BIO-TECHNE Corp TECH
Bio-Techne and its subsidiaries, collectively doing business as Bio-Techne Corporation ("Bio-Techne", "we", "our", "us" or the "Company"), develop, manufacture and sell life science reagents, instruments and services for the research, diagnostics and bioprocessing markets worldwide. Our broad product portfolio and application expertise enables scientific investigations into biological processes and molecular diagnostics, revealing the nature, diagnosis, etiology and progression of specific diseases. Our products aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses.
We manage the business in two operating segments – our Protein Sciences segment and our Diagnostics and Spatial Biology segment. Our Protein Sciences segment is a leading developer and manufacturer of high-quality biological reagents used in all aspects of life science research, diagnostics and cell and gene therapy. This segment also includes proteomic analytical tools, both manual and automated, that offer researchers and pharmaceutical manufacturers efficient and streamlined options for protein analysis, automated western blot, and multiplexed ELISA workflows. Our Diagnostics and Spatial Biology segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for the regulated diagnostics market, advanced tissue-based in-situ hybridization assays and instrumentation for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.22B | $1.22B | $1.16B | $1.14B | $1.11B | $931.0M | $738.7M | $714.0M | $643.0M | $563.0M |
| Cost of revenue | $416.0M | $429.4M | $389.3M | $366.9M | $349.1M | $298.2M | $255.5M | $240.5M | $210.8M | $188.5M |
| Gross profit | $799.1M | $790.3M | $769.7M | $769.8M | $756.5M | $632.9M | $483.2M | $473.5M | $432.1M | $374.5M |
| SG&A | $452.4M | $588.5M | $466.4M | $378.4M | $372.8M | $325.0M | $260.6M | $264.4M | $240.6M | $200.4M |
| Total operating expenses | $547.2M | $688.0M | $563.0M | $470.9M | $459.9M | $395.6M | $325.8M | $326.8M | $296.0M | $254.0M |
| Operating income | $251.9M | $102.3M | $206.7M | $298.9M | $296.6M | $237.3M | $157.4M | $146.7M | $136.2M | $120.6M |
| Interest expense | $9.6M | $8.5M | $15.7M | $11.2M | $11.3M | $14.0M | $19.2M | $21.7M | $10.2M | $7.4M |
| Pre-tax income | $240.7M | $98.5M | $185.7M | $338.7M | $301.4M | $148.2M | $276.5M | $112.0M | $126.0M | $112.0M |
| Income tax | $58.8M | $25.1M | $17.6M | $53.2M | $38.3M | $8.6M | $47.2M | $15.9M | $198.0K | $35.9M |
| Net income | $181.9M | $73.4M | $168.1M | $285.3M | $272.1M | $140.4M | $229.3M | $96.1M | $126.2M | $76.1M |
| EPS, basic | 1.17 | 0.47 | 1.07 | 1.81 | 1.73 | 0.91 | 6.00 | 2.54 | 3.36 | 2.04 |
| EPS, diluted | 1.16 | 0.46 | 1.05 | 1.76 | 1.66 | 0.87 | 5.82 | 2.47 | 3.31 | 2.03 |
| Shares, diluted (wtd. avg.) | $157.0M | $159.7M | $160.8M | $161.9M | $164.1M | $161.9M | $39.4M | $38.9M | $38.1M | $37.5M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $264.7M | $162.2M | $151.8M | $180.6M | $172.6M | $199.1M | $146.6M | $100.9M | $122.0M | $91.6M |
| Short-term investments | — | — | $1.1M | $23.7M | $74.5M | $32.5M | — | — | — | — |
| Receivables | $216.6M | $206.9M | $241.4M | $218.5M | $194.5M | $145.4M | $122.5M | $137.5M | $120.3M | $116.8M |
| Inventory | $195.7M | $189.4M | $179.7M | $171.6M | $141.1M | $116.7M | $103.2M | $91.0M | $85.6M | $60.2M |
| Total current assets | $744.4M | $608.3M | $617.4M | $621.5M | $605.6M | $510.6M | $520.9M | $412.6M | $398.4M | $348.0M |
| Property, plant and equipment | $231.8M | $245.7M | $251.2M | $226.2M | $223.2M | $207.9M | $176.8M | $154.0M | $145.3M | $135.1M |
| Goodwill | $975.4M | $980.9M | $972.7M | $872.7M | $822.1M | $843.1M | $728.3M | $732.7M | $597.9M | $579.0M |
| Other intangibles | $303.5M | $365.6M | $507.1M | $534.6M | $531.5M | $616.0M | $516.5M | $579.4M | $446.3M | $452.0M |
| Total assets | $2.59B | $2.56B | $2.70B | $2.64B | $2.29B | $2.26B | $2.03B | $1.88B | $1.59B | $1.56B |
| Accounts payable | $26.7M | $25.3M | $38.0M | $25.7M | $33.9M | $29.4M | $23.1M | $16.2M | $18.5M | $16.9M |
| Short-term debt | — | — | — | — | $12.5M | $12.5M | $12.5M | $12.5M | — | — |
| Total current liabilities | $163.7M | $175.8M | $159.4M | $128.5M | $176.0M | $152.3M | $106.7M | $102.0M | $79.5M | $135.5M |
| Retained earnings | $1.14B | $1.07B | $1.33B | $1.31B | $1.12B | $1.09B | $1.06B | $931.9M | $876.9M | $799.0M |
| Total equity | $2.11B | $1.92B | $2.07B | $1.97B | $1.70B | $1.57B | $1.38B | $1.17B | $1.08B | $949.6M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $292.1M | $287.6M | $299.0M | $254.4M | $325.3M | $352.2M | $205.2M | $181.6M | $170.4M | $143.7M |
| Depreciation and amortisation | $97.4M | $109.9M | $111.7M | $107.2M | $101.1M | $87.7M | $82.7M | $78.2M | $64.5M | $60.0M |
| Stock-based compensation | $41.4M | $40.8M | $38.0M | $39.2M | $42.2M | $49.0M | $32.4M | $32.3M | $28.2M | $14.6M |
| Capital expenditure | $28.9M | $31.0M | $62.9M | $38.2M | $44.9M | $44.3M | $51.7M | $25.4M | $20.9M | $15.2M |
| Investing cash flow | -$18.2M | -$35.2M | -$203.0M | -$265.6M | -$96.9M | -$243.5M | $27.1M | -$336.8M | -$38.7M | -$306.0M |
| Financing cash flow | -$169.1M | -$253.9M | -$122.4M | $22.6M | -$242.9M | -$62.6M | -$183.8M | $134.4M | -$99.2M | $189.1M |
| Dividends paid | $49.9M | $50.4M | $50.4M | $50.3M | $50.2M | $49.6M | $48.9M | $48.4M | $48.0M | $47.3M |
| Buybacks | $41.7M | $275.7M | $80.0M | $19.6M | $160.9M | $43.2M | $50.1M | $15.4M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-100322.
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