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Makes research reagents, proteins, antibodies and diagnostic tools used by biotech, pharma and academic labs for life-sciences research.
Makes research reagents, proteins, antibodies and diagnostic tools used by biotech, pharma and academic labs for life-sciences research.
Most sales are small repeat orders for catalog proteins and antibodies, which labs reorder as they run experiments; instruments such as automated protein analyzers then pull through reagent sales. Diagnostics and spatial-biology tests, built up through acquisitions such as Advanced Cell Diagnostics in 2017, are the other main line.
Moat: narrow (brand, scale, distribution). A broad catalog and established brand recognition (R&D Systems) among life-sciences researchers support recurring sales.
Headquarters: Minneapolis, Minnesota, US · Founded: 1976 · Employees: 3,000
Size Bio-Techne (TECH) is a United States Health Care company (Biotechnology) with a market value of $11.4B, the 719th largest of 3,117 United States companies the cockpit tracks. Shares closed at $72.78 on 6 Nov 2026.
Performance Over six months the shares gained 50.8%, against +9.0% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 0.4% over the last twelve months (peer median +38.0%); the operating margin is 22.4% (peer median 9.4%).
Valuation It trades at 35.9× forward earnings against a peer median of 34.7× (6th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is +5%, 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 1.1 points below its cost of capital (11.1% WACC).
Short interest Short interest is 4.8% of the free float (15 Oct 2026).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $1.22B | $1.22B | $1.22B | $1.16B | $1.14B |
| Revenue growth | — | 0% | +5% | +2% | — |
| Gross profit | $802M | $779M | $779M | $773M | $770M |
| EBITDA | $370M | $373M | $363M | $387M | $388M |
| Net income | $182M | $182M | $73.4M | $168M | $285M |
| Free cash flow | $263M | $263M | $257M | $236M | $216M |
| Capital expenditure | $28.9M | $28.9M | $31.0M | $62.9M | $38.2M |
| Total debt | $289M | $289M | $444M | $420M | $455M |
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-Techne TECH | $11.4B | +51% | 0% | 22% | 35.9× | 31.3% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 25.8× | 20.9% |
| Danaher DHR | $162B | +35% | +6% | 21% | 25.3× | 20.5% |
| Sartorius SRT.DE | $20.0B | +34% | +4% | 18% | 42.6× | 24.9% |
| Bio-Rad Laboratories BIO | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% |
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 | TECH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.5% | -4.6% | 9th highest of 21 |
| 6-month return | +50.8% | +9.0% | 7th highest of 21 |
| Distance from 52-week high | -0.1% | -26.1% | highest of 21 |
| Revenue growth (TTM) | -0.4% | +38.0% | 2nd lowest of 18 |
| Operating margin | 22.4% | 9.4% | 6th highest of 18 |
| Forward P/E | 35.9× | 34.7× | 6th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 31.3% | 11.9% | 4th most demanding of 12 |
| Growth delivered (Del g) | +5.5% | +19.8% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | +25.8 pp | -8.7 pp | 2nd most demanding of 12 |
| ROIC minus cost of capital | -1.1 pp | -2.9 pp | 9th highest of 17 |
| EV / EBITDA | 31.0× | 16.1× | 4th most expensive of 9 |
| Net debt / EBITDA | 0.1× | -1.1× | 4th most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bio-Techne TECH | United States | $11.4B | +51% | 0% | 22% | 35.9× | 31.3% | +5.5% |
| Kymera Therapeutics KYMR | United States | $11.2B | +53% | +134% | -396% | n/a | n/a | n/a |
| Halozyme Therapeutics HALO | United States | $11.8B | +62% | +41% | 57% | 10.7× | 2.5% | +39.2% |
| BioMarin Pharmaceutical BMRN | United States | $10.9B | +4% | +20% | 19% | 10.3× | 6.5% | +12.0% |
| Sichuan Kelun Pharmaceutical 002422.SZ | China | $10.8B | +30% | 0% | 9% | 37.3× | 7.2% | +2.3% |
| Cspc Pharma 1093.HK | Hong Kong | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% | +0.1% |
| ALTEOGEN 196170.KS | South Korea | $10.3B | -46% | +61% | 53% | 47.0× | 29.8% | +38.5% |
| Elanco Animal Health ELAN | United States | $12.9B | +9% | +12% | 7% | 21.8× | 34.8% | +7.6% |
| Vaxcyte PCVX | United States | $10.1B | +21% | n/a | n/a | n/a | n/a | n/a |
| Summit Therapeutics SMMT | United States | $13.1B | -10% | n/a | n/a | n/a | n/a | n/a |
| BridgeBio Pharma BBIO | United States | $14.5B | +10% | +167% | -37% | n/a | n/a | n/a |
| Krystal Biotech KRYS | United States | $8.92B | -2% | +26% | 48% | 34.7× | 11.9% | +26.0% |
| Genscript Biotech 1548.HK | Hong Kong | $8.81B | +96% | +53% | 12% | 297.9× | 36.5% | +19.8% |
| Arrowhead Pharmaceuticals ARWR | United States | $8.22B | -20% | +17% | -34% | n/a | n/a | n/a |
| Twist Bioscience TWST | United States | $7.95B | +112% | +19% | -32% | n/a | n/a | n/a |
| Neurocrine Biosciences NBIX | United States | $16.7B | +8% | +38% | 25% | 18.2× | -1.7% | +22.3% |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -14% | n/a | 41.8% | +16.6% |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 15% | 86.1× | 18.7% | +85.4% |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -19% | 75.5× | n/a | n/a |
| CG Oncology CGON | United States | $6.74B | +9% | +1,030% | -4,056% | n/a | n/a | n/a |
| Immunovant IMVT | United States | $6.31B | +5% | n/a | n/a | n/a | n/a | n/a |