Bio-Rad Laboratories (BIO)
NYSE:BIO
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Bio-Rad Laboratories
(NYSE:BIO)
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Rating:64Neutral
Price Target:
$291.00
▲(3.50% Upside)
Action:ReiteratedDate:02/21/26
The score is anchored by solid fundamentals—conservative leverage and consistently positive free cash flow—tempered by volatile reported earnings. Technicals are a meaningful headwind with clear downside momentum. Valuation is a support (low P/E), while the latest call adds moderate confidence via steady 2026 margin/FCF outlook but highlights near-term execution and segment headwinds.
Positive Factors
Balance sheet strength
Conservative leverage and a sizable equity cushion provide long-term financial flexibility to fund R&D, absorb cyclical downturns, and support strategic moves (buybacks/M&A). A strong balance sheet reduces refinancing risk and underpins durable operational resilience over multiple cycles.
Negative Factors
Earnings volatility
Large swings in GAAP profitability reduce confidence in recurring earnings power and complicate forecasting. Volatile reported results, partly from valuation changes and impairments, suggest profit variability that can persist across reporting periods and hinder reliable margin planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Conservative leverage and a sizable equity cushion provide long-term financial flexibility to fund R&D, absorb cyclical downturns, and support strategic moves (buybacks/M&A). A strong balance sheet reduces refinancing risk and underpins durable operational resilience over multiple cycles.
Read all positive factors
Bio-Rad Laboratories (BIO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.59B
Dividend YieldN/A
Average Volume (3M)292.86K
Price to Earnings (P/E)2.8
Beta (1Y)0.73
Revenue Growth-0.88%
EPS Growth10.93%
CountryUS
Employees7,700
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)2.51
Shares Outstanding21,924,284
10 Day Avg. Volume306,179
30 Day Avg. Volume292,857
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)1.11
Price to Sales (P/S)3.20
P/FCF Ratio22.05
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue3.32
Enterprise Value/Gross Profit6.41
Enterprise Value/Ebitda10.16
Forecast
1Y Price Target
$318.33Price Target Upside13.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)10.25
Revenue Forecast (FY)$2.63B
Bio-Rad Laboratories Business Overview & Revenue Model
Company Description
Bio-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 segme...
How the Company Makes Money
Bio-Rad makes money primarily through the sale of its products and services in the life science and clinical diagnostics markets. The company generates revenue through multiple streams, including the sale of laboratory instruments, reagents, consu...
Bio-Rad Laboratories Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyBio-Rad Laboratories Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Neutral
The call presented a mix of encouraging progress in strategic growth areas (diagnostics rebound, ddPCR/QX700 momentum, earlier-than-expected accretion from the Stilla acquisition, robust free cash flow and a strong balance sheet) alongside material execution and margin challenges (Q4 gross margin pressure, one-time write-offs, GAAP impairment charges, Life Science softness and near-term process chromatography headwinds). Management provided conservative but constructive 2026 guidance and detailed operational actions to address supply chain and cost issues. Overall, positives around cash generation, product momentum and disciplined M&A/capital allocation are balanced by near-term profitability and execution risks.Positive Updates
Revenue Growth in Q4 and Full Year Stability
Q4 2025 net sales were $693 million, up 3.9% reported and 1.7% currency-neutral versus Q4 2024. Full year 2025 net sales were $2.583 billion, up 0.7% reported and essentially flat on a currency-neutral basis versus 2024.
Negative Updates
Gross Margin Pressure and Execution-Related Supply Chain Costs
Q4 2025 GAAP gross margin was 49.8% versus 51.2% in Q4 2024; Q4 non-GAAP gross margin was 52.5% versus 53.9% a year ago. Full year 2025 non-GAAP gross margin declined to 53.3% from 55.0% in 2024. Q4 was pressured by higher-than-anticipated expedited freight, overtime and supply chain costs related to compressed delivery timelines (90 days of work in 30 days due to U.S. government shutdown) and slower procurement savings.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth in Q4 and Full Year Stability
Q4 2025 net sales were $693 million, up 3.9% reported and 1.7% currency-neutral versus Q4 2024. Full year 2025 net sales were $2.583 billion, up 0.7% reported and essentially flat on a currency-neutral basis versus 2024.
Read all positive updates
Company Guidance
Bio‑Rad guided 2026 to full‑year currency‑neutral revenue growth of 0.5%–1.5% (Q1 down low‑single‑digit y/y with sequential improvement), Life Science +0%–0.5% (core Life Science ex‑process chromatography ≈ +4%, ddPCR mid‑single‑digit), process chromatography down ≈ mid‑teens in 2026 but expected to be mid‑single‑digit long term, and Diagnostics +1%–2% (quality controls mid‑single‑digit; Diagnostics ex‑QC low‑single‑digit). They forecast full‑year non‑GAAP gross margin 54%–54.5% (Q1 gross margin up ~100 bps vs Q4‑2025), non‑GAAP operating margin 12%–12.5% (including ~50 bp headwind from reduced process chromatography sales), a non‑GAAP tax rate ≈23%, free cash flow ~$375M–$395M, ~$285M available for buybacks, and that 2025 restructuring savings are reflected in the outlook.Bio-Rad Laboratories Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
79
Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.58B | 2.57B | 2.67B | 2.80B | 2.92B |
| Gross Profit | 1.34B | 1.38B | 1.43B | 1.57B | 1.64B |
| EBITDA | 475.90M | -2.14B | -654.80M | -4.49B | 5.59B |
| Net Income | 759.90M | -1.84B | -637.32M | -3.63B | 4.25B |
Balance Sheet | |||||
| Total Assets | 10.58B | 9.36B | 12.30B | 13.50B | 17.80B |
| Cash, Cash Equivalents and Short-Term Investments | 1.54B | 1.66B | 1.61B | 1.79B | 869.92M |
| Total Debt | 1.53B | 1.37B | 1.41B | 1.39B | 223.38M |
| Total Liabilities | 3.12B | 2.79B | 3.56B | 3.89B | 4.11B |
| Stockholders Equity | 7.45B | 6.57B | 8.74B | 9.62B | 13.69B |
Cash Flow | |||||
| Free Cash Flow | 374.60M | 266.20M | 218.26M | 80.29M | 535.72M |
| Operating Cash Flow | 532.20M | 455.20M | 374.94M | 194.45M | 669.46M |
| Investing Cash Flow | -189.70M | -160.20M | 20.21M | -1.21B | -797.38M |
| Financing Cash Flow | -283.20M | -218.80M | -425.65M | 973.58M | -55.43M |
Bio-Rad Laboratories Technical Analysis
Positive
281.15
Price Trends
278.39
Positive
295.52
Negative
288.97
Negative
Market Momentum
0.65
Negative
56.38
Neutral
71.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIO, the sentiment is Positive. The current price of 281.15 is above the 20-day moving average (MA) of 271.04, above the 50-day MA of 278.39, and below the 200-day MA of 288.97, indicating a neutral trend. The MACD of 0.65 indicates Negative momentum. The RSI at 56.38 is Neutral, neither overbought nor oversold. The STOCH value of 71.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BIO.
Bio-Rad Laboratories Risk Analysis
Bio-Rad Laboratories disclosed 28 risk factors in its most recent earnings report. Bio-Rad Laboratories reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bio-Rad Laboratories Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $25.32B | 30.97 | 32.44% | ― | 14.21% | 5.66% | |
75 Outperform | $47.46B | 46.44 | 10.39% | ― | 0.19% | 65.58% | |
68 Neutral | $92.98B | 48.91 | 12.53% | ― | 21.62% | 54.80% | |
67 Neutral | $110.95B | 28.29 | 9.54% | 2.76% | 5.34% | 13.15% | |
64 Neutral | $7.59B | 2.84 | 10.86% | ― | -0.88% | 10.93% | |
64 Neutral | $26.53B | 24.78 | 8.21% | 3.30% | -0.76% | -55.03% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BIO
Bio-Rad Laboratories
281.15
31.98
12.83%
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Bio-Rad Laboratories Corporate Events
Business Operations and StrategyFinancial Disclosures
Bio-Rad Updates Investors on Sartorius Strategic Investment Metrics
Positive
Feb 19, 2026
Bio-Rad Laboratories provided an update on February 16, 2026, regarding its investment in Sartorius AG by disclosing selected 2025 financial metrics reported by Sartorius. For the year ended December 31, 2025, Sartorius posted €3.54 billion ...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresM&A Transactions
Bio-Rad Laboratories Posts Mixed Q4 2025 Financial Results
Negative
Feb 12, 2026
Bio-Rad Laboratories reported financial results on February 12, 2026 for the fourth quarter and full year ended December 31, 2025, posting modest revenue growth amid a difficult macro backdrop of geopolitical uncertainty and constrained academic a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.