業種
Life Science Tools
Life Science Tools のすべてのレポート — 全 14 件。
48/100
Danaher: Orders and Peers Make the Bioprocessing Recovery Underwritable, but 3-4% Core Growth at 23 Times Earnings Leaves No Margin of Safety
Danaher sells recurring bioprocessing, laboratory and diagnostic workflows through specialised operating companies run on the Danaher Business System, with Cytiva consumables, Cepheid cartridges and Beckman reagents supplying most of the profit pool. Second-quarter core growth was 3.0% while more than 100 million USD of chromatography-resin shipments moved into 2027, and goodwill and intangibles reached 74.5% of assets after the 9.8 billion USD Masimo purchase, against acquisition-inclusive ROIC near 6 to 7%. Rating Hold: peer consumables data make the bioprocessing recovery underwritable, but at 23.4 times guided adjusted EPS the price already pays for a conversion Danaher cannot schedule.
42/100
49Buffett
QIAGEN: Sticky Workflow Economics With Takeover Optionality Already in the Price
QIAGEN is a molecular diagnostics and life-science tools company that monetizes an entire lab workflow, from sample prep to assays, automation and bioinformatics, selling to more than 500,000 customers across five growth pillars that target about $1.61 billion of 2026 sales. The recurring consumables model is genuinely sticky, but core organic growth still needs repair while the stock carries takeover optionality after Reuters reported KKR and strategic interest. Rating Hold: at $41.51 the shares sit inside the acceptable-hold band of $39-53, above the ideal buy zone of $30-32, so buyers are paying for both a standalone repair and a deal premium that may not arrive.
45/100
Bio-Rad Laboratories: A Company in Transition, Priced Without a Margin of Safety
Bio-Rad is a diversified life-science tools and clinical-diagnostics supplier whose core operations generated 2.58 billion USD of 2025 sales, complicated by an unusually large Sartorius AG stake that dominates its GAAP earnings. Q1 2026 brought a 527.1 million USD net loss driven by a 727.7 million USD fair-value drop on the Sartorius stake, even as the operating business still produced 108.1 million USD of operating cash flow, and management cut full-year currency-neutral revenue guidance to a range of -3.0% to +0.5%. Rating Hold: durable niche assets and real asset backing, but at 297.09 USD the price already assumes the 2026 slowdown is manageable and leaves no margin of safety.
49/100
Merck KGaA: 転換期にある多角的サイエンス・プラットフォーム
ドイツ・ダルムシュタットのMerck KGaAは、2025年売上211億ユーロを、特許リスクを抱えるHealthcare、高品質なLife Scienceツール、半導体材料中心のElectronicsという性格の異なる3つのエンジンから生み出す、ファミリー支配のドイツ科学技術グループである。2026年の株価は綱引きの局面にあり、既知のMavenclad米国特許切れがHealthcareを押し下げる一方、Process Solutionsは有機ベースで約10%成長し、Electronicsは先端ノードAI需要に乗っており、5月の反発後の株価133.05ユーロでは2025年EPS preの約15.9倍、フリーキャッシュフロー利回り3.5%にある。投資判断はホールド: Life Scienceと半導体材料の本当に強いエンジンは、信頼を損ねたHealthcareを相殺しているが、恒久的なKGaAガバナンス・ディスカウントと妥当水準にとどまるバリュエーションが上値を限定している。
51/100
Sartorius AG：質の高いバイオプロセス回復はすでに株価に織り込み済み
Sartorius AGは、過半出資するバイオプロセス事業会社Sartorius Stedim Biotechが企業価値の大半を占めるドイツのライフサイエンス・ツール企業であり、流動性のある上場銘柄は無議決権優先株SRT3である。パンデミック期の急拡大と在庫調整の反動を経て、2025年売上高は7.6%増の約35.4億EUR、基礎的EBITDAマージンは29.7%へ回復し、レバレッジも3.96xから3.55xへ低下したが、約37.4億EURの純有利子負債と直近EBITDA約18xのなお高い評価倍率は余裕を小さくしている。格付けはホールド：事業の質も回復も本物だが、市場はすでに正常化を見込んでおり、現在の217.10EURは本レポートの理想的な買いゾーンを上回っている。
42/100
10x Genomics 詳細調査レポート
10x Genomicsは、設置済み機器が高粗利消耗品の反復購入を生むシングルセルおよび空間オミクスのプラットフォーム企業であり、消耗品は長期にわたり売上高の約84%から86%を占めてきた。Chromiumの成長が鈍化するなか、次の成長の受け渡しは2026年4月に投入されたAteraにかかっているが、同社はなお赤字で、売上高の約40%から50%を学術・政府資金に依存している。調査レーティングはホールド: 現在株価USD 28.84では、株式は約5.1xの予想EV/Salesで取引されており、妥当な水準だが安全余裕はない。
41/100
Bruker Zen Horizon Research: A Hidden Champion in Scientific Instruments, but Organic Growth Is Receding and Valuation Has Priced In the Recovery
Bruker is a hidden global champion in high-end scientific analytical instruments, with a near-oligopoly position in NMR. Organic growth has turned negative for consecutive periods, reported growth is being held up by acquisitions and FX, GAAP earnings have swung to a loss, and the profit recovery depends heavily on cost execution after a roughly 70% one-month surge left the current price of $59.97 above the average sell-side target by 16% and forward PE at about 27-28x near the top of peers. Research rating Watch: a high-quality moat business that needs either a confirmed organic inflection or a pullback toward roughly $48 to restore margin of safety.
27/100
Bio-Techne Corporation: A Deep Value Investing Study
A high-quality life-science tools company trading at a rich price. At $51.68 the stock carries a trailing P/E of roughly 74.9x while three-year revenue has compounded at only 3.3%, so the margin of safety is thin. Rating Watch: ideal entry sits at $28-35, with the roughly $1 billion Wilson Wolf follow-on acquisition as the key risk to monitor.
43/100
Revvity In-Depth Value Investment Research
Revvity is a life sciences and diagnostics tools company with understandable businesses and acceptable cash generation. The core thesis is that its recurring revenue mix and focused portfolio are attractive, but its moat and capital returns are not strong enough to offset low-single-digit GAAP ROIC, $6.6 billion of goodwill, and a share price already near the low end of the optimistic case. Research rating Watch: a quality business with insufficient margin of safety at the current price, with a fair buy range of $50 to $65.
45/100
90Buffett
Mettler-Toledo International Inc.: A Value Investing Deep Dive
A global leader in precision instruments and services with excellent quality, but at roughly $1,161 the stock trades at about 27x P/E and about 28x conservative owner earnings, already close to the optimistic scenario, so the rating is Watch; the ideal buy range is $800-950; the main risks are competition in China and emerging markets, tariff erosion of gross margin, and buybacks at high valuations.
46/100
Long-Term Research on Waters' Laboratory Analytics and Diagnostic Tools
Waters sells liquid chromatography, mass spectrometry, thermal analysis, software, consumables, and services, and after acquiring BD Biosciences it has become a life-sciences and diagnostics platform. At $342, the stock is already close to the optimistic valuation band, while the ideal buy range is $200-240. Rating Watch: a high-quality business, but current pricing leaves too little margin of safety before integration and cash-flow proof improve.
48/100
Danaher Research from a Long-Term Owner's Perspective
Danaher is a platform spanning bioprocessing, life sciences, and diagnostics, with 2025 revenue of $24.668 billion, free cash flow of roughly $5.29 billion, and recurring revenue at 82%. At the current share price of $172, the stock trades at about 23x FCF, which places it in a fair-value band without enough margin of safety. Rating Watch: a durable compounder worth studying and holding, but better approached after a wider discount emerges.
47/100
69Buffett
Thermo Fisher: A Long-Term Owner's Perspective
Thermo Fisher Scientific is a full-stack scientific infrastructure platform spanning instruments, consumables, services, CRO, and CDMO capabilities. At $448, with a static P/E of 24.6x and $65.2 billion of goodwill and acquisition-related intangibles, long-term returns depend heavily on acquisition quality and execution. Rating Watch: a high-quality business, but the current price does not offer a clearly sufficient margin of safety.
44/100
83Buffett
Agilent Technologies: A Study from a Long-Term Business Owner's Perspective
A high-quality laboratory tools and services company whose CrossLab services/consumables franchise is highly sticky, with solid cash flow and low debt. At the current $113.78, mid-single-digit growth is already fully priced in and the margin of safety is insufficient; rating Watch, with an ideal buy zone of $70-85.