Health Care · Health Care Equipment · US stock · price as of 16 Oct 2026
Key indicators
Price
$560.36
52-week range
$500.61 – $769.98
Market cap
$44.4B
P/E (trailing)
39.5×
EV / EBITDA
27.7×
Free-cash-flow yield
2.8%
Dividend yield
–
Revenue (last 12 months)
$4.6B
Revenue growth (3y a year)
8.5%
Operating margin
32.0%
Return on invested capital
58.6%
Net debt / EBITDA
0.2×
Fair value
Blended fair value$429.44 range $403 – $456
Versus priceOvervalued−23% to fair value
Peer multiples
$389.05
Fundamentals-adjusted multiple
$373.38
10-year DCF (market-scaled)
$525.90
Earnings power value (floor, not blended)
$149.60
Model uncertainty
Medium
X-Ray Score
67/ 100 · High confidence · ahead of 90% of sector peers
Valuation33
Growth74
Profitability86
Financial health78
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Idexx Laboratories makes diagnostic tests and software for veterinarians, as well as testing products for water and livestock. It sells in-clinic analyzers and recurring consumables, runs a network of reference laboratories and provides practice management software. Revenue comes mostly from repeat purchases of tests and lab services, so it follows the number of veterinary visits and diagnostic testing.
Revenue at Idexx Laboratories Inc was $4.6 billion across the last twelve months. Across three years, sales expanded by 8.5% a year. Operating profit was 32.0% of revenue. It earned a return on invested capital of 59%. Debt after cash comes to 0.2 times EBITDA. There is no dividend.
StocksXray gives Idexx Laboratories Inc an X-Ray Score of 67 out of 100 (high confidence), ahead of 90% of the S&P 500 stocks in its sector. Its strongest lens is profitability (86) and its weakest is valuation (33).
Our fair value blend is $429.44 (range $403.39 to $456.46). At $560.36 the stock trades 30% above that blend, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Idexx Laboratories Inc (IDXX)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$658.46
$407.96
$555.05
$413.44
$676.53
$560.36
Market cap
$57.0B
$34.5B
$46.6B
$34.4B
$54.8B
$44.4B
P/E
76.6×
50.8×
55.2×
38.7×
51.7×
39.5×
EV / revenue
17.9×
10.4×
12.8×
8.9×
12.8×
9.8×
EV / EBITDA
55.7×
34.8×
38.7×
27.6×
36.6×
27.7×
Price / free cash flow
89.6×
87.6×
60.3×
42.6×
51.9×
35.4×
Free-cash-flow yield
1.1%
1.1%
1.7%
2.3%
1.9%
2.8%
Price / book
82.6×
56.7×
31.4×
21.6×
34.1×
27.6×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 11 Good · ● 3 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−6.7%Good
Free-cash-flow yield2.8%Bad
Risk models
Altman Z score10.8×Good
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)17.7%Good
Free-cash-flow growth (3y)38.9%Good
Revenue growth (3y)8.5%Average
Growth consistency100%Good
Balance sheet
Current ratio1.2×Bad
Net debt / EBITDA0.2×Good
Interest cover38.6×Good
Valuation
Fair value vs price0.8×Average
EBIT / EV yield3.3%Average
Profitability
Return on invested capital58.6%Good
Operating margin32.0%Good
Gross profitability82.6%Good
XStocksXray
Idexx Laboratories Inc (IDXX)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
3,215
3,367
3,661
3,898
4,304
4,553
Gross profit
1,889
2,004
2,190
2,379
2,660
2,843
Operating income
932
899
1,097
1,128
1,360
1,459
Net income
745
679
845
888
1,059
1,140
Diluted EPS ($)
8.60
8.03
10.06
10.67
13.08
14.19
Free cash flow
636
394
773
808
1,057
1,254
Gross margin
58.8%
59.5%
59.8%
61.0%
61.8%
62.4%
Operating margin
29.0%
26.7%
30.0%
29.0%
31.6%
32.0%
Net margin
23.2%
20.2%
23.1%
22.8%
24.6%
25.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
2,437
2,747
3,260
3,293
3,351
3,442
Cash
144
113
454
288
180
197
Total debt
850
769
698
618
450
450
Equity
690
609
1,485
1,595
1,605
1,613
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.