# Bio-Techne Corp. (TECH) — Stock CV

Bio-Techne Corp. is a $11.4B healthcare company. Revenue shrank 0.4% over the last year, it keeps 15¢ of every dollar of sales as profit, and its net debt equals ~0.1 years of free cash flow. It trades at 62.5× earnings.

> Based in Minnesota, Bio-Techne is a life sciences manufacturer supplying consumables and instruments for the pharma, biotech, academic, and diagnostic markets. It reports in two segments: protein sciences (about 75% of revenue) and diagnostics and genomics (25%).

## Identity

- **Ticker**: TECH
- **Sector**: Healthcare
- **Industry**: Biological Products, (No Diagnostic Substances)
- **Headquarters**: MINNEAPOLIS, MN
- **Employees**: 3 000
- **Website**: https://www.bio-techne.com
- **Market cap**: $11.4B
- **Last price**: $72.44
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $1.22B
- **Net income**: $182M
- **Free cash flow**: $263M
- **Net debt**: $23.6M
- **P/E**: 62.5
- **Revenue growth (YoY)**: -0.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 22 |
| Growth | 43 |
| Profitability | 64 |
| Health | 95 |
| Quality | 95 |
| Moat | 68 |

## Qualifications (beginner checklist) — 8 of 11 passed

- [ ] Revenue growing — -0.4% YoY
- [x] Profitable — $182M TTM
- [ ] Profit growing — -13.1% YoY
- [x] Generates cash — $263M TTM
- [x] Debt under control — ~0.1y of cash flow to repay
- [x] Established company — $11.4B market cap
- [x] Not printing shares — -3.0% shares over ~5y
- [x] Proven track record — 11/11 profitable years
- [x] Financially stable — Altman Z 15.9 — safe
- [x] Pays a dividend — yield 0.44%
- [ ] Valuation not extreme — P/E 62.5

## Experience (career milestones)

- **FY2023** — Best year on record: $285M net income
- **FY2022** — Revenue crossed $1B: $1.11B for the year
- **FY2022** — Became debt-free: cash now exceeds total debt
- **2021** — The company acquired Asuragen for $215 million plus up to an additional $105 million in milestone…
- **2019** — The company acquired B-Mogen
- **2018** — The company acquired Exosome Diagnostics for $250 million plus up to an additional $325 million in…
- **2017** — The company acquired Trevigen
- **2016** — Company acquired Advanced Cell Diagnostics for $250 million plus an additional $75 million in…
- **FY2016** — Profitable every year on record: 11 consecutive profitable years in our data
- **FY2016** — Positive free cash flow every year since: 11-year streak
- **2015** — The company agreed to acquire Cliniqa Corporation
- **2014** — The company changed its name to Bio-Techne
- **2014** — The company agreed to acquire Shanghai PrimeGene Bio-Tech Company (PrimeGene)
- **1985** — It merged into Techne Corporation and became a public company
- **1976** — The company was founded in 1976 by Roger C

## Strengths

- High gross margin (66.2%)
- Strong cash conversion — FCF is 21.7% of revenue
- Could repay net debt from ~0.1 years of free cash flow
- Interest covered 24.0× by operating earnings
- Piotroski F-Score 8/9 — fundamentally strong checklist

## Watch-outs

- Revenue shrinking 0.4% year over year

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $1.11B | $272M | $280M |
| FY2023 | $1.14B | $285M | $216M |
| FY2024 | $1.16B | $168M | $236M |
| FY2025 | $1.22B | $73.4M | $257M |
| FY2026 | $1.22B | $182M | $263M |

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Source: https://stockcv.com/TECH — derived from company filings; may be delayed or incomplete. Information, not investment advice.