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IDEXX Laboratories, Inc. (IDXX) vs Thermo Fisher Scientific Inc. (TMO)

IDEXX Laboratories, Inc. and Thermo Fisher Scientific Inc. are both Diagnostics & Research companies. Thermo Fisher Scientific Inc. is the larger, with a market value of $250.8B against $52.8B — 4.7× the size. Thermo Fisher Scientific Inc. trades at the lower P/E: 35.8× against 44.8×. IDEXX Laboratories, Inc. grew revenue faster over the last twelve months: 11.9% against 8.27%. IDEXX Laboratories, Inc. has the higher net margin (25.4% vs 14.9%) and the higher return on invested capital (46.0% vs 6.03%). Across the 22 metrics below, IDEXX Laboratories, Inc. leads on 13 and Thermo Fisher Scientific Inc. on 9.

Valuation

Metric IDXX TMO Diagnostics & Research median
P/E 44.83 35.78 34.52
P/S 11.31 5.31 4.24
P/B 28.21 4.59 3.42
Price to free cash flow 40.57 32.92 33.51
EV/EBITDA 31.80 24.58 23.44
EV/Sales 11.35 6.01 5.18
Earnings yield 2.23% 2.79% (1.50%)
Free cash flow yield 2.47% 3.04% 0.00%

Profitability

Metric IDXX TMO Diagnostics & Research median
Gross margin 62.72% 41.08% 48.32%
Operating margin 32.30% 17.89% (5.68%)
Net margin 25.36% 14.94% (4.10%)
Free cash flow margin 27.88% 16.13% 0.00%
Return on equity 68.93% 13.37% 0.00%
Return on assets 33.33% 6.51% (6.05%)
Return on invested capital 46.00% 6.03% 0.00%

Growth

Metric IDXX TMO Diagnostics & Research median
Revenue growth (TTM) 11.87% 8.27% 8.99%
EPS growth (last fiscal year) 22.59% 7.32% 20.36%
Revenue growth, 5-year CAGR 9.72% 6.70% 7.30%
Net income growth, 5-year CAGR 12.74% 1.01% 0.00%

Health

Metric IDXX TMO Diagnostics & Research median
Debt to equity 0.20 0.71 0.01
Current ratio 1.19 1.81 2.27
Net debt to EBITDA 0.18 2.45 0.68

Dividend

Metric IDXX TMO Diagnostics & Research median
Dividend yield — 0.27% 0.67%
Payout ratio — 0.10 0.20

Size

Metric IDXX TMO Diagnostics & Research median
Market cap 52.84b 250.82b 2.22b

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