Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock.
It is a $40.8B healthcare company. Revenue grew 12.8% over the last year, it keeps 25¢ of every dollar of sales as profit, and its net debt equals ~0.2 years of free cash flow. It trades at 35.8× earnings — near the lowest of its own history.
- Website
- idexx.com
- Location
- Westbrook, ME
- Employees
- 11 000
- Sector
- Healthcare
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability, health, quality and moat.
Valuation54
- P/E vs own history1th pct · 25/25
- FCF yield3.1% · 12/25
- P/S9.0x · 12/25
- EV/EBITDA25.8x · 5/25
Growth56
- Revenue CAGR7.6% · 12/25
- Net income CAGR9.2% · 12/25
- EPS CAGR ~5Y14.3% · 20/25
- Fwd implied growth11.2% · 12/25
Profitability100
- ROIC58.9% · 25/25
- ROE72.0% · 25/25
- Net margin25.0% · 25/25
- Operating margin32.0% · 25/25
Health82
- Altman Z17.91 · 25/25
- Current ratio1.17 · 12/25
- Interest coverage34.1x · 25/25
- Net cash / debtD/A 6% · 20/25
Quality95
- Piotroski F8/9 · 25/25
- Beneish M-2.58 · 25/25
- FCF conversion110% · 25/25
- Margin stabilityσ 5.2% · 20/25
Moat100
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin58.4% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 12.5% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$1.06B net income
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$1.78B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (62.5%)
- Strongly profitable — 25.0% net margin
- Revenue growing 12.8% year over year
- Strong cash conversion — FCF is 27.5% of revenue
- Could repay net debt from ~0.7 years of free cash flow
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+12.8% YoY
- Profitable — makes more than it spends$1.14B TTM
- Profit growing — earnings are higher than last year+17.7% YoY
- Generates cash — cash left after running and investing$1.25B TTM
- Debt under control — could handle its obligations~0.2y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$40.8B market cap
- Not printing shares — share count not ballooning — you keep your slice-6.6% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 17.9 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 35.8
Peer comparisonIdexx Laboratories Inc vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| IDXX this company | $40.8B | 35.8 | +12.8% | 25.0% | Solid |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: IDXX vs LLY · IDXX vs JNJ · IDXX vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/IDXX
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of IDXX on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $518.00 · market cap $40.8B.