Latest Ratios: P/E Ratio 154.3x · EV/EBITDA 53.7x · ROE 3.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.1B | $8.2B | $11.5B | $13.2B | $14.2B | $18.2B | $10.4B | $8.1B | $5.6B | $4.4B | $4.2B |
| Enterprise Value | $11.4B | $8.5B | $11.8B | $13.5B | $14.4B | $18.5B | $10.7B | $8.5B | $5.8B | $4.7B | $4.3B |
| P/E Ratio → | 154.35 | 111.85 | 68.24 | 46.38 | 52.20 | 129.39 | 45.53 | 84.06 | 45.11 | 56.50 | 40.27 |
| P/S Ratio | 9.11 | 6.74 | 9.94 | 11.62 | 12.86 | 19.58 | 14.09 | 11.36 | 8.76 | 7.83 | 8.43 |
| P/B Ratio | 5.91 | 4.28 | 5.57 | 6.72 | 8.36 | 11.60 | 7.53 | 6.96 | 5.22 | 4.63 | 4.79 |
| P/FCF | 43.33 | 32.03 | 48.79 | 61.13 | 50.73 | 59.21 | 67.80 | 51.91 | 37.68 | 34.36 | 33.15 |
| P/OCF | 38.66 | 28.58 | 38.53 | 51.94 | 43.72 | 51.76 | 50.70 | 44.64 | 33.05 | 30.72 | 29.25 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.97 | 10.17 | 11.86 | 13.00 | 19.82 | 14.47 | 11.92 | 9.09 | 8.29 | 8.57 |
| EV / EBITDA | 53.73 | 40.06 | 37.02 | 33.20 | 36.15 | 56.76 | 44.52 | 41.78 | 29.14 | 25.66 | 22.13 |
| EV / EBIT | 111.47 | 79.45 | 58.52 | 38.55 | 45.97 | 113.80 | 36.16 | 63.66 | 42.95 | 39.10 | 28.67 |
| EV / FCF | — | 33.13 | 49.92 | 62.40 | 51.28 | 59.93 | 69.67 | 54.49 | 39.13 | 36.37 | 33.70 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.8% | 64.8% | 66.4% | 67.7% | 68.4% | 68.0% | 65.4% | 66.3% | 67.2% | 66.5% | 67.5% |
| Operating Margin | 8.4% | 8.4% | 17.8% | 26.3% | 26.8% | 25.5% | 21.3% | 17.6% | 21.2% | 21.6% | 30.2% |
| Net Profit Margin | 6.0% | 6.0% | 14.5% | 25.1% | 24.6% | 15.1% | 31.0% | 13.5% | 19.5% | 13.7% | 20.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.7% | 3.7% | 8.3% | 15.6% | 16.6% | 9.5% | 18.0% | 8.6% | 12.3% | 8.4% | 12.1% |
| ROA | 2.8% | 2.8% | 6.3% | 11.6% | 11.9% | 6.5% | 11.7% | 5.5% | 8.0% | 5.8% | 9.5% |
| ROIC | 3.4% | 3.4% | 6.8% | 10.9% | 12.2% | 10.3% | 7.3% | 6.6% | 8.2% | 8.5% | 12.2% |
| ROCE | 4.2% | 4.2% | 8.2% | 12.9% | 14.0% | 11.8% | 8.5% | 7.6% | 9.3% | 9.8% | 14.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.23 | 0.23 | 0.20 | 0.23 | 0.19 | 0.27 | 0.31 | 0.43 | 0.31 | 0.37 | 0.15 |
| Debt / EBITDA | 2.09 | 2.09 | 1.32 | 1.12 | 0.82 | 1.29 | 1.81 | 2.48 | 1.69 | 1.92 | 0.69 |
| Net Debt / Equity | — | 0.15 | 0.13 | 0.14 | 0.09 | 0.14 | 0.21 | 0.35 | 0.20 | 0.27 | 0.08 |
| Net Debt / EBITDA | 1.33 | 1.33 | 0.84 | 0.68 | 0.39 | 0.68 | 1.19 | 1.98 | 1.08 | 1.42 | 0.36 |
| Debt / FCF | — | 1.10 | 1.13 | 1.27 | 0.55 | 0.72 | 1.87 | 2.59 | 1.45 | 2.01 | 0.55 |
| Interest Coverage | 12.57 | 12.57 | 12.80 | 31.20 | 27.65 | 11.62 | 15.40 | 6.16 | 13.36 | 16.21 | 85.37 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.46 | 3.46 | 3.87 | 4.84 | 3.44 | 3.35 | 4.88 | 4.05 | 5.06 | 2.55 | 4.69 |
| Quick Ratio | 2.38 | 2.38 | 2.75 | 3.50 | 2.64 | 2.59 | 3.92 | 3.15 | 3.97 | 2.11 | 3.63 |
| Cash Ratio | 0.92 | 0.92 | 0.96 | 1.59 | 1.40 | 1.52 | 2.54 | 1.63 | 2.31 | 1.17 | 1.77 |
| Asset Turnover | — | 0.48 | 0.43 | 0.43 | 0.48 | 0.41 | 0.36 | 0.38 | 0.40 | 0.36 | 0.44 |
| Inventory Turnover | 2.27 | 2.27 | 2.17 | 2.14 | 2.47 | 2.55 | 2.48 | 2.64 | 2.46 | 3.13 | 2.84 |
| Days Sales Outstanding | — | 61.91 | 76.02 | 70.15 | 64.23 | 57.00 | 60.55 | 70.27 | 68.29 | 75.74 | 68.31 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.6% | 0.4% | 0.4% | 0.4% | 0.3% | 0.5% | 0.6% | 0.9% | 1.1% | 1.1% |
| Payout Ratio | 68.7% | 68.7% | 30.0% | 17.6% | 18.4% | 35.3% | 21.3% | 50.3% | 38.3% | 61.2% | 45.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.9% | 1.5% | 2.2% | 1.9% | 0.8% | 2.2% | 1.2% | 2.2% | 1.8% | 2.5% |
| FCF Yield | 2.3% | 3.1% | 2.0% | 1.6% | 2.0% | 1.7% | 1.5% | 1.9% | 2.7% | 2.9% | 3.0% |
| Buyback Yield | 2.5% | 3.4% | 0.7% | 0.1% | 1.1% | 0.2% | 0.5% | 0.2% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.9% | 4.0% | 1.1% | 0.5% | 1.5% | 0.5% | 1.0% | 0.8% | 0.9% | 1.1% | 1.1% |
| Shares Outstanding | — | $160M | $161M | $162M | $164M | $162M | $158M | $156M | $152M | $150M | $149M |
Biotech funding cycle sensitivity
Based on current market data, Bio-Techne trades at a forward P/E of 36.89, which suggests that investors are pricing in a significant recovery in life science research spending despite the company's recent mixed revenue performance and the broader cyclical headwinds currently impacting the biotechnology sector.
The elevated EV/EBITDA multiple of 53.73 indicates that the market assigns a premium to Bio-Techne's high-margin reagent business and its potential for long-term clinical revenue. However, this valuation appears aggressive when compared to peers like Revvity, suggesting that the market may be overestimating the speed of the transition from academic research to commercial clinical manufacturing.
As reported in recent financial statements, Bio-Techne's ROIC has remained modest, hovering around 2.6% in 2026Q3, which indicates that the company's aggressive M&A strategy has yet to yield the expected compounding returns on invested capital relative to its historical performance and industry benchmarks.
The persistent gap between the company's high gross margins and its low ROIC suggests that significant capital is tied up in intangible assets and goodwill from past acquisitions. Investors should monitor whether management can improve capital efficiency by streamlining the integration of these acquired platforms into the core reagent business.
According to the latest quarterly filings, Bio-Techne's cash conversion cycle reached 214 days in 2026Q3, primarily driven by a high days inventory outstanding of 177 days, which reveals potential inefficiencies in managing biological reagent stock levels relative to current market demand and customer procurement cycles.
The extended inventory holding period appears to be a structural challenge for a company dealing with specialized biological products that carry expiration risks. This inefficiency warrants further investigation into whether the current inventory levels are a strategic buffer for supply chain security or a sign of slowing demand for specific product lines.
Based on the provided balance sheet data, Bio-Techne maintains a very low debt-to-equity ratio of 0.14 as of 2026Q3, which provides the company with a fortress-like balance sheet that effectively mitigates refinancing risks in the current high-interest-rate environment compared to more levered industry peers.
This conservative capital structure allows the company to navigate cyclical downturns in biotech funding without the pressure of significant debt service obligations. While this approach limits the potential for equity-boosting leverage, it provides the necessary dry powder for future strategic acquisitions that could enhance the company's long-term competitive moat.
The P/E ratio is frequently misapplied to Bio-Techne because it fails to account for the significant non-cash amortization charges resulting from the company's M&A-heavy growth strategy, which obscures the underlying cash-generating capability of the business and leads to an inaccurate assessment of its true earnings power.
Analysts should prioritize free cash flow and adjusted operating income over GAAP P/E to better understand the company's operational health. Relying on headline P/E ratios may lead to an overly pessimistic view of the company's valuation during periods of high acquisition activity, as these non-cash expenses do not reflect the actual cash flow generated by the core reagent and instrument segments.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying TECH stock.
Bio-Techne Corporation's current P/E ratio is 154.3x. The historical average is 44.6x. This places it at the 100th percentile of its historical range.
Bio-Techne Corporation's current EV/EBITDA is 53.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.8x.
Bio-Techne Corporation's return on equity (ROE) is 3.7%. The historical average is 17.6%.
Based on historical data, Bio-Techne Corporation is trading at a P/E of 154.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Bio-Techne Corporation's current dividend yield is 0.44% with a payout ratio of 68.7%.
Bio-Techne Corporation has 64.8% gross margin and 8.4% operating margin.
Bio-Techne Corporation's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.