Bio-Techne (TECH) FY2020 results: revenue $739 million, up 3.5% on the year
Bio-Techne Corp. (TECH) reported revenue of $739 million for fiscal 2020, the year ended 30 June 2020, up 3.5% on the year before. Net income was $229 million, up 138.7%, and diluted earnings per share $1.46. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2020.
Revenue
$739 million
+3.5% on the year
FY2013FY2020
Operating margin
21.3%
20.5% a year earlier
FY2013FY2020
Net income
$229 million
+138.7% on the year
FY2013FY2020
Diluted EPS
$1.46
+135.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
739
714
643
+3.5%
Cost of revenue
255
241
211
+6.2%
Gross profit
483
473
432
+2.0%
Gross margin
65.4%
66.3%
67.2%
Research and development
65.2
62.4
55.3
+4.5%
Selling, general and administrative
261
264
241
-1.4%
Operating income
157
147
136
+7.3%
Operating margin
21.3%
20.5%
21.2%
Interest expense
19.2
21.7
10.2
-11.6%
Pre-tax income
276
112
126
+146.8%
Income tax
47.2
15.9
-0.2
+196.0%
Effective tax rate
17.1%
14.2%
-0.2%
Net income
229
96.1
126
+138.7%
Net margin
31.0%
13.5%
19.6%
Diluted EPS
$1.46
$0.62
$0.83
+135.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
205
182
170
+13.0%
Capital expenditure
51.7
25.4
20.9
+103.6%
Free cash flow
153
156
149
-1.8%
Free cash flow margin
20.8%
21.9%
23.2%
Cash from investing
27.1
-337
-38.7
Cash from financing
-184
134
-99.2
Depreciation and amortisation
82.7
78.2
64.5
+5.8%
Share-based compensation
32.4
32.3
28.2
+0.3%
Buybacks
50.1
15.4
0.0
+225.3%
Dividends paid
48.9
48.4
48.0
+1.1%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
158m
156m
152m
+1.3%
Shares outstanding at period end
154m
152m
150m
+1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,381
1,166
1,079
+18.5%
Non-controlling interest
0.0
n/a
n/a
Debt
357
505
339
-29.4%
Operating lease liabilities
67.2
0.0
n/a
Other liabilities
222
214
175
+4.1%
Total liabilities and equity
2,028
1,884
1,593
+7.6%
Fixed assets
177
154
145
+14.8%
Goodwill
728
733
598
-0.6%
Intangible assets
517
579
446
-10.9%
Investments
124
65.1
59.8
+90.8%
Cash and equivalents
147
101
122
+45.3%
Receivables
123
137
120
-10.9%
Inventory
103
91.0
85.6
+13.3%
Other assets
109
23.7
15.9
+360.8%
Total assets
2,028
1,884
1,593
+7.6%
10-K for the year ended 30 June 2020, filed 26 August 2020: the filing.