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IDEXX Laboratories, Inc.

IDEXX Laboratories, Inc.

NASDAQ•IDXX
CEO: Mr. Jonathan J. Mazelsky
Sector: Healthcare
Industry: Medical - Diagnostics & Research
Listing Date: 1991-06-21
IDEXX Laboratories, Inc. develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy. It also provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory diagnostic instruments, and services for biomedical research community. In addition, the company offers diagnostic and health-monitoring products for livestock, poultry, and dairy; products that test water for various microbiological contaminants; point-of-care electrolytes and blood gas analyzers; in-clinic chemistry, blood and urine chemistry, hematology, immunoassay, urinalysis, and coagulation analyzers; and SNAP rapid assays test kits. Further, it provides Colilert, Colilert-18, and Colisure tests, which detect the presence of total coliforms and E. coli in water; Enterolert, Pseudalert, Filta-Max and Filta-Max xpress, Legiolert, and Quanti-Tray products; and veterinary software and services for independent veterinary clinics and corporate groups. Additionally, the company offers human medical point-of-care products and laboratory diagnostics services. The company markets its products through marketing, customer service, sales, and technical service groups, as well as through independent distributors and other resellers. IDEXX Laboratories, Inc. was incorporated in 1983 and is headquartered in Westbrook, Maine.
Contact Information
One IDEXX Drive, Westbrook, ME, 04092, United States
207-556-0300
www.idexx.com
Market Cap
$57.12B
P/E (TTM)
55.8
26.9
Dividend Yield
--
52W High
$769.98
52W Low
$356.14
52W Range
87%
Rank17Top 4.2%
6.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$1.11B+13.30%
4-Quarter Trend

EPS

$3.43+21.20%
4-Quarter Trend

FCF

$371.23M+93.36%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Total Revenue Growth Strong Total revenue reached $3.213 B USD for nine months, reporting 9.2% growth; organic revenue grew 8.7% compared to prior year.
Operating Income Surges Income from operations increased $177.775 M USD to $1.044 B USD, reflecting 20.5% growth for the nine months ended September 30.
Gross Margin Expansion Noted Total gross profit margin improved 90 basis points to 62.3% driven by recurring revenue volume and pricing benefits offsetting costs.
Operating Cash Flow Rises Cash provided by operating activities was $826.045 M USD, a $159.069 M USD increase year-to-date period compared to 2024.

Risk Factors

Foreign Currency Headwinds Persist Strengthening U.S. dollar negatively impacts international revenue growth rates; projected to reduce revenue by $4 M USD remainder of 2025.
Litigation Settlement Paid Company paid $80 M USD judgment in April 2025 to conclude 2018 breach of contract royalty lawsuit; payment impacted cash flow.
Inflationary Cost Pressures Expect continued higher costs for labor, commodities, and transportation; may not fully offset these increases via productivity or pricing.
Tariff and Trade Uncertainty Changes in global tariff and trade policies create volatility and uncertainty, potentially reducing demand for products and services globally.

Outlook

Strong Liquidity Position Net debt to Adjusted EBITDA ratio stands at 0.51, well below 3.5-to-1 covenant; $793.2 M USD availability remains under Credit Facility.
Tax Law Accelerates Deductions Acceleration of R&D deductions due to OBBBA expected to reduce projected 2025 income taxes due by approximately $105 M USD.
Debt Maturity Management Anticipate paying off $75.0 M USD 2025 Series B Notes in December 2025 using cash or Credit Facility borrowings as planned.
Capital Spending Planned Total capital expenditure plan for 2025 estimated at $140.0 M USD, focusing on manufacturing facilities and customer-facing software development.

Peer Comparison

Revenue (TTM)

Cencora, Inc.COR
$321.33B
+9.3%
Takeda Pharmaceutical Company LimitedTAK
$29.67B
-2.8%
Becton, Dickinson and CompanyBDX
$21.84B
+8.2%

Gross Margin (Latest Quarter)

argenx SEARGX
88.3%
-53.8pp
Edwards Lifesciences CorporationEW
77.9%
-2.7pp
Veeva Systems Inc.VEEV
75.4%
+0.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
COR$68.84B44.3131.5%10.0%
BDX$59.11B35.46.6%34.7%
IDXX$57.12B55.867.8%32.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
5.0%
Steady Growth
4Q Net Income CAGR
8.3%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 2, 2026
|
EPS:$2.93
|
Revenue:$1.07B
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 3, 2025|
    Revenue: $1.11B+13.3%
    |
    EPS: $3.43+21.2%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 4, 2025|
    Revenue: $1.11B+10.5%
    |
    EPS: $3.66+48.8%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $998.43M+3.6%
    |
    EPS: $2.98+4.9%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 21, 2025|
    Revenue: $3.90B+6.5%
    |
    EPS: $10.77+5.9%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $975.54M+6.6%
    |
    EPS: $2.83+11.0%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $1.00B+6.4%
    |
    EPS: $2.46-8.9%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 1, 2024|
    Revenue: $964.10M+7.1%
    |
    EPS: $2.84+10.1%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 22, 2024|
    Revenue: $3.66B+8.7%
    |
    EPS: $10.17+25.2%
    Beat