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 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $333.02M | $317.90M | $253.67M | $201.01M | $196.08M | $200.77M |
| Cost of Revenue | $144.66M | $116.75M | $97.42M | $82.69M | $68.87M | - |
| Gross Profit | $188.36M | $201.15M | $156.25M | $118.33M | $130.46M | $124.83M |
| R&D | $24.34M | $23.91M | $23.73M | $17.95M | $16.87M | $15.68M |
| SG&A | $57.15M | $49.54M | $44.34M | $33.00M | $34.49M | $32.28M |
| Total Operating Expenses | $133.97M | $108.11M | $94.92M | $85.63M | $98.88M | $87.45M |
| D&A | $16.51M | $15.29M | $13.57M | $9.96M | $8.69M | $9.09M |
| Operating Income | $54.39M | $93.03M | $61.32M | $32.70M | $31.58M | $37.38M |
| Interest Expense | $1.19M | $1.88M | $2.63M | $1.95M | $1.52M | $1.64M |
| Income Tax | $11.86M | $19.04M | $13.11M | $7.17M | $6.53M | $14.87M |
| Net Income | $42.46M | $71.41M | $46.19M | $24.38M | $23.85M | $21.56M |
| EPS - Basic | $9.70 | $16.50 | $10.80 | $5.70 | $5.60 | $5.10 |
| EPS - Diluted | $9.60 | $16.20 | $10.70 | $5.70 | $5.60 | $5.10 |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $81.45M | $49.77M | $53.51M | $62.40M | $59.76M | $57.07M |
| Accounts Receivable | $47.23M | $53.57M | $38.51M | $35.61M | $32.34M | $29.11M |
| Inventory | $67.81M | $76.84M | $61.26M | $39.62M | $41.99M | $41.49M |
| Accounts Payable | $17.76M | $11.70M | $11.97M | $7.24M | $6.26M | $7.72M |
| Current Assets | $210.60M | $192.81M | $162.19M | $144.76M | $139.05M | $133.88M |
| Total Assets | $463.10M | $449.72M | $405.26M | $325.48M | $251.38M | $249.78M |
| Current Liabilities | $57.95M | $47.16M | $52.52M | $20.91M | $24.17M | $22.89M |
| Long-term Debt | $25.00M | $60.00M | $68.82M | $75.82M | $44.93M | $50.15M |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $368.06M | $328.30M | $247.63M | $190.97M | $175.42M | $169.59M |
| Retained Earnings | $223.16M | $180.70M | $109.29M | $63.11M | $49.60M | $46.92M |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $82.36M | $66.86M | $47.98M | $35.83M | $37.22M | $41.35M |
| Investing Cash Flow | ($11.12M) | ($40.40M) | ($54.60M) | ($48.45M) | ($66.69M) | ($4.47M) |
| Financing Cash Flow | ($34.30M) | ($31.07M) | ($3.56M) | $15.26M | $27.20M | ($27.71M) |
| CapEx | $8.62M | $18.31M | $3.30M | $3.80M | $4.20M | $4.47M |
| Free Cash Flow | $73.75M | $48.55M | $44.68M | $32.03M | $33.02M | $36.89M |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 56.6% | 63.3% | 61.6% | 58.9% | 66.5% | 62.2% |
| Operating margin | 16.3% | 29.3% | 24.2% | 16.3% | 16.1% | 18.6% |
| EBITDA margin | 21.3% | 34.1% | 29.5% | 21.2% | 20.5% | 23.1% |
| Net margin | 12.7% | 22.5% | 18.2% | 12.1% | 12.2% | 10.7% |
| Free cash flow margin | 22.1% | 15.3% | 17.6% | 15.9% | 16.8% | 18.4% |
| FCF / Net income | 1.74 | 0.68 | 0.97 | 1.31 | 1.38 | 1.71 |
| R&D / Revenue | 7.3% | 7.5% | 9.4% | 8.9% | 8.6% | 7.8% |
| SG&A / Revenue | 17.2% | 15.6% | 17.5% | 16.4% | 17.6% | 16.1% |
| Effective tax rate | 21.8% | 21.1% | 22.1% | 22.7% | 21.5% | 40.8% |
| Return on assets | 9.2% | 15.9% | 11.4% | 7.5% | 9.5% | 8.6% |
| Return on equity | 11.5% | 21.8% | 18.7% | 12.8% | 13.6% | 12.7% |
| Return on invested capital | 10.8% | 18.9% | 15.1% | 9.5% | 11.3% | 10.1% |
| Liquidity | ||||||
| Current ratio | 3.63 | 4.09 | 3.09 | 6.92 | 5.75 | 5.85 |
| Quick ratio | 2.46 | 2.46 | 1.92 | 5.03 | 4.02 | 4.04 |
| Cash ratio | 1.41 | 1.06 | 1.02 | 2.98 | 2.47 | 2.49 |
| Leverage | ||||||
| Debt / Equity | 0.07 | 0.18 | 0.28 | 0.40 | 0.26 | 0.30 |
| Debt / Assets | 0.05 | 0.13 | 0.17 | 0.23 | 0.18 | 0.20 |
| Debt / EBITDA | 0.35 | 0.55 | 0.92 | 1.78 | 1.12 | 1.08 |
| Interest coverage | 45.7x | 49.5x | 23.3x | 16.8x | 20.8x | 22.8x |
| Equity multiplier | 1.26 | 1.37 | 1.64 | 1.70 | 1.43 | 1.47 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.72 | 0.71 | 0.63 | 0.62 | 0.78 | 0.80 |
| Inventory turnover | 2.13 | 1.52 | 1.59 | 2.09 | 1.64 | - |
| Days sales outstanding | 52d | 62d | 55d | 65d | 60d | 53d |
| Days inventory outstanding | 171d | 240d | 230d | 175d | 223d | - |
| Days payable outstanding | 45d | 37d | 45d | 32d | 33d | - |
| Cash conversion cycle | 178d | 265d | 240d | 208d | 250d | - |
| Valuation | ||||||
| P / E | 0.7x | 3.5x | 8.6x | - | - | - |
| P / B | 0.9x | 7.6x | 16.0x | - | - | - |
| P / S | 1.0x | 7.8x | 15.6x | - | - | - |
| EV / EBITDA | 3.7x | 23.1x | 53.0x | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 4.8% | 25.3% | 26.2% | 2.5% | -2.3% | 2.4% |
| Revenue CAGR (3y) | 18.3% | 17.5% | 8.1% | 0.8% | 0.2% | 2.1% |
| Revenue CAGR (5y) | 10.7% | 10.1% | 5.4% | 1.3% | 0.8% | 3.0% |
| Gross profit growth (YoY) | -6.4% | 28.7% | 32.0% | -9.3% | 4.5% | -2.3% |
| Operating income growth (YoY) | -41.5% | 51.7% | 87.5% | 3.5% | -15.5% | -27.2% |
| Net income growth (YoY) | -40.5% | 54.6% | 89.4% | 2.2% | 10.6% | -33.1% |
| EPS growth (YoY) | -40.7% | 51.4% | 87.7% | 1.8% | 9.8% | 571.1% |
| EPS CAGR (3y) | 19.0% | 42.5% | 28.0% | 95.7% | 87.5% | 83.2% |
| EPS CAGR (5y) | 13.5% | 84.4% | 66.0% | 47.0% | 43.8% | 44.8% |
| FCF growth (YoY) | 51.9% | 8.7% | 39.5% | -3.0% | -10.5% | 11.0% |
| FCF CAGR (5y) | 14.9% | 7.9% | 3.2% | -2.9% | -4.3% | -1.1% |
| Book value growth (YoY) | 12.1% | 32.6% | 29.7% | 8.9% | 3.4% | 1.9% |
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%
Stability scores
Piotroski F-score
FY 2022 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
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.