TECH Value Scorecard - Bio-Techne

Value Scorecard · run 2026-10-18

13 value checks: 12 scored 1 to 5, plus moat evidence

32/60

low-moderate value score

Earnings & returns

EPS Trend

2/5

Diluted EPS: $1.76 (2023), $1.05 (2024), $0.46 (2025), $1.16 (2026). It ended at or below 2023; the framework scores that as 2.

ROE Trend

2/5

ROE (net income / common equity): 14.5% (2023), 8.1% (2024), 3.8% (2025), 8.6% (2026). Median 8.4%, lowest 3.8%; the framework scores a median 5-10% as 2.

ROIC

3/5

ROIC of 10.4%: operating income of $251.89M divided by $2.42B of capital (total assets $2.59B minus current liabilities $163.70M), fiscal year to Jun 30, 2026, as filed in the 10-K (SEC EDGAR). The framework scores 10-15% as 3.

Profit Margins

4/5

Net margin of 15.0%; the framework scores 10-20% as 4; gross margin 66.2%, operating margin 27.9%.

Balance sheet & cash

Debt-to-Equity

5/5

Debt-to-equity of 0.14; the framework scores below 0.3 as 5 (total debt $289.09M, total cash $265.48M).

Free Cash Flow

5/5

Free cash flow (operating cash flow minus capital expenditure): $216.15M (2023), $236.10M (2024), $256.55M (2025), $263.22M (2026). It rose every year; the framework scores that as 5.

Retained Earnings

2/5

Retained earnings, as filed in the 10-Ks (SEC EDGAR): $1.31B (2023), $1.33B (2024), $1.07B (2025), $1.14B (2026). It ended at or below 2023; the framework scores that as 2.

Valuation models

Graham IV

1/5

IV = EPS x (8.5 + 2g) x (4.4 / Y) = $1.16 x (8.5 + 2 x 5.1) x (4.4 / 4.5) = $21.21. Current price $72.57; price is 242.2% above the model value.

DCF Value

1/5

FCF/share = $1.464, stage 1 growth = 2.4% for 5 years, terminal growth = 3%, discount rate = 10%. Stage 1 PV = $5.94, PV of terminal value = $15.06, DCF value = $21.00. Current price $72.57; price is 245.5% above the model value.

Margin of Safety

1/5

Graham value $21.21 (price is 242.2% above the model value); DCF value $21.00 (price is 245.5% above the model value).

Price-to-Book

1/5

P/B of 5.37; the framework scores above 5.0 as 1.

Business quality

Moat Evidence

Not scored

A moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.

Return on capital, each year

Above 15% in 0 of 10 years (2017-2026); lowest 4.3%, highest 14.0%.

Gross margin, each year

Between 64.8% and 68.4% over 10 years (a range of 3.6 points).

Competition, in the company’s own words · 10-K filed Aug 24, 2026

Although our segments both generally operate in highly competitive markets, it is difficult to determine our competitive position, either in the aggregate or by segment, since none of our competitors offer all of the same product and service lines or serve all of the same markets as the Company or its segments. Because of the range of the products and services we sell, we encounter a wide variety of competitors,

The opening of the company’s “COMPETITION” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.

Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.

Capital Allocation

5/5

Capital allocation, 2023-2026: dividends or buybacks paid in every year (pass); $618.02M paid out against $972.03M of free cash flow (pass); total debt $454.96M to $289.09M, down 36.5%, 0.8x EBITDA (pass: not up more than 10%); shares outstanding 0.16B to 0.16B, down 1.0% (pass). 4 of 4 tests passed; the framework scores that as 5.

Filings

Company notices to the SEC

Not scored

Three kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.

These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.

How the Graham and DCF values were calculated

  Graham Formula:
    IV = EPS x (8.5 + 2g) x (4.4 / Y)
    EPS = $1.16, g = 5.1%, Y = 4.5
    IV = $21.21
    Current price $72.57 vs Graham value $21.21 — price is 242.2% above the model value.

  DCF:
    FCF/share = $1.464
    Stage 1 growth = 2.4% for 5 years | terminal growth = 3.0% | discount rate = 10.0%
      Y1: $1.500 → PV $1.363
      Y2: $1.536 → PV $1.269
      Y3: $1.572 → PV $1.181
      Y4: $1.610 → PV $1.100
      Y5: $1.649 → PV $1.024
    Stage 1 PV sum = $5.94
    Terminal value at end of Y5 = $24.26
    PV of terminal value = $15.06
    DCF value = $21.00
    Current price $72.57 vs DCF value $21.00 — price is 245.5% above the model value.

Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $72.57. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.

Recent headlines · third-party publishers · not investment advice

In the news

Loading headlines...

The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.

TECH · Bio-Techne

TECH price