Bio-Rad Laboratories, Inc. (BIO) 10-Year Financial Performance & Capital Metrics

BIO • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentPoint-of-Care Diagnostics

AboutBio-Rad Laboratories, Inc. manufactures, and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. The company operates through Life Science and Clinical Diagnostics segments. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes. It focuses on selected segments of the life sciences market in proteomics, genomics, biopharmaceutical production, cellular biology, and food safety. This segment serves universities and medical schools, industrial research organizations, government agencies, pharmaceutical manufacturers, biotechnology researchers, food producers, and food testing laboratories. The Clinical Diagnostics segment designs, manufactures, sells, and supports test systems, informatics systems, test kits, and specialized quality controls for clinical laboratories in the diagnostics market. This segment offers reagents, instruments, and software, which address specific niches within the in vitro diagnostics test market. It sells its products to reference laboratories, hospital laboratories, state newborn screening facilities, physicians' office laboratories, and transfusion laboratories. In addition, the company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components. The company offers its products through its direct sales force, as well as through distributors, agents, brokers, and resellers. Bio-Rad Laboratories, Inc. was founded in 1952 and is headquartered in Hercules, California.Show more

Revenue $2.57B -3.9%
EBITDA $421M -13.0%
Net Income -$1.84B -189.4%
EPS (Diluted) -65.36 -199.5%
Gross Margin 53.73% +0.6%
EBITDA Margin 16.39% -9.5%
Operating Margin 10.48% -17.1%
Net Margin -71.86% -201.2%
ROE -24.09% -246.9%
ROIC 2.35% -6.0%
Debt/Equity 0.21 +30.1%
Interest Coverage 5.50 -19.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 3.4% through buybacks
✓Healthy 5Y average net margin of 14.0%
✓Trading at only 1.4x book value

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.67%

5Y2.11%

3Y-4.24%

TTM-0.88%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM13.2%

EPS CAGR

10Y-

5Y-

3Y-

TTM11.05%

ROCE

10Y Avg2.79%

5Y Avg3.26%

3Y Avg2.85%

Latest2.6%

Peer Comparison

Point-of-Care Diagnostics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
PAVMPAVmed Inc.	8.06M	8.75	17.64	22.15%	-217914.55%	-245.07%
SMLRSemler Scientific, Inc.	310.75M	20.33	3.96	-17.44%	130.8%	10.51%	0.00
BJDXBluejay Diagnostics, Inc.	1.18M	0.65	-0.02			-185.51%	0.04
HSCSHeartSciences Inc.	10.17M	3.20	-0.34	-76.61%	-1042.38%	-216.05%	14.55
LUCDLucid Diagnostics Inc.	163.87M	1.25	-1.19	79%	-8.6%	-404.1%	3.94
BMRABiomerica, Inc.	8.09M	2.68	-1.24	-1.92%	-90.29%	-90.76%	0.11
MDAISpectral AI, Inc.	49.41M	1.61	-1.89	63.83%	-70.64%
CODXCo-Diagnostics, Inc.	6.12M	2.92	-2.35	-42.53%	-63.36%	-80.8%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.02B	2.07B	2.16B	2.29B	2.31B	2.55B	2.92B	2.8B	2.67B	2.57B
Revenue Growth %	-0.07%	0.02%	0.04%	0.06%	0.01%	0.1%	0.15%	-0.04%	-0.05%	-0.04%
Cost of Goods Sold+	897.77M	930.09M	972.75M	1.07B	1.05B	1.11B	1.28B	1.23B	1.24B	1.19B
COGS % of Revenue	0.44%	0.45%	0.45%	0.47%	0.46%	0.44%	0.44%	0.44%	0.47%	0.46%
Gross Profit+	1.12B	1.14B	1.19B	1.22B	1.26B	1.44B	1.64B	1.57B	1.43B	1.38B
Gross Margin %	0.56%	0.55%	0.55%	0.53%	0.54%	0.56%	0.56%	0.56%	0.53%	0.54%
Gross Profit Growth %	-0.05%	0.01%	0.04%	0.03%	0.03%	0.14%	0.14%	-0.04%	-0.09%	-0.03%
Operating Expenses+	954.96M	1.02B	1.06B	1.03B	1.03B	1.02B	1.14B	1.08B	1.09B	1.11B
OpEx % of Revenue	0.47%	0.49%	0.49%	0.45%	0.44%	0.4%	0.39%	0.39%	0.41%	0.43%
Selling, General & Admin	761.99M	816.72M	808.94M	833.29M	824.63M	798.8M	877.12M	827.83M	841.7M	814M
SG&A % of Revenue	0.38%	0.39%	0.37%	0.36%	0.36%	0.31%	0.3%	0.3%	0.32%	0.32%
Research & Development	192.97M	205.86M	250.3M	199.2M	202.71M	217.76M	260.64M	256.89M	247.43M	295.9M
R&D % of Revenue	0.1%	0.1%	0.12%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.12%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	166.71M	53.19M	116.65M	-108.64M	229.66M	421.33M	500.34M	482.62M	337.8M	269M
Operating Margin %	0.08%	0.03%	0.05%	-0.05%	0.1%	0.17%	0.17%	0.17%	0.13%	0.1%
Operating Income Growth %	0.11%	-0.68%	1.19%	-1.93%	3.11%	0.83%	0.19%	-0.04%	-0.3%	-0.2%
EBITDA+	298.56M	196.09M	265.35M	29.46M	404.16M	559.93M	637.94M	659.82M	483.7M	420.6M
EBITDA Margin %	0.15%	0.09%	0.12%	0.01%	0.17%	0.22%	0.22%	0.24%	0.18%	0.16%
EBITDA Growth %	-0%	-0.34%	0.35%	-0.89%	12.72%	0.39%	0.14%	0.03%	-0.27%	-0.13%
D&A (Non-Cash Add-back)	131.85M	142.9M	148.7M	138.1M	174.5M	138.6M	137.6M	177.2M	145.9M	151.6M
EBIT	167.54M	64.94M	120.82M	536.62M	2.28B	4.94B	5.45B	-4.67B	-800.66M	-2.29B
Net Interest Income+	-11.59M	-8.68M	-3.91M	2.64M	7.08M	-3.66M	17.35M	19.89M	51.46M	33.1M
Interest Income	10.1M	14.7M	19.1M	26.6M	30.5M	18.2M	18.9M	58M	100.9M	82M
Interest Expense	21.69M	23.38M	23.01M	23.96M	23.42M	21.86M	1.55M	38.11M	49.44M	48.9M
Other Income/Expense	-20.86M	-73.94M	-15.35M	319.39M	2.03B	4.5B	4.95B	-5.19B	-1.19B	-2.61B
Pretax Income+	145.85M	41.56M	97.81M	507.36M	2.26B	4.92B	5.45B	-4.7B	-850.1M	-2.34B
Pretax Margin %	0.07%	0.02%	0.05%	0.22%	0.98%	1.93%	1.86%	-1.68%	-0.32%	-0.91%
Income Tax+	32.75M	13.44M	-16.93M	146.36M	502.41M	1.1B	1.19B	-1.08B	-212.78M	-498.3M
Effective Tax Rate %	0.78%	0.68%	1.17%	0.71%	0.78%	0.78%	0.78%	0.77%	0.75%	0.79%
Net Income+	113.09M	28.13M	114.74M	361M	1.76B	3.81B	4.25B	-3.63B	-637.32M	-1.84B
Net Margin %	0.06%	0.01%	0.05%	0.16%	0.76%	1.5%	1.46%	-1.29%	-0.24%	-0.72%
Net Income Growth %	0.27%	-0.75%	3.08%	2.15%	3.87%	1.17%	0.12%	-1.85%	0.82%	-1.89%
Net Income (Continuing)	113.09M	26M	122.25M	365.61M	1.76B	3.81B	4.25B	-3.63B	-637.32M	-1.84B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	3.71	0.88	4.07	11.94	58.27	126.20	140.83	-121.79	-21.82	-65.36
EPS Growth %	0.22%	-0.76%	3.63%	1.93%	3.88%	1.17%	0.12%	-1.86%	0.82%	-2%
EPS (Basic)	3.74	0.88	4.12	12.10	58.93	127.86	142.61	-121.79	-21.82	-65.36
Diluted Shares Outstanding	29.41M	29.65M	30.03M	30.23M	30.18M	30.16M	30.21M	29.79M	29.21M	28.21M
Basic Shares Outstanding	29.19M	29.44M	29.66M	29.84M	29.84M	29.77M	29.83M	29.79M	29.21M	28.21M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.78B	1.84B	1.98B	2.02B	2.18B	2.14B	1.99B	3.16B	3.05B	3.03B
Cash & Short-Term Investments	786.27M	839.44M	754.98M	844.8M	1.11B	991.12M	869.92M	1.79B	1.61B	1.66B
Cash Only	457.55M	456.26M	383.82M	431.53M	660.67M	662.21M	470.78M	434.21M	403.8M	488.1M
Short-Term Investments	328.72M	383.18M	371.15M	413.27M	453.97M	328.91M	399.13M	1.36B	1.2B	1.18B
Accounts Receivable	391.49M	372.35M	464.85M	392.44M	392.67M	419.42M	423.54M	494.64M	489M	452.5M
Days Sales Outstanding	70.76	65.71	78.55	62.55	62	60.14	52.9	64.43	66.82	64.35
Inventory	490.22M	524.96M	594.8M	583.82M	554.01M	622.25M	572.24M	719.32M	780.5M	760M
Days Inventory Outstanding	199.31	206.01	223.18	199.95	191.73	205.03	162.61	212.61	228.95	233.58
Other Current Assets	15.25M	16.76M	15.88M	15.18M	16.5M	16.42M	15.65M	29.16M	31.7M	30.7M
Total Non-Current Assets+	1.93B	2.01B	2.3B	3.59B	5.83B	10.83B	15.81B	10.34B	9.25B	6.33B
Property, Plant & Equipment	437.69M	488.61M	493.5M	508.69M	701.21M	693.51M	716.44M	679.55M	723.7M	688.6M
Fixed Asset Turnover	4.61x	4.23x	4.38x	4.50x	3.30x	3.67x	4.08x	4.12x	3.69x	3.73x
Goodwill	495.9M	477.1M	506.1M	219.8M	264.1M	291.9M	347.3M	406.5M	413.6M	410.5M
Intangible Assets	214M	161.6M	174.1M	133.1M	145.5M	199.5M	253.9M	332.1M	320.5M	293.6M
Long-Term Investments	719.84M	830.79M	1.03B	2.66B	4.64B	9.56B	14.39B	8.83B	7.7B	4.84B
Other Non-Current Assets	64.62M	47.85M	94.95M	70.3M	79.64M	86.72M	104.19M	94.6M	94.9M	101.9M
Total Assets+	3.71B	3.85B	4.27B	5.61B	8.01B	12.97B	17.8B	13.5B	12.3B	9.36B
Asset Turnover	0.54x	0.54x	0.51x	0.41x	0.29x	0.20x	0.16x	0.21x	0.22x	0.27x
Asset Growth %	0.11%	0.04%	0.11%	0.31%	0.43%	0.62%	0.37%	-0.24%	-0.09%	-0.24%
Total Current Liabilities+	441.35M	471.32M	502.7M	450.8M	905.5M	631.54M	680.94M	568.71M	522.8M	467.8M
Accounts Payable	122.39M	133.11M	135.18M	122.45M	107.01M	139.45M	141.94M	135.04M	144.6M	122.3M
Days Payables Outstanding	49.76	52.24	50.72	41.94	37.04	45.95	40.34	39.91	42.42	37.59
Short-Term Debt	298K	334K	420K	493K	425.7M	1.3M	489K	465K	500K	1.2M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Other Current Liabilities	101.78M	115.39M	127.29M	101.22M	86.81M	131.1M	127.94M	117.44M	161.6M	147.2M
Current Ratio	4.03x	3.91x	3.93x	4.49x	2.41x	3.39x	2.92x	5.55x	5.83x	6.48x
Quick Ratio	2.92x	2.80x	2.75x	3.19x	1.80x	2.40x	2.08x	4.29x	4.34x	4.85x
Cash Conversion Cycle	220.31	219.49	251.01	220.56	216.7	219.22	175.17	237.12	253.35	260.35
Total Non-Current Liabilities+	777.86M	800.02M	840.07M	1.14B	1.35B	2.46B	3.43B	3.32B	3.04B	2.33B
Long-Term Debt	433.88M	434.19M	434.58M	438.94M	2.4M	1.3M	10.51M	1.2B	1.2B	1.2B
Capital Lease Obligations	0	0	0	0	187.22M	186.13M	175.94M	153.6M	165.5M	131.4M
Deferred Tax Liabilities	233.47M	225.3M	222.21M	553.24M	997.79M	2.08B	3.06B	1.77B	1.48B	818M
Other Non-Current Liabilities	110.51M	140.54M	183.28M	147.77M	160.9M	196.93M	182.19M	195.93M	195M	177.2M
Total Liabilities	1.22B	1.27B	1.34B	1.59B	2.25B	3.09B	4.11B	3.89B	3.56B	2.79B
Total Debt+	434.18M	434.52M	435M	439.43M	651.18M	225.74M	223.38M	1.39B	1.41B	1.37B
Net Debt	-23.37M	-21.74M	51.18M	7.9M	-9.49M	-436.47M	-247.41M	953.88M	1B	886.6M
Debt / Equity	0.17x	0.17x	0.15x	0.11x	0.11x	0.02x	0.02x	0.14x	0.16x	0.21x
Debt / EBITDA	1.45x	2.22x	1.64x	14.92x	1.61x	0.40x	0.35x	2.10x	2.91x	3.27x
Net Debt / EBITDA	-0.08x	-0.11x	0.19x	0.27x	-0.02x	-0.78x	-0.39x	1.45x	2.07x	2.11x
Interest Coverage	7.69x	2.28x	5.07x	-4.53x	9.81x	19.27x	322.59x	12.66x	6.83x	5.50x
Total Equity+	2.49B	2.58B	2.93B	4.02B	5.76B	9.88B	13.69B	9.62B	8.74B	6.57B
Equity Growth %	0.14%	0.04%	0.14%	0.37%	0.43%	0.72%	0.39%	-0.3%	-0.09%	-0.25%
Book Value per Share	84.69	87.00	97.56	133.00	190.67	327.58	453.03	322.82	299.26	232.84
Total Shareholders' Equity	2.49B	2.58B	2.93B	4.02B	5.76B	9.88B	13.69B	9.62B	8.74B	6.57B
Common Stock	3K	3K	3K	3K	3K	3K	3K	3K	0	0
Retained Earnings	1.81B	1.83B	1.83B	3.72B	5.47B	9.27B	13.53B	9.9B	9.26B	7.42B
Treasury Stock	-101K	-101K	-217K	-49.13M	-38.4M	-99.91M	-106.29M	-263.59M	-632.5M	-772.1M
Accumulated OCI	382.14M	417.77M	738.79M	-46.96M	-87.35M	282.46M	-175.55M	-466.82M	-336M	-538.2M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	186.21M	216.07M	104.14M	285.49M	457.9M	584.97M	669.46M	194.45M	374.94M	455.2M
Operating CF Margin %	0.09%	0.1%	0.05%	0.12%	0.2%	0.23%	0.23%	0.07%	0.14%	0.18%
Operating CF Growth %	-0.32%	0.16%	-0.52%	1.74%	0.6%	0.28%	0.14%	-0.71%	0.93%	0.21%
Net Income	109.2M	26M	122.2M	365.6M	1.76B	3.81B	4.25B	-3.63B	-637.3M	-1.84B
Depreciation & Amortization	131.8M	142.9M	148.7M	138.1M	134.2M	138.6M	137.6M	137.3M	145.9M	151.6M
Stock-Based Compensation	17M	19.7M	23.4M	27.8M	35.6M	41.6M	51.2M	60.9M	61.3M	62.3M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-5.59M	66.57M	13.54M	-323.01M	-2.03B	-4.5B	-4.92B	5.23B	1.24B	2.71B
Working Capital Changes	-66.2M	-39.1M	-203.7M	77M	555.9M	1.09B	1.14B	-1.61B	-432.8M	-620.8M
Change in Receivables	-39M	12.5M	-64.1M	59.7M	1.6M	-15M	-20.4M	-87.4M	11.4M	16.2M
Change in Inventory	-54.2M	-57.1M	-47.7M	-12.9M	24.2M	-52.1M	46.1M	-158.8M	-46.3M	8.5M
Change in Payables	28.6M	30.1M	7.8M	-45.6M	10.6M	124.7M	69.9M	-94.2M	-51.8M	-40.9M
Cash from Investing+	-166.87M	-213.88M	-175.57M	-186.98M	-208.89M	-69.89M	-797.38M	-1.21B	20.21M	-160.2M
Capital Expenditures	-113.37M	-141.57M	-115.13M	-129.83M	-98.53M	-108.56M	-133.75M	-112.78M	-156.68M	-165.6M
CapEx % of Revenue	0.06%	0.07%	0.05%	0.06%	0.04%	0.04%	0.05%	0.04%	0.06%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.13M	48K	-914K	4.32M	8.95M	3.48M	-453.39M	-1.21M	211K	-23.3M
Cash from Financing+	8.58M	9.02M	341K	-48.68M	-22.76M	-523.04M	-55.43M	973.58M	-425.65M	-218.8M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	627K	9.29M	3.61M	3.19M	5.88M	3.9M	-2.41M	3.54M	3.55M	-14.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	72.84M	74.5M	-10.99M	155.67M	359.37M	476.41M	535.72M	80.29M	218.26M	266.2M
FCF Margin %	0.04%	0.04%	-0.01%	0.07%	0.16%	0.19%	0.18%	0.03%	0.08%	0.1%
FCF Growth %	-0.47%	0.02%	-1.15%	15.16%	1.31%	0.33%	0.12%	-0.85%	1.72%	0.22%
FCF per Share	2.48	2.51	-0.37	5.15	11.91	15.80	17.73	2.70	7.47	9.44
FCF Conversion (FCF/Net Income)	1.65x	7.68x	0.91x	0.79x	0.26x	0.15x	0.16x	-0.05x	-0.59x	-0.25x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.84%	1.11%	4.17%	10.39%	35.98%	48.79%	36.11%	-31.14%	-6.94%	-24.09%
Return on Invested Capital (ROIC)	5.35%	1.59%	3.16%	-2.32%	3.52%	4.16%	3.28%	3.02%	2.49%	2.35%
Gross Margin	55.54%	55.03%	54.97%	53.46%	54.38%	56.48%	56.05%	55.93%	53.42%	53.73%
Net Margin	5.6%	1.36%	5.31%	15.76%	76.08%	149.83%	145.57%	-129.45%	-23.86%	-71.86%
Debt / Equity	0.17x	0.17x	0.15x	0.11x	0.11x	0.02x	0.02x	0.14x	0.16x	0.21x
Interest Coverage	7.69x	2.28x	5.07x	-4.53x	9.81x	19.27x	322.59x	12.66x	6.83x	5.50x
FCF Conversion	1.65x	7.68x	0.91x	0.79x	0.26x	0.15x	0.16x	-0.05x	-0.59x	-0.25x
Revenue Growth	-7.15%	2.41%	4.45%	6.02%	0.94%	10.12%	14.81%	-4.12%	-4.67%	-3.92%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Clinical Diagnostics	1.31B	1.32B	1.36B	1.41B	1.41B	1.31B	1.52B	1.45B	1.49B	1.54B
Clinical Diagnostics Growth	-	0.98%	2.83%	3.75%	0.01%	-7.56%	16.14%	-4.28%	2.64%	3.26%
Life Science	695M	730.7M	785.2M	861.7M	885.9M	1.23B	1.4B	1.35B	1.18B	1.03B
Life Science Growth	-	5.14%	7.46%	9.74%	2.81%	39.05%	13.72%	-3.83%	-12.53%	-12.75%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	735M	770.6M	800.2M	863.6M	899.1M	1B	1.13B	1.16B	1.12B	1.04B
UNITED STATES Growth	-	4.84%	3.84%	7.92%	4.11%	11.76%	12.52%	2.20%	-2.91%	-7.17%
Europe	763.7M	742.2M	758.5M	792M	770.3M	857.7M	946.9M	851.9M	819.8M	834.1M
Europe Growth	-	-2.82%	2.20%	4.42%	-2.74%	11.35%	10.40%	-10.03%	-3.77%	1.74%
Asia Pacific	392.2M	427.1M	461.3M	495.5M	505M	546.5M	688.4M	639.4M	563M	521.6M
Asia Pacific Growth	-	8.90%	8.01%	7.41%	1.92%	8.22%	25.97%	-7.12%	-11.95%	-7.35%
Americas	128.5M	128.3M	140.2M	138.3M	137.3M	136.6M	156.6M	155.4M	166.6M	169.3M
Americas Growth	-	-0.16%	9.28%	-1.36%	-0.72%	-0.51%	14.64%	-0.77%	7.21%	1.62%

Frequently Asked Questions

Growth & Financials

Bio-Rad Laboratories, Inc. (BIO) reported $2.56B in revenue for fiscal year 2024. This represents a 23% increase from $2.07B in 2011.

Bio-Rad Laboratories, Inc. (BIO) saw revenue decline by 3.9% over the past year.

Bio-Rad Laboratories, Inc. (BIO) reported a net loss of $675.9M for fiscal year 2024.

Dividend & Returns

Bio-Rad Laboratories, Inc. (BIO) has a return on equity (ROE) of -24.1%. Negative ROE indicates the company is unprofitable.

Bio-Rad Laboratories, Inc. (BIO) generated $336.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Bio-Rad Laboratories, Inc. (BIO) 10-Year Financial Performance & Capital Metrics

BIO • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentPoint-of-Care Diagnostics

Revenue $2.57B -3.9%
EBITDA $421M -13.0%
Net Income -$1.84B -189.4%
EPS (Diluted) -65.36 -199.5%
Gross Margin 53.73% +0.6%
EBITDA Margin 16.39% -9.5%
Operating Margin 10.48% -17.1%
Net Margin -71.86% -201.2%
ROE -24.09% -246.9%
ROIC 2.35% -6.0%
Debt/Equity 0.21 +30.1%
Interest Coverage 5.50 -19.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 3.4% through buybacks
✓Healthy 5Y average net margin of 14.0%
✓Trading at only 1.4x book value

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.67%

5Y2.11%

3Y-4.24%

TTM-0.88%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM13.2%

EPS CAGR

10Y-

5Y-

3Y-

TTM11.05%

ROCE

10Y Avg2.79%

5Y Avg3.26%

3Y Avg2.85%

Latest2.6%

Peer Comparison

Point-of-Care Diagnostics

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
PAVMPAVmed Inc.	8.06M	8.75	17.64	22.15%	-217914.55%	-245.07%
SMLRSemler Scientific, Inc.	310.75M	20.33	3.96	-17.44%	130.8%	10.51%	0.00
BJDXBluejay Diagnostics, Inc.	1.18M	0.65	-0.02			-185.51%	0.04
HSCSHeartSciences Inc.	10.17M	3.20	-0.34	-76.61%	-1042.38%	-216.05%	14.55
LUCDLucid Diagnostics Inc.	163.87M	1.25	-1.19	79%	-8.6%	-404.1%	3.94
BMRABiomerica, Inc.	8.09M	2.68	-1.24	-1.92%	-90.29%	-90.76%	0.11
MDAISpectral AI, Inc.	49.41M	1.61	-1.89	63.83%	-70.64%
CODXCo-Diagnostics, Inc.	6.12M	2.92	-2.35	-42.53%	-63.36%	-80.8%	0.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.02B	2.07B	2.16B	2.29B	2.31B	2.55B	2.92B	2.8B	2.67B	2.57B
Revenue Growth %	-0.07%	0.02%	0.04%	0.06%	0.01%	0.1%	0.15%	-0.04%	-0.05%	-0.04%
Cost of Goods Sold+	897.77M	930.09M	972.75M	1.07B	1.05B	1.11B	1.28B	1.23B	1.24B	1.19B
COGS % of Revenue	0.44%	0.45%	0.45%	0.47%	0.46%	0.44%	0.44%	0.44%	0.47%	0.46%
Gross Profit+	1.12B	1.14B	1.19B	1.22B	1.26B	1.44B	1.64B	1.57B	1.43B	1.38B
Gross Margin %	0.56%	0.55%	0.55%	0.53%	0.54%	0.56%	0.56%	0.56%	0.53%	0.54%
Gross Profit Growth %	-0.05%	0.01%	0.04%	0.03%	0.03%	0.14%	0.14%	-0.04%	-0.09%	-0.03%
Operating Expenses+	954.96M	1.02B	1.06B	1.03B	1.03B	1.02B	1.14B	1.08B	1.09B	1.11B
OpEx % of Revenue	0.47%	0.49%	0.49%	0.45%	0.44%	0.4%	0.39%	0.39%	0.41%	0.43%
Selling, General & Admin	761.99M	816.72M	808.94M	833.29M	824.63M	798.8M	877.12M	827.83M	841.7M	814M
SG&A % of Revenue	0.38%	0.39%	0.37%	0.36%	0.36%	0.31%	0.3%	0.3%	0.32%	0.32%
Research & Development	192.97M	205.86M	250.3M	199.2M	202.71M	217.76M	260.64M	256.89M	247.43M	295.9M
R&D % of Revenue	0.1%	0.1%	0.12%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.12%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	166.71M	53.19M	116.65M	-108.64M	229.66M	421.33M	500.34M	482.62M	337.8M	269M
Operating Margin %	0.08%	0.03%	0.05%	-0.05%	0.1%	0.17%	0.17%	0.17%	0.13%	0.1%
Operating Income Growth %	0.11%	-0.68%	1.19%	-1.93%	3.11%	0.83%	0.19%	-0.04%	-0.3%	-0.2%
EBITDA+	298.56M	196.09M	265.35M	29.46M	404.16M	559.93M	637.94M	659.82M	483.7M	420.6M
EBITDA Margin %	0.15%	0.09%	0.12%	0.01%	0.17%	0.22%	0.22%	0.24%	0.18%	0.16%
EBITDA Growth %	-0%	-0.34%	0.35%	-0.89%	12.72%	0.39%	0.14%	0.03%	-0.27%	-0.13%
D&A (Non-Cash Add-back)	131.85M	142.9M	148.7M	138.1M	174.5M	138.6M	137.6M	177.2M	145.9M	151.6M
EBIT	167.54M	64.94M	120.82M	536.62M	2.28B	4.94B	5.45B	-4.67B	-800.66M	-2.29B
Net Interest Income+	-11.59M	-8.68M	-3.91M	2.64M	7.08M	-3.66M	17.35M	19.89M	51.46M	33.1M
Interest Income	10.1M	14.7M	19.1M	26.6M	30.5M	18.2M	18.9M	58M	100.9M	82M
Interest Expense	21.69M	23.38M	23.01M	23.96M	23.42M	21.86M	1.55M	38.11M	49.44M	48.9M
Other Income/Expense	-20.86M	-73.94M	-15.35M	319.39M	2.03B	4.5B	4.95B	-5.19B	-1.19B	-2.61B
Pretax Income+	145.85M	41.56M	97.81M	507.36M	2.26B	4.92B	5.45B	-4.7B	-850.1M	-2.34B
Pretax Margin %	0.07%	0.02%	0.05%	0.22%	0.98%	1.93%	1.86%	-1.68%	-0.32%	-0.91%
Income Tax+	32.75M	13.44M	-16.93M	146.36M	502.41M	1.1B	1.19B	-1.08B	-212.78M	-498.3M
Effective Tax Rate %	0.78%	0.68%	1.17%	0.71%	0.78%	0.78%	0.78%	0.77%	0.75%	0.79%
Net Income+	113.09M	28.13M	114.74M	361M	1.76B	3.81B	4.25B	-3.63B	-637.32M	-1.84B
Net Margin %	0.06%	0.01%	0.05%	0.16%	0.76%	1.5%	1.46%	-1.29%	-0.24%	-0.72%
Net Income Growth %	0.27%	-0.75%	3.08%	2.15%	3.87%	1.17%	0.12%	-1.85%	0.82%	-1.89%
Net Income (Continuing)	113.09M	26M	122.25M	365.61M	1.76B	3.81B	4.25B	-3.63B	-637.32M	-1.84B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	3.71	0.88	4.07	11.94	58.27	126.20	140.83	-121.79	-21.82	-65.36
EPS Growth %	0.22%	-0.76%	3.63%	1.93%	3.88%	1.17%	0.12%	-1.86%	0.82%	-2%
EPS (Basic)	3.74	0.88	4.12	12.10	58.93	127.86	142.61	-121.79	-21.82	-65.36
Diluted Shares Outstanding	29.41M	29.65M	30.03M	30.23M	30.18M	30.16M	30.21M	29.79M	29.21M	28.21M
Basic Shares Outstanding	29.19M	29.44M	29.66M	29.84M	29.84M	29.77M	29.83M	29.79M	29.21M	28.21M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.78B	1.84B	1.98B	2.02B	2.18B	2.14B	1.99B	3.16B	3.05B	3.03B
Cash & Short-Term Investments	786.27M	839.44M	754.98M	844.8M	1.11B	991.12M	869.92M	1.79B	1.61B	1.66B
Cash Only	457.55M	456.26M	383.82M	431.53M	660.67M	662.21M	470.78M	434.21M	403.8M	488.1M
Short-Term Investments	328.72M	383.18M	371.15M	413.27M	453.97M	328.91M	399.13M	1.36B	1.2B	1.18B
Accounts Receivable	391.49M	372.35M	464.85M	392.44M	392.67M	419.42M	423.54M	494.64M	489M	452.5M
Days Sales Outstanding	70.76	65.71	78.55	62.55	62	60.14	52.9	64.43	66.82	64.35
Inventory	490.22M	524.96M	594.8M	583.82M	554.01M	622.25M	572.24M	719.32M	780.5M	760M
Days Inventory Outstanding	199.31	206.01	223.18	199.95	191.73	205.03	162.61	212.61	228.95	233.58
Other Current Assets	15.25M	16.76M	15.88M	15.18M	16.5M	16.42M	15.65M	29.16M	31.7M	30.7M
Total Non-Current Assets+	1.93B	2.01B	2.3B	3.59B	5.83B	10.83B	15.81B	10.34B	9.25B	6.33B
Property, Plant & Equipment	437.69M	488.61M	493.5M	508.69M	701.21M	693.51M	716.44M	679.55M	723.7M	688.6M
Fixed Asset Turnover	4.61x	4.23x	4.38x	4.50x	3.30x	3.67x	4.08x	4.12x	3.69x	3.73x
Goodwill	495.9M	477.1M	506.1M	219.8M	264.1M	291.9M	347.3M	406.5M	413.6M	410.5M
Intangible Assets	214M	161.6M	174.1M	133.1M	145.5M	199.5M	253.9M	332.1M	320.5M	293.6M
Long-Term Investments	719.84M	830.79M	1.03B	2.66B	4.64B	9.56B	14.39B	8.83B	7.7B	4.84B
Other Non-Current Assets	64.62M	47.85M	94.95M	70.3M	79.64M	86.72M	104.19M	94.6M	94.9M	101.9M
Total Assets+	3.71B	3.85B	4.27B	5.61B	8.01B	12.97B	17.8B	13.5B	12.3B	9.36B
Asset Turnover	0.54x	0.54x	0.51x	0.41x	0.29x	0.20x	0.16x	0.21x	0.22x	0.27x
Asset Growth %	0.11%	0.04%	0.11%	0.31%	0.43%	0.62%	0.37%	-0.24%	-0.09%	-0.24%
Total Current Liabilities+	441.35M	471.32M	502.7M	450.8M	905.5M	631.54M	680.94M	568.71M	522.8M	467.8M
Accounts Payable	122.39M	133.11M	135.18M	122.45M	107.01M	139.45M	141.94M	135.04M	144.6M	122.3M
Days Payables Outstanding	49.76	52.24	50.72	41.94	37.04	45.95	40.34	39.91	42.42	37.59
Short-Term Debt	298K	334K	420K	493K	425.7M	1.3M	489K	465K	500K	1.2M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Other Current Liabilities	101.78M	115.39M	127.29M	101.22M	86.81M	131.1M	127.94M	117.44M	161.6M	147.2M
Current Ratio	4.03x	3.91x	3.93x	4.49x	2.41x	3.39x	2.92x	5.55x	5.83x	6.48x
Quick Ratio	2.92x	2.80x	2.75x	3.19x	1.80x	2.40x	2.08x	4.29x	4.34x	4.85x
Cash Conversion Cycle	220.31	219.49	251.01	220.56	216.7	219.22	175.17	237.12	253.35	260.35
Total Non-Current Liabilities+	777.86M	800.02M	840.07M	1.14B	1.35B	2.46B	3.43B	3.32B	3.04B	2.33B
Long-Term Debt	433.88M	434.19M	434.58M	438.94M	2.4M	1.3M	10.51M	1.2B	1.2B	1.2B
Capital Lease Obligations	0	0	0	0	187.22M	186.13M	175.94M	153.6M	165.5M	131.4M
Deferred Tax Liabilities	233.47M	225.3M	222.21M	553.24M	997.79M	2.08B	3.06B	1.77B	1.48B	818M
Other Non-Current Liabilities	110.51M	140.54M	183.28M	147.77M	160.9M	196.93M	182.19M	195.93M	195M	177.2M
Total Liabilities	1.22B	1.27B	1.34B	1.59B	2.25B	3.09B	4.11B	3.89B	3.56B	2.79B
Total Debt+	434.18M	434.52M	435M	439.43M	651.18M	225.74M	223.38M	1.39B	1.41B	1.37B
Net Debt	-23.37M	-21.74M	51.18M	7.9M	-9.49M	-436.47M	-247.41M	953.88M	1B	886.6M
Debt / Equity	0.17x	0.17x	0.15x	0.11x	0.11x	0.02x	0.02x	0.14x	0.16x	0.21x
Debt / EBITDA	1.45x	2.22x	1.64x	14.92x	1.61x	0.40x	0.35x	2.10x	2.91x	3.27x
Net Debt / EBITDA	-0.08x	-0.11x	0.19x	0.27x	-0.02x	-0.78x	-0.39x	1.45x	2.07x	2.11x
Interest Coverage	7.69x	2.28x	5.07x	-4.53x	9.81x	19.27x	322.59x	12.66x	6.83x	5.50x
Total Equity+	2.49B	2.58B	2.93B	4.02B	5.76B	9.88B	13.69B	9.62B	8.74B	6.57B
Equity Growth %	0.14%	0.04%	0.14%	0.37%	0.43%	0.72%	0.39%	-0.3%	-0.09%	-0.25%
Book Value per Share	84.69	87.00	97.56	133.00	190.67	327.58	453.03	322.82	299.26	232.84
Total Shareholders' Equity	2.49B	2.58B	2.93B	4.02B	5.76B	9.88B	13.69B	9.62B	8.74B	6.57B
Common Stock	3K	3K	3K	3K	3K	3K	3K	3K	0	0
Retained Earnings	1.81B	1.83B	1.83B	3.72B	5.47B	9.27B	13.53B	9.9B	9.26B	7.42B
Treasury Stock	-101K	-101K	-217K	-49.13M	-38.4M	-99.91M	-106.29M	-263.59M	-632.5M	-772.1M
Accumulated OCI	382.14M	417.77M	738.79M	-46.96M	-87.35M	282.46M	-175.55M	-466.82M	-336M	-538.2M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	186.21M	216.07M	104.14M	285.49M	457.9M	584.97M	669.46M	194.45M	374.94M	455.2M
Operating CF Margin %	0.09%	0.1%	0.05%	0.12%	0.2%	0.23%	0.23%	0.07%	0.14%	0.18%
Operating CF Growth %	-0.32%	0.16%	-0.52%	1.74%	0.6%	0.28%	0.14%	-0.71%	0.93%	0.21%
Net Income	109.2M	26M	122.2M	365.6M	1.76B	3.81B	4.25B	-3.63B	-637.3M	-1.84B
Depreciation & Amortization	131.8M	142.9M	148.7M	138.1M	134.2M	138.6M	137.6M	137.3M	145.9M	151.6M
Stock-Based Compensation	17M	19.7M	23.4M	27.8M	35.6M	41.6M	51.2M	60.9M	61.3M	62.3M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-5.59M	66.57M	13.54M	-323.01M	-2.03B	-4.5B	-4.92B	5.23B	1.24B	2.71B
Working Capital Changes	-66.2M	-39.1M	-203.7M	77M	555.9M	1.09B	1.14B	-1.61B	-432.8M	-620.8M
Change in Receivables	-39M	12.5M	-64.1M	59.7M	1.6M	-15M	-20.4M	-87.4M	11.4M	16.2M
Change in Inventory	-54.2M	-57.1M	-47.7M	-12.9M	24.2M	-52.1M	46.1M	-158.8M	-46.3M	8.5M
Change in Payables	28.6M	30.1M	7.8M	-45.6M	10.6M	124.7M	69.9M	-94.2M	-51.8M	-40.9M
Cash from Investing+	-166.87M	-213.88M	-175.57M	-186.98M	-208.89M	-69.89M	-797.38M	-1.21B	20.21M	-160.2M
Capital Expenditures	-113.37M	-141.57M	-115.13M	-129.83M	-98.53M	-108.56M	-133.75M	-112.78M	-156.68M	-165.6M
CapEx % of Revenue	0.06%	0.07%	0.05%	0.06%	0.04%	0.04%	0.05%	0.04%	0.06%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.13M	48K	-914K	4.32M	8.95M	3.48M	-453.39M	-1.21M	211K	-23.3M
Cash from Financing+	8.58M	9.02M	341K	-48.68M	-22.76M	-523.04M	-55.43M	973.58M	-425.65M	-218.8M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	627K	9.29M	3.61M	3.19M	5.88M	3.9M	-2.41M	3.54M	3.55M	-14.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	72.84M	74.5M	-10.99M	155.67M	359.37M	476.41M	535.72M	80.29M	218.26M	266.2M
FCF Margin %	0.04%	0.04%	-0.01%	0.07%	0.16%	0.19%	0.18%	0.03%	0.08%	0.1%
FCF Growth %	-0.47%	0.02%	-1.15%	15.16%	1.31%	0.33%	0.12%	-0.85%	1.72%	0.22%
FCF per Share	2.48	2.51	-0.37	5.15	11.91	15.80	17.73	2.70	7.47	9.44
FCF Conversion (FCF/Net Income)	1.65x	7.68x	0.91x	0.79x	0.26x	0.15x	0.16x	-0.05x	-0.59x	-0.25x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.84%	1.11%	4.17%	10.39%	35.98%	48.79%	36.11%	-31.14%	-6.94%	-24.09%
Return on Invested Capital (ROIC)	5.35%	1.59%	3.16%	-2.32%	3.52%	4.16%	3.28%	3.02%	2.49%	2.35%
Gross Margin	55.54%	55.03%	54.97%	53.46%	54.38%	56.48%	56.05%	55.93%	53.42%	53.73%
Net Margin	5.6%	1.36%	5.31%	15.76%	76.08%	149.83%	145.57%	-129.45%	-23.86%	-71.86%
Debt / Equity	0.17x	0.17x	0.15x	0.11x	0.11x	0.02x	0.02x	0.14x	0.16x	0.21x
Interest Coverage	7.69x	2.28x	5.07x	-4.53x	9.81x	19.27x	322.59x	12.66x	6.83x	5.50x
FCF Conversion	1.65x	7.68x	0.91x	0.79x	0.26x	0.15x	0.16x	-0.05x	-0.59x	-0.25x
Revenue Growth	-7.15%	2.41%	4.45%	6.02%	0.94%	10.12%	14.81%	-4.12%	-4.67%	-3.92%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Clinical Diagnostics	1.31B	1.32B	1.36B	1.41B	1.41B	1.31B	1.52B	1.45B	1.49B	1.54B
Clinical Diagnostics Growth	-	0.98%	2.83%	3.75%	0.01%	-7.56%	16.14%	-4.28%	2.64%	3.26%
Life Science	695M	730.7M	785.2M	861.7M	885.9M	1.23B	1.4B	1.35B	1.18B	1.03B
Life Science Growth	-	5.14%	7.46%	9.74%	2.81%	39.05%	13.72%	-3.83%	-12.53%	-12.75%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	735M	770.6M	800.2M	863.6M	899.1M	1B	1.13B	1.16B	1.12B	1.04B
UNITED STATES Growth	-	4.84%	3.84%	7.92%	4.11%	11.76%	12.52%	2.20%	-2.91%	-7.17%
Europe	763.7M	742.2M	758.5M	792M	770.3M	857.7M	946.9M	851.9M	819.8M	834.1M
Europe Growth	-	-2.82%	2.20%	4.42%	-2.74%	11.35%	10.40%	-10.03%	-3.77%	1.74%
Asia Pacific	392.2M	427.1M	461.3M	495.5M	505M	546.5M	688.4M	639.4M	563M	521.6M
Asia Pacific Growth	-	8.90%	8.01%	7.41%	1.92%	8.22%	25.97%	-7.12%	-11.95%	-7.35%
Americas	128.5M	128.3M	140.2M	138.3M	137.3M	136.6M	156.6M	155.4M	166.6M	169.3M
Americas Growth	-	-0.16%	9.28%	-1.36%	-0.72%	-0.51%	14.64%	-0.77%	7.21%	1.62%

Frequently Asked Questions

Growth & Financials

Bio-Rad Laboratories, Inc. (BIO) reported $2.56B in revenue for fiscal year 2024. This represents a 23% increase from $2.07B in 2011.

Bio-Rad Laboratories, Inc. (BIO) saw revenue decline by 3.9% over the past year.

Bio-Rad Laboratories, Inc. (BIO) reported a net loss of $675.9M for fiscal year 2024.

Dividend & Returns

Bio-Rad Laboratories, Inc. (BIO) has a return on equity (ROE) of -24.1%. Negative ROE indicates the company is unprofitable.

Bio-Rad Laboratories, Inc. (BIO) generated $336.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.