Bio-Rad Laboratories Inc
BIO—
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Bio-Rad Laboratories Inc AI Insights
Informational only. Not investment advice.Snapshot
- TTM net loss of -675.9M driven by -491.4M securities loss - core operating income of 223M (8.7% margin) remains positive[Net Income TTM]
- FCF of 336.8M (13.2% margin) despite GAAP loss - cash generation intact with 0.21 debt/equity providing balance sheet flexibility[Free Cash Flow TTM]
- Revenue flat at 2.6B (0.5% 1Y, 0.2% 5Y growth) vs industry median 4.8% - stagnation in life sciences tools market[Total Revenue 1Y Growth]
Watch Triggers
- Total Revenue 1Y Growth: Exceeds 5% for 2 consecutive quarters — Would signal end of stagnation and validate growth thesis
- Operating Margin TTM: Returns above 12% — Confirms securities losses were transitory, not structural
- Inventory: Declines below 700M without revenue drop — Improves capital efficiency and FCF conversion
Bull Case
Strong FCF generation (336.8M TTM) with low leverage (0.21 D/E) enables organic investment or M&A without dilution. Net debt only 807M vs 6.7B equity.
Free Cash Flow TTMDebt to EquityNet Debt
Gross margin 52.3% (vs 41.6% median) indicates pricing power in specialized life sciences instrumentation. R&D at 11% of revenue protects moat.
Gross Margin TTMResearch and Development TTM
Bear Case
Revenue stagnation (0.2% 5Y CAGR vs 5.1% industry median) suggests market share loss or end-market headwinds. No visible growth catalyst.
Total Revenue 5Y GrowthTotal Revenue 1Y Growth
Asset turnover 0.25x (vs 0.58x median) signals capital inefficiency. 783M inventory (31% of revenue) ties up working capital.
Asset Turnover TTMInventory
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Operating margins likely to recover to 12-15% as securities portfolio volatility normalizes
1-3ymed
- Core operating income 223M TTM shows underlying profitability
- 497M unusual items distort true earnings power
- Gross margin 52.3% above industry median 41.6%
Operating margin 8.7% vs -3.5% industry meanGross profit 1.34B on 2.56B revenue TTMR&D at 284.9M (11% of revenue) sustains pipeline
Valuation Context
Caveats
BIO Fundamentals
Manufacturing → Computer and Electronic Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$7.65B | — | ||
$8.52B | — | ||
48 | — | ||
$2.59B | +1.9% | — | |
$6.01 | -16.9% | — | |
8.84% | -0.9% | — | |
6.52% | +91.7% | — | |
$357.2M | +7.6% | — | |
2.50% | +30.0% | — | |
Beta 5Y (Monthly) | unknown | — |
BIO Dividend History
No dividends
BIO Stock Splits
1 stock split
03/08/021:2 split
BIO SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
04/30/26 | 03/31/26 | 10-Q | |
02/13/26 | 12/31/25 | 10-K | |
10/29/25 | 09/30/25 | 10-Q | |
07/31/25 | 06/30/25 | 10-Q | |
05/01/25 | 03/31/25 | 10-Q | |
02/14/25 | 12/31/24 | Unknown | |
10/31/24 | 09/30/24 | 10-Q | |
08/02/24 | 06/30/24 | 10-Q | |
05/08/24 | 03/31/24 | 10-Q | |
02/16/24 | 12/31/23 | 10-K | |
10/27/23 | 09/30/23 | 10-Q | |
08/04/23 | 06/30/23 | 10-Q | |
05/05/23 | 03/31/23 | 10-Q | |
02/17/23 | 12/31/22 | 10-K | |
10/28/22 | 09/30/22 | 10-Q | |
07/29/22 | 06/30/22 | 10-Q | |
04/29/22 | 03/31/22 | 10-Q | |
02/11/22 | 12/31/21 | 10-K | |
10/29/21 | 09/30/21 | 10-Q | |
07/30/21 | 06/30/21 | 10-Q | |
04/30/21 | 03/31/21 | 10-Q | |
02/16/21 | 12/31/20 | 10-K | |
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05/08/20 | 03/31/20 | 10-Q | |
03/02/20 | 12/31/19 | 10-K | |
11/01/19 | 09/30/19 | 10-Q | |
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04/01/19 | 12/31/18 | 10-K | |
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04/16/18 | 12/31/17 | 10-K | |
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03/01/17 | 12/31/16 | 10-K | |
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02/26/10 | 12/31/09 | 10-K | |
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03/28/01 | 12/31/00 | 10-K | |
11/14/00 | 09/30/00 | 10-Q | |
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05/15/00 | 03/31/00 | 10-Q |