Bio-Rad Laboratories, headquartered in Hercules, California, develops, manufactures, and sells products and solutions for the clinical diagnostics and life sciences markets. In clinical diagnostics (60% of sales), Bio-Rad sells test systems and specialized quality controls for clinical laboratories.
It is a $9.79B technology company. Revenue grew 1.4% over the last year, it keeps 9¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 44.3× earnings — in the most expensive third of its own history.
- Website
- bio-rad.com
- Location
- Hercules, CA
- Employees
- 7 450
- Sector
- Technology
- Founded
- 1965
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong health; Valuation, Growth, Profitability and Moat lag behind.
Valuation37
- P/E vs own history75th pct · 5/25
- FCF yield3.6% · 12/25
- P/S3.8x · 20/25
- EV/EBITDA223.5x · 0/25
Growth20
- Revenue CAGR-3.0% · 0/25
- Net income CAGR-35.0% · 0/25
- EPS CAGR ~5Y-26.1% · 0/25
- Fwd implied growth17.8% · 20/25
Profitability35
- ROIC11.2% · 12/25
- ROE3.1% · 5/25
- Net margin8.6% · 13/25
- Operating margin1.8% · 5/25
Health78
- Altman Z3.41 · 25/25
- Current ratio3.14 · 25/25
- Interest coverage0.1x · 3/25
- Net cash / debtNet cash · 25/25
Quality60
- Piotroski F5/9 · 15/25
- Beneish M-2.32 · 20/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 3.9% · 25/25
Moat38
- ROIC >12% years0/8 yrs · 0/25
- Median gross margin54.1% · 20/25
- FCF-positive years9/10 yrs · 18/25
- Worst-year net marginworst -129.4% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2021FinancialBest year on record$4.25B net income
- FY2018FinancialRevenue crossed $1B$2.29B for the year
- FY2018FinancialPositive free cash flow every year since8-year streak
- 2017AcquisitionBio-Rad acquired RainDance Technologies, a droplet-based PCR systems manufacturer
- FY2016FinancialFirst recorded profitable year$28.1M net income
- 2013AcquisitionBio-Rad purchased AbD Serotec, a division of MorphoSys AG
- 2011AcquisitionBio-Rad acquired a new technology, droplet digital PCR
- 2008MilestoneBio-Rad were notable for being the opening bell ringers at the New York Stock Exchange on 24 October, a…
- 1989AcquisitionBio-Rad purchased the British instrument-making firm, Vickers (1828 - 1999), apart from their defense products
- 1976AcquisitionBio-Rad acquired Environmental Chemical Specialties (ECS), a producer of human control serum
- 1965FoundedBioradiations began as a print magazine that was launched in 1965 and was printed until 2011 and replaced with the…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (51.9%)
- Net cash position after subtracting debt from cash
- Altman Z-Score 3.41 — low bankruptcy-risk zone
Watch-outs
- Thin interest coverage (0.1×)
- Loss-making in 3 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+1.4% YoY
- Profitable — makes more than it spends$222M TTM
- Profit growing — earnings are higher than last year-26.1% YoY
- Generates cash — cash left after running and investing$353M TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$9.79B market cap
- Not printing shares — share count not ballooning — you keep your slice-9.5% shares over ~5y
- Proven track record — years of profitability behind it7/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 3.4 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 44.3
Peer comparisonBio-Rad Laboratories, Inc.Class A vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| BIO this company | $9.8B | 44.3 | +1.4% | 8.6% | Strong |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: BIO vs NVDA · BIO vs AAPL · BIO vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/BIO
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Deeper analysis of BIO on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $366.16 · market cap $9.79B.