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Bio-Rad Laboratories
(NYSE:BIO)
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Rating:70Outperform
Price Target:
$366.00
▲(16.39% Upside)
Action:Upgraded
Date:08/05/26
The score is driven primarily by strong financial stability (low leverage and meaningful operating/free cash flow) and supportive technical momentum (price above key moving averages with positive MACD). These are tempered by a premium valuation (P/E ~53) and a balanced-to-cautious earnings outlook with near-term revenue headwinds (Life Science softness and China pressure) despite improving sequential operating performance and planned cost savings.
Positive Factors
Balance sheet strength
Very low leverage and a sizable equity base give Bio‑Rad durable financial flexibility. This reduces interest burden, preserves capacity for buybacks, targeted M&A and R&D, and allows the company to absorb cyclical revenue dips while investing to support long‑term installed‑base pull‑through.
Negative Factors
Life Science & China weakness
Persistent softness in academic research (Life Science) and a sharp decline in China are structural growth headwinds. Reduced instrument placements in these markets slow the growth of the consumables installed base, weakening the primary engine for recurring revenue and making top‑line recovery more dependent on other segments.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Very low leverage and a sizable equity base give Bio‑Rad durable financial flexibility. This reduces interest burden, preserves capacity for buybacks, targeted M&A and R&D, and allows the company to absorb cyclical revenue dips while investing to support long‑term installed‑base pull‑through.
Read all positive factors
Bio-Rad Laboratories Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyBio-Rad Laboratories (BIO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.58B
Dividend YieldN/A
Average Volume (3M)299.95K
Price to Earnings (P/E)42.8
Beta (1Y)0.74
Revenue Growth1.37%
EPS Growth-29.25%
CountryUS
Employees7,450
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)8.33
Shares Outstanding21,677,137
10 Day Avg. Volume308,348
30 Day Avg. Volume299,952
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)1.11
Price to Sales (P/S)3.20
P/FCF Ratio22.05
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$331.25Price Target Upside5.34% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)9.04
Revenue Forecast (FY)$2.58B
Bio-Rad Laboratories Business Overview & Revenue Model
Company Description
Bio-Rad Laboratories, Inc., established in 1952 and headquartered in Hercules, California, operates as a global provider of life science research and clinical diagnostic products. Its operations span across the United States, Canada, Europe, Asia,...
How the Company Makes Money
Bio-Rad makes money primarily by selling a mix of (1) capital equipment (laboratory instruments and diagnostic analyzers) and (2) recurring consumables and reagents that customers repeatedly purchase to run those instruments and assays. In the Lif...
Bio-Rad Laboratories Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Neutral
The call showed a mix of encouraging operational and strategic progress alongside meaningful near-term headwinds. Positives include a strong sequential recovery (Q2 up ~10% vs Q1), clinical diagnostics returning to growth (+8.3% CC), ddPCR momentum (6% revenue growth, >20% instrument growth), improved sequential operating performance, and disciplined capital actions (Stilla acquisition accretive, $32M buyback, $30–35M annualized cost savings target). Offsetting these are persistent Life Science weakness (-5.1% CC), a steep decline in China (high-teens), consumables pull-through lag, process chromatography lumpiness, higher SG&A and logistics costs, and a cautious full-year revenue framework that allows for modest contraction. Overall, positives and negatives are roughly balanced: strategic momentum and margin recovery are clear, but near-term top-line and region-specific headwinds temper the outlook.Positive Updates
Total Revenue and Sequential Recovery
Total company revenue of approximately $651 million in Q2 2026 (essentially flat vs. prior year), with a meaningful sequential improvement of ~10% vs. Q1 2026, indicating recovery momentum after soft start to the year.
Negative Updates
Life Science Segment Weakness
Life Science revenue was $252 million, down 4.1% reported and down 5.1% currency-neutral year-over-year, primarily due to ongoing softness in the academic research market and a tough process chromatography comparison.
Read all updates
Q2-2026 Updates
Positive
Negative
Total Revenue and Sequential Recovery
Total company revenue of approximately $651 million in Q2 2026 (essentially flat vs. prior year), with a meaningful sequential improvement of ~10% vs. Q1 2026, indicating recovery momentum after soft start to the year.
Read all positive updates
Company Guidance
Bio‑Rad reaffirmed full‑year 2026 non‑GAAP guidance of currency‑neutral revenue growth of -3.0% to +0.5% (Life Science -3% to -1%; Clinical Diagnostics -3% to +1%), with Q3 revenue expected flat to Q2 (Q2 ≈ $651M) and a sequential mid‑single‑digit percentage ramp from Q3 to Q4; full‑year non‑GAAP gross margin is guided to 53%–54% and non‑GAAP operating margin to 10%–12%. The company reiterated 2026 free cash flow of ~$290M–$340M, noted ~ $206M of buyback capacity remaining as of June 30, and incorporated an estimated ~$4M China/order‑timing headwind for the back half plus a tougher process‑chromatography comp and elevated freight/logistics as near‑term drags; it expects a modest sequential step‑up in SG&A and R&D in Q3. Bio‑Rad also announced a restructuring targeting $30M–$35M of net annualized savings (one‑time costs ≈ $90M), with minimal 2026 savings, most savings realized by end‑2027 and an estimated ~40–50 bps operating‑margin expansion in 2027.Bio-Rad Laboratories Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
82
Very Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.59B | 2.58B | 2.57B | 2.67B | 2.80B | 2.92B |
| Gross Profit | 1.34B | 1.34B | 1.38B | 1.43B | 1.57B | 1.64B |
| EBITDA | 534.60M | 1.25B | -2.14B | -654.80M | -4.49B | 5.59B |
| Net Income | 222.40M | 759.90M | -1.84B | -637.32M | -3.63B | 4.25B |
Balance Sheet | ||||||
| Total Assets | 10.25B | 10.58B | 9.36B | 12.30B | 13.50B | 17.80B |
| Cash, Cash Equivalents and Short-Term Investments | 1.62B | 1.54B | 1.66B | 1.61B | 1.79B | 869.92M |
| Total Debt | 1.20B | 1.53B | 1.37B | 1.41B | 1.39B | 223.38M |
| Total Liabilities | 3.08B | 3.12B | 2.79B | 3.56B | 3.89B | 4.11B |
| Stockholders Equity | 7.17B | 7.45B | 6.57B | 8.74B | 9.62B | 13.69B |
Cash Flow | ||||||
| Free Cash Flow | 353.10M | 374.60M | 266.20M | 218.26M | 80.29M | 535.72M |
| Operating Cash Flow | 492.60M | 532.20M | 455.20M | 374.94M | 194.45M | 669.46M |
| Investing Cash Flow | -237.10M | -189.70M | -160.20M | 20.21M | -1.21B | -797.38M |
| Financing Cash Flow | -121.10M | -283.20M | -218.80M | -425.65M | 973.58M | -55.43M |
Bio-Rad Laboratories Technical Analysis
Positive
314.46
Price Trends
308.98
Positive
294.46
Positive
297.02
Positive
Market Momentum
15.56
Negative
70.66
Negative
89.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIO, the sentiment is Positive. The current price of 314.46 is below the 20-day moving average (MA) of 333.40, above the 50-day MA of 308.98, and above the 200-day MA of 297.02, indicating a bullish trend. The MACD of 15.56 indicates Negative momentum. The RSI at 70.66 is Negative, neither overbought nor oversold. The STOCH value of 89.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BIO.
Bio-Rad Laboratories Risk Analysis
Bio-Rad Laboratories disclosed 28 risk factors in its most recent earnings report. Bio-Rad Laboratories reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bio-Rad Laboratories Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $33.87B | 34.65 | 36.19% | ― | 15.54% | 77.43% | |
73 Outperform | $52.80B | 52.64 | 9.69% | ― | 14.55% | 15.09% | |
70 Outperform | $9.58B | 42.77 | 3.15% | ― | 1.37% | -29.25% | |
70 Outperform | $75.11B | 20.90 | 14.90% | ― | 13.53% | 46.29% | |
68 Neutral | $116.83B | 24.34 | 9.85% | 3.43% | 8.43% | 3.17% | |
58 Neutral | $26.64B | 20.22 | 10.05% | 3.78% | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BIO
Bio-Rad Laboratories
356.26
71.61
25.16%
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Bio-Rad Laboratories Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
Bio-Rad Restructuring Plan Announced to Boost Competitiveness
Neutral
Aug 4, 2026
On July 31, 2026, Bio-Rad Laboratories launched a global restructuring plan designed to improve operating performance and bolster competitiveness, involving job cuts, functional consolidation and facility closures through fiscal 2027. The company ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.