IDEXX Laboratories (IDXX) Financials

$546.49 +0.70 (+0.13%)

Closing price 04:00 PM Eastern

Extended Trading

$546.60 +0.11 (+0.02%)

As of 04:39 PM Eastern

Annual Income Statements for IDEXX Laboratories

This table shows IDEXX Laboratories' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	192	222	263	377	428	582	745	679	845	888	1,059
Consolidated Net Income / (Loss)	192	222	263	377	428	582	745	679	845	888	1,059
Net Income / (Loss) Continuing Operations	192	222	263	377	428	582	745	679	845	888	1,059
Total Pre-Tax Income	273	322	381	458	522	662	903	860	1,061	1,110	1,324
Total Operating Income	300	350	413	491	553	695	932	899	1,097	1,128	1,360
Total Gross Profit	890	975	1,097	1,242	1,366	1,571	1,889	2,004	2,190	2,379	2,660
Total Revenue	1,602	1,775	1,969	2,213	2,407	2,707	3,215	3,367	3,661	3,898	4,304
Operating Revenue	1,602	1,775	1,969	2,213	2,407	2,707	3,215	3,367	3,661	3,898	4,304
Total Cost of Revenue	712	800	872	972	1,041	1,136	1,326	1,363	1,471	1,519	1,644
Operating Cost of Revenue	712	-	872	972	1,041	-	1,326	1,363	1,471	1,519	1,644
Total Operating Expenses	590	625	684	750	813	877	957	1,106	1,093	1,251	1,300
Selling, General & Admin Expense	183	207	221	245	261	301	310	326	336	442	405
Marketing Expense	300	317	354	387	418	434	487	525	566	589	644
Research & Development Expense	100	101	109	118	133	141	161	255	191	220	251
Total Other Income / (Expense), net	-27	-28	-32	-34	-31	-33	-29	-39	-36	-19	-36
Interest Expense	29	32	37	35	31	33	30	40	42	31	39
Interest & Investment Income	2.47	3.66	5.25	1.15	0.43	0.59	0.43	1.07	5.63	13	3.01
Income Tax Expense	81	100	118	81	94	80	158	181	216	222	265
Basic Earnings per Share	$2.07	$2.47	$3.00	$4.34	$4.97	$6.82	$8.74	$8.12	$10.17	$10.77	$13.17
Weighted Average Basic Shares Outstanding	92.60M	89.73M	87.77M	86.86M	86.12M	85.34M	85.20M	83.62M	83.07M	82.47M	80.43M
Diluted Earnings per Share	$2.05	$2.44	$2.94	$4.26	$4.89	$6.71	$8.60	$8.03	$10.06	$10.67	$13.08
Weighted Average Diluted Shares Outstanding	93.65M	90.88M	89.57M	88.47M	87.54M	86.72M	86.57M	84.60M	83.98M	83.25M	81.03M
Weighted Average Basic & Diluted Shares Outstanding	92.80M	89.90M	87.70M	86.90M	85.33M	85.43M	84.25M	82.90M	83.09M	81.33M	79.62M

This table shows IDEXX Laboratories' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	212	195	236	203	233	216	243	294	275	248	278
Consolidated Net Income / (Loss)	212	195	236	203	233	216	243	294	275	248	278
Net Income / (Loss) Continuing Operations	212	195	236	203	233	216	243	294	275	248	278
Total Pre-Tax Income	268	240	295	259	299	256	310	362	345	307	355
Total Operating Income	275	245	299	264	304	262	317	373	355	316	363
Total Gross Profit	548	526	593	619	596	571	623	695	683	658	723
Total Revenue	916	902	964	1,004	976	954	998	1,109	1,105	1,091	1,141
Operating Revenue	916	902	964	1,004	976	954	998	1,109	1,105	1,091	1,141
Total Cost of Revenue	368	375	371	384	380	384	375	415	422	432	418
Operating Cost of Revenue	368	375	371	384	380	384	375	415	422	432	418
Total Operating Expenses	273	281	294	355	292	309	307	322	329	343	360
Selling, General & Admin Expense	89	87	92	157	92	101	92	99	106	109	119
Marketing Expense	136	142	149	143	146	150	156	161	159	167	175
Research & Development Expense	48	52	53	55	54	58	59	62	63	67	66
Total Other Income / (Expense), net	-7.39	-5.63	-3.48	-4.75	-4.98	-5.30	-6.45	-11	-10	-8.62	-7.14
Interest Expense	8.65	9.27	7.91	8.10	7.70	7.50	7.67	11	11	9.21	7.74
Interest & Investment Income	1.26	3.63	4.43	3.35	2.71	2.20	1.22	0.63	0.58	0.59	0.60
Income Tax Expense	56	45	60	56	66	40	67	68	70	59	77
Basic Earnings per Share	$2.55	$2.34	$2.84	$2.46	$2.83	$2.64	$2.98	$3.66	$3.43	$3.10	$3.50
Weighted Average Basic Shares Outstanding	83.10M	83.07M	83.10M	82.63M	82.30M	82.47M	81.32M	80.41M	80.10M	80.43M	79.65M
Diluted Earnings per Share	$2.53	$2.31	$2.81	$2.44	$2.80	$2.62	$2.96	$3.63	$3.40	$3.09	$3.47
Weighted Average Diluted Shares Outstanding	83.99M	83.98M	83.96M	83.39M	83.06M	83.25M	81.92M	80.99M	80.68M	81.03M	80.16M
Weighted Average Basic & Diluted Shares Outstanding	83.05M	83.09M	82.59M	82.31M	81.88M	81.33M	80.42M	80.00M	79.85M	79.62M	78.88M

This table details how cash moves in and out of IDEXX Laboratories' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-194	26	33	-59	-33	294	-239	-32	341	-166	-108
Net Cash From Operating Activities	222	354	373	400	459	648	756	543	907	929	1,182
Net Cash From Continuing Operating Activities	222	354	373	400	459	648	756	543	907	929	1,182
Net Income / (Loss) Continuing Operations	192	222	263	377	428	582	745	679	845	888	1,059
Consolidated Net Income / (Loss)	192	222	263	377	428	582	745	679	845	888	1,059
Depreciation Expense	69	78	83	83	88	96	105	112	115	130	145
Non-Cash Adjustments To Reconcile Net Income	19	23	25	29	41	38	44	58	65	67	68
Changes in Operating Assets and Liabilities, net	-60	29	1.47	-90	-98	-68	-138	-306	-119	-156	-91
Net Cash From Investing Activities	-308	-91	-139	139	-206	-109	-293	-195	-125	-207	-136
Net Cash From Continuing Investing Activities	-308	-91	-139	139	-206	-109	-293	-195	-125	-207	-136
Purchase of Property, Plant & Equipment	-83	-65	-74	-116	-155	-107	-120	-149	-134	-121	-125
Acquisitions	-10	-1.96	-17	-30	-51	-2.17	-173	-22	0.00	-87	-14
Sale and/or Maturity of Investments	57	204	287	284	-	-	0.00	0.00	8.38	1.56	2.74
Other Investing Activities, net	-	-	-	-	-	-0.25	0.00	-25	0.00	-1.00	-0.76
Net Cash From Financing Activities	-101	-237	-208	-598	-286	-248	-697	-371	-442	-878	-1,165
Net Cash From Continuing Financing Activities	-101	-237	-208	-598	-286	-248	-697	-371	-442	-878	-1,165
Repayment of Debt	23	38	44	-256	-110	-295	-53	-75	-75	-75	-284
Repurchase of Common Equity	-402	-304	-283	-369	-302	-183	-747	-820	-72	-837	-1,217
Issuance of Debt	250	-	0.00	0.00	100	200	74	506	-329	0.00	250
Issuance of Common Equity	22	38	39	38	36	51	47	36	47	44	93
Other Financing Activities, net	5.88	-4.37	-8.07	-11	-10	-22	-17	-17	-13	-11	-7.24
Other Net Changes in Cash	-	-	6.20	-	-	-	-4.64	-8.61	2.13	-9.53	11

This table details how cash moves in and out of IDEXX Laboratories' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	199	122	-56	4.16	-93	-20	-124	0.62	44	-28	20
Net Cash From Operating Activities	272	250	199	248	220	262	238	186	402	356	266
Net Cash From Continuing Operating Activities	272	250	199	248	220	262	238	186	402	356	266
Net Income / (Loss) Continuing Operations	212	195	236	203	233	216	243	294	275	248	278
Consolidated Net Income / (Loss)	212	195	236	203	233	216	243	294	275	248	278
Depreciation Expense	29	30	30	32	34	34	34	36	37	39	38
Non-Cash Adjustments To Reconcile Net Income	17	17	16	-4.09	39	16	18	16	16	19	25
Changes in Operating Assets and Liabilities, net	14	8.80	-83	17	-86	-3.88	-56	-160	75	50	-75
Net Cash From Investing Activities	-28	-30	-107	-33	-27	-40	-30	-34	-45	-28	-34
Net Cash From Continuing Investing Activities	-28	-30	-107	-33	-27	-40	-30	-34	-45	-28	-34
Purchase of Property, Plant & Equipment	-34	-33	-30	-33	-28	-29	-30	-34	-31	-29	-32
Acquisitions	-	-	-77	-	0.31	-10	0.00	-	-13	-0.20	-1.80
Sale and/or Maturity of Investments	6.26	2.12	0.33	0.40	0.42	0.42	0.42	0.47	0.35	1.50	1.04
Other Investing Activities, net	-	-	-	-	-	-	0.00	-	-	-	-0.80
Net Cash From Financing Activities	-43	-102	-144	-210	-291	-233	-330	-166	-313	-356	-211
Net Cash From Continuing Financing Activities	-43	-102	-144	-210	-291	-233	-330	-166	-313	-356	-211
Repurchase of Common Equity	-35	-37	-155	-216	-221	-246	-401	-338	-240	-238	-351
Issuance of Debt	-14	-	0.00	-	-	-	-	260	-124	45	132
Issuance of Common Equity	13	11	21	5.36	5.00	13	7.19	17	51	18	18
Other Financing Activities, net	-0.33	-1.32	-10	-0.08	-0.22	-0.05	-6.12	-0.97	-0.09	-0.06	-11
Other Net Changes in Cash	-2.70	4.66	-4.07	-	-	-9.77	-	14	-0.59	-0.02	-0.82

This table presents IDEXX Laboratories' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,475	1,531	1,713	1,537	1,832	2,295	2,437	2,747	3,260	3,293	3,351
Total Current Assets	822	846	972	654	680	1,063	956	1,101	1,495	1,400	1,414
Cash & Equivalents	129	155	188	124	90	384	144	113	454	288	180
Accounts Receivable	188	204	235	249	269	331	368	401	457	474	552
Inventories, net	189	158	164	173	195	210	269	368	380	382	378
Other Current Assets	62	91	101	108	125	138	174	220	204	256	304
Plant, Property, & Equipment, net	333	357	379	437	534	555	588	649	702	713	747
Total Noncurrent Assets	320	328	362	446	619	677	894	996	1,062	1,180	1,190
Goodwill	179	178	200	214	240	243	359	362	366	405	414
Intangible Assets	56	46	44	42	58	53	99	98	85	112	110
Other Noncurrent Operating Assets	85	103	119	190	321	381	436	536	612	664	666
Total Liabilities & Shareholders' Equity	1,475	1,531	1,713	1,537	1,832	2,295	2,437	2,747	3,260	3,293	3,351
Total Liabilities	1,559	1,639	1,767	1,547	1,655	1,662	1,747	2,138	1,775	1,698	1,745
Total Current Liabilities	857	935	1,005	770	725	583	764	1,236	952	1,068	1,149
Short-Term Debt	573	611	655	399	289	50	148	654	325	418	473
Accounts Payable	53	60	67	70	72	75	116	110	111	114	110
Accrued Expenses	206	236	253	261	323	416	459	434	479	502	530
Current Deferred Revenue	26	27	29	41	41	43	40	38	37	34	35
Total Noncurrent Liabilities	702	704	763	776	929	1,079	984	902	824	630	597
Long-Term Debt	597	593	606	601	699	858	775	694	623	450	375
Noncurrent Deferred Revenue	27	33	36	61	49	46	41	31	29	27	32
Noncurrent Deferred & Payable Income Tax Liabilities	49	39	25	29	33	12	8.94	8.15	7.24	11	32
Other Noncurrent Operating Liabilities	29	39	96	85	149	163	158	169	165	142	158
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-84	-108	-54	-9.23	178	633	690	609	1,485	1,595	1,605
Total Preferred & Common Equity	-84	-108	-54	-9.51	177	632	690	609	1,485	1,595	1,605
Total Common Equity	-84	-108	-54	-9.51	177	632	690	609	1,485	1,595	1,605
Common Stock	956	1,028	1,090	1,153	1,229	1,310	1,394	1,479	1,586	1,691	1,844
Retained Earnings	318	540	804	1,168	1,596	2,176	2,920	3,600	4,445	5,332	6,392
Treasury Stock	-1,316	-1,633	-1,912	-2,289	-2,601	-2,800	-3,571	-4,392	-4,475	-5,334	-6,561
Accumulated Other Comprehensive Income / (Loss)	-42	-43	-36	-42	-46	-54	-53	-78	-71	-94	-69

This table presents IDEXX Laboratories' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,871	3,086	3,260	3,354	3,415	3,351	3,293	3,214	3,331	3,387	3,385
Total Current Assets	1,179	1,384	1,495	1,502	1,529	1,434	1,400	1,318	1,362	1,477	1,454
Cash & Equivalents	133	332	454	397	402	309	288	164	165	208	201
Accounts Receivable	462	453	457	507	534	511	474	527	561	567	604
Inventories, net	395	394	380	391	380	390	382	396	393	392	382
Other Current Assets	189	206	204	207	213	224	256	230	245	310	268
Plant, Property, & Equipment, net	683	687	702	709	708	718	713	718	740	739	740
Total Noncurrent Assets	1,009	1,015	1,062	1,143	1,178	1,199	1,180	1,178	1,229	1,170	1,191
Goodwill	364	362	366	409	408	412	405	407	414	414	412
Intangible Assets	91	87	85	115	111	107	112	107	104	115	105
Other Noncurrent Operating Assets	553	566	612	619	659	680	664	664	711	642	674
Total Liabilities & Shareholders' Equity	2,871	3,086	3,260	3,354	3,415	3,351	3,293	3,214	3,331	3,387	3,385
Total Liabilities	1,777	1,789	1,775	1,785	1,835	1,733	1,698	1,766	1,872	1,826	1,829
Total Current Liabilities	884	970	952	957	1,117	1,009	1,068	1,136	1,224	1,252	1,300
Short-Term Debt	339	400	325	325	420	349	418	490	654	605	680
Accounts Payable	108	113	111	117	117	111	114	120	117	122	130
Accrued Expenses	399	420	479	476	541	511	502	491	417	489	454
Current Deferred Revenue	38	37	37	38	38	38	34	35	36	36	36
Total Noncurrent Liabilities	893	819	824	828	718	723	630	629	648	574	530
Long-Term Debt	697	619	623	621	525	525	450	450	450	375	300
Noncurrent Deferred Revenue	29	28	29	28	27	27	27	27	32	31	32
Noncurrent Deferred & Payable Income Tax Liabilities	5.57	11	7.24	8.75	10	5.66	11	8.11	2.09	3.72	45
Other Noncurrent Operating Liabilities	162	162	165	170	156	166	142	145	164	164	153
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,094	1,297	1,485	1,569	1,580	1,618	1,595	1,448	1,459	1,561	1,556
Total Preferred & Common Equity	1,094	1,297	1,485	1,569	1,580	1,618	1,595	1,448	1,459	1,561	1,556
Total Common Equity	1,094	1,297	1,485	1,569	1,580	1,618	1,595	1,448	1,459	1,561	1,556
Common Stock	1,531	1,559	1,586	1,621	1,642	1,663	1,691	1,712	1,744	1,810	1,878
Retained Earnings	4,038	4,250	4,445	4,680	4,883	5,116	5,332	5,575	5,869	6,144	6,670
Treasury Stock	-4,402	-4,437	-4,475	-4,652	-4,860	-5,085	-5,334	-5,749	-6,078	-6,319	-6,927
Accumulated Other Comprehensive Income / (Loss)	-74	-75	-71	-80	-85	-76	-94	-90	-77	-73	-65

This table displays calculated financial ratios and metrics derived from IDEXX Laboratories' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.81%	10.83%	10.91%	12.40%	8.75%	12.45%	18.79%	4.73%	8.72%	6.46%	10.42%
EBITDA Growth	16.03%	15.93%	15.58%	15.79%	11.55%	23.35%	31.13%	-2.50%	19.92%	3.81%	19.63%
EBIT Growth	15.24%	16.78%	17.93%	18.96%	12.52%	25.63%	34.20%	-3.57%	22.07%	2.84%	20.53%
NOPAT Growth	9.84%	14.54%	18.09%	41.83%	11.90%	34.86%	25.93%	-7.72%	23.10%	3.32%	20.55%
Net Income Growth	5.60%	15.57%	18.56%	43.22%	13.46%	36.08%	27.95%	-8.83%	24.44%	5.07%	19.33%
EPS Growth	14.53%	19.02%	20.49%	44.90%	14.79%	37.22%	28.17%	-6.63%	25.28%	6.06%	22.59%
Operating Cash Flow Growth	-5.95%	59.44%	5.55%	7.18%	14.77%	41.14%	16.59%	-28.13%	66.95%	2.48%	27.21%
Free Cash Flow Firm Growth	-2.44%	74.04%	-9.61%	7.34%	-10.19%	115.77%	-13.50%	-26.86%	121.22%	-4.49%	40.07%
Invested Capital Growth	7.13%	-5.31%	4.44%	17.95%	23.97%	7.64%	26.95%	25.55%	7.26%	9.91%	4.53%
Revenue Q/Q Growth	3.07%	2.50%	3.31%	1.99%	-18.99%	37.32%	2.56%	0.82%	2.04%	1.37%	3.27%
EBITDA Q/Q Growth	10.45%	4.96%	3.17%	2.98%	0.36%	9.93%	1.69%	2.89%	1.66%	1.64%	4.07%
EBIT Q/Q Growth	11.99%	5.07%	3.50%	3.70%	0.05%	11.11%	1.54%	3.14%	1.74%	1.47%	4.13%
NOPAT Q/Q Growth	10.31%	3.12%	-4.99%	14.11%	0.92%	16.43%	-1.70%	2.00%	1.90%	2.44%	3.27%
Net Income Q/Q Growth	10.62%	3.73%	-5.08%	14.37%	1.15%	16.96%	-1.61%	1.41%	2.71%	2.50%	3.12%
EPS Q/Q Growth	8.47%	2.52%	-7.26%	14.52%	1.66%	16.70%	-1.49%	2.16%	2.65%	2.99%	3.73%
Operating Cash Flow Q/Q Growth	30.65%	11.38%	1.54%	3.77%	4.50%	10.87%	-1.17%	-6.30%	9.21%	1.33%	8.61%
Free Cash Flow Firm Q/Q Growth	62.68%	18.41%	-3.42%	-0.42%	-16.27%	38.87%	-6.30%	-13.92%	14.95%	3.54%	9.45%
Invested Capital Q/Q Growth	-1.35%	-6.21%	-6.68%	-0.16%	4.91%	-0.98%	0.41%	4.17%	-0.30%	-0.40%	-2.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.58%	54.94%	55.73%	56.10%	56.73%	58.04%	58.76%	59.52%	59.82%	61.04%	61.80%
EBITDA Margin	23.12%	24.18%	25.20%	25.96%	26.63%	29.21%	32.24%	30.01%	33.11%	32.28%	34.97%
Operating Margin	18.72%	19.73%	20.98%	22.20%	22.97%	25.66%	28.99%	26.69%	29.97%	28.95%	31.60%
EBIT Margin	18.72%	19.73%	20.98%	22.20%	22.97%	25.66%	28.99%	26.69%	29.97%	28.95%	31.60%
Profit (Net Income) Margin	11.99%	12.51%	13.37%	17.04%	17.77%	21.51%	23.17%	20.17%	23.08%	22.78%	24.62%
Tax Burden Percent	70.34%	68.99%	69.09%	82.37%	81.92%	87.94%	82.52%	78.97%	79.63%	80.00%	80.01%
Interest Burden Percent	91.07%	91.89%	92.26%	93.16%	94.46%	95.31%	96.85%	95.68%	96.72%	98.36%	97.36%
Effective Tax Rate	29.66%	31.01%	30.91%	17.63%	18.08%	12.06%	17.48%	21.03%	20.37%	20.00%	19.99%
Return on Invested Capital (ROIC)	29.35%	33.39%	39.65%	50.51%	46.63%	54.71%	58.56%	42.83%	45.71%	43.47%	48.93%
ROIC Less NNEP Spread (ROIC-NNEP)	26.67%	31.00%	36.89%	47.19%	43.80%	50.69%	54.84%	39.79%	42.40%	40.71%	44.33%
Return on Net Nonoperating Assets (RNNOA)	1,114.51%	-264.44%	-364.56%	-1,246.06%	460.86%	88.91%	54.06%	61.74%	35.03%	14.19%	17.27%
Return on Equity (ROE)	1,143.87%	-231.06%	-324.91%	-1,195.55%	507.49%	143.63%	112.62%	104.58%	80.74%	57.66%	66.20%
Cash Return on Invested Capital (CROIC)	22.47%	38.84%	35.31%	34.04%	25.22%	47.35%	34.81%	20.18%	38.70%	34.02%	44.50%
Operating Return on Assets (OROA)	20.98%	23.31%	25.46%	30.23%	32.81%	33.66%	39.39%	34.67%	36.53%	34.44%	40.94%
Return on Assets (ROA)	13.44%	14.78%	16.23%	23.20%	25.39%	28.21%	31.48%	26.20%	28.14%	27.10%	31.89%
Return on Common Equity (ROCE)	1,136.95%	-231.38%	-325.72%	-1,205.86%	505.59%	143.44%	112.56%	104.58%	80.74%	57.66%	66.20%
Return on Equity Simple (ROE_SIMPLE)	-228.39%	-204.94%	-486.58%	-3,963.49%	241.05%	92.10%	107.95%	111.56%	56.92%	55.65%	0.00%
Net Operating Profit after Tax (NOPAT)	211	242	285	405	453	611	769	710	874	903	1,088
NOPAT Margin	13.17%	13.61%	14.49%	18.29%	18.82%	22.56%	23.92%	21.08%	23.86%	23.16%	25.28%
Net Nonoperating Expense Percent (NNEP)	2.68%	2.39%	2.76%	3.32%	2.83%	4.02%	3.72%	3.04%	3.31%	2.76%	4.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	36.26%	35.92%	36.65%	44.36%
Cost of Revenue to Revenue	44.42%	45.06%	44.27%	43.90%	43.27%	41.96%	41.24%	40.48%	40.18%	38.96%	38.20%
SG&A Expenses to Revenue	11.39%	11.66%	11.22%	11.07%	10.86%	11.11%	9.63%	9.69%	9.17%	11.35%	9.41%
R&D to Revenue	6.22%	5.70%	5.54%	5.33%	5.53%	5.22%	5.01%	7.57%	5.22%	5.64%	5.84%
Operating Expenses to Revenue	36.85%	35.21%	34.76%	33.90%	33.77%	32.38%	29.78%	32.83%	29.85%	32.09%	30.20%
Earnings before Interest and Taxes (EBIT)	300	350	413	491	553	695	932	899	1,097	1,128	1,360
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	370	429	496	575	641	791	1,037	1,011	1,212	1,258	1,505
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	126.22	67.46	80.92	55.50	31.05	21.22	33.65
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	126.83	241.06	226.34	44.58	31.39	49.95
Price to Revenue (P/Rev)	4.14	5.92	6.93	7.25	9.31	15.75	17.36	10.03	12.59	8.69	12.55
Price to Earnings (P/E)	34.53	47.35	51.83	42.55	52.37	73.29	74.96	49.75	54.55	38.13	50.99
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.90%	2.11%	1.93%	2.35%	1.91%	1.36%	1.33%	2.01%	1.83%	2.62%	1.96%
Enterprise Value to Invested Capital (EV/IC)	10.03	16.09	19.62	19.51	21.67	37.30	38.53	18.99	23.55	15.83	24.06
Enterprise Value to Revenue (EV/Rev)	4.66	6.38	7.33	7.64	9.68	15.95	17.61	10.40	12.73	8.83	12.71
Enterprise Value to EBITDA (EV/EBITDA)	20.15	26.38	29.08	29.45	36.35	54.60	54.61	34.65	38.44	27.37	36.33
Enterprise Value to EBIT (EV/EBIT)	24.88	32.34	34.93	34.43	42.14	62.15	60.74	38.97	42.47	30.52	40.21
Enterprise Value to NOPAT (EV/NOPAT)	35.36	46.87	50.56	41.80	51.44	70.67	73.61	49.35	53.33	38.15	50.26
Enterprise Value to Operating Cash Flow (EV/OCF)	33.64	32.03	38.65	42.29	50.74	66.60	74.93	64.50	51.40	37.07	46.28
Enterprise Value to Free Cash Flow (EV/FCFF)	46.19	40.29	56.78	62.02	95.11	81.66	123.83	104.73	62.98	48.74	55.26
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-13.93	-11.13	-23.42	-108.34	5.55	1.44	1.34	2.22	0.64	0.54	0.53
Long-Term Debt to Equity	-7.11	-5.48	-11.26	-65.13	3.93	1.36	1.12	1.14	0.42	0.28	0.23
Financial Leverage	41.79	-8.53	-9.88	-26.41	10.52	1.75	0.99	1.55	0.83	0.35	0.39
Leverage Ratio	85.11	-15.64	-20.02	-51.54	19.99	5.09	3.58	3.99	2.87	2.13	2.08
Compound Leverage Factor	77.51	-14.37	-18.47	-48.01	18.88	4.85	3.46	3.82	2.78	2.09	2.02
Debt to Total Capital	107.73%	109.87%	104.46%	100.93%	84.74%	58.94%	57.24%	68.90%	38.97%	35.23%	34.56%
Short-Term Debt to Total Capital	52.76%	55.75%	54.26%	40.25%	24.78%	3.24%	9.20%	33.42%	13.36%	16.96%	19.28%
Long-Term Debt to Total Capital	54.98%	54.12%	50.20%	60.68%	59.97%	55.70%	48.04%	35.48%	25.61%	18.26%	15.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.01%	0.02%	0.03%	0.03%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-7.75%	-9.89%	-4.48%	-0.96%	15.23%	41.01%	42.76%	31.10%	61.03%	64.77%	65.44%
Debt to EBITDA	3.16	2.80	2.54	1.74	1.54	1.15	0.89	1.33	0.78	0.69	0.56
Net Debt to EBITDA	2.23	1.89	1.59	1.53	1.40	0.66	0.75	1.22	0.41	0.46	0.44
Long-Term Debt to EBITDA	1.61	1.38	1.22	1.05	1.09	1.09	0.75	0.69	0.51	0.36	0.25
Debt to NOPAT	5.55	4.98	4.42	2.47	2.18	1.49	1.20	1.90	1.08	0.96	0.78
Net Debt to NOPAT	3.92	3.36	2.77	2.17	1.98	0.86	1.01	1.74	0.57	0.64	0.61
Long-Term Debt to NOPAT	2.83	2.45	2.12	1.49	1.54	1.41	1.01	0.98	0.71	0.50	0.34
Altman Z-Score	4.58	6.19	7.21	9.69	11.62	19.15	23.53	13.56	19.92	16.66	23.96
Noncontrolling Interest Sharing Ratio	0.60%	-0.14%	-0.25%	-0.86%	0.37%	0.13%	0.05%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.96	0.90	0.97	0.85	0.94	1.82	1.25	0.89	1.57	1.31	1.23
Quick Ratio	0.62	0.64	0.70	0.48	0.50	1.23	0.67	0.42	0.96	0.71	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	162	281	254	273	245	529	457	334	740	707	990
Operating Cash Flow to CapEx	267.49%	545.86%	501.82%	345.64%	296.29%	605.90%	632.00%	364.82%	678.37%	768.26%	947.90%
Free Cash Flow to Firm to Interest Expense	5.52	8.77	6.83	7.85	7.89	15.96	15.34	8.39	17.79	22.64	25.47
Operating Cash Flow to Interest Expense	7.59	11.03	10.03	11.52	14.79	19.56	25.35	13.62	21.80	29.77	30.42
Operating Cash Flow Less CapEx to Interest Expense	4.75	9.01	8.03	8.18	9.80	16.34	21.34	9.89	18.59	25.90	27.21
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.12	1.18	1.21	1.36	1.43	1.31	1.36	1.30	1.22	1.19	1.30
Accounts Receivable Turnover	9.40	9.04	8.97	9.16	9.29	9.01	9.19	8.76	8.53	8.37	8.39
Inventory Turnover	4.08	4.61	5.41	5.76	5.65	5.61	5.54	4.28	3.93	3.98	4.33
Fixed Asset Turnover	5.03	5.14	5.35	5.42	4.96	4.97	5.63	5.44	5.42	5.51	5.89
Accounts Payable Turnover	14.61	14.20	13.72	14.24	14.70	15.48	13.91	12.04	13.32	13.51	14.64
Days Sales Outstanding (DSO)	38.82	40.38	40.70	39.86	39.29	40.51	39.72	41.68	42.77	43.59	43.51
Days Inventory Outstanding (DIO)	89.55	79.13	67.49	63.41	64.55	65.07	65.92	85.27	92.81	91.60	84.32
Days Payable Outstanding (DPO)	24.98	25.71	26.59	25.64	24.83	23.58	26.25	30.31	27.40	27.02	24.93
Cash Conversion Cycle (CCC)	103.39	93.80	81.59	77.64	79.00	81.99	79.39	96.64	108.19	108.17	102.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	744	704	735	867	1,075	1,157	1,469	1,845	1,978	2,175	2,273
Invested Capital Turnover	2.23	2.45	2.74	2.76	2.48	2.42	2.45	2.03	1.92	1.88	1.94
Increase / (Decrease) in Invested Capital	49	-39	31	132	208	82	312	375	134	196	99
Enterprise Value (EV)	7,461	11,327	14,429	16,918	23,298	43,164	56,612	35,022	46,592	34,434	54,690
Market Capitalization	6,633	10,514	13,639	16,041	22,400	42,639	55,833	33,786	46,098	33,854	54,022
Book Value per Share	($0.92)	($1.21)	($0.62)	($0.11)	$2.07	$7.41	$8.14	$7.35	$17.87	$19.48	$20.10
Tangible Book Value per Share	($3.51)	($3.71)	($3.41)	($3.08)	($1.41)	$3.94	$2.73	$1.80	$12.45	$13.17	$13.54
Total Capital	1,086	1,096	1,207	991	1,166	1,541	1,614	1,957	2,432	2,463	2,453
Total Debt	1,170	1,204	1,261	1,000	988	908	924	1,348	948	868	848
Total Long-Term Debt	597	593	606	601	699	858	775	694	623	450	375
Net Debt	828	812	789	876	897	525	779	1,236	494	579	668
Capital Expenditures (CapEx)	83	65	74	116	155	107	120	149	134	121	125
Debt-free, Cash-free Net Working Capital (DFCFNWC)	195	130	150	159	153	146	196	407	415	462	558
Debt-free Net Working Capital (DFNWC)	538	522	622	283	243	530	341	520	869	750	738
Net Working Capital (NWC)	-35	-89	-33	-116	-46	480	192	-134	544	332	265
Net Nonoperating Expense (NNE)	19	20	22	28	25	29	24	31	29	15	29
Net Nonoperating Obligations (NNO)	828	812	789	876	897	525	779	1,236	494	579	668
Total Depreciation and Amortization (D&A)	70	79	83	83	88	96	105	112	115	130	145
Debt-free, Cash-free Net Working Capital to Revenue	12.19%	7.33%	7.64%	7.18%	6.35%	5.40%	6.10%	12.09%	11.33%	11.84%	12.96%
Debt-free Net Working Capital to Revenue	33.58%	29.40%	31.61%	12.77%	10.10%	19.58%	10.59%	15.43%	23.73%	19.24%	17.15%
Net Working Capital to Revenue	-2.19%	-5.01%	-1.65%	-5.25%	-1.90%	17.73%	5.97%	-3.99%	14.85%	8.52%	6.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.07	$2.47	$3.00	$4.34	$4.97	$6.82	$8.74	$8.12	$10.17	$10.77	$13.17
Adjusted Weighted Average Basic Shares Outstanding	92.60M	89.73M	87.77M	86.86M	86.12M	85.34M	85.20M	83.62M	83.07M	82.47M	80.43M
Adjusted Diluted Earnings per Share	$2.05	$2.44	$2.94	$4.26	$4.89	$6.71	$8.60	$8.03	$10.06	$10.67	$13.08
Adjusted Weighted Average Diluted Shares Outstanding	93.65M	90.88M	89.57M	88.47M	87.54M	86.72M	86.57M	84.60M	83.98M	83.25M	81.03M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	89.64M	88.01M	87.12M	86.01M	85.33M	85.43M	84.25M	82.90M	83.09M	81.33M	79.62M
Normalized Net Operating Profit after Tax (NOPAT)	217	242	285	405	453	611	769	710	874	903	1,088
Normalized NOPAT Margin	13.53%	13.61%	14.49%	18.29%	18.82%	22.56%	23.92%	21.08%	23.86%	23.16%	25.28%
Pre Tax Income Margin	17.05%	18.13%	19.35%	20.68%	21.70%	24.46%	28.07%	25.54%	28.99%	28.48%	30.77%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.26	10.93	11.10	14.14	17.80	20.97	31.27	22.55	26.39	36.16	35.01
NOPAT to Interest Expense	7.22	7.54	7.67	11.65	14.58	18.44	25.80	17.81	21.01	28.93	28.01
EBIT Less CapEx to Interest Expense	7.42	8.91	9.10	10.81	12.81	17.74	27.26	18.82	23.17	32.28	31.80
NOPAT Less CapEx to Interest Expense	4.38	5.52	5.67	8.32	9.59	15.21	21.79	14.07	17.80	25.05	24.80
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	2.13%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	209.22%	139.07%	107.33%	97.95%	70.52%	31.40%	100.39%	120.71%	8.51%	94.27%	114.87%

This table displays calculated financial ratios and metrics derived from IDEXX Laboratories' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	79,624,034.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	79,624,034.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3.50
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.78%	8.81%	7.10%	6.35%	6.56%	5.84%	3.56%	10.55%	13.29%	14.28%	14.26%
EBITDA Growth	11.30%	7.75%	6.52%	-8.64%	11.09%	7.40%	6.61%	38.12%	15.81%	19.95%	14.17%
EBIT Growth	12.44%	8.29%	6.62%	-10.92%	10.39%	6.68%	5.88%	41.41%	16.77%	20.60%	14.55%
NOPAT Growth	15.29%	8.82%	6.30%	-10.86%	8.55%	10.81%	3.93%	46.20%	19.39%	15.66%	14.66%
Net Income Growth	17.29%	12.96%	10.06%	-9.34%	9.71%	11.12%	3.01%	44.61%	17.94%	14.82%	14.74%
EPS Growth	17.67%	12.68%	10.20%	-8.61%	10.67%	13.42%	5.34%	48.77%	21.43%	17.94%	17.23%
Operating Cash Flow Growth	44.14%	44.07%	7.98%	23.96%	-19.22%	4.87%	19.83%	-25.20%	82.82%	35.77%	11.89%
Free Cash Flow Firm Growth	103.56%	133.88%	153.79%	287.02%	800.69%	-62.45%	162.09%	-64.98%	251.02%	539.97%	22.87%
Invested Capital Growth	12.08%	7.26%	9.56%	6.34%	10.02%	9.91%	5.05%	12.93%	6.85%	4.53%	5.00%
Revenue Q/Q Growth	-2.98%	-1.52%	6.93%	4.10%	-2.79%	-2.18%	4.63%	11.12%	-0.38%	-1.33%	4.61%
EBITDA Q/Q Growth	-6.09%	-9.61%	19.57%	-9.99%	14.20%	-12.61%	18.69%	16.61%	-4.24%	-9.49%	12.97%
EBIT Q/Q Growth	-7.04%	-10.89%	21.87%	-11.76%	15.20%	-13.89%	20.96%	17.85%	-4.88%	-11.06%	14.89%
NOPAT Q/Q Growth	-6.10%	-8.71%	19.72%	-13.14%	14.35%	-6.80%	12.29%	22.18%	-6.62%	-9.72%	11.32%
Net Income Q/Q Growth	-5.35%	-8.34%	21.11%	-13.70%	14.53%	-7.17%	12.27%	21.14%	-6.59%	-9.62%	12.19%
EPS Q/Q Growth	-5.24%	-8.70%	21.65%	-13.17%	14.75%	-6.43%	12.98%	22.64%	-6.34%	-9.12%	12.30%
Operating Cash Flow Q/Q Growth	36.00%	-8.29%	-20.52%	25.04%	-11.37%	19.06%	-9.18%	-21.94%	116.61%	-11.58%	-25.16%
Free Cash Flow Firm Q/Q Growth	109.80%	1,448.06%	-17.63%	49.69%	-52.81%	-35.46%	474.90%	-80.00%	372.95%	17.67%	10.38%
Invested Capital Q/Q Growth	-0.62%	-0.30%	7.01%	0.30%	2.82%	-0.40%	2.28%	7.81%	-2.72%	-2.56%	2.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.85%	58.36%	61.52%	61.70%	61.10%	59.80%	62.44%	62.62%	61.83%	60.35%	63.35%
EBITDA Margin	33.23%	30.51%	34.11%	29.49%	34.65%	30.95%	35.11%	36.85%	35.42%	32.49%	35.09%
Operating Margin	30.07%	27.21%	31.01%	26.29%	31.15%	27.42%	31.70%	33.62%	32.11%	28.94%	31.78%
EBIT Margin	30.07%	27.21%	31.01%	26.29%	31.15%	27.42%	31.70%	33.62%	32.11%	28.94%	31.78%
Profit (Net Income) Margin	23.18%	21.58%	24.44%	20.26%	23.87%	22.65%	24.31%	26.50%	24.85%	22.76%	24.41%
Tax Burden Percent	79.22%	81.16%	79.73%	78.48%	77.90%	84.31%	78.26%	81.13%	79.65%	80.85%	78.34%
Interest Burden Percent	97.31%	97.70%	98.84%	98.20%	98.36%	97.98%	97.96%	97.13%	97.16%	97.27%	98.03%
Effective Tax Rate	20.78%	18.84%	20.27%	21.52%	22.10%	15.69%	21.74%	18.87%	20.35%	19.15%	21.66%
Return on Invested Capital (ROIC)	45.52%	42.29%	45.48%	37.90%	44.77%	43.39%	44.94%	48.72%	47.20%	45.28%	48.56%
ROIC Less NNEP Spread (ROIC-NNEP)	44.93%	41.76%	45.14%	37.38%	44.15%	42.56%	44.18%	47.55%	45.99%	44.16%	47.84%
Return on Net Nonoperating Assets (RNNOA)	50.21%	34.51%	30.71%	20.22%	18.97%	14.83%	19.40%	23.20%	19.34%	17.21%	24.77%
Return on Equity (ROE)	95.73%	76.80%	76.19%	58.11%	63.74%	58.22%	64.34%	71.92%	66.54%	62.48%	73.33%
Cash Return on Invested Capital (CROIC)	34.28%	38.70%	34.73%	35.72%	32.74%	34.02%	37.09%	32.43%	40.04%	44.50%	44.45%
Operating Return on Assets (OROA)	37.68%	33.16%	37.49%	31.66%	37.21%	32.62%	37.96%	40.25%	39.72%	37.49%	42.83%
Return on Assets (ROA)	29.05%	26.30%	29.54%	24.40%	28.51%	26.94%	29.10%	31.72%	30.74%	29.48%	32.89%
Return on Common Equity (ROCE)	95.73%	76.80%	76.19%	58.11%	63.74%	58.22%	64.34%	71.92%	66.54%	62.48%	73.33%
Return on Equity Simple (ROE_SIMPLE)	63.41%	0.00%	55.23%	53.51%	53.54%	0.00%	61.81%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	218	199	238	207	237	221	248	303	283	255	284
NOPAT Margin	23.82%	22.08%	24.72%	20.63%	24.27%	23.12%	24.81%	27.28%	25.57%	23.40%	24.90%
Net Nonoperating Expense Percent (NNEP)	0.59%	0.53%	0.34%	0.51%	0.62%	0.83%	0.76%	1.17%	1.20%	1.12%	0.72%
Return On Investment Capital (ROIC_SIMPLE)	-	8.19%	-	-	-	8.96%	10.37%	11.81%	11.12%	10.40%	11.20%
Cost of Revenue to Revenue	40.15%	41.64%	38.48%	38.30%	38.90%	40.20%	37.56%	37.38%	38.17%	39.65%	36.65%
SG&A Expenses to Revenue	9.72%	9.65%	9.55%	15.67%	9.42%	10.60%	9.17%	8.89%	9.58%	9.96%	10.44%
R&D to Revenue	5.24%	5.75%	5.46%	5.53%	5.53%	6.05%	5.92%	5.58%	5.74%	6.13%	5.77%
Operating Expenses to Revenue	29.79%	31.15%	30.51%	35.41%	29.95%	32.38%	30.73%	28.99%	29.72%	31.41%	31.57%
Earnings before Interest and Taxes (EBIT)	275	245	299	264	304	262	317	373	355	316	363
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	304	275	329	296	338	295	351	409	391	354	400
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	27.98	31.05	28.58	25.46	25.70	21.22	23.59	29.57	32.74	33.65	28.75
Price to Tangible Book Value (P/TBV)	42.78	44.58	42.92	37.91	37.83	31.39	36.60	45.86	49.49	49.95	43.05
Price to Revenue (P/Rev)	10.12	12.59	12.04	10.63	10.82	8.69	8.69	10.68	12.27	12.55	10.06
Price to Earnings (P/E)	44.12	54.55	51.75	47.58	48.00	38.13	38.16	43.76	49.75	50.99	40.85
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.27%	1.83%	1.93%	2.10%	2.08%	2.62%	2.62%	2.29%	2.01%	1.96%	2.45%
Enterprise Value to Invested Capital (EV/IC)	18.64	23.55	21.44	19.20	19.30	15.83	15.70	18.38	22.24	24.06	19.49
Enterprise Value to Revenue (EV/Rev)	10.31	12.73	12.19	10.77	10.96	8.83	8.88	10.92	12.45	12.71	10.24
Enterprise Value to EBITDA (EV/EBITDA)	31.02	38.44	36.84	33.87	34.05	27.37	27.29	31.64	35.88	36.33	29.28
Enterprise Value to EBIT (EV/EBIT)	34.30	42.47	40.68	37.64	37.90	30.52	30.48	35.11	39.73	40.21	32.37
Enterprise Value to NOPAT (EV/NOPAT)	43.14	53.33	51.13	47.28	47.83	38.15	38.30	43.74	49.24	50.26	40.48
Enterprise Value to Operating Cash Flow (EV/OCF)	44.56	51.40	49.27	42.08	45.97	37.07	36.07	48.66	47.69	46.28	37.62
Enterprise Value to Free Cash Flow (EV/FCFF)	57.47	62.98	64.55	55.42	61.77	48.74	43.39	60.11	57.39	55.26	44.92
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.79	0.64	0.60	0.60	0.54	0.54	0.65	0.76	0.63	0.53	0.63
Long-Term Debt to Equity	0.48	0.42	0.40	0.33	0.32	0.28	0.31	0.31	0.24	0.23	0.19
Financial Leverage	1.12	0.83	0.68	0.54	0.43	0.35	0.44	0.49	0.42	0.39	0.52
Leverage Ratio	3.23	2.87	2.56	2.35	2.21	2.13	2.18	2.22	2.12	2.08	2.20
Compound Leverage Factor	3.14	2.80	2.53	2.31	2.17	2.08	2.13	2.16	2.06	2.02	2.15
Debt to Total Capital	43.99%	38.97%	37.61%	37.42%	35.07%	35.23%	39.37%	43.07%	38.56%	34.56%	38.64%
Short-Term Debt to Total Capital	17.27%	13.36%	12.92%	16.64%	14.01%	16.96%	20.54%	25.52%	23.81%	19.28%	26.81%
Long-Term Debt to Total Capital	26.72%	25.61%	24.69%	20.78%	21.06%	18.26%	18.83%	17.55%	14.75%	15.28%	11.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	56.01%	61.03%	62.39%	62.58%	64.93%	64.77%	60.63%	56.93%	61.44%	65.44%	61.36%
Debt to EBITDA	0.85	0.78	0.77	0.78	0.71	0.69	0.73	0.79	0.68	0.56	0.63
Net Debt to EBITDA	0.58	0.41	0.45	0.45	0.46	0.46	0.61	0.67	0.53	0.44	0.50
Long-Term Debt to EBITDA	0.52	0.51	0.50	0.44	0.42	0.36	0.35	0.32	0.26	0.25	0.19
Debt to NOPAT	1.19	1.08	1.07	1.10	0.99	0.96	1.03	1.10	0.93	0.78	0.87
Net Debt to NOPAT	0.80	0.57	0.62	0.63	0.64	0.64	0.85	0.93	0.73	0.61	0.69
Long-Term Debt to NOPAT	0.72	0.71	0.70	0.61	0.60	0.50	0.49	0.45	0.36	0.34	0.27
Altman Z-Score	15.72	19.06	18.63	16.67	18.14	15.80	15.65	17.92	21.00	22.93	19.15
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.43	1.57	1.57	1.37	1.42	1.31	1.16	1.11	1.18	1.23	1.12
Quick Ratio	0.81	0.96	0.95	0.84	0.81	0.71	0.61	0.59	0.62	0.64	0.62
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4.21	65	54	80	38	24	141	28	133	157	173
Operating Cash Flow to CapEx	799.06%	767.45%	655.98%	745.57%	783.51%	895.66%	792.52%	544.67%	1,293.12%	1,208.67%	832.44%
Free Cash Flow to Firm to Interest Expense	0.49	7.03	6.79	9.92	4.93	3.26	18.35	2.49	12.49	17.01	22.33
Operating Cash Flow to Interest Expense	31.51	26.97	25.10	30.66	28.59	34.95	31.04	16.41	37.76	38.63	34.39
Operating Cash Flow Less CapEx to Interest Expense	27.56	23.45	21.28	26.55	24.94	31.04	27.12	13.39	34.84	35.43	30.26
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.25	1.22	1.21	1.20	1.19	1.19	1.20	1.20	1.24	1.30	1.35
Accounts Receivable Turnover	8.53	8.53	7.82	7.60	7.98	8.37	7.60	7.38	7.73	8.39	7.86
Inventory Turnover	3.84	3.93	3.80	3.87	3.85	3.98	3.87	4.02	4.08	4.33	4.34
Fixed Asset Turnover	5.52	5.42	5.42	5.44	5.47	5.51	5.51	5.58	5.72	5.89	6.10
Accounts Payable Turnover	12.92	13.32	12.63	13.31	13.53	13.51	12.82	13.27	13.70	14.64	13.49
Days Sales Outstanding (DSO)	42.77	42.77	46.70	48.00	45.76	43.59	48.03	49.46	47.21	43.51	46.42
Days Inventory Outstanding (DIO)	94.97	92.81	96.07	94.40	94.70	91.60	94.28	90.79	89.39	84.32	84.20
Days Payable Outstanding (DPO)	28.25	27.40	28.91	27.42	26.97	27.02	28.47	27.51	26.64	24.93	27.05
Cash Conversion Cycle (CCC)	109.49	108.19	113.87	114.98	113.49	108.17	113.83	112.74	109.96	102.89	103.57
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,985	1,978	2,117	2,124	2,183	2,175	2,224	2,398	2,333	2,273	2,335
Invested Capital Turnover	1.91	1.92	1.84	1.84	1.85	1.88	1.81	1.79	1.85	1.94	1.95
Increase / (Decrease) in Invested Capital	214	134	185	127	199	196	107	275	150	99	111
Enterprise Value (EV)	36,986	46,592	45,390	40,780	42,148	34,434	34,930	44,073	51,886	54,690	45,519
Market Capitalization	36,299	46,098	44,842	40,237	41,583	33,854	34,154	43,133	51,114	54,022	44,740
Book Value per Share	$15.63	$17.87	$18.88	$19.13	$19.66	$19.48	$17.80	$18.14	$19.51	$20.10	$19.54
Tangible Book Value per Share	$10.22	$12.45	$12.57	$12.85	$13.35	$13.17	$11.47	$11.70	$12.91	$13.54	$13.05
Total Capital	2,316	2,432	2,515	2,525	2,492	2,463	2,388	2,563	2,541	2,453	2,536
Total Debt	1,019	948	946	945	874	868	940	1,104	980	848	980
Total Long-Term Debt	619	623	621	525	525	450	450	450	375	375	300
Net Debt	687	494	548	543	565	579	776	939	772	668	779
Capital Expenditures (CapEx)	34	33	30	33	28	29	30	34	31	29	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	482	415	473	430	465	462	508	628	622	558	634
Debt-free Net Working Capital (DFNWC)	814	869	870	832	774	750	672	792	830	738	834
Net Working Capital (NWC)	414	544	545	412	425	332	181	138	225	265	154
Net Nonoperating Expense (NNE)	5.86	4.57	2.77	3.72	3.88	4.47	5.05	8.68	8.02	6.97	5.60
Net Nonoperating Obligations (NNO)	687	494	548	543	565	579	776	939	772	668	779
Total Depreciation and Amortization (D&A)	29	30	30	32	34	34	34	36	37	39	38
Debt-free, Cash-free Net Working Capital to Revenue	13.44%	11.33%	12.69%	11.37%	12.09%	11.84%	12.92%	15.55%	14.93%	12.96%	14.25%
Debt-free Net Working Capital to Revenue	22.69%	23.73%	23.36%	21.98%	20.12%	19.24%	17.09%	19.63%	19.92%	17.15%	18.76%
Net Working Capital to Revenue	11.54%	14.85%	14.63%	10.88%	11.04%	8.52%	4.61%	3.43%	5.40%	6.16%	3.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.55	$2.34	$2.84	$2.46	$2.83	$2.64	$2.98	$3.66	$3.43	$3.10	$3.50
Adjusted Weighted Average Basic Shares Outstanding	83.10M	83.07M	83.10M	82.63M	82.30M	82.47M	81.32M	80.41M	80.10M	80.43M	79.65M
Adjusted Diluted Earnings per Share	$2.53	$2.31	$2.81	$2.44	$2.80	$2.62	$2.96	$3.63	$3.40	$3.09	$3.47
Adjusted Weighted Average Diluted Shares Outstanding	83.99M	83.98M	83.96M	83.39M	83.06M	83.25M	81.92M	80.99M	80.68M	81.03M	80.16M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	83.05M	83.09M	82.59M	82.31M	81.88M	81.33M	80.42M	80.00M	79.85M	79.62M	78.88M
Normalized Net Operating Profit after Tax (NOPAT)	218	199	238	207	237	221	248	303	283	255	284
Normalized NOPAT Margin	23.82%	22.08%	24.72%	20.63%	24.27%	23.12%	24.81%	27.28%	25.57%	23.40%	24.90%
Pre Tax Income Margin	29.26%	26.58%	30.65%	25.81%	30.64%	26.87%	31.06%	32.66%	31.19%	28.15%	31.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	31.84	26.48	37.79	32.57	39.48	34.90	41.29	32.95	33.30	34.27	46.84
NOPAT to Interest Expense	25.22	21.49	30.13	25.56	30.76	29.42	32.31	26.73	26.53	27.70	36.69
EBIT Less CapEx to Interest Expense	27.89	22.96	33.96	28.46	35.83	31.00	37.37	29.94	30.38	31.07	42.71
NOPAT Less CapEx to Interest Expense	21.28	17.97	26.30	21.45	27.11	25.52	28.40	23.72	23.61	24.51	32.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	13.26%	8.51%	26.16%	52.29%	72.48%	94.27%	121.03%	122.33%	119.25%	114.87%	106.56%

Financials Breakdown Chart

Key Financial Trends

IDEXX Laboratories (IDXX) has delivered a pattern of solid profitability and cash generation over the last four years, with 2025 showing continued top‑line strength, steady margins, and positive operating cash flow. The company has gradually improved its balance sheet through debt reduction and earnings retention, while also returning capital through share repurchases. Below are the key takeaways for retail investors from the latest four-year quarterly data.

Strong year‑over‑year revenue growth and scale: Q4 2025 revenue was 1.0906B, up ~14% from Q4 2024 (0.9543B). The four‑year trend shows continued top‑line growth into 2025, reflecting ongoing demand for IDEXX’s diagnostics and services.
Stable, high gross margins: Gross margin remained robust around 60–63% across 2025 (Q1 62.4%, Q2 62.6%, Q3 61.8%, Q4 60.3%), signaling durable profitability on product and service mix.
Healthy operating margins and earnings power: 2025 operating margins generally in the 30%+ range (e.g., Q2 33.6%, Q3 32.1%, Q1 31.7%, Q4 28.9%), with strong operating income contributions supporting net income growth.
Solid net income growth and per‑share earnings: Q4 2025 net income continuing operations stood at 248.2M, up about 15% year over year from Q4 2024 (216.1M). Diluted EPS hovered in the low‑to‑mid 3s across quarters, reflecting earnings leverage.
Robust operating cash flow and ongoing cash generation: Net cash from continuing operating activities was about 355.8M in Q4 2025 (and 402.3M in Q3 2025), underscoring sustained cash generation from core operations.

Balance sheet strength and equity growth: Total equity rose toward about 1.56B by 2025, reflecting retained earnings and solid profitability, providing a stronger capital base for future growth.
Manageable debt dynamics, with some improvement in leverage: Long‑term debt declined from 449.8M (2024 Q4) toward 374.8M (2025 Q3), improving leverage and financial flexibility.
Earnings per share and share count trends are generally stable: Weighted shares outstanding and EPS figures remained in the low 3s with modest quarterly variations, suggesting limited dilution and steady per‑share profitability.

Financing outflows weighing on cash flow: 2025 quarters show sizable financing cash outflows (e.g., net cash from financing activities around −313M in Q3 2025 and −355.7M in Q4 2025), primarily reflecting share repurchases and debt activities that reduce cash despite strong operating cash flow.
Quarterly net cash position can be volatile due to financing decisions: Several quarters show negative net changes in cash, driven by financing and investing cash outflows even as operating cash flow remains positive, potentially affecting near‑term liquidity timing.

05/19/26 03:42 PM ETAI Generated. May Contain Errors.

IDEXX Laboratories Financials - Frequently Asked Questions

According to the most recent income statement we have on file, IDEXX Laboratories' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

IDEXX Laboratories' net income appears to be on an upward trend, with a most recent value of $1.06 billion in 2025, rising from $192.14 million in 2015. The previous period was $887.87 million in 2024. Check out IDEXX Laboratories' forecast to explore projected trends and price targets.

IDEXX Laboratories' total operating income in 2025 was $1.36 billion, based on the following breakdown:

Total Gross Profit: $2.66 billion
Total Operating Expenses: $1.30 billion

Over the last 10 years, IDEXX Laboratories' total revenue changed from $1.60 billion in 2015 to $4.30 billion in 2025, a change of 168.7%.

IDEXX Laboratories' total liabilities were at $1.75 billion at the end of 2025, a 2.8% increase from 2024, and a 12.0% increase since 2015.

In the past 10 years, IDEXX Laboratories' cash and equivalents has ranged from $90.33 million in 2019 to $453.93 million in 2023, and is currently $180.07 million as of their latest financial filing in 2025.

Over the last 10 years, IDEXX Laboratories' book value per share changed from -0.92 in 2015 to 20.10 in 2025, a change of -2,273.9%.

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Financial statements for NASDAQ:IDXX last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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IDEXX Laboratories (IDXX) Financials

Financials Breakdown Chart

Key Financial Trends

IDEXX Laboratories Financials - Frequently Asked Questions

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IDEXX Laboratories (IDXX) Financials

Annual Income Statements for IDEXX Laboratories

Quarterly Income Statements for IDEXX Laboratories

Annual Cash Flow Statements for IDEXX Laboratories

Quarterly Cash Flow Statements for IDEXX Laboratories

Annual Balance Sheets for IDEXX Laboratories

Quarterly Balance Sheets for IDEXX Laboratories

Annual Metrics And Ratios for IDEXX Laboratories

Quarterly Metrics And Ratios for IDEXX Laboratories

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IDEXX Laboratories Financials - Frequently Asked Questions

When does IDEXX Laboratories' financial year end?

How has IDEXX Laboratories' net income changed over the last 10 years?

What is IDEXX Laboratories' operating income?

How has IDEXX Laboratories' revenue changed over the last 10 years?

How much debt does IDEXX Laboratories have?

How much cash does IDEXX Laboratories have?

How has IDEXX Laboratories' book value per share changed over the last 10 years?

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