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Side-by-side financial comparison of Freshpet, Inc. (FRPT) and Bio-Techne (TECH). Click either name above to swap in a different company.
Bio-Techne is the larger business by last-quarter revenue ($311.4M vs $297.6M, roughly 1.0× Freshpet, Inc.). Bio-Techne runs the higher net margin — 16.4% vs 16.3%, a 0.1% gap on every dollar of revenue. On growth, Freshpet, Inc. posted the faster year-over-year revenue change (13.1% vs -1.5%). Over the past eight quarters, Freshpet, Inc.'s revenue compounded faster (12.5% CAGR vs 1.3%).
Freshpet, Inc. is an American pet food company. Its cat food and dog food products are marketed as fresh and need to be kept refrigerated. It is listed on the Nasdaq exchange with the ticker symbol FRPT.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
FRPT vs TECH — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $297.6M | $311.4M |
| Net Profit | $48.5M | $51.0M |
| Gross Margin | 40.5% | 66.9% |
| Operating Margin | — | 24.2% |
| Net Margin | 16.3% | 16.4% |
| Revenue YoY | 13.1% | -1.5% |
| Net Profit YoY | 482.0% | 126.0% |
| EPS (diluted) | — | $0.32 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $297.6M | $311.4M | ||
| Q4 25 | $285.2M | $295.9M | ||
| Q3 25 | $288.8M | — | ||
| Q2 25 | $264.7M | $317.0M | ||
| Q1 25 | $263.2M | $316.2M | ||
| Q4 24 | $262.7M | $297.0M | ||
| Q3 24 | $253.4M | $289.5M | ||
| Q2 24 | $235.3M | $306.1M |
| Q1 26 | $48.5M | $51.0M | ||
| Q4 25 | $33.8M | $38.0M | ||
| Q3 25 | $101.7M | — | ||
| Q2 25 | $16.4M | $-17.7M | ||
| Q1 25 | $-12.7M | $22.6M | ||
| Q4 24 | $18.1M | $34.9M | ||
| Q3 24 | $11.9M | $33.6M | ||
| Q2 24 | $-1.7M | $40.6M |
| Q1 26 | 40.5% | 66.9% | ||
| Q4 25 | 43.3% | 64.6% | ||
| Q3 25 | 39.5% | — | ||
| Q2 25 | 40.9% | 62.7% | ||
| Q1 25 | 39.4% | 67.9% | ||
| Q4 24 | 42.5% | 65.3% | ||
| Q3 24 | 40.4% | 63.2% | ||
| Q2 24 | 39.9% | 66.4% |
| Q1 26 | — | 24.2% | ||
| Q4 25 | 15.6% | 18.4% | ||
| Q3 25 | 8.6% | — | ||
| Q2 25 | 6.7% | -7.5% | ||
| Q1 25 | -4.4% | 12.2% | ||
| Q4 24 | 7.4% | 16.0% | ||
| Q3 24 | 4.7% | 13.8% | ||
| Q2 24 | -0.7% | 15.0% |
| Q1 26 | 16.3% | 16.4% | ||
| Q4 25 | 11.9% | 12.8% | ||
| Q3 25 | 35.2% | — | ||
| Q2 25 | 6.2% | -5.6% | ||
| Q1 25 | -4.8% | 7.1% | ||
| Q4 24 | 6.9% | 11.7% | ||
| Q3 24 | 4.7% | 11.6% | ||
| Q2 24 | -0.7% | 13.3% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.71 | $0.24 | ||
| Q3 25 | $1.86 | — | ||
| Q2 25 | $0.33 | $-0.11 | ||
| Q1 25 | $-0.26 | $0.14 | ||
| Q4 24 | $0.35 | $0.22 | ||
| Q3 24 | $0.24 | $0.21 | ||
| Q2 24 | $-0.03 | $0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $381.4M | $209.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $2.1B |
| Total Assets | $1.8B | $2.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $381.4M | $209.8M | ||
| Q4 25 | $278.0M | $172.9M | ||
| Q3 25 | $274.6M | — | ||
| Q2 25 | $243.7M | $162.2M | ||
| Q1 25 | $243.7M | $140.7M | ||
| Q4 24 | $268.6M | $177.5M | ||
| Q3 24 | $274.6M | $187.5M | ||
| Q2 24 | $251.7M | $152.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $260.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $346.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | — | $300.0M | ||
| Q3 24 | — | $300.0M | ||
| Q2 24 | — | $319.0M |
| Q1 26 | $1.3B | $2.1B | ||
| Q4 25 | $1.2B | $2.0B | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $1.0B | $2.0B | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $1.0B | $2.1B | ||
| Q2 24 | $995.8M | $2.1B |
| Q1 26 | $1.8B | $2.6B | ||
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.6B | $2.6B | ||
| Q1 25 | $1.6B | $2.6B | ||
| Q4 24 | $1.6B | $2.7B | ||
| Q3 24 | $1.5B | $2.7B | ||
| Q2 24 | $1.5B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | — |
| Free Cash FlowOCF − Capex | $12.7M | — |
| FCF MarginFCF / Revenue | 4.3% | — |
| Capex IntensityCapex / Revenue | 9.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $46.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $55.1M | — | ||
| Q3 25 | $66.8M | — | ||
| Q2 25 | $33.9M | $98.2M | ||
| Q1 25 | $4.8M | $41.1M | ||
| Q4 24 | $50.4M | $84.3M | ||
| Q3 24 | $56.1M | $63.9M | ||
| Q2 24 | $42.4M | $75.5M |
| Q1 26 | $12.7M | — | ||
| Q4 25 | $2.1M | — | ||
| Q3 25 | $31.6M | — | ||
| Q2 25 | $445.0K | $93.3M | ||
| Q1 25 | $-21.7M | $31.0M | ||
| Q4 24 | $-7.9M | $77.5M | ||
| Q3 24 | $22.1M | $54.7M | ||
| Q2 24 | $-5.9M | $57.5M |
| Q1 26 | 4.3% | — | ||
| Q4 25 | 0.7% | — | ||
| Q3 25 | 10.9% | — | ||
| Q2 25 | 0.2% | 29.4% | ||
| Q1 25 | -8.2% | 9.8% | ||
| Q4 24 | -3.0% | 26.1% | ||
| Q3 24 | 8.7% | 18.9% | ||
| Q2 24 | -2.5% | 18.8% |
| Q1 26 | 9.3% | — | ||
| Q4 25 | 18.6% | — | ||
| Q3 25 | 12.2% | — | ||
| Q2 25 | 12.6% | 1.5% | ||
| Q1 25 | 10.1% | 3.2% | ||
| Q4 24 | 22.2% | 2.3% | ||
| Q3 24 | 13.4% | 3.2% | ||
| Q2 24 | 20.5% | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | 2.78× | 2.42× | ||
| Q3 24 | 4.72× | 1.90× | ||
| Q2 24 | — | 1.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRPT
Segment breakdown not available.
TECH
| Protein Sciences segment revenue | $226.2M | 73% |
| Diagnostics and Spatial Biology segment revenue | $85.6M | 27% |
| Other revenue (1) | $5.4M | 2% |
