Loading…
Maker of life-science research reagents/instruments (PCR, chromatography) and clinical diagnostics test systems.
Maker of life-science research reagents/instruments (PCR, chromatography) and clinical diagnostics test systems.
Sells instruments to labs and then earns repeatedly on the reagents and quality-control materials they use, which gives recurring revenue. Clinical diagnostics is the bigger segment. The company holds a large stake in Sartorius, a German lab-equipment maker, which produces large unrealized gains or losses in reported profit. The Schwartz family controls the votes through Class B shares.
Moat: narrow (installed base, switching costs, IP / patents). Digital PCR and diagnostics quality-control franchises have loyal, workflow-embedded customer bases.
Headquarters: Hercules, California, USA · Founded: 1952 · Employees: 7,450
Size Bio-Rad Laboratories (BIO) is a United States Health Care company (Medical Specialties) with a market value of $10.3B, the 763rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $381.57 on 6 Nov 2026.
Performance Over six months the shares gained 50.0%, against +30.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 1.4% over the last twelve months (peer median +5.7%); the operating margin is 9.1% (peer median 14.6%).
Valuation It trades at 35.7× forward earnings against a peer median of 19.7× (4th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +26 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.9 points below its cost of capital (9.6% WACC).
Credit Bio-Rad Laboratories has 2 bonds outstanding ($1.20B), rated BBB by the agencies and trading like BBB at a weighted spread of 95 bp.
Short interest Short interest is 5.1% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.59B | $2.58B | $2.57B | $2.67B | $2.80B |
| Revenue growth | — | +1% | -4% | -5% | — |
| Gross profit | $1.34B | $1.34B | $1.38B | $1.43B | $1.57B |
| EBITDA | $443M | $472M | $504M | $576M | $657M |
| Net income | $222M | $760M | -$1.84B | -$637M | -$3.63B |
| Free cash flow | $353M | $375M | $289M | $218M | $1.32B |
| Capital expenditure | $140M | $158M | $166M | $157M | $114M |
| Total debt | $1.37B | $1.39B | $1.38B | $1.41B | $1.40B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bio-Rad Laboratories BIO | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 25.8× | 20.9% |
| Danaher DHR | $162B | +35% | +6% | 21% | 25.3× | 20.5% |
| Bio-Techne TECH | $11.4B | +51% | 0% | 22% | 35.9× | 31.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BIO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.9% | +10.1% | 7th lowest of 21 |
| 6-month return | +50.0% | +30.0% | 5th highest of 21 |
| Distance from 52-week high | -3.7% | -12.0% | 4th highest of 21 |
| Revenue growth (TTM) | +1.4% | +5.7% | 4th lowest of 21 |
| Operating margin | 9.1% | 14.6% | 4th lowest of 21 |
| Forward P/E | 35.7× | 19.7× | 4th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 26.5% | 9.4% | 3rd most demanding of 20 |
| Growth delivered (Del g) | +0.3% | +10.0% | 2nd lowest of 20 |
| Hurdle (Req g minus delivered) | +26.2 pp | +1.1 pp | most demanding of 20 |
| ROIC minus cost of capital | -6.9 pp | +2.6 pp | 2nd lowest of 21 |
| EV / EBITDA | 22.6× | 12.2× | 3rd most expensive of 18 |
| Net debt / EBITDA | -0.6× | 1.2× | 3rd least indebted of 18 |
| Bond spread | 95 bp | 107 bp | 2nd tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bio-Rad Laboratories BIO | United States | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% | +0.3% |
| Insulet PODD | United States | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% | +24.5% |
| Qiagen QGEN | United States | $10.4B | +52% | +3% | 25% | 19.8× | 8.8% | +2.2% |
| Avantor AVTR | United States | $10.5B | +86% | +1% | 8% | 17.7× | 16.1% | +0.5% |
| Globus Medical GMED | United States | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% | +30.1% |
| Bruker BRKR | United States | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% | +11.6% |
| Demant A/S DEMANT.CO | Denmark | $11.6B | +62% | +10% | 18% | 25.7× | 6.8% | +9.8% |
| Align Technology ALGN | United States | $11.8B | -2% | +4% | 19% | 13.9× | 11.4% | +10.3% |
| Cooper Companies (The) COO | United States | $11.9B | +4% | +5% | 19% | 13.8× | 9.4% | +11.0% |
| Olympus 7733.T | Japan | $12.2B | +13% | +8% | 16% | 18.0× | -1.5% | +6.7% |
| bioMerieux BIM.PA | France | $12.4B | +29% | -3% | 15% | 20.9× | 8.9% | +5.5% |
| Penumbra PEN | United States | $12.6B | -1% | +17% | 12% | 54.9× | 30.1% | +20.2% |
| Smith & Nephew SN..L | United Kingdom | $13.1B | +5% | +2% | 17% | 14.4× | 11.1% | +5.6% |
| Glaukos GKOS | United States | $13.3B | +68% | +47% | -9% | 155.4× | n/a | n/a |
| Sysmex 6869.T | Japan | $7.89B | +50% | +4% | 13% | 31.2× | 4.4% | +10.4% |
| Baxter International BAX | United States | $13.3B | +43% | +5% | 6% | 12.6× | 12.7% | -0.7% |
| Lenskart Solutions LENSKART.NS | India | $13.4B | +49% | +35% | 10% | 137.4× | 52.8% | +33.5% |
| Shimadzu 7701.T | Japan | $7.79B | +15% | +6% | 13% | 19.5× | 6.3% | +7.3% |
| Getinge GETI-B.ST | Sweden | $7.73B | +45% | -4% | 14% | 21.0× | 4.7% | +3.2% |
| Bausch + Lomb BLCO.TO | Canada | $7.20B | +31% | +11% | 9% | 17.3× | 11.0% | +10.0% |
| Shenzhen New Industries Biomedical Engineering 300832.SZ | China | $7.11B | +25% | +7% | 43% | 25.5× | 2.1% | +15.7% |
Bio-Rad Laboratories has 2 bonds outstanding with $1.20B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.58%, a spread of 95 bp over government bonds.