TECH
Bio-Techne Corporation$53.62
Sell
Target $20.59
Report: Mar 13, 2026Healthcare • Biotechnology • Mature CompounderSnapshot
Decision-first overview with recommendation, valuation anchor, and current setup.
Company Overview
Research Snapshot
Price History
Pelican View
Current$53.62-61.6%
Rec: SellConviction: High
Entry Target
N/A
N/A
Fair Value
$20.59
(62% below current)
Stop Loss
N/A
N/A
Position Size
None
Time Horizon
N/A
Key Metrics
Live Snapshot
Market Data
52 Week High$72.16
52 Week Low$46.01
Avg. 3 Month Volume2.39M
Efficiency
LTM Gross Margin65.2%
LTM EBITDA Margin18.6%
LTM EBIT Margin10.1%
LTM Operating Margin9.6%
LTM ROA3.2%
LTM ROE4.1%
LTM ROIC9.4%
LTM ROCE5.1%
Capital Structure
Market Cap (MM)$8.2B
Enterprise Value (MM)$8.4B
Shares Outstanding155.84M
Total Debt (MM)$350.89M
Cash & Equivalents (MM)$172.88M
LTM Net Debt (MM)$178.02M
LTM Net Debt/EBITDA0.8x
Growth
TTM Rev. Growth1.6%
Last 3-Yr Rev. CAGR2.8%
Last 3-Yr EBITDA CAGR-19.5%
Last 3-Yr EPS CAGR-32.2%
Valuation
Street Target Price$69.33
LTM EV/Revenue6.9x
LTM EV/Gross Profit10.5x
LTM EV/EBIT68.1x
LTM EV/EBITDA36.9x
LTM P/E100.8x
LTM EV/FCF37.5x
LTM P/FCF36.7x
LTM P/TB6.8x
LTM P/B4.1x
Dividend Yield0.6%
Payout Ratio61.5%
Executive SummarySituation: Current price is $53.62 versus fair value $20.59 (-61.6% expected return), and valuation confidence is stable. Debate: Bull case depends on NIH Funding Cuts: A 40% reduction in the NIH budget would directly impair 12% of U.S. Bear case centers on China Stimulus Recovery: A significant rebound in China biopharma spending driven by government stimulus could temporarily boost instrument sales and challenge the sell thesis. Conclusion: Recommendation is Sell with no position, pending a materially better risk/reward setup.
Bull Case
Bulls argue that the 85% recurring revenue profile and leadership in spatial biology (COMET platform) provide a floor for growth, while the full integration of Wilson Wolf by 2027 will restore 70% plus EBITDA margins.
Bear Case
Bears point to the 940 basis point collapse in operating margins, the 0% hit rate on annual EPS guidance, and the massive valuation premium (101.9x P/E) as evidence of a broken growth story.
Key Catalysts
Mid-Term (6-18 months)Impact: Critical
NIH Funding Cuts: A 40% reduction in the NIH budget would directly impair 12% of U.S. academic revenue, forcing a downward revision of long-...
Near-Term (0-6 months)Impact: High
Earnings Misses: Continued failure to meet EPS guidance will force the market to re-rate the stock from a 'growth' multiple to a 'value' mul...
Long-Term (18+ months)Impact: Moderate
Bio-Techne is relevant for analysis now because the stock has just broken below its 200-day moving average ($57.49) following a leadership c...
Primary Risks
Concern: Medium
China Stimulus Recovery: A significant rebound in China biopharma spending driven by government stimulus could temporarily boost instrument...
Concern: Low
Wilson Wolf Accretion: If the Wilson Wolf acquisition delivers 70% plus EBITDA margins sooner than expected, it could provide a significant...
Concern: Medium
The stewardship verdict is negative due to the combination of debt-funded buybacks at peak valuations and the $37 million arbitration loss....
Recent Activity
2026-02-12SEC Filing (8-K)
-6.16%Bio-Techne announces leadership team changes
2026-02-04SEC Filing (8-K)
+6.25%Bio-Techne reports Q2 FY2026 revenue of $295.9M with flat growth and 31.1% adjusted operating margin
2025-08-06SEC Filing (8-K)
-8.73%Bio-Techne reports Q4 FY2025 revenue of $317.0M with 3% organic growth and 32.0% adjusted operating margin
2025-05-21Press Release
-5.79%Cmb. Tech Announces Q1 2025 Results
2025-05-14SEC Filing (SC 13G/A)
-7.27%T. Rowe Price Associates increases Bio-Techne ownership to 7.2%
Valuation Table
9.8/10Decision Grade
Scenario Range
$12
Bear
$24
Base
$34
Bull
$54