NASDAQ · TECH

Bio-Techne Corporation

Healthcare · Biotechnology

$72.27▲ 0.21% ($0.15)at close

After hours$72.37▲ 0.14%7:30 PM ET

52-week

$43.20$72.62

What the market price implies · Reverse DCF

To support a price of $72.27, this model requires revenue to grow by 25.16%/yr over the next 10 years, compounded annually.

Historical revenue grew by 2.39%/yr over the past 4 years. The required annual growth rate is 22.78 percentage points higher.

Selected forecast · Base scenario

1.21%/yr · actual 10-year annualized revenue growth

Year 1 growth: 1.9%

Market-implied · Base operating assumptions + edited margins

25.16%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$72.27

Estimated value / share

$15.61

Base scenario

This estimate is 78.4% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 1.9% · Ending margin 20.73% · Discount rate 11.78%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 14, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 15, 2026, 7:26 AM UTC · provider

Why this method?

FCFF is positive, but the series is too unstable to anchor a direct cash-flow CAGR and the business still fails the steady-state comparability checks. Use a revenue-and-margin transition model instead of normalizing and compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 27 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 30.5%.

Do you have 5+ years of positive FCFF history? 27 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? Operating margin moved 18.4 percentage points across the last five years, above the 10.0-point stability threshold, so steady-state FCFF is not a reliable anchor yet.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveModerate confidence

1Y Price: 35.54%Revenue (TTM): -0.38%FCF (TTM): 2.6%P/FCF: 40th pct

What changed

The stock rose 35.54% over the last year. Revenue declined 0.38% over the trailing twelve months. Operating margin moved from 8.38% to 20.73%. Free cash flow grew 2.6% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 40th percentile of their historical P/FCF range.

What would invalidate this read

Operating margin is at 20.73%. Revenue declined 0.38% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.

Performance

Return analysis

Company profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets worldwide.

CEOKim Kelderman

SectorHealthcare

IndustryBiotechnology

Employees3,000

IPO dateFeb 9, 1989

https://www.bio-techne.com

Market multiples

Forward P/E—

EV/EBITDA32.15

Enterprise value$11.04B

Stock splits

Nov 30, 2022↑ Forward

Every 1 shares became 4

+300%

Dec 4, 2000↑ Forward

Every 1 shares became 2

+100%

Nov 18, 1997↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth1.33%

Gross margin (FY2026)65.77%▲1.0ppvs FY2025

Operating margin (FY2026)20.73%▲12.3ppvs FY2025

ROE9.03%▲5.4ppYoY

Analyst consensus

RatingHold

Target price$65.78▼8.98%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est $0.46 · Revenue est $292.41M

View

Dividends

$0.32/shareQuarterlyDividend Achiever · 17yrSafe

TECH pays a dividend with a 0.44% dividend yield, 17 consecutive years of growth, covered 5.3× by free cash flow.

Dividend Yield

0.44%

Annual Div / Share

$0.32

5yr CAGR

+0%

Payout Ratio

27.45%

Safe

Dividend Growth Rate

3yr CAGR

+0%

5yr CAGR

+0%

10yr CAGR

+0%

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$0.32+0.0%

2025$0.32+0.0%

2024$0.32+0.0%

2023$0.32+0.0%

2022$0.32+0.0%

2021$0.32+0.0%

2020$0.32+0.0%

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$4/yr

$0/mo

In 5 yrs

$4/yr

$0/mo

In 10 yrs

$4/yr

$0/mo

Today	In 5 yrs	In 10 yrs
$4/yr $0/mo	$4/yr $0/mo	$4/yr $0/mo

Analysis

Dividend Strengths

Dividend Achiever

TECH has raised its dividend for 17 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 5.3× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NASDAQ · TECH

Bio-Techne Corporation

Healthcare · Biotechnology

$72.27▲ 0.21% ($0.15)at close

After hours$72.37▲ 0.14%7:30 PM ET

52-week

$43.20$72.62

What the market price implies · Reverse DCF

To support a price of $72.27, this model requires revenue to grow by 25.16%/yr over the next 10 years, compounded annually.

Historical revenue grew by 2.39%/yr over the past 4 years. The required annual growth rate is 22.78 percentage points higher.

Selected forecast · Base scenario

1.21%/yr · actual 10-year annualized revenue growth

Year 1 growth: 1.9%

Market-implied · Base operating assumptions + edited margins

25.16%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$72.27

Estimated value / share

$15.61

Base scenario

This estimate is 78.4% below the price used.

USD · TTM ending 2026-06-30

Year 1 growth 1.9% · Ending margin 20.73% · Discount rate 11.78%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 14, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 15, 2026, 7:26 AM UTC · provider

Why this method?

Is FCFF positive and has it been for 3+ consecutive years? 27 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 30.5%.

Do you have 5+ years of positive FCFF history? 27 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveModerate confidence

1Y Price: 35.54%Revenue (TTM): -0.38%FCF (TTM): 2.6%P/FCF: 40th pct

What changed

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 40th percentile of their historical P/FCF range.

What would invalidate this read

Performance

Return analysis

Company profile

CEOKim Kelderman

SectorHealthcare

IndustryBiotechnology

Employees3,000

IPO dateFeb 9, 1989

https://www.bio-techne.com

Market multiples

Forward P/E—

EV/EBITDA32.15

Enterprise value$11.04B

Stock splits

Nov 30, 2022↑ Forward

Every 1 shares became 4

+300%

Dec 4, 2000↑ Forward

Every 1 shares became 2

+100%

Nov 18, 1997↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth1.33%

Gross margin (FY2026)65.77%▲1.0ppvs FY2025

Operating margin (FY2026)20.73%▲12.3ppvs FY2025

ROE9.03%▲5.4ppYoY

Analyst consensus

RatingHold

Target price$65.78▼8.98%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est $0.46 · Revenue est $292.41M

View

Dividends

$0.32/shareQuarterlyDividend Achiever · 17yrSafe

TECH pays a dividend with a 0.44% dividend yield, 17 consecutive years of growth, covered 5.3× by free cash flow.

Dividend Yield

0.44%

Annual Div / Share

$0.32

5yr CAGR

+0%

Payout Ratio

27.45%

Safe

Dividend Growth Rate

3yr CAGR

+0%

5yr CAGR

+0%

10yr CAGR

+0%

Dividend Safety

10/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$0.32+0.0%

2025$0.32+0.0%

2024$0.32+0.0%

2023$0.32+0.0%

2022$0.32+0.0%

2021$0.32+0.0%

2020$0.32+0.0%

Income Projection

Invest

USD

Growth rate:

Reinvest dividends

Today

$4/yr

$0/mo

In 5 yrs

$4/yr

$0/mo

In 10 yrs

$4/yr

$0/mo

Today	In 5 yrs	In 10 yrs
$4/yr $0/mo	$4/yr $0/mo	$4/yr $0/mo

Analysis

Dividend Strengths

Dividend Achiever

TECH has raised its dividend for 17 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 5.3× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Risks to Watch

No strong risk signal stands out from the latest period pair.