IDEXX Laboratories, Inc. (IDXX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$3.93	$4.27	+8.7%	—	—	—
Q4 26	$3.41	$3.47	+1.8%	—	—	—
Q3 26	$2.94	$3.08	+4.8%	—	—	—
Q2 26	$3.15	$3.4	+7.9%	—	—	—
Q1 26	$3.3	$3.63	+10.0%	—	—	—
Q4 25	$2.84	$2.96	+4.2%	—	—	—
Q3 25	$2.4	$2.62	+9.2%	—	—	—
Q2 25	$2.69	$2.8	+4.1%	—	—	—
Q1 25	$2.87	$3.02	+5.2%	—	—	—
Q4 24	$2.68	$2.81	+4.9%	—	—	—
Q3 24	$2.12	$2.32	+9.4%	—	—	—
Q2 24	$2.37	$2.53	+6.8%	—	—	—
Q1 24	$2.47	$2.67	+8.1%	—	—	—
Q4 23	$2.43	$2.55	+4.9%	—	—	—
Q3 23	$1.92	$2.05	+6.8%	—	—	—
Q2 23	$2.04	$2.15	+5.4%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$13.2	—	—	$4.3B	—
FY24	—	$10.8	—	—	$3.9B	—
FY23	—	$10.2	—	—	$3.7B	—
FY22	—	$8.12	—	—	$3.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.8B	$2B	$2.2B	$2.4B	$2.7B	$3.2B	$3.4B	$3.7B	$3.9B	$4.3B
YoY change	+10.8%	+10.9%	+12.4%	+8.75%	+12.5%	+18.8%	+4.73%	+8.72%	+6.46%	+10.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.8B	2B	2.2B	2.4B	2.7B	3.2B	3.4B	3.7B	3.9B	4.3B
Cost of revenue	800M	871.7M	971.7M	1B	1.1B	1.3B	1.4B	1.5B	1.5B	1.6B
Gross profit	975.4M	1.1B	1.2B	1.4B	1.6B	1.9B	2B	2.2B	2.4B	2.7B
Gross margin	54.9%	55.7%	56.1%	56.7%	58%	58.8%	59.5%	59.8%	61%	61.8%
Research & development	101.1M	109.2M	117.9M	133.2M	141.2M	161M	254.8M	191M	219.8M	251.2M
Selling, general & administrative	524.1M	575.2M	632.3M	679.5M	735.3M	796.4M	850.8M	901.9M	1B	1B
Operating expenses	625.2M	684.4M	750.2M	812.7M	876.5M	957.4M	1.1B	1.1B	1.3B	1.3B
Operating income	350.2M	413M	491.3M	552.8M	694.5M	932M	898.8M	1.1B	1.1B	1.4B
Operating margin	19.7%	21%	22.2%	23%	25.7%	29%	26.7%	30%	29%	31.6%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	321.8M	381.1M	457.7M	522.2M	662M	902.7M	860M	1.1B	1.1B	1.3B
Income tax	99.8M	117.8M	80.7M	94.4M	79.9M	157.8M	180.9M	216.1M	222M	264.7M
Net income	222.1M	263.3M	377M	427.8M	582.1M	744.8M	679.1M	845M	887.9M	1.1B
Net margin	12.5%	13.4%	17%	17.8%	21.5%	23.2%	20.2%	23.1%	22.8%	24.6%
EBITDA	432.1M	501.4M	575.7M	641.3M	791.1M	1B	1B	1.2B	1.3B	1.5B
EPS	2.47	3	4.34	4.97	6.82	8.74	8.12	10.2	10.8	13.2
Diluted EPS	2.44	2.94	4.26	4.89	6.71	8.6	8.03	10.1	10.7	13.1

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	915.5M	901.6M	964.1M	1B	975.5M	954.3M	998.4M	1.1B	1.1B	1.1B	1.1B	1.2B
Cost of revenue	367.5M	375.4M	371M	384.4M	379.5M	383.6M	375M	414.7M	421.9M	432.5M	418.1M	437.5M
Gross profit	548M	526.2M	593.1M	619.2M	596M	570.7M	623.4M	694.7M	683.4M	658.1M	722.7M	779.1M
Gross margin	59.9%	58.4%	61.5%	61.7%	61.1%	59.8%	62.4%	62.6%	61.8%	60.3%	63.4%	64%
Research & development	48M	51.8M	52.6M	55.5M	54M	57.7M	59.1M	61.9M	63.4M	66.8M	65.8M	65.4M
Selling, general & administrative	224.7M	229.1M	241.5M	299.9M	238.2M	251.2M	247.8M	259.8M	265.1M	275.7M	294.4M	288.1M
Operating expenses	272.7M	280.9M	294.1M	355.4M	292.1M	309M	306.8M	321.7M	328.5M	342.5M	360.2M	353.5M
Operating income	275.3M	245.3M	299M	263.8M	303.9M	261.7M	316.5M	373M	354.8M	315.6M	362.6M	425.6M
Operating margin	30.1%	27.2%	31%	26.3%	31.2%	27.4%	31.7%	33.6%	32.1%	28.9%	31.8%	35%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	1.2M
Pretax income	267.9M	239.7M	295.5M	259.1M	298.9M	256.4M	310.1M	362.4M	344.8M	307M	355.4M	417.2M
Income tax	55.7M	45.1M	59.9M	55.8M	66.1M	40.2M	67.4M	68.4M	70.2M	58.8M	77M	78.8M
Net income	212.2M	194.5M	235.6M	203.3M	232.8M	216.1M	242.7M	294M	274.6M	248.2M	278.4M	338.4M
Net margin	23.2%	21.6%	24.4%	20.3%	23.9%	22.7%	24.3%	26.5%	24.8%	22.8%	24.4%	27.8%
EBITDA	305.5M	278.7M	333.3M	299.3M	340.7M	297.6M	351.8M	409.4M	392.1M	354.9M	400.9M	467.2M
EPS	2.55	2.34	2.84	2.46	2.83	2.64	2.98	3.66	3.43	3.11	3.5	4.29
Diluted EPS	2.53	2.32	2.81	2.44	2.8	2.62	2.96	3.63	3.4	3.08	3.47	4.27

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	10.5B	13.7B	16.2B	22.5B	42.7B	56.1B	34.1B	46.1B	34.1B	54.4B	41.7B
Enterprise value	11.3B	14.5B	17B	23.5B	43.3B	57B	35.5B	46.7B	34.8B	55.2B	41.8B
Shares outstanding	89.7M	87.8M	86.9M	86.1M	85.3M	85.2M	83.6M	83.1M	82.5M	80.4M	80.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	47.4	52.1	42.9	52.6	73.3	75.3	50.2	54.6	38.4	51.4	36.5
P/S	5.93	6.97	7.3	9.34	15.8	17.4	10.1	12.6	8.75	12.6	9
P/B	-97.2	-254.9	-1.8K	126.5	67.4	81.3	56	31.1	21.4	33.9	25.4
EV/EBITDA	26.2	28.9	29.6	36.6	54.7	55	35.1	38.4	27.4	36.6	25.8
EV/Sales	6.38	7.37	7.7	9.75	16	17.7	10.5	12.8	8.93	12.8	9.18
Earnings yield	2.11%	1.92%	2.33%	1.9%	1.36%	1.33%	1.99%	1.83%	2.6%	1.95%	2.74%
FCF yield	2.61%	2.16%	1.72%	1.35%	1.27%	1.13%	1.13%	1.68%	2.34%	1.92%	2.18%
PEG	—	—	—	—	—	—	—	—	—	—	2.12

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	54.9%	55.7%	56.1%	56.7%	58%	58.8%	59.5%	59.8%	61%	61.8%	64%
Operating margin	19.7%	21%	22.2%	23%	25.7%	29%	26.7%	30%	29%	31.6%	35%
Net margin	12.5%	13.4%	17%	17.8%	21.5%	23.2%	20.2%	23.1%	22.8%	24.6%	25%
ROE	-205.2%	-489%	-4.1K%	240.6%	92%	107.9%	111.6%	56.9%	55.7%	66%	74.2%
ROA	14.5%	15.4%	24.5%	23.3%	25.4%	30.6%	24.7%	25.9%	27%	31.6%	27.1%
ROIC	34.3%	38.8%	46.7%	39.1%	48.8%	48.8%	36.1%	41.6%	39.3%	45.3%	46.5%
Return on tangible assets	20.5%	21.5%	36.8%	34.6%	34.2%	49%	37.2%	35.8%	39.3%	46%	47%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.9	0.97	0.85	0.94	1.82	1.25	0.89	1.57	1.31	1.23	1.17
Quick ratio	0.74	0.8	0.62	0.67	1.46	0.9	0.59	1.17	0.95	0.9	0.87
Debt / equity	-11.1	-23.4	-108.3	6.02	1.59	1.49	2.41	0.72	0.62	0.61	0.68
Debt / assets	0.79	0.74	0.65	0.58	0.44	0.42	0.54	0.33	0.3	0.29	0.32
Net debt / EBITDA	1.88	1.57	1.52	1.53	0.78	0.85	1.34	0.5	0.55	0.53	0.56
Interest coverage	11	11.2	14.2	17.8	21	31.3	22.6	26.5	36.6	35.1	38.7
Effective tax rate	31%	30.9%	17.6%	18.1%	12.1%	17.5%	21%	20.4%	20%	20%	20%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	19.8	22.4	25.5	27.9	31.7	37.7	40.3	44.1	47.3	53.5	57.2
EPS (basic)	2.47	3	4.34	4.97	6.82	8.74	8.12	10.2	10.8	13.2	13.2
EPS (diluted)	2.44	2.94	4.26	4.89	6.71	8.6	8.03	10.1	10.7	13.1	14.2
Book value per share	-1.21	-0.61	-0.11	2.06	7.41	8.1	7.28	17.9	19.3	20	20.4
FCF per share	3.06	3.38	3.19	3.53	6.33	7.46	4.59	9.3	9.68	13	15.6
Cash per share	4.37	5.38	1.43	1.05	4.5	1.7	1.35	5.46	3.5	2.24	2.5
Capex per share	0.72	0.85	1.33	1.8	1.25	1.4	1.78	1.61	1.47	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.65%	3.78%	5.23%	6.44%	3.95%	3.72%	4.42%	3.65%	3.1%	—	—
Capex / operating cash flow	18.5%	20%	29.2%	33.9%	16.7%	16%	27.8%	14.9%	13.1%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$915.5M	$901.6M	$964.1M	$1B	$975.5M	$954.3M	$998.4M	$1.1B	$1.1B	$1.1B	$1.1B	$1.2B
YoY change	+8.78%	+8.81%	+7.1%	+6.35%	+6.56%	+5.84%	+3.56%	+10.6%	+13.3%	+14.3%	+14.3%	+9.66%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	391.9M	471.9M	123.8M	90.3M	383.9M	144.5M	112.5M	453.9M	288.3M	180.1M
Receivables	204.5M	234.6M	248.9M	269.3M	331.4M	368.3M	400.6M	457.4M	473.6M	552.4M
Inventory	158M	164.3M	173.3M	195M	209.9M	269M	367.8M	380.3M	381.9M	377.8M
Total current assets	845.6M	972M	654.2M	679.6M	1.1B	955.7M	1.1B	1.5B	1.4B	1.4B
Property, plant & equipment	186M	198.9M	246.5M	364.5M	327M	363.7M	412M	385.6M	383.1M	408.2M
Goodwill & intangibles	448.8M	487.4M	512.6M	596.4M	591.8M	916.8M	918.9M	900.9M	1B	1B
Total assets	1.5B	1.7B	1.5B	1.8B	2.3B	2.4B	2.7B	3.3B	3.3B	3.4B
Accounts payable	60.1M	67M	69.5M	72.2M	74.6M	116.1M	110.2M	110.6M	114.2M	110.4M
Short-term debt	611M	655M	398.9M	304M	67.7M	168.4M	674.4M	344.8M	439.3M	500.1M
Total current liabilities	934.6M	1B	770.4M	725.3M	582.8M	763.6M	1.2B	951.5M	1.1B	1.1B
Long-term debt	593.1M	606.1M	601.3M	766.4M	935.5M	862.6M	795.6M	722.6M	547.6M	476M
Total liabilities	1.6B	1.8B	1.5B	1.7B	1.7B	1.7B	2.1B	1.8B	1.7B	1.7B
Shareholders' equity	-108.2M	-53.8M	-9.2M	177.8M	632.8M	690M	608.7M	1.5B	1.6B	1.6B
Total debt	1.2B	1.3B	1B	1.1B	1B	1B	1.5B	1.1B	986.9M	976.1M
Net debt	1B	1.1B	876.5M	980.1M	619.3M	886.6M	1.4B	613.4M	698.7M	796M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	331.7M	453.9M	397.4M	401.6M	308.6M	288.3M	164M	164.6M	208.2M	180.1M	200.5M	196.9M
Receivables	452.7M	457.4M	507.2M	533.6M	511.3M	473.6M	527.5M	560.6M	566.9M	552.4M	603.5M	627.1M
Inventory	394M	380.3M	390.6M	380M	389.8M	381.9M	396M	392.6M	391.6M	377.8M	382.4M	391.6M
Total current assets	1.4B	1.5B	1.5B	1.5B	1.4B	1.4B	1.3B	1.4B	1.5B	1.4B	1.5B	1.5B
Property, plant & equipment	804.9M	385.6M	828.6M	827.7M	838.8M	383.1M	833.6M	869.5M	867.6M	408.2M	861.8M	856M
Goodwill & intangibles	897.8M	900.9M	1B	1B	1B	1B	1B	1B	1.1B	1B	1B	1B
Total assets	3.1B	3.3B	3.4B	3.4B	3.4B	3.3B	3.2B	3.3B	3.4B	3.4B	3.4B	3.4B
Accounts payable	112.6M	110.6M	117.5M	117.5M	110.6M	114.2M	120.1M	116.6M	122.3M	110.4M	130M	129.1M
Short-term debt	419.9M	344.8M	344.3M	440.2M	370.1M	439.3M	512.6M	679.8M	631.6M	500.1M	706.9M	695.7M
Total current liabilities	970.2M	951.5M	956.9M	1.1B	1B	1.1B	1.1B	1.2B	1.3B	1.1B	1.3B	1.3B
Long-term debt	720.3M	722.6M	724.7M	627.7M	628.2M	547.6M	546.8M	557.4M	481.3M	476M	398.6M	400.4M
Total liabilities	1.8B	1.8B	1.8B	1.8B	1.7B	1.7B	1.8B	1.9B	1.8B	1.7B	1.8B	1.8B
Shareholders' equity	1.3B	1.5B	1.6B	1.6B	1.6B	1.6B	1.4B	1.5B	1.6B	1.6B	1.6B	1.6B
Total debt	1.1B	1.1B	1.1B	1.1B	998.3M	986.9M	1.1B	1.2B	1.1B	976.1M	1.1B	1.1B
Net debt	808.5M	613.4M	671.5M	666.3M	689.6M	698.7M	895.4M	1.1B	904.8M	796M	904.9M	899.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	222.1M	263.3M	377M	427.8M	582.1M	744.8M	679.1M	845M	887.9M	1.1B
Depreciation & amortization	78.2M	83.1M	83.2M	88M	96M	104.6M	111.9M	114.9M	129.9M	145.2M
Stock-based compensation	19.9M	23.5M	25.2M	39.3M	31M	37.8M	49.8M	59.7M	60.3M	60M
Change in working capital	7.4M	8.4M	-91.6M	-105M	-31.8M	-137.5M	-273.5M	-72.4M	-133.2M	-227.5M
Operating cash flow	349.4M	371.4M	395.8M	457.5M	640.6M	748.9M	534.8M	899.5M	921.9M	1.2B
Capital expenditure	-64.8M	-74.4M	-115.8M	-155M	-107M	-119.5M	-148.8M	-133.6M	-120.9M	—
Investing cash flow	-90.8M	-136.4M	145.8M	-205.3M	-108.5M	-293M	-185.3M	-125.3M	-197.1M	2M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-304.1M	-282.6M	-369.3M	-301.7M	-182.8M	-746.8M	-819.7M	-71.9M	-837M	-1.2B
Financing cash flow	-260.5M	-246.6M	-892M	-322.5M	-299.7M	-744M	-406.7M	-489M	-922.6M	-1.3B
Net change in cash	-1.9M	-11.6M	-350.4M	-70.3M	232.4M	-288M	-57.2M	285.2M	-197.7M	-74.5M
Free cash flow	274.2M	296.6M	277.1M	303.9M	540.2M	636M	384.1M	772.9M	798.1M	1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	212.2M	194.5M	235.6M	203.3M	232.8M	216.1M	242.7M	294M	274.6M	248.2M	278.4M	338.4M
Depreciation & amortization	29M	29.7M	29.9M	32.2M	34.1M	33.7M	34.1M	35.8M	36.6M	38.7M	37.7M	41.1M
Stock-based compensation	15.2M	15.2M	14.4M	15.7M	15.9M	14.3M	14.6M	14.9M	14.4M	16.1M	16.3M	16.1M
Change in working capital	16.1M	41.8M	-81.4M	14.3M	-57.4M	-8.7M	-60.7M	-163.9M	-19.9M	17M	-89.7M	-56.9M
Operating cash flow	270.8M	248.3M	196.8M	246.1M	218.7M	260.2M	235.1M	185.7M	402.3M	355.8M	266.2M	347.2M
Capital expenditure	-34.1M	-32.6M	-30.3M	-33.3M	-28.1M	-29.3M	-30M	—	—	—	—	—
Investing cash flow	-27.8M	-30.4M	-106.9M	-32.9M	-27.4M	-29.8M	-29.6M	474K	-407K	1.5M	240K	1M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-35.1M	-36.9M	-154.8M	-215.5M	-220.8M	-246M	-400.9M	-338.1M	-240.2M	-237.8M	-351M	-346.8M
Financing cash flow	-69.7M	-113.2M	-165M	-215.6M	-296M	-246M	-337.5M	-79.6M	-364.3M	-623.6M	-229.6M	-358.1M
Net change in cash	173.3M	104.7M	-75.1M	-2.4M	-104.6M	-15.6M	-132.1M	106.6M	37.7M	-266.3M	36.9M	-9.9M
Free cash flow	238.3M	217.3M	168.3M	215M	192M	222.8M	207.9M	151.6M	357.9M	326.1M	232.5M	320.6M

IDEXX Laboratories, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement