Bio-Techne Corporation (TECH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-69.1%

$22.48

vs $72.68 price

Levered DCF

$21.61

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

15.98

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	60.38×	109.47×	66.93×	45.1×	50.09×	123.7×	44.01×	81.75×
P/B	5.23×	4.22×	5.46×	6.52×	7.99×	11.16×	7.3×	6.78×
P/S	9.07×	6.64×	9.74×	11.29×	12.3×	18.74×	13.66×	11.07×
EV / EBITDA	32.15×	38.67×	36.92×	28.67×	33.23×	70.71×	27.42×	39.22×
Gross margin	65.8%	64.8%	66.4%	67.7%	68.4%	68.0%	65.4%	66.3%
Operating margin	20.7%	8.4%	17.8%	26.3%	26.8%	25.5%	21.3%	17.6%
Net margin	15.0%	6.0%	14.5%	25.1%	24.6%	15.1%	31.0%	13.5%
Current ratio	4.55×	3.46×	3.87×	4.84×	3.44×	3.35×	4.88×	4.05×
Debt / equity	0.14×	0.23×	0.2×	0.23×	0.19×	0.27×	0.31×	0.43×
Interest coverage	46.6×	12.02×	13.13×	26.66×	26.23×	17.01×	8.2×	5.79×
Dividend yield	0.5%	0.6%	0.4%	0.4%	0.4%	0.3%	0.5%	0.6%
Payout ratio	27.4%	68.7%	30.0%	17.6%	18.4%	35.3%	21.3%	50.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.6%	3.8%	8.1%	14.5%	16.0%	9.0%	16.6%	8.2%
Return on invested capital	7.5%	3.2%	7.3%	10.0%	12.1%	10.5%	6.7%	6.0%
Return on assets	6.8%	2.9%	6.2%	10.8%	11.9%	6.2%	11.3%	5.1%
Free cash flow yield	2.4%	3.2%	2.1%	1.7%	2.1%	1.8%	1.5%	2.0%
Earnings yield	1.7%	0.9%	1.5%	2.2%	2.0%	0.8%	2.3%	1.2%
Enterprise value	$11B	$8.4B	$11.6B	$13.1B	$13.7B	$17.7B	$10.4B	$8.3B
Net debt / EBITDA	0.07×	1.3×	0.86×	0.6×	0.37×	0.89×	0.76×	1.91×
Cash conversion cycle (days)	215	201	209	215	176	164	175	184