IDEXX Laboratories, Inc.

NasdaqGS:IDXX Stock Report

Market Cap: US$33.8b

IDEXX Laboratories Valuation

Is IDXX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IDXX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IDXX ($412.26) is trading below our estimate of fair value ($413.41)

Significantly Below Fair Value: IDXX is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IDXX?

Key metric: As IDXX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for IDXX. This is calculated by dividing IDXX's market cap by their current earnings.
What is IDXX's PE Ratio?
PE Ratio39x
EarningsUS$866.24m
Market CapUS$33.76b

Price to Earnings Ratio vs Peers

How does IDXX's PE Ratio compare to its peers?

The above table shows the PE ratio for IDXX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average31.7x
GEHC GE HealthCare Technologies
21.5x11.5%US$36.1b
RMD ResMed
31.3x11.1%US$34.8b
EW Edwards Lifesciences
28.2x3.3%US$44.1b
DXCM DexCom
45.9x16.6%US$31.3b
IDXX IDEXX Laboratories
39x10.3%US$33.8b

Price-To-Earnings vs Peers: IDXX is expensive based on its Price-To-Earnings Ratio (39x) compared to the peer average (31.7x).

Price to Earnings Ratio vs Industry

How does IDXX's PE Ratio compare vs other companies in the US Medical Equipment Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MHUA Meihua International Medical Technologies
0.9xn/aUS$8.08m
PAVM PAVmed
0.4x-90.0%US$6.39m
RTSL Rapid Therapeutic Science Laboratories
0.3xn/aUS$18.99k
No more companies available in this PE range
IDXX 39.0xIndustry Avg. 35.2xNo. of Companies9PE020406080100+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IDXX is expensive based on its Price-To-Earnings Ratio (39x) compared to the US Medical Equipment industry average (35.2x).

Price to Earnings Ratio vs Fair Ratio

What is IDXX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IDXX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio39x
Fair PE Ratio32.2x

Price-To-Earnings vs Fair Ratio: IDXX is expensive based on its Price-To-Earnings Ratio (39x) compared to the estimated Fair Price-To-Earnings Ratio (32.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IDXX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$412.26
US$478.62
+16.1%
11.1%US$566.00US$400.00n/a13
Dec ’25US$421.75
US$476.76
+13.0%
11.5%US$566.00US$400.00n/a12
Nov ’25US$417.28
US$491.26
+17.7%
12.1%US$570.00US$400.00n/a12
Oct ’25US$495.42
US$527.18
+6.4%
13.7%US$630.00US$395.00n/a12
Sep ’25US$481.33
US$544.55
+13.1%
11.8%US$630.00US$400.00n/a12
Aug ’25US$477.84
US$554.05
+15.9%
12.4%US$641.00US$400.00n/a12
Jul ’25US$476.40
US$564.14
+18.4%
12.0%US$641.00US$400.00n/a11
Jun ’25US$496.95
US$563.80
+13.5%
11.4%US$641.00US$400.00n/a12
May ’25US$468.04
US$581.97
+24.3%
13.0%US$675.00US$400.00n/a13
Apr ’25US$532.41
US$585.81
+10.0%
12.8%US$675.00US$400.00n/a13
Mar ’25US$576.87
US$583.92
+1.2%
13.3%US$675.00US$400.00n/a12
Feb ’25US$527.28
US$551.04
+4.5%
14.1%US$650.00US$351.00n/a12
Jan ’25US$555.05
US$521.46
-6.1%
13.6%US$600.00US$351.00n/a12
Dec ’24US$482.60
US$510.68
+5.8%
14.7%US$600.00US$351.00US$421.7511
Nov ’24US$395.35
US$535.74
+35.5%
14.5%US$600.00US$351.00US$417.2811
Oct ’24US$437.27
US$561.19
+28.3%
12.9%US$600.00US$351.00US$495.4211
Sep ’24US$511.29
US$565.74
+10.6%
12.8%US$625.00US$351.00US$481.3311
Aug ’24US$532.30
US$554.36
+4.1%
12.7%US$600.00US$351.00US$477.8411
Jul ’24US$502.23
US$540.80
+7.7%
13.1%US$600.00US$351.00US$476.4010
Jun ’24US$469.84
US$540.80
+15.1%
13.1%US$600.00US$351.00US$496.9510
May ’24US$489.60
US$536.20
+9.5%
14.5%US$600.00US$326.00US$468.0410
Apr ’24US$500.08
US$535.70
+7.1%
14.5%US$600.00US$326.00US$532.4110
Mar ’24US$469.10
US$532.89
+13.6%
14.9%US$600.00US$326.00US$576.879
Feb ’24US$483.20
US$487.89
+1.0%
14.8%US$582.00US$326.00US$527.289
Jan ’24US$407.96
US$463.44
+13.6%
15.3%US$582.00US$326.00US$555.059
Dec ’23US$439.17
US$463.44
+5.5%
15.3%US$582.00US$326.00US$482.609

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 04:22
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

IDEXX Laboratories, Inc. is covered by 31 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Daniel OwczarskiAvondale Partners
Ishan MajumdarBaptista Research
Balaji PrasadBarclays