IDEXX Laboratories
Market Cap
US$24.5b
Last Updated
2020/02/19 23:57 UTC
Data Sources
Company Financials +
Executive Summary
IDEXX Laboratories, Inc., together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide.
Rewards
Risk Analysis
Snowflake Analysis
Proven track record with mediocre balance sheet.
Similar Companies
Share Price & News
How has IDEXX Laboratories's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IDXX has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
2.7%
IDXX
1.1%
US Medical Equipment
0.5%
US Market
1 Year Return
37.6%
IDXX
21.9%
US Medical Equipment
20.3%
US Market
Return vs Industry: IDXX exceeded the US Medical Equipment industry which returned 21.9% over the past year.
Return vs Market: IDXX exceeded the US Market which returned 20.3% over the past year.
Shareholder returns
| IDXX | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.7% | 1.1% | 0.5% |
| 30 Day | 1.8% | 0.4% | 2.0% |
| 90 Day | 11.6% | 8.3% | 9.4% |
| 1 Year | 37.6%37.6% | 22.9%21.9% | 22.8%20.3% |
| 3 Year | 104.5%104.5% | 82.5%77.4% | 50.1%40.4% |
| 5 Year | 270.5%270.5% | 116.4%93.7% | 73.1%54.1% |
Price Volatility Vs. Market
How volatile is IDEXX Laboratories's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Should You Think About Buying IDEXX Laboratories, Inc. (NASDAQ:IDXX) Now?1 month ago | Simply Wall St
Don't Sell IDEXX Laboratories, Inc. (NASDAQ:IDXX) Before You Read This1 month ago | Simply Wall St
Here's Why We Think IDEXX Laboratories (NASDAQ:IDXX) Is Well Worth WatchingValuation
Is IDEXX Laboratories undervalued compared to its fair value and its price relative to the market?
58.58x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: IDXX ($290.97) is trading above our estimate of fair value ($122.83)
Significantly Below Fair Value: IDXX is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: IDXX is poor value based on its PE Ratio (58.6x) compared to the Medical Equipment industry average (47.5x).
PE vs Market: IDXX is poor value based on its PE Ratio (58.6x) compared to the US market (18.3x).
Price to Earnings Growth Ratio
PEG Ratio: IDXX is poor value based on its PEG Ratio (4.8x)
Price to Book Ratio
PB vs Industry: IDXX is overvalued based on its PB Ratio (140.1x) compared to the US Medical Equipment industry average (4.1x).
Next Steps
Future Growth
How is IDEXX Laboratories forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
12.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IDXX's forecast earnings growth (12.1% per year) is above the savings rate (1.7%).
Earnings vs Market: IDXX's earnings (12.1% per year) are forecast to grow slower than the US market (14.2% per year).
High Growth Earnings: IDXX's earnings are forecast to grow, but not significantly.
Revenue vs Market: IDXX's revenue (9.2% per year) is forecast to grow faster than the US market (7.6% per year).
High Growth Revenue: IDXX's revenue (9.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if IDXX's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has IDEXX Laboratories performed over the past 5 years?
20.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IDXX has high quality earnings.
Growing Profit Margin: IDXX's current net profit margins (17.8%) are higher than last year (17%).
Past Earnings Growth Analysis
Earnings Trend: IDXX's earnings have grown by 20% per year over the past 5 years.
Accelerating Growth: IDXX's earnings growth over the past year (13.4%) is below its 5-year average (20% per year).
Earnings vs Industry: IDXX earnings growth over the past year (13.4%) exceeded the Medical Equipment industry 7.1%.
Return on Equity
High ROE: Whilst IDXX's Return on Equity (240.57%) is outstanding, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is IDEXX Laboratories's financial position?
Financial Position Analysis
Short Term Liabilities: IDXX's short term assets ($679.6M) do not cover its short term liabilities ($725.3M).
Long Term Liabilities: IDXX's short term assets ($679.6M) do not cover its long term liabilities ($929.3M).
Debt to Equity History and Analysis
Debt Level: IDXX's debt to equity ratio (555.4%) is considered high.
Reducing Debt: IDXX's debt to equity ratio has reduced from 772.1% to 555.4% over the past 5 years.
Debt Coverage: IDXX's debt is well covered by operating cash flow (46.5%).
Interest Coverage: IDXX's interest payments on its debt are well covered by EBIT (18.1x coverage).
Balance Sheet
Inventory Level: IDXX has a high level of physical assets or inventory.
Debt Coverage by Assets: IDXX's debt is not covered by short term assets (assets are 0.7x debt).
Next Steps
Dividend
What is IDEXX Laboratories's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate IDXX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate IDXX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if IDXX's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if IDXX's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of IDXX's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.4yrs
Average management tenure
CEO
Jay Mazelsky (58yo)
0.7yrs
Tenure
US$2,897,125
Compensation
Mr. Jonathan J. Mazelsky, also known as Jay, has been President, Chief Executive Officer and Director at IDEXX Laboratories, Inc. since October 23, 2019. Mr. Mazelsky was an Interim President and Chief Exe ...
CEO Compensation Analysis
Compensation vs Market: Jay's total compensation ($USD2.90M) is below average for companies of similar size in the US market ($USD10.78M).
Compensation vs Earnings: Jay's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 0.7yrs | US$2.90m | 0.050% $12.2m | |
| CFO, Executive VP & Treasurer | 6.1yrs | US$2.91m | 0.055% $13.6m | |
| Chief Marketing Officer & Corporate VP | 0.08yrs | US$1.94m | 0.014% $3.5m | |
| Senior Advisor & Director | 18.1yrs | US$6.82m | 1.21% $296.0m | |
| Executive VP and GM of Reference Laboratories & Information Technology | 0.08yrs | US$1.36m | 0.0024% $575.0k | |
| Corporate Vice President of Worldwide Operations | 2.4yrs | no data | no data | |
| Senior Director of Accounting & Financial Reporting | 5.1yrs | no data | no data | |
| Corporate VP & Chief Technology Officer | 4.8yrs | no data | no data | |
| Corporate VP & Chief Information Officer | 4yrs | no data | no data | |
| Vice President of Investor Relations | 0yrs | no data | no data |
2.4yrs
Average Tenure
57.5yo
Average Age
Experienced Management: IDXX's management team is considered experienced (2.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 0.7yrs | US$2.90m | 0.050% $12.2m | |
| Senior Advisor & Director | 18.1yrs | US$6.82m | 1.21% $296.0m | |
| Independent Director | 7.6yrs | US$282.53k | 0.012% $2.9m | |
| Independent Director | 5.9yrs | US$280.03k | 0.0033% $807.5k | |
| Independent Director | 4.6yrs | US$275.03k | 0.0016% $403.7k | |
| Independent Director | 2.6yrs | US$260.03k | 0.0010% $244.7k | |
| Independent Director | 16.6yrs | US$270.03k | 0.017% $4.2m | |
| Independent Chairman & Lead Director | 0.3yrs | US$272.53k | 0.0079% $1.9m | |
| Independent Director | 6.6yrs | US$260.03k | 0.010% $2.5m | |
| Director | 0.6yrs | no data | no data |
5.3yrs
Average Tenure
58yo
Average Age
Experienced Board: IDXX's board of directors are considered experienced (5.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
IDEXX Laboratories, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: IDEXX Laboratories, Inc.
- Ticker: IDXX
- Exchange: NasdaqGS
- Founded: 1983
- Industry: Health Care Equipment
- Sector: Healthcare
- Market Cap: US$24.468b
- Shares outstanding: 85.33m
- Website: https://www.idexx.com
Number of Employees
Location
- IDEXX Laboratories, Inc.
- One IDEXX Drive
- Westbrook
- Maine
- 4092
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| IDXX | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jun 1991 |
| IX1 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jun 1991 |
| IDXX | WBAG (Wiener Boerse AG) | Yes | Common Stock | AT | EUR | Jun 1991 |
| 0J8P | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Jun 1991 |
| IX1 | ETLX (Eurotlx) | Yes | Common Stock | IT | EUR | Jun 1991 |
| I1DX34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 5 REPR 1 COM | BR | BRL | Jan 2020 |
Biography
IDEXX Laboratories, Inc., together with its subsidiaries, 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 Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; 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, as well as 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 that are used in the human point-of-care medical diagnostics market. It 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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/19 23:57 |
| End of Day Share Price | 2020/02/19 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.