Azenta vs Bio-Rad Laboratories
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The short version
- Bio-Rad Laboratories is the larger business, with $2.6B of revenue in fiscal 2025 against $594M for Azenta, about 4.4 times as much.
- Azenta grew revenue faster (3.6%, against 0.7%).
- Bio-Rad Laboratories kept more of each dollar of sales as operating profit (1.8% operating margin, against −4.5%).
- Bio-Rad Laboratories turned more of its sales into free cash flow (14.5% FCF margin, against 6.5%).
| Latest fiscal year | AZTA · FY25 | BIO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.7B | $9.9B |
| Revenue | $594M | $2.6B |
| Free cash flow | $38.3M | $375M |
| Net income | −$55.8M | $760M |
| Growth | ||
| Revenue growth | 3.6% | 0.7% |
| 5-year growth | 8.9% | 0.3% |
| Share count change | −13.7% | −3.3% |
| Profitability | ||
| Gross margin | 45.5% | 51.9% |
| Operating margin | −4.5% | 1.8% |
| Net margin | −9.4% | 29.4% |
| FCF margin | 6.5% | 14.5% |
| Return on capital | — | 0.5% |
| Return on equity | −3.2% | 10.8% |
| Balance sheet | ||
| Net debt | — | −$329M |
| Net debt / EBITDA | — | −1.6x |
| Dividends and buybacks | $0.0M | $296M |
| Valuation & quality | ||
| P/E | — | 46.3x |
| Piotroski F-score | — | 5 |
Revenue
FY16
AZTA $434M
BIO $2.1B
FY17
AZTA $528M
BIO $2.2B
FY18
AZTA $632M
BIO $2.3B
FY19
AZTA $334M
BIO $2.3B
FY20
AZTA $389M
BIO $2.5B
FY21
AZTA $514M
BIO $2.9B
FY22
AZTA $556M
BIO $2.8B
FY23
AZTA $552M
BIO $2.7B
FY24
AZTA $573M
BIO $2.6B
FY25
AZTA $594M
BIO $2.6B
AZTA
BIO
Operating margin
FY16
AZTA −3.9%
BIO 2.7%
FY17
AZTA 2.7%
BIO 5.5%
FY18
AZTA 5.0%
BIO −4.5%
FY19
AZTA −14.2%
BIO 9.9%
FY20
AZTA −9.4%
BIO 16.6%
FY21
AZTA −6.1%
BIO 17.1%
FY22
AZTA −4.5%
BIO 17.2%
FY23
AZTA −11.1%
BIO 12.7%
FY24
AZTA −8.9%
BIO 10.5%
FY25
AZTA −4.5%
BIO 1.8%
AZTA
BIO
Free cash flow
FY16
AZTA $26.7M
BIO $74.6M
FY17
AZTA $83.6M
BIO −$7.2M
FY18
AZTA $61.2M
BIO $156M
FY19
AZTA $67.0M
BIO $359M
FY20
AZTA −$2.1M
BIO $476M
FY21
AZTA $97.1M
BIO $536M
FY22
AZTA −$539M
BIO $81.6M
FY23
AZTA −$33.6M
BIO $218M
FY24
AZTA $12.4M
BIO $290M
FY25
AZTA $38.3M
BIO $375M
AZTA
BIO
Return on capital
FY16
AZTA —
BIO 1.6%
FY17
AZTA —
BIO 5.0%
FY18
AZTA —
BIO −2.4%
FY19
AZTA −4.8%
BIO 4.3%
FY20
AZTA −3.0%
BIO 4.8%
FY21
AZTA −2.3%
BIO 3.6%
FY22
AZTA —
BIO 3.5%
FY23
AZTA —
BIO 3.1%
FY24
AZTA —
BIO 2.9%
FY25
AZTA —
BIO 0.5%
AZTA
BIO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.