Restructuring and cost reductionsnegative · 5 filings
“The increase in SG&A expense was primarily due to foreign exchange impact resulting from a weaker U.S.”10-Q · Aug 4, 2026 ↗
Bio-Rad Laboratories, Inc.
BIO
Market read
Bio-Rad Laboratories, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 39 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
What changed
- Net income increased 16.9% versus the comparable filing period.
- Revenue decreased 0.1% versus the comparable filing period.
Company-2.3% todayVolume comparison unavailable
Market group0 of 39 activeDiagnostics & Defense · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- BIO's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if BIO's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 39 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
Evidence that supports
- Net income increased 16.9% versus the comparable filing period.
Evidence that challenges
- Revenue decreased 0.1% versus the comparable filing period.
- Operating margin fell 0.7 percentage points.
What would clarify the read
- BIO's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements84
Verified relationships10
Evidence supporting the case
- Net margin changed +101.3 percentage points in the latest annual period.
Evidence challenging the case
- Operating margin changed -8.7 percentage points in the latest annual period.
- Restructuring and cost reductions has repeated adverse evidence across 5 filings.
Questions before a position
- P/E is 51% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
368.646m+36.6%12m+28.9%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.9B+14.8%$140.83+0.2%
2022-12-31$2.8B-4.1%$-121.79-1.4%
2023-12-31$2.7B-4.7%$-21.82-1.9%
2024-12-31$2.6B-3.9%$-65.36-3.4%
2025-12-31$2.6B+0.7%$27.85-3.3%
What management says matters
Persistent and emerging business drivers
Foreign exchangenegative · 3 filings
“Gains and losses are primarily due to the timing of product shipments and intercompany debt payments, market volatility, and the change in the fair value of our foreign exchange contracts.”10-Q · Aug 4, 2026 ↗
Demand and volumemixed · 1 filings
“The currency neutral sales decrease was primarily driven by lowered reimbursements for diabetes testing in China, partially offset by increased demand for our quality control products.”10-Q · Jul 31, 2025 ↗
Energy and commodity pricesnegative · 1 filings
“The increase in gross margin was primarily driven by reduced inventory scrap and lower restructuring costs, partially offset by higher logistics costs associated with elevated fuel prices.”10-Q · Apr 30, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.9× · EV/sales 4.2×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
368.64-2.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BIO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
The latest filing shows material pressure
10-Q filed 2026-08-04 against the comparable filing from 2025-07-31.
OperationscautiousEvidence score -2
liquidityneutralEvidence score 0
valuationmixed
Capital and cash conversion
Reported investment and cash context
- Capital spending YoY
- -22.6%
- Capital spending / revenue
- +5.0%
- Free-cash-flow margin
- +11.6%
- FCF margin change
- -1.8 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Net income increased 16.9% versus the comparable filing period.
What weakened
- Revenue decreased 0.1% versus the comparable filing period.
- Operating margin fell 0.7 percentage points.
Filing receipts
“The change is primarily due to the timing of our purchases, maturities and sales of marketable securities and investments partially offset by net cash outflows for the acquisition of Stilla on June 30, 2025.”
“The increase in SG&A expense was primarily due to foreign exchange impact resulting from a weaker U.S. dollar on our international cost base, partially offset by lower restructuring costs.”
“Gains and losses are primarily due to the timing of product shipments and intercompany debt payments, market volatility, and the change in the fair value of our foreign exchange contracts. (Gains) losses from change in fair market value of equity securities and loan receivable was a loss of $280.2 million and gain of $366.2 million for the first six months of 2026 and 2025, respectively.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind BIO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
SOAGYFiling-linked nameinvesteeApr 30, 2026 ▾
“The change in the fair market value primarily resulted from the recognition of holding losses of $727.7 million in the first quarter of 2026 compared to holding gains of $29.0 million in the first quarter of 2025 on our investment in Sartorius.”
ABTAbbott LaboratoriescompetitorFeb 13, 2026 ▾
“Major competitors for our products in the Clinical Diagnostics segment include Abbott Laboratories, Becton Dickinson, bioMérieux, Danaher, DiaSorin, Werfen, QuidelOrtho, Roche, Siemens Healthineers, Thermo Fisher Scientific and Tosoh.”
Depended on by
QDELQuidelOrtho CorporationcompetitorFeb 19, 2026 ▾
“Some of our principal competitors include, among others, Abbott Laboratories, bioMérieux, Bio-Rad, Danaher, Diasorin, Hologic, Qiagen, Revvity, Roche, Siemens Healthineers, Thermo Fisher Scientific, Waters Corporation (acquired BD Diagnostics division) and We…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 11 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BIO is currently a Follower in the organic co-movement group Diagnostics & Defense. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for BIO; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.