NASDAQ: TECH
Bio-Techne
Health Care · Biological Products, (No Diagnostic Substances)
52-week range
Stock price
Market cap
At each fiscal year end: closing price × shares outstanding.Figures shown are for FY2026, ended Jun 30, 2026. Hover or tap a column for another year.$11.1B
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| Period | Market cap |
|---|---|
| FY2017, ended Jun 30, 2017 | $4.39B |
| FY2018, ended Jun 30, 2018 | $5.58B |
| FY2019, ended Jun 30, 2019 | $7.94B |
| FY2020, ended Jun 30, 2020 | $10.2B |
| FY2021, ended Jun 30, 2021 | $17.6B |
| FY2022, ended Jun 30, 2022 | $13.6B |
| FY2023, ended Jun 30, 2023 | $12.9B |
| FY2024, ended Jun 30, 2024 | $11.4B |
| FY2025, ended Jun 30, 2025 | $8.00B |
| FY2026, ended Jun 30, 2026 | $11.1B |
Revenue
By fiscal year.Figures shown are for FY2026, ended Jun 30, 2026. Hover or tap a column for another year.$1.22B
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| Period | Revenue |
|---|---|
| FY2017, ended Jun 30, 2017 | $563M |
| FY2018, ended Jun 30, 2018 | $643M |
| FY2019, ended Jun 30, 2019 | $714M |
| FY2020, ended Jun 30, 2020 | $739M |
| FY2021, ended Jun 30, 2021 | $931M |
| FY2022, ended Jun 30, 2022 | $1.11B |
| FY2023, ended Jun 30, 2023 | $1.14B |
| FY2024, ended Jun 30, 2024 | $1.16B |
| FY2025, ended Jun 30, 2025 | $1.22B |
| FY2026, ended Jun 30, 2026 | $1.22B |
Net income and free cash flow
By fiscal year. Free cash flow is operating cash flow minus capex.Figures shown are for FY2026, ended Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Jun 30, 2017 | $76.1M | $129M |
| FY2018, ended Jun 30, 2018 | $126M | $149M |
| FY2019, ended Jun 30, 2019 | $96.1M | $156M |
| FY2020, ended Jun 30, 2020 | $229M | $153M |
| FY2021, ended Jun 30, 2021 | $140M | $308M |
| FY2022, ended Jun 30, 2022 | $272M | $280M |
| FY2023, ended Jun 30, 2023 | $285M | $216M |
| FY2024, ended Jun 30, 2024 | $168M | $236M |
| FY2025, ended Jun 30, 2025 | $73.4M | $257M |
| FY2026, ended Jun 30, 2026 | $182M | $263M |
Cash and cash equivalents
At each fiscal year end.Figures shown are for FY2026, ended Jun 30, 2026. Hover or tap a column for another year.$265M
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Jun 30, 2017 | $91.6M |
| FY2018, ended Jun 30, 2018 | $122M |
| FY2019, ended Jun 30, 2019 | $101M |
| FY2020, ended Jun 30, 2020 | $147M |
| FY2021, ended Jun 30, 2021 | $199M |
| FY2022, ended Jun 30, 2022 | $173M |
| FY2023, ended Jun 30, 2023 | $181M |
| FY2024, ended Jun 30, 2024 | $152M |
| FY2025, ended Jun 30, 2025 | $162M |
| FY2026, ended Jun 30, 2026 | $265M |
Total debt
At each fiscal year end. Short- and long-term borrowings, excluding leases.Figures shown are for FY2026, ended Jun 30, 2026. Hover or tap a column for another year.$200M
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| Period | Total debt |
|---|---|
| FY2017, ended Jun 30, 2017 | $344M |
| FY2018, ended Jun 30, 2018 | $339M |
| FY2019, ended Jun 30, 2019 | $505M |
| FY2020, ended Jun 30, 2020 | $357M |
| FY2021, ended Jun 30, 2021 | $341M |
| FY2022, ended Jun 30, 2022 | $256M |
| FY2023, ended Jun 30, 2023 | $350M |
| FY2024, ended Jun 30, 2024 | $319M |
| FY2025, ended Jun 30, 2025 | $346M |
| FY2026, ended Jun 30, 2026 | $200M |
Shares outstanding
At each fiscal year end, adjusted for splits. Up 4.9% since 2017.Figures shown are for FY2026, ended Jun 30, 2026. Hover or tap a column for another year.157M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Jun 30, 2017 | 150M |
| FY2018, ended Jun 30, 2018 | 151M |
| FY2019, ended Jun 30, 2019 | 152M |
| FY2020, ended Jun 30, 2020 | 154M |
| FY2021, ended Jun 30, 2021 | 156M |
| FY2022, ended Jun 30, 2022 | 157M |
| FY2023, ended Jun 30, 2023 | 158M |
| FY2024, ended Jun 30, 2024 | 159M |
| FY2025, ended Jun 30, 2025 | 156M |
| FY2026, ended Jun 30, 2026 | 157M |
Buybacks and new shares
By fiscal year, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for FY2026, ended Jun 30, 2026. Hover or tap a column for another year.Net: $310K more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2017, ended Jun 30, 2017 | — | $14.6M |
| FY2018, ended Jun 30, 2018 | $0 | $28.2M |
| FY2019, ended Jun 30, 2019 | $15.4M | $32.3M |
| FY2020, ended Jun 30, 2020 | $50.1M | $32.4M |
| FY2021, ended Jun 30, 2021 | $43.2M | $49.0M |
| FY2022, ended Jun 30, 2022 | $161M | $42.2M |
| FY2023, ended Jun 30, 2023 | $19.6M | $39.2M |
| FY2024, ended Jun 30, 2024 | $80.0M | $38.0M |
| FY2025, ended Jun 30, 2025 | $276M | $40.8M |
| FY2026, ended Jun 30, 2026 | $41.7M | $41.4M |
Revenue (TTM)
$1.22B
−0.4% YoY
Net income (TTM)
$182M
+148% YoY
Cash
$265M
+63.2% YoY
Total debt
$200M
−42.2% YoY
Valuation
At current price- Market Cap
- $11.4B
- P/E
- 62.7×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 9.4×
- Price / Book
- 5.4×
- EV / EBITDA
- 32.4×
Growth
Trailing 12 months- Revenue (TTM)
- $1.22B
- Revenue Growth YoY
- −0.4%
- Revenue CAGR 3Y
- 2.2%
- Revenue CAGR 5Y
- 5.5%
- EPS Growth YoY
- 152%
- Net Income Growth YoY
- 148%
Profitability
Trailing 12 months- Gross Margin
- 65.8%
- Operating Margin
- 20.7%
- Net Margin
- 15.0%
- FCF Margin
- 21.7%
- Return on Equity
- 9.0%
Earnings
Trailing 12 months- Net Income
- $182M
- EPS (diluted)
- $1.16
- EBITDA
- $349M
- Operating Income
- $252M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $265M
- Total Debt
- $200M
- Net Cash
- $64.7M
- Total Assets
- $2.59B
- Total Liabilities
- $479M
- Shareholders' Equity
- $2.11B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $292M
- Capital Expenditure
- $28.9M
- Free Cash Flow
- $263M
Dividends and risk
Last 12 months- Dividend Yield
- 0.4%
- Dividend / Share
- $0.32
- Beta (5Y)
- 1.30
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $1.22B.
Strength
Operating margin widened 12.3 pts in a year, to 20.7%.
Strength
Holds more cash than debt, with $64.7M in net cash.
Strength
Turns 21.7% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Jun 30, 2026 · filed Aug 24, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K39Serious concerns
10-K for the fiscal year ended Jun 30, 2025
Filed Aug 22, 2025 · Read the filing on EDGAR
- Sales rose 5% to $1.2 billion on 5% organic growth, an improvement from 1% organic growth last year, led by Protein Sciences.
- Reported net earnings fell 56%, driven by an arbitration loss, impairment of assets held for sale and restructuring; adjusted earnings rose 8%.
- Bio-Techne agreed to sell Exosome Diagnostics for just $15 million, after an $83.1 million impairment tied to a diagnostics business being divested.
- New US tariffs since April 2025 are raising import and market-serving costs, and could reduce demand or margins.
Business momentum
Sharp deterioration
“Consolidated net earnings for fiscal 2025 decreased 56% compared to fiscal 2024.”
Outlook
Neutral
“We expect that, in the future, gross margins will continue to be impacted by the mix of our portfolio growing at different rates as well as future acquisitions.”
Financial stress
Low
“At June 30, 2025, we had $346.0 million in borrowings under the revolving credit facility, resulting in $654.0 million of unutilized availability under our revolving credit facility.”
Tone against the previous report
About the same
Red flags
- Medium
Large write-down
“The impairment test resulted in a total impairment charge of $83.1 million, which includes the allocated goodwill, which we have further described within Note 14.”
- Medium
Major lawsuit
“The decrease in earnings was impacted by a non-recurring loss on an arbitration award, impairment of assets held-for-sale, and restructuring and restructuring-related charges.”
Positives
Sales growth picked up to 5%
“For fiscal 2025, consolidated net sales increased 5% to $1.2 billion as compared to fiscal 2024.”
Largest segment returned to growth
“Segment revenue was driven by strong proteomic analytical solutions and cell therapy performance and commercial execution.”
Solid cash generation from operations
“The Company generated cash from operations of $287.6 million, $299.0 million, and $254.4 million in fiscal 2025, 2024, and 2023, respectively.”
Concerns
Gross margins fell for a second straight year
“Consolidated gross margins were 64.8%, 66.4%, and 67.7% in fiscal 2025, 2024, and 2023.”
About $1 billion Wilson Wolf payment is approaching
“The second option payment of approximately $1 billion plus potential contingent consideration is forecasted to occur between fiscal 2026 and fiscal 2028.”
Exosome Diagnostics sold for a low price
“On August 5, 2025, the Company announced the execution of a definitive agreement to sell the Exosome Diagnostics business for $15 million including $5 million of stock of the acquiring company at closing with the remainder received over the following four years.”
New risks since the previous report
New US tariffs and retaliation raise costs
“Collectively, these tariffs have increased and will continue to increase the cost to us of supplies and components we import, as well as our cost to serve certain markets”
Biggest risks named
- US tariffs, trade tensions and international conflict
- Integrating acquisitions and funding the Wilson Wolf purchase
- Weak customer research spending and government funding
- Heavy regulation, including EU diagnostic rules, lab-test oversight and reimbursement
- Competition, customer consolidation and pricing pressure
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −15 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −5.4 | |
| New risks | −0.5 | |
| Score | 39 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Aug 24, 2026 | Pro | |||
| 10-K | Aug 22, 2025 | 39 | Sharp deterioration | 2 medium | |
| 10-K | Aug 22, 2024 | 40 | Sharp deterioration | 2 minor | |
| 10-K | Aug 23, 2023 | 66 | Improving | None | |
| 10-K | Aug 24, 2022 | 72 | Strong improvement | 1 minor | |
| 10-K | Aug 25, 2021 | 75 | Strong improvement | None | |
| 10-K | Aug 26, 2020 | 63 | Improving | None | |
| 10-K | Aug 28, 2019 | 55 | Mixed | None | |
| 10-K | Aug 27, 2018 | 71 | Strong improvement | 1 minor | |
| 10-K | Sep 7, 2017 | 41 | Mixed | 1 serious |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-K for FY2026 (period ended Jun 30, 2026), filed Aug 24, 2026. View filings on SEC EDGAR