Is the business good?
How good a business is AZTA?
Azenta, Inc. earns −12% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−12%
Return on invested capital · cost of capital 9.0% · 21 points below what the capital costs: growth destroys value
- Operating margin
- −29%
Operating margin · Medical Instruments & Supplies median 5.8% · 12 months to Q2 2026
- Share count, year on year
- +0.72%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 5.8%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −9.4% |
| FY2021 | −6.0% |
| FY2022 | −4.5% |
| FY2023 | −11% |
| FY2024 | −8.9% |
| FY2025 | −4.5% |
Details›
- Gross margin12 months to Q2 2026
- 44%
- Operating margin12 months to Q2 2026
- −29%
- Net margin12 months to Q2 2026
- −29%
- Free cash flow margin
- 5.0%
- R&D as % of revenue
- 5.8%
- Revenue, trailing twelve months
- $596M
- Free cash flow, trailing twelve months
- $30M
- Net income, trailing twelve months
- −$173M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −12%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Medical Instruments & Supplies
Ranks #24 of 27 by Smart Score