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IDEXX Laboratories, Inc. (IDXX) vs Labcorp Holdings Inc. (LH)

IDEXX Laboratories, Inc. and Labcorp Holdings Inc. are both Diagnostics & Research companies. IDEXX Laboratories, Inc. is the larger, with a market value of $52.8B against $29.5B — 1.8× the size. Labcorp Holdings Inc. trades at the lower P/E: 29.5× against 44.8×. IDEXX Laboratories, Inc. grew revenue faster over the last twelve months: 11.9% against 6.02%. IDEXX Laboratories, Inc. has the higher net margin (25.4% vs 6.88%) and the higher return on invested capital (46.0% vs 6.76%). Across the 22 metrics below, IDEXX Laboratories, Inc. leads on 13 and Labcorp Holdings Inc. on 9.

Valuation

Metric IDXX LH Diagnostics & Research median
P/E 44.83 29.53 34.52
P/S 11.31 2.01 4.24
P/B 28.21 3.32 3.42
Price to free cash flow 40.57 25.40 33.51
EV/EBITDA 31.80 15.61 23.44
EV/Sales 11.35 2.36 5.18
Earnings yield 2.23% 3.39% (1.50%)
Free cash flow yield 2.47% 3.94% 0.00%

Profitability

Metric IDXX LH Diagnostics & Research median
Gross margin 62.72% 28.96% 48.32%
Operating margin 32.30% 10.29% (5.68%)
Net margin 25.36% 6.88% (4.10%)
Free cash flow margin 27.88% 8.87% 0.00%
Return on equity 68.93% 11.45% 0.00%
Return on assets 33.33% 5.40% (6.05%)
Return on invested capital 46.00% 6.76% 0.00%

Growth

Metric IDXX LH Diagnostics & Research median
Revenue growth (TTM) 11.87% 6.02% 8.99%
EPS growth (last fiscal year) 22.59% 18.33% 20.36%
Revenue growth, 5-year CAGR 9.72% (0.04%) 7.30%
Net income growth, 5-year CAGR 12.74% (10.85%) 0.00%

Health

Metric IDXX LH Diagnostics & Research median
Debt to equity 0.20 0.60 0.01
Current ratio 1.19 1.41 2.27
Net debt to EBITDA 0.18 2.23 0.68

Dividend

Metric IDXX LH Diagnostics & Research median
Dividend yield — 0.79% 0.67%
Payout ratio — 0.24 0.20

Size

Metric IDXX LH Diagnostics & Research median
Market cap 52.84b 29.50b 2.22b

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