Bio-Techne (TECH) AI Stock Analysis

• Market Cap: $10.14B
• Dividend Yield: 0.54%
• Average Volume (3M): 2.24M
• Price to Earnings (P/E): 127.4
• Beta (1Y): 0.96
• Revenue Growth: 3.85%
• EPS Growth: -48.17%
• Country: US
• Employees: 3,100
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.46
• Shares Outstanding: 156,453,300
• 10 Day Avg. Volume: 2,759,664
• 30 Day Avg. Volume: 2,237,884
• PEG Ratio: -1.97
• Price to Book (P/B): 4.22
• Price to Sales (P/S): 6.64
• P/FCF Ratio: 31.59
• Enterprise Value/Market Cap: 0.94
• Enterprise Value/Revenue: 7.81
• Enterprise Value/Gross Profit: 11.97
• Enterprise Value/Ebitda: 41.78
• 1Y Price Target: $73.11
• Price Target Upside: 11.65% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): 1.99
• Revenue Forecast (FY): $1.23B

• Rating: 65 Neutral
• Price Target: $74.00 ▲(13.01% Upside)

Overall score reflects pressured recent operating performance (declining TTM revenue and margin compression) partly offset by a strong balance sheet and positive cash generation. Technicals are supportive with the stock trending above key moving averages, but valuation is a major drag given the very high P/E and low yield. Earnings call guidance suggests timing-related headwinds should ease with continued margin improvement, supporting a mid-range score.

Positive Factors

High Gross Margins

Sustained gross margins near 65% provide a durable profitability cushion against end‑market cyclicality and mix shifts. That structural margin strength supports long‑term investment in R&D and instruments, enabling product differentiation and resilience through biotech funding cycles.

Conservative Balance Sheet

Low leverage and substantial equity position give the company durable financial flexibility. With debt-to-equity around 0.17 and leverage below 1x EBITDA, Bio‑Techne can pursue bolt‑on M&A, sustain R&D, and weather funding downturns without stressing liquidity or forcing distress asset sales.

Solid Cash Generation

Consistent operating cash flow and ~ $223M FCF TTM show durable cash conversion (FCF ≈0.89x net income). This cash generation underpins capital allocation flexibility—funding innovation, instruments, dividends, and selective M&A—even if revenue growth temporarily slows.

Negative Factors

Declining Revenue Trend

A near‑10% TTM revenue decline signals a meaningful top‑line deterioration that undermines scale economics and long‑term growth momentum. Persistent revenue contraction can erode operating leverage, constrain reinvestment, and lengthen the recovery timeline even after timing headwinds abate.

Operating & Net Margin Compression

Net margin slid to ~6.7% from much higher historical levels, reflecting mix shifts, divestiture impacts, and lower‑margin OEM flows. Sustained margin compression reduces return on equity and free cash flow growth potential, limiting long‑term reinvestment and shareholder return capacity.

Customer Concentration & Lumpy Demand

Heavy reliance on a few large cell‑therapy customers produced volatile order timing (GMP reagent declines and ~300bps headwind). Such concentration impairs revenue predictability, raises working‑capital swings, and increases execution risk for capacity and inventory planning over the medium term.

Bio-Techne Business Overview & Revenue Model

Company Description

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies. This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids. The Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications; and sells products for genetic carrier screening, oncology diagnostics, molecular controls, and research, as well as instruments and process control products for hematology, blood chemistry and gases, and coagulation controls and reagents used in various diagnostic applications. It offers its products under R&D Systems, Tocris Biosciences, Novus Biologicals, ProteinSimple, Advanced Cell Diagnostics, Exosome Diagnostics, and Asuragen brands. The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014. Bio-Techne Corporation was founded in 1976 and is headquartered in Minneapolis, Minnesota.

How the Company Makes Money

Bio-Techne generates revenue through multiple key streams, primarily from the sale of its life science reagents and instruments. The Protein Sciences segment contributes significantly to the company's earnings by providing a variety of research and diagnostic products, including antibodies and proteins, which are essential in various research applications. The Diagnostics segment further enriches revenue through the sale of specialty reagents and assays used in clinical laboratories. Bio-Techne also benefits from strategic partnerships and collaborations with academic institutions, pharmaceutical companies, and research organizations, which often lead to co-development opportunities and expanded market reach. Additionally, the company may engage in licensing agreements for its proprietary technologies, further diversifying its income sources.

Bio-Techne Financial Statement Overview

Summary

Moderate fundamentals: TTM revenue is down (-9.5%) and profitability compressed materially (net margin ~6.7% vs much higher prior years). Offsetting this, gross margins remain strong (~65%+), leverage is conservative (debt-to-equity ~0.17), and TTM free cash flow is still solid (~$223M) despite a sharp TTM FCF growth decline (-46.2%).

Income Statement

Revenue growth has turned negative in TTM (Trailing-Twelve-Months) (-9.5%) after modest growth in FY2025 (+5.2%) and FY2024 (+2.0%). Profitability has compressed sharply versus prior years: net margin is down to ~6.7% in TTM (Trailing-Twelve-Months) from ~25.1% in FY2023 and ~14.5% in FY2024, and operating profitability similarly stepped down. A key positive is the consistently strong gross margin profile (~65%+), but the recent decline in operating and net profitability is a meaningful near-term headwind.

Balance Sheet

The balance sheet looks conservatively levered, with debt-to-equity at ~0.17 in TTM (Trailing-Twelve-Months) (and generally ~0.19–0.27 historically), indicating manageable financial risk. Equity remains substantial (~$2.0B) relative to debt (~$337M TTM), supporting flexibility. The main weakness is the decline in return on equity to ~4.1% in TTM (Trailing-Twelve-Months) from much stronger levels in FY2022–FY2023, reflecting the recent earnings pressure more than balance-sheet strain.

Cash Flow

Cash generation remains solid, with operating cash flow of ~$249M and free cash flow of ~$223M in TTM (Trailing-Twelve-Months). Cash conversion is healthy (free cash flow is ~0.89x net income in TTM), suggesting earnings quality remains reasonable. However, free cash flow growth in TTM (Trailing-Twelve-Months) is sharply negative (-46.2%), pointing to a meaningful deceleration versus the prior year and reducing near-term financial momentum despite still-adequate coverage.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	1.22B	1.22B	1.16B	1.14B	1.11B	931.03M
Gross Profit	792.76M	790.27M	769.73M	769.82M	756.50M	632.85M
EBITDA	227.21M	216.88M	313.14M	457.11M	413.76M	249.87M
Net Income	81.10M	73.40M	168.10M	285.26M	272.05M	140.41M
Balance Sheet
Total Assets	2.52B	2.56B	2.70B	2.64B	2.29B	2.26B
Cash, Cash Equivalents and Short-Term Investments	172.88M	162.19M	152.86M	204.31M	247.03M	231.55M
Total Debt	350.89M	444.06M	419.54M	454.96M	325.97M	420.55M
Total Liabilities	511.71M	639.06M	635.02M	672.18M	593.79M	691.72M
Stockholders Equity	2.01B	1.92B	2.07B	1.97B	1.70B	1.56B
Cash Flow
Free Cash Flow	223.02M	256.55M	236.10M	216.15M	280.36M	307.86M
Operating Cash Flow	249.32M	287.56M	298.98M	254.39M	325.27M	352.16M
Investing Cash Flow	-13.78M	-35.18M	-203.03M	-265.65M	-96.85M	-243.52M
Financing Cash Flow	-251.69M	-253.91M	-122.40M	22.62M	-242.85M	-62.55M

Bio-Techne Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 65.48
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TECH, the sentiment is Negative. The current price of 65.48 is below the 20-day moving average (MA) of 67.01, above the 50-day MA of 63.46, and above the 200-day MA of 56.77, indicating a neutral trend. The MACD of 0.24 indicates Positive momentum. The RSI at 44.50 is Neutral, neither overbought nor oversold. The STOCH value of 35.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TECH.

Bio-Techne Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HALO	73 Outperform	$9.43B	16.92	124.50%	―	31.19%	59.01%
TECH	65 Neutral	$10.14B	127.37	3.96%	0.54%	3.85%	-48.17%
CORT	64 Neutral	$4.31B	47.20	16.47%	―	17.92%	-26.13%
JAZZ	64 Neutral	$10.06B	-27.18	-9.06%	―	4.14%	-179.96%
ROIV	61 Neutral	$19.57B	-23.68	-17.11%	―	-83.82%	-109.22%
RYTM	53 Neutral	$6.87B	-33.51	-240.36%	―	54.92%	28.47%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Bio-Techne Corporate Events

Bio-Techne posts stable Q2 results with margin gains

On February 4, 2026, Bio-Techne reported second-quarter fiscal 2026 results for the period ended December 31, 2025, with revenue flat year-on-year at $295.9 million but improvements in profitability driven by cost controls and portfolio optimization. GAAP EPS rose to $0.24 from $0.22, while adjusted EPS increased to $0.46 from $0.42, and adjusted operating margin expanded 100 basis points to 31.1%, aided by ongoing productivity initiatives and the divestiture of Exosome Diagnostics, despite an unfavorable product mix. The Protein Sciences segment posted 2% higher reported sales, though organic revenue slipped 1%, and its margin narrowed due to mix effects, whereas the Diagnostics and Spatial Biology segment saw a 4% decline in reported sales but 3% organic growth and a sharp margin improvement to 10.4% as the held-for-sale business and Exosome Diagnostics were removed from results. Management highlighted continued double-digit growth in large pharma, stabilizing demand from U.S. academic customers, and a third consecutive quarter of growth in China/APAC, underscoring a more stable operating environment as the company marks its 50th anniversary and reinforces its positioning in high-value life science and diagnostic applications.

The most recent analyst rating on (TECH) stock is a Buy with a $70.00 price target. To see the full list of analyst forecasts on Bio-Techne stock, see the TECH Stock Forecast page.

Bio-Techne Reports Q1 2026 Revenue and EPS Growth

At its annual meeting, Bio-Techne Corporation announced the election of nine directors and the approval of executive compensation and KPMG LLP as its independent auditor for fiscal year ending June 30, 2026. The company reported a slight decrease in first-quarter fiscal 2026 revenue to $286.6 million, with a GAAP EPS increase to $0.24. The divestiture of Exosome Diagnostics and cost initiatives improved operating margins. Despite challenges in the emerging biotech sector, Bio-Techne saw stabilization in the US academic market and growth in its ProteinSimple and Spatial Biology segments. The company remains focused on its strategic growth pillars, including cell therapy, where some customers received FDA Fast Track Designation.

The most recent analyst rating on (TECH) stock is a Buy with a $73.00 price target. To see the full list of analyst forecasts on Bio-Techne stock, see the TECH Stock Forecast page.