Bio-Rad Laboratories, Inc.

BIOUS

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, and Latin America. The company is organized into two primary divisions: Life Science and Clinical Diagnostics. The Life Science division is responsible for developing, manufacturing, and commercializing a diverse array of reagents, equipment, and laboratory instruments. These products are crucial for various research methodologies, biopharmaceutical manufacturing processes, and food quality testing. This segment focuses on specialized areas within the life sciences, including proteomics, genomics, biopharmaceutical production, cellular biology, and food safety. Its clientele encompasses academic institutions (such as universities and medical schools), industrial research organizations, government agencies, pharmaceutical companies, biotechnology firms, food producers, and food testing laboratories. In contrast, the Clinical Diagnostics division designs, produces, sells, and supports a comprehensive suite of test systems, informatics solutions, diagnostic kits, and specialized quality control products for clinical laboratories. This segment provides reagents, instruments, and software specifically tailored for particular niches within the in vitro diagnostics market. Its customer base includes reference laboratories, hospital laboratories, state newborn screening facilities, physicians' office laboratories, and transfusion laboratories. Beyond these core segments, Bio-Rad also offers systems and products designed to separate complex chemical and biological materials, as well as to identify, analyze, and purify their individual components. The company distributes its extensive product portfolio through a combination of its direct sales force and a network of third-party distributors, agents, brokers, and resellers.

Founded1952IPO year1980As of2026-08-04
Market Cap
$9.03B
Enterprise Value
$8.84B
EV / LTM Revenue
3.4x
EV / NTM Revenue
3.4x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
3.4x
Gross Profit
6.5x
EBITDA
Classification
Sector
Medical Devices & Diagnostics
Sub-sector
Life-Science Instruments & Consumables
Listing
BIO
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY-4%-5%-4%1%-0%3%
Revenue$2.92B$2.80B$2.67B$2.57B$2.58B$2.57B$2.66B
Gross Profit$1.64B$1.57B$1.43B$1.38B$1.34B
Gross Profit Margin56.1%56.0%53.4%53.7%51.9%
EBITDA$5.60B($4.51B)($596M)($2.10B)$1.24B($307M)($317M)
EBITDA Margin191.7%-160.9%-22.3%-81.9%48.0%-11.9%-11.9%
EBIT$489M$478M$340M$276M$229M($406M)($420M)
Net Income$4.25B($3.63B)($637M)($1.84B)$760M$246M$272M
Free Cash Flow$536M$80M$218M$266M$375M
FCF Margin18.3%2.9%8.2%10.4%14.5%
Short-Term Debt$0.49M$0.47M$0.49M$1M$38M
Long-Term Debt$11M$1.20B$1.20B$1.20B$1.34B
Cash & Cash Equivalents$471M$434M$404M$488M$532M
Net Debt($460M)$764M$796M$714M$845M
Net Debt / EBITDA-0.1x0.7x
Rule of 40-1.3%3.5%6.5%15.2%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.