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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 $257.5B against $43.1B — 6.0× the size. Thermo Fisher Scientific Inc. trades at the lower P/E: 37.1× against 39.1×. IDEXX Laboratories, Inc. grew revenue faster over the last twelve months: 12.8% against 7.23%. IDEXX Laboratories, Inc. has the higher net margin (25.0% vs 15.0%) and the higher return on invested capital (48.9% vs 5.80%). 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 39.10 37.06 35.56
P/S 9.72 5.52 4.37
P/B 27.44 4.86 3.06
Price to free cash flow 35.76 34.77 35.76
EV/EBITDA 27.59 26.25 24.35
EV/Sales 9.77 6.28 5.51
Earnings yield 2.56% 2.70% (1.89%)
Free cash flow yield 2.80% 2.88% (0.15%)

Profitability

Metric IDXX TMO Diagnostics & Research median
Gross margin 62.45% 40.80% 50.89%
Operating margin 32.03% 17.58% (8.57%)
Net margin 25.03% 15.04% (6.37%)
Free cash flow margin 27.17% 15.89% 0.00%
Return on equity 74.21% 13.51% (2.92%)
Return on assets 33.65% 6.50% (6.71%)
Return on invested capital 48.87% 5.80% 0.00%

Growth

Metric IDXX TMO Diagnostics & Research median
Revenue growth (TTM) 12.77% 7.23% 7.69%
EPS growth (last fiscal year) 22.59% 7.32% 25.92%
Revenue growth, 5-year CAGR 9.72% 6.70% 7.40%
Net income growth, 5-year CAGR 12.74% 1.01% 0.00%

Health

Metric IDXX TMO Diagnostics & Research median
Debt to equity 0.28 0.74 0.11
Current ratio 1.17 1.55 2.02
Net debt to EBITDA 0.18 2.45 0.70

Dividend

Metric IDXX TMO Diagnostics & Research median
Dividend yield — 0.27% 0.66%
Payout ratio — 0.10 0.20

Size

Metric IDXX TMO Diagnostics & Research median
Market cap 43.11b 257.53b 2.16b

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