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Biote Corp. key statistics and ratios

In fiscal 2025, Biote Corp. had an operating margin of 18.5% and a current ratio of 1.22. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin24.8%−36.8%15.5%16.0%18.5%8.0%
Net margin8.0%−0.6%1.8%1.6%14.1%3.2%
Free-cash-flow margin23.2%−5.8%14.3%19.7%15.7%10.8%
Return on assets20.5%−1.2%2.5%2.3%23.5%5.6%
Asset turnover2.571.991.391.421.671.75
Current ratio2.725.395.511.321.221.43
Debt to equity909.1%—————
Effective tax rate0.9%22.7%—95.5%15.9%31.0%
SG&A as % of revenue35.2%103.7%53.3%54.5%53.0%60.5%
Capital spending as % of revenue1.0%0.2%0.2%3.3%2.6%2.4%
Free cash flow ÷ net income290.4%—799.9%>999%111.6%339.3%
Dividends ÷ net income102.6%—262.2%150.3%6.4%19.9%
Dividends and buybacks ÷ free cash flow35.3%—32.8%26.6%16.9%5.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 4 checks passed · June 30, 2026
What it owns · $102m
Short-term assets $43mLonger-term assets $59m
What it owes, and who funded it · $160m
Short-term liabilities $30mLonger-term liabilities $130mShareholders' equity $-66m
  • Short-term assets cover short-term liabilities $43m of assets due within a year against $30m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $43m short-term assets against $130m of longer-dated liabilities.
  • More cash than debt $11m of cash against $122m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $24m of operating cash flow against $122m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Biote Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

33 /100

Weak moat

How hard Biote's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Net income has been a median 4.3% of total assets over 5 years.

  • Durability 4 / 20

    Operating margin has been a median 15.9%; its worst year was -40.2%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 4 of 5 years, at a median 11.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (38 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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More: Pharmaceuticals stocks compared, Health Care sector, rankings of US companies

Figures from Biote Corp.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Biote Corp.