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1. Company Snapshot

1.a. Company Description

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide.The company operates through two segments, Protein Sciences, and Diagnostics and Genomics.The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.


This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids.The Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications; and sells products for genetic carrier screening, oncology diagnostics, molecular controls, and research, as well as instruments and process control products for hematology, blood chemistry and gases, and coagulation controls and reagents used in various diagnostic applications.It offers its products under R&D Systems, Tocris Biosciences, Novus Biologicals, ProteinSimple, Advanced Cell Diagnostics, Exosome Diagnostics, and Asuragen brands.


The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014.Bio-Techne Corporation was founded in 1976 and is headquartered in Minneapolis, Minnesota.

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1.b. Last Insights on TECH

Bio-Techne Corporation's recent performance was positively driven by several factors. The company's Q1 earnings met expectations, with a quarterly earnings per share of $0.42, in line with the Zacks Consensus Estimate. Additionally, the company has been assigned a consensus recommendation of "Moderate Buy" from sixteen analysts, with nine issuing a buy rating. Bio-Techne also continues to drive growth through acquisitions, international strength, and innovation. The company has a strong presence in the research and clinical diagnostic communities, providing innovative tools and bioactive reagents. A quarterly dividend of $0.08 per share was declared, showcasing the company's commitment to shareholders.

1.c. Company Highlights

2. Bio-Techne's Q1 FY2026 Results: A Mixed Bag

Bio-Techne reported revenue of $286.6 million for the first quarter of fiscal 2026, a decline of 1% year-over-year on both an organic and reported basis. Adjusted EPS was $0.42, flat year-over-year. The company's adjusted operating margin reached 29.9%, up 90 basis points year-over-year, driven by operational efficiency and cost initiatives. The reported EPS of $0.42 met analysts' estimates. Revenue decline was primarily due to clinical stage timing from large customers in the cell therapy business and softness in biotech funding.

Publication Date: Nov -10

📋 Highlights
  • Q1 Revenue Decline:: Bio-Techne reported $286.6M revenue, down 1% YoY on both organic and reported bases due to clinical timing and biotech funding softness.
  • Adjusted EPS Stability:: Adjusted EPS remained flat at $0.42 YoY, reflecting margin resilience despite revenue challenges.
  • Segment Growth:: ProteinSimple (China growth) and Diagnostics/Spatial Biology (mid-single-digit growth in RNAscope) drove performance.
  • Margin Expansion:: Adjusted operating margin rose to 29.9%, up 90 bps YoY, with 100 bps expansion target intact for FY 2026.
  • Recovery Outlook:: Organic growth expected to return to positive in H2 FY 2026, driven by biotech recovery and stabilization in academic markets.

Segment Performance

The ProteinSimple instrument franchise continued to build momentum, with China delivering its second consecutive quarter of growth. The Diagnostics and Spatial Biology segment saw low single-digit growth in RNAscope and mid-single-digit growth in Diagnostics. The company's GMP protein business is experiencing a temporary slowdown due to the Fast Track designations, but the underlying momentum remains positive.

Guidance and Outlook

Bio-Techne anticipates overall Q2 organic growth to be consistent with Q1, despite a headwind from cell therapy timing impact, and expects improving conditions for biopharma with recent large pharma pricing and onshoring agreements. The company expects to return to positive organic growth in the second half of the fiscal year, driven by a gradual improvement in end markets and a recovering biotech sector. Excluding the two cell therapy customers, the company's organic growth would have been 1% in Q1 and is expected to accelerate to 3% in Q2.

Valuation and Growth Prospects

With a P/E Ratio of 114.45 and P/S Ratio of 7.4, the market is pricing in high expectations for the company's future growth. Analysts estimate next year's revenue growth at 1.0%. The company's focus on enabling scalable and affordable treatments in the cell and gene therapy market is expected to drive growth. The company's return on equity (ROE) is 3.9%, and return on invested capital (ROIC) is 3.39%, indicating room for improvement in capital allocation.

Operational Efficiency

The company remains focused on balancing growth investments with operational efficiency, targeting at least 100 basis points of margin expansion for the full fiscal year. The company has accelerated some streamlining activities and is reinvesting in growth drivers. This quarter's results reflect some timing benefits, and similar performance is expected going forward.

3. NewsRoom

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Bio-Techne Corporation (TECH) Presents at Citi Annual Global Healthcare Conference 2025 Transcript

Dec -03

Source: seekingalpha.com

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Bio-Techne Corporation (TECH) Presents at Evercore 8th Annual Healthcare Conference Transcript

Dec -02

Source: seekingalpha.com

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CMB.TECH NV (CMBT) Q3 2025 Earnings Call Transcript

Nov -26

Source: seekingalpha.com

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CMB.TECH announces Q3 2025 results

Nov -26

Source: globenewswire.com

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Bio-Techne to Present at Upcoming Investor Conferences

Nov -25

Source: prnewswire.com

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Bio-Techne Corporation (TECH) Presents at Jefferies London Healthcare Conference 2025 Transcript

Nov -20

Source: seekingalpha.com

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Bio-Techne Corporation (TECH) Presents at Stephens Annual Investment Conference 2025 Transcript

Nov -18

Source: seekingalpha.com

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Bio-Techne Licenses AI-Designed NovoBody™ Duo Molecules from Monod Bio to Expand Recombinant Protein Portfolio

Nov -18

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.58%)

6. Segments

Protein Sciences

Expected Growth: 6.5%

Protein Sciences' 6.5% growth is driven by increasing demand for biologics, rising adoption of single-use technologies, and growing investments in cell and gene therapy research. Additionally, Bio-Techne's strategic acquisitions and expansion into emerging markets have contributed to the segment's growth.

Diagnostics and Genomics

Expected Growth: 6.8%

Bio-Techne's Diagnostics and Genomics segment growth of 6.8% is driven by increasing demand for genetic testing, advancements in precision medicine, and growing adoption of molecular diagnostics in clinical settings. Additionally, the company's strategic acquisitions and investments in emerging technologies, such as next-generation sequencing, have expanded its product offerings and enhanced its market position.

Intersegment

Expected Growth: 5.5%

Bio-Techne Corporation's 5.5% intersegment growth is driven by increasing demand for its life science and diagnostic products, particularly in the protein sciences and diagnostics segments. Strong sales of its ExoDx Prostate IntelliScore (EPI) test and growing adoption of its NanoString GeoMx Digital Spatial Profiler also contribute to this growth.

7. Detailed Products

ProteinSimple

ProteinSimple is a line of protein analysis instruments and consumables that provide researchers with a comprehensive understanding of protein function and activity.

R&D Systems

R&D Systems is a leading provider of antibodies, assays, and reagents for life science research, offering a wide range of products for cell biology, immunology, and molecular biology applications.

Novus Biologicals

Novus Biologicals offers a comprehensive portfolio of antibodies, proteins, and other reagents for life science research, with a focus on emerging areas such as stem cell biology and gene editing.

Tocris Bioscience

Tocris Bioscience is a leading provider of small molecules and biochemicals for life science research, offering a wide range of products for pharmacology, neuroscience, and cancer research applications.

Advanced Cell Diagnostics (ACD)

ACD is a pioneer in the field of RNA in situ hybridization, offering a range of products and services for the detection and analysis of RNA biomarkers in tissue samples.

Exosome Diagnostics

Exosome Diagnostics is a leading provider of exosome-based diagnostics and research tools, enabling the detection and analysis of exosomal RNA and protein biomarkers in biofluids.

8. Bio-Techne Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Bio-Techne Corporation operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the ongoing research and development in the biotechnology industry.

Bargaining Power Of Customers

Bio-Techne Corporation's customers are primarily researchers and scientists who rely on the company's products for their research and development. The bargaining power of customers is low due to the specialized nature of the products.

Bargaining Power Of Suppliers

Bio-Techne Corporation relies on a few key suppliers for raw materials and equipment. The bargaining power of suppliers is medium due to the availability of alternative suppliers in the market.

Threat Of New Entrants

The biotechnology industry has high barriers to entry, including significant research and development costs, regulatory hurdles, and the need for specialized expertise. The threat of new entrants is low due to these barriers.

Intensity Of Rivalry

The biotechnology industry is highly competitive, with many established players and new entrants vying for market share. The intensity of rivalry is high due to the competitive nature of the industry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 18.79%
Debt Cost 3.95%
Equity Weight 81.21%
Equity Cost 10.06%
WACC 8.92%
Leverage 23.14%

11. Quality Control: Bio-Techne Corporation passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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BridgeBio Pharma

A-Score: 5.3/10

Value: 8.0

Growth: 5.1

Quality: 5.9

Yield: 0.0

Momentum: 10.0

Volatility: 2.7

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Alnylam Pharmaceuticals

A-Score: 4.6/10

Value: 0.0

Growth: 7.8

Quality: 5.2

Yield: 0.0

Momentum: 9.5

Volatility: 5.3

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Insmed

A-Score: 4.3/10

Value: 6.0

Growth: 3.3

Quality: 4.1

Yield: 0.0

Momentum: 10.0

Volatility: 2.7

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ADMA Biologics

A-Score: 4.2/10

Value: 1.5

Growth: 8.4

Quality: 8.5

Yield: 0.0

Momentum: 3.0

Volatility: 4.0

1-Year Total Return ->

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Bio-Techne

A-Score: 3.2/10

Value: 0.9

Growth: 4.2

Quality: 6.3

Yield: 0.0

Momentum: 2.5

Volatility: 5.3

1-Year Total Return ->

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IDEAYA Biosciences

A-Score: 3.2/10

Value: 6.6

Growth: 2.9

Quality: 5.1

Yield: 0.0

Momentum: 1.5

Volatility: 3.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

62.58$

Current Price

62.58$

Potential

-0.00%

Expected Cash-Flows