TECH
Bio-Techne Corporation
TECH's fundamentals are strong: its operating margin rose 11 points to 20% and it turned 25% of its revenue into free cash flow. At 66x earnings, it's trading in line with its usual 63x. Analysts expect earnings growth.
TECH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
TECH's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
TECH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 34x | $72.84 | — |
| Cheap | 46x | $50.62 | -30% |
| Fair | 63x | $69.08 | -5.2% |
| Current | 66x | $72.84 | — |
| Expensive | 104x | $114 | +57% |
Historical ranges are pointers, not guarantees.
TECH's PE is in its fair range at 66x. If earnings grow as analysts expect, today's price would be 34x next year's earnings, in its cheap range.
TECH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for TECH, with profitability improving.
TECH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.12 | +93% |
| Q3 2026 | $1.10 | +124% |
| Q2 2026 | $1.16 | +152% |
| Q1 2026 | $0.69 | -17% |
| Q4 2025 | $0.51 | -49% |
| Q3 2025 | $0.49 | -48% |
| Q2 2025 | $0.46 | -56% |
| Q1 2025 | $0.83 | -34% |
| Q4 2024 | $1.00 | -28% |
TECH's earnings per share have fallen from their peak: $1.10 over the past year, against $1.79 in late 2022.
TECH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $299.7M | +4.6% |
| Q2 2026 | $321.2M | +1.3% |
| Q1 2026 | $311.4M | -1.5% |
| Q4 2025 | $295.9M | -0.4% |
| Q3 2025 | $286.6M | -1% |
| Q2 2025 | $317M | +3.5% |
| Q1 2025 | $316.2M | +4.2% |
| Q4 2024 | $297M | +9% |
TECH's revenue grew through 2023 and has held roughly level since: $300M last quarter, up 4.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | -4.4 points |
| Q2 2026 | 23% | +31 points |
| Q1 2026 | 24% | +12 points |
| Q4 2025 | 18% | +2.4 points |
| Q3 2025 | 17% | +2.8 points |
| Q2 2025 | -7.5% | -23 points |
| Q1 2025 | 12% | -9.8 points |
| Q4 2024 | 16% | +2 points |
TECH's operating margin was 12% last quarter, down 4.4 points from the same quarter a year ago, near the bottom of its range since 2019.
TECH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $67.2M | +202% |
| Q2 2026 | $86.9M | -6.8% |
| Q1 2026 | $77.6M | +150% |
| Q4 2025 | $76.5M | -1.3% |
| Q3 2025 | $22.2M | -59% |
| Q2 2025 | $93.3M | +62% |
| Q1 2025 | $31M | -52% |
| Q4 2024 | $77.5M | +14% |
TECH's free cash flow has been positive every quarter for six years: $308M over the past year, up 38% from the year before.
TECH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +919K shares |
| 1 year | +1% | +1.6M shares |
| 3 years | -2.5% | -4M shares |
| 5 years | -4.1% | -6.7M shares |
| Available history | -0.2% | -272K shares |
TECH has 158M diluted shares, up 1% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $41.7M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $24,000 |
| Q2 2025 | $100.1M |
| Q1 2025 | $100M |
| Q2 2024 | — |
| Q1 2024 | — |
TECH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.4x | Very low |
TECH has more cash than debt.
TECH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.9 | Neutral |
| Stochastic | 94.2 | Overbought |
TECH's weekly RSI is 66 (neutral) and its Stochastic is 94 (overbought).
TECH PE vs Healthcare Sector
| Metric | TECH | Sector median | Relative |
|---|---|---|---|
| PE | 66x | 26x | 156% above |
| PE % | 55 | 29 | 26 pts above |
TECH is trading at 66x earnings, a 156% premium to the Healthcare sector's median of 26x.
TECH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $72.6 | 0.3% above |
| 20 week MA | $72.3 | 0.8% above |
| 50 week MA | $63.3 | 15% above |
| 100 week MA | $61.0 | 20% above |
| 200 week MA | $67.7 | 7.5% above |
TECH has climbed back above all five of its weekly moving averages, and it's now 7.5% above its 200-week average.
TECH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.6 | $80.4 | +47% |
| 2021 | $80.4 | $123.7 | +54% |
| 2022 | $123.7 | $82.7 | -33% |
| 2023 | $82.7 | $77.2 | -6.7% |
| 2024 | $77.2 | $73.0 | -5.4% |
| 2025 | $73.0 | $59.2 | -19% |
| 2026 YTD | $59.2 | $72.8 | +23% |
TECH has finished four years in a row lower, and it's up 23% so far in 2026.