Azenta, Inc. (AZTA) Stock

Azenta, Inc. (AZTA) is a Industrials stock trading at $31.73 (as of 2026-09-02), with a market capitalization of $1.39B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Azenta, Inc. offers life science sample exploration and management solutions, including automated cold sample storage systems and related sample preparation tools and consumables, as well as services such as sample management programs, integrated cold chain support, informatics, and sample-based laboratory work. Its products and services serve life science organizations including pharmaceutical and biotechnology companies, biorepositories, and research institutes across multiple regions.

Understand Azenta, Inc.: how it makes money

Azenta sells automated sample storage systems, lab instruments, and consumables to pharma and biotech research labs, earning from both one-time equipment and recurring service and consumable contracts. The installed base of cold-managed systems drives recurring pull-through, but the cost structure has not yet reached the scale needed for operating profitability.

The profit model depends on installing automated cold-chain systems in customer labs, then earning recurring consumable and service revenue from each installed unit. The moat is the switching cost of migrating an entire sample collection to a rival platform.

Revenue by segment (latest quarter)
Life Sciences Services	$0.1B
Life Sciences Products	$0.1B

Business quality (Weak): Weak: a 45% gross margin is fully consumed by the operating expense base, leaving a negative operating margin. Growth is genuine but the company has not yet crossed the revenue threshold where scale covers fixed costs.

Bull case

Twelve Percent Top-Line Growth: Quarterly revenue reached $200M, up 12% year over year, indicating the life sciences lab-equipment market is recovering and Azenta is capturing demand in both instruments and consumables.
Forty-Five Percent Gross Margin: A 45% gross margin is strong for the industrial machinery space and reflects the mix of recurring consumables pull-through from the installed base of automated sample management systems.

Bear case

Operating Loss at Scale: Operating margin is negative 3%, which means the full 45% gross margin is swallowed by R&D, SG&A, and other operating costs before a single dollar reaches net income. At $200M quarterly revenue the cost base simply has not been outrun.
70 Percent in Two Lines: Sample Management Solutions ($80M, 40% of revenue) and Multiomics ($60M, 30% of revenue) together account for 70% of sales. A competitive or technological shift in either product line would expose the majority of the revenue base with limited diversification cushion.

Valuation — source: SEC EDGAR (first-party)
Price	$31.73
Market Cap	$1.39B
Price / Book	0.92
Price / Sales	2.27
FCF Yield	2.8%
DCF Value (model)	$3.92
DCF Upside vs Price	-87.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$593.82M
Net Margin	-9.4%
Revenue Growth (YoY)	12.0%
EPS Growth (YoY)	-104.3%
FCF Growth (YoY)	-134.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.10 (safe)

Valuation vs Sector & Industry
Sector P/E (Industrials)	25.7
Industry P/E (Machinery)	31.6

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($150.97M)
Institutional Holders Tracked	10
Congressional Trades (recent)	9

Company
Sector	Industrials
Industry	Machinery
CEO	John Marotta
Employees	3,000
Country	US
IPO Date	1995-02-02

Related Companies (Machinery; 8 comparable machinery makers)

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.