0.09%
FCF per Share0.850.860.981.000.971.901.711.341.471.61
FCF Conversion (FCF/Net Income)1.38x1.86x1.36x1.89x0.89x2.51x1.20x0.89x1.78x3.92x
Interest Paid1.66M7.45M9.84M21.5M18.61M13.58M11.03M8.37M14.5M18.95M
Taxes Paid44.9M42.9M35.08M36.81M41.99M20.95M30.34M88.43M65.25M74.36M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)12.1%8.45%12.35%8.56%18.01%9.51%16.63%15.56%8.33%3.68%
Return on Invested Capital (ROIC)12.16%8.47%8.15%6.57%7.29%10.29%12.2%10.95%6.77%3.38%
Gross Margin67.46%66.53%67.21%66.31%65.41%67.97%68.42%67.72%66.41%64.8%
Net Margin20.94%13.73%19.49%13.46%31.04%15.08%24.61%25.1%14.5%6.02%
Debt / Equity0.15x0.37x0.31x0.43x0.31x0.27x0.19x0.23x0.20x0.23x
Interest Coverage86.15x16.54x13.37x5.79x8.20x17.01x26.23x26.66x13.13x12.02x
FCF Conversion1.38x1.86x1.36x1.89x0.89x2.51x1.20x0.89x1.78x3.92x
Revenue Growth10.34%12.82%14.21%11.04%3.46%26.04%18.75%2.81%1.97%5.23%

Revenue by Segment

201220132014202320242025
Consumables---917.73M928.18M972.29M
Consumables Growth----1.14%4.75%
Instruments---112.08M108.27M112.09M
Instruments Growth-----3.40%3.52%
Royalty---21.1M23.34M23.69M
Royalty Growth----10.64%1.49%
Biotechnology293.27M288.16M300.58M---
Biotechnology Growth--1.75%4.31%---
Clinical Controls-22.42M57.19M---
Clinical Controls Growth--155.07%---
Hematology21.29M-----
Hematology Growth------

Revenue by Geography

201220132014202320242025
U S172.31M164.31M190.36M642.47M657.75M683.23M
U S Growth--4.64%15.85%237.50%2.38%3.87%
Europe90.14M88.3M97.16M220.23M241.43M266.31M
Europe Growth--2.05%10.03%126.67%9.63%10.30%
C N11.38M14.11M18.88M113.87M99.47M100.46M
C N Growth-23.98%33.83%503.18%-12.65%1.00%
APAC, excluding China---73.19M73.9M77.26M
APAC, excluding China Growth----0.98%4.55%
UNITED KINGDOM-----54.83M
UNITED KINGDOM Growth------
Rest Of World14.74M15.26M18.66M37.49M36.5M37.55M
Rest Of World Growth-3.49%22.35%100.87%-2.65%2.87%
United Kingdom---49.46M50.01M-
United Kingdom Growth----1.12%-
Other Asia25.99M28.61M32.7M---
Other Asia Growth-10.08%14.32%---

Frequently Asked Questions

Valuation & Price

Bio-Techne Corporation (TECH) has a price-to-earnings (P/E) ratio of 152.1x. This suggests investors expect higher future growth.

Growth & Financials

Bio-Techne Corporation (TECH) reported $1.22B in revenue for fiscal year 2025. This represents a 287% increase from $314.6M in 2012.

Bio-Techne Corporation (TECH) grew revenue by 5.2% over the past year. This is steady growth.

Yes, Bio-Techne Corporation (TECH) is profitable, generating $78.0M in net income for fiscal year 2025 (6.0% net margin).

Dividend & Returns

Yes, Bio-Techne Corporation (TECH) pays a dividend with a yield of 0.45%. This makes it attractive for income-focused investors.

Bio-Techne Corporation (TECH) has a return on equity (ROE) of 3.7%. This is below average, suggesting room for improvement.

Bio-Techne Corporation (TECH) generated $224.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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