Idexx Laboratories (IDXX) AI Stock Analysis

• Market Cap: $52.18B
• Dividend Yield: N/A
• Average Volume (3M): 674.47K
• Price to Earnings (P/E): 55.3
• Beta (1Y): 1.13
• Revenue Growth: 6.68%
• EPS Growth: 18.84%
• Country: US
• Employees: 11,000
• Sector: Healthcare
• Sector Strength: 43
• Industry: Medical - Diagnostics & Research
• EPS (TTM): 3.63
• Shares Outstanding: 80,004,690
• 10 Day Avg. Volume: 1,088,068
• 30 Day Avg. Volume: 674,468
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 11.02
• Enterprise Value/Gross Profit: 17.91
• Enterprise Value/Ebitda: 31.75
• 1Y Price Target: $730.00
• Price Target Upside: 11.63% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 10

• Rating: 77 Outperform
• Price Target: $775.00 ▲(18.51% Upside)

Idexx Laboratories demonstrates strong financial performance and positive earnings call sentiment, driving a high overall score. Technical indicators support a bullish outlook, although the high P/E ratio suggests the stock is expensive. The company's strategic focus on international markets and innovation positions it well for future growth.

Positive Factors

Company Guidance

IDEXX is raising its 2025 EPS guidance by 40c at the midpoint to reflect operational performance, stock-based compensation benefit, and FX benefit.

Market Performance

IDXX shares surge +27% on strong 2Q/FY25 update.

Product Innovation

Innovation, including Cancer Dx and the pancreatic lipase test, is a significant driver of growth for IDXX.

Negative Factors

Revenue Growth Concerns

The stock now trades above its 15-year NTM EPS average, raising concerns about future revenue growth.

Valuation Concerns

The stock is trading at almost 50x 2026E P/E – which is the very upper bound of historical multiples.

Idexx Laboratories Business Overview & Revenue Model

Company Description

IDEXX Laboratories, Inc. develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It 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 animal diagnostic instruments and services for biomedical research community. The company also offers diagnostic and health-monitoring products for livestock, poultry, and dairy; products that test water for various microbiological contaminants; and point-of-care electrolytes and blood gas analyzers and SARS-CoV-2 RT-PCR that are used in the human point-of-care medical diagnostics market; in-clinic chemistry, blood and urine chemistry, hematology, and SediVue Dx analyzers; SNAP rapid assays test kits. In addition, 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; veterinary software and services for independent veterinary clinics and corporate groups. 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.

How the Company Makes Money

IDEXX Laboratories generates revenue through multiple key streams, primarily focusing on its diagnostic products and services for the veterinary market. The Companion Animal Group represents the largest segment, contributing significantly to revenue through the sale of point-of-care diagnostic tests, laboratory services, and related software. The company also earns revenue from its Livestock, Poultry, and Dairy segment, which provides diagnostic solutions for animal health and food safety. Additionally, IDEXX's Water and Food Testing segment contributes to its earnings through advanced testing solutions that ensure public health and safety. IDEXX's revenue model is supported by recurring sales from consumables associated with its diagnostic instruments, which fosters customer loyalty and ongoing revenue. The company benefits from strategic partnerships with veterinary clinics and animal health organizations, enhancing its market presence and driving sales growth.

Idexx Laboratories Financial Statement Overview

Summary

Idexx Laboratories exhibits strong financial health with robust profitability and efficient cash management. The income statement shows consistent revenue growth and operational efficiency. However, the balance sheet's relatively low equity ratio could pose a risk, despite manageable leverage.

Income Statement

Idexx Laboratories demonstrates strong profitability with a consistent increase in gross profit margin, reaching 61.54% in TTM. The net profit margin has also improved to 24.41%, indicating efficient cost management. Revenue growth is steady, with a 2.69% increase in TTM, showcasing resilience in a competitive industry. EBIT and EBITDA margins are robust, reflecting operational efficiency.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio of 0.85 in TTM, indicating manageable leverage. Return on equity is impressive at 64.42%, highlighting strong profitability relative to shareholder equity. However, the equity ratio is relatively low, suggesting potential vulnerability to financial instability.

Cash Flow

Operating cash flow remains strong, though there is a slight decline in free cash flow growth at -7.56% in TTM. The operating cash flow to net income ratio is healthy at 0.74, indicating good cash generation relative to earnings. The free cash flow to net income ratio is also solid at 0.85, reflecting efficient cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.04B	3.90B	3.66B	3.37B	3.22B	2.71B
Gross Profit	2.48B	2.38B	2.19B	2.00B	1.89B	1.57B
EBITDA	1.40B	1.28B	1.22B	1.01B	1.04B	793.81M
Net Income	985.66M	887.87M	845.04M	679.09M	744.85M	581.78M
Balance Sheet
Total Assets	3.33B	3.29B	3.26B	2.75B	2.44B	2.29B
Cash, Cash Equivalents and Short-Term Investments	164.59M	288.27M	453.93M	112.55M	144.45M	383.93M
Total Debt	1.24B	986.95M	1.07B	1.47B	1.03B	1.00B
Total Liabilities	1.87B	1.70B	1.78B	2.14B	1.75B	1.66B
Stockholders Equity	1.46B	1.60B	1.48B	608.74M	689.99M	632.09M
Cash Flow
Free Cash Flow	774.34M	798.08M	772.88M	394.15M	636.00M	540.44M
Operating Cash Flow	905.81M	929.00M	906.51M	542.98M	755.55M	648.06M
Investing Cash Flow	-130.45M	-207.06M	-125.25M	-195.35M	-292.97M	-109.38M
Financing Cash Flow	-1.02B	-878.07M	-442.00M	-370.94M	-697.41M	-248.42M

Idexx Laboratories Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 653.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IDXX, the sentiment is Positive. The current price of 653.95 is above the 20-day moving average (MA) of 594.21, above the 50-day MA of 555.56, and above the 200-day MA of 468.06, indicating a bullish trend. The MACD of 33.62 indicates Negative momentum. The RSI at 64.65 is Neutral, neither overbought nor oversold. The STOCH value of 69.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IDXX.

Idexx Laboratories Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IDXX	77 Outperform	$52.18B	55.26	64.87%	―	6.68%	18.84%
A	77 Outperform	$33.33B	28.94	18.88%	0.82%	0.56%	-4.08%
DGX	70 Neutral	$19.95B	21.34	13.65%	1.74%	12.58%	13.00%
WAT	66 Neutral	$17.00B	26.76	37.03%	―	5.89%	10.61%
MTD	63 Neutral	$26.63B	33.54	-680.23%	―	3.11%	8.50%
RVTY	63 Neutral	$10.21B	37.34	3.61%	0.31%	3.33%	32.86%
Sector *	51 Neutral	$7.44B	-0.20	-46.33%	2.27%	23.01%	-2.29%

Idexx Laboratories Corporate Events

IDEXX Laboratories Expands Board with New Director

On July 10, 2025, IDEXX Laboratories announced the election of Joseph L. (Jay) Hooley to its Board of Directors as an independent Class III Director, expanding the board from nine to ten members. Hooley, a former Chair and CEO of State Street Corporation, brings extensive strategic and financial leadership experience, which is expected to enhance the board’s effectiveness. His election reflects IDEXX’s commitment to strengthening its governance as it continues to innovate in the pet healthcare industry.

The most recent analyst rating on (IDXX) stock is a Buy with a $575.00 price target. To see the full list of analyst forecasts on Idexx Laboratories stock, see the IDXX Stock Forecast page.