BIONYSELaboratory Analytical InstrumentsFiscal year ends December 31Also trades as BIO.B
BIO-RAD LABORATORIES, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$352.82−0.88 (-0.25%)
Close on Oct 19, 2026
- Market cap
- $9.46B
- P/E (TTM)
- 42.8
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
51.9%−4.6 pts over 5 years
Operating margin
1.8%−14.7 pts over 5 years
Net margin
29.4%−120.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +0.7% | -2.7% | +0.3% | +2.5% | |
| Gross profit | -2.8% | -5.1% | -1.4% | +1.8% | |
| Operating income | -82.5% | -53.9% | -35.5% | -11.9% | |
| Net income | – | – | -27.6% | +21.4% | |
| EPS, diluted | – | – | -26.1% | +22.3% | |
| Free cash flow | +29.4% | +66.2% | -4.7% | +17.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 1.0% | 48.8% | 10.8% | |
| Return on assets | 0.7% | 36.4% | 7.6% | |
| Current ratio | 3.91 | 3.39 | 5.62 | |
| Debt to equity | 0.17 | 0.00 | 0.16 | |
| Net debt to EBITDA | -0.12× | -1.17× | 3.16× | |
| Interest coverage | 2.4× | 19.3× | 1.0× | |
| Inventory turnover | 1.8× | 1.9× | 1.7× | |
| Capex to revenue | 6.8% | 4.3% | 6.1% | |
| Diluted shares | 30M | 30M | 27M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Bio-Rad Laboratories generated $2.23B from operations and spent $1.92B on capital expenditure, dividends and share buybacks. 38% of that went back into the business.
Generated
$2.23B
Used
$1.92B
Capital expenditure$726.45M38%Dividends$00%Share buybacks$1.19B62%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin29.4%
×Asset turnover0.26×
×Equity multiplier1.42×
=Return on equity, FY202510.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 29.4% | 0.26× | 1.42× | 10.8% |
| FY2024 | -71.9% | 0.24× | 1.41× | -24.1% |
| FY2023 | -23.9% | 0.21× | 1.41× | -6.9% |
| FY2022 | -129.5% | 0.18× | 1.34× | -31.1% |
| FY2021 | 145.6% | 0.19× | 1.31× | 36.1% |
| FY2020 | 149.8% | 0.24× | 1.34× | 48.8% |
| FY2019 | 76.1% | 0.34× | 1.39× | 36.0% |
| FY2018 | 16.0% | 0.46× | 1.42× | 10.5% |
| FY2017 | 5.7% | 0.53× | 1.47× | 4.4% |
| FY2016 | 1.3% | 0.55× | 1.49× | 1.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$759.90M
- Cash generatingOperating cash flow above zero$532.20M
- Return on assets improvedROA up on the prior year-15.0% → 8.1%
- Earnings backed by cashOperating cash flow above net income$532.20M vs $759.90M
- Less leverageLong-term debt to assets fell12.8% → 11.4%
- Better liquidityCurrent ratio rose6.48 → 5.62
- No dilutionShare count did not rise28M → 27M
- Gross margin improvedGross margin up on the prior year53.73% → 51.87%
- More efficientAsset turnover rose0.21 → 0.28