Bio-Techne Corp (TECH)
Return on total capital
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 133,848 | 202,548 | 234,287 | 236,584 | 246,400 | 261,162 | 268,020 | 294,182 | 297,722 | 274,920 | 282,488 | 274,075 | 277,432 | 231,048 | 215,027 | 202,581 | 189,368 | 238,835 | 215,879 | 196,551 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,918,810 | 2,018,020 | 2,078,490 | 2,138,650 | 2,068,850 | 2,014,380 | 1,963,560 | 1,997,750 | 1,966,520 | 1,889,690 | 1,827,110 | 1,751,150 | 1,701,010 | 1,713,320 | 1,702,530 | 1,646,960 | 1,571,230 | 1,547,940 | 1,530,850 | 1,439,280 |
| Return on total capital | 6.98% | 10.04% | 11.27% | 11.06% | 11.91% | 12.96% | 13.65% | 14.73% | 15.14% | 14.55% | 15.46% | 15.65% | 16.31% | 13.49% | 12.63% | 12.30% | 12.05% | 15.43% | 14.10% | 13.66% |
June 30, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $133,848K ÷ ($—K + $1,918,810K)
= 6.98%
The analysis of Bio-Techne Corp's return on total capital (ROTC) over the specified period reveals fluctuations indicative of operational performance and capital efficiency dynamics. Initially, the ROTC was approximately 13.7% at the end of September 2020, showing a slight upward trend through December 2020 to 14.1%, and further increasing to 15.43% by March 2021. This period suggests enhanced effectiveness in utilizing total capital to generate returns.
Subsequently, the ROTC experienced a decline to 12.05% in June 2021 and remained relatively stable into September 2021 at 12.3%, with a modest upward movement to 12.63% in December 2021. The recovery continued into early 2022, reaching approximately 13.49% in March, and then a more notable increase to 16.31% in June 2022, which may reflect improved operational efficiencies or strategic gains.
The subsequent periods demonstrate slight fluctuations, maintaining the ROTC in a range between approximately 15.65% and 15.46% through September 2022 and December 2022. A modest decline occurred afterward, with the ROTC at 14.55% in March 2023 and slightly rising again to 15.14% in June 2023 before decreasing marginally to 14.73% in September 2023.
From late 2023 into mid-2024, a downward trend is observable, with the ROTC decreasing from 13.65% in December 2023 to 12.96% in March 2024, followed by further declines to 11.91% in June 2024 and 11.06% in September 2024. There was a slight uptick to 11.27% at the end of 2024, but the overall trend continues downward through the first half of 2025, with the ROTC reaching approximately 10.04% in March 2025 and a significant decline to 6.98% in June 2025.
Overall, the data depicts periods of growth and contraction in Bio-Techne’s ability to generate returns from its total capital base. The earlier years evidenced relatively higher and more stable returns, which gradually diminished over time, particularly from late 2023 onward, culminating in a notable decline approaching mid-2025. These trends could be influenced by factors such as market conditions, investment strategies, internal operational efficiencies, or industry-specific dynamics impacting the company's profitability relative to its total capital deployment.
Peer comparison
Jun 30, 2025