Bio-Techne (TECH) FY2023 results: revenue $1.1 billion, up 2.8% on the year
Bio-Techne Corp. (TECH) reported revenue of $1.1 billion for fiscal 2023, the year ended 30 June 2023, up 2.8% on the year before. Net income was $285 million, up 4.9%, and diluted earnings per share $1.76. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2025.
Revenue
$1.1 billion
+2.8% on the year
FY2016FY2023
Operating margin
26.3%
26.8% a year earlier
FY2016FY2023
Net income
$285 million
+4.9% on the year
FY2016FY2023
Diluted EPS
$1.76
+6.2% on the year
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
254
325
352
-21.8%
Capital expenditure
38.2
44.9
44.3
-14.8%
Free cash flow
216
280
308
-22.9%
Free cash flow margin
19.0%
25.4%
33.1%
Cash from investing
-266
-96.9
-244
Cash from financing
22.6
-243
-62.6
Depreciation and amortisation
107
101
87.7
+6.1%
Share-based compensation
39.2
42.2
49.0
-7.0%
Buybacks
19.6
161
43.2
-87.8%
Dividends paid
50.3
50.2
49.6
+0.2%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
162m
164m
162m
-1.4%
Shares outstanding at period end
158m
157m
156m
+0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,967
1,702
1,563
+15.6%
Non-controlling interest
n/a
-0.8
8.3
Debt
350
256
341
+36.8%
Operating lease liabilities
93.8
58.1
67.6
+61.3%
Other liabilities
228
280
283
-18.4%
Total liabilities and equity
2,639
2,295
2,263
+15.0%
Fixed assets
226
223
208
+1.3%
Goodwill
873
822
843
+6.2%
Intangible assets
535
532
616
+0.6%
Investments
23.7
74.5
32.5
-68.1%
Cash and equivalents
181
173
199
+4.6%
Receivables
218
195
145
+12.3%
Inventory
172
141
117
+21.6%
Other assets
411
135
102
+203.7%
Total assets
2,639
2,295
2,263
+15.0%
10-K for the year ended 30 June 2023, filed 22 August 2025: the filing.