Bio-Techne key statistics and ratios

In fiscal 2026, Bio-Techne had return on equity of 9.0%, an operating margin of 20.7%, debt equal to 9.5% of equity and a current ratio of 4.55. 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.

Bio-Techne: financial ratios, annual
Fiscal year	2010Jun 2010	2011Jun 2011	2012Jun 2012	2013Jun 2013	2014Jun 2014	2015Jun 2015	2016Jun 2016	2017Jun 2017	2018Jun 2018	2019Jun 2019	2020Jun 2020	2021Jun 2021	2022Jun 2022	2023Jun 2023	2024Jun 2024	2025Jun 2025	2026Jun 2026
Gross margin	79.6%	77.6%	75.0%	74.4%	70.3%	67.9%	67.5%	66.5%	67.2%	66.3%	65.4%	68.0%	68.4%	67.7%	66.4%	64.8%	65.8%
Operating margin	58.1%	56.2%	52.8%	0.1%	44.7%	32.5%	30.2%	21.4%	21.2%	20.5%	21.3%	25.5%	26.8%	26.3%	17.8%	8.4%	20.7%
Net margin	40.8%	38.7%	35.7%	36.2%	31.0%	23.8%	20.9%	13.5%	19.6%	13.5%	31.0%	15.1%	24.6%	25.1%	14.5%	6.0%	15.0%
Free-cash-flow margin	39.6%	42.6%	38.4%	32.6%	34.4%	26.4%	25.5%	22.8%	23.2%	21.9%	20.8%	33.1%	25.4%	19.0%	20.4%	21.0%	21.7%
Return on equity	21.9%	20.6%	17.8%	15.9%	14.5%	13.1%	12.1%	8.3%	12.4%	8.6%	18.0%	9.5%	16.7%	15.6%	8.3%	3.7%	9.0%
Return on assets	21.2%	19.8%	16.8%	15.0%	13.5%	11.2%	9.5%	5.7%	8.0%	5.5%	11.7%	6.5%	11.9%	11.6%	6.3%	2.8%	7.1%
Asset turnover	0.52	0.51	0.47	0.41	0.44	0.47	0.46	0.42	0.41	0.41	0.38	0.43	0.49	0.46	0.43	0.46	0.47
Current ratio	11.81	12.67	9.69	12.76	17.79	6.24	4.69	2.57	5.01	4.05	4.88	3.35	3.44	4.84	3.87	3.46	4.55
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	8.6%	10.4%	36.2%	31.4%	43.3%	25.8%	21.8%	15.0%	17.8%	30.8%	18.0%	9.5%
Interest cover (operating income ÷ interest)	—	—	—	—	—	95.2x	86.2x	16.4x	13.4x	6.8x	8.2x	17.0x	26.2x	26.7x	13.1x	12.0x	26.2x
Effective tax rate	29.8%	31.9%	30.7%	29.9%	31.3%	30.1%	29.2%	32.0%	−0.2%	14.2%	17.1%	5.8%	12.7%	15.7%	9.5%	25.5%	24.4%
R&D as % of revenue	9.3%	9.0%	8.9%	9.4%	8.6%	9.0%	9.1%	9.5%	8.6%	8.7%	8.8%	7.6%	7.9%	8.1%	8.3%	8.2%	7.8%
SG&A as % of revenue	12.2%	12.4%	13.3%	14.0%	17.0%	26.4%	28.2%	35.6%	37.4%	37.0%	35.3%	34.9%	33.7%	33.3%	40.2%	48.3%	37.2%
Capital spending as % of revenue	1.7%	1.3%	1.9%	7.2%	3.9%	4.4%	3.4%	2.7%	3.3%	3.6%	7.0%	4.8%	4.1%	3.4%	5.4%	2.5%	2.4%
Free cash flow ÷ net income	97.1%	110.0%	107.5%	89.8%	110.8%	110.9%	121.8%	168.9%	118.5%	162.6%	66.9%	219.3%	103.1%	75.8%	140.5%	349.5%	144.8%
Dividends ÷ net income	35.0%	35.3%	36.5%	38.6%	40.9%	43.7%	45.6%	62.2%	38.0%	50.3%	21.3%	35.3%	18.4%	17.6%	30.0%	68.7%	27.5%
Dividends and buybacks ÷ free cash flow	50.0%	33.7%	53.5%	44.8%	36.9%	39.4%	37.4%	36.8%	32.1%	40.8%	64.5%	30.1%	75.3%	32.3%	55.3%	127.1%	34.8%

US$ thousands unless shown otherwise. Fiscal quarters.

Bio-Techne: financial ratios, quarterly
Quarter	2025 Q1Sept 2024	2025 Q2Dec 2024	2025 Q3Mar 2025	2025 Q4Jun 2025	2026 Q1Sept 2025	2026 Q2Dec 2025	2026 Q3Mar 2026	2026 Q4Jun 2026
Gross margin	63.2%	65.3%	67.9%	62.7%	65.6%	64.6%	66.9%	65.8%
Operating margin	13.8%	16.0%	12.2%	−7.5%	16.6%	18.4%	24.2%	23.1%
Net margin	11.6%	11.7%	7.1%	−5.6%	13.3%	12.8%	16.4%	17.0%
Free-cash-flow margin	18.9%	26.1%	9.8%	29.4%	7.8%	25.9%	24.9%	27.1%
Current ratio	4.56	3.94	3.71	3.46	4.22	4.54	4.49	4.55
Debt to equity	14.0%	14.4%	16.4%	18.0%	15.3%	12.9%	9.6%	9.5%
R&D as % of revenue	8.2%	8.4%	7.8%	8.2%	8.5%	7.8%	7.5%	7.5%
SG&A as % of revenue	41.2%	40.9%	47.8%	62.0%	40.6%	38.4%	35.1%	35.2%

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

6 of 6 checks passed · June 30, 2026

What it owns · $2.6bn

Short-term assets $744mLonger-term assets $1.8bn

What it owes, and who funded it · $2.3bn

Short-term liabilities $164mShareholders' equity $2.1bn

Short-term assets cover short-term liabilities $744m of assets due within a year against $164m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $265m of cash against $200m of debt.
Debt below 40% of shareholders' equity Debt is 9% of equity.
Debt burden no higher than five years ago Debt to equity moved from 16% to 9% over five years.
A year's operating cash flow covers at least 20% of debt $292m of operating cash flow against $200m of debt.
Operating profit covers interest at least five times over Operating income of $252m against $10m of interest.

From Bio-Techne'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

76 /100

Strong moat

How hard Bio-Techne's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 15 / 20

Cash operating profit has been a median 11.6% of total assets over 10 years.
Pricing power 20 / 20

Gross margin has been a median 66.5%, moving by 1.1 percentage points (standard deviation) across 10 years.
Durability 12 / 20

Operating margin has been a median 21.2%; its worst year was 8.4%.
Cash conversion 20 / 20

Free cash flow was positive in 10 of 10 years, at a median 21.8% of revenue.
Discipline 14 / 20

The diluted share count rose 0.9% over five years; stock-based pay has been a median 3.6% 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 (81 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

Head to head: SHC vs TECH RGEN vs TECH NEO vs TECH

More: Life Sciences Tools & Services stocks compared, Health Care sector, rankings of US companies

Figures from Bio-Techne'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 Bio-Techne.