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Bio-Rad Laboratories

NYSE:BIO
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BIO
NYSE
$9B
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Bio-Rad Laboratories, Inc. develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The last earnings update was 73 days ago. More info.


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BIO Share Price and Events
7 Day Returns
-0.2%
NYSE:BIO
-0.7%
US Life Sciences
-1.2%
US Market
1 Year Returns
1.1%
NYSE:BIO
19.1%
US Life Sciences
3.3%
US Market
BIO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bio-Rad Laboratories (BIO) -0.2% 2.3% 5.6% 1.1% 117.5% 164.9%
US Life Sciences -0.7% -4.2% 5% 19.1% 80.6% 108.7%
US Market -1.2% 0.8% 0.9% 3.3% 35.9% 41.7%
1 Year Return vs Industry and Market
  • BIO underperformed the Life Sciences industry which returned 19.1% over the past year.
  • BIO underperformed the Market in United States of America which returned 3.3% over the past year.
Price Volatility
BIO
Industry
5yr Volatility vs Market

Value

 Is Bio-Rad Laboratories undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bio-Rad Laboratories to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bio-Rad Laboratories.

NYSE:BIO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BIO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Life Sciences Unlevered Beta Simply Wall St/ S&P Global 1.02
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.02 (1 + (1- 21%) (7.3%))
1.053
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.053 * 5.96%)
9.01%

Discounted Cash Flow Calculation for NYSE:BIO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Bio-Rad Laboratories is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:BIO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.01%)
2020 312.93 Analyst x2 287.07
2021 345.28 Analyst x2 290.58
2022 371.88 Est @ 7.71% 287.11
2023 394.99 Est @ 6.21% 279.75
2024 415.40 Est @ 5.17% 269.90
2025 433.83 Est @ 4.44% 258.58
2026 450.85 Est @ 3.92% 246.53
2027 466.93 Est @ 3.57% 234.22
2028 482.41 Est @ 3.32% 221.99
2029 497.56 Est @ 3.14% 210.04
Present value of next 10 years cash flows $2,585.77
NYSE:BIO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $497.56 × (1 + 2.73%) ÷ (9.01% – 2.73%)
$8,143.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,143.44 ÷ (1 + 9.01%)10
$3,437.76
NYSE:BIO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,585.77 + $3,437.76
$6,023.53
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,023.53 / 29.82
$202
NYSE:BIO Discount to Share Price
Calculation Result
Value per share (USD) From above. $202.00
Current discount Discount to share price of $311.62
= -1 x ($311.62 - $202.00) / $202.00
-54.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Bio-Rad Laboratories is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bio-Rad Laboratories's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bio-Rad Laboratories's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BIO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $19.24
NYSE:BIO Share Price ** NYSE (2019-07-22) in USD $311.62
United States of America Life Sciences Industry PE Ratio Median Figure of 22 Publicly-Listed Life Sciences Companies 39.39x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.86x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bio-Rad Laboratories.

NYSE:BIO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BIO Share Price ÷ EPS (both in USD)

= 311.62 ÷ 19.24

16.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bio-Rad Laboratories is good value based on earnings compared to the US Life Sciences industry average.
  • Bio-Rad Laboratories is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Bio-Rad Laboratories's expected growth come at a high price?
Raw Data
NYSE:BIO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-22.6%per year
United States of America Life Sciences Industry PEG Ratio Median Figure of 20 Publicly-Listed Life Sciences Companies 2.7x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:BIO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.2x ÷ -22.6%

-0.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bio-Rad Laboratories earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Bio-Rad Laboratories's assets?
Raw Data
NYSE:BIO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $163.11
NYSE:BIO Share Price * NYSE (2019-07-22) in USD $311.62
United States of America Life Sciences Industry PB Ratio Median Figure of 38 Publicly-Listed Life Sciences Companies 4.69x
United States of America Market PB Ratio Median Figure of 5,248 Publicly-Listed Companies 1.79x
NYSE:BIO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BIO Share Price ÷ Book Value per Share (both in USD)

= 311.62 ÷ 163.11

1.91x

* Primary Listing of Bio-Rad Laboratories.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bio-Rad Laboratories is good value based on assets compared to the US Life Sciences industry average.
X
Value checks
We assess Bio-Rad Laboratories's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Life Sciences industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Life Sciences industry average (and greater than 0)? (1 check)
  5. Bio-Rad Laboratories has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Bio-Rad Laboratories expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-22.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bio-Rad Laboratories expected to grow at an attractive rate?
  • Bio-Rad Laboratories's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Bio-Rad Laboratories's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Bio-Rad Laboratories's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BIO Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BIO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -22.6%
NYSE:BIO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4%
United States of America Life Sciences Industry Earnings Growth Rate Market Cap Weighted Average 16.2%
United States of America Life Sciences Industry Revenue Growth Rate Market Cap Weighted Average 7.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BIO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BIO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 2,551 468 303 2
2020-12-31 2,451 431 258 3
2019-12-31 2,354 343 218 3
NYSE:BIO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,292 288 574
2018-12-31 2,289 285 366
2018-09-30 2,294 250 1,277
2018-06-30 2,283 216 1,030
2018-03-31 2,212 201 767
2017-12-31 2,160 104 122
2017-09-30 2,110 130 17
2017-06-30 2,085 153 13
2017-03-31 2,097 168 26
2016-12-31 2,068 216 26
2016-09-30 2,067 157 98
2016-06-30 2,028 188 97

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bio-Rad Laboratories's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Bio-Rad Laboratories's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BIO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Bio-Rad Laboratories Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BIO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
NYSE:BIO Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 19.24
2018-12-31 12.25
2018-09-30 42.84
2018-06-30 34.60
2018-03-31 25.81
2017-12-31 4.12
2017-09-30 0.57
2017-06-30 0.45
2017-03-31 0.89
2016-12-31 0.88
2016-09-30 3.34
2016-06-30 3.31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Bio-Rad Laboratories is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bio-Rad Laboratories's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bio-Rad Laboratories has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Bio-Rad Laboratories performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bio-Rad Laboratories's growth in the last year to its industry (Life Sciences).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bio-Rad Laboratories has delivered over 20% year on year earnings growth in the past 5 years.
  • Bio-Rad Laboratories's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bio-Rad Laboratories's 1-year earnings growth is negative, it can't be compared to the US Life Sciences industry average.
Earnings and Revenue History
Bio-Rad Laboratories's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bio-Rad Laboratories Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BIO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,291.88 574.04 837.43 197.04
2018-12-31 2,289.42 365.61 840.68 198.90
2018-09-30 2,293.86 1,276.88 832.98 200.41
2018-06-30 2,282.87 1,029.62 825.41 212.64
2018-03-31 2,211.62 766.61 826.92 227.03
2017-12-31 2,160.15 122.25 819.39 227.06
2017-09-30 2,110.31 16.82 819.27 231.66
2017-06-30 2,084.92 13.16 813.79 219.51
2017-03-31 2,097.03 26.14 798.33 206.73
2016-12-31 2,068.17 26.00 785.82 205.71
2016-09-30 2,067.28 98.18 776.11 204.21
2016-06-30 2,028.49 97.14 771.51 197.62
2016-03-31 2,017.82 107.55 768.14 194.36
2015-12-31 2,019.44 109.24 761.99 192.97
2015-09-30 2,047.11 102.65 769.40 193.27
2015-06-30 2,107.79 96.79 787.45 202.72
2015-03-31 2,138.52 100.00 795.88 211.89
2014-12-31 2,175.04 88.85 809.60 219.73
2014-09-30 2,179.46 79.94 828.08 216.89
2014-06-30 2,153.88 61.34 824.77 217.03
2014-03-31 2,142.37 64.31 820.23 213.15
2013-12-31 2,132.69 77.79 803.87 210.95
2013-09-30 2,103.90 90.91 773.81 213.67
2013-06-30 2,097.53 140.88 739.33 206.13
2013-03-31 2,082.63 154.62 712.50 206.62
2012-12-31 2,069.24 165.48 697.88 209.20
2012-09-30 2,045.63 181.46 683.82 200.75

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Bio-Rad Laboratories has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bio-Rad Laboratories used its assets more efficiently than the US Life Sciences industry average last year based on Return on Assets.
  • Bio-Rad Laboratories's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bio-Rad Laboratories's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Life Sciences industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bio-Rad Laboratories has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Bio-Rad Laboratories's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Bio-Rad Laboratories's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bio-Rad Laboratories is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bio-Rad Laboratories's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bio-Rad Laboratories's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bio-Rad Laboratories Company Filings, last reported 3 months ago.

NYSE:BIO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,863.86 423.90 858.99
2018-12-31 4,020.33 423.70 844.80
2018-09-30 4,900.48 423.60 860.57
2018-06-30 4,638.95 423.40 818.25
2018-03-31 4,488.09 434.68 762.93
2017-12-31 2,930.25 423.10 754.98
2017-09-30 2,848.45 422.90 716.46
2017-06-30 2,811.00 422.80 712.85
2017-03-31 2,707.47 422.60 674.08
2016-12-31 2,579.16 422.50 839.44
2016-09-30 2,702.69 422.30 806.12
2016-06-30 2,614.56 422.20 791.60
2016-03-31 2,544.45 422.00 748.66
2015-12-31 2,490.50 421.90 786.27
2015-09-30 2,429.73 423.60 786.08
2015-06-30 2,358.90 423.60 727.65
2015-03-31 2,198.51 423.50 710.69
2014-12-31 2,185.16 423.50 697.64
2014-09-30 2,176.73 424.61 702.58
2014-06-30 2,249.94 424.83 647.58
2014-03-31 2,232.60 424.83 641.33
2013-12-31 2,186.72 424.79 608.92
2013-09-30 2,124.24 424.71 561.82
2013-06-30 2,070.94 721.89 834.43
2013-03-31 2,031.22 721.68 836.83
2012-12-31 2,015.54 721.55 921.07
2012-09-30 1,935.48 719.81 853.62
  • Bio-Rad Laboratories's level of debt (9.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (19.6% vs 9.3% today).
  • Debt is well covered by operating cash flow (63.8%, greater than 20% of total debt).
  • Bio-Rad Laboratories earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Bio-Rad Laboratories's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bio-Rad Laboratories has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Bio-Rad Laboratories's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Bio-Rad Laboratories dividends.
If you bought $2,000 of Bio-Rad Laboratories shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Bio-Rad Laboratories's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Bio-Rad Laboratories's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BIO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Life Sciences Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 0.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BIO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Bio-Rad Laboratories has not reported any payouts.
  • Unable to verify if Bio-Rad Laboratories's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Bio-Rad Laboratories's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Bio-Rad Laboratories has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Bio-Rad Laboratories's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bio-Rad Laboratories afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bio-Rad Laboratories has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Bio-Rad Laboratories's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Norman Schwartz
COMPENSATION $7,639,414
AGE 69
TENURE AS CEO 16.5 years
CEO Bio

Mr. Norman D. Schwartz has been the Chief Executive Officer and President of Bio-Rad Laboratories, Inc. since January 1, 2003 and has been its Chairman since 2012. Mr. Schwartz served as Vice President of Bio-Rad Laboratories, Inc. from 1989 to December 2002 and served as its Group Manager of Life Science from 1997 to December 2002. He served as Group Manager of Clinical Diagnostics at Bio-Rad Laboratories, Inc. from 1993 to 1997. Mr. Schwartz has been a Director of Bio-Rad Laboratories, Inc. since 1995.

CEO Compensation
  • Norman's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Norman's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Bio-Rad Laboratories management team in years:

4.6
Average Tenure
62
Average Age
  • The tenure for the Bio-Rad Laboratories management team is about average.
Management Team

Norman Schwartz

TITLE
Chairman
COMPENSATION
$8M
AGE
69
TENURE
16.5 yrs

John Hertia

TITLE
Executive VP & President of Clinical Diagnostics Group
COMPENSATION
$2M
AGE
63
TENURE
4.9 yrs

Mike Crowley

TITLE
Executive Vice President of Global Commercial Operations
COMPENSATION
$2M
AGE
57
TENURE
4.6 yrs

Annette Tumolo

TITLE
Executive VP & President of Life Science Group
COMPENSATION
$2M
AGE
64
TENURE
1.8 yrs

Ilan Daskal

TITLE
Executive VP & CFO
AGE
53
TENURE
0.3 yrs

Andy Last

TITLE
Executive VP & COO
AGE
59
TENURE
0.3 yrs

Timothy Ernst

TITLE
Executive VP
AGE
59
TENURE
3.1 yrs

John Goetz

TITLE
Consultant
COMPENSATION
$3M
AGE
69
TENURE
7.5 yrs

Jim Stark

TITLE
VP & Corporate Controller

Giovanni Magni

TITLE
Executive VP & Chief Strategy Officer
COMPENSATION
$1M
AGE
62
TENURE
4.9 yrs
Board of Directors Tenure

Average tenure and age of the Bio-Rad Laboratories board of directors in years:

2.4
Average Tenure
65
Average Age
  • The average tenure for the Bio-Rad Laboratories board of directors is less than 3 years, this suggests a new board.
Board of Directors

Norman Schwartz

TITLE
Chairman
COMPENSATION
$8M
AGE
69
TENURE
7.5 yrs

Jeff Edwards

TITLE
Director
COMPENSATION
$140K
AGE
58
TENURE
2.3 yrs

Melinda Pei

TITLE
Director
COMPENSATION
$143K
AGE
61
TENURE
2.5 yrs

Arnie Pinkston

TITLE
Director
COMPENSATION
$130K
AGE
60
TENURE
2.3 yrs

Greg Hinckley

TITLE
Lead Independent Director
COMPENSATION
$150K
AGE
72
TENURE
2.3 yrs

Alice Schwartz

TITLE
Director
COMPENSATION
$120K
AGE
92
TENURE
52.5 yrs
Who owns this company?
Recent Insider Trading
  • Bio-Rad Laboratories individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
16. May 19 Sell Timothy Ernst Individual 15. May 19 16. May 19 -846 $299.31 $-249,887
17. Dec 18 Sell Christine Tsingos Individual 14. Dec 18 14. Dec 18 -1,411 $248.00 $-349,928
15. Dec 18 Sell Michael Crowley Individual 14. Dec 18 14. Dec 18 -392 $248.03 $-97,228
12. Dec 18 Sell James Stark Individual 12. Dec 18 12. Dec 18 -848 $254.77 $-216,045
12. Dec 18 Sell Annette Tumolo Individual 11. Dec 18 11. Dec 18 -1,176 $254.00 $-298,704
X
Management checks
We assess Bio-Rad Laboratories's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bio-Rad Laboratories has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Does Bio-Rad Laboratories, Inc.'s (NYSE:BIO) CEO Pay Compare Well With Peers?

How Does Norman Schwartz's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$9.5b, and pays its CEO total annual compensation worth US$5.4m. … While we always look at total compensation first, we note that the salary component is less, at US$922k

Simply Wall St -

Bio-Rad Laboratories, Inc. (NYSE:BIO) Delivered A Better ROE Than Its Industry

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every $1 worth of shareholders' equity, it generated $0.26 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Think About Buying Bio-Rad Laboratories, Inc. (NYSE:BIO) Now?

received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to $283.2 at one point, and dropping to the lows of $220.1. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether Bio-Rad Laboratories's current trading price of $239.3 reflective of the actual value of the?

Simply Wall St -

How Many Insiders Sold Bio-Rad Laboratories, Inc. (NYSE:BIO) Shares?

The Last 12 Months Of Insider Transactions At Bio-Rad Laboratories. … So we know that an insider sold shares at around the present share price of US$237. … In total, Bio-Rad Laboratories insiders sold more than they bought over the last year

Simply Wall St -

Bio-Rad Laboratories, Inc. (NYSE:BIO): How To Win In A Volatile Market

Today I want to bring to light the market's darling - Bio-Rad Laboratories, Inc.. … Looking at its size, financial health and track record, I believe there's an opportunity with Bio-Rad Laboratories during these volatile times. … develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally

Simply Wall St -

Has Bio-Rad Laboratories Inc (NYSE:BIO) Got Enough Cash?

Mid-caps stocks, like Bio-Rad Laboratories Inc (NYSE:BIO) with a market capitalization of US$8.3b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … BIO’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … Check out our latest analysis for Bio-Rad Laboratories

Simply Wall St -

These Fundamentals Make Bio-Rad Laboratories Inc (NYSE:BIO) Truly Worth Looking At

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … is a company with great financial health as well as a.

Simply Wall St -

Is Bio-Rad Laboratories Inc's (NYSE:BIO) ROE Of 22% Impressive?

Bio-Rad Laboratories has a ROE of 22%, based on the last twelve months. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.22 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Bio-Rad Laboratories Inc (NYSE:BIO) Potentially Undervalued?

Bio-Rad Laboratories Inc (NYSE:BIO), which is in the life sciences business, and is based in United States,. … A question to answer is whether Bio-Rad Laboratories's current trading price of $280.96 reflective of the actual value of the? … Let’s take a look at Bio-Rad Laboratories’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Is Bio-Rad Laboratories Inc's (NYSE:BIO) PE Ratio A Signal To Buy For Investors?

Bio-Rad Laboratories Inc (NYSE:BIO) is trading with a trailing P/E of 9.1x, which is lower than the industry average of 41.9x. … While this makes BIO appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio. … Check out our latest analysis for Bio-Rad Laboratories

Simply Wall St -

Company Info

Description

Bio-Rad Laboratories, Inc. develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components. It operates through two segments, Life Science and Clinical Diagnostics. The Life Science segment develops, manufactures, and markets a range of reagents, apparatus, and laboratory instruments that are used in research techniques, biopharmaceutical production processes, and food testing regimes. It focuses on selected segments of the life sciences market in proteomics, genomics, biopharmaceutical production, cell biology, and food safety. This segment serves universities and medical schools, industrial research organizations, government agencies, pharmaceutical manufacturers, biotechnology researchers, food producers, and food testing laboratories. The Clinical Diagnostics segment designs, manufactures, sells, and supports test systems, informatics systems, test kits, and specialized quality controls for clinical laboratories in the diagnostics market. This segment offers reagents, instruments, and software, which address specific niches within the in vitro diagnostics test market. It sells its products to reference laboratories, hospital laboratories, state newborn screening facilities, physicians’ office laboratories, transfusion laboratories, and insurance and forensic testing laboratories. The company offers its products through its direct sales force, as well as through distributors, agents, brokers, and resellers. Bio-Rad Laboratories, Inc. was founded in 1952 and is headquartered in Hercules, California.

Details
Name: Bio-Rad Laboratories, Inc.
BIO
Exchange: NYSE
Founded: 1952
$9,292,023,626
29,820,077
Website: http://www.bio-rad.com
Address: Bio-Rad Laboratories, Inc.
1000 Alfred Nobel Drive,
Hercules,
California, 94547,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BIO Class A Common Stock New York Stock Exchange US USD 27. Feb 1980
DB BUWA Class A Common Stock Deutsche Boerse AG DE EUR 27. Feb 1980
NYSE BIO.B Class B Common Stock New York Stock Exchange US USD 18. Oct 1974
Number of employees
Current staff
Staff numbers
8,260
Bio-Rad Laboratories employees.
Industry
Life Sciences Tools and Services
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 23:33
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.