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IDXX

IDEXX LaboratoriesNasdaqGS:IDXX Stock Report

Market Cap

US$51.5b

7D

-6.1%

1Y

33.7%

Updated

26 Nov, 2021

Data

Company Financials +
IDXX fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance5/6
Financial Health4/6
Dividends0/6

IDXX Stock Overview

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.

IDEXX Laboratories Competitors

Intuitive Surgical

NasdaqGS:ISRG

US$117.6b

Edwards Lifesciences

NYSE:EW

US$68.4b

ResMed

NYSE:RMD

US$36.6b

STERIS

NYSE:STE

US$22.7b

Price History & Performance

Summary of all time highs, changes and price drops for IDEXX Laboratories
Historical stock prices
Current Share PriceUS$607.52
52 Week HighUS$706.95
52 Week LowUS$446.68
Beta0.93
1 Month Change-5.15%
3 Month Change-9.09%
1 Year Change33.75%
3 Year Change198.16%
5 Year Change430.22%
Change since IPO64,166.61%

Recent News & Updates

Nov 24

IDEXX: A Wonderful Business At An Unreasonably High Price

IDEXX is benefiting from several tailwinds in the health and diagnostics companion animal market, allowing it to grow at double-digit rates. IDEXX has a solid balance sheet, attractive financials, and growth opportunities for the next decade, especially international expansion. Unfortunately, IDXX stock is not cheap, and we would advise waiting for a better entry point in the future.

Oct 17
These 4 Measures Indicate That IDEXX Laboratories (NASDAQ:IDXX) Is Using Debt Safely

These 4 Measures Indicate That IDEXX Laboratories (NASDAQ:IDXX) Is Using Debt Safely

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Oct 04
With EPS Growth And More, IDEXX Laboratories (NASDAQ:IDXX) Is Interesting

With EPS Growth And More, IDEXX Laboratories (NASDAQ:IDXX) Is Interesting

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

IDXXUS Medical EquipmentUS Market
7D-6.1%-4.5%-2.7%
1Y33.7%13.4%21.3%

Return vs Industry: IDXX exceeded the US Medical Equipment industry which returned 13.4% over the past year.

Return vs Market: IDXX exceeded the US Market which returned 21.3% over the past year.

Price Volatility

Is IDXX's price volatile compared to industry and market?
IDXX volatility
IDXX Average Weekly Movement3.7%
Medical Equipment Industry Average Movement7.2%
Market Average Movement5.9%
10% most volatile stocks in US Market15.1%
10% least volatile stocks in US Market2.2%

Stable Share Price: IDXX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: IDXX's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19839,300Jay Mazelskyhttps://www.idexx.com

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; 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.

IDEXX Laboratories Fundamentals Summary

How do IDEXX Laboratories's earnings and revenue compare to its market cap?
IDXX fundamental statistics
Market CapUS$51.51b
Earnings (TTM)US$756.86m
Revenue (TTM)US$3.14b

68.1x

P/E Ratio

16.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IDXX income statement (TTM)
RevenueUS$3.14b
Cost of RevenueUS$1.29b
Gross ProfitUS$1.84b
ExpensesUS$1.09b
EarningsUS$756.86m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)8.93
Gross Margin58.77%
Net Profit Margin24.14%
Debt/Equity Ratio112.9%

How did IDXX perform over the long term?

See historical performance and comparison

Valuation

Is IDEXX Laboratories undervalued compared to its fair value and its price relative to the market?

68.06x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: IDXX ($607.52) is trading above our estimate of fair value ($255.3)

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 (68.1x) compared to the US Medical Equipment industry average (45.2x).

PE vs Market: IDXX is poor value based on its PE Ratio (68.1x) compared to the US market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: IDXX is poor value based on its PEG Ratio (7.4x)


Price to Book Ratio

PB vs Industry: IDXX is overvalued based on its PB Ratio (68.3x) compared to the US Medical Equipment industry average (3.7x).


Future Growth

How is IDEXX Laboratories forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

9.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IDXX's forecast earnings growth (9.2% per year) is above the savings rate (2%).

Earnings vs Market: IDXX's earnings (9.2% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: IDXX's earnings are forecast to grow, but not significantly.

Revenue vs Market: IDXX's revenue (9.6% per year) is forecast to grow slower than the US market (10.1% per year).

High Growth Revenue: IDXX's revenue (9.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IDXX's Return on Equity is forecast to be high in 3 years time (36.6%)


Past Performance

How has IDEXX Laboratories performed over the past 5 years?

24.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IDXX has high quality earnings.

Growing Profit Margin: IDXX's current net profit margins (24.1%) are higher than last year (19.2%).


Past Earnings Growth Analysis

Earnings Trend: IDXX's earnings have grown significantly by 24.4% per year over the past 5 years.

Accelerating Growth: IDXX's earnings growth over the past year (52.1%) exceeds its 5-year average (24.4% per year).

Earnings vs Industry: IDXX earnings growth over the past year (52.1%) exceeded the Medical Equipment industry 51.2%.


Return on Equity

High ROE: Whilst IDXX's Return on Equity (100.21%) is outstanding, this metric is skewed due to their high level of debt.


Financial Health

How is IDEXX Laboratories's financial position?


Financial Position Analysis

Short Term Liabilities: IDXX's short term assets ($938.0M) exceed its short term liabilities ($633.8M).

Long Term Liabilities: IDXX's short term assets ($938.0M) do not cover its long term liabilities ($996.4M).


Debt to Equity History and Analysis

Debt Level: IDXX's net debt to equity ratio (93.7%) is considered high.

Reducing Debt: IDXX's debt to equity ratio has reduced from 2045.4% to 112.9% over the past 5 years.

Debt Coverage: IDXX's debt is well covered by operating cash flow (89.6%).

Interest Coverage: IDXX's interest payments on its debt are well covered by EBIT (30.9x coverage).


Balance Sheet


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 recent payouts.

High Dividend: Unable to evaluate IDXX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent 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 (60 yo)

2.42yrs

Tenure

US$7,038,175

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 ($USD7.04M) is below average for companies of similar size in the US market ($USD11.11M).

Compensation vs Earnings: Jay's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: IDXX's management team is considered experienced (2.4 years average tenure).


Board Members

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 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$51.514b
  • Shares outstanding: 84.79m
  • Website: https://www.idexx.com

Number of Employees


Location

  • IDEXX Laboratories, Inc.
  • One IDEXX Drive
  • Westbrook
  • Maine
  • 4092
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/26 23:11
End of Day Share Price2021/11/26 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.