There's a line from the late Charlie Munger I never forget: "The big money is not in the buying or the selling, but in the waiting."
And anyone who's been sitting on bioMérieux (BMXXY) for the past few years is watching patience pay off in an almost obscene way.
The Raw, Uncut Facts
bioMérieux dropped its 2025 results this Thursday, and the numbers are the kind that make analysts choke on their coffee: EUR 4 billion in revenue, with organic growth of 6.2%.
Six point two percent.
Sound small? Only if you don't know that the diagnostics market as a whole is growing a pathetic 1%. bioMérieux is growing six times faster than the average competitor. This isn't performance. This is dominance.
CEO Pierre Boulud, with that understated French demeanor hiding a bazooka backstage, practically spelled it out on the call: "significantly outpacing a market that we're seeing way around 1%."
Let me translate that from corporate-speak into plain English: while the competition is on life support, they're popping champagne.
Why This Matters (And Why Nobody Cares)
Here's the paradox that pisses me off.
bioMérieux is one of the most rock-solid companies in global healthcare. The leader in in vitro diagnostics, clinical microbiology, industrial testing. The kind of business that runs in rain, shine, and recession — because hospitals don't stop running blood cultures when GDP drops, dammit.
But try finding anyone talking about this company. Try. You'll find zero finance influencers making Reels about BMXXY. Know why? Because it doesn't get likes. It's not Nvidia. It's not Bitcoin. It's not the hot stock of the moment.
And that's exactly why anyone who actually understands investing should be paying attention.
Remember what Ben Graham said? The market in the short run is a voting machine. In the long run, it's a weighing machine. And bioMérieux is getting heavier by the quarter — built on real fundamentals, not PowerPoint narratives.
What the Call Didn't Tell Us (Because the Paywall Cut It Off)
I'll be straight with you: the call transcript on Seeking Alpha came chopped up. Paywall, ad-blocker, the usual suspects. So what we know for certain is the headline — EUR 4 billion, 6.2% organic — and Boulud's triumphant tone.
What we don't know in detail yet is: how did margins hold up? Did CFO Guillaume Bouhours give guidance for 2026? How's FILMARRAY performing and what about the industrial microbiology division?
These are the details that separate "interesting company" from "concrete investment opportunity." And whoever digs in will have an edge, because — like I said — almost nobody in the retail investing crowd is looking at this.
The Context the Gurus Ignore
The diagnostics sector is in a schizophrenic moment. Post-COVID, everyone assumed testing companies would crater. And sure enough, many did. Quidel, Hologic — several watched revenue evaporate when COVID testing dried up.
But bioMérieux never relied on COVID to grow. Their core business is routine diagnostics — infections, sepsis, industrial quality control, food safety. It's the kind of demand that doesn't vanish when a pandemic ends. It's antifragile, to use Taleb's term.
And when an antifragile company grows at 6x the sector average, what you've got is a silent compounder — the kind of stock that never shows up on "top picks" lists but that, 10 years from now, has left everyone eating dust.
The Question That Lingers
Would you rather keep chasing the stock of the moment — the one everyone on Twitter already "knows" is going to moon — or do you have the discipline to look at a company that grows consistently, in an essential sector, with real competitive advantages, that practically no one in your feed is even mentioning?
Because history shows the big money is where the crowd is not looking.
And right now, bioMérieux is screaming, and the room is empty.
