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Mesa Laboratories, Inc.

MLAB Technology Scientific & Technical Instruments

Mesa Laboratories, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $249.1 million, up 3.38% from fiscal 2025. In the quarter to June 2026, revenue grew 1.00%, EPS fell 42.5%, free cash flow grew 1,503.7% and total debt rose 70.6%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.

122.48 5.26 −4.12%
Market cap
$714.8M
P/E
142×
Fwd P/E
76.4×
Dividend yield
0.52%
F-score
7/9
Altman Z
1.45
Beneish M
−2.80
Dividend safety
67/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 1.35
Total sells 1.57
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — 3 — — — — 2 — —
Sell — — — — — — — 6 — 1 — —
Insider Ownership 5.25%

Capital & Financial Ratios $m

Market Cap 714.81
Revenue 249.73
Net Income 4.80
Free Cash Flow 52.87
Net Debt 112.17
Current Ratio 1.79 (at or above 1.5: strong)
Debt/Equity 0.76
P/E ratio 142.42 (above 35: high)
Fwd P/E 76.40 (above 35: high)
P/S ratio 2.77
P/B ratio 3.67
Past 5Y EPS Growth 13.59%
This Y EPS Growth (10.69%) (below 0%: weak)
Next Y EPS Growth 6.82%
Next Y revenue growth 2.12%
Next 5Y EPS Growth (5.81%) (below 0%: weak)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.2×, against a ten-year median of 5.6×; over the ten years it ranged from 1.8× in 2025 to 11.6× in 2021.
P/E against its own 10 years 57.96%
10-year low 10-year high
P/S against its own 10 years 20.64%
10-year low 10-year high
P/B against its own 10 years 43.27%
10-year low 10-year high
EV/Sales against its own 10 years 15.52%
10-year low 10-year high
EV/FCF against its own 10 years 5.85%
10-year low 10-year high

Dividends

Payout Ratio 0.76
Annual Dividend Rate 0.64
Annual Dividend Yield 0.52%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.64
0.16
0.16
0.16
2025 0.64
0.16
0.16
0.16
0.16
2024 0.64
0.16
0.16
0.16
0.16
2023 0.64
0.16
0.16
0.16
0.16
2022 0.64
0.16
0.16
0.16
0.16
2021 0.64
0.16
0.16
0.16
0.16
2020 0.64
0.16
0.16
0.16
0.16
2019 0.64
0.16
0.16
0.16
0.16
2018 0.64
0.16
0.16
0.16
0.16
2017 0.64
0.16
0.16
0.16
0.16
2016 0.64
0.16
0.16
0.16
0.16
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 28 27 27 31
Receivables 39 42 44 34
Inventory 33 25 26 27
Other 81 — 79 —
109 103 106 103
2024 2025 2026 Q'26
Payables 6 6 5 7
ST’ Debt — 4 6 6
Other 15 15 15 15
44 164 62 57

Compound Annual Growth %

10y 5y 3y
Sales 11.40% 13.22% 4.38%
Cash Flow 9.74% 2.93% 15.24%
Earnings (4.96%) 15.44% 93.25%
Book Value 8.20% (14.44%) (22.07%)

Revenue $m

Jun Sep Dec Mar Year
’26 60 — — — —
’26 60 61 65 64 249
’25 58 58 63 62 241
’24 51 53 53 59 216
’23 50 59 54 56 219
’22 35 36 55 59 184
’21 30 32 34 38 134
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 15 — — — —
’26 2 8 19 14 43
’25 11 5 18 13 47
’24 10 10 12 13 44
’23 (3) 11 8 13 28
’22 10 4 16 9 39
’21 2 10 11 14 37
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 14 — — — —
’26 1 7 18 14 40
’25 10 3 17 12 42
’24 10 9 10 12 42
’23 (3) 9 6 11 23
’22 9 3 14 9 35
’21 2 10 11 12 35
Fiscal quarters ending in the months shown.

EPS $

Jun Sep Dec Mar Year
’26 0.49 — — — —
’26 0.85 0.45 0.65 (0.75) 1.21
’25 0.62 0.63 (0.31) (1.31) (0.36)
’24 (0.10) (0.23) 0.39 (47.20) (47.20)
’23 (0.27) 0.24 0.08 0.11 0.17
’22 0.38 0.70 (0.39) (0.34) 0.35
’21 0.22 0.51 (0.89) 0.74 0.64
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 113.57 122.35 181.21 181.90 232.88 114.21 82.86 83.68 55.45 71.07

Analyst estimates 2027–2029

Powerpack
High 169.81 224.95 268.47 292.19 333.42 332.95 206.36 141.17 155.12 144.35
People
People Employees 381 366 347 460 506 681 698 736 730 717
Revenue/emp, $m 0.25 0.26 0.30 0.26 0.26 0.27 0.31 0.29 0.33 0.35
Income, $m
Income, $m Revenue 94 96 103 118 134 184 219 216 241 249
Gross margin, % 56.84 56.79 59.06 55.54 64.97 59.18 61.02 61.64 62.61 63.53
EBT 14 0 9 4 2 4 0 (276) 6 12
EBT margin, % 15.26 0.31 8.36 3.28 1.72 1.94 (0.18) (127.50) 2.47 4.82
Net income 11 (3) 7 2 3 2 1 (254) (2) 7
Depreciation 9 23 14 21 17 11 33 307 26 23
Per share, $
Per share, $ Revenue 25.46 25.51 26.87 28.02 26.92 35.37 41.17 40.14 44.45 45.18
Earnings 3.04 (0.79) 1.95 0.32 0.66 0.36 0.17 (47.20) (0.36) 1.22
Cash flow 4.70 6.82 7.96 6.43 7.45 7.53 5.26 8.19 8.63 7.77
Capex (3.15) (0.44) 0.25 (0.35) (0.40) (0.85) (0.85) (0.48) (0.83) (0.59)
Free cash flow 1.55 6.38 8.21 6.07 7.05 6.68 4.41 7.72 7.80 7.18
Book value 26.59 26.36 28.99 52.38 81.65 75.56 73.95 26.99 29.48 33.78
Shares, m 4 4 4 4 5 5 5 5 5 6
Valuation, ×
Valuation, × P/E 40.50 0.00 117.38 471.02 392.74 688.86 1,027.82 0.00 0.00 71.89
P/S 4.82 5.58 8.52 8.07 9.04 7.21 4.24 2.79 2.67 1.96
P/B 4.61 5.40 7.89 4.32 2.98 3.37 2.36 4.15 4.02 2.62
EV/Sales 5.36 6.02 8.64 8.58 8.17 8.14 4.94 3.70 2.89 2.46
EV/FCF 88.13 24.07 28.28 39.58 31.19 43.12 46.20 19.23 16.37 15.46
Cash, $m
Cash, $m Operating cash flow 17 26 31 27 37 39 28 44 47 43
Capex (12) (2) 1 (1) (2) (4) (5) (3) (4) (3)
Free cash flow 6 24 32 26 35 35 23 42 42 40
Balance, $m
Balance, $m Working capital 19 15 10 97 271 76 76 65 (61) 44
Total debt 55 46 23 141 147 221 186 222 81 151
Net debt 49 41 13 60 (117) 172 153 193 53 125
Shareholders’ equity 98 99 111 220 406 394 393 145 160 186
Returns, %
Returns, % ROA 6.73 (1.76) 4.66 0.63 0.65 0.29 0.14 (45.87) (0.45) 1.56
ROIC 6.95 0.97 4.94 1.77 2.67 0.52 0.38 (50.18) 4.79 3.72
ROE 12.26 (3.00) 7.10 1.07 1.05 0.47 0.24 (94.36) (1.29) 3.88
Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Mesa Laboratories, Inc. vs peers in Scientific & Technical Instruments (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
NOVT Novanta Inc. $5.1B 81.0× 62.9× +10.27% (above 0%: growing) +158.33% (above 0%: growing) +391.84% (above 0%: growing) 45.49% 6.79% Compare
VNT Vontier Corporation $4.5B 13.7× 8.6× −2.17% (below 0%: shrinking) −67.74% (below 0%: shrinking) +13.79% (above 0%: growing) 48.24% 19.39% Compare
ITRI Itron, Inc. $3.7B 13.6× 15.4× −7.23% (below 0%: shrinking) −19.33% (below 0%: shrinking) −10.13% (below 0%: shrinking) 40.97% 13.51% Compare
BMI Badger Meter, Inc. $3.7B 29.6× 27.2× −6.63% (below 0%: shrinking) −13.56% (below 0%: shrinking) −46.19% (below 0%: shrinking) 40.83% 17.71% Compare
ITRN Ituran Location and Control Ltd. $990.9M 15.3× 18.0× +20.73% (above 0%: growing) +31.34% (above 0%: growing) +50.20% (above 0%: growing) 50.91% 22.67% Compare
VPG Vishay Precision Group, Inc. $853.3M 201× 149× +11.67% (above 0%: growing) n/m −129.99% (below 0%: shrinking) 38.65% (0.35%) Compare
MLAB Mesa Laboratories, Inc. $714.8M 142× 76.4× +1.00% (above 0%: growing) −42.53% (below 0%: shrinking) +1,503.73% (above 0%: growing) 64.87% 11.69%
USBC USBC, INC. $173.7M — (loss-making) — −96.18% (below 0%: shrinking) n/m +689.02% (above 0%: growing) 0.00% 0.00% Compare
SOTK Sono-Tek Corporation $96.0M 50.0× 46.5× +1.35% (above 0%: growing) −22.33% (below 0%: shrinking) +290.80% (above 0%: growing) 52.88% 7.29% Compare
Median of peers $2.3B 29.6× 27.2× −0.41% −16.44% +32.00% 43.23% 10.40%

All 34 Scientific & Technical Instruments stocks →

Mesa Laboratories, Inc. (MLAB) key facts

  • Strength: Mesa Laboratories, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $249.1 million, up 3.38% from fiscal 2025.
  • Mesa Laboratories, Inc. (MLAB) is a Scientific & Technical Instruments company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, MLAB traded at $122.48, a market capitalization of $714.8 million.
  • Mesa Laboratories, Inc. pays an annual dividend of $0.64 per share, a yield of 0.52%, with a payout ratio of 76.2%.
  • Return on equity was 3.88% and debt-to-equity 0.76.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.45 (distress zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

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