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Danaher Corporation (DHR) vs IDEXX Laboratories, Inc. (IDXX)

Danaher Corporation and IDEXX Laboratories, Inc. are both Diagnostics & Research companies. Danaher Corporation is the larger, with a market value of $159.2B against $52.8B — 3.0× the size. Danaher Corporation trades at the lower P/E: 37.0× against 44.8×. IDEXX Laboratories, Inc. grew revenue faster over the last twelve months: 11.9% against 5.52%. IDEXX Laboratories, Inc. has the higher net margin (25.4% vs 16.9%) and the higher return on invested capital (46.0% vs 4.51%). Across the 22 metrics below, IDEXX Laboratories, Inc. leads on 13 and Danaher Corporation on 9.

Valuation

Metric DHR IDXX Diagnostics & Research median
P/E 36.97 44.83 34.52
P/S 6.22 11.31 4.24
P/B 2.97 28.21 3.42
Price to free cash flow 27.69 40.57 33.51
EV/EBITDA 22.31 31.80 23.44
EV/Sales 6.95 11.35 5.18
Earnings yield 2.70% 2.23% (1.50%)
Free cash flow yield 3.61% 2.47% 0.00%

Profitability

Metric DHR IDXX Diagnostics & Research median
Gross margin 58.59% 62.72% 48.32%
Operating margin 20.38% 32.30% (5.68%)
Net margin 16.91% 25.36% (4.10%)
Free cash flow margin 22.46% 27.88% 0.00%
Return on equity 8.27% 68.93% 0.00%
Return on assets 5.00% 33.33% (6.05%)
Return on invested capital 4.51% 46.00% 0.00%

Growth

Metric DHR IDXX Diagnostics & Research median
Revenue growth (TTM) 5.52% 11.87% 8.99%
EPS growth (last fiscal year) (4.54%) 22.59% 20.36%
Revenue growth, 5-year CAGR 1.97% 9.72% 7.30%
Net income growth, 5-year CAGR 0.59% 12.74% 0.00%

Health

Metric DHR IDXX Diagnostics & Research median
Debt to equity 0.45 0.20 0.01
Current ratio 1.63 1.19 2.27
Net debt to EBITDA 1.93 0.18 0.68

Dividend

Metric DHR IDXX Diagnostics & Research median
Dividend yield 0.67% — 0.67%
Payout ratio 0.25 — 0.20

Size

Metric DHR IDXX Diagnostics & Research median
Market cap 159.24b 52.84b 2.22b

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