IDEXX Laboratories (IDXX)
Market Price (12/18/2025): $695.82 | Market Cap: $55.7 BilSector: Health Care | Industry: Health Care Equipment
IDEXX Laboratories (IDXX)
Market Price (12/18/2025): $695.82Market Cap: $55.7 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31% | Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -4.0% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 39x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 47x, P/EPrice/Earnings or Price/(Net Income) is 50x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% | |
| Low stock price volatilityVol 12M is 44% | Key risksIDXX key risks include [1] subdued U.S. Show more. | |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, Digital Health & Telemedicine, and Sustainable Resource Management. Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% |
| Low stock price volatilityVol 12M is 44% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, Digital Health & Telemedicine, and Sustainable Resource Management. Show more. |
| Weak multi-year price returns2Y Excs Rtn is -18%, 3Y Excs Rtn is -4.0% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 39x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 47x, P/EPrice/Earnings or Price/(Net Income) is 50x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2% |
| Key risksIDXX key risks include [1] subdued U.S. Show more. |
Valuation, Metrics & Events
IDXX Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are the key points highlighting why IDEXX Laboratories (IDXX) stock moved by approximately 7.5% for the approximate time period from August 31, 2025, to December 18, 2025:
1. Strong Third Quarter 2025 Financial Results.
IDEXX Laboratories announced robust third-quarter 2025 earnings on November 3, 2025, surpassing analyst expectations. The company reported an Earnings Per Share (EPS) of $3.22, exceeding the consensus estimate of $3.14. Additionally, quarterly revenue grew by 13.3% year-over-year to $1.11 billion, also above analyst estimates of $1.07 billion.
2. Increased Full-Year 2025 Guidance.
Following its strong third-quarter performance, IDEXX Laboratories raised its full-year 2025 outlook. The company updated its EPS guidance range to $12.81 - $13.01, representing a $0.33 increase at the midpoint from previous guidance. It also increased its full-year revenue growth guidance, reflecting strong operational performance and a refined organic growth outlook.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IDXX Return | 91% | 32% | -38% | 36% | -26% | 68% | 165% |
| Peers Return | 23% | 31% | -30% | 15% | -17% | -11% | -4% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| IDXX Win Rate | 75% | 58% | 42% | 50% | 42% | 58% | |
| Peers Win Rate | 62% | 67% | 35% | 56% | 46% | 40% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| IDXX Max Drawdown | -30% | -7% | -51% | -4% | -27% | -13% | |
| Peers Max Drawdown | -26% | -7% | -41% | -12% | -22% | -32% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: ZTS, HSIC, NEOG, TMO. See IDXX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)
How Low Can It Go
| Event | IDXX | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -54.0% | -25.4% |
| % Gain to Breakeven | 117.4% | 34.1% |
| Time to Breakeven | 1,116 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -37.1% | -33.9% |
| % Gain to Breakeven | 59.1% | 51.3% |
| Time to Breakeven | 45 days | 148 days |
| 2018 Correction | ||
| % Loss | -30.8% | -19.8% |
| % Gain to Breakeven | 44.4% | 24.7% |
| Time to Breakeven | 151 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -57.3% | -56.8% |
| % Gain to Breakeven | 134.1% | 131.3% |
| Time to Breakeven | 519 days | 1,480 days |
Compare to MRK, ZTS, ELAN, PAHC, DAVI
In The Past
IDEXX Laboratories's stock fell -54.0% during the 2022 Inflation Shock from a high on 8/5/2021. A -54.0% loss requires a 117.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to IDXX. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11142025 | CRL | Charles River Laboratories International | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 16.3% | 16.3% | -3.7% |
| 11142025 | GDRX | GoodRx | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -7.1% | -7.1% | -11.8% |
| 11142025 | ASTH | Astrana Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.6% | 3.6% | -5.5% |
| 11142025 | SGRY | Surgery Partners | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 1.6% | 1.6% | -1.4% |
| 11072025 | TFX | Teleflex | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 14.1% | 14.1% | -5.1% |
| 01312025 | IDXX | IDEXX Laboratories | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 26.9% | 64.2% | -14.5% |
| 07312024 | IDXX | IDEXX Laboratories | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -12.0% | 12.2% | -24.2% |
| 06302022 | IDXX | IDEXX Laboratories | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.0% | 43.2% | -7.4% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11142025 | CRL | Charles River Laboratories International | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 16.3% | 16.3% | -3.7% |
| 11142025 | GDRX | GoodRx | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -7.1% | -7.1% | -11.8% |
| 11142025 | ASTH | Astrana Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.6% | 3.6% | -5.5% |
| 11142025 | SGRY | Surgery Partners | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 1.6% | 1.6% | -1.4% |
| 11072025 | TFX | Teleflex | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 14.1% | 14.1% | -5.1% |
| 01312025 | IDXX | IDEXX Laboratories | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 26.9% | 64.2% | -14.5% |
| 07312024 | IDXX | IDEXX Laboratories | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -12.0% | 12.2% | -24.2% |
| 06302022 | IDXX | IDEXX Laboratories | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.0% | 43.2% | -7.4% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for IDEXX Laboratories
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 122.25 |
| Mkt Cap | 54.1 |
| Rev LTM | 9,397 |
| Op Inc LTM | 1,306 |
| FCF LTM | 940 |
| FCF 3Y Avg | 804 |
| CFO LTM | 1,088 |
| CFO 3Y Avg | 945 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.2% |
| Rev Chg 3Y Avg | 5.5% |
| Rev Chg Q | 4.9% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Mgn LTM | 18.4% |
| Op Mgn 3Y Avg | 17.6% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 17.5% |
| CFO/Rev 3Y Avg | 19.3% |
| FCF/Rev LTM | 14.0% |
| FCF/Rev 3Y Avg | 15.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 54.1 |
| P/S | 4.2 |
| P/EBIT | 18.3 |
| P/E | 24.4 |
| P/CFO | 22.2 |
| Total Yield | 3.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.6% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 4.0% |
| 3M Rtn | 13.7% |
| 6M Rtn | 33.8% |
| 12M Rtn | 4.7% |
| 3Y Rtn | -5.0% |
| 1M Excs Rtn | 3.2% |
| 3M Excs Rtn | 10.4% |
| 6M Excs Rtn | 21.4% |
| 12M Excs Rtn | -11.1% |
| 3Y Excs Rtn | -74.9% |
Comparison Analyses
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/3/2025 | 14.8% | 12.5% | 15.3% |
| 8/4/2025 | 27.5% | 22.9% | 19.4% |
| 5/1/2025 | 9.0% | 12.5% | 18.7% |
| 2/3/2025 | 11.1% | 8.9% | 4.6% |
| 10/31/2024 | -9.8% | -6.1% | -6.5% |
| 8/6/2024 | 3.1% | 5.5% | 3.6% |
| 5/1/2024 | -5.0% | -1.8% | 1.4% |
| 2/5/2024 | 8.5% | 8.5% | 5.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 14 |
| # Negative | 10 | 8 | 10 |
| Median Positive | 5.4% | 5.6% | 6.7% |
| Median Negative | -4.5% | -4.7% | -7.1% |
| Max Positive | 27.5% | 22.9% | 19.4% |
| Max Negative | -9.8% | -22.0% | -12.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11032025 | 10-Q 9/30/2025 |
| 6302025 | 8042025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2212025 | 10-K 12/31/2024 |
| 9302024 | 10312024 | 10-Q 9/30/2024 |
| 6302024 | 8062024 | 10-Q 6/30/2024 |
| 3312024 | 5012024 | 10-Q 3/31/2024 |
| 12312023 | 2222024 | 10-K 12/31/2023 |
| 9302023 | 11012023 | 10-Q 9/30/2023 |
| 6302023 | 8012023 | 10-Q 6/30/2023 |
| 3312023 | 5022023 | 10-Q 3/31/2023 |
| 12312022 | 2162023 | 10-K 12/31/2022 |
| 9302022 | 11012022 | 10-Q 9/30/2022 |
| 6302022 | 8022022 | 10-Q 6/30/2022 |
| 3312022 | 5042022 | 10-Q 3/31/2022 |
| 12312021 | 2162022 | 10-K 12/31/2021 |
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