Is the business good?
How good a business is BIO?
Bio-Rad Laboratories, Inc. earns 0.75% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
0.75%
Return on invested capital · cost of capital 9.0% · 8.3 points below what the capital costs: growth destroys value
- Operating margin
- 2.2%
Operating margin · Medical Devices median 11% · 12 months to Q1 2026
- Cash conversion
- 2.12×
Cash conversion · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −3.6%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 17% |
| FY2021 | 17% |
| FY2022 | 17% |
| FY2023 | 13% |
| FY2024 | 10% |
| FY2025 | 1.8% |
Details›
- Gross margin12 months to Q1 2026
- 52%
- Operating margin12 months to Q1 2026
- 2.2%
- Net margin12 months to Q1 2026
- 6.5%
- Free cash flow margin
- 14%
- R&D as % of revenue
- 10%
- Revenue, trailing twelve months
- $2.59B
- Free cash flow, trailing twelve months
- $357M
- Net income, trailing twelve months
- $169M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 0.75%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Medical Devices
Ranks #27 of 35 by Smart Score