What is Biote Corp.'s return on invested capital?

Biote Corp. (BTMD) reported return on invested capital of 225.4% in Q3 2023.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Biote Corp. BTMD Return on invested capital

Return on invested capital at other companies

TargetTGT

11.9%-6.4pp

Walmart WMT

15.3%-1.2pp

Lifecore Biomedical, Inc.LFCR

-40.2%—

BioLife SolutionsBLFS

-4.9%-5.9pp

NAG

Niagen Bioscience, Inc. Common StockNAGE

114.6%-211pp

Lifevantage CorporationLFVN

20.4%-20.0pp

Other financials

Income statement

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Revenue$44.9M-8.3%

Gross profit$31.0M-14.9%

Operating income$3.2M-67.3%

Net income$2.3M-83.4%

EPS (diluted)$0.06-83.8%

Balance sheet

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Cash & equivalents$5.3M-87.2%

Total debt$103.4M-5.5%

Total equity-$56.1M+37.7%

Total assets$89.0M-27.8%

Cash flow

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Operating cash flow$3.9M-39.7%

CapEx$362.0K-77.8%

Free cash flow$3.5M-26.8%

Valuation

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Market cap$57.33M-51.2%

Enterprise value$155.43M-26.5%

P/E3.7×-0.1×

P/S0.3×-0.3×

Profitability

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Gross margin70.1%-1.2pp

Operating margin15.4%-0.1pp

Net margin8.3%-2.3pp

FCF margin15.3%-3.2pp

Returns & leverage

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Return on equity-21.4%—

Debt / equity9.1×—

Current ratio1.3×-0.1×

Where this comes from

Calculated from Biote Corp.’s reported figures.

nopat/invested capital=225.4%

Based on trailing twelve months.

The official record: Biote Corp.’s 10-Q, filed November 13, 2023, on SEC EDGAR. View the filing →

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Questions, answered.

What is Biote Corp.'s return on invested capital?: Biote Corp. (BTMD) reported return on invested capital of 225.4% in Q3 2023.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.