Bio-Rad Laboratories (BIO) AI Stock Analysis

• Market Cap: $7.26B
• Dividend Yield: N/A
• Average Volume (3M): 266.11K
• Price to Earnings (P/E): 9.7
• Beta (1Y): 0.74
• Revenue Growth: -0.88%
• EPS Growth: 10.93%
• Country: US
• Employees: 7,700
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 2.51
• Shares Outstanding: 21,924,284
• 10 Day Avg. Volume: 351,273
• 30 Day Avg. Volume: 266,113
• PEG Ratio: -0.08
• Price to Book (P/B): 1.11
• Price to Sales (P/S): 3.20
• P/FCF Ratio: 22.05
• Enterprise Value/Market Cap: 1.13
• Enterprise Value/Revenue: 3.19
• Enterprise Value/Gross Profit: 6.15
• Enterprise Value/Ebitda: 9.74
• 1Y Price Target: $343.33
• Price Target Upside: 26.55% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 10.66
• Revenue Forecast (FY): $2.65B

• Rating: 64 Neutral
• Price Target: $291.00 ▲(7.26% Upside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 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.

Consistent cash generation

Reliable operating and free cash flow enables sustained investment in product development, commercialization, and capital returns. Healthy FCF supports buybacks and M&A while insulating the company from temporary revenue volatility and funding constraints in research-driven end markets.

Product momentum & M&A

Momentum in ddPCR and an accelerating QX700 funnel, combined with earlier-than-expected accretion from the Stilla deal, signal structural product/portfolio strengthening. These durable product wins and targeted M&A expand addressable markets and support sustainable revenue mix improvement.

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.

Process chromatography concentration risk

A concentrated, lumpy process chromatography business creates durable revenue volatility and execution risk. Regulatory/customer production shifts can cause multi-quarter declines; given its material size, weak chromatography demand can offset growth in core Life Science despite other product gains.

Margin pressure & impairments

Significant impairment charges and recurring supply-chain/expedite costs signal structural execution gaps. Persistent cost pressures and write-offs can depress sustainable gross and operating margins, limit reinvestment capacity, and suggest management must address deeper operational inefficiencies.

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 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.

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, consumables, and software solutions. Key revenue streams include instrument sales, which provide significant margins, and recurring revenues from consumables and reagent sales. Additionally, Bio-Rad has established significant partnerships and collaborations with academic institutions, biotech firms, and healthcare providers, enhancing its market presence and driving sales. The company also invests in research and development to innovate and expand its product offerings, which contributes to its long-term revenue growth.

Bio-Rad Laboratories Financial Statement Overview

Summary

Strong balance sheet (low leverage, sizable equity cushion) and consistently positive operating/free cash flow support business durability. The key drag is earnings quality: reported profitability swung sharply from large losses (2022–2024) to strong profits (2025) while revenue was mostly stable, reducing confidence in repeatable margins.

Income Statement

Revenue has been broadly stable over the last several years, with low-to-negative growth in 2022–2024 followed by a return to slight growth in 2025. Gross margins remain solid (low-to-mid 50s), indicating resilient product economics. However, profitability has been volatile: 2022–2024 show large reported losses and negative profit margins despite positive operating profit in those years, then 2025 rebounds to a strong positive net margin. This swingy earnings profile reduces confidence in the durability of reported profits even with healthy gross profit.

Balance Sheet

Leverage looks conservative, with debt-to-equity staying low across periods and improving again in 2025 versus 2024. Equity remains sizable relative to total assets, providing a meaningful cushion and flexibility. The main weakness is variability in shareholder returns, with return on equity negative in 2022–2024 and then positive again in 2025—suggesting reported earnings volatility rather than balance-sheet strain.

Cash Flow

Operating cash flow and free cash flow are consistently positive across all years, which supports underlying business quality despite reported net-income volatility. Cash generation improved in 2024–2025 versus 2022–2023, and free cash flow grew strongly in 2025. A watch item is that cash flow relative to accounting earnings has not been consistently strong (e.g., operating cash flow was below net income in 2025), but overall cash conversion remains healthy and free cash flow is meaningfully 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

• Technical Analysis Sentiment: Negative
• Last Price: 271.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIO, the sentiment is Negative. The current price of 271.3 is below the 20-day moving average (MA) of 290.08, below the 50-day MA of 302.62, and below the 200-day MA of 282.63, indicating a bearish trend. The MACD of -10.08 indicates Positive momentum. The RSI at 35.84 is Neutral, neither overbought nor oversold. The STOCH value of 37.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BIO.

Bio-Rad Laboratories Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EW	79 Outperform	$45.83B	42.60	―	―	0.19%	65.58%
BSX	71 Outperform	$113.19B	39.05	12.60%	―	21.62%	54.80%
DXCM	71 Outperform	$28.02B	34.53	34.50%	―	14.21%	5.66%
MDT	71 Outperform	$126.27B	27.47	―	2.76%	5.34%	13.15%
BIO	64 Neutral	$7.26B	9.74	10.84%	―	-0.88%	10.93%
PHG	64 Neutral	$29.74B	29.52	―	3.30%	-0.76%	-55.03%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Bio-Rad Laboratories Corporate Events

Bio-Rad Updates Investors on Sartorius Strategic Investment Metrics

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 in sales revenue, €542.6 million in EBIT, and €230.4 million in net profit, alongside strong operating cash flow and a solid equity base, offering Bio-Rad stakeholders greater transparency into the financial health of a key strategic holding.

The disclosed Sartorius figures, prepared under IFRS and related standards, highlight a business with substantial non-current assets and a sizeable but balanced liability structure as of year-end 2025. By relaying these data while explicitly disclaiming responsibility for their accuracy, Bio-Rad reinforces its commitment to detailed reporting on significant equity investments without altering its own operational guidance, giving investors additional context for assessing the value and risk profile of its Sartorius stake.

The most recent analyst rating on (BIO) stock is a Hold with a $320.00 price target. To see the full list of analyst forecasts on Bio-Rad Laboratories stock, see the BIO Stock Forecast page.

Bio-Rad Laboratories Posts Mixed Q4 2025 Financial Results

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 and biotech funding. The Life Science segment saw sales decline for both the quarter and full year on a currency-neutral basis, while the Clinical Diagnostics segment delivered solid growth driven by quality controls, blood typing, and diabetes products, with gains across all regions.

For the fourth quarter, total net sales rose 3.9 percent year over year to $693.2 million, but GAAP gross margin slipped to 49.8 percent and the company recorded a loss from operations, reflecting margin pressure and a $172.8 million impairment of purchased intangibles. Non‑GAAP operating income and margins also declined versus the prior year, underscoring operational headwinds despite revenue gains in diagnostics.

Full-year 2025 revenue inched up 0.7 percent to $2,583.2 million, essentially flat on a currency-neutral basis, as Life Science weakness offset modest Clinical Diagnostics growth. Bio-Rad generated non‑GAAP net income of $270.5 million, down from 2024, but reported a GAAP net income of $759.9 million—versus a large loss in 2024—primarily due to a favorable change in the fair market value of its investment in Sartorius AG, partially offset by the intangibles impairment and a higher effective tax rate.

Strategically, Bio-Rad expanded its Droplet Digital PCR leadership through the acquisition and integration of Stilla Technologies and advanced its oncology diagnostics strategy via partnerships with Gencurix and Biodesix to distribute and develop in vitro diagnostic oncology assays. The company also broadened global access to over 1,200 clinical diagnostics products through new registrations in more than 60 countries, strengthened commercial leadership with the appointment of Rajat Mehta as Executive Vice President of Global Commercial Operations, and delivered $532 million in cash from operations and $375 million in free cash flow.

Looking ahead to full-year 2026, Bio-Rad guided to non‑GAAP, currency-neutral revenue growth of approximately 0.5 to 1.5 percent and an expected non‑GAAP operating margin of about 12.0 to 12.5 percent. This outlook signals a cautious growth trajectory as the company focuses on improving profitability and capitalizing on its expanded ddPCR and oncology diagnostics platforms while navigating funding and reimbursement pressures in its end markets.

The most recent analyst rating on (BIO) stock is a Hold with a $340.00 price target. To see the full list of analyst forecasts on Bio-Rad Laboratories stock, see the BIO Stock Forecast page.