/
Bio-Rad Laboratories, Inc. (referred to in this report as Bio-Rad, we, us, the Company, and our ) is a multinational life science and clinical diagnostics company that develops, manufactures, and markets a broad portfolio of instruments, systems, reagents, and consumables. We have direct operations in over 36 countries outside the United States through subsidiaries focused on sales, cus…
Operating margin is thin at 1.83%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 0.6%, essentially flat. Margins also contracted 8.7pp. This is a business that needs a catalyst.
Operating margin contracted 8.7pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$2.59B
▲ +0.6% YoY
Net Income (TTM)
$169M
▲ +141.2% YoY
Op. Margin
2.23%
▼ -8.7pp YoY
ROIC
0.55%
▼ -1.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$357M
▲ +29.4% YoY
Op. Cash Flow (TTM)
$510M
▲ +16.9% YoY
Net Debt
-$578M
Net Cash Position
Cash & Equiv.
$1.56B
5Y CAGR: +0.3%
5Y CAGR: -4.7%
Continue Research