A Business at a Glance
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Bio-Rad Laboratories, Inc. (referred to in this report as “Bio-Rad,” “we,” “us,” “the Company,” and “our”) is a multinational life science and clinical diagnostics company that develops, manufactures, and markets a broad portfolio of instruments, systems, reagents, and consumables. We have direct operations in over 36 countries outside the United States through subsidiaries focused on sales, customer service, and product distribution. In certain locations outside and within these countries, our sales efforts are supplemented by distributors and agents. Description of Business Business Segments Bio-Rad operates in two industry segments designated as Life Science and Clinical Diagnostics. Both segments operate worldwide. Our Life Science segment and our Clinical Diagnostics segment generated approximately 40% and 60%, respectively, of our consolidated net sales for the year ended December 31, 2025.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.6B | 2.6B | 2.6B | 2.7B | 2.8B | 2.9B |
| Net Income | 760M | 760M | -1.8B | -637M | -3.6B | 4.3B |
| EPS | $27.85 | $27.85 | $-65.36 | $-21.82 | $-121.79 | $140.83 |
| Free Cash Flow | 375M | 375M | 290M | 218M | 82M | 536M |
| ROIC | 8.8% | 9.3% | 3.6% | 3.8% | 4.3% | 36.1% |
| Gross Margin | 51.9% | 51.9% | 53.7% | 53.4% | 55.9% | 56.1% |
| Debt/Equity | 0.21 | 0.21 | 0.24 | 0.18 | 0.17 | 0.03 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 47M | 47M | 269M | 338M | 483M | 500M |
| Operating Margin | 1.8% | 1.8% | 10.5% | 12.6% | 17.2% | 17.1% |
| ROE | 10.2% | 10.8% | -24.1% | -6.9% | -31.1% | 36.1% |
| Shares Outstanding | 27M | 27M | 28M | 29M | 30M | 30M |
BIO-RAD LABORATORIES, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
BIO-RAD LABORATORIES, INC. trades at 10.5x trailing earnings, compared to its 15-year median P/E of 8.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 17.1x vs a median of 39.2x. The company's 5-year average ROIC is 11.4% with a gross margin of 54.2%. Total shareholder yield (buybacks) is 3.7%. At current prices, the estimated annualized return to fair value is +5.5%.
BIO-RAD LABORATORIES, INC. (BIO) has a current P/E ratio of 10.5, compared to its historical median P/E of 8.6. The stock is currently considered Fair based on its historical valuation range.
BIO-RAD LABORATORIES, INC. (BIO) has a 5-year average return on invested capital (ROIC) of 11.4%. This indicates solid capital allocation.
BIO-RAD LABORATORIES, INC. (BIO) has a market capitalization of $8.0B. It is classified as a mid-cap stock.
BIO-RAD LABORATORIES, INC. (BIO) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 3.71%.
Based on historical P/E analysis, BIO-RAD LABORATORIES, INC. (BIO) appears fair. The current P/E of 10.5 is 22% above its historical median of 8.6. The estimated fair value CAGR (P/E method) is 72.7%.
BIO-RAD LABORATORIES, INC. (BIO) operates in the Laboratory Analytical Instruments industry, within the Technology sector.
BIO-RAD LABORATORIES, INC. (BIO) reported annual revenue of $2.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
BIO-RAD LABORATORIES, INC. (BIO) has a net profit margin of 29.4%. This is a strong margin indicating high profitability.
BIO-RAD LABORATORIES, INC. (BIO) generated $375 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BIO-RAD LABORATORIES, INC. (BIO) has a debt-to-equity ratio of 0.21. This indicates a conservatively financed balance sheet.
BIO-RAD LABORATORIES, INC. (BIO) reported earnings per share (EPS) of $27.85 in its most recent fiscal year.
BIO-RAD LABORATORIES, INC. (BIO) has a return on equity (ROE) of 10.8%. This indicates moderate shareholder returns.
BIO-RAD LABORATORIES, INC. (BIO) has a 5-year average gross margin of 54.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for BIO-RAD LABORATORIES, INC. (BIO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BIO-RAD LABORATORIES, INC. (BIO) has a book value per share of $273.17, based on its most recent annual SEC filing.