Bio-Rad Laboratories Inc - Class A
Exchange: NYSESector: HealthcareIndustry: Medical Devices
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B) is a leader in developing, manufacturing, and marketing a broad range of products for the life science research and clinical diagnostics markets. Based in Hercules, California, Bio-Rad operates a global network of research, development, manufacturing, and sales operations with approximately 7,700 employees, and $2.6 billion in revenues in 2024. Our customers include universities, research institutions, hospitals, and biopharmaceutical companies, as well as clinical, food safety and environmental quality laboratories. Together, we develop innovative, high-quality products that advance science and save lives.
Did you know?
Earnings per share grew at a -13.1% CAGR.
Current Price
$292.23
+1.41%GoodMoat Value
$938.27
221.1% undervaluedProfile
Valuation (TTM)
Market Cap$7.88B
P/E10.37
EV$6.99B
P/B1.06
Shares Out26.97M
P/Sales3.05
Revenue$2.58B
EV/EBITDA7.40
Bio-Rad Laboratories Inc - Class A (BIO) Stock Analysis
GoodMoat Analysis
Bio-Rad Laboratories appears to have a strong financial foundation with a high profit margin and low debt, but its low P/E of 9.7x and GoodMoat Target of $938.27 suggest a potentially significant margin of safety. However, its low operating margin and revenue growth of 3.9% raise questions about its competitive moat and operational efficiency. A value investor should investigate the disconnect between its profitability, growth, and valuation.
Read full analysis
Bio-Rad Laboratories operates in the medical devices and life sciences sector, providing instruments and reagents for research and diagnostics. Applying the GoodMoat Investment Framework, the initial assessment is mixed. The company's financial quality shows strengths, including a high profit margin of 29.4%, a low Debt/Equity ratio of 0.19, and a positive FCF Yield of 5.1%. However, its operating margin of 1.8% is exceptionally low, which is a significant weakness for a quality indicator. The 3.9% YoY revenue growth is modest, and without specific data on criteria like switching costs or proprietary data, a definitive Moat Score cannot be calculated, though its niche in specialized life science tools may contribute to one.
According to the Decision Framework, the valuation appears highly favourable on the surface. The current price of $273.6 is dramatically below the GoodMoat Target of $938.27, implying a potential margin of safety well over 40%, which would be classified as 'Deeply Undervalued'. The P/E of 9.7x is also very low. However, before proceeding, an investor must first resolve the 'Moat & Quality Gate' (Step 1). The low operating margin is a critical concern that must be understood—whether it's a temporary issue or structural—and a formal Moat Score of 5+ is required to pass. The combination of a seemingly deep value price and these fundamental questions makes Bio-Rad a compelling but caution-requiring candidate for deeper due diligence.
Analysis based on data as of 2024-05-15.
Market Cap$7.88B
Current Price$292.23
P/E Ratio10.37
Forward P/E—
PEG Ratio-0.05
EPS$27.85
Book Value$276.32
P/B Ratio1.06
BIO Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use 0.7% FCF growth (CAGR)
Cash vs Debt
Net Debt: 855M
Revenue
2.3B
FY19
2.5B
FY20
2.9B
FY21
2.8B
FY22
2.7B
FY23
2.6B
FY24
2.6B
FY25
Net Income
1.8B
FY19
3.8B
FY20
4.3B
FY21
—
FY22
—
FY23
—
FY24
760M
FY25
BIO 52-Week Range
$216.56
$339.75
50-Day MA: $277.41200-Day MA: $289.87
Did you know?
Earnings per share grew at a -13.1% CAGR.
Bio-Rad Laboratories Inc - Class A (BIO) Financial Summary
Bio-Rad Laboratories Inc - Class A (BIO) is a Healthcare company in the Medical Devices industry, listed on NYSE. The stock currently trades at $292.23 with a market capitalization of $7.88B.
Key valuation metrics include a P/E ratio of 10.37, price-to-book ratio of 1.06, and EPS of $27.85. The company reports a profit margin of 29.4% and return on equity of 10.2%.
BIO Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $7.88B |
| P/E Ratio | 10.37 |
| EPS | $27.85 |
| P/B Ratio | 1.06 |
| P/S Ratio | 3.05 |
| EV/EBITDA | 7.40 |
| Profit Margin | 29.4% |
| Return on Equity | 10.2% |
| Debt/Equity | 0.19 |
BIO Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $2.31B | $1.76B |
| FY20 | $2.55B | $3.81B |
| FY21 | $2.92B | $4.25B |
| FY22 | $2.80B | $-3.63B |
| FY23 | $2.67B | $-637.30M |
| FY24 | $2.57B | $-1.84B |
| FY25 | $2.58B | $759.90M |
Bio-Rad Laboratories Inc - Class A (BIO) Valuation
Based on GoodMoat's DCF model, Bio-Rad Laboratories Inc - Class A has a fair value estimate of $938.27. At the current price of $292.23, the stock appears 68.9% undervalued relative to our intrinsic value estimate.
BIO Quality Indicators
Bio-Rad Laboratories Inc - Class A maintains a profit margin of 29.4% and an operating margin of 1.8%. Return on equity stands at 10.2%. The current ratio is 5.62. Debt-to-equity ratio is 0.19.
About Bio-Rad Laboratories Inc - Class A
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIO.B) is a leader in developing, manufacturing, and marketing a broad range of products for the life science research and clinical diagnostics markets. Based in Hercules, California, Bio-Rad operates a global network of research, development, manufacturing, and sales operations with approximately 7,700 employees, and $2.6 billion in revenues in 2024. Our customers include universities, research institutions, hospitals, and biopharmaceutical companies, as well as clinical, food safety and environmental quality laboratories. Together, we develop innovative, high-quality products that advance science and save lives.
BIO Free Cash Flow
Bio-Rad Laboratories Inc - Class A generated $374.70M in trailing twelve-month free cash flow, representing an FCF yield of 4.75%. This moderate FCF yield indicates reasonable cash generation.
BIO Shares Outstanding
Bio-Rad Laboratories Inc - Class A has 0.03 billion shares outstanding at a share price of $292.23, giving it a market capitalization of $7.88B.