undamentalytics Newsletter

Life Sciences Tools & Services stocks

60 US-listed companies in life sciences tools & services, with $145.6bn of combined revenue in their latest fiscal years. Thermo Fisher Scientific is the largest ($44.6bn). The fastest grower with at least $100m of revenue in both years is Billiontoone, Inc., up 100.0%. The median company grew 3.9% with a net margin of 2.4%.

Companies60
Combined revenue$145.6bn
Median revenue growth3.9%
Median net margin2.4%
Median return on equity2.4%
#CompanyRevenueGrowthNet marginROEFiscal year
1 Thermo Fisher ScientificTMO $44.6bn 3.9% 15.0% 13.0% 2025
2 Danaher CorporationDHR $24.6bn 2.9% 14.7% 7.1% 2025
3 IQVIAIQV $16.3bn 5.9% 8.3% 21.6% 2025
4 Icon PLCICLR $8.3bn 0.8% 2.8% 2.5% 2025
5 Agilent TechnologiesA $6.9bn 6.7% 18.8% 20.6% 2025
6 Avantor, Inc.AVTR $6.6bn −3.4% −8.1% −9.2% 2025
7 Illumina, Inc.ILMN $4.3bn −0.7% 19.6% 33.4% 2025
8 Mettler ToledoMTD $4.0bn 4.0% 21.6% — 2025
9 Charles River LaboratoriesCRL $4.0bn −0.9% −3.6% −4.4% 2025
10 Bruker CorpBRKR $3.4bn 2.1% −0.3% −0.4% 2025
11 Waters CorporationWAT $3.2bn 7.0% 20.3% 29.3% 2025
12 Fortrea Holdings Inc.FTRE $2.7bn 1.0% −36.2% −102.4% 2025
13 Bio-rad Laboratories, Inc.BIO $2.6bn 0.7% 29.4% 10.8% 2025
14 Medpace Holdings, Inc.MEDP $2.5bn 20.0% 17.8% 70.2% 2025
15 Qiagen N.V.QGEN $2.1bn 5.7% 20.3% 11.6% 2025
16 Bio-TechneTECH $1.2bn −0.4% 15.0% 9.0% 2026
17 Sotera Health CoSHC $1.2bn 5.7% 6.7% 15.4% 2025
18 Repligen CorpRGEN $738m 16.4% 6.6% 2.4% 2025
19 Neogenomics IncNEO $727m 10.1% −14.9% −12.4% 2025
20 10x Genomics, Inc.TXG $643m 5.2% −6.8% −5.8% 2025
21 Azenta, Inc.AZTA $594m 3.6% −9.4% −3.2% 2025
22 Veracyte, Inc.VCYT $517m 16.0% 12.8% 5.3% 2025
23 Twist Bioscience CorpTWST $377m 20.3% −20.6% −16.4% 2025
24 Castle Biosciences IncCSTL $344m 3.7% −7.0% −5.2% 2025
25 Fulgent Genetics, Inc.FLGT $323m 13.8% −18.8% −5.4% 2025
26 Billiontoone, Inc.BLLN $305m 100.0% 2.4% 6.5% 2025
27 Schrodinger, Inc.SDGR $256m 23.3% −40.4% −26.3% 2025
28 Mesa Laboratories IncMLAB $249m 3.4% 2.7% 3.9% 2026
29 Cytek Biosciences, Inc.CTKB $201m 0.5% −33.0% −18.0% 2025
30 Maravai Lifesciences Holdings, Inc.MRVI $186m −28.3% −70.4% −48.6% 2025
31 Cryoport, Inc.CYRX $176m 12.4% 44.4% 17.3% 2025
32 Pacific Biosciences Of California, Inc.PACB $160m 3.9% −341.5% — 2025
33 Grail, Inc.GRAL $147m 17.2% −277.5% −16.1% 2025
34 Quanterix CorpQTRX $139m 1.1% −77.1% −34.2% 2025
35 Mdxhealth SAMDXH $108m 19.8% −31.1% — 2025
36 Biodesix IncBDSX $88m 24.1% −39.8% — 2025
37 Harvard Bioscience IncHBIO $87m −8.1% −65.5% −147.1% 2025
38 Standard Biotools Inc.LAB $85m −6.2% −87.8% −16.7% 2025
39 Burning Rock Biotech LtdBNR $75m 4.7% −10.3% −9.9% 2025
40 Codexis, Inc.CDXS $70m 18.6% −62.5% −74.9% 2025
41 Personalis, Inc.PSNL $70m −17.7% −116.7% −35.0% 2025
42 Exagen Inc.XGN $67m 19.7% −30.0% −147.8% 2025
43 Champions Oncology, Inc.CSBR $59m 4.4% −2.0% −30.5% 2026
44 908 Devices Inc.MASS $56m 17.7% 34.7% 15.1% 2025
45 Precipio, Inc.PRPO $53m 28.0% −0.7% −2.7% 2025
46 Alpha Teknova, Inc.TKNO $41m 7.4% −42.6% −22.8% 2025
47 Rapid Micro Biosystems, Inc.RPID $34m 19.7% −140.3% −86.8% 2025
48 Maxcyte, Inc.MXCT $33m −14.5% −135.1% −23.6% 2025
49 Bionano Genomics, Inc.BNGO $29m −7.4% −92.6% −66.2% 2025
50 Omniab, Inc.OABI $19m −29.3% −347.0% −23.4% 2025
51 Seer, Inc.SEER $17m 17.0% −444.0% −25.1% 2025
52 Bionexus Gene Lab CorpBGLC $7m −21.9% −40.2% −35.2% 2025
53 Quantum-si IncQSI $2m −20.3% −4160.1% −46.5% 2025
54 20/20 Biolabs, Inc.AIDX $2m 16.7% −182.8% — 2025
55 Ispecimen Inc.ISPC $2m −79.2% −543.7% — 2025
56 Astrotech CorpASTC $913,000 −8.7% −1580.2% −75.4% 2026
57 YD Bio LtdYDES $596,817 16.9% −1392.6% — 2025
58 Advanced Biomed Inc.ADVB $127,637 — 5231.3% 54.4% 2026
59 Sera Prognostics, Inc.SERA $81,000 5.2% −39417.3% −51.8% 2025
60 Aclarion, Inc.ACON $75,730 65.6% −9551.9% −104.8% 2025

Medians cover companies with at least $100m of revenue (growth: in both years). Growth is the latest fiscal year against the year before and includes acquisitions.

Other health care industries

Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.