A Business at a Glance
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COMPANY OVERVIEW IDEXX was incorporated in Delaware in 1983. We develop, manufacture, and distribute products and provide services primarily for the companion animal veterinary; livestock, poultry and dairy; and water testing industries. We also manufacture and sell human medical point-of-care diagnostic products. Our primary products and services are: •Point-of-care veterinary diagnostic products, comprised of instruments, consumables, and rapid assay test kits; •Veterinary reference laboratory diagnostic and consulting services; •Practice management systems, software and diagnostic imaging systems and services used by veterinarians; •Health monitoring, biological materials testing, laboratory diagnostic instruments, and services used by the biomedical research community; •Diagnostic and health-monitoring products for livestock, poultry, and dairy; and •Products that test water for certain microbiological contaminants.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.3B | 4.3B | 3.9B | 3.7B | 3.4B | 3.2B |
| Net Income | 1.1B | 1.1B | 888M | 845M | 679M | 745M |
| EPS | $13.08 | $13.08 | $10.67 | $10.06 | $8.03 | $8.60 |
| Free Cash Flow | 1.1B | 1.1B | 808M | 773M | 394M | 636M |
| ROIC | 45.8% | 53.3% | 45.5% | 53.8% | 38.7% | 54.5% |
| Gross Margin | 61.8% | 61.8% | 61.0% | 59.8% | 59.5% | 58.8% |
| Debt/Equity | 0.59 | 0.59 | 0.61 | 0.71 | 2.38 | 1.47 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 1.4B | 1.4B | 1.1B | 1.1B | 899M | 932M |
| Operating Margin | 31.6% | 31.6% | 29.0% | 30.0% | 26.7% | 29.0% |
| ROE | 66.0% | 66.2% | 55.7% | 56.9% | 111.6% | 107.9% |
| Shares Outstanding | 81M | 81M | 83M | 84M | 85M | 87M |
IDEXX LABORATORIES INC /DE passes 8 of 9 quality checks, indicating strong fundamentals.
IDEXX LABORATORIES INC /DE trades at 43.9x trailing earnings, compared to its 15-year median P/E of 53.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 43.2x vs a median of 59.2x. The company's 5-year average ROIC is 49.2% with a gross margin of 60.2%. Total shareholder yield (buybacks) is 2.6%. At current prices, the estimated annualized return to fair value is +19.3%.
IDEXX LABORATORIES INC /DE (IDXX) has a current P/E ratio of 43.9, compared to its historical median P/E of 53.3. The stock is currently considered Fair based on its historical valuation range.
IDEXX LABORATORIES INC /DE (IDXX) has a 5-year average return on invested capital (ROIC) of 49.2%. This indicates strong capital allocation and a potential competitive advantage.
IDEXX LABORATORIES INC /DE (IDXX) has a market capitalization of $46.5B. It is classified as a large-cap stock.
IDEXX LABORATORIES INC /DE (IDXX) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.62%.
Based on historical P/E analysis, IDEXX LABORATORIES INC /DE (IDXX) appears fair. The current P/E of 43.9 is 18% below its historical median of 53.3. The estimated fair value CAGR (P/E method) is 16.7%.
IDEXX LABORATORIES INC /DE (IDXX) operates in the In Vitro & In Vivo Diagnostic Substances industry, within the Healthcare sector.
IDEXX LABORATORIES INC /DE (IDXX) reported annual revenue of $4.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
IDEXX LABORATORIES INC /DE (IDXX) has a net profit margin of 24.6%. This is a strong margin indicating high profitability.
IDEXX LABORATORIES INC /DE (IDXX) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
IDEXX LABORATORIES INC /DE (IDXX) has a debt-to-equity ratio of 0.59. This indicates moderate leverage.
IDEXX LABORATORIES INC /DE (IDXX) reported earnings per share (EPS) of $13.08 in its most recent fiscal year.
IDEXX LABORATORIES INC /DE (IDXX) has a return on equity (ROE) of 66.2%. This indicates the company generates strong returns for shareholders.
IDEXX LABORATORIES INC /DE (IDXX) has a 5-year average gross margin of 60.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for IDEXX LABORATORIES INC /DE (IDXX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
IDEXX LABORATORIES INC /DE (IDXX) has a book value per share of $19.82, based on its most recent annual SEC filing.
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