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Bio-Techne Corp TECH

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Stock XNAS Rating as of
$77.19 −0.06 (0.08%)
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Company Report

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Bio-Techne: Relaunching Coverage With Narrow Moat Rating and $87 Fair Value Estimate

Jay Lee

We are relaunching coverage of Bio-Techne with a narrow moat rating and a fair value estimate of $87 per share. The firm is a leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets. We think it has attractive long-term growth prospects, with the potential for low-double-digit growth starting in fiscal 2025, and has demonstrated strong operating profit margins and free cash flow over the past 10 years. We view the shares as fairly valued currently.

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Price vs Fair Value

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TECH is trading at a 718% premium.
Price
$77.19
Fair Value
$72.00
Uncertainty
High
1-Star Price
$723.31
5-Star Price
$27.40
Economic Moat
Qygps
Capital Allocation
Vwxjjqmmkp

Bulls Say, Bears Say

Bulls

The firm's reputation for excellent proteomic reagents and instruments allow it to generate high profit margins and strong cash flow.

Bears

Bio-Techne's long-term strategy relies on acquisitions, and the company may have difficulty finding suitable targets due to high valuations or scarcity. Additionally, it may fail to successfully integrate and scale up an acquired business.

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Trading Information

Previous Close Price
$77.25
Day Range
$76.17–78.82
52-Week Range
$51.79–89.91
Bid/Ask
$74.76 / $77.99
Market Cap
$12.16 Bil
Volume/Avg
1.3 Mil / 1.1 Mil

Key Statistics

Price/Earnings (Normalized)
41.98
Price/Sales
10.78
Dividend Yield (Trailing)
0.41%
Dividend Yield (Forward)
0.41%
Total Yield
1.07%

Company Profile

Based in Minnesota, Bio-Techne is a life sciences manufacturer supplying consumables and instruments for the pharma, biotech, academic, and diagnostic markets. The company reports in two segments, protein sciences (75% of revenue), and diagnostics and genomics (25%). The protein-focused segment makes equipment and associated consumables for protein characterization and analysis and sells antibodies for research and clinical purposes. In diagnostics, Bio-Techne provides controls and calibrators for diagnostic manufacturers and has a portfolio of diagnostic oncology assays. The United States accounts for about 55% of revenue, and the firm also has operations in EMEA (20% of sales), the U.K. (5%), and APAC (15%), with the rest of the world accounting for the remaining 5%.
Sector
Healthcare
Industry
Biotechnology
Stock Style Box
Mid Core
Total Number of Employees
3,050
Website
https://www.bio-techne.com

Competitors

Valuation

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Metric
TECH
BIO
TMO
Price/Earnings (Normalized)
 41.9823.5426.27
Price/Book Value
 6.040.894.76
Price/Sales
 10.783.135.17
Price/Cash Flow
 39.1911.9125.34
Price/Earnings
TECH
BIO
TMO

Financial Strength

Metric
TECH
BIO
TMO
Quick Ratio
 2.494.481.19
Current Ratio
 4.086.571.70
Interest Coverage
 14.52−9.704.83
Quick Ratio
TECH
BIO
TMO

Profitability

Metric
TECH
BIO
TMO
Return on Assets (Normalized)
 10.95%2.73%8.69%
Return on Equity (Normalized)
 14.98%3.84%18.71%
Return on Invested Capital (Normalized)
 12.39%2.95%10.97%
Return on Assets
TECH
BIO
TMO
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