Mesa Laboratories, Inc. (MLAB) 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	$2.55	$1.3	-49.0%	—	$60.1M	—
Q4 26	$1.39	$1.83	+31.7%	—	$63.7M	—
Q3 26	$1.47	$1.76	+19.7%	—	$65.1M	—
Q2 26	$1.56	$2.11	+35.3%	—	$60.7M	—
Q1 26	$2.16	$1.88	-13.0%	—	$59.5M	—
Q4 25	$2.07	$0.43	-79.2%	—	$62.1M	—
Q3 25	$1.51	$0.79	-47.7%	—	$62.8M	—
Q2 25	$1.38	$2.16	+56.5%	—	$57.8M	—
Q1 25	$1.55	$1.96	+26.5%	—	$58.2M	—
Q4 24	$1.75	$1.21	-30.9%	—	$58.9M	—
Q3 24	$1.7	$2.62	+54.1%	—	$53.5M	—
Q2 24	$1.79	$1.91	+6.7%	—	$53.2M	—
Q1 24	$1.36	$1.01	-25.7%	—	$50.6M	—
Q4 23	$1.69	$2.01	+18.9%	—	$55.6M	—
Q3 23	$1.58	$1.85	+17.1%	—	$54.3M	—
Q2 23	$1.16	$2.88	+148.3%	—	$58.7M	—

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 %
FY26	—	$1.22	—	—	$249.1M	—
FY25	—	-$0.36	—	—	$241M	—
FY24	—	-$47.2	—	—	$216.2M	—
FY23	—	$0.17	—	—	$219.1M

Total revenue

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

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$93.7M	$96.2M	$103.1M	$117.7M	$133.9M	$184.3M	$219.1M	$216.2M	$241M	$249.1M
YoY change	+10.6%	+2.68%	+7.23%	+14.1%	+13.8%	+37.6%	+18.8%	-1.32%	+11.5%	+3.38%

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	93.7M	96.2M	103.1M	117.7M	133.9M	184.3M	219.1M	216.2M	241M	249.1M
Cost of revenue	40.4M	41.6M	42.2M	52.3M	46.9M	75.2M	85.4M	82.9M	90.1M	90.9M
Gross profit	53.2M	54.6M	60.9M	65.4M	87M	109.1M	133.7M	133.3M	150.9M	158.3M
Gross margin	56.8%	56.8%	59.1%	55.5%	65%	59.2%	61%	61.6%	62.6%	63.5%
Research & development	4.2M	3.5M	3.5M	6.4M	10.4M	15.8M	20.5M	19.3M	19.5M	20.3M
Selling, general & administrative	32.8M	35.1M	39.6M	51.1M	64.3M	88.6M	109.9M	111.5M	115M	119.5M
Operating expenses	36.9M	38.6M	43.1M	57.4M	74.7M	104.4M	130.4M	130.8M	134.5M	139.8M
Operating income	16.3M	16M	17.9M	7.9M	12.4M	4.7M	3.3M	2.5M	16.3M	18.5M
Operating margin	17.4%	16.6%	17.3%	6.73%	9.23%	2.55%	1.52%	1.14%	6.78%	7.43%
Non-operating income, net	-2M	-13.9M	-7.5M	1.4M	-2M	2.8M	1.1M	-272.4M	1.5M	4.2M
Pretax income	14.3M	301K	8.6M	3.9M	2.3M	3.6M	-389K	-275.6M	6M	12M
Income tax	3.1M	3.3M	1.1M	2.1M	-971K	1.7M	-1.3M	-21.4M	7.9M	5.3M
Net income	11.2M	-3M	7.5M	1.8M	3.3M	1.9M	930K	-254.2M	-2M	6.7M
Net margin	11.9%	-3.08%	7.26%	1.51%	2.44%	1.01%	0.42%	-117.6%	-0.82%	2.69%
EBITDA	25.1M	25.4M	27.9M	22.4M	28M	32.5M	37.5M	36.2M	39.5M	46M
EPS	3.04	-0.79	1.95	0.32	0.66	0.36	0.17	-47.2	-0.36	1.22
Diluted EPS	2.91	-0.79	1.86	0.31	0.64	0.35	0.17	-47.2	-0.36	1.21

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	53.2M	53.5M	58.9M	58.2M	57.8M	62.8M	62.1M	59.5M	60.7M	65.1M	63.7M	60.1M
Cost of revenue	21.1M	20.1M	22.3M	20.9M	22.4M	23.1M	23.7M	22.6M	23.4M	23.3M	21.5M	21.1M
Gross profit	32.1M	33.4M	36.6M	37.2M	35.5M	39.8M	38.4M	36.9M	37.3M	41.8M	42.2M	39M
Gross margin	60.4%	62.5%	62.1%	64%	61.3%	63.3%	61.8%	62%	61.5%	64.2%	66.2%	64.9%
Research & development	5M	4.3M	5.2M	4.7M	4.6M	5.1M	5.1M	5M	5M	5M	5.2M	4.7M
Selling, general & administrative	27.2M	29.2M	28.1M	26.9M	27.3M	28.9M	31.8M	28.9M	27.6M	28.8M	34.2M	27.3M
Operating expenses	32.2M	33.5M	33.3M	31.7M	31.9M	34M	36.9M	33.9M	32.6M	33.8M	39.5M	32M
Operating income	-60K	-67K	3.2M	5.6M	3.5M	5.8M	1.5M	3.1M	4.7M	8M	2.7M	7M
Operating margin	-0.11%	-0.13%	5.52%	9.59%	6.07%	9.2%	2.36%	5.15%	7.78%	12.2%	4.31%	11.7%
Non-operating income, net	-360K	3.9M	-276.7M	1.2M	3.3M	-5.2M	1.5M	6.1M	137K	-343K	-1.7M	-315K
Pretax income	-1.3M	1.9M	-275.3M	3.9M	3.8M	-2.2M	461K	7M	2M	4.6M	-1.6M	4.4M
Income tax	-95K	-170K	-20.7M	517K	384K	-541K	7.6M	2.3M	-477K	966K	2.5M	1.5M
Net income	-1.2M	2.1M	-254.6M	3.4M	3.4M	-1.7M	-7.1M	4.7M	2.5M	3.6M	-4.1M	2.8M
Net margin	-2.31%	3.96%	-432.2%	5.82%	5.93%	-2.67%	-11.4%	7.96%	4.08%	5.57%	-6.49%	4.71%
EBITDA	7.7M	12.9M	-267.1M	9M	12.9M	6.1M	10.5M	15.2M	10.7M	13.3M	6.8M	12.4M
EPS	-0.23	0.39	-47.2	0.63	0.63	-0.31	-1.31	0.87	0.45	0.66	-0.75	0.5
Diluted EPS	-0.23	0.39	-47.2	0.62	0.63	-0.31	-1.31	0.85	0.45	0.65	-0.75	0.49

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	451.4M	559.6M	884.9M	949.6M	—	1.3B	929.7M	591M	643.3M	487.5M	744.2M
Enterprise value	500.4M	600.4M	897.4M	1B	—	1.5B	1.1B	787.5M	797.4M	615.8M	879.2M
Shares outstanding	3.7M	3.8M	3.8M	4.2M	5M	5.2M	5.3M	5.4M	5.4M	5.5M	5.5M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	40.4	—	118.2	534.1	—	710	999.7	—	—	72.6	157.6
P/S	4.82	5.82	8.58	8.07	—	7.21	4.24	2.73	2.67	1.96	2.97
P/B	4.61	5.63	7.95	4.32	—	3.37	2.36	4.06	4.02	2.62	3.92
EV/EBITDA	20	23.6	32.2	45.2	—	46.1	28.9	21.8	20.2	13.4	19.4
EV/Sales	5.34	6.24	8.7	8.58	—	8.14	4.94	3.64	3.31	2.47	3.52
Earnings yield	2.48%	—	0.85%	0.19%	—	0.14%	0.1%	—	—	1.38%	0.63%
FCF yield	1.26%	4.1%	3.31%	2.68%	—	2.62%	2.52%	7.03%	6.58%	8.12%	7.17%
PEG	—	—	—	—	—	—	—	—	—	—	-3.71

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	56.8%	56.8%	59.1%	55.5%	65%	59.2%	61%	61.6%	62.6%	63.5%	64.9%
Operating margin	17.4%	16.6%	17.3%	6.73%	9.23%	2.55%	1.52%	1.14%	6.78%	7.43%	11.7%
Net margin	11.9%	-3.08%	7.26%	1.51%	2.44%	1.01%	0.42%	-117.6%	-0.82%	2.69%	1.92%
ROE	11.4%	-2.98%	6.72%	0.81%	0.81%	0.48%	0.24%	-174.9%	-1.24%	3.6%	2.66%
ROA	6.51%	-1.8%	4.77%	0.43%	0.54%	0.26%	0.14%	-56.9%	-0.46%	1.57%	3.29%
ROIC	8.69%	0%	12.5%	1.3%	4.28%	0.44%	0.61%	0.72%	0%	3.29%	3.8%
Return on tangible assets	-23.2%	5.62%	-17.6%	-1.56%	5.81%	-0.5%	-0.27%	180.4%	1.59%	-5.96%	-4.38%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	2.16	1.85	1.42	4.72	9.32	2.59	2.74	2.47	0.63	1.72	1.79
Quick ratio	1.32	1.32	1.13	4.17	8.98	2.07	1.94	1.73	0.47	1.29	1.32
Debt / equity	0.56	0.47	0.2	0.64	0.36	0.56	0.47	1.55	1.14	0.83	0.85
Debt / assets	0.32	0.28	0.15	0.35	0.24	0.31	0.28	0.5	0.42	0.36	0.35
Net debt / EBITDA	1.96	1.6	0.45	2.68	-4.19	5.28	4.08	5.43	3.91	2.79	2.66
Interest coverage	—	1.16	5.93	1.7	1.29	1.92	0.92	-47.4	1.5	2.12	1.86
Effective tax rate	21.8%	100%	13.2%	54%	0%	47.6%	0%	0%	100%	44.1%	48.7%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	25.5	25.5	26.9	28	26.9	35.4	41.2	40.1	44.5	45.2	44.9
EPS (basic)	3.04	-0.79	1.95	0.32	0.66	0.36	0.17	-47.2	-0.36	1.22	1.22
EPS (diluted)	2.91	-0.79	1.86	0.31	0.64	0.35	0.17	-47.2	-0.36	1.21	0.84
Book value per share	26.6	26.4	29	52.4	81.7	75.6	73.9	27	29.5	33.8	33.7
FCF per share	1.55	6.08	7.63	6.07	7.05	6.68	4.4	7.72	7.8	7.18	9.18
Cash per share	1.58	1.45	2.65	19.4	53	9.47	6.18	5.24	5.04	4.88	5.76
Capex per share	3.15	0.74	0.33	0.36	0.4	0.85	0.85	0.48	0.78	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	12.4%	2.91%	1.22%	1.27%	1.49%	2.4%	2.07%	1.19%	1.76%	—	—
Capex / operating cash flow	102.2%	37.4%	5.44%	5.07%	5.77%	10.4%	14.3%	-1.12%	10.7%	—	—
Payout ratio	21.1%	-81.5%	32.9%	153.1%	96.7%	178.5%	366.2%	-1.36%	-175.7%	52.5%	75.3%
Dividend yield	0.52%	0.43%	0.28%	0.29%	—	0.25%	0.37%	0.58%	0.54%	0.72%	0.48%

Yield

0.48%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.16

ex-dividend Aug 31, 2026

Payout ratio

75%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.16
May 29, 2026	$0.16
Feb 27, 2026	$0.16
Nov 28, 2025	$0.16
Aug 29, 2025

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$53.2M	$53.5M	$58.9M	$58.2M	$57.8M	$62.8M	$62.1M	$59.5M	$60.7M	$65.1M	$63.7M	$60.1M
YoY change	-9.5%	-1.5%	+5.96%	+14.9%	+8.78%	+17.5%	+5.49%	+2.36%	+5.02%	+3.64%	+2.56%	+1%

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	5.8M	5.5M	10.2M	81.4M	263.9M	49.3M	32.9M	28.2M	27.3M	26.9M
Receivables	14.3M	14.3M	12.5M	21.1M	23.8M	41.2M	42.6M	39.1M	42M	44.1M
Inventory	13.9M	9.2M	6.8M	14.2M	11.2M	24.6M	34.6M	32.7M	25.4M	26.4M
Total current assets	35.8M	32M	33.6M	122.8M	303.7M	124.3M	119M	109.4M	102.7M	106.3M
Property, plant & equipment	21.3M	5M	3.6M	3.2M	3.1M	7.1M	6.1M	8.3M	9.1M	7.2M
Goodwill & intangibles	219.9M	216.8M	199.2M	522.8M	545.2M	1.1B	1B	587.7M	557.3M	540.4M
Total assets	171.7M	164.1M	156.8M	409.1M	601.5M	707.4M	661.8M	446.8M	433.3M	427.7M
Accounts payable	2.2M	2.4M	2.9M	3.4M	4.5M	7.9M	6.1M	6M	5.7M	4.9M
Short-term debt	1.1M	1.6M	2.1M	1.1M	1M	2.8M	2.9M	3M	104.6M	9.3M
Total current liabilities	16.6M	17.3M	23.7M	26M	32.6M	48.1M	43.4M	44.3M	164M	61.9M
Long-term debt	53.7M	44.6M	20.6M	140.3M	145.7M	218.4M	183.3M	221.7M	76.9M	145.9M
Total liabilities	73.9M	64.7M	45.5M	189.1M	195.2M	313.6M	268.4M	301.4M	273.5M	241.5M
Shareholders' equity	97.8M	99.4M	111.3M	220M	406.2M	393.8M	393.5M	145.4M	159.8M	186.2M
Total debt	54.8M	46.3M	22.7M	141.4M	146.7M	221.1M	186.1M	224.7M	181.5M	155.2M
Net debt	49M	40.8M	12.6M	60M	-117.2M	171.8M	153.2M	196.5M	154.2M	128.2M

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	35.6M	28.2M	28.2M	28.5M	24.3M	31M	27.3M	21.3M	20.4M	29M	26.9M	30.7M
Receivables	36.3M	36M	39.1M	35.6M	40.2M	38.6M	42M	39.1M	40.1M	40.2M	44.1M	34.4M
Inventory	32.9M	36M	32.7M	31.8M	29.7M	28.1M	25.4M	28.1M	27.7M	26.6M	26.4M	27.2M
Total current assets	117.7M	118.4M	109.4M	106.7M	108M	110.8M	102.7M	98.3M	97.4M	105.6M	106.3M	102.8M
Property, plant & equipment	-21.3M	-22.6M	8.3M	-22.6M	-25.7M	-26M	9.1M	-27.8M	-28.8M	-29.9M	7.2M	-31.1M
Goodwill & intangibles	961.9M	1.2B	587.7M	578.4M	585.2M	550.7M	557.3M	570.9M	563.5M	557.9M	540.4M	528.9M
Total assets	637.2M	741.8M	446.8M	440.4M	454.1M	437.1M	433.3M	435.7M	430.4M	434.8M	427.7M	419.2M
Accounts payable	4.8M	4.6M	6M	5.7M	6M	4.1M	5.7M	6.3M	5.1M	5.3M	4.9M	7.5M
Short-term debt	2.8M	3.1M	3M	6.7M	104.3M	104.4M	104.6M	105.4M	8.5M	9M	9.3M	8.3M
Total current liabilities	39.8M	44.2M	44.3M	54.9M	153.2M	155.9M	164M	149.5M	48.3M	54.4M	61.9M	57.3M
Long-term debt	170.7M	233M	221.7M	214.8M	118.6M	107.2M	76.9M	92.2M	181.9M	171.9M	145.9M	137.2M
Total liabilities	249.4M	338.8M	301.4M	289.6M	292.6M	281.9M	273.5M	263.2M	251.9M	248.2M	241.5M	230.5M
Shareholders' equity	387.8M	403M	145.4M	150.7M	161.5M	155.2M	159.8M	172.5M	178.5M	186.7M	186.2M	188.8M
Total debt	173.5M	236.1M	224.7M	221.5M	222.9M	211.6M	181.5M	197.6M	190.4M	181M	155.2M	145.5M
Net debt	137.9M	207.9M	196.5M	193M	198.5M	180.7M	154.2M	176.3M	170M	152M	128.2M	114.8M

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	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	11.2M	-3M	7.5M	1.8M	3.3M	1.9M	930K	-254.2M	-2M	6.7M
Depreciation & amortization	8.7M	9.5M	9.4M	13M	17.7M	25.1M	33.1M	31.6M	24.5M	23.3M
Stock-based compensation	1.4M	1.7M	4.2M	5.5M	9.3M	11.4M	12.5M	11.9M	13.1M	17.9M
Change in working capital	-9.3M	2.1M	5.3M	-558K	2.7M	-3.8M	-13.2M	7M	-3.1M	-9.1M
Operating cash flow	11.4M	7.5M	23.2M	29.6M	34.5M	42.6M	31.9M	-229.4M	39.7M	42.8M
Capital expenditure	-11.6M	-2.8M	-1.3M	-1.5M	-2M	-4.4M	-4.5M	-2.6M	-4.2M	—
Investing cash flow	-18.4M	-17.2M	-3.9M	-185.6M	-2M	-305.2M	-9.5M	-81.3M	-4.2M	0
Dividends paid	-2.4M	-2.4M	-2.5M	-2.7M	-3.2M	-3.3M	-3.4M	-3.4M	-3.5M	-3.5M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-2.4M	-11.9M	-26.8M	226.3M	141.3M	44.5M	-40.3M	32.5M	-47.2M	-41.9M
Net change in cash	-9.4M	-21.7M	-7.4M	70.3M	173.8M	-218.1M	-18M	-278.2M	-11.7M	977K
Free cash flow	5.7M	22.9M	29.3M	25.5M	35.1M	34.8M	23.4M	41.6M	42.3M	39.6M

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	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	-1.2M	2.1M	-254.6M	3.4M	3.4M	-1.7M	-7.1M	4.7M	2.5M	3.6M	-4.1M	2.8M
Depreciation & amortization	8.1M	9M	6.3M	5.5M	6.1M	5.5M	7.5M	6M	5.8M	5.7M	5.8M	5.6M
Stock-based compensation	3.2M	3M	2.8M	2.9M	3.8M	3.2M	3.1M	3.9M	3.8M	3.4M	6.8M	2.4M
Change in working capital	-1.8M	2.6M	1.6M	1.5M	-3.6M	-1.1M	118K	413K	-4.5M	145K	-5.2M	10.5M
Operating cash flow	9.4M	14.2M	-240.2M	15.5M	8.5M	8.1M	5.7M	1.9M	8.2M	18.8M	14M	14.7M
Capital expenditure	-634K	-1.1M	-535K	-891K	-1.8M	-813K	-757K	—	—	—	—	—
Investing cash flow	-634K	-1.1M	426K	-891K	-1.8M	-813K	-757K	—	—	—	—	—
Dividends paid	-862K	-862K	-864K	-863K	-866K	-869K	-870K	-873K	-882K	-884K	-884K	-884K
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-5.6M	60.5M	-12.9M	-9.1M	-8.3M	-10.3M	-18.8M	-8.4M	-7.9M	-9.8M	-15.8M	-10.5M
Net change in cash	3.2M	73.6M	-252.7M	5.5M	-1.6M	-3M	-13.9M	-6.5M	339K	9M	-1.8M	4.2M
Free cash flow	9.1M	10.4M	12.3M	9.5M	3.2M	17.3M	11.7M	884K	7.1M	18M	13.5M	14.2M

Mesa 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

Dividend per share

Recent payouts

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