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Bioventus Inc. key statistics and ratios

In fiscal 2025, Bioventus Inc. had return on equity of 13.7%, an operating margin of 9.5%, debt equal to 159.7% of equity and a current ratio of 1.70. 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 year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin73.3%72.7%70.3%64.6%64.1%67.7%68.3%68.7%
Operating margin9.2%6.6%2.8%−32.7%−16.0%−2.7%9.5%9.7%
Net margin2.0%5.1%4.5%−31.0%−30.5%−6.3%4.0%9.8%
Free-cash-flow margin11.3%17.2%2.2%−2.9%1.6%6.6%12.7%14.5%
Return on equity——4.2%−40.5%−62.6%−22.5%13.7%27.0%
Return on assets—3.3%2.3%−12.2%−14.3%−4.7%3.2%8.4%
Asset turnover—0.650.500.390.470.750.800.86
Current ratio—1.731.450.901.531.311.701.68
Debt to equity——77.9%128.5%227.5%226.9%159.7%95.6%
Effective tax rate16.3%7.5%−20.7%———−6.1%—
R&D as % of revenue3.3%3.5%4.4%4.7%2.6%2.4%2.1%2.1%
SG&A as % of revenue58.4%60.1%59.0%64.9%59.3%60.0%55.3%55.8%
Capital spending as % of revenue0.7%5.2%3.1%0.3%1.4%0.2%0.5%0.4%
Free cash flow ÷ net income560.1%336.5%48.9%———317.2%148.3%

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

3 of 6 checks passed · September 26, 2026
What it owns · $673m
Short-term assets $266mLonger-term assets $408m
What it owes, and who funded it · $622m
Short-term liabilities $158mLonger-term liabilities $224mShareholders' equity $240m
  • Short-term assets cover short-term liabilities $266m of assets due within a year against $158m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $266m short-term assets against $224m of longer-dated liabilities.
  • More cash than debt $31m of cash against $230m of debt.
  • Debt below 40% of shareholders' equity Debt is 96% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 77% to 96% over five years.
  • A year's operating cash flow covers at least 20% of debt $87m of operating cash flow against $230m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Bioventus Inc.'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

43 /100

Weak moat

How hard Bioventus's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Cash operating profit has been a median 5.1% of total assets over 5 years.

  • Pricing power 19 / 20

    Gross margin has been a median 67.4%, moving by 2.8 percentage points (standard deviation) across 6 years.

  • Durability 0 / 20

    Operating margin has been a median 0.7%; its worst year was -29.9%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 5 of 6 years, at a median 4.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

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

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Figures from Bioventus Inc.'s SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bioventus Inc.