Bio-Rad Laboratories (BIO) Financials

$257.34 -1.68 (-0.65%)

Closing price 03:59 PM Eastern

Extended Trading

$256.03 -1.31 (-0.51%)

As of 07:19 PM Eastern

Annual Income Statements for Bio-Rad Laboratories

This table shows Bio-Rad Laboratories' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	109	26	122	366	1,759	3,814	4,254	-3,628	-637	-1,844	760
Consolidated Net Income / (Loss)	109	26	122	366	1,759	3,814	4,254	-3,628	-637	-1,844	760
Net Income / (Loss) Continuing Operations	109	26	122	366	1,759	3,814	4,254	-3,628	-637	-1,844	760
Total Pre-Tax Income	146	42	98	513	2,261	4,918	5,449	-4,704	-850	-2,343	996
Total Operating Income	167	56	119	-103	230	421	500	483	338	269	47
Total Gross Profit	1,122	1,138	1,188	1,223	1,257	1,438	1,638	1,567	1,427	1,379	1,340
Total Revenue	2,019	2,068	2,160	2,289	2,312	2,546	2,923	2,802	2,671	2,567	2,583
Operating Revenue	2,019	2,068	2,160	2,289	2,312	2,546	2,923	2,802	2,671	2,567	2,583
Total Cost of Revenue	898	930	972	1,066	1,055	1,108	1,284	1,235	1,244	1,188	1,243
Operating Cost of Revenue	898	930	972	1,066	1,055	1,108	1,284	1,235	1,244	1,188	1,243
Total Operating Expenses	955	1,083	1,068	1,326	1,027	1,017	1,138	1,085	1,089	1,110	1,293
Selling, General & Admin Expense	762	815	807	835	825	799	877	828	842	814	844
Research & Development Expense	193	206	250	199	203	218	261	257	247	296	276
Impairment Charge	0.00	62	12	293	-	-	-	-	0.00	0.00	173
Total Other Income / (Expense), net	-21	-14	-21	616	2,031	4,497	4,949	-5,187	-1,188	-2,612	948
Interest Expense	22	23	23	24	23	22	1.55	38	49	49	49
Interest & Investment Income	-	-	-	-	2,031	4,496	4,926	-5,194	-1,252	-2,657	900
Other Income / (Expense), net	0.83	9.22	1.57	640	24	23	24	45	114	94	97
Income Tax Expense	37	16	-24	147	502	1,104	1,195	-1,077	-213	-498	236
Basic Earnings per Share	$3.74	$0.88	$4.12	$12.25	$58.93	$128.13	$142.61	($121.79)	($21.82)	($65.36)	$27.87
Weighted Average Basic Shares Outstanding	29.19M	29.44M	29.66M	29.84M	29.84M	29.77M	29.83M	29.79M	29.21M	28.21M	27.26M
Diluted Earnings per Share	$3.71	$0.88	$4.07	$12.10	$58.27	$126.47	$140.83	$0.00	($21.82)	($65.36)	$27.85
Weighted Average Diluted Shares Outstanding	29.41M	29.65M	30.03M	30.23M	30.18M	30.16M	30.21M	29.79M	29.21M	28.21M	27.28M
Weighted Average Basic & Diluted Shares Outstanding	29.36M	29.58M	-	29.80M	29.93M	29.84M	29.93M	29.60M	28.52M	28.01M	26.99M

This table shows Bio-Rad Laboratories' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	106	350	384	-2,166	653	-716	64	318	-342	720	-527
Consolidated Net Income / (Loss)	106	350	384	-2,166	653	-716	64	318	-342	720	-527
Net Income / (Loss) Continuing Operations	106	350	384	-2,166	653	-716	64	318	-342	720	-527
Total Pre-Tax Income	137	428	491	-2,786	862	-909	83	414	-431	929	-690
Total Operating Income	91	95	45	102	65	58	24	77	65	-119	34
Total Gross Profit	336	366	326	355	356	342	306	345	343	345	309
Total Revenue	632	681	611	639	650	667	585	652	653	693	592
Operating Revenue	632	681	611	639	650	667	585	652	653	693	592
Total Cost of Revenue	296	315	285	283	294	326	279	306	310	348	283
Operating Cost of Revenue	296	315	285	283	294	326	279	306	310	348	283
Total Operating Expenses	245	271	281	254	291	284	282	268	278	464	275
Selling, General & Admin Expense	201	207	215	195	200	204	209	208	207	221	212
Research & Development Expense	44	64	66	59	91	80	74	61	71	70	63
Total Other Income / (Expense), net	46	333	447	-2,888	797	-967	60	337	-496	1,048	-724
Interest Expense	12	12	12	12	12	12	12	13	12	12	12
Other Income / (Expense), net	59	1,598	459	-2,876	809	1,702	72	350	-484	160	-712
Income Tax Expense	31	79	107	-621	208	-193	19	96	-89	209	-163
Basic Earnings per Share	$3.65	$11.79	$13.46	($76.26)	$23.37	($25.93)	$2.29	$11.67	($12.70)	$26.61	($19.55)
Weighted Average Basic Shares Outstanding	29.10M	29.21M	28.52M	28.40M	27.95M	28.21M	27.94M	27.23M	26.92M	27.26M	26.96M
Diluted Earnings per Share	$3.64	$33.63	$13.45	($76.26)	$23.34	$39.47	$2.29	$11.67	($12.70)	$26.59	($19.55)
Weighted Average Diluted Shares Outstanding	29.22M	29.21M	28.54M	28.40M	27.99M	28.21M	27.96M	27.23M	26.92M	27.28M	26.96M
Weighted Average Basic & Diluted Shares Outstanding	29.15M	28.52M	28.52M	27.87M	28.00M	28.01M	27.21M	27.06M	26.97M	26.99M	26.76M

This table details how cash moves in and out of Bio-Rad Laboratories' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	44	-1.65	-194	-229	-229	-618	-196	-216	-30	85	42
Net Cash From Operating Activities	0.74	216	-18	285	0.29	585	669	18	375	455	532
Net Cash From Continuing Operating Activities	0.74	216	-18	7.60	0.29	-25	672	18	375	455	532
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Non-Cash Adjustments To Reconcile Net Income	0.74	-49	-18	7.60	0.29	-25	672	18	367	435	570
Changes in Operating Assets and Liabilities, net	-	265	-	-	-	-	-	-	8.20	20	-38
Net Cash From Investing Activities	-167	-214	-176	-187	-209	-70	-797	-1,208	20	-160	-190
Net Cash From Continuing Investing Activities	-167	-214	-176	-187	-209	-70	-797	-1,208	20	-160	-190
Purchase of Property, Plant & Equipment	-116	-141	-115	-130	-99	-109	-134	-113	-157	-166	-158
Acquisitions	-1.37	-0.14	-	0.00	-79	-97	-126	-101	0.00	-23	-219
Purchase of Investments	-299	-293	-360	-371	-371	-248	-1,305	-2,060	-689	-1,277	-669
Sale of Property, Plant & Equipment	0.08	0.40	0.09	4.32	0.13	0.07	0.05	0.20	0.20	0.10	0.10
Divestitures	-	-	-	7.23	0.00	12	0.00	1.40	2.50	0.00	0.00
Sale and/or Maturity of Investments	249	220	300	302	332	368	767	1,066	863	1,305	856
Net Cash From Financing Activities	8.58	9.02	0.34	-49	-23	-523	-55	974	-426	-219	-283
Net Cash From Continuing Financing Activities	8.58	9.02	0.34	-49	-23	-523	-55	974	-426	-219	-283
Repayment of Debt	-0.28	-0.30	-0.35	-2.96	-1.13	-427	-3.02	-0.50	-0.50	-1.00	-0.50
Repurchase of Common Equity	0.00	0.00	-2.92	-49	-28	-100	-50	-216	-429	-204	-296
Issuance of Common Equity	8.24	11	15	14	17	20	21	18	19	19	16
Other Financing Activities, net	0.63	-1.99	-11	-11	-11	-16	-23	-14	-15	-33	-3.00

This table details how cash moves in and out of Bio-Rad Laboratories' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-13	247	-66	-151	-128	408	-117	-253	-118	530	-105
Net Cash From Operating Activities	24	375	-22	-23	23	455	-22	-0.90	-22	578	108
Net Cash From Continuing Operating Activities	24	375	-22	-23	23	455	-22	-0.90	-22	578	32
Net Income / (Loss) Continuing Operations	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Non-Cash Adjustments To Reconcile Net Income	-	-	-22	-	-	-	-22	-0.90	-22	616	32
Net Cash From Investing Activities	-9.50	72	-43	-31	-56	-31	2.90	-115	-43	-34	-93
Net Cash From Continuing Investing Activities	-9.50	72	-43	-31	-56	-7.14	2.90	-115	-43	-34	-93
Purchase of Property, Plant & Equipment	-44	-42	-40	-42	-40	-43	-34	-46	-32	-46	-30
Purchase of Investments	-196	-151	-407	-248	-399	-223	-153	-153	-224	-139	-226
Sale of Property, Plant & Equipment	0.07	0.10	-	0.07	0.06	-0.05	0.00	-	-	-	0.10
Sale and/or Maturity of Investments	231	263	404	259	407	235	191	300	214	150	163
Net Cash From Financing Activities	-27	-201	0.00	-97	-96	-26	-98	-136	-53	3.30	-44
Net Cash From Continuing Financing Activities	-27	-201	0.00	-97	-96	-26	-98	-136	-53	3.30	-44
Repayment of Debt	-0.12	-0.15	-0.80	-0.12	-0.12	-0.02	-0.10	-0.20	-	-0.20	-0.10
Repurchase of Common Equity	-21	-200	-4.70	-101	-98	-0.01	-102	-140	-53	-	-48
Issuance of Common Equity	4.65	4.33	5.50	4.68	5.10	3.91	4.30	4.20	3.40	3.90	3.40
Other Financing Activities, net	-9.81	-4.78	-	-	-3.13	-30	-	-	-2.50	-0.40	0.50
Cash Interest Paid	-	-	-	-	-	-	-	-	-	-	22

This table presents Bio-Rad Laboratories' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3,710	3,851	4,273	5,611	8,009	12,973	17,799	13,502	12,299	9,364	10,577
Total Current Assets	1,778	1,845	1,977	2,023	2,180	2,140	1,990	3,158	3,048	3,030	2,906
Cash & Equivalents	458	456	384	432	661	662	471	434	404	488	530
Short-Term Investments	329	383	371	413	454	329	399	1,356	1,203	1,176	1,011
Accounts Receivable	391	372	465	392	372	419	424	495	489	453	461
Inventories, net	490	525	595	584	554	622	572	719	781	760	741
Prepaid Expenses	94	91	146	187	102	91	109	124	140	123	137
Other Current Assets	11	12	10	9.62	11	11	10	24	26	31	28
Plant, Property, & Equipment, net	438	489	493	509	499	491	512	499	529	528	540
Total Noncurrent Assets	1,494	1,517	1,803	3,079	5,329	10,341	15,297	9,845	8,722	5,806	7,130
Long-Term Investments	720	831	1,028	2,656	4,638	9,561	14,387	8,831	7,698	4,839	6,104
Goodwill	496	477	506	220	264	292	347	406	414	411	580
Intangible Assets	214	162	174	133	146	199	254	332	321	294	174
Other Noncurrent Operating Assets	65	48	95	70	282	289	309	276	290	262	273
Total Liabilities & Shareholders' Equity	3,710	3,851	4,273	5,611	8,009	12,973	17,799	13,502	12,299	9,364	10,577
Total Liabilities	1,219	1,271	1,343	1,591	2,254	3,093	4,114	3,886	3,558	2,795	3,123
Total Current Liabilities	441	471	503	451	905	632	681	569	523	468	517
Short-Term Debt	0.30	0.33	0.42	0.49	426	1.80	0.49	0.47	0.50	1.20	1.30
Accounts Payable	122	133	135	122	107	139	142	135	145	122	129
Current Deferred & Payable Income Tax Liabilities	29	28	40	56	8.76	23	10	32	36	31	37
Current Employee Benefit Liabilities	158	163	172	144	180	223	277	195	140	124	172
Other Current Liabilities	102	115	127	101	122	168	164	206	202	189	178
Total Noncurrent Liabilities	778	800	840	1,140	1,348	2,461	3,433	3,318	3,035	2,327	2,606
Long-Term Debt	434	434	435	439	14	12	11	1,198	1,199	1,200	1,202
Noncurrent Deferred & Payable Income Tax Liabilities	233	225	222	553	998	2,077	3,065	1,770	1,476	818	1,059
Other Noncurrent Operating Liabilities	111	141	183	148	337	372	358	350	361	309	345
Total Equity & Noncontrolling Interests	2,491	2,579	2,930	4,020	5,755	9,880	13,685	9,615	8,741	6,569	7,454
Total Preferred & Common Equity	2,491	2,579	2,930	4,020	5,755	9,880	13,685	9,615	8,741	6,569	7,454
Preferred Stock	0.00	0.00	0.00	0.00	7.50	0.00	0.00	-	0.00	0.00	0.00
Total Common Equity	2,491	2,579	2,930	4,020	5,755	9,880	13,685	9,615	8,741	6,569	7,454
Common Stock	300	333	361	394	410	429	442	447	449	463	476
Retained Earnings	1,808	1,829	1,830	3,722	5,471	9,268	13,525	9,898	9,261	7,416	8,176
Treasury Stock	-0.10	-0.10	-0.22	-49	-38	-100	-106	-264	-633	-772	-1,010
Accumulated Other Comprehensive Income / (Loss)	382	418	739	-47	-87	282	-176	-467	-336	-538	-189

This table presents Bio-Rad Laboratories' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	11,978	11,896	12,299	12,610	9,688	10,603	9,364	9,527	10,214	9,696	9,790
Total Current Assets	3,139	3,147	3,048	3,061	3,056	3,056	3,030	3,037	2,811	2,842	2,942
Cash & Equivalents	390	458	404	433	407	410	488	521	369	396	507
Short-Term Investments	1,333	1,301	1,203	1,212	1,209	1,212	1,176	1,139	1,005	1,023	1,058
Accounts Receivable	492	457	489	445	446	462	453	425	470	465	426
Inventories, net	777	776	781	783	804	804	760	790	799	783	771
Prepaid Expenses	123	124	140	143	153	133	123	125	150	152	150
Other Current Assets	20	25	26	39	32	28	31	36	19	24	31
Plant, Property, & Equipment, net	514	511	529	522	534	545	528	529	550	540	528
Total Noncurrent Assets	8,325	8,238	8,722	9,027	6,098	7,003	5,806	5,962	6,853	6,314	6,320
Long-Term Investments	7,311	7,218	7,698	8,018	5,100	6,003	4,839	4,994	5,577	5,058	5,312
Goodwill	412	407	414	413	412	415	411	415	582	579	577
Intangible Assets	329	314	321	314	307	307	294	296	397	388	167
Other Noncurrent Operating Assets	274	298	290	282	280	277	262	257	298	289	265
Total Liabilities & Shareholders' Equity	11,978	11,896	12,299	12,610	9,688	10,603	9,364	9,527	10,214	9,696	9,790
Total Liabilities	3,531	3,480	3,558	3,559	2,910	3,116	2,795	2,848	3,085	2,960	2,939
Total Current Liabilities	582	558	523	466	487	498	468	507	549	522	917
Short-Term Debt	0.48	0.48	0.50	0.49	0.48	1.26	1.20	1.20	1.30	1.30	401
Accounts Payable	150	112	145	103	127	122	122	138	139	129	133
Current Deferred & Payable Income Tax Liabilities	74	104	36	34	36	44	31	37	36	45	45
Current Employee Benefit Liabilities	155	155	140	146	132	146	124	157	158	183	148
Other Current Liabilities	203	187	202	182	191	185	189	173	214	165	190
Total Noncurrent Liabilities	2,949	2,922	3,035	3,093	2,423	2,618	2,327	2,341	2,537	2,437	2,022
Long-Term Debt	1,198	1,199	1,199	1,199	1,200	1,200	1,200	1,201	1,201	1,201	803
Noncurrent Deferred & Payable Income Tax Liabilities	1,402	1,370	1,476	1,541	878	1,076	818	841	961	873	882
Other Noncurrent Operating Liabilities	349	353	361	352	345	342	309	299	374	363	337
Total Equity & Noncontrolling Interests	8,447	8,416	8,741	9,051	6,779	7,488	6,569	6,679	7,129	6,737	6,851
Total Preferred & Common Equity	8,447	8,416	8,741	9,051	6,779	7,488	6,569	6,679	7,129	6,737	6,851
Preferred Stock	-	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	8,448	8,417	8,741	9,051	6,779	7,488	6,569	6,679	7,129	6,737	6,851
Common Stock	474	439	449	463	475	448	463	476	485	462	491
Retained Earnings	8,805	8,911	9,261	9,645	7,479	8,132	7,416	7,480	7,798	7,456	7,649
Treasury Stock	-458	-436	-633	-630	-724	-777	-772	-867	-1,000	-1,015	-1,053
Accumulated Other Comprehensive Income / (Loss)	-373	-498	-336	-426	-451	-315	-538	-410	-154	-167	-235

This table displays calculated financial ratios and metrics derived from Bio-Rad Laboratories' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.15%	2.41%	4.45%	5.98%	0.97%	10.12%	14.81%	-4.12%	-4.67%	-3.92%	0.65%
EBITDA Growth	9.01%	-61.24%	86.05%	344.15%	-52.76%	75.16%	18.09%	0.60%	-14.39%	-19.57%	-60.32%
EBIT Growth	9.01%	-61.24%	86.05%	344.15%	-52.76%	75.16%	18.09%	0.60%	-14.39%	-19.57%	-60.32%
NOPAT Growth	23.27%	-72.08%	327.61%	-149.45%	342.38%	82.93%	19.54%	-13.52%	-30.00%	-20.37%	-80.87%
Net Income Growth	22.95%	-76.20%	370.19%	199.07%	381.02%	116.88%	11.54%	-185.27%	82.43%	-189.38%	141.20%
EPS Growth	21.64%	-76.28%	362.50%	197.30%	381.57%	117.04%	11.35%	-100.00%	0.00%	0.00%	142.61%
Operating Cash Flow Growth	101.53%	28,980.22%	-108.20%	1,710.78%	-99.90%	205,153.33%	14.44%	-97.37%	2,030.11%	21.42%	16.92%
Free Cash Flow Firm Growth	19.69%	-54.91%	-180.69%	717.28%	30.31%	96.44%	-8.08%	-209.41%	85.35%	-116.62%	164.81%
Invested Capital Growth	-7.81%	-5.34%	17.78%	-39.52%	-56.36%	-259.50%	-135.94%	111.90%	238.15%	101.14%	-20.12%
Revenue Q/Q Growth	-1.35%	0.04%	2.36%	-0.19%	0.33%	6.95%	-1.92%	-0.09%	-1.81%	-0.53%	1.00%
EBITDA Q/Q Growth	6.00%	-55.76%	154.50%	-66.95%	-53.39%	-52.73%	-90.73%	104.15%	-91.07%	22.65%	-92.27%
EBIT Q/Q Growth	6.00%	-55.76%	154.50%	-66.95%	-53.39%	-52.73%	-90.73%	104.15%	-91.07%	22.65%	-92.27%
NOPAT Q/Q Growth	5.91%	-66.28%	392.15%	-151.39%	536.06%	68.38%	-15.41%	0.16%	-6.47%	-12.09%	-77.07%
Net Income Q/Q Growth	6.42%	-72.45%	627.20%	-71.37%	366.91%	96.68%	-48.42%	39.75%	-300.07%	-136.83%	212.43%
EPS Q/Q Growth	5.70%	-72.41%	653.70%	-71.39%	366.53%	8.22%	-36.17%	100.00%	100.00%	100.00%	-31.62%
Operating Cash Flow Q/Q Growth	100.57%	866.16%	-121.26%	1,681.86%	-99.95%	289.39%	12.67%	-97.38%	2,030.23%	21.41%	16.89%
Free Cash Flow Firm Q/Q Growth	-1.70%	14.38%	-16.96%	-18.26%	134.50%	18.80%	-31.14%	19.21%	-377.54%	-112.08%	217.59%
Invested Capital Q/Q Growth	-0.13%	-5.92%	3.10%	-4.69%	-36.39%	-97.65%	10.60%	-44.63%	-0.42%	19.71%	-30.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.54%	55.05%	54.98%	53.43%	54.38%	56.48%	56.05%	55.93%	53.42%	53.73%	51.87%
EBITDA Margin	8.30%	3.14%	5.59%	23.44%	10.97%	17.44%	17.94%	18.82%	16.91%	14.15%	5.58%
Operating Margin	8.26%	2.69%	5.52%	-4.51%	9.93%	16.55%	17.12%	17.22%	12.65%	10.48%	1.83%
EBIT Margin	8.30%	3.14%	5.59%	23.44%	10.97%	17.44%	17.94%	18.82%	16.91%	14.15%	5.58%
Profit (Net Income) Margin	5.41%	1.26%	5.66%	15.97%	76.08%	149.83%	145.57%	-129.45%	-23.86%	-71.86%	29.42%
Tax Burden Percent	74.90%	62.56%	124.99%	71.32%	77.78%	77.56%	78.07%	77.11%	74.97%	78.73%	76.33%
Interest Burden Percent	87.05%	64.00%	80.95%	95.53%	891.91%	1,107.55%	1,039.19%	-891.79%	-188.24%	-644.96%	690.84%
Effective Tax Rate	25.10%	37.44%	-24.99%	28.68%	22.22%	22.44%	21.93%	0.00%	0.00%	0.00%	23.67%
Return on Invested Capital (ROIC)	8.47%	2.53%	10.22%	-5.82%	26.08%	0.00%	0.00%	0.00%	57.93%	19.85%	3.16%
ROIC Less NNEP Spread (ROIC-NNEP)	10.28%	3.30%	12.29%	-25.70%	-11.52%	0.00%	0.00%	0.00%	67.90%	50.16%	-9.17%
Return on Net Nonoperating Assets (RNNOA)	-3.80%	-1.51%	-5.79%	16.34%	9.90%	0.00%	0.00%	0.00%	-64.88%	-43.94%	7.68%
Return on Equity (ROE)	4.67%	1.03%	4.44%	10.52%	35.98%	48.79%	36.11%	-31.14%	-6.94%	-24.09%	10.84%
Cash Return on Invested Capital (CROIC)	16.60%	8.01%	-6.11%	43.43%	104.55%	0.00%	0.00%	-759.35%	-50.77%	-47.32%	25.53%
Operating Return on Assets (OROA)	4.75%	1.72%	2.97%	10.86%	3.72%	4.23%	3.41%	3.37%	3.50%	3.35%	1.45%
Return on Assets (ROA)	3.10%	0.69%	3.01%	7.40%	25.83%	36.36%	27.65%	-23.18%	-4.94%	-17.03%	7.62%
Return on Common Equity (ROCE)	4.67%	1.03%	4.44%	10.52%	35.98%	48.79%	36.11%	-31.14%	-6.94%	-24.09%	10.84%
Return on Equity Simple (ROE_SIMPLE)	4.39%	1.01%	4.17%	9.09%	30.56%	38.61%	31.09%	-37.73%	-7.29%	-28.07%	0.00%
Net Operating Profit after Tax (NOPAT)	125	35	149	-74	179	327	391	338	236	188	36
NOPAT Margin	6.18%	1.69%	6.90%	-3.22%	7.73%	12.84%	13.37%	12.06%	8.85%	7.34%	1.39%
Net Nonoperating Expense Percent (NNEP)	-1.81%	-0.76%	-2.07%	19.88%	37.60%	43.92%	29.96%	-32.13%	-9.96%	-30.31%	12.33%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.12%	2.38%	2.42%	0.42%
Cost of Revenue to Revenue	44.46%	44.95%	45.02%	46.57%	45.62%	43.52%	43.95%	44.07%	46.58%	46.27%	48.13%
SG&A Expenses to Revenue	37.73%	39.39%	37.35%	36.46%	35.67%	31.38%	30.01%	29.54%	31.51%	31.72%	32.68%
R&D to Revenue	9.56%	9.95%	11.58%	8.70%	8.77%	8.55%	8.92%	9.17%	9.26%	11.53%	10.67%
Operating Expenses to Revenue	47.29%	52.35%	49.46%	57.94%	44.44%	39.93%	38.93%	38.71%	40.77%	43.25%	50.04%
Earnings before Interest and Taxes (EBIT)	168	65	121	537	254	444	524	528	452	363	144
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	168	65	121	537	254	444	524	528	452	363	144
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.63	2.09	2.42	1.73	1.92	1.76	1.65	1.30	1.08	1.40	1.10
Price to Tangible Book Value (P/TBV)	2.28	2.78	3.16	1.90	2.07	1.85	1.73	1.41	1.18	1.57	1.22
Price to Revenue (P/Rev)	2.01	2.60	3.29	3.04	4.79	6.83	7.73	4.48	3.52	3.58	3.16
Price to Earnings (P/E)	37.20	207.11	58.11	19.03	6.30	4.56	5.31	0.00	0.00	0.00	10.76
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.69%	0.48%	1.72%	5.25%	15.88%	21.93%	18.82%	0.00%	0.00%	0.00%	9.30%
Enterprise Value to Invested Capital (EV/IC)	2.11	3.10	3.65	4.08	13.85	0.00	0.00	16.70	2.06	3.07	1.71
Enterprise Value to Revenue (EV/Rev)	1.48	2.00	2.66	1.70	2.49	2.69	2.52	1.11	0.49	1.52	0.67
Enterprise Value to EBITDA (EV/EBITDA)	17.83	63.82	47.60	7.25	22.74	15.42	14.02	5.90	2.88	10.72	12.02
Enterprise Value to EBIT (EV/EBIT)	17.83	63.82	47.60	7.25	22.74	15.42	14.02	5.90	2.88	10.72	12.02
Enterprise Value to NOPAT (EV/NOPAT)	23.92	118.90	38.58	0.00	32.28	20.95	18.83	9.21	5.50	20.69	48.07
Enterprise Value to Operating Cash Flow (EV/OCF)	4,020.67	19.18	0.00	13.63	20,230.28	11.70	10.98	176.81	3.47	8.56	3.25
Enterprise Value to Free Cash Flow (EV/FCFF)	12.21	37.56	0.00	7.08	8.05	4.87	5.69	0.00	0.00	0.00	5.95
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.17	0.17	0.15	0.11	0.08	0.00	0.00	0.12	0.14	0.18	0.16
Long-Term Debt to Equity	0.17	0.17	0.15	0.11	0.00	0.00	0.00	0.12	0.14	0.18	0.16
Financial Leverage	-0.37	-0.46	-0.47	-0.64	-0.86	-1.02	-1.09	-1.06	-0.96	-0.88	-0.84
Leverage Ratio	1.51	1.49	1.47	1.42	1.39	1.34	1.31	1.34	1.41	1.41	1.42
Compound Leverage Factor	1.31	0.95	1.19	1.36	12.43	14.86	13.57	-11.98	-2.65	-9.13	9.82
Debt to Total Capital	14.85%	14.42%	12.93%	9.85%	7.10%	0.14%	0.08%	11.08%	12.07%	15.46%	13.90%
Short-Term Debt to Total Capital	0.01%	0.01%	0.01%	0.01%	6.88%	0.02%	0.00%	0.00%	0.01%	0.02%	0.02%
Long-Term Debt to Total Capital	14.84%	14.41%	12.91%	9.84%	0.22%	0.12%	0.08%	11.08%	12.06%	15.45%	13.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	85.15%	85.58%	87.07%	90.15%	92.90%	99.86%	99.92%	88.92%	87.93%	84.54%	86.10%
Debt to EBITDA	2.59	6.69	3.60	0.82	1.73	0.03	0.02	2.27	2.66	3.31	8.35
Net Debt to EBITDA	-6.42	-19.10	-11.20	-5.71	-20.98	-23.74	-29.09	-17.87	-17.96	-14.60	-44.70
Long-Term Debt to EBITDA	2.59	6.69	3.60	0.82	0.05	0.03	0.02	2.27	2.66	3.31	8.34
Debt to NOPAT	3.48	12.47	2.92	-5.96	2.46	0.04	0.03	3.55	5.07	6.38	33.39
Net Debt to NOPAT	-8.62	-35.58	-9.08	41.61	-29.77	-32.27	-39.04	-27.91	-34.30	-28.16	-178.78
Long-Term Debt to NOPAT	3.47	12.46	2.92	-5.96	0.08	0.04	0.03	3.55	5.07	6.37	33.35
Altman Z-Score	3.81	4.23	4.79	4.61	4.49	4.82	4.71	3.53	3.23	3.81	3.21
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.03	3.91	3.93	4.49	2.41	3.39	2.92	5.55	5.83	6.48	5.62
Quick Ratio	2.67	2.57	2.43	2.74	1.64	2.23	1.90	4.02	4.01	4.53	3.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	245	110	-89	550	716	1,407	1,293	-1,415	-207	-449	291
Operating Cash Flow to CapEx	0.64%	153.20%	-15.41%	227.47%	0.29%	539.17%	500.74%	15.63%	239.55%	275.05%	337.90%
Free Cash Flow to Firm to Interest Expense	11.28	4.72	-3.87	22.94	30.58	64.35	833.69	-37.13	-4.20	-9.18	5.94
Operating Cash Flow to Interest Expense	0.03	9.24	-0.77	11.91	0.01	26.76	431.63	0.46	7.59	9.31	10.86
Operating Cash Flow Less CapEx to Interest Expense	-5.33	3.21	-5.77	6.68	-4.19	21.80	345.44	-2.49	4.42	5.92	7.65
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.55	0.53	0.46	0.34	0.24	0.19	0.18	0.21	0.24	0.26
Accounts Receivable Turnover	5.25	5.42	5.16	5.34	6.04	6.43	6.93	6.10	5.43	5.45	5.66
Inventory Turnover	1.87	1.83	1.74	1.81	1.85	1.88	2.15	1.91	1.66	1.54	1.66
Fixed Asset Turnover	4.66	4.47	4.40	4.57	4.59	5.14	5.83	5.55	5.20	4.86	4.84
Accounts Payable Turnover	7.15	7.28	7.25	8.28	9.19	8.99	9.13	8.92	8.90	8.90	9.89
Days Sales Outstanding (DSO)	69.51	67.40	70.73	68.34	60.39	56.77	52.64	59.80	67.20	66.95	64.51
Days Inventory Outstanding (DIO)	195.40	199.27	210.15	201.73	196.89	193.79	169.72	190.87	219.98	236.73	220.28
Days Payable Outstanding (DPO)	51.02	50.15	50.35	44.10	39.71	40.61	39.98	40.93	41.01	41.01	36.89
Cash Conversion Cycle (CCC)	213.88	216.52	230.53	225.97	217.57	209.96	182.38	209.74	246.17	262.66	247.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,414	1,339	1,577	954	416	-664	-1,566	186	630	1,267	1,012
Invested Capital Turnover	1.37	1.50	1.48	1.81	3.38	-20.56	-2.62	-4.06	6.54	2.71	2.27
Increase / (Decrease) in Invested Capital	-120	-75	238	-623	-538	-1,080	-902	1,753	444	637	-255
Enterprise Value (EV)	2,987	4,145	5,750	3,891	5,766	6,846	7,354	3,112	1,299	3,895	1,732
Market Capitalization	4,063	5,385	7,104	6,958	11,077	17,389	22,605	12,541	9,411	9,197	8,173
Book Value per Share	$84.98	$87.31	$98.45	$134.18	$192.25	$331.20	$457.42	$322.40	$299.92	$234.65	$276.32
Tangible Book Value per Share	$60.76	$65.69	$75.60	$122.40	$178.57	$314.73	$437.32	$297.63	$274.73	$209.50	$248.36
Total Capital	2,925	3,014	3,365	4,460	6,195	9,894	13,696	10,813	9,941	7,771	8,657
Total Debt	434	435	435	439	440	14	11	1,198	1,200	1,202	1,203
Total Long-Term Debt	434	434	435	439	14	12	11	1,198	1,199	1,200	1,202
Net Debt	-1,076	-1,240	-1,353	-3,067	-5,319	-10,544	-15,251	-9,429	-8,111	-5,302	-6,441
Capital Expenditures (CapEx)	116	141	115	126	98	108	134	113	157	166	158
Debt-free, Cash-free Net Working Capital (DFCFNWC)	546	530	714	723	581	513	435	794	913	899	850
Debt-free Net Working Capital (DFNWC)	1,337	1,374	1,474	1,573	1,701	1,510	1,310	2,590	2,526	2,564	2,391
Net Working Capital (NWC)	1,336	1,373	1,474	1,573	1,275	1,508	1,310	2,589	2,526	2,563	2,389
Net Nonoperating Expense (NNE)	16	8.86	27	-439	-1,580	-3,487	-3,864	3,965	874	2,033	-724
Net Nonoperating Obligations (NNO)	-1,076	-1,240	-1,353	-3,067	-5,339	-10,544	-15,251	-9,429	-8,111	-5,302	-6,441
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital to Revenue	27.04%	25.60%	33.05%	31.57%	25.12%	20.17%	14.87%	28.32%	34.19%	35.04%	32.90%
Debt-free Net Working Capital to Revenue	66.18%	66.41%	68.25%	68.72%	73.58%	59.32%	44.83%	92.42%	94.56%	99.89%	92.54%
Net Working Capital to Revenue	66.17%	66.40%	68.23%	68.69%	55.14%	59.25%	44.81%	92.40%	94.55%	99.84%	92.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.87	$0.96	$4.12	$12.25	$58.93	$127.86	$142.33	($121.79)	($21.82)	($65.36)	$27.87
Adjusted Weighted Average Basic Shares Outstanding	29.19M	29.44M	29.66M	29.84M	29.84M	29.77M	29.83M	29.79M	29.21M	28.21M	27.26M
Adjusted Diluted Earnings per Share	$3.85	$0.95	$4.07	$12.10	$58.27	$126.20	$140.56	($121.79)	($21.82)	$0.00	$27.85
Adjusted Weighted Average Diluted Shares Outstanding	29.41M	29.65M	30.03M	30.23M	30.18M	30.16M	30.21M	29.79M	29.21M	28.21M	27.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	29.36M	29.58M	0.00	29.80M	29.93M	29.84M	29.93M	29.60M	28.52M	28.01M	26.99M
Normalized Net Operating Profit after Tax (NOPAT)	125	74	92	135	179	327	391	338	236	188	168
Normalized NOPAT Margin	6.18%	3.57%	4.24%	5.89%	7.73%	12.84%	13.37%	12.06%	8.85%	7.34%	6.50%
Pre Tax Income Margin	7.22%	2.01%	4.53%	22.39%	97.81%	193.19%	186.45%	-167.88%	-31.82%	-91.27%	38.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.72	2.78	5.25	22.39	10.83	20.31	338.08	13.85	9.14	7.43	2.94
NOPAT to Interest Expense	5.76	1.49	6.48	-3.08	7.63	14.95	251.86	8.87	4.79	3.85	0.74
EBIT Less CapEx to Interest Expense	2.36	-3.25	0.25	17.16	6.62	15.35	251.88	10.89	5.97	4.04	-0.27
NOPAT Less CapEx to Interest Expense	0.40	-4.54	1.48	-8.31	3.43	9.98	165.66	5.91	1.62	0.47	-2.48
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	2.39%	13.38%	1.59%	2.62%	1.18%	-5.95%	-67.27%	-11.04%	38.89%

This table displays calculated financial ratios and metrics derived from Bio-Rad Laboratories' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	26,990,394.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	26,990,394.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-19.53
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.15%	-6.73%	-9.75%	-6.26%	2.79%	-2.00%	-4.16%	2.05%	0.51%	3.85%	1.14%
EBITDA Growth	176.41%	-73.11%	418.04%	-86.42%	484.48%	3.96%	-81.05%	115.38%	-147.93%	-97.68%	-810.17%
EBIT Growth	176.41%	-73.11%	418.04%	-86.42%	484.48%	3.96%	-81.05%	115.38%	-147.93%	-97.68%	-810.17%
NOPAT Growth	6.39%	-13.53%	-30.56%	13.26%	-30.67%	-47.53%	-47.84%	-16.70%	-6.52%	-325.37%	31.25%
Net Income Growth	165.27%	-57.75%	456.71%	-86.32%	514.71%	-304.67%	-83.33%	114.68%	-152.34%	200.59%	-923.59%
EPS Growth	166.42%	-71.50%	479.74%	-92.62%	541.21%	17.37%	-82.97%	115.30%	-154.41%	202.70%	-953.71%
Operating Cash Flow Growth	0.00%	2,030.11%	0.00%	0.99%	-0.99%	21.42%	0.89%	0.00%	-0.45%	15.36%	586.94%
Free Cash Flow Firm Growth	88.84%	77.99%	-669.37%	-19.70%	-67.02%	-63.00%	41.54%	89.00%	4.80%	127.30%	111.54%
Invested Capital Growth	88.03%	238.15%	210.48%	107.43%	67.31%	101.14%	111.00%	9.78%	38.22%	-20.12%	-3.95%
Revenue Q/Q Growth	-7.19%	7.75%	-10.33%	4.53%	1.76%	2.73%	-12.30%	11.31%	0.21%	6.16%	-14.58%
EBITDA Q/Q Growth	110.05%	1,032.45%	-70.27%	-651.11%	131.50%	101.43%	-94.58%	347.17%	-198.17%	109.77%	-1,756.48%
EBIT Q/Q Growth	110.05%	1,032.45%	-70.27%	-651.11%	131.50%	101.43%	-94.58%	347.17%	-198.17%	109.77%	-1,756.48%
NOPAT Q/Q Growth	12.36%	10.40%	-55.08%	103.27%	-31.21%	-16.45%	-55.46%	225.42%	-22.77%	-301.56%	125.91%
Net Income Q/Q Growth	109.14%	229.14%	9.78%	-664.05%	130.16%	-209.59%	108.94%	396.56%	-207.58%	310.59%	-173.21%
EPS Q/Q Growth	109.19%	823.90%	13.89%	-666.99%	130.61%	69.11%	-94.20%	409.61%	-208.83%	309.37%	-173.52%
Operating Cash Flow Q/Q Growth	200.00%	1,492.95%	-100.00%	0.00%	200.00%	1,853.56%	-104.88%	95.95%	-2,388.89%	2,679.02%	-81.29%
Free Cash Flow Firm Q/Q Growth	53.45%	-62.10%	-193.25%	45.90%	35.04%	-58.19%	-5.16%	89.82%	-462.11%	145.36%	-55.54%
Invested Capital Q/Q Growth	4.34%	-0.42%	-7.70%	116.34%	-15.84%	19.71%	-3.20%	12.56%	5.96%	-30.81%	16.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.10%	53.78%	53.37%	55.62%	54.78%	51.22%	52.27%	52.99%	52.59%	49.80%	52.25%
EBITDA Margin	23.65%	248.56%	82.41%	-434.47%	134.49%	263.69%	16.30%	65.47%	-64.13%	5.90%	-114.42%
Operating Margin	14.39%	13.99%	7.32%	15.90%	9.92%	8.74%	4.05%	11.83%	10.00%	-17.15%	5.76%
EBIT Margin	23.65%	248.56%	82.41%	-434.47%	134.49%	263.69%	16.30%	65.47%	-64.13%	5.90%	-114.42%
Profit (Net Income) Margin	16.81%	51.35%	62.85%	-339.16%	100.53%	-107.24%	10.93%	48.77%	-52.36%	103.87%	-89.02%
Tax Burden Percent	77.50%	81.64%	78.18%	77.72%	75.81%	78.75%	76.74%	76.76%	79.31%	77.49%	76.41%
Interest Burden Percent	91.71%	25.30%	97.56%	100.44%	98.61%	-51.64%	87.42%	97.05%	102.94%	2,271.88%	101.82%
Effective Tax Rate	22.50%	18.36%	21.82%	0.00%	24.19%	0.00%	23.26%	23.24%	0.00%	22.51%	0.00%
Return on Invested Capital (ROIC)	62.60%	74.77%	540.51%	30.59%	22.95%	16.55%	8.73%	17.59%	14.20%	-30.12%	8.68%
ROIC Less NNEP Spread (ROIC-NNEP)	62.15%	71.67%	536.79%	64.07%	14.45%	27.83%	8.07%	13.00%	20.82%	-43.95%	18.59%
Return on Net Nonoperating Assets (RNNOA)	-58.58%	-68.48%	-535.22%	-56.23%	-12.91%	-24.38%	-7.15%	-10.53%	-17.13%	36.81%	-15.28%
Return on Equity (ROE)	4.02%	6.29%	5.29%	-25.63%	10.04%	-7.83%	1.59%	7.06%	-2.93%	6.69%	-6.60%
Cash Return on Invested Capital (CROIC)	-8.96%	-50.77%	-151.91%	-44.92%	-25.03%	-47.32%	-52.17%	2.70%	-19.62%	25.53%	7.67%
Operating Return on Assets (OROA)	5.37%	51.47%	16.34%	-102.77%	30.85%	62.48%	3.74%	16.80%	-16.16%	1.53%	-30.68%
Return on Assets (ROA)	3.82%	10.63%	12.46%	-80.23%	23.06%	-25.41%	2.51%	12.52%	-13.19%	26.91%	-23.87%
Return on Common Equity (ROCE)	4.02%	6.29%	5.29%	-25.63%	10.04%	-7.83%	1.59%	7.06%	-2.93%	6.69%	-6.60%
Return on Equity Simple (ROE_SIMPLE)	-1.89%	0.00%	-3.56%	-19.56%	-10.40%	0.00%	-32.40%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	70	78	35	71	49	41	18	59	46	-92	24
NOPAT Margin	11.15%	11.42%	5.72%	11.13%	7.52%	6.12%	3.11%	9.08%	7.00%	-13.29%	4.03%
Net Nonoperating Expense Percent (NNEP)	0.45%	3.10%	3.72%	-33.48%	8.50%	-11.28%	0.66%	4.59%	-6.62%	13.83%	-9.90%
Return On Investment Capital (ROIC_SIMPLE)	-	0.78%	-	-	-	0.53%	0.23%	0.71%	0.58%	-1.06%	0.30%
Cost of Revenue to Revenue	46.90%	46.22%	46.63%	44.38%	45.22%	48.78%	47.73%	47.01%	47.41%	50.20%	47.75%
SG&A Expenses to Revenue	31.83%	30.41%	35.18%	30.50%	30.85%	30.56%	35.67%	31.88%	31.67%	31.88%	35.87%
R&D to Revenue	6.89%	9.38%	10.87%	9.23%	14.01%	11.93%	12.56%	9.28%	10.92%	10.14%	10.62%
Operating Expenses to Revenue	38.72%	39.79%	46.05%	39.72%	44.86%	42.49%	48.22%	41.16%	42.59%	66.95%	46.50%
Earnings before Interest and Taxes (EBIT)	150	1,693	503	-2,774	874	1,760	95	427	-419	41	-678
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	150	1,693	503	-2,774	874	1,760	95	427	-419	41	-678
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.24	1.08	1.09	1.15	1.25	1.40	1.02	0.92	1.13	1.10	1.10
Price to Tangible Book Value (P/TBV)	1.35	1.18	1.18	1.29	1.38	1.57	1.14	1.07	1.32	1.22	1.23
Price to Revenue (P/Rev)	3.83	3.52	3.79	3.04	3.61	3.58	2.68	2.57	2.97	3.16	2.91
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	20.57	0.00	10.76	44.57
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.86%	0.00%	9.30%	2.24%
Enterprise Value to Invested Capital (EV/IC)	4.17	2.06	2.40	1.80	2.74	3.07	1.12	0.59	1.58	1.71	1.57
Enterprise Value to Revenue (EV/Rev)	0.97	0.49	0.54	0.89	1.12	1.52	0.54	0.32	0.90	0.67	0.71
Enterprise Value to EBITDA (EV/EBITDA)	0.52	2.88	1.63	0.00	9.78	10.72	0.00	0.26	1.24	12.02	0.00
Enterprise Value to EBIT (EV/EBIT)	0.52	2.88	1.63	0.00	9.78	10.72	0.00	0.26	1.24	12.02	0.00
Enterprise Value to NOPAT (EV/NOPAT)	10.44	5.50	6.21	9.75	13.52	20.69	7.89	5.16	14.73	48.07	42.31
Enterprise Value to Operating Cash Flow (EV/OCF)	149.94	3.47	3.72	6.05	7.72	8.56	3.01	1.80	5.08	3.25	2.79
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	23.00	0.00	5.95	20.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.14	0.14	0.13	0.18	0.16	0.18	0.18	0.17	0.18	0.16	0.18
Long-Term Debt to Equity	0.14	0.14	0.13	0.18	0.16	0.18	0.18	0.17	0.18	0.16	0.12
Financial Leverage	-0.94	-0.96	-1.00	-0.88	-0.89	-0.88	-0.89	-0.81	-0.82	-0.84	-0.82
Leverage Ratio	1.42	1.41	1.40	1.42	1.41	1.41	1.41	1.43	1.43	1.42	1.43
Compound Leverage Factor	1.30	0.36	1.36	1.43	1.40	-0.73	1.23	1.39	1.47	32.31	1.45
Debt to Total Capital	12.47%	12.07%	11.70%	15.04%	13.83%	15.46%	15.25%	14.43%	15.15%	13.90%	14.94%
Short-Term Debt to Total Capital	0.01%	0.01%	0.00%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	4.97%
Long-Term Debt to Total Capital	12.47%	12.06%	11.70%	15.04%	13.81%	15.45%	15.23%	14.42%	15.13%	13.88%	9.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	87.54%	87.93%	88.30%	84.96%	86.17%	84.54%	84.75%	85.57%	84.85%	86.10%	85.06%
Debt to EBITDA	0.24	2.66	1.40	-2.80	4.06	3.31	-26.83	0.38	0.65	8.35	-1.91
Net Debt to EBITDA	-1.54	-17.96	-9.87	12.89	-21.71	-14.60	121.71	-1.82	-2.83	-44.70	9.02
Long-Term Debt to EBITDA	0.24	2.66	1.40	-2.80	4.05	3.31	-26.80	0.38	0.64	8.34	-1.28
Debt to NOPAT	4.74	5.07	5.35	5.16	5.61	6.38	6.92	7.58	7.65	33.39	27.51
Net Debt to NOPAT	-30.79	-34.30	-37.74	-23.72	-30.02	-28.16	-31.40	-36.23	-33.56	-178.78	-129.71
Long-Term Debt to NOPAT	4.74	5.07	5.34	5.16	5.60	6.37	6.91	7.57	7.64	33.35	18.36
Altman Z-Score	3.38	3.56	3.32	2.33	3.67	4.31	3.16	3.00	3.02	3.18	2.91
Noncontrolling Interest Sharing Ratio	-0.01%	0.00%	0.00%	-0.01%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.64	5.83	6.57	6.28	6.14	6.48	5.99	5.12	5.44	5.62	3.21
Quick Ratio	3.97	4.01	4.48	4.23	4.19	4.53	4.12	3.36	3.61	3.87	2.17
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-226	-366	-1,073	-580	-377	-596	-627	-64	-359	163	72
Operating Cash Flow to CapEx	53.48%	889.04%	0.00%	-55.20%	58.00%	1,059.52%	-64.53%	-1.97%	-70.66%	1,261.35%	361.54%
Free Cash Flow to Firm to Interest Expense	-18.21	-29.69	-87.37	-47.32	-30.97	-48.94	-52.26	-5.07	-29.18	13.45	5.88
Operating Cash Flow to Interest Expense	1.90	30.43	0.00	-1.90	1.91	37.36	-1.85	-0.07	-1.82	47.74	8.79
Operating Cash Flow Less CapEx to Interest Expense	-1.65	27.00	-3.27	-5.34	-1.39	33.83	-4.72	-3.70	-4.40	43.96	6.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.21	0.20	0.24	0.23	0.24	0.23	0.26	0.25	0.26	0.27
Accounts Receivable Turnover	6.12	5.43	5.52	5.47	5.61	5.45	5.84	5.58	5.52	5.66	6.09
Inventory Turnover	1.73	1.66	0.00	1.49	1.49	1.54	1.50	1.50	1.54	1.66	1.60
Fixed Asset Turnover	5.59	5.20	5.06	4.89	4.88	4.86	4.84	4.71	4.71	4.84	4.91
Accounts Payable Turnover	9.92	8.90	9.21	8.54	10.06	8.90	9.82	9.06	9.73	9.89	9.20
Days Sales Outstanding (DSO)	59.69	67.20	66.06	66.74	65.03	66.95	62.45	65.41	66.12	64.51	59.96
Days Inventory Outstanding (DIO)	211.26	219.98	0.00	244.52	245.03	236.73	242.92	242.70	237.32	220.28	228.47
Days Payable Outstanding (DPO)	36.80	41.01	39.62	42.74	36.29	41.01	37.15	40.29	37.52	36.89	39.67
Cash Conversion Cycle (CCC)	234.15	246.17	26.44	268.51	273.76	262.66	268.22	267.82	265.92	247.90	248.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	633	630	581	1,258	1,059	1,267	1,227	1,381	1,463	1,012	1,178
Invested Capital Turnover	5.61	6.54	94.46	2.75	3.05	2.71	2.81	1.94	2.03	2.27	2.15
Increase / (Decrease) in Invested Capital	296	444	1,108	651	426	637	645	123	405	-255	-49
Enterprise Value (EV)	2,639	1,299	1,394	2,269	2,896	3,895	1,370	819	2,314	1,732	1,850
Market Capitalization	10,422	9,411	9,864	7,790	9,325	9,197	6,822	6,567	7,588	8,173	7,524
Book Value per Share	$289.49	$299.92	$317.38	$237.65	$268.66	$234.65	$238.46	$261.96	$248.94	$276.32	$253.84
Tangible Book Value per Share	$264.69	$274.73	$291.91	$212.43	$242.74	$209.50	$213.08	$226.01	$213.20	$248.36	$226.28
Total Capital	9,615	9,941	10,251	7,979	8,689	7,771	7,881	8,331	7,940	8,657	8,055
Total Debt	1,199	1,200	1,200	1,200	1,201	1,202	1,202	1,202	1,203	1,203	1,203
Total Long-Term Debt	1,199	1,199	1,199	1,200	1,200	1,200	1,201	1,201	1,201	1,202	803
Net Debt	-7,784	-8,111	-8,470	-5,521	-6,429	-5,302	-5,453	-5,748	-5,274	-6,441	-5,673
Capital Expenditures (CapEx)	44	42	40	42	40	43	34	46	32	46	30
Debt-free, Cash-free Net Working Capital (DFCFNWC)	825	913	944	948	931	899	871	890	902	850	861
Debt-free Net Working Capital (DFNWC)	2,589	2,526	2,595	2,570	2,559	2,564	2,531	2,264	2,321	2,391	2,426
Net Working Capital (NWC)	2,589	2,526	2,595	2,569	2,558	2,563	2,530	2,262	2,320	2,389	2,025
Net Nonoperating Expense (NNE)	-36	-272	-349	2,237	-604	757	-46	-259	388	-812	551
Net Nonoperating Obligations (NNO)	-7,784	-8,111	-8,470	-5,521	-6,429	-5,302	-5,453	-5,748	-5,274	-6,441	-5,673
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital to Revenue	30.31%	34.19%	36.24%	37.00%	36.08%	35.04%	34.27%	34.83%	35.28%	32.90%	33.24%
Debt-free Net Working Capital to Revenue	95.17%	94.56%	99.62%	100.28%	99.18%	99.89%	99.61%	88.62%	90.75%	92.54%	93.66%
Net Working Capital to Revenue	95.16%	94.55%	99.60%	100.26%	99.13%	99.84%	99.56%	88.57%	90.70%	92.49%	78.19%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.65	$11.79	$13.46	($76.26)	$23.37	($25.93)	$2.29	$11.67	($12.70)	$26.61	($19.55)
Adjusted Weighted Average Basic Shares Outstanding	29.10M	29.21M	28.52M	28.40M	27.95M	28.21M	27.94M	27.23M	26.92M	27.26M	26.96M
Adjusted Diluted Earnings per Share	$3.64	$33.63	$13.45	($76.26)	$23.34	$39.47	$2.29	$11.67	($12.70)	$26.59	($19.55)
Adjusted Weighted Average Diluted Shares Outstanding	29.22M	29.21M	28.54M	28.40M	27.99M	28.21M	27.96M	27.23M	26.92M	27.28M	26.96M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	29.15M	28.52M	28.52M	27.87M	28.00M	28.01M	27.21M	27.06M	26.97M	26.99M	26.76M
Normalized Net Operating Profit after Tax (NOPAT)	70	78	35	71	49	41	18	59	46	-92	24
Normalized NOPAT Margin	11.15%	11.42%	5.72%	11.13%	7.52%	6.12%	3.11%	9.08%	7.00%	-13.29%	4.03%
Pre Tax Income Margin	21.69%	62.90%	80.40%	-436.40%	132.61%	-136.17%	14.25%	63.54%	-66.02%	134.05%	-116.50%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.06	137.40	41.00	-226.19	71.78	144.45	7.95	33.86	-34.05	3.38	-55.08
NOPAT to Interest Expense	5.69	6.32	2.85	5.79	4.01	3.35	1.52	4.70	3.72	-7.61	1.94
EBIT Less CapEx to Interest Expense	8.51	133.98	37.73	-229.63	68.48	140.92	5.08	30.23	-36.63	-0.41	-57.51
NOPAT Less CapEx to Interest Expense	2.14	2.89	-0.42	2.35	0.71	-0.18	-1.35	1.07	1.14	-11.40	-0.49
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-200.51%	-67.27%	-134.47%	-24.67%	-51.83%	-11.04%	-13.90%	106.52%	-43.72%	38.89%	143.01%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, bulleted takeaway on Bio-Rad Laboratories (BIO) using the most recent quarterly data from the last four years (2022–2025). The focus is on revenue, profitability, cash flow, and balance-sheet strength, with quick notes on what these trends could mean for investors.

Q4 2025 revenue rose to $693.2 million, up from $667.5 million in Q4 2024, suggesting improving top-line momentum.
Q4 2025 net income attributable to common shareholders was $720 million with basic/diluted EPS of $26.61/$26.59, signaling solid quarterly profitability.
Q4 2025 pre-tax income reached $929.2 million, indicating strong earnings power before taxes in the latest quarter.
Q4 2025 net cash from operating activities was $577.7 million, highlighting robust cash generation from core operations.
Q4 2025 total common equity stood at about $6.74 billion, reflecting a strong equity base to support ongoing operations and potential investments.
Across 2022–2025, there is notable quarterly volatility in earnings driven by large swings in Other Income / (Expense), net, which can affect quarterly profitability metrics (neutral for long-term fundamentals).
Total assets show a multi-year trend: higher levels in late 2022–2023 (around $12.3B) versus end-2024 (about $9.36B), with a partial rebound into 2025 (about $9.7B by Q3 2025). This suggests some year-to-year balance-sheet fluctuation rather than a straight upward or downward trend (neutral).
Long-term investments remain substantial, contributing significantly to noncurrent assets, which may reflect strategic capital allocation (neutral).
Q3 2025 net income was negative at about -$341.9 million, driven by a large negative impact from Other Income / (Expense), net (-$496.4 million), signaling meaningful quarterly earnings volatility and a potential risk from non-operating items.
First three quarters of 2025 showed weak operating cash flow with Q3 -$22.4 million, Q2 -$0.9 million, and Q1 -$22.2 million in net cash from continuing operating activities, raising some liquidity questions for that period.

05/07/26 09:32 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Bio-Rad Laboratories' Financials

When does Bio-Rad Laboratories' fiscal year end?

According to the most recent income statement we have on file, Bio-Rad Laboratories' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Bio-Rad Laboratories' net income changed over the last 10 years?

Bio-Rad Laboratories' net income appears to be on a downward trend, with a most recent value of $759.90 million in 2025, rising from $109.24 million in 2015. The previous period was -$1.84 billion in 2024. See Bio-Rad Laboratories' forecast for analyst expectations on whatâ€™s next for the company.

What is Bio-Rad Laboratories' operating income?

Bio-Rad Laboratories' total operating income in 2025 was $47.20 million, based on the following breakdown:

Total Gross Profit: $1.34 billion
Total Operating Expenses: $1.29 billion

How has Bio-Rad Laboratories' revenue changed over the last 10 years?

Over the last 10 years, Bio-Rad Laboratories' total revenue changed from $2.02 billion in 2015 to $2.58 billion in 2025, a change of 27.9%.

How much debt does Bio-Rad Laboratories have?

Bio-Rad Laboratories' total liabilities were at $3.12 billion at the end of 2025, a 11.7% increase from 2024, and a 156.1% increase since 2015.

How much cash does Bio-Rad Laboratories have?

In the past 10 years, Bio-Rad Laboratories' cash and equivalents has ranged from $383.82 million in 2017 to $662.21 million in 2020, and is currently $529.80 million as of their latest financial filing in 2025.

How has Bio-Rad Laboratories' book value per share changed over the last 10 years?

Over the last 10 years, Bio-Rad Laboratories' book value per share changed from 84.98 in 2015 to 276.32 in 2025, a change of 225.1%.

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Financial statements for NYSE:BIO last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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