IDXX Healthcare

IDEXX Laboratories, Inc.

$672.04+0.06%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Healthcare
Industry: Diagnostics & Research
Country: United States
Market cap: 52.9B USD
Enterprise value: 44.4B USD
Full-time employees: 11,000

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.55 vs a peer median of 0.63) and less short-term liquidity (current ratio 1.17 vs a peer median of 2.59)higher risk: bigger price swings (beta 1.55 vs peers 0.63) and less liquidity (current ratio 1.17 vs peers 2.59)
About average: growth and valuation

Ranks #443 of 1,157 healthcare companies (top 39%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 32% in 2025, the best of the last 6 years.
IDEXX Laboratories kept 32% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Profits growing faster than sales. Since 2022: revenue +28%, operating profit +51%.
Since 2022, IDEXX Laboratories's revenue grew 28% while operating profit grew 51%: each extra dollar of sales is adding more profit.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $2.7B in 2020 to $4.3B in 2025.
IDEXX Laboratories's fiscal-year revenue rose in each of the five years to 2025, from $2.7B to $4.3B.
Profit is backed by cash. Free cash flow is 110% of reported profit.
IDEXX Laboratories's free cash flow is 110% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

57/ 100▼ 1 since Oct 27 close

Oct 5 58 → Nov 4 57 (-1)

Valuation

Is the price right?

49/100

Moderate▼ 2 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 51 → 49

Share price +19.7%-1
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.46Sector median: 0.0148 · MAD: 0.0148

EBITDA yield3.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.24Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield2.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield3.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

58/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.4%

Why

Helped by:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth17.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.26Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth9.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.38Sector median: 0.0584 · MAD: 0.0840

Revenue growth12.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.68Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

99/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin32.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.05Sector median: 0.0706 · MAD: 0.1217

Return on assets33.1%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 2.47Sector median: 0.0166 · MAD: 0.0537

Return on invested capital61.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.81Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin62.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity70.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.55

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.73Sector median: 0.6250 · MAD: 0.3380

Current ratio1.17×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.02Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.28×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.28Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about IDEXX Laboratories

Is IDEXX Laboratories getting weaker?: Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is 57/100, down 1 since Oct 28, 2026.
How is IDEXX Laboratories valued vs its peers?: Priced about in line with its peers. Valuation scores 49/100 against 1,393 healthcare peers.
Is IDEXX Laboratories growing?: At about the same pace as its peers. Growth scores 58/100 against 1,393 healthcare peers. Revenue growth 12.8% vs a peer median of 6.1% (stronger than 67% of peers).Revenue growth 12.8% vs peers 6.1% (stronger than 67% of peers).
How profitable is IDEXX Laboratories?: More profitable than most of its peers. Profitability scores 99/100 against 1,393 healthcare peers. Return on assets 33.1% vs a peer median of 1.7% (stronger than 95% of peers).Return on assets 33.1% vs peers 1.7% (stronger than 95% of peers).
How risky is IDEXX Laboratories?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 1.55 vs a peer median of 0.63 (weaker than 88% of peers).Beta 1.55 vs peers 0.63 (weaker than 88% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.4B USD	4.6B USD	+2.4%
Net income (12 months)	1.1B USD	1.1B USD	+4.1%
Operating margin	31.6%	32.0%	+0.4 pts
Free cash flow (12 months)	1.1B USD	1.3B USD	+15.8%
Debt	449.9M USD	449.9M USD	+0.0%
Cash	200.5M USD	196.9M USD	−1.8%
Shares outstanding	78.9M	78.8M	−0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Diagnostics & Research · 26 companies

Valuations in Diagnostics & Research are within their usual range since Nov 2018.

53% of months since Nov 2018 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +109% vs the whole market, against a usual +111%.

Nov 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	58.8%	59.5%	59.8%	61.0%	61.8%	▲ 0.8 pts
Operating margin	29.0%	26.7%	30.0%	29.0%	31.6%	▲ 2.7 pts
Net margin	23.2%	20.2%	23.1%	22.8%	24.6%	▲ 1.8 pts
Return on assets (ROA)	30.6%	24.7%	25.9%	27.0%	31.6%	▲ 4.7 pts
Return on equity (ROE)	107.9%	111.6%	56.9%	55.7%	66.0%	▲ 10 pts
Free cash flow margin	19.8%	11.7%	21.1%	20.7%	24.6%	▲ 3.8 pts
Current ratio	1.25×	0.89×	1.57×	1.31×	1.23×	▼ 6.1%
Quick ratio	0.90×	0.59×	1.17×	0.95×	0.90×	▼ 5.4%
Debt to equity	1.23×	1.26×	0.47×	0.39×	0.28×	▼ 28%
Interest coverage	31.27×	22.55×	26.39×	36.16×	35.01×	▼ 3.2%

IDXX price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.55 vs a peer median of 0.63) and less short-term liquidity (current ratio 1.17 vs a peer median of 2.59)higher risk: bigger price swings (beta 1.55 vs peers 0.63) and less liquidity (current ratio 1.17 vs peers 2.59)

About average: growth and valuation

Ranks #443 of 1,157 healthcare companies (top 39%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 32% in 2025, the best of the last 6 years.

IDEXX Laboratories kept 32% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Profits growing faster than sales. Since 2022: revenue +28%, operating profit +51%.

Since 2022, IDEXX Laboratories's revenue grew 28% while operating profit grew 51%: each extra dollar of sales is adding more profit.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $2.7B in 2020 to $4.3B in 2025.

IDEXX Laboratories's fiscal-year revenue rose in each of the five years to 2025, from $2.7B to $4.3B.

Profit is backed by cash. Free cash flow is 110% of reported profit.

IDEXX Laboratories's free cash flow is 110% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about IDEXX Laboratories

Is IDEXX Laboratories getting weaker?

Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is 57/100, down 1 since Oct 28, 2026.

How is IDEXX Laboratories valued vs its peers?

Priced about in line with its peers. Valuation scores 49/100 against 1,393 healthcare peers.

Is IDEXX Laboratories growing?

At about the same pace as its peers. Growth scores 58/100 against 1,393 healthcare peers. Revenue growth 12.8% vs a peer median of 6.1% (stronger than 67% of peers).Revenue growth 12.8% vs peers 6.1% (stronger than 67% of peers).

How profitable is IDEXX Laboratories?

More profitable than most of its peers. Profitability scores 99/100 against 1,393 healthcare peers. Return on assets 33.1% vs a peer median of 1.7% (stronger than 95% of peers).Return on assets 33.1% vs peers 1.7% (stronger than 95% of peers).

How risky is IDEXX Laboratories?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 1.55 vs a peer median of 0.63 (weaker than 88% of peers).Beta 1.55 vs peers 0.63 (weaker than 88% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.4B USD

4.6B USD

+2.4%

Net income (12 months)

1.1B USD

1.1B USD

+4.1%

Operating margin

31.6%

32.0%

+0.4 pts

Free cash flow (12 months)

1.1B USD

1.3B USD

+15.8%

Debt

449.9M USD

449.9M USD

+0.0%

Cash

200.5M USD

196.9M USD

−1.8%

Shares outstanding

78.9M

78.8M

−0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

58.8%

59.5%

59.8%

61.0%

61.8%

▲ 0.8 pts

Operating margin

29.0%

26.7%

30.0%

29.0%

31.6%

▲ 2.7 pts

Net margin

23.2%

20.2%

23.1%

22.8%

24.6%

▲ 1.8 pts

Return on assets (ROA)

30.6%

24.7%

25.9%

27.0%

31.6%

▲ 4.7 pts

Return on equity (ROE)

107.9%

111.6%

56.9%

55.7%

66.0%

▲ 10 pts

Free cash flow margin

19.8%

11.7%

21.1%

20.7%

24.6%

▲ 3.8 pts

Current ratio

1.25×

0.89×

1.57×

1.31×

1.23×

▼ 6.1%

Quick ratio

0.90×

0.59×

1.17×

0.95×

0.90×

▼ 5.4%

Debt to equity

1.23×

1.26×

0.47×

0.39×

0.28×

▼ 28%

Interest coverage

31.27×

22.55×

26.39×

36.16×

35.01×

▼ 3.2%