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Bio-Techne (TECH) FY2025 results: revenue $1.2 billion, up 5.2% on the year

Bio-Techne Corp. (TECH) reported revenue of $1.2 billion for fiscal 2025, the year ended 30 June 2025, up 5.2% on the year before. Net income was $73 million, down 56.3%, and diluted earnings per share $0.46. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2025.

Revenue
$1.2 billion
+5.2% on the year
FY2018FY2025
Operating margin
8.4%
17.8% a year earlier
FY2018FY2025
Net income
$73 million
-56.3% on the year
FY2018FY2025
Diluted EPS
$0.46
-56.2% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue1,2201,1591,137+5.2%
Cost of revenue429389367+10.3%
Gross profit790770770+2.7%
Gross margin64.8%66.4%67.7%
Research and development99.596.792.5+2.9%
Selling, general and administrative589466378+26.2%
Operating income102207299-50.5%
Operating margin8.4%17.8%26.3%
Interest expense8.515.711.2-45.9%
Pre-tax income98.5186339-47.0%
Income tax25.117.653.2+42.5%
Effective tax rate25.5%9.5%15.7%
Net income73.4168285-56.3%
Net margin6.0%14.5%25.1%
Diluted EPS$0.46$1.05$1.76-56.2%
$ 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

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow288299254-3.8%
Capital expenditure31.062.938.2-50.7%
Free cash flow257236216+8.7%
Free cash flow margin21.0%20.4%19.0%
Cash from investing-35.2-203-266
Cash from financing-254-12222.6
Depreciation and amortisation110112107-1.6%
Share-based compensation40.838.039.2+7.3%
Buybacks27680.019.6+244.5%
Dividends paid50.450.450.3-0.1%
Dividend per share$0.32$0.32$0.320.0%
Diluted shares, weighted160m161m162m-0.7%
Shares outstanding at period end155m158m158m-2.1%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity1,9192,0691,967-7.3%
Debt346319350+8.5%
Operating lease liabilities84.087.693.8-4.2%
Other liabilities209228228-8.4%
Total liabilities and equity2,5582,7042,639-5.4%
Fixed assets246251226-2.2%
Goodwill981973873+0.9%
Intangible assets366507535-27.9%
Investmentsn/a1.123.7
Cash and equivalents162152181+6.8%
Receivables207241218-14.3%
Inventory189180172+5.4%
Other assets407399411+2.0%
Total assets2,5582,7042,639-5.4%

10-K for the year ended 30 June 2025, filed 22 August 2025: the filing.