Bio-Rad Laboratories (BIO) FY2023 results: revenue $2.7 billion, down 4.7% on the year
Bio-Rad Laboratories, Inc. (BIO) reported revenue of $2.7 billion for fiscal 2023, the year ended 31 December 2023, down 4.7% on the year before. Net income was -$637 million, and diluted earnings per share $-21.82. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$2.7 billion
-4.7% on the year
FY2016FY2023
Operating margin
12.6%
17.2% a year earlier
FY2016FY2023
Net income
-$637 million
FY2016FY2023
Diluted EPS
-$21.82
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
375
194
669
+92.8%
Capital expenditure
157
113
134
+38.9%
Free cash flow
218
81.7
536
+167.3%
Free cash flow margin
8.2%
2.9%
18.3%
Cash from investing
20.2
-1,208
-797
Cash from financing
-426
974
-55.4
Depreciation and amortisation
146
137
138
+6.3%
Share-based compensation
61.3
60.9
51.2
+0.7%
Buybacks
429
216
50.0
+98.8%
Diluted shares, weighted
29m
30m
30m
-1.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
8,741
9,615
13,667
-9.1%
Debt
1,210
1,198
10.5
+1.0%
Operating lease liabilities
165
154
176
+7.7%
Finance lease liabilities
9.6
10.1
10.5
-5.0%
Other liabilities
2,173
2,525
3,912
-14.0%
Total liabilities and equity
12,299
13,502
17,776
-8.9%
Fixed assets
529
499
512
+6.1%
Goodwill
414
406
347
+1.7%
Intangible assets
321
332
254
-3.5%
Investments
8,901
10,187
14,786
-12.6%
Trading assets
326
323
443
+1.0%
Cash and equivalents
404
434
471
-7.0%
Receivables
489
495
424
-1.1%
Inventory
781
719
572
+8.5%
Other assets
136
106
n/a
+27.5%
Total assets
12,299
13,502
17,776
-8.9%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.