BIO // Bio-Rad Laboratories Inc.

DES <GO> NYSE CIK 0000012208 ↗

Health Care • Biotechnology: Laboratory Analytical Instruments

$384.40 ▼ -0.72 (-0.19%)

MKT CAP: $10.28B • VOL: 332.4K

52W L $237 52W H $396

ALTMAN Z

3.59 SAFE

PIOTROSKI

7 / 9

BIO // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 59/100 [C-] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C-

RQD CONFIDENCE

59 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Cautious Neutral

01 MASSIVE / SEC XBRL

Forensic Fundamentals

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

02 OPRA GEX + SEC 13F

Whale & Options Flow

10 / 20

NEUTRAL

NET GEX +0% • CALL SWEEP 52% • P/C 0.94

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

14 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON BIO)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 81/100 Z-SCORE: +2.25σ

BIO Accounting Gap: Net Income (+141.2%) Outpaced OCF (+16.9%) With +-7.2% Working-Capital Build

CASH CONVERSION GAP

+124.3% (NI vs OCF)

RECEIVABLES / WC BLOAT

-7.2% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on Bio-Rad Laboratories Inc. (BIO) exposes a +124.3% Cash Conversion Gap as YoY Net Income growth (+141.2%) diverged from Operating Cash Flow growth (+16.9%). Non-cash current assets and receivables expanded -7.2% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

BIO // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +32.86%▲ ASCENDING CHANNEL

2026-10-30O $381.1H $384.0L $368.5C $372.2VOL 183.1K

RES: $450.8SUP: $353.8SMA50: $374.8SMA200: $313.4

BIO // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

UNDERWEIGHT CONVICTION: 39/100

BEAR 0

100 BULL

Bio-Rad Laboratories Inc. (BIO) exhibits 51.9% gross margins and 0.5% return on invested capital within Health Care (Biotechnology: Laboratory Analytical Instruments), balanced against a 60.4x enterprise multiple and 7.0% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 51.9% gross profitability converts into 1.8% operating margin and 0.5% ROIC, outpacing sector cost of capital.

ROIC: 0.5% // GM: 51.9%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +0.7% paired with 3.64% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +0.7% // FCF YLD: 3.64%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 3.59 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.

ALTMAN Z: 3.59 // F-SCORE: 7/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 13.5x trailing P/E (12.6x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 13.5x // EV/EBITDA: 60.4x

02. Options Skew & Event Volatility Risk

Options market prices a ±7.0% implied move with a 0.94 put/call ratio around $377.00 max pain.

IMPL MOVE: ±7.0% // P/C: 0.94

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Biotechnology: Laboratory Analytical Instruments require continuous execution to defend 29.4% net margins.

NET MARGIN: 29.4% // D/E: 0.16x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 12.6x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.04).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 13.5x

FORWARD P/E 12.6x

EV / EBITDA 60.4x

FCF YIELD 3.64%

GROSS MARGIN 51.9%

OPERATING MARGIN 1.8%

NET MARGIN 29.4%

ROIC % 0.5%

REV GROWTH YOY +0.7%

DILUTED EPS TTM $28.42

DEBT / EQUITY 0.16x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 51.6

5Y EQUITY BETA 1.04

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // BIOPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $351.74

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for BIO & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

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MARGINS ROIC VALUATION

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MARGINS ROIC VALUATION