IDEXX Laboratories (IDXX)
Market Price (5/20/2026): $546.5 | Market Cap: $43.5 BilSector: Health Care | Industry: Health Care Equipment
IDEXX Laboratories (IDXX)
Market Price (5/20/2026): $546.5Market Cap: $43.5 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% Stock buyback supportStock Buyback 3Y Total is 2.5 Bil Low stock price volatilityVol 12M is 41% 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 -35%, 3Y Excs Rtn is -66% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x, P/EPrice/Earnings or Price/(Net Income) is 40x Key risksIDXX key risks include [1] subdued U.S. Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% |
| Stock buyback supportStock Buyback 3Y Total is 2.5 Bil |
| Low stock price volatilityVol 12M is 41% |
| 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 -35%, 3Y Excs Rtn is -66% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x, P/EPrice/Earnings or Price/(Net Income) is 40x |
| Key risksIDXX key risks include [1] subdued U.S. Show more. |
Qualitative Assessment
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1. Significant Insider Selling by Key Executives.
Multiple high-level executives at IDEXX Laboratories have engaged in substantial share sales since February 2026. President and CEO Jonathan Jay Mazelsky sold 23,326 shares for an estimated $15,338,080. Executive Vice President Nimrata Hunt sold 13,876 shares valued at approximately $9,526,121, and Executive Vice President George Fennell sold 11,345 shares for an estimated $7,336,993. These transactions represent over $32 million in insider sales, potentially signaling concerns or a shift in sentiment among company leadership.
2. Persistent Concerns Regarding Softness in U.S. Veterinary Clinic Visits and Pricing Pressure.
Despite strong Q1 2026 financial results, which saw revenue climb 14% year-over-year to $1.14 billion and diluted EPS rise 17% to $3.47, underlying concerns persist regarding "softer U.S. clinic visit trends" and "potential pressure on price driven growth" in the companion animal diagnostics sector. These macroeconomic headwinds are noted to be tempering near-term growth expectations for IDEXX, even as the company raised its full-year 2026 guidance.
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Stock Movement Drivers
Fundamental Drivers
The -18.5% change in IDXX stock from 1/31/2026 to 5/19/2026 was primarily driven by a -24.0% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 670.46 | 546.49 | -18.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,167 | 4,446 | 6.7% |
| Net Income Margin (%) | 24.7% | 24.6% | -0.1% |
| P/E Multiple | 52.3 | 39.7 | -24.0% |
| Shares Outstanding (Mil) | 80 | 80 | 0.6% |
| Cumulative Contribution | -18.5% |
Market Drivers
1/31/2026 to 5/19/2026| Return | Correlation | |
|---|---|---|
| IDXX | -18.5% | |
| Market (SPY) | 6.3% | 53.0% |
| Sector (XLV) | -4.4% | 50.4% |
Fundamental Drivers
The -13.2% change in IDXX stock from 10/31/2025 to 5/19/2026 was primarily driven by a -22.6% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 629.51 | 546.49 | -13.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,038 | 4,446 | 10.1% |
| Net Income Margin (%) | 24.4% | 24.6% | 0.9% |
| P/E Multiple | 51.4 | 39.7 | -22.6% |
| Shares Outstanding (Mil) | 80 | 80 | 1.0% |
| Cumulative Contribution | -13.2% |
Market Drivers
10/31/2025 to 5/19/2026| Return | Correlation | |
|---|---|---|
| IDXX | -13.2% | |
| Market (SPY) | 8.2% | 42.9% |
| Sector (XLV) | 3.0% | 40.0% |
Fundamental Drivers
The 26.3% change in IDXX stock from 4/30/2025 to 5/19/2026 was primarily driven by a 14.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 432.65 | 546.49 | 26.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,898 | 4,446 | 14.1% |
| Net Income Margin (%) | 22.8% | 24.6% | 8.1% |
| P/E Multiple | 39.9 | 39.7 | -0.3% |
| Shares Outstanding (Mil) | 82 | 80 | 2.8% |
| Cumulative Contribution | 26.3% |
Market Drivers
4/30/2025 to 5/19/2026| Return | Correlation | |
|---|---|---|
| IDXX | 26.3% | |
| Market (SPY) | 33.8% | 40.1% |
| Sector (XLV) | 6.7% | 30.1% |
Fundamental Drivers
The 11.0% change in IDXX stock from 4/30/2023 to 5/19/2026 was primarily driven by a 32.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 492.16 | 546.49 | 11.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,367 | 4,446 | 32.0% |
| Net Income Margin (%) | 20.2% | 24.6% | 22.1% |
| P/E Multiple | 60.1 | 39.7 | -33.9% |
| Shares Outstanding (Mil) | 83 | 80 | 4.1% |
| Cumulative Contribution | 11.0% |
Market Drivers
4/30/2023 to 5/19/2026| Return | Correlation | |
|---|---|---|
| IDXX | 11.0% | |
| Market (SPY) | 83.3% | 47.0% |
| Sector (XLV) | 16.0% | 42.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IDXX Return | 32% | -38% | 36% | -26% | 64% | -19% | 9% |
| Peers Return | 31% | -30% | 15% | -17% | -11% | -11% | -30% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| IDXX Win Rate | 58% | 42% | 50% | 42% | 58% | 0% | |
| Peers Win Rate | 67% | 35% | 56% | 46% | 40% | 30% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| IDXX Max Drawdown | -17% | -51% | -30% | -29% | -23% | -27% | |
| Peers Max Drawdown | -16% | -44% | -30% | -28% | -40% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[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] 2026 data is for the year up to 5/19/2026 (YTD)
How Low Can It Go
| Event | IDXX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -19.9% | -18.8% |
| % Gain to Breakeven | 24.9% | 23.1% |
| Time to Breakeven | 23 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.7% | -9.5% |
| % Gain to Breakeven | 42.2% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.6% | -24.5% |
| % Gain to Breakeven | 94.4% | 32.4% |
| Time to Breakeven | 1025 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.1% | -33.7% |
| % Gain to Breakeven | 59.1% | 50.9% |
| Time to Breakeven | 45 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.4% | -19.2% |
| % Gain to Breakeven | 35.9% | 23.8% |
| Time to Breakeven | 129 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -17.8% | -12.2% |
| % Gain to Breakeven | 21.6% | 13.9% |
| Time to Breakeven | 64 days | 62 days |
In The Past
IDEXX Laboratories's stock fell -19.9% during the 2025 US Tariff Shock. Such a loss loss requires a 24.9% gain to breakeven.
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| Event | IDXX | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.7% | -9.5% |
| % Gain to Breakeven | 42.2% | 10.5% |
| Time to Breakeven | 47 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.6% | -24.5% |
| % Gain to Breakeven | 94.4% | 32.4% |
| Time to Breakeven | 1025 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.1% | -33.7% |
| % Gain to Breakeven | 59.1% | 50.9% |
| Time to Breakeven | 45 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.4% | -19.2% |
| % Gain to Breakeven | 35.9% | 23.8% |
| Time to Breakeven | 129 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -24.0% | -17.9% |
| % Gain to Breakeven | 31.5% | 21.8% |
| Time to Breakeven | 114 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -53.7% | -53.4% |
| % Gain to Breakeven | 116.0% | 114.4% |
| Time to Breakeven | 420 days | 1085 days |
In The Past
IDEXX Laboratories's stock fell -19.9% during the 2025 US Tariff Shock. Such a loss loss requires a 24.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About IDEXX Laboratories (IDXX)
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Abbott Laboratories for the veterinary industry.
The Quest Diagnostics for pets and livestock.
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- Veterinary Diagnostic Instruments & Consumables: Provides point-of-care instruments, rapid assay test kits, and consumables for in-clinic veterinary diagnostics.
- Veterinary Reference Laboratory Services: Offers comprehensive diagnostic testing and consulting services through reference laboratories for veterinarians.
- Veterinary Practice Management & Imaging Systems: Supplies software and systems for managing veterinary clinics and advanced diagnostic imaging.
- Livestock, Poultry & Dairy Diagnostics: Delivers products and services for health monitoring and disease detection in livestock, poultry, and dairy industries.
- Water Quality Testing Products: Manufactures tests and systems designed to detect various microbiological contaminants in water.
- Biomedical Research Diagnostics: Offers health monitoring, biological materials testing, and diagnostic instruments and services for the biomedical research community.
- Human Point-of-Care Diagnostics: Provides analyzers for electrolytes and blood gas, and SARS-CoV-2 RT-PCR tests for human medical diagnostics.
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Major Customers of IDEXX Laboratories (IDXX)
IDEXX Laboratories primarily sells its products and services to other companies and organizations, rather than directly to individuals. Based on the company description, its major customer categories include:
- Veterinary Clinics, Hospitals, and Reference Laboratories: This encompasses independent veterinary clinics, corporate veterinary groups, animal hospitals, and veterinary reference laboratories that utilize IDEXX's diagnostic products, practice management software, and consulting services for companion animals.
- Agricultural Businesses: This category includes businesses in the livestock, poultry, and dairy industries that use IDEXX's diagnostic and health-monitoring products for their animals.
- Water Testing Entities: This segment includes municipalities, water utilities, industrial facilities, and environmental agencies that rely on IDEXX's products for testing water for various microbiological contaminants.
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Jay Mazelsky, President and Chief Executive Officer
Jay Mazelsky has served as President and Chief Executive Officer of IDEXX since October 2019. Prior to this, he held roles as Interim President and CEO from June to October 2019, and as Executive Vice President leading the North American Companion Animal Group Commercial Organization and innovation portfolio from August 2012 to June 2019. Before joining IDEXX, he was a Senior Vice President and General Manager at Philips Healthcare from 2010 to 2012, and held various leadership roles at Philips starting in 2001. From 1997 to 2002, he held executive positions at Agilent Technologies, including leading the integration of its Healthcare Group into Philips. Earlier, he worked in finance, marketing, and business planning at Hewlett Packard from 1988 to 1996. He also serves on the board of directors of Dentsply Sirona, Inc.
Andrew Emerson, Executive Vice President, Chief Financial Officer and Treasurer
Andrew Emerson assumed the role of Executive Vice President, Chief Financial Officer, and Treasurer, effective March 1, 2025. He joined IDEXX in November 2015, initially leading the finance organization for the Companion Animal Group business. In March 2020, he took on additional responsibility for corporate finance functions, including investor relations, financial planning and analysis, accounting, tax, and treasury. Before IDEXX, he was Vice President, Finance and Business Unit Controller at Medtronic plc, having joined the company through its acquisition of Covidien plc, where he held various finance positions.
Michael Erickson, Executive Vice President and General Manager, Global Point of Care Diagnostics and Telemedicine
Michael Erickson serves as the Executive Vice President and General Manager of Global Point of Care Diagnostics and Telemedicine business lines. He is slated to succeed Jay Mazelsky as President and Chief Executive Officer effective May 12, 2026. Dr. Erickson joined IDEXX in 2011 and has held senior positions across diagnostics, software, strategy, and corporate accounts. Prior to his tenure at IDEXX, he worked as an Associate Principal at McKinsey & Company, where he advised healthcare, biotechnology, and pharmaceutical companies.
Michael Lane, Executive Vice President and General Manager, Global Reference Laboratories, Diagnostic Solutions and Information Technology
Michael Lane has been the Executive Vice President and General Manager, Global Reference Laboratories, Diagnostic Solutions and Information Technology since January 2025. His responsibilities include Global Reference Laboratories, IDEXX BioAnalytics, Water, OPTI Medical, Livestock, Poultry and Dairy businesses, and the Information Technology function. Mr. Lane has served as an Executive Vice President of IDEXX since January 2020, and previously as a Corporate Vice President from July 2015 to January 2020, and a Vice President from 2012 to July 2015. He became General Manager of IDEXX's Global Reference Laboratories business in November 2016, following his role as General Manager of U.S. Reference Laboratories from June 2014 to November 2016. He first joined IDEXX in 1997, focusing on strategic planning and business development for diagnostic laboratory services.
Martin Smith, Executive Vice President, Global Operations and R&D
Dr. Martin Smith has been Executive Vice President, Global Operations and R&D since January 2025. He joined IDEXX in August 2021 as Executive Vice President and Chief Technology Officer, a position he held until December 2024. Before joining IDEXX, he was Vice President and Chief Technology Officer of Cytiva, part of Danaher Corporation, from August 2020 to July 2021. He previously held various leadership positions, including Chief Technology Officer from 2014 to 2020, at Pall Corporation, also a Danaher company, where he worked from 2006 to 2020. Earlier in his career, from 1997 to 2005, Dr. Smith held roles such as VP R&D and VP Marketing/Business Development at Whatman plc. He holds multiple U.S.-issued patents in separations science.
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The key risks to IDEXX Laboratories (IDXX) include intense competition and pricing pressure, macroeconomic conditions impacting pet care spending, and the potential for technological obsolescence and the need for continuous innovation.
- Competition and Pricing Pressure: IDEXX operates in a highly competitive veterinary diagnostics market. Competitors often utilize aggressive pricing strategies, discounted bundled offerings for diagnostic and IT solutions, and pursue exclusive, long-term contracts with large corporate veterinary groups. This can lead to pricing pressure on IDEXX's products and services and potentially slow instrument placements that underpin recurring consumables revenue. The consolidation of veterinary practices also increases buyer power, which can lead to stronger demands for discounts and lower-cost alternatives.
- Macroeconomic Conditions and Pet Care Spending: Economic weakness or perceived economic weakness, particularly in key geographies like the U.S., can lead to softness in clinical visits and a reduction in demand for diagnostic products and services. As pet care can be discretionary, an unfavorable macroeconomic environment could reduce pet owners' willingness to spend on veterinary diagnostics, thereby negatively impacting IDEXX's sales and profitability.
- Technological Obsolescence and Innovation: The diagnostic industry is characterized by continuous technological advancements. There is a risk of technological disruption, including from companies specializing in human biomarker testing, which could impact IDEXX's competitive position. To maintain its leadership, IDEXX must continually invest in research and development to introduce innovative products and adapt to new technologies, such as AI-powered diagnostic tools. Failure to keep pace with innovation or effectively integrate new technologies could impact its market share and growth.
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IDEXX Laboratories, Inc. (IDXX) operates in several key addressable markets globally for its products and services.
Companion Animal Group (CAG) Diagnostics
The global companion animal diagnostics market was estimated at USD 7.06 billion in 2025 and is projected to reach USD 14.41 billion by 2033. North America held the largest revenue share of this market in 2025.
Water Quality Products
The global water quality monitoring market was valued at USD 6.16 billion in 2025 and is projected to grow to USD 13.01 billion by 2034. North America dominated the water quality monitoring systems market with a 36.0% share in 2024.
Livestock and Poultry Diagnostics (LPD)
The global livestock diagnostics market was estimated at USD 3.4 billion in 2025 and is projected to reach USD 8.1 billion by 2033. North America dominated this market with the largest revenue share of 40.1% in 2025.
Dairy Testing
The global dairy testing market size was valued at USD 7.58 billion in 2025 and is projected to grow to USD 15.73 billion by 2034. Europe accounted for the largest revenue market share of dairy testing in 2024.
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IDEXX Laboratories (IDXX) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Sustained Growth in Companion Animal Group (CAG) Diagnostics Recurring Revenue: IDEXX anticipates continued strong performance in its CAG Diagnostics recurring revenue, supported by solid volume gains and an estimated 4% full-year benefit from net price improvement. This segment remains a primary growth engine, outpacing overall sector growth.
- Successful Adoption and Commercialization of Innovative Diagnostic Platforms: The company is focused on the successful launch and meaningful adoption of new diagnostic innovations. Notably, IDEXX Cancer Dx for canine lymphoma and the IDEXX inVue Dx cellular analyzer are highlighted as key products expanding the role of diagnostics in earlier disease detection and improving veterinary efficiency.
- Expansion of the Global Premium Instrument Installed Base: Record placements of premium instruments, including the IDEXX inVue Dx and Catalyst analyzers, are crucial. This expanding installed base directly drives higher recurring revenue from consumables and services in the long term.
- Growth in Veterinary Software and Services: Revenue growth in veterinary software, services, and diagnostic imaging systems is expected to contribute to overall expansion. This is led by continued adoption and expansion of cloud-native software installed bases, which generate recurring revenue.
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Capital Allocation Decisions for IDEXX Laboratories (IDXX)
Share Repurchases
- IDEXX allocated $208 million to share repurchases in the second quarter of 2024, leading to a 0.7% year-on-year reduction in diluted shares outstanding.
- For the full fiscal year 2024, the company repurchased $837.03 million of stock, a significant increase from $71.92 million in 2023.
- In December 2024, IDEXX's Board of Directors authorized an increase in its ongoing share repurchase program, allowing for the repurchase of up to five million additional shares, supplementing the 1.3 million shares remaining under previous authorizations as of December 3, 2024.
Share Issuance
- The company's shares outstanding have shown a declining trend over the last few years, indicating net share repurchases. Shares outstanding decreased by 2.67% in 2025, 0.87% in 2024, and 0.74% in 2023.
- IDEXX's 3-Year Share Buyback Ratio was 1.20% as of December 2025, reflecting net share buybacks over the period.
Capital Expenditures
- IDEXX's capital expenditures averaged $126 million for the fiscal years ending December 2020 to 2024.
- The company's estimated capital spending for the full year 2024 is approximately $180 million, with projections for 2025 at around $160 million.
- Capital expenditures are primarily focused on advancing the company's innovation agenda, including new platform development, and supporting high-quality placements of Companion Animal Group (CAG) Diagnostics capital instruments.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEHC | GE HealthCare Technologies | 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 | 0.0% | 0.0% | 0.0% |
| 04302026 | IQV | IQVIA | 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 | 0.0% | 0.0% | 0.0% |
| 04302026 | UHS | Universal Health Services | 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 | 0.0% | 0.0% | 0.0% |
| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 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% | 58.9% | -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
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 78.92 |
| Mkt Cap | 33.3 |
| Rev LTM | 9,509 |
| Op Inc LTM | 1,406 |
| FCF LTM | 1,068 |
| FCF 3Y Avg | 901 |
| CFO LTM | 1,210 |
| CFO 3Y Avg | 1,033 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.4% |
| Rev Chg 3Y Avg | 5.5% |
| Rev Chg Q | 6.2% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Inc Chg LTM | 4.7% |
| Op Inc Chg 3Y Avg | 3.7% |
| Op Mgn LTM | 18.2% |
| Op Mgn 3Y Avg | 17.9% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 18.3% |
| CFO/Rev 3Y Avg | 19.4% |
| FCF/Rev LTM | 14.9% |
| FCF/Rev 3Y Avg | 16.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 33.3 |
| P/S | 3.5 |
| P/Op Inc | 11.1 |
| P/EBIT | 12.1 |
| P/E | 21.2 |
| P/CFO | 20.1 |
| Total Yield | 4.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.2% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -12.2% |
| 3M Rtn | -12.7% |
| 6M Rtn | -18.5% |
| 12M Rtn | 4.8% |
| 3Y Rtn | -14.3% |
| 1M Excs Rtn | -16.7% |
| 3M Excs Rtn | -20.8% |
| 6M Excs Rtn | -30.0% |
| 12M Excs Rtn | -17.9% |
| 3Y Excs Rtn | -92.2% |
Comparison Analyses
Price Behavior
| Market Price | $546.49 | |
| Market Cap ($ Bil) | 43.7 | |
| First Trading Date | 06/24/1991 | |
| Distance from 52W High | -28.7% | |
| 50 Days | 200 Days | |
| DMA Price | $568.39 | $641.53 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -3.9% | -14.8% |
| 3M | 1YR | |
| Volatility | 31.2% | 41.5% |
| Downside Capture | 181.15 | 159.29 |
| Upside Capture | 80.29 | 122.78 |
| Correlation (SPY) | 55.1% | 39.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.44 | 1.21 | 1.14 | 1.17 | 1.38 | 1.08 |
| Up Beta | 0.80 | 1.03 | 0.90 | 0.73 | 1.52 | 1.19 |
| Down Beta | -0.68 | 0.35 | 0.96 | 0.84 | 0.85 | 0.81 |
| Up Capture | 99% | 88% | 81% | 131% | 170% | 111% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 21 | 32 | 62 | 131 | 376 |
| Down Capture | 754% | 199% | 166% | 146% | 134% | 106% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 22 | 32 | 63 | 120 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IDXX | |
|---|---|---|---|---|
| IDXX | 4.9% | 41.5% | 0.21 | - |
| Sector ETF (XLV) | 12.7% | 14.7% | 0.60 | 36.1% |
| Equity (SPY) | 25.0% | 12.1% | 1.55 | 39.9% |
| Gold (GLD) | 40.0% | 26.8% | 1.23 | 9.2% |
| Commodities (DBC) | 49.4% | 18.5% | 2.03 | -11.1% |
| Real Estate (VNQ) | 9.7% | 13.4% | 0.45 | 31.5% |
| Bitcoin (BTCUSD) | -25.6% | 41.9% | -0.59 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IDXX | |
|---|---|---|---|---|
| IDXX | 1.2% | 35.2% | 0.10 | - |
| Sector ETF (XLV) | 5.6% | 14.6% | 0.20 | 51.4% |
| Equity (SPY) | 14.2% | 17.0% | 0.65 | 56.6% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 9.8% |
| Commodities (DBC) | 11.0% | 19.4% | 0.45 | 4.6% |
| Real Estate (VNQ) | 4.0% | 18.8% | 0.11 | 48.5% |
| Bitcoin (BTCUSD) | 9.4% | 55.6% | 0.38 | 22.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IDXX | |
|---|---|---|---|---|
| IDXX | 20.0% | 33.0% | 0.63 | - |
| Sector ETF (XLV) | 9.5% | 16.5% | 0.46 | 55.1% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 58.6% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 9.1% |
| Commodities (DBC) | 8.4% | 17.9% | 0.38 | 11.5% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 44.4% |
| Bitcoin (BTCUSD) | 67.2% | 66.9% | 1.06 | 13.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | -0.0% | -5.5% | |
| 2/2/2026 | -4.6% | -3.9% | -5.2% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 14 |
| # Negative | 11 | 9 | 10 |
| Median Positive | 5.4% | 5.6% | 6.7% |
| Median Negative | -4.5% | -4.8% | -5.9% |
| 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 |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/2/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 4.63 Bil | 4.68 Bil | 4.72 Bil | 9.1% | Higher New | Actual: 4.29 Bil for 2025 | |
| 2026 Revenue Growth | 7.6% | 8.6% | 9.6% | -13.6% | -1.4% | Lower New | Actual: 9.95% for 2025 |
| 2026 Organic Revenue Growth | 7.0% | 8.0% | 9.0% | -12.6% | -1.2% | Lower New | Actual: 9.15% for 2025 |
| 2026 Operating Margin | 32.0% | 32.25% | 32.5% | 1.7% | 0.6% | Higher New | Actual: 31.7% for 2025 |
| 2026 EPS | 14.3 | 14.5 | 14.8 | 12.7% | Higher New | Actual: 12.9 for 2025 | |
| 2026 Capital Expenditures | 180.00 Mil | 28.6% | Higher New | Actual: 140.00 Mil for 2025 | |||
Prior: Q3 2025 Earnings Reported 11/3/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 4.27 Bil | 4.29 Bil | 4.30 Bil | 1.0% | Raised | Guidance: 4.24 Bil for 2025 | |
| 2025 Revenue Growth | 9.6% | 9.95% | 10.3% | 14.4% | 1.2% | Raised | Guidance: 8.7% for 2025 |
| 2025 Organic Revenue Growth | 8.8% | 9.15% | 9.5% | 14.4% | 1.2% | Raised | Guidance: 8.0% for 2025 |
| 2025 Operating Margin | 31.6% | 31.7% | 31.8% | 0.8% | 0.2% | Raised | Guidance: 31.45% for 2025 |
| 2025 EPS | 12.8 | 12.9 | 13 | 2.6% | Raised | Guidance: 12.6 for 2025 | |
| 2025 Capital Expenditures | 140.00 Mil | -12.5% | Lowered | Guidance: 160.00 Mil for 2025 | |||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hunt, Nimrata | Executive Vice President | Direct | Sell | 3052026 | 634.57 | 1,758 | 1,115,577 | 11,511,731 | Form |
| 2 | Mazelsky, Jonathan Jay | President and CEO | Direct | Sell | 3022026 | 657.55 | 23,326 | 15,338,081 | 54,975,573 | Form |
| 3 | Hunt, Nimrata | Executive Vice President | Direct | Sell | 2272026 | 661.54 | 2,693 | 1,781,531 | 13,163,973 | Form |
| 4 | Erickson, Michael G | Executive Vice President | Direct | Sell | 2192026 | 627.38 | 5,371 | 3,369,666 | 7,963,574 | Form |
| 5 | Vandebroek, Sophie V | Direct | Sell | 2192026 | 628.62 | 1,464 | 920,293 | 407,343 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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