IDEXX Laboratories (NasdaqGS:IDXX) - Share price, News & Analysis

IDXX fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	4/6
Past Performance	2/6
Financial Health	5/6
Dividends	0/6

IDXX Stock Overview

Rewards

Earnings are forecast to grow 13.48% per year

Earnings have grown 23.9% per year over the past 5 years

Risk Analysis

Has a high level of debt

IDEXX Laboratories Competitors

Intuitive Surgical

NasdaqGS:ISRG

US$78.6b

Edwards Lifesciences

NYSE:EW

US$58.6b

ResMed

NYSE:RMD

US$28.9b

STERIS

NYSE:STE

US$22.6b

Price History & Performance

Summary of all time highs, changes and price drops for IDEXX Laboratories
Historical stock prices
Current Share Price	US$372.23
52 Week High	US$706.95
52 Week Low	US$330.66
Beta	1.11
1 Month Change	-24.42%
3 Month Change	-23.95%
1 Year Change	-30.98%
3 Year Change	45.34%
5 Year Change	122.15%
Change since IPO	39,276.42%

Recent News & Updates

May 06

We Think IDEXX Laboratories (NASDAQ:IDXX) Can Manage Its Debt With Ease

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

	IDXX	US Medical Equipment	US Market
7D	2.8%	0.5%	-2.7%
1Y	-31.0%	-16.2%	-12.9%

Return vs Industry: IDXX underperformed the US Medical Equipment industry which returned -16.2% over the past year.

Return vs Market: IDXX underperformed the US Market which returned -12.9% over the past year.

Price Volatility

Is IDXX's price volatile compared to industry and market?
IDXX volatility
IDXX Average Weekly Movement	6.6%
Medical Equipment Industry Average Movement	10.6%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: IDXX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: IDXX's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1983	10,350	Jay Mazelsky	https://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; 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.

IDEXX Laboratories Fundamentals Summary

How do IDEXX Laboratories's earnings and revenue compare to its market cap?
IDXX fundamental statistics
Market Cap	US$31.27b
Earnings (TTM)	US$734.55m
Revenue (TTM)	US$3.27b

42.6x

P/E Ratio

9.6x

P/S Ratio

Is IDXX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
IDXX income statement (TTM)
Revenue	US$3.27b
Cost of Revenue	US$1.36b
Gross Profit	US$1.92b
Other Expenses	US$1.18b
Earnings	US$734.55m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 02, 2022

Earnings per share (EPS)	8.74
Gross Margin	58.56%
Net Profit Margin	22.43%
Debt/Equity Ratio	183.4%

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?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

42.57x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: IDXX ($372.23) is trading above our estimate of fair value ($313.33)

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 (42.6x) compared to the US Medical Equipment industry average (35.2x).

PE vs Market: IDXX is poor value based on its PE Ratio (42.6x) compared to the US market (15.3x).

Price to Earnings Growth Ratio

PEG Ratio: IDXX is poor value based on its PEG Ratio (3.2x)

Price to Book Ratio

PB vs Industry: IDXX is overvalued based on its PB Ratio (48.9x) compared to the US Medical Equipment industry average (2.4x).

Future Growth

How is IDEXX Laboratories forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

13.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: IDXX's forecast earnings growth (13.5% per year) is above the savings rate (1.9%).

Earnings vs Market: IDXX's earnings (13.5% per year) are forecast to grow faster than the US market (12.5% per year).

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

Revenue vs Market: IDXX's revenue (10% per year) is forecast to grow faster than the US market (7.8% per year).

High Growth Revenue: IDXX's revenue (10% 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 very high in 3 years time (66%).

Past Performance

How has IDEXX Laboratories performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

23.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IDXX has high quality earnings.

Growing Profit Margin: IDXX's current net profit margins (22.4%) are lower than last year (23.6%).

Past Earnings Growth Analysis

Earnings Trend: IDXX's earnings have grown significantly by 23.9% per year over the past 5 years.

Accelerating Growth: IDXX's earnings growth over the past year (9%) is below its 5-year average (23.9% per year).

Earnings vs Industry: IDXX earnings growth over the past year (9%) underperformed the Medical Equipment industry 14.5%.

Return on Equity

High ROE: Whilst IDXX's Return on Equity (114.8%) is outstanding, this metric is skewed due to their high level of debt.

Financial Health

How is IDEXX Laboratories's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: IDXX's short term assets ($1.1B) exceed its short term liabilities ($971.3M).

Long Term Liabilities: IDXX's short term assets ($1.1B) exceed its long term liabilities ($981.6M).

Debt to Equity History and Analysis

Debt Level: IDXX's net debt to equity ratio (151.4%) is considered high.

Reducing Debt: IDXX had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: IDXX's debt is well covered by operating cash flow (63.6%).

Interest Coverage: IDXX's interest payments on its debt are well covered by EBIT (32.5x coverage).

Balance Sheet

Dividend

What is IDEXX Laboratories's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

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.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as IDXX has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure

CEO

Jay Mazelsky (60 yo)

2.92yrs

Tenure

US$9,065,021

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 ($USD9.07M) is below average for companies of similar size in the US market ($USD13.34M).

Compensation vs Earnings: Jay's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: IDXX's management team is considered experienced (2.3 years average tenure).

Board Members

Experienced Board: IDXX's board of directors are considered experienced (6.2 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31