Bio-Techne Corporation (TECH) — Fundamental Analysis & Key Financial Ratios

Kaplio's reading: Bio-Techne Corporation

Updated on October 4, 2026 · accounts published on August 12, 2026

Reading of October 4, 2026: A cash-generating business with flat sales and modest returns on capital

Bio-Techne is valued at 42.7× its fiscal 2026 cash, far above the 1.5× to 3.0× range seen as reasonable in biotech, after a 31 % rise in 12 months.

• Is Bio-Techne expensive or cheap? Bio-Techne is valued at 42.7× its fiscal 2026 cash, well above the 1.5× to 3.0× range considered reasonable in biotech.
• How is the business doing? Revenue fell 0.4 % over the last 12 months, and ROIC topped 10 % in only 2 of the last 10 fiscal years.
• How strong is the balance sheet? Net debt is just $0.19 per share in fiscal 2026, 0.3 % of the share price, with an Altman Z-score of 13.2.
• How many months of cash does Bio-Techne have left? It is not burning cash: operating cash flow was a positive $1.87 per share in fiscal 2026, so the runway question does not apply.
• What to expect from the next earnings? Bio-Techne reports on November 4, 2026, with analysts expecting EPS of $0.46; 12 of 26 rate it a buy and none a sell.

Is Bio-Techne expensive or cheap?

The stock has risen 31 % over the last 12 months and now trades less than 1 % below its 52-week high of $72.61, well above the 52-week low of $43.30. Price to book stands at 5.4× over the last 12 months. Measured against cash, the market value is 42.7× the fiscal 2026 balance, far outside the 1.5× to 3.0× band the sector treats as reasonable. Over the past decade the P/E has ranged from 31.7× to 148.7×, so investors have long paid a premium for this business. After the rebound, these cash-based measures leave little margin of safety.

How is the business doing?

Sales over the last 12 months were essentially flat, down 0.4 % year on year, so the stock's 31 % gain has not come from top-line growth. Returns on capital look weaker than the share price does: ROIC exceeded 10 % in just 2 of the 10 fiscal years from 2017 to 2026, with a low of 3.2 % in fiscal 2025. Fiscal 2026 R&D spending equals 0.8 % of the current market value, against the 10 % level biotech investors read as a sign of an active pipeline. The business generates cash, but it is not compounding capital at a high rate.

How strong is the balance sheet?

Debt to equity is 0.14 over the last 12 months and the current ratio is 4.55, so short-term assets cover short-term obligations more than four times. The Altman Z-score of 13.2 sits deep in the safe zone. In fiscal 2026, debt of $1.89 per share was almost matched by cash of $1.70, leaving net debt of $0.19, equal to 0.3 % of the current price. Debt to cash of 1.1× is borderline by biotech standards, which consider up to 1.0× manageable. Income for shareholders is small: the dividend yield is 0.4 % over the last 12 months.

How many months of cash does Bio-Techne have left?

Most small biotech companies lose money, which makes the P/E meaningless across much of the sector. Investors look at cash, cash burn and the pipeline instead. On that lens, Bio-Techne passes the first test: operating cash flow was $1.87 per share in fiscal 2026, so it is not using up its cash. Debt to cash of 1.1× is borderline. It falls short on the other two measures. R&D equals 0.8 % of market value, far below the 10 % mark of an active pipeline, and the company is worth 42.7× its cash against a reasonable range of 1.5× to 3.0×. By biotech yardsticks, it generates cash but is priced far above its cash pile.

What to expect from the next earnings?

Bio-Techne has beaten EPS estimates in 6 of its last 8 quarters, although the latest beat was marginal: on August 12, 2026 it reported $0.52 against $0.52 expected, a 0.2 % surprise. For the quarter due on November 4, 2026, the consensus is $0.46, below that last result. Longer-term expectations are stable: the 2027 EPS consensus moved only from $2.06 to $2.05 over the last 18 days across 7 analysts, and the 2027 revenue estimate barely changed. Of 26 analysts, 14 say hold and 12 say buy, with no sell ratings. The figure to watch is whether sales return to growth.

How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.