VIVO · Meridian Bioscience Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 | Q1 '21 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $56.90M | $67.77M | $111.23M | $88.34M | $63.51M | $85.26M | $92.92M | $84.80M | $57.30M | $47.42M |
| Cost of Revenue | $25.40M | $31.04M | $42.75M | $39.18M | $26.40M | $27.49M | $31.37M | $28.95M | $22.84M | $19.98M |
| Gross Profit | $31.50M | $36.73M | $68.48M | $49.16M | $37.11M | $57.77M | $61.55M | $55.85M | $34.45M | $27.44M |
| R&D | $6.18M | $6.04M | $5.69M | $6.19M | $6.08M | $6.07M | $5.65M | $6.74M | $5.39M | $4.82M |
| SG&A | $11.07M | $13.15M | $18.55M | $14.66M | $11.96M | $12.93M | $11.94M | $12.44M | $10.48M | $8.76M |
| Total Operating Expenses | $59.62M | $43.41M | $32.34M | $28.88M | $21.43M | $23.57M | $26.88M | $21.19M | $22.66M | $22.05M |
| D&A | $1.64M | - | - | $1.70M | - | - | $1.51M | - | - | $1.22M |
| Operating Income | ($28.11M) | ($6.68M) | $36.14M | $20.28M | $15.68M | $34.20M | $34.66M | $34.66M | $11.79M | $5.39M |
| Interest Expense | $148.0K | $256.0K | $341.0K | $372.0K | $444.0K | $472.0K | $534.0K | $703.0K | $532.0K | $767.0K |
| Income Tax | $724.0K | $736.0K | $7.78M | $4.41M | $3.63M | $6.75M | $7.47M | $7.37M | $3.29M | $1.20M |
| Net Income | ($29.82M) | ($7.34M) | $28.75M | $15.34M | $11.67M | $26.30M | $26.78M | $27.51M | $9.36M | $2.83M |
| EPS - Basic | ($6.80) | ($1.70) | $6.60 | $3.50 | $2.70 | $6.10 | $6.20 | $6.40 | $2.20 | $0.70 |
| EPS - Diluted | ($6.80) | ($1.60) | $6.50 | $3.50 | $2.60 | $6.00 | $6.10 | $6.40 | $2.20 | $0.70 |
Balance Sheet
| Line item | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 | Q1 '21 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $74.10M | $81.45M | $76.49M | $72.73M | $49.77M | $63.37M | $63.19M | $53.51M | $49.55M | $68.56M |
| Accounts Receivable | $41.57M | $47.23M | $59.22M | $44.30M | $53.57M | $44.90M | $40.94M | $38.51M | $40.18M | $35.32M |
| Inventory | $72.66M | $67.81M | $70.93M | $74.20M | $76.84M | $72.53M | $67.24M | $61.26M | $41.01M | $42.83M |
| Accounts Payable | $14.41M | $17.76M | $15.68M | $16.29M | $11.70M | $16.71M | $15.35M | $11.97M | $7.88M | $7.93M |
| Current Assets | $201.53M | $210.60M | $217.56M | $203.65M | $192.81M | $188.29M | $177.62M | $162.19M | $136.59M | $152.43M |
| Total Assets | $456.76M | $463.10M | $471.81M | $458.64M | $449.72M | $439.17M | $423.93M | $405.26M | $319.07M | $338.13M |
| Current Liabilities | $78.58M | $57.95M | $56.47M | $49.95M | $47.16M | $50.31M | $53.83M | $52.52M | $37.88M | $34.85M |
| Long-term Debt | $25.00M | $25.00M | $25.00M | $50.00M | $60.00M | $50.00M | $58.82M | $68.82M | $48.82M | $75.82M |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $340.54M | $368.06M | $374.63M | $345.22M | $328.30M | $309.47M | $278.87M | $247.63M | $204.53M | $197.29M |
| Retained Earnings | $193.34M | $223.16M | $224.79M | $196.04M | $180.70M | $162.38M | $136.07M | $109.29M | $75.29M | $65.94M |
Cash Flow
| Line item | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 | Q1 '21 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.35M) | - | - | $35.55M | - | - | $25.12M | - | - | $5.29M |
| Investing Cash Flow | ($4.65M) | - | - | ($1.71M) | - | - | ($7.09M) | - | - | ($340.0K) |
| Financing Cash Flow | ($2.52M) | - | - | ($11.09M) | - | - | ($10.00M) | - | - | - |
| CapEx | $2.65M | - | - | $1.71M | - | - | $2.09M | - | - | $340.0K |
| Free Cash Flow | ($5.00M) | - | - | $33.85M | - | - | $23.04M | - | - | $4.95M |
Ratios
| Metric | Q1 '23 | Q3 '22 | Q2 '22 | Q1 '22 | Q3 '21 | Q2 '21 | Q1 '21 | Q3 '20 | Q2 '20 | Q1 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 55.4% | 54.2% | 61.6% | 55.6% | 58.4% | 67.8% | 66.2% | 65.9% | 60.1% | 57.9% |
| Operating margin | -49.4% | -9.9% | 32.5% | 23.0% | 24.7% | 40.1% | 37.3% | 40.9% | 20.6% | 11.4% |
| EBITDA margin | -46.5% | - | - | 24.9% | - | - | 38.9% | - | - | 13.9% |
| Net margin | -52.4% | -10.8% | 25.8% | 17.4% | 18.4% | 30.8% | 28.8% | 32.4% | 16.3% | 6.0% |
| Free cash flow margin | -8.8% | - | - | 38.3% | - | - | 24.8% | - | - | 10.4% |
| FCF / Net income | 0.17 | - | - | 2.21 | - | - | 0.86 | - | - | 1.75 |
| R&D / Revenue | 10.9% | 8.9% | 5.1% | 7.0% | 9.6% | 7.1% | 6.1% | 8.0% | 9.4% | 10.2% |
| SG&A / Revenue | 19.5% | 19.4% | 16.7% | 16.6% | 18.8% | 15.2% | 12.8% | 14.7% | 18.3% | 18.5% |
| Effective tax rate | - | - | 21.3% | 22.3% | 23.7% | 20.4% | 21.8% | 21.1% | 26.0% | 29.8% |
| Return on assets | -6.5% | -1.6% | 6.1% | 3.3% | 2.6% | 6.0% | 6.3% | 6.8% | 2.9% | 0.8% |
| Return on equity | -8.8% | -2.0% | 7.7% | 4.4% | 3.6% | 8.5% | 9.6% | 11.1% | 4.6% | 1.4% |
| Return on invested capital | -6.1% | -1.3% | 7.1% | 4.0% | 3.1% | 7.6% | 8.0% | 8.6% | 3.4% | 1.4% |
| Liquidity | ||||||||||
| Current ratio | 2.56 | 3.63 | 3.85 | 4.08 | 4.09 | 3.74 | 3.30 | 3.09 | 3.61 | 4.37 |
| Quick ratio | 1.64 | 2.46 | 2.60 | 2.59 | 2.46 | 2.30 | 2.05 | 1.92 | 2.52 | 3.14 |
| Cash ratio | 0.94 | 1.41 | 1.35 | 1.46 | 1.06 | 1.26 | 1.17 | 1.02 | 1.31 | 1.97 |
| Leverage | ||||||||||
| Debt / Equity | 0.07 | 0.07 | 0.07 | 0.14 | 0.18 | 0.16 | 0.21 | 0.28 | 0.24 | 0.38 |
| Debt / Assets | 0.05 | 0.05 | 0.05 | 0.11 | 0.13 | 0.11 | 0.14 | 0.17 | 0.15 | 0.22 |
| Debt / EBITDA | - | - | - | 2.27 | - | - | 1.63 | - | - | 11.47 |
| Interest coverage | -190.0x | -26.1x | 106.0x | 54.5x | 35.3x | 72.5x | 64.9x | 49.3x | 22.2x | 7.0x |
| Equity multiplier | 1.34 | 1.26 | 1.26 | 1.33 | 1.37 | 1.42 | 1.52 | 1.64 | 1.56 | 1.71 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | 0.15 | 0.24 | 0.19 | 0.14 | 0.19 | 0.22 | 0.21 | 0.18 | 0.14 |
| Inventory turnover | 0.35 | 0.46 | 0.60 | 0.53 | 0.34 | 0.38 | 0.47 | 0.47 | 0.56 | 0.47 |
| Days sales outstanding | 267d | 254d | 194d | 183d | 308d | 192d | 161d | 166d | 256d | 272d |
| Days inventory outstanding | 1044d | 797d | 606d | 691d | 1062d | 963d | 782d | 773d | 655d | 782d |
| Days payable outstanding | 207d | 209d | 134d | 152d | 162d | 222d | 179d | 151d | 126d | 145d |
| Cash conversion cycle | 1104d | 843d | 666d | 722d | 1208d | 933d | 765d | 787d | 785d | 909d |
| Valuation | ||||||||||
| P / E | - | - | 2.7x | 8.7x | 21.7x | 16.8x | 15.2x | 14.3x | 3.4x | - |
| P / B | 0.3x | 0.9x | 2.1x | 3.9x | 7.6x | 14.4x | 14.6x | 16.0x | 1.6x | - |
| P / S | 1.9x | 4.7x | 7.0x | 15.2x | 39.2x | 52.2x | 43.7x | 46.7x | 5.5x | - |
| EV / EBITDA | - | - | - | 60.1x | - | - | 112.2x | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -35.6% | 6.7% | 30.5% | -4.9% | -25.1% | 48.8% | 95.9% | 63.9% | 14.0% | -9.3% |
| Revenue CAGR (3y) | 6.3% | 9.4% | 30.3% | 19.1% | 8.2% | 14.7% | 21.1% | 19.1% | 1.9% | 0.4% |
| Revenue CAGR (5y) | 1.7% | 6.2% | 15.5% | 13.5% | 4.6% | 10.7% | 14.5% | 12.0% | 2.1% | -0.2% |
| Gross profit growth (YoY) | -35.9% | -1.0% | 18.5% | -20.1% | -33.6% | 67.7% | 124.3% | 97.6% | 17.4% | -13.1% |
| Operating income growth (YoY) | - | - | 5.7% | -41.5% | -54.8% | 190.1% | 542.6% | 436.3% | 19.9% | -48.9% |
| Net income growth (YoY) | - | - | 9.3% | -42.7% | -57.6% | 181.0% | 847.3% | 441.6% | 31.9% | -65.1% |
| EPS growth (YoY) | - | - | 8.3% | -42.6% | -59.4% | 172.7% | 771.4% | 5233.3% | 1194.1% | 268.4% |
| EPS CAGR (3y) | - | - | 236.9% | 164.1% | 153.3% | 268.4% | 243.9% | 761.8% | 115.4% | 67.1% |
| EPS CAGR (5y) | - | - | 96.8% | 87.8% | 65.4% | 95.5% | 96.2% | 96.2% | 55.8% | 29.8% |
| FCF growth (YoY) | - | - | - | 46.9% | - | - | 365.5% | - | - | 21.8% |
| FCF CAGR (5y) | - | - | - | 23.9% | - | - | 15.3% | - | - | -9.2% |
| Book value growth (YoY) | -1.4% | 12.1% | 21.1% | 23.8% | 32.6% | 51.3% | 41.3% | 29.7% | 12.6% | 10.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-09-30.
Business segments
$317.90M totalLife Science$190.14M · 59.8%
Diagnostics$127.76M · 40.2%
Product / service
$445.66M totalMolecular Reagents$130.54M · 29.3%
Non Molecular Assays$108.72M · 24.4%
Gastrointestinal Assays$68.89M · 15.5%
Immunological Reagents$59.60M · 13.4%
Other Diagnostics$25.86M · 5.8%
Molecular Assays$19.04M · 4.3%
Respiratory Illness Assays$17.61M · 4.0%
Blood Chemistry Assays$15.40M · 3.5%
Geographic
$337.58M totalAmericas$101.29M · 30.0%
US$99.64M · 29.5%
EMEA$24.48M · 7.3%
DE$18.46M · 5.5%
CN$13.56M · 4.0%
ES$12.59M · 3.7%
IT$12.24M · 3.6%
KR$9.24M · 2.7%
AU$9.12M · 2.7%
TR$7.28M · 2.2%
Other Countries$6.95M · 2.1%
IN$5.56M · 1.6%
ID$5.18M · 1.5%
FR$2.28M · 0.7%
GB$2.20M · 0.7%
Other Foreign$1.99M · 0.6%
BE$1.55M · 0.5%
NL$1.28M · 0.4%
CA$1.07M · 0.3%
FI$1.07M · 0.3%
JP$551.0K · 0.2%
Peer comparison
Same SIC group: In Vitro & In Vivo Diagnostic Substances
Comparing MERIDIAN BIOSCIENCE INC against the 5 most active filers in the same SIC group.