Mesa Laboratories (MLAB)


Market Price (8/27/2026): $126.99 | Market Cap: $718.4 MilSector: Information Technology | Industry: Electronic Equipment & Instruments

Mesa Laboratories (MLAB)


Market Price (8/27/2026): $126.99
Market Cap: $718.4 Mil
Sector: Information Technology
Industry: Electronic Equipment & Instruments

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%

Attractive yield
FCF Yield is 7.4%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Water Infrastructure. Themes include Advanced Diagnostics, Biopharmaceutical R&D, Show more.

Trading close to highs
Dist 52W High is -0.2%

Weak multi-year price returns
2Y Excs Rtn is -38%, 3Y Excs Rtn is -80%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 150x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%

Key risks
MLAB key risks include [1] a significant debt load and a paradoxical inability to translate revenue growth into profit, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%
1 Attractive yield
FCF Yield is 7.4%
2 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Water Infrastructure. Themes include Advanced Diagnostics, Biopharmaceutical R&D, Show more.
3 Trading close to highs
Dist 52W High is -0.2%
4 Weak multi-year price returns
2Y Excs Rtn is -38%, 3Y Excs Rtn is -80%
5 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 150x
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%
7 Key risks
MLAB key risks include [1] a significant debt load and a paradoxical inability to translate revenue growth into profit, Show more.

MLAB in ETFs

Weight = MLAB's share of each fund

VTI0.00%
ITOT0.00%
IWM0.02%
IWO0.04%
VTWO0.02%
SCHA0.01%
DFAS0.01%
VHT0.01%
+3 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/21/2026

Mesa Laboratories (MLAB) stock has gained about 25% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2027 Earnings Surpass Expectations. Mesa Laboratories reported its fiscal Q1 2027 results (for the quarter ended June 30, 2026) on August 10, 2026, delivering an earnings per share (EPS) of $2.68, which significantly exceeded analyst estimates. Although revenue growth was a modest 1.0%, reaching $60.1 million, the company demonstrated robust operational efficiency with a 19.5% increase in non-GAAP adjusted operating income (AOI) excluding unusual items, representing 25.6% of revenues. This positive earnings surprise was a significant catalyst, leading to a 9.61% surge in the stock price on the day of the announcement.

2. Improved Financial Health and Debt Reduction. The company continued to strengthen its balance sheet by reducing its total net leverage ratio. In fiscal Q1 2027, Mesa Laboratories repaid $8.656 million of debt, bringing the Total Net Leverage Ratio down to 1.85 as of June 30, 2026. This consistent focus on debt reduction and improved financial health, building on a $14.7 million debt repayment in the prior fiscal Q4 2026 which reduced leverage to 2.11, signaled prudent financial management to investors.

Show more
Updated on 8/21/2026

Mesa Laboratories (MLAB) stock has gained about 25% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2027 Earnings Surpass Expectations. Mesa Laboratories reported its fiscal Q1 2027 results (for the quarter ended June 30, 2026) on August 10, 2026, delivering an earnings per share (EPS) of $2.68, which significantly exceeded analyst estimates. Although revenue growth was a modest 1.0%, reaching $60.1 million, the company demonstrated robust operational efficiency with a 19.5% increase in non-GAAP adjusted operating income (AOI) excluding unusual items, representing 25.6% of revenues. This positive earnings surprise was a significant catalyst, leading to a 9.61% surge in the stock price on the day of the announcement.

2. Improved Financial Health and Debt Reduction. The company continued to strengthen its balance sheet by reducing its total net leverage ratio. In fiscal Q1 2027, Mesa Laboratories repaid $8.656 million of debt, bringing the Total Net Leverage Ratio down to 1.85 as of June 30, 2026. This consistent focus on debt reduction and improved financial health, building on a $14.7 million debt repayment in the prior fiscal Q4 2026 which reduced leverage to 2.11, signaled prudent financial management to investors.

3. Positive Management Outlook and Strategic Execution Under New Leadership. Under the new President and CEO, Siddhartha Kadia, who assumed leadership around April 2026, Mesa Laboratories has articulated a renewed focus on "disciplined execution and consistent, profitable growth across its four divisions." Kadia’s commentary following the fiscal Q1 2027 results highlighted a return to positive core organic growth and outlined clear strategies for enhancing operational efficiency, particularly in addressing delivery challenges within the Sterilization and Disinfection Control (SDC) division and strengthening the Biopharmaceutical Development (BPD) segment. This strategic clarity and emphasis on execution likely boosted investor confidence in the company's future performance.

4. Upgraded Analyst Price Targets and Sustained Positive Sentiment. Following the strong fiscal Q1 2027 earnings report, several analysts revised their price targets for Mesa Laboratories upwards. For example, on August 14, 2026, Wells Fargo & Company raised its price target from $94.00 to $110.00, while maintaining an "Equal-Weight" rating. The average analyst price target for MLAB reached $117.50, reflecting a generally positive outlook and a belief in the stock's potential upside. This series of analyst upgrades contributed to sustained investor interest and positive momentum for the stock.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 27.3% change in MLAB stock from 4/30/2026 to 8/26/2026 was primarily driven by a 27.4% change in the company's Net Income Margin (%).
(LTM values as of)43020268262026Change
Stock Price ($)99.84127.1527.3%
Change Contribution By: 
Total Revenues ($ Mil)2482500.9%
Net Income Margin (%)1.5%1.9%27.4%
P/E Multiple147.9149.91.3%
Shares Outstanding (Mil)66-2.2%
Cumulative Contribution27.3%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/26/2026
ReturnCorrelation
MLAB27.3% 
Market (SPY)6.6%18.6%
Sector (XLK)14.6%9.7%

Fundamental Drivers

The 62.0% change in MLAB stock from 1/31/2026 to 8/26/2026 was primarily driven by a 63.2% change in the company's P/S Multiple.
(LTM values as of)13120268262026Change
Stock Price ($)78.51127.1562.0%
Change Contribution By: 
Total Revenues ($ Mil)2452501.8%
P/S Multiple1.82.963.2%
Shares Outstanding (Mil)66-2.6%
Cumulative Contribution62.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/26/2026
ReturnCorrelation
MLAB62.0% 
Market (SPY)11.0%22.5%
Sector (XLK)27.2%11.7%

Fundamental Drivers

The 67.5% change in MLAB stock from 7/31/2025 to 8/26/2026 was primarily driven by a 67.9% change in the company's P/S Multiple.
(LTM values as of)73120258262026Change
Stock Price ($)75.90127.1567.5%
Change Contribution By: 
Total Revenues ($ Mil)2412503.6%
P/S Multiple1.72.967.9%
Shares Outstanding (Mil)56-3.7%
Cumulative Contribution67.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/26/2026
ReturnCorrelation
MLAB67.5% 
Market (SPY)22.2%30.9%
Sector (XLK)39.7%19.5%

Fundamental Drivers

The 0.7% change in MLAB stock from 7/31/2023 to 8/26/2026 was primarily driven by a 352.8% change in the company's Net Income Margin (%).
(LTM values as of)73120238262026Change
Stock Price ($)126.27127.150.7%
Change Contribution By: 
Total Revenues ($ Mil)21925014.0%
Net Income Margin (%)0.4%1.9%352.8%
P/E Multiple726.1149.9-79.4%
Shares Outstanding (Mil)56-5.5%
Cumulative Contribution0.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/26/2026
ReturnCorrelation
MLAB0.7% 
Market (SPY)73.3%39.3%
Sector (XLK)108.9%30.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MLAB Return15%-49%-37%27%-40%63%-54%
Peers Return26%-29%10%-2%-10%48%28%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
MLAB Win Rate58%17%33%50%33%75% 
Peers Win Rate65%42%57%52%47%52% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
MLAB Max Drawdown-21%-64%-58%-30%-63%-24% 
Peers Max Drawdown-28%-44%-36%-28%-36%-33% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MVIS, KEYS, ROP, TDY, ZBRA.
[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 8/26/2026 (YTD)

How Low Can It Go

EventMLABS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.7%-9.5%
  % Gain to Breakeven50.8%10.5%
  Time to Breakeven269 days24 days
2020 COVID-19 Crash
  % Loss-28.7%-33.7%
  % Gain to Breakeven40.3%50.9%
  Time to Breakeven198 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-32.4%-12.2%
  % Gain to Breakeven48.0%13.9%
  Time to Breakeven118 days62 days
2014-2016 Oil Price Collapse
  % Loss-22.6%-6.8%
  % Gain to Breakeven29.1%7.3%
  Time to Breakeven36 days15 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-18.0%-15.4%
  % Gain to Breakeven22.0%18.2%
  Time to Breakeven97 days125 days
2008-2009 Global Financial Crisis
  % Loss-39.1%-53.4%
  % Gain to Breakeven64.2%114.4%
  Time to Breakeven208 days1085 days

Compare to MVIS, KEYS, ROP, TDY, ZBRA

In The Past

Mesa Laboratories's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% 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.

EventMLABS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-33.7%-9.5%
  % Gain to Breakeven50.8%10.5%
  Time to Breakeven269 days24 days
2020 COVID-19 Crash
  % Loss-28.7%-33.7%
  % Gain to Breakeven40.3%50.9%
  Time to Breakeven198 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-32.4%-12.2%
  % Gain to Breakeven48.0%13.9%
  Time to Breakeven118 days62 days
2014-2016 Oil Price Collapse
  % Loss-22.6%-6.8%
  % Gain to Breakeven29.1%7.3%
  Time to Breakeven36 days15 days
2008-2009 Global Financial Crisis
  % Loss-39.1%-53.4%
  % Gain to Breakeven64.2%114.4%
  Time to Breakeven208 days1085 days
Summer 2007 Credit Crunch
  % Loss-21.6%-8.6%
  % Gain to Breakeven27.6%9.5%
  Time to Breakeven105 days47 days

Compare to MVIS, KEYS, ROP, TDY, ZBRA

In The Past

Mesa Laboratories's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% 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 Mesa Laboratories (MLAB)

Mesa Laboratories (MLAB) is a global company that designs, manufactures, and markets essential quality control instruments and disposable products. The company's diverse offerings are crucial for ensuring safety, compliance, and process integrity across highly regulated industries, spanning healthcare, pharmaceuticals, and various industrial applications.

MLAB's operations include several key segments. Its Sterilization and Disinfection Control segment provides biological, cleaning, and chemical indicators, alongside laboratory testing services, primarily for hospitals, dental practices, and pharmaceutical manufacturers to assess sterilization effectiveness. The Instruments segment offers quality control hardware such as dialysate meters, data loggers, and gas flow calibration equipment, serving the healthcare, food and beverage, and environmental air sampling industries. Furthermore, the Continuous Monitoring segment develops systems to track critical environmental parameters like temperature and humidity in pharmacies, blood banks, and laboratories.

The company also focuses on Biopharmaceutical Development, offering automated systems for protein analysis and peptide synthesis solutions. These specialized tools, including protein analysis equipment and peptide synthesizers, support the creation of peptide therapies, biomaterials, and cosmetics, as well as general research within the biopharmaceutical sector. Through these segments, Mesa Laboratories provides vital solutions that enable its customers to maintain rigorous quality standards and ensure the reliability of their operations.

AI Analysis | Feedback

Here are 1-2 analogies to describe Mesa Laboratories (MLAB):

  • Think of them as a niche Thermo Fisher Scientific, specializing in quality assurance instruments and environmental monitoring for pharmaceutical, healthcare, and laboratory settings.
  • They're like a specialized Honeywell, providing precision quality control instruments and continuous monitoring systems for critical industrial and healthcare environments.

AI Analysis | Feedback

  • Sterilization and Disinfection Indicators: Products like biological, cleaning, and chemical indicators used to assess the effectiveness of sterilization and disinfection processes.
  • Dental Industry Testing Services: Laboratory and testing services primarily provided to the dental industry.
  • Quality Control Instruments: Hardware products including dialysate meters, data loggers, gas flow calibration and air sampling equipment, and torque testing systems.
  • Automated Protein Analysis Systems: Systems, equipment, kits, and buffers for protein analysis and immunoassays.
  • Peptide Synthesizers: Automated systems for the chemical synthesis of peptides used in various applications.
  • Continuous Environmental Monitoring Systems: Systems that monitor critical environmental parameters like temperature, humidity, and differential pressure.

AI Analysis | Feedback

Mesa Laboratories (MLAB) primarily sells its products and services to other companies and institutions rather than directly to individuals. Based on the company description, its major customers operate within the following industries:

  • Healthcare Industry: This extensive category includes hospitals, dental offices, blood banks, pharmacies, medical device manufacturers, and various healthcare laboratories. These customers utilize Mesa Laboratories' sterilization and disinfection control products, continuous monitoring systems, and a range of quality control instruments like dialysate meters.
  • Pharmaceutical and Biopharmaceutical Industry: This encompasses pharmaceutical manufacturers, biopharmaceutical development companies, and related research institutions. These customers rely on Mesa Laboratories for sterilization and disinfection control, quality control instruments, biopharmaceutical development systems (such as automated systems for protein analysis and peptide synthesis solutions), and continuous monitoring solutions to ensure critical storage and processing conditions.
  • General Industrial and Research: This broad category includes customers in the food and beverage industry, industrial hygiene, environmental air sampling, and general research sectors (e.g., for biomaterials, cosmetics, and general scientific research). They utilize various quality control instruments, data loggers, gas flow calibration and air sampling equipment, and torque testing systems.

AI Analysis | Feedback

null

AI Analysis | Feedback

Gary Owens, President and Chief Executive Officer

Gary Owens joined Mesa Laboratories as Chief Operating Officer in March 2017 and was promoted to President and Chief Executive Officer in September 2017. Prior to Mesa, Mr. Owens held various leadership positions at Danaher Corporation and its subsidiaries from 2006 to March 2017, where his responsibilities included acquiring and integrating new companies and serving as General Manager for portions of Beckman Coulter Life Sciences. His early career also included roles in the technology field with companies like Canon Incorporated and Trilogy Software, and he was a team leader at Bain & Company, focusing on commercial strategy and M&A programs. Mr. Owens will step down as CEO on April 12, 2026, and Dr. Siddhartha Kadia will assume the role on April 13, 2026.

John V. Sakys, Chief Financial Officer, Chief Accounting Officer, Secretary and Treasurer

John V. Sakys became Mesa Laboratories' Chief Financial Officer in October 2012. From 2009 to 2012, he held multiple positions with The Berry Company, LLC, and its predecessor, Local Insight Regatta Holdings, Inc., most recently as Vice President and Chief Accounting Officer, overseeing general accounting, SEC reporting, treasury, and tax compliance. Before that, from 2001 to 2009, Mr. Sakys was the Vice President and Chief Financial Officer of Isonics Corporation, a NASDAQ-listed manufacturing company, where he was involved in financial reporting, investor relations, and debt and equity raises. His earlier experience includes Controller of AuraServ Communications and Director of Financial Reporting for Media One, Inc., as well as an audit manager at Ernst and Young LLP. He is a Certified Public Accountant.

Brian Archbold, Senior Vice President, Continuous Improvement

Brian Archbold joined Mesa Laboratories in January 2018 as Senior Vice President, Continuous Improvement. Prior to his tenure at Mesa, he worked for Quadion LLC from January 2015 to 2018.

Glenn Adriance, Chief Sales & Marketing Officer

Glenn Adriance serves as the Chief Sales & Marketing Officer for Mesa Laboratories Inc.

Garrett Krushefski, Senior Vice President of Operations

Garrett Krushefski serves as Senior Vice President of Operations at Mesa Laboratories Inc.

AI Analysis | Feedback

Mesa Laboratories (MLAB) faces several key risks inherent to its operations in highly regulated and specialized markets.

  1. Intense Market Competition and Evolving Regulatory Landscape: Mesa Laboratories operates in sectors with significant competition from larger, well-resourced companies such as Danaher and Thermo Fisher, which possess superior research and development budgets and extensive sales networks. This intense rivalry, involving approximately 357 competitors, necessitates a continuous focus on technical precision and specialized product development to maintain market position. Furthermore, the company operates within highly regulated industries, meaning shifts in regulatory frameworks, particularly in its Clinical Genomics division, pose a substantial risk. Keeping pace with complex and changing guidelines from regulatory bodies like the FDA and EMA is challenging, and non-compliance can lead to costly penalties or product delays. For instance, recent regulatory changes in China have contributed to a downturn in the Clinical Genomics market.
  2. Supply Chain Vulnerabilities and Manufacturing Risks: The company faces manufacturing and supply chain risks, including a reliance on sole or limited sources of supply for certain materials, components, and services. Such dependencies could lead to production interruptions, delays, and inefficiencies. Increased order volumes have previously resulted in a higher backlog of past-due orders. Additionally, the broader global economic outlook, including protectionism and potential recessions, presents further risks to supply chain stability.
  3. Challenges with International Operations and Acquisition-Led Growth Strategy: A significant portion of Mesa Laboratories' revenue is generated outside the United States, making its international operations susceptible to various risks. Specifically, the Clinical Genomics division has experienced declining revenues in China due to macroeconomic conditions and trade tensions. While strategic acquisitions are a cornerstone of Mesa Laboratories' growth strategy, there is a risk that these acquisitions may not deliver the anticipated growth or may pose integration challenges, affecting future prospects and business expansion plans. The company's acquisition strategy, particularly within clinical genomics, has been noted by some investors as not having delivered expected growth, and its balance sheet may constrain further acquisitions.

AI Analysis | Feedback

The rapid development and widespread adoption of highly integrated, cloud-based Internet of Things (IoT) solutions for environmental monitoring from larger technology companies and building automation specialists. These solutions often provide more comprehensive, scalable, and cost-effective alternatives for monitoring temperature, humidity, and pressure across facilities, directly competing with and potentially displacing Mesa Laboratories' dedicated continuous monitoring systems in hospitals, pharmaceutical manufacturing, and laboratory environments.

AI Analysis | Feedback

Mesa Laboratories (symbol: MLAB) operates in several distinct markets, with various addressable market sizes for its main products and services:

Sterilization and Disinfection Control Segment

  • Biological and Chemical Indicators: The global biological and chemical indicators market was estimated at USD 570.67 million in 2024 and is projected to reach approximately USD 942.03 million by 2034. Another report indicates the global sterility indicators market size was valued at USD 1.02 billion in 2023 and is projected to reach USD 2.10 billion by 2030. The global biological indicators market size was estimated at USD 572.28 million in 2025 and is projected to reach USD 1,106.24 million by 2033. For chemical indicators specifically, the global market size was estimated at USD 453.18 million in 2025 and is projected to reach USD 775.84 million by 2033. North America held a major revenue share of the biological and chemical indicators market in 2024.
  • Dental Testing and Laboratory Services: The global dental laboratories market size was estimated at USD 24.26 billion in 2025 and is projected to reach USD 40.76 billion by 2033. Another estimate for the global dental laboratories market size was USD 34.53 billion in 2024, projected to reach approximately USD 58.42 billion by 2034. North America dominated the global dental laboratories market with the largest revenue share of 37.95% in 2025.

Instruments Segment

  • Dialysate Meters: The global digital dialysate meter market size was estimated at USD 0.45 billion in 2024 and is projected to reach USD 1.20 billion by 2034. North America holds the largest share of this market, accounting for 40% of the global market in 2024.
  • Data Loggers (Temperature and Cold Chain): The global temperature data logger market is estimated to be USD 0.52 billion in 2025 and is projected to reach USD 0.70 billion by 2030. The global cold chain data loggers market size is expected to be worth around USD 2.5 billion by 2033, from USD 1.10 billion in 2023. North America held the largest market share in the cold chain data loggers market in 2023, accounting for over 34%.
  • Gas Flow Calibration and Air Sampling Equipment: Null
  • Torque Testing Systems: The global torque tester market size was valued at US$ 7.84 billion in 2022 and is expected to grow to nearly US$ 12.59 billion by 2029. Another source states the torque testers market was valued at USD 13,088.35 million in 2025 and is expected to increase to USD 20,729.98 million by 2032. The global torque sensor market size is expected to be valued at USD 7.28 billion in 2023 and is estimated to reach USD 11.88 billion by 2032.

Biopharmaceutical Development Segment

  • Automated Systems for Protein Analysis (Immunoassays): The global protein assays market is estimated to be valued at USD 2.80 billion in 2025 and is expected to reach USD 6.19 billion by 2032. The global protein detection & quantification market size reached USD 3.2 billion in 2025 and is expected to reach USD 6.1 billion by 2034. The protein diagnostics market is valued at USD 5.4 billion in 2025 and is projected to reach USD 9.3 billion by 2035. The global immunoassay market size was estimated at USD 26.83 billion in 2024 and is projected to reach USD 35.10 billion by 2030. North America dominated the protein assays market with an estimated share of 43.3% in 2025.
  • Peptide Synthesis Solutions: The global peptide synthesis market size was over USD 5.8 billion in 2025 and is estimated to reach USD 12.2 billion by 2035. Another source indicates the global peptide synthesis market size was estimated at USD 678.12 million in 2025 and is predicted to increase to USD 1,438.78 million by 2035. North America in the peptide synthesis market is anticipated to hold the largest share of 38.5% by the end of 2035.

Continuous Monitoring Segment

  • Systems for Monitoring Environmental Parameters (e.g., Temperature, Humidity, Differential Pressure): The global continuous monitoring products in the healthcare industry market was valued at US$ 4.3 billion in 2024 and is estimated to reach more than US$ 20.5 billion by the end of 2035. Another source estimates this market size to be USD 4827.1 million in 2025, projected to reach USD 15608.27007 million by 2033. North America held the largest share in 2024. The global patient monitoring devices market size is expected to reach USD 118.21 billion by 2033. North America dominated the patient monitoring systems market with the largest revenue share of 35.02% in 2024.

AI Analysis | Feedback

Mesa Laboratories (MLAB) is expected to experience future revenue growth over the next 2-3 years, driven by several key factors:

  • Growth in Biopharmaceutical Development (BPD) and Calibration Solutions (CS) segments: The Biopharmaceutical Development segment has demonstrated strong consumables revenue and growth, with delayed bookings contributing to its performance. The Calibration Solutions segment has also shown continued strength and organic growth.
  • Strong commercial execution and market stability: The company emphasizes solid commercial execution and stable market conditions in regions like Europe and North America as significant contributors to organic revenue growth. Mesa Laboratories is also focused on driving profitable market share growth.
  • Recovery and improved comparisons in the Clinical Genomics (CG) segment (excluding China): Although the Clinical Genomics market in China has faced headwinds, the company has reported double-digit growth in CG when excluding China. Management anticipates less challenging comparisons from CG China in the future, which is expected to support a positive overall trajectory.
  • Strategic price increases: Mesa Laboratories has noted that revenue growth has been partially attributed to strategic price increases.
  • Investments in high-growth opportunities: The company is actively accelerating its investments in areas identified as its highest growth opportunities.

AI Analysis | Feedback

Capital Expenditures

  • Capital expenditures in the most recent quarter totaled -$0.73 million USD.
  • Mesa Laboratories' net investment was -$4.50 million in Fiscal Year 2025.
  • The company has demonstrated a 5-year capital spending growth of 23.18%.

Better Bets vs. Mesa Laboratories (MLAB)

Peer Outperformance in Electronic Equipment & Instruments

MLAB has trailed 65% of its 26 Electronic Equipment & Instruments peers over 5Y. Among the peers that beat it are PI, KEYS and TDY. Electronic Equipment & Instruments ranks 9th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Electronic Equipment & Instruments constituents that MLAB has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
94%
of 31 industry peers · 84.8% return
3Y
39%
of 28 industry peers · -8.7% return
5Y
35%
of 26 industry peers · -52.0% return
Electronic Equipment & Instruments peers with revenue growth within 4pp of MLAB's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
MLAB Mesa Laboratories 4.5% 149.9x 84.8%-8.7%-52.0%
PI Impinj 5.6% -179.8x -11.0%160.7%166.2% +218pp
KEYS Keysight Technologies 3.5% 52.2x 95.8%149.1%81.3% +133pp
TDY Teledyne Technologies 4.5% 30.1x 16.3%55.1%38.1% +90pp
ITRI Itron 6.8% 15.9x -20.3%46.7%15.3% +67pp
NOVT Novanta 5.0% 95.6x 22.0%-7.3%-4.7% +47pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Information Technology sector, ranked by 5Y. Electronic Equipment & Instruments is MLAB's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 9 60.9%202.9%332.0% TTMI 762% · FLEX 713% · JBL 409%
Semiconductor Materials & Equipment 27 140.9%76.3%102.3% AEHR 1112% · AXTI 599% · KLAC 463%
Technology Distributors 9 26.7%58.8%68.8% CLMB 327% · AVT 149% · SNX 111%
Electronic Components 26 54.7%60.2%51.9% CLS 3128% · BELFA 1299% · LPTH 491%
Communications Equipment 35 30.2%85.7%37.3% AAOI 1458% · LITE 980% · ANET 768%
Semiconductors 54 29.9%31.4%26.6% POET 1884% · MU 1200% · NVDA 829%
Technology Hardware, Storage & Peripherals 22 35.0%85.7%21.8% STX 1038% · SMCI 946% · DELL 945%
Internet Services & Infrastructure 6 17.8%39.3%12.6% DOCN 92% · VRSN 39% · GDDY 29%
Electronic Equipment & Instruments ← 27 -7.3%10.9%-5.4% PI 166% · ACFN 144% · OSIS 114%
IT Consulting & Other Services 28 -26.0%-6.4%-21.0% CHRN 556479% · APLD 988% · TSSI 674%
Application Software 123 -19.8%-12.0%-45.7% VIDA 263900% · INLX 5061% · PLTR 590%
Systems Software 69 -9.2%11.7%-55.4% QNC 713% · PAYS 425% · PANW 341%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MLABMVISKEYSROPTDYZBRAMedian
NameMesa Lab.Microvis.Keysight.Roper Te.Teledyne.Zebra Te. 
Mkt Price127.151.85321.87413.28633.56359.84340.86
Mkt Cap0.70.055.041.529.317.223.3
Rev LTM25036,0888,2806,3745,8475,968
Op Inc LTM22-891,1062,3161,2409701,038
FCF LTM53-681,3572,5611,1429041,023
FCF 3Y Avg43-671,1982,3041,017733875
CFO LTM56-671,4892,6691,2719791,125
CFO 3Y Avg46-671,3412,4161,125808966

Growth & Margins

MLABMVISKEYSROPTDYZBRAMedian
NameMesa Lab.Microvis.Keysight.Roper Te.Teledyne.Zebra Te. 
Rev Chg LTM3.0%11.1%19.2%10.9%7.9%12.7%11.0%
Rev Chg 3Y Avg4.5%216.8%3.5%12.7%4.5%3.7%4.5%
Rev Chg Q1.0%850.3%31.5%8.5%9.8%20.4%15.1%
QoQ Delta Rev Chg LTM0.2%84.8%7.2%2.0%2.4%4.7%3.6%
Op Inc Chg LTM62.6%-43.8%28.6%10.5%12.9%19.9%16.4%
Op Inc Chg 3Y Avg47.2%-12.7%-5.1%12.2%6.9%13.4%9.5%
Op Mgn LTM9.0%-3,083.3%18.2%28.0%19.4%16.6%17.4%
Op Mgn 3Y Avg6.2%-2,163.1%18.6%28.2%18.8%14.4%16.5%
QoQ Delta Op Mgn LTM1.6%1,996.3%2.2%-0.1%0.4%1.8%1.7%
CFO/Rev LTM22.3%-2,349.6%24.5%32.2%19.9%16.7%21.1%
CFO/Rev 3Y Avg19.3%-1,787.9%24.6%32.5%18.9%15.5%19.1%
FCF/Rev LTM21.2%-2,378.2%22.3%30.9%17.9%15.5%19.5%
FCF/Rev 3Y Avg17.9%-1,805.6%22.0%31.0%17.1%14.0%17.5%

Valuation

MLABMVISKEYSROPTDYZBRAMedian
NameMesa Lab.Microvis.Keysight.Roper Te.Teledyne.Zebra Te. 
Mkt Cap0.70.055.041.529.317.223.3
P/S2.914.49.05.04.62.94.8
P/Op Inc32.0-0.549.817.923.717.720.8
P/EBIT35.6-0.442.712.323.620.422.0
P/E149.9-0.452.216.630.131.931.0
P/CFO12.9-0.637.015.523.117.516.5
Total Yield1.2%-276.9%1.9%6.9%3.3%3.1%2.5%
Dividend Yield0.5%0.0%0.0%0.9%0.0%0.0%0.0%
FCF Yield 3Y Avg8.3%-583.8%3.6%4.9%4.3%5.1%4.6%
D/E0.21.10.10.30.10.20.2
Net D/E0.20.40.00.30.10.20.2

Returns

MLABMVISKEYSROPTDYZBRAMedian
NameMesa Lab.Microvis.Keysight.Roper Te.Teledyne.Zebra Te. 
1M Rtn30.1%522.5%2.6%10.2%-2.8%36.0%20.1%
3M Rtn40.3%189.2%-7.4%30.9%3.4%42.5%35.6%
6M Rtn34.2%120.0%6.5%20.7%-6.5%50.6%27.4%
12M Rtn84.8%65.2%95.8%-20.5%16.3%12.2%40.7%
3Y Rtn-8.7%-24.8%149.1%-14.8%55.1%34.1%12.7%
1M Excs Rtn22.4%519.2%2.1%2.4%-5.8%23.2%12.4%
3M Excs Rtn38.2%187.1%-9.5%28.8%1.4%40.4%33.5%
6M Excs Rtn23.7%109.5%-4.0%10.2%-17.0%40.1%16.9%
12M Excs Rtn58.6%52.1%75.5%-40.6%-2.1%-6.6%25.0%
3Y Excs Rtn-80.0%-103.8%73.9%-87.7%-17.8%-40.0%-60.0%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20262025202420232022
Sterilization and Disinfection Control10293756559
Calibration Solutions5452484547
Biopharmaceutical Development4949414746
Clinical Genomics4547536233
Corporate and Other0000 
Total249241216219184


Operating Income by Segment
$ Mil20122011
Instrumentation Products76
Biological Indicators64
Total1210


Assets by Segment
$ Mil20202019201820172016
Biopharmaceutical Development183    
Cold Chain Packaging1042720 
Sterilization and Disinfection Control73748367 
Instruments3131334149
Continuous Monitoring3032313627
Corporate and Other 1898 
Biological Indicators    57
Cold Chain    20
Corporate and administrative    8
Total420157164172161


Price Behavior

Price Behavior
Market Price$127.15 
Market Cap ($ Bil)0.7 
First Trading Date08/18/1995 
Distance from 52W High-0.2% 
   50 Days200 Days
DMA Price$102.96$92.61
DMA Trendupup
Distance from DMA23.5%37.3%
 3M1YR
Volatility58.4%55.9%
Downside Capture71.97130.16
Upside Capture224.70174.88
Correlation (SPY)17.5%29.6%
MLAB Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta0.570.750.991.021.571.46
Up Beta1.07-1.41-1.150.091.361.46
Down Beta0.551.781.231.091.141.21
Up Capture54%101%152%177%274%301%
Bmk +ve Days11223567138427
Stock +ve Days12233270132377
Down Capture37%101%159%116%146%110%
Bmk -ve Days11212859114326
Stock -ve Days10203156118373

[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 MLAB
MLAB78.2%56.0%1.23-
Sector ETF (XLK)40.4%26.0%1.2718.4%
Equity (SPY)20.3%12.8%1.1829.5%
Gold (GLD)36.2%28.8%1.0620.2%
Commodities (DBC)37.6%20.3%1.46-6.5%
Real Estate (VNQ)11.8%13.6%0.5723.1%
Bitcoin (BTCUSD)-28.6%43.6%-0.6516.1%

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 MLAB
MLAB-13.8%50.5%-0.11-
Sector ETF (XLK)20.0%25.9%0.6931.7%
Equity (SPY)13.2%17.2%0.5939.1%
Gold (GLD)20.3%18.7%0.8913.4%
Commodities (DBC)10.4%19.6%0.413.4%
Real Estate (VNQ)2.5%18.9%0.0336.1%
Bitcoin (BTCUSD)12.0%52.7%0.4119.2%

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 MLAB
MLAB2.4%43.7%0.21-
Sector ETF (XLK)24.1%25.0%0.8832.3%
Equity (SPY)15.2%17.9%0.7237.3%
Gold (GLD)12.6%16.3%0.649.2%
Commodities (DBC)7.4%18.0%0.337.7%
Real Estate (VNQ)5.1%20.7%0.2131.2%
Bitcoin (BTCUSD)63.5%66.1%1.0312.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 73120264.2%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest2.0 days
Basic Shares Quantity5.7 Mil
Short % of Basic Shares6.0%

Earnings Returns History

Updated 8/19/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/10/20269.5%5.9% 
5/27/2026-14.5%0.6%-7.4%
2/3/20268.7%12.8%15.5%
11/6/20251.5%1.3%4.2%
8/5/2025-24.9%-20.9%-19.6%
5/28/2025-8.9%-11.4%-14.7%
2/4/20252.5%15.6%2.8%
11/7/2024-12.1%-19.7%-7.4%
...
SUMMARY STATS   
# Positive121210
# Negative131314
Median Positive4.2%5.8%11.4%
Median Negative-3.7%-8.4%-7.0%
Max Positive15.3%32.0%39.2%
Max Negative-24.9%-20.9%-19.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/10/20269.5%5.9% 
5/27/2026-14.5%0.6%-7.4%
2/3/20268.7%12.8%15.5%
11/6/20251.5%1.3%4.2%
8/5/2025-24.9%-20.9%-19.6%
5/28/2025-8.9%-11.4%-14.7%
2/4/20252.5%15.6%2.8%
11/7/2024-12.1%-19.7%-7.4%
8/5/2024-2.0%11.8%16.9%
6/5/202413.2%0.9%-3.4%
2/5/20245.6%-0.2%18.5%
11/6/2023-1.4%-8.8%2.1%
8/3/20235.2%9.3%13.9%
5/25/2023-2.0%-10.8%-11.4%
2/6/2023-9.1%-8.6%-13.4%
11/3/202215.3%32.0%39.2%
8/4/2022-4.1%-8.4%-16.6%
5/31/2022-3.7%-3.0%-6.7%
2/3/2022-3.2%-2.9%-5.7%
11/4/20210.6%2.4%-0.1%
8/5/20211.8%-2.6%-5.7%
6/1/20213.1%5.8%9.0%
2/3/2021-0.5%-1.6%-4.7%
11/5/20200.6%2.2%2.1%
8/6/2020-2.7%-0.3%-0.9%
SUMMARY STATS   
# Positive121210
# Negative131314
Median Positive4.2%5.8%11.4%
Median Negative-3.7%-8.4%-7.0%
Max Positive15.3%32.0%39.2%
Max Negative-24.9%-20.9%-19.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202606/03/202610-K
12/31/202502/03/202610-Q
09/30/202511/06/202510-Q
06/30/202508/05/202510-Q
03/31/202505/28/202510-K
12/31/202402/04/202510-Q
09/30/202411/07/202410-Q
06/30/202408/05/202410-Q
03/31/202406/28/202410-K
12/31/202302/05/202410-Q
09/30/202311/06/202310-Q
06/30/202308/03/202310-Q
03/31/202305/30/202310-K
12/31/202202/06/202310-Q
09/30/202211/03/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202606/03/202610-K
12/31/202502/03/202610-Q
09/30/202511/06/202510-Q
06/30/202508/05/202510-Q
03/31/202505/28/202510-K
12/31/202402/04/202510-Q
09/30/202411/07/202410-Q
06/30/202408/05/202410-Q
03/31/202406/28/202410-K
12/31/202302/05/202410-Q
09/30/202311/06/202310-Q
06/30/202308/03/202310-Q
03/31/202305/30/202310-K
12/31/202202/06/202310-Q
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/31/202210-K
12/31/202102/03/202210-Q
09/30/202111/04/202110-Q
06/30/202108/05/202110-Q
03/31/202106/01/202110-K
12/31/202002/03/202110-Q
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202006/01/202010-K
12/31/201902/10/202010-Q
09/30/201911/06/201910-Q

Insider Activity

Updated 6/23/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Crennen, Lyndsey ElizabethCAODirectSell623202689.5044239,560180,794Form
2Archbold, Brian DavidSVP OperationsDirectSell623202689.502,516225,187570,754Form
3Sakys, JohnCFODirectSell623202689.502,827253,0221,770,797Form
4Archbold, Brian DavidSVP OperationsDirectSell6172026101.271,151116,558375,701Form
5Crennen, Lyndsey ElizabethCAODirectSell6172026101.2711811,950149,166Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Crennen, Lyndsey ElizabethCAODirectSell623202689.5044239,560180,794Form
2Archbold, Brian DavidSVP OperationsDirectSell623202689.502,516225,187570,754Form
3Sakys, JohnCFODirectSell623202689.502,827253,0221,770,797Form
4Archbold, Brian DavidSVP OperationsDirectSell6172026101.271,151116,558375,701Form
5Crennen, Lyndsey ElizabethCAODirectSell6172026101.2711811,950149,166Form
6Sakys, JohnCFODirectSell6172026101.271,223123,8501,674,754Form
7Ladiwala, Shiraz Shabanali DirectBuy310202672.233,500252,805615,616Form
8Capone, Mark Christopher DirectBuy310202676.351,30199,331261,804Form
9Tripeny, R Tony DirectBuy310202676.001,31599,940410,248Form
10Owens, Gary MPresident and CEODirectSell618202597.121,939188,3124,450,335Form
11Archbold, Brian DavidSVP OperationsDirectSell618202597.1247245,84054,192Form
12Sakys, JohnCFODirectSell618202597.1264262,3501,249,423Form
Core Cache Last Updated: 8/26/2026