BIO-TECHNE Corp
$72.80
−0.04 (−0.05%) · delayed · Nov 13, 2026
Five-year price
52w $43.20 to $72.88
- Market cap
- $11.4B
- Enterprise value
- $11.4B
- P/E
- 62.8×
- 81.8× on 3y avg EPS
- EV / EBIT
- 45.1×
- FCF yield
- 2.3%
- ROIC
- 9.3%
- Debt / equity
- 0.09
- Piotroski F
- 8/9
Value scorecard · FY2026
Does it pass the value tests?
Quality
50
- ○ROIC > 12% (5y avg)5y avg ROIC 9.5%
- ○ROE > 15% (5y avg)5y avg ROE 10.2%
- ○Stable operating marginsMargin volatility 6.7% (σ, 5y)
- ●Earnings convert to cashFCF / net income 163% (5y avg)
- ●Growing revenueRevenue CAGR 5y 5.5%
- ●Shrinking share countDiluted shares -3.0% over 5y
Value
0
- ○P/E below 15P/E 62.8
- ○EV/EBIT below 12EV/EBIT 45.1
- ○FCF yield above 6%FCF yield 2.3%
- ○Price below Graham NumberGraham Number $18.72
- ○P/B below 3P/B 5.4
Safety
100
- ●Debt / equity below 0.5D/E 0.09
- ●Debt payable in < 4 yrs of earningsNet debt $-0.1B
- ●Interest coverage > 8xCoverage 26.2x
- ●Current ratio > 1.5Current ratio 4.55
- ●Piotroski F-score ≥ 6F-score 8/9
Graham Defensive
43
- ○Adequate size (revenue > $2B)Revenue $1.2B
- ●Strong condition (current ratio ≥ 2)Current ratio 4.55
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -66%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 81.8
- ○P/E × P/B ≤ 22.5Product 443.7
Valuation lab
What do you have to believe?
At $72.80, the market is pricing in about 15.8% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$65M · 157M shares · 5y revenue CAGR 5.5%
Intrinsic value
$32.31
Price
$72.80
Premium paid
125%
What the price implies
The market is paying for 15.8% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
57% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 563 | 643 | 714 | 739 | 931 | 1,106 | 1,137 | 1,159 | 1,220 | 1,215 |
| Gross profit | 375 | 432 | 473 | 483 | 633 | 756 | 770 | 770 | 790 | 799 |
| Operating income | 121 | 136 | 147 | 157 | 237 | 297 | 299 | 207 | 102 | 252 |
| Operating margin | 21.4% | 21.2% | 20.5% | 21.3% | 25.5% | 26.8% | 26.3% | 17.8% | 8.4% | 20.7% |
| Pre-tax income | 112 | 126 | 112 | 276 | 148 | 301 | 339 | 186 | 98 | 241 |
| Income tax | 36 | (0) | 16 | 47 | 9 | 38 | 53 | 18 | 25 | 59 |
| Net income | 76 | 126 | 96 | 229 | 140 | 272 | 285 | 168 | 73 | 182 |
| EPS (diluted) | 2.03 | 3.31 | 2.47 | 5.82 | 0.87 | 1.66 | 1.76 | 1.05 | 0.46 | 1.16 |
| Diluted shares | 38 | 38 | 39 | 39 | 162 | 164 | 162 | 161 | 160 | 157 |
Who owns it