Azenta, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Azenta, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	434	527	632	334	389	514	555	551	573	594
Cost of revenue	362	425	385	200	216	270	300	312	319	324
Gross profit	157	199	246	135	172	244	256	239	255	270
Research and development	44.2	39.9	46.9	17.3	17.8	22.4	27.5	32.1	31.5	30.4
Selling, general and administrative	119	142	167	163	190	252	251	264	263	262
Operating expenses	174	185	215	182	209	275	280	300	306	297
Operating income	-17.1	14.3	31.4	-47.4	-36.6	-31.1	-24.7	-61.2	-51.3	-26.8
Interest expense	0.16	0.41	9.52	22.3	2.94	2.04	4.59
Interest income	0.45						15.7	43.7	33.2
Other non-operating income	-1.38	-1.7	-3.3	-1.39	-1.6	-16.5	-0.9	-2.3	-0.73	0.92
Pre-tax income	-18.1	14.5	20.5	-84	-40.3	-49	-9.94	-20	-19.1	-7.14
Income tax	66.3	3.38	-47.3	-22.8	-13.9	-20.1	1.35	-12	5.24	-31.6
Income from continuing operations	-85.5	10.7	67.7				-11.3	-8.04	-24.4	24.5
Net income to minority interests	0		0.11
Net income	-69.5	62.6	117	437	64.9	111	2,133	-14.6	-165	-55.8
EBITDA	11	42.5	68.8	7.02	28.9	34.2	29	24.3	39.5	34.4
EPS, basic	-1.01	0.90	1.65	6.08	0.88	1.49	28.48	-0.22	-3.10	-1.22
EPS, diluted	-1.01	0.89	1.64	6.04	0.88	1.49	28.48	-0.22	-3.10	-1.22
Shares, basic (weighted)	68.5	69.6	70.5	72	73.6	74.2	74.9	66.3	53.2	45.7
Shares, diluted (weighted)	68.5	70.5	70.9	72.4	73.9	74.5	74.9	66.3	53.2	45.9
Dividend per share	0.40	0.40	0.40	0.40	0.40	0.40	0.10

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	85.1	102	198	257	251	227	658	649	280	280
Short-term investments			46.3	34.1	0.05	0.08	912	339	151	61.1
Receivables	106	93.5	125	166	94.8	120	164	157	154	142
Inventory	92.6	73.4	97	99.4	37.1	60.4	85.5	128	71.3	75
Other current assets	15.3	22.6	31.7	46.3	44	51.1	133	98.8	51.4	64.7
Total current assets	299	352	564	647	649	777	2,459	1,419	833	708
Property, plant and equipment	54.9	57	60	101	88.7	131	154	206	156	154
Lease right-of-use assets					23.3	49.7	54.1	66.6	60.4	54
Goodwill	176	207	256	441	453	469	514	675	691	702
Intangible assets	81.8	83.5	100	251	212	187	178	294	125	102
Long-term investments			7.24	2.85	3.1	3.6	352	111	49.5	202
Other non-current assets	12.4	6.33	5.29	20.5	49.8	58.1	57.1	3.89	10.7	6.12
Total assets	686	767	1,095	1,516	1,559	1,820	3,716	2,885	2,100	2,060
Accounts payable	41.1	49.1	44.7	58.9	25.7	42.4	38.7	35.8	33.3	37.7
Accrued liabilities	21.3	23.9	29.3	31.4	28.7	33.2	41.9	33.9	29.2	35.8
Deferred revenue	15	22.6	25.9	29.4	25.8	25.7	39.7	34.6	30.5	31.6
Short-term debt			2	0.83	0.83
Total current liabilities	120	147	165	272	211	345	231	211	206	238
Long-term debt			194	50.3	49.6	49.7
Lease liabilities					18.9	45.1	49.2	60.4	56.7	51.2
Other non-current liabilities	4.27	4.34	5.55	10.2	1.3	6.17	6.72	12.2	9.27	11.1
Total liabilities	132	159	377	377	346	494	353	351	332	333
Total debt			196	51.1	50.4	49.7
Paid-in capital	1,856	1,875	1,898	1,922	1,943	1,976	1,992	1,156	506	530
Retained earnings	-1,117	-1,082	-994	-586	-551	-470	1,655	1,641	1,476	1,420
Treasury stock	-201	-201	-201	-201	-201	-201	-201	-201	-201	-201
Other comprehensive income	15.2	15.2	13.6	3.51	21.9	19.4	-83.9	-62.4	-13.5	-22.2
Shareholders' equity	554	608	718	1,139	1,214	1,325	3,363	2,534	1,768	1,727
Total equity	554	608	718	1,139	1,214	1,325	3,363	2,535	1,768	1,727
Total liabilities and equity	686	767	1,095	1,516	1,559	1,820	3,716	2,886	2,100	2,060
Shares outstanding	68.8	69.8	70.7	72.3	73.8	74.3	75	57.8	45.6	45.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-69.5	62.6	116	437	64.9	111	2,133	-14.3	-165	-55.8
Depreciation and amortization	28	28.1	37.4	54.5	65.5	65.3	53.7	85.6	90.7	61.2
Stock-based compensation	11.7	17.3	19.8	20.1	16.3	27.5	10.7	9.38	14.5	20.9
Deferred income tax	70.3	0.52	-45.2	-15.2	-5.41	-17.3	24.5	-28.7	-15.9	-27
Change in receivables	-1.8	-11.2	-28.5	-11.4	-18.8	-69.6	-31.4	34.5	-12.1	21
Change in inventory	8.57	-12.8	-24.4	-2.93	-13.1	-50.4	-66.6	8.25	15.9	-2.67
Change in payables	-5.14	7.85	5.46	4.7	0.79	31	-3.93	-14.7	9.2	1.04
Cash from operations	39.5	96.2	74	90.9	37.9	150	-466	5.83	49.7	72.2
Capital expenditures	-12.8	-12.7	-12.8	-23.9	-39.9	-52.8	-73.4	-39.4	-37.4	-33.9
Acquisitions	-125	-44.8	-85.8	-443	-15.7	-93.7	-126	-387	0	0
Purchases of investments	-12.9		-69.7	-35.2	-10.9	-0.15	-1,976	-236	-406	-451
Sales and maturities of investments	139	3.59	17.5	2.56	42.3	0.1
Cash from investing	-10.9	-54.2	-148	211	-22.7	-146	1,466	431	225	-90.5
Debt repaid			-1.5				-49.7	0	0
Stock issued	1.89	2.04	2.83	3.42	4.6	5.81	5.25	3.62	3.28	2.77
Share buybacks							0	-839	-662	0
Dividends paid	-27.5	-27.9	-28.3	-28.9	-29.5	-29.7	-7.49	0	0
Cash from financing	-26	-25.9	170	-191	-27	-25.9	-62.8	-840	-659	-9.59
Exchange rate effect	1.65	0.42	0.31
Net change in cash	4.36	16.5	96.1	107	-2.65	-17.2	756	-357	-363	-24.3
Free cash flow	26.7	83.5	61.2	67	-2.06	97.1	-539	-33.6	12.4	38.3
Interest paid	0.11	0.2	6.54	20.8	2.16	1.44	0.47	0	0
Income taxes paid	4.93	8.14	21.1	17	102	38	452	43.1	2.7	6.57

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $34.02 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.0%	Gross profit / revenue.
Operating margin	-28.6%	Operating income / revenue.
EBITDA margin	-19.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-24.8%	Pre-tax income / revenue.
Net margin	-20.0%	Net income / revenue.
FCF margin	1.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.2%	Cash from operations / revenue.
Return on equity (ROE)	-8.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-6.6%	Net income / average total assets.
Return on invested capital (ROIC)	-10.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	5.8%	Research and development expense / revenue.
SG&A / revenue	41.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	3.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.6%	Capital expenditures / revenue.
D&A / revenue	9.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-12.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	5.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	3.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	45.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	13.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	210.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-2.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-19.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-17.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-13.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-15.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-9.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.50x	Current assets / current liabilities.
Quick ratio	1.72x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.20x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	19.5%	Total liabilities / total assets.
Working capital	$408.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	33.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$877.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.33x	Revenue / average total assets.
Fixed asset turnover	3.56x	Revenue / average property, plant and equipment.
Inventory turnover	4.34x	Cost of revenue / average inventory.
Days inventory	84 days	365 x average inventory / cost of revenue.
Receivables turnover	4.27x	Revenue / average receivables.
Days sales outstanding	85 days	365 x average receivables / revenue.
Days payables	42 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	128 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	74.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.67	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$13.55	Revenue / diluted weighted shares.
FCF per share	$0.22	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.84	Cash from operations / diluted weighted shares.
Book value per share	$34.51	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$20.04	Tangible book value / shares outstanding.
Cash per share	$7.44	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.49B	Share price x shares outstanding.
Enterprise value	$1.16B	Market cap + total debt - cash - short-term investments.
P/S	2.43x	Market cap / revenue.
P/B	0.99x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.70x	Market cap / tangible book value, when positive.
P/FCF	151x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	39.2x	Market cap / cash from operations, when positive.
EV/Sales	1.90x	Enterprise value / revenue.
EV/FCF	118x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.7%	Free cash flow / market cap.
Earnings yield	-8.2%	Net income / market cap (the inverse of P/E).

What was Azenta, Inc.'s revenue in fiscal 2025?

Azenta, Inc. reported revenue of $593.8M for fiscal 2025, 3.6% higher than the year before.

Was Azenta, Inc. profitable in fiscal 2025?

No. It reported a net loss of $55.8M.

How much free cash flow did Azenta, Inc. generate in fiscal 2025?

Cash from operations of $72.2M minus capital expenditures of $33.9M left free cash flow of $38.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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