Bio-Techne
Through the investors’ lenses
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 2/4
| Measure | TECH | Checked against | |
|---|---|---|---|
| Owner earnings | $152.30m | positive | ✓ |
| Return on equity | 3.8% | median 11.7% | ✗ |
| Debt to equity | 0.18x | median 0.79x | ✓ |
| Operating margin | 8.4% | median 15.0% | ✗ |
Passes 2 of 4. To be clear: Warren Buffett has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Terry Smith 2/4
| Measure | TECH | Checked against | |
|---|---|---|---|
| Return on capital employed | 4.5% | median 10.1% | ✗ |
| Cash conversion | 3.92x | median 1.78x | ✓ |
| Operating margin | 8.4% | median 15.0% | ✗ |
| Debt to equity | 0.18x | median 0.79x | ✓ |
Passes 2 of 4. To be clear: Terry Smith has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Charlie Munger 0/3
| Measure | TECH | Checked against | |
|---|---|---|---|
| Return on capital employed | 4.5% | median 10.1% | ✗ |
| Return on equity | 3.8% | median 11.7% | ✗ |
| Operating margin | 8.4% | median 15.0% | ✗ |
Passes 0 of 3. To be clear: Charlie Munger has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Chuck Akre 2/4
| Measure | TECH | Checked against | |
|---|---|---|---|
| Return on equity | 3.8% | median 11.7% | ✗ |
| Debt to equity | 0.18x | median 0.79x | ✓ |
| Cash conversion | 3.92x | median 1.78x | ✓ |
| Return on equity, sustained | 4 of 10 | 8 of 10 above median | ✗ |
Passes 2 of 4. To be clear: Chuck Akre has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Philip Fisher 0/4
| Measure | TECH | Checked against | |
|---|---|---|---|
| Operating margin | 8.4% | median 15.0% | ✗ |
| Net margin | 6.0% | median 10.2% | ✗ |
| Return on capital employed | 4.5% | median 10.1% | ✗ |
| Operating margin, held or improving | 20.7% | 10-yr median 21.2% | ✗ |
Passes 0 of 4. To be clear: Philip Fisher has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Walter Schloss 2/2
| Measure | TECH | Checked against | |
|---|---|---|---|
| Current ratio | 3.46x | median 1.25x | ✓ |
| Debt to equity | 0.18x | median 0.79x | ✓ |
Passes 2 of 2. To be clear: Walter Schloss has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Benjamin Graham 3/3
| Measure | TECH | Checked against | |
|---|---|---|---|
| Current ratio | 3.46x | 2.00x published | ✓ |
| Long-term debt to working capital | 0.80x | 1.00x published | ✓ |
| Positive earnings, ten years running | 10 yrs | 10 published | ✓ |
Passes 3 of 3. To be clear: Benjamin Graham has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Joel Greenblatt 0/1
| Measure | TECH | Checked against | |
|---|---|---|---|
| Return on capital employed | 4.5% | median 10.1% | ✗ |
Passes 0 of 1. To be clear: Joel Greenblatt has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
Peter Lynch 1/2
| Measure | TECH | Checked against | |
|---|---|---|---|
| Debt to equity | 0.18x | median 0.79x | ✓ |
| Net margin | 6.0% | median 10.2% | ✗ |
Passes 1 of 2. To be clear: Peter Lynch has never said anything about Bio-Techne. These are the company’s own figures put through the tests he described. What he looks at, and why →
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | 27.6% | whyThe figure most screeners publish. |
| Operating cash flow | 17.1% | whyBefore capital spending. |
| Free cash flow | 19.0% | whyAfter maintaining the business. |
The 10-K filed 2026-08-24 moved this: free cash flow 19.6% → 19.0% · earnings 69.6% → 27.6% · rating 70 → 77
Spread between highest and lowest: 10.5 percentage points. Same filings, different denominators.
Coverage rating 77 / 100 — Adequate. ? Peer standing 41/50Direction 18/30Stability 18/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2026-06-30 | 19.0% |
| 2025-06-30 | 19.6% |
| 2024-06-30 | 21.4% |
| 2023-06-30 | 23.3% |
| 2022-06-30 | 17.9% |
| 2021-06-30 | 16.1% |
Coverage has improved three years running, 23.3% to 19.0%.
82% of the 38 health care here pay out more — comfortable for the sector.
The arithmetic
- GAAP earnings — dividends declared per share $0.320 ÷ diluted EPS $1.16
- Operating cash flow — dividends paid $49.9m ÷ operating cash flow $292m
- Free cash flow — dividends paid $49.9m ÷ (operating cash flow $292m − capex $28.9m)
Where the figures came from
- 10-K filed 2026-08-24 · accession 0001104659-26-100322
All public at sec.gov — you should not have to take our word for it.
Computed straight from SEC XBRL. A number that looks wrong to you is more useful to us than agreement — tell us.
What the free cash flow payout ratio measures, and where every company here sits on it.
Also on: rated adequate · when it files.
When this changes
Every figure above is recomputed whenever Bio-Techne files. The monthly letter carries what filed, what moved, and one finding computed across every company here.