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IDEXX Laboratories, Inc.

IDXX Healthcare Diagnostics & Research

IDEXX Laboratories, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.3 billion, up 10.4% from fiscal 2024. In the quarter to June 2026, revenue grew 9.66%, EPS grew 17.2%, free cash flow grew 111.4% and total debt fell 14.3%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for three.

560.36 13.18 +2.41%
Market cap
$43.1B
P/E
39.1×
Fwd P/E
38.3×
Dividend yield
—
F-score
8/9
Altman Z
24.09
Beneish M
−2.50
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 37.66
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 — — 5 1 — — — — — 1 —
Insider Ownership 0.60%

Capital & Financial Ratios $m

Market Cap 43,110.00
Revenue 4,553.22
Net Income 1,139.66
Free Cash Flow 1,237.09
Net Debt 252.93
Current Ratio 1.17
Debt/Equity 0.28 (at or below 0.5: strong)
P/E ratio 39.10 (above 35: high)
Fwd P/E 38.30 (above 35: high)
P/S ratio 9.72
P/B ratio 27.44 (above 6: high)
Past 5Y EPS Growth 14.28%
This Y EPS Growth 12.82%
Next Y EPS Growth 13.54%
Next Y revenue growth 9.74%
Next 5Y EPS Growth 13.33%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.8×, against a ten-year median of 10.2×; over the ten years it ranged from 4.2× in 2016 to 19.2× in 2021.
P/E against its own 10 years 6.93%
10-year low 10-year high
P/S against its own 10 years 44.08%
10-year low 10-year high
P/B against its own 10 years 17.69%
10-year low 10-year high
EV/Sales against its own 10 years 41.21%
10-year low 10-year high
EV/FCF against its own 10 years 2.14%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 454 288 180 197
Receivables 457 474 552 627
Inventory 380 382 378 392
Other 204 256 304 294
1,495 1,400 1,414 1,509
2023 2024 2025 Q'26
Payables 111 114 110 129
ST’ Debt 75 168 75 150
Other — — — —
952 1,068 1,149 1,288

Compound Annual Growth %

10y 5y 3y
Sales 10.39% 9.72% 8.52%
Cash Flow 18.21% 12.77% 29.59%
Earnings 18.62% 12.74% 15.98%
Book Value 0.00% 20.47% 38.16%

Revenue $m

Mar Jun Sep Dec Year
’26 1,141 1,217 — — —
’25 998 1,109 1,105 1,091 4,304
’24 964 1,004 976 954 3,898
’23 900 944 916 902 3,661
’22 837 861 842 829 3,367
’21 778 826 810 801 3,215
’20 626 638 722 721 2,707
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 266 347 — — —
’25 238 186 402 356 1,182
’24 199 248 220 262 929
’23 184 200 272 250 907
’22 115 66 189 173 543
’21 124 234 187 210 756
’20 28 208 193 219 648
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 232 321 — — —
’25 208 152 358 326 1,044
’24 91 215 192 223 798
’23 144 173 238 217 773
’22 73 36 151 124 384
’21 100 211 142 178 636
’20 (22) 184 174 205 540
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 3.47 4.27 — — —
’25 2.96 3.63 3.40 3.08 13.08
’24 2.81 2.44 2.80 2.62 10.67
’23 2.55 2.67 2.53 2.32 10.06
’22 2.27 1.56 2.15 2.05 8.03
’21 2.35 2.34 2.03 1.89 8.60
’20 1.29 1.72 1.69 2.01 6.71
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 63.48 113.92 157.53 176.11 168.65 455.23 317.06 372.50 398.50 356.14

Analyst estimates 2026–2028

Powerpack
High 121.77 173.01 256.22 294.57 503.83 706.95 656.31 568.30 583.39 769.98
People
People Employees 7,365 7,600 8,377 9,200 9,300 10,350 10,780 11,000 11,000 11,000
Revenue/emp, $m 0.24 0.26 0.26 0.26 0.29 0.31 0.31 0.33 0.35 0.39
Income, $m
Income, $m Revenue 1,775 1,969 2,213 2,407 2,707 3,215 3,367 3,661 3,898 4,304
Gross margin, % 54.94 55.73 56.10 56.73 58.04 58.76 59.52 59.82 61.04 61.80
EBT 322 381 458 522 662 903 860 1,061 1,110 1,324
EBT margin, % 18.13 19.35 20.68 21.70 24.46 28.07 25.54 28.99 28.48 30.77
Net income 222 263 377 428 582 745 679 845 888 1,059
Depreciation 79 83 83 88 96 105 112 115 130 145
Per share, $
Per share, $ Revenue 19.79 22.43 25.48 27.95 31.72 37.74 40.27 44.07 47.26 53.51
Earnings 2.47 3.00 4.34 4.97 6.82 8.74 8.12 10.17 10.77 13.17
Cash flow 3.78 4.25 4.61 5.33 7.59 8.87 6.49 10.91 11.27 14.69
Capex (0.72) (0.87) (1.42) (1.80) (1.26) (1.40) (1.90) (1.61) (1.59) (1.72)
Free cash flow 3.06 3.38 3.19 3.53 6.33 7.46 4.59 9.30 9.68 12.98
Book value (1.21) (0.61) (0.11) 2.07 7.41 8.10 7.28 17.87 19.34 19.96
Shares, m 90 88 87 86 85 85 84 83 82 80
Valuation, ×
Valuation, × P/E 47.42 52.60 42.96 52.65 73.40 75.34 50.00 53.85 38.39 51.33
P/S 5.94 7.03 7.30 9.34 15.76 17.45 10.08 12.43 8.75 12.64
P/B 0.00 0.00 0.00 126.46 67.42 81.31 55.77 30.65 21.37 33.89
EV/Sales 6.06 7.10 7.52 9.72 15.95 17.67 10.28 12.49 8.83 12.71
EV/FCF 39.23 47.16 60.54 78.85 79.91 89.94 90.09 59.95 47.74 57.16
Cash, $m
Cash, $m Operating cash flow 339 373 400 459 648 756 543 907 929 1,182
Capex (65) (77) (123) (155) (108) (120) (159) (134) (131) (138)
Free cash flow 274 297 277 304 540 636 384 773 798 1,044
Balance, $m
Balance, $m Working capital (89) (33) (116) (46) 480 192 (134) 544 332 265
Total debt 1,204 1,261 1,000 1,003 908 850 769 698 618 450
Net debt 812 789 877 913 525 706 657 244 329 270
Shareholders’ equity (108) (54) (9) 178 633 690 609 1,485 1,595 1,605
Returns, %
Returns, % ROA 14.77 16.22 23.20 25.39 28.19 31.48 26.20 28.14 27.10 31.89
ROIC 31.09 35.11 35.41 31.69 37.51 41.74 44.39 39.67 36.64 45.33
ROE (231.05) (324.76) (1,195.50) 507.40 143.54 112.62 104.58 80.74 57.66 66.20
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

IDEXX Laboratories, Inc. vs peers in Diagnostics & Research (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NTRA Natera, Inc. $58.4B — (loss-making) — (loss-making) +37.71% (above 0%: growing) n/m −173.96% (below 0%: shrinking) 64.46% (10.07%) Compare
A Agilent Technologies, Inc. $49.5B 34.0× 26.3× +8.06% (above 0%: growing) +8.47% (above 0%: growing) +69.50% (above 0%: growing) 55.48% 23.64% Compare
IQV IQVIA Holdings Inc. $44.6B 32.8× 22.3× +8.74% (above 0%: growing) −0.65% (below 0%: shrinking) +23.29% (above 0%: growing) 32.85% 11.58% Compare
WAT Waters Corporation $43.6B 109× 44.3× +113.36% (above 0%: growing) n/m +750.00% (above 0%: growing) 44.62% (5.23%) Compare
IDXX IDEXX Laboratories, Inc. $43.1B 39.1× 38.3× +9.66% (above 0%: growing) +17.21% (above 0%: growing) +111.44% (above 0%: growing) 64.04% 34.98%
ILMN Illumina, Inc. $40.5B 48.4× 34.7× +9.44% (above 0%: growing) −8.05% (below 0%: shrinking) −18.27% (below 0%: shrinking) 66.44% 21.14% Compare
MTD Mettler-Toledo International, Inc. $32.8B 36.4× 25.5× +4.48% (above 0%: growing) +18.30% (above 0%: growing) +33.01% (above 0%: growing) 63.29% 30.61% Compare
DGX Quest Diagnostics Incorporated $26.4B 24.6× 20.8× +10.21% (above 0%: growing) +14.74% (above 0%: growing) +5.28% (above 0%: growing) 33.75% 15.08% Compare
LH Labcorp Holdings Inc. $26.4B 26.2× 19.0× +5.78% (above 0%: growing) +28.42% (above 0%: growing) −42.01% (below 0%: shrinking) 29.80% 12.10% Compare
Median of peers $42.1B 34.0× 25.5× +9.09% +11.61% +14.29% 50.05% 13.59%

All 52 Diagnostics & Research stocks →

IDXX metrics, ten years each

IDEXX Laboratories, Inc. (IDXX) key facts

  • Strength: IDEXX Laboratories, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.3 billion, up 10.4% from fiscal 2024.
  • Strength: Net income was $1.1 billion, or $13.17 per share (basic), a net margin of 24.6%.
  • IDEXX Laboratories, Inc. (IDXX) is a Diagnostics & Research company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, IDXX traded at $560.36, a market capitalization of $43.1 billion.
  • At that price the stock trades at 39.1× trailing-twelve-month earnings and 9.7× sales; its P/E is higher than 7% of its own readings over the past ten years.
  • Return on equity was 66.2% and debt-to-equity 0.28.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 24.09 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

IDEXX Laboratories, Inc. (IDXX) Latest News

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stockrow.com/IDXX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com