How Does IDEXX Laboratories Stock Compare With Peers?
IDEXX Laboratories’ stock has significantly outperformed many peers over the past year, but how does its premium valuation truly measure up against other animal health leaders? A closer look reveals robust revenue growth and strong profitability, supporting its leadership in diagnostics. However, a notably high P/E ratio suggests limited upside potential unless sustained innovation and market expansion continue at an exceptional pace.
- IDXX’s 31.3% operating margin reflects strong diagnostics pricing power, yet trails ZTS’s 37.6% due to ZTS’s higher-margin companion animal product mix.
- IDXX’s 8.4% revenue growth, outpacing peers, reflects strong diagnostics demand, but lags PAHC, which benefits from broader distribution and dental/animal health market gains.
- IDXX’s 78.9% stock gain and 59.8 PE show high investor confidence in diagnostics innovation, while PAHC’s stronger returns stem from distribution gains and strategic M&A.
Here’s how IDEXX Laboratories stacks up across size, valuation, and profitability versus key peers.
| IDXX | MRK | ZTS | ELAN | PAHC | |
|---|---|---|---|---|---|
| Market Cap ($ Bil) | 61.4 | 263.6 | 56.6 | 11.6 | 1.8 |
| Revenue ($ Bil) | 4.2 | 64.2 | 9.4 | 4.6 | 1.4 |
| PE Ratio | 59.8 | 13.9 | 21.4 | 323.3 | 26.4 |
| LTM Revenue Growth | 8.4% | 1.7% | 2.7% | 3.1% | 33.7% |
| LTM Operating Margin | 31.3% | 34.9% | 37.6% | 5.2% | 10.3% |
| LTM FCF Margin | 22.6% | 20.3% | 23.8% | 7.7% | 2.4% |
| 12M Market Return | 78.9% | 8.3% | -27.5% | 75.0% | 86.5% |
For more details on IDEXX Laboratories, read Buy or Sell IDXX Stock. Below we compare IDXX’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| IDXX | 8.4% | – | 6.5% | 8.7% | 4.7% |
| MRK | 1.7% | – | 6.7% | 1.4% | 21.7% |
| ZTS | 2.7% | – | 8.3% | 5.7% | 3.9% |
| ELAN | 3.1% | – | 0.5% | 0.1% | -7.4% |
| PAHC | 33.7% | 27.4% | 4.1% | 3.8% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| IDXX | 31.3% | – | 29.0% | 30.0% | 26.7% |
| MRK | 34.9% | – | 31.5% | 4.9% | 30.8% |
| ZTS | 37.6% | – | 36.6% | 35.9% | 36.2% |
| ELAN | 5.2% | – | 5.7% | 7.4% | 8.7% |
| PAHC | 10.3% | 8.5% | 5.2% | 7.3% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| IDXX | 59.8 | – | 38.4 | 54.6 | 50.2 |
| MRK | 13.9 | – | 14.7 | 757.8 | 19.3 |
| ZTS | 21.4 | – | 29.8 | 38.8 | 32.5 |
| ELAN | 323.3 | – | 17.7 | -6.0 | -76.5 |
| PAHC | 26.4 | 17.6 | 194.1 | 16.7 |
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