IDEXX Laboratories, Inc. (IDXX) vs Waters Corporation (WAT)

IDEXX Laboratories, Inc. and Waters Corporation are both Diagnostics & Research companies. IDEXX Laboratories, Inc. is the larger, with a market value of $52.8B against $44.5B — 1.2× the size. IDEXX Laboratories, Inc. trades at the lower P/E: 44.8× against 194×. Waters Corporation grew revenue faster over the last twelve months: 80.7% against 11.9%. IDEXX Laboratories, Inc. has the higher net margin (25.4% vs 1.76%) and the higher return on invested capital (46.0% vs 1.13%). Across the 22 metrics below, IDEXX Laboratories, Inc. leads on 17 and Waters Corporation on 5.

Valuation

Metric IDXX WAT Diagnostics & Research median
P/E 44.83 193.97 34.52
P/S 11.31 7.96 4.24
P/B 28.21 2.94 3.42
Price to free cash flow 40.57 172.93 33.51
EV/EBITDA 31.80 51.94 23.44
EV/Sales 11.35 8.73 5.18
Earnings yield 2.23% 0.52% (1.50%)
Free cash flow yield 2.47% 0.58% 0.00%

Profitability

Metric IDXX WAT Diagnostics & Research median
Gross margin 62.72% 49.53% 48.32%
Operating margin 32.30% 4.73% (5.68%)
Net margin 25.36% 1.76% (4.10%)
Free cash flow margin 27.88% 4.60% 0.00%
Return on equity 68.93% 0.00% 0.00%
Return on assets 33.33% 0.68% (6.05%)
Return on invested capital 46.00% 1.13% 0.00%

Growth

Metric IDXX WAT Diagnostics & Research median
Revenue growth (TTM) 11.87% 80.69% 8.99%
EPS growth (last fiscal year) 22.59% 0.47% 20.36%
Revenue growth, 5-year CAGR 9.72% 6.00% 7.30%
Net income growth, 5-year CAGR 12.74% 4.26% 0.00%

Health

Metric IDXX WAT Diagnostics & Research median
Debt to equity 0.20 0.00 0.01
Current ratio 1.19 0.66 2.27
Net debt to EBITDA 0.18 0.36 0.68

Dividend

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

Size

Metric IDXX WAT Diagnostics & Research median
Market cap 52.84b 44.51b 2.22b

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack