Bio-Techne Corporation

TECH

Biotechnology · Healthcare

Price

$72.32

+0.04 (+0.06%)

Market Cap

$11.32B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Exceptional

Stability

Exceptional

Valuation

Good

Dividends

Weak

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Share count falling — buybacks

−4.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 164.1M (2022) → 157.0M (2026)

Winston Score History

The full picture

Bio-Techne makes tools and ingredients that scientists use to study biology and develop new medicines. Its main products include proteins, antibodies, and diagnostic assay kits sold under brands like R&D Systems and Novus Biologicals. Its customers are pharmaceutical companies, biotech firms, academic research labs, and hospitals around the world.

The company earns most of its revenue by selling these research reagents and instruments directly to labs, with some recurring revenue from consumables used repeatedly in experiments. Bio-Techne operates globally, with a strong presence in North America and Europe, and generates roughly $1 billion in annual revenue. Its competitive advantage comes from the high quality and reliability of its proteins and antibodies, which scientists depend on for reproducible results — switching to a competitor is risky for researchers. The main risk is that reduced funding for academic and biotech research, which has been under pressure recently, can quickly slow demand for its products.

Politician Trades

14 trades / 12mo

6 Congressional buys and 8 sells on TECH in the last 12 months.

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Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

65.8%

Premium pricing power — 65.8% gross margin

Profit after running costs

Operating Margin

23.1%

Excellent — 23.1% operating margin

Return on the money invested

ROCE

10.9%

Below par — 10.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-0.4%

Shrinking sales (-0.4% YoY)

Profit growth

EPS YoY

+154.3%

Earnings growing fast (+154.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

161%

Turns 161% of profit into real cash

Spare cash per sale

FCF Margin

21.7%

Converts sales into free cash efficiently (21.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.09

Conservative — low debt load (0.09)

Covers its interest

Interest Cover

46.60x

Comfortably covers interest (46.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

61.8x

Expensive — P/E 61.8

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+30.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (61.8 → 31.0)

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Dividends

Dividend

Dividend Yield

0.44%

Small dividend — 0.44% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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