NASDAQ : IDXX
IDEXX Laboratories, Inc. — Financial statements
Healthcare · Diagnostics & Research · United States
Last price 551.21 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 43.42B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
IDEXX Laboratories, Inc. (IDXX) reported revenue of 4.55B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.55B | 4.30B | 3.90B | 3.66B | 3.37B | 3.22B |
| Cost of Revenue | 1.71B | 1.64B | 1.52B | 1.47B | 1.36B | 1.33B |
| Gross Profit | 2.84B | 2.66B | 2.38B | 2.19B | 2.00B | 1.89B |
| Selling, General & Admin | 1.11B | 1.05B | 969.30M | 901.89M | 850.75M | 796.39M |
| Research & Development | 261.46M | 251.21M | 219.79M | 190.95M | 254.82M | 161.01M |
| Operating Expenses | 1.38B | 1.30B | 1.19B | 1.09B | 1.11B | 957.40M |
| Operating Income | 1.47B | 1.36B | 1.19B | 1.10B | 898.76M | 932.03M |
| Interest Expense | -37.79M | -38.85M | -31.20M | -41.58M | -39.86M | -29.81M |
| Interest & Investment Income | 2.37M | 3.01M | 12.70M | 5.63M | 1.06M | 434.00K |
| EBT Excluding Unusual Items | 1.43B | 1.32B | 1.17B | 1.06B | 859.97M | 902.65M |
| Legal Settlements | -9.00M | -61.50M | ||||
| Pretax Income | 1.42B | 1.32B | 1.11B | 1.06B | 859.97M | 902.65M |
| Income Tax Expense | 284.76M | 264.73M | 221.96M | 216.13M | 180.88M | 157.81M |
| Earnings From Continuing Operations | 1.14B | 1.06B | 887.87M | 845.04M | 679.09M | 744.84M |
| Minority Interest in Earnings | 1.00K | |||||
| Net Income | 1.14B | 1.06B | 887.87M | 845.04M | 679.09M | 744.85M |
| Net Income to Common | 1.14B | 1.06B | 887.87M | 845.04M | 679.09M | 744.85M |
| Shares Outstanding (Basic) | 79.64M | 80.43M | 82.47M | 83.07M | 83.62M | 85.20M |
| Shares Outstanding (Diluted) | 80.16M | 81.03M | 83.25M | 83.98M | 84.60M | 86.57M |
| EPS (Basic) | 14.31 | 13.17 | 10.77 | 10.17 | 8.12 | 8.74 |
| EPS (Diluted) | 14.22 | 13.08 | 10.67 | 10.06 | 8.03 | 8.60 |
| Free Cash Flow | 1.25B | 1.06B | 808.08M | 772.88M | 394.15M | 636.00M |
| Free Cash Flow Per Share | 15.65 | 13.05 | 9.71 | 9.20 | 4.66 | 7.35 |
| Gross Margin | 62.45% | 61.80% | 61.04% | 59.82% | 59.52% | 58.76% |
| Operating Margin | 32.23% | 31.60% | 30.53% | 29.97% | 26.69% | 28.99% |
| Profit Margin | 25.03% | 24.62% | 22.78% | 23.08% | 20.17% | 23.16% |
| Free Cash Flow Margin | 27.55% | 24.56% | 20.73% | 21.11% | 11.71% | 19.78% |
| EBITDA | 1.62B | 1.51B | 1.32B | 1.21B | 1.01B | 1.04B |
| EBITDA Margin | 35.62% | 34.98% | 33.86% | 33.11% | 30.01% | 32.24% |
| D&A For EBITDA | 154.08M | 145.18M | 129.94M | 114.91M | 111.90M | 104.60M |
| EBIT | 1.47B | 1.36B | 1.19B | 1.10B | 898.76M | 932.03M |
| EBIT Margin | 32.23% | 31.60% | 30.53% | 29.97% | 26.69% | 28.99% |
| Effective Tax Rate | 19.99% | 19.99% | 20.00% | 20.37% | 21.03% | 17.48% |
| Revenue as Reported | 4.55B | 4.30B | 3.90B | 3.66B | 3.37B | 3.22B |
| Advertising Expenses | 4.00M | 3.40M | 4.20M | 5.00M | 3.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 196.93M | 180.07M | 288.27M | 453.93M | 112.55M | 144.45M |
| Cash & Short-Term Investments | 196.93M | 180.07M | 288.27M | 453.93M | 112.55M | 144.45M |
| Accounts Receivable | 709.36M | 628.21M | 534.33M | 512.56M | 442.47M | 406.12M |
| Other Receivables | 32.31M | 64.98M | 26.99M | 16.97M | 48.43M | 19.46M |
| Receivables | 741.67M | 693.19M | 561.32M | 529.53M | 490.90M | 425.58M |
| Inventory | 391.58M | 377.76M | 381.88M | 380.28M | 367.82M | 269.03M |
| Prepaid Expenses | 61.96M | 57.90M | 58.63M | 48.37M | 41.74M | 42.00M |
| Other Current Assets | 117.35M | 104.91M | 109.81M | 83.14M | 88.46M | 74.59M |
| Total Current Assets | 1.51B | 1.41B | 1.40B | 1.50B | 1.10B | 955.65M |
| Property, Plant & Equipment | 856.00M | 870.61M | 829.25M | 817.68M | 768.09M | 692.77M |
| Long-Term Investments | 28.79M | 31.76M | 31.00M | 30.25M | 30.25M | 5.25M |
| Goodwill | 410.95M | 414.00M | 405.10M | 365.96M | 361.80M | 359.35M |
| Other Intangible Assets | 98.17M | 109.84M | 111.68M | 84.50M | 97.67M | 99.03M |
| Long-Term Accounts Receivable | 250.36M | 236.91M | 185.51M | 167.96M | 148.97M | 122.16M |
| Long-Term Deferred Tax Assets | 22.67M | 27.87M | 125.63M | 107.36M | 55.22M | 24.78M |
| Long-Term Deferred Charges | 122.41M | |||||
| Other Long-Term Assets | 265.90M | 245.94M | 205.38M | 190.96M | 183.29M | 55.80M |
| Total Assets | 3.44B | 3.35B | 3.29B | 3.26B | 2.75B | 2.44B |
| Accounts Payable | 129.10M | 110.41M | 114.21M | 110.64M | 110.22M | 116.14M |
| Accrued Expenses | 350.35M | 414.40M | 418.33M | 372.36M | 364.69M | 395.77M |
| Short-Term Debt | 519.00M | 398.00M | 250.00M | 250.00M | 579.00M | 73.50M |
| Current Portion of Long-Term Debt | 150.00M | 75.00M | 167.79M | 75.00M | 74.98M | 75.00M |
| Current Portion of Leases | 26.71M | 27.07M | 21.54M | 19.80M | 20.43M | 19.93M |
| Current Income Taxes Payable | 76.10M | 88.67M | 62.25M | 86.55M | 48.55M | 42.60M |
| Current Unearned Revenue | 36.40M | 35.26M | 33.80M | 37.20M | 37.94M | 40.03M |
| Other Current Liabilities | 601.00K | |||||
| Total Current Liabilities | 1.29B | 1.15B | 1.07B | 951.55M | 1.24B | 763.58M |
| Long-Term Debt | 299.87M | 375.29M | 449.79M | 622.88M | 694.39M | 775.21M |
| Long-Term Leases | 100.50M | 101.15M | 97.84M | 99.67M | 101.24M | 87.38M |
| Long-Term Unearned Revenue | 32.59M | 32.18M | 26.94M | 28.53M | 30.86M | 41.17M |
| Long-Term Deferred Tax Liabilities | 52.64M | 31.86M | 11.31M | 7.24M | 8.15M | 8.94M |
| Other Long-Term Liabilities | 56.50M | 56.08M | 44.34M | 65.53M | 67.59M | 70.94M |
| Total Liabilities | 1.83B | 1.75B | 1.70B | 1.78B | 2.14B | 1.75B |
| Common Stock | 10.87M | 10.84M | 10.78M | 10.75M | 10.72M | 10.69M |
| Additional Paid-In Capital | 1.91B | 1.83B | 1.67B | 1.57B | 1.46B | 1.38B |
| Retained Earnings | 7.01B | 6.39B | 5.33B | 4.44B | 3.60B | 2.92B |
| Treasury Stock | -7.26B | -6.56B | -5.33B | -4.47B | -4.39B | -3.57B |
| Comprehensive Income & Other | -57.60M | -62.75M | -87.76M | -65.68M | -72.61M | -47.77M |
| Total Common Equity | 1.61B | 1.61B | 1.60B | 1.48B | 608.74M | 689.99M |
| Shareholders' Equity | 1.61B | 1.61B | 1.60B | 1.48B | 608.74M | 689.99M |
| Total Liabilities & Equity | 3.44B | 3.35B | 3.29B | 3.26B | 2.75B | 2.44B |
| Total Debt | 1.10B | 976.51M | 986.95M | 1.07B | 1.47B | 1.03B |
| Net Cash (Debt) | -899.15M | -796.44M | -698.68M | -613.42M | -1.36B | -886.55M |
| Net Cash Per Share | -11.22 | -9.83 | -8.39 | -7.30 | -16.05 | -10.24 |
| Filing Date Shares Outstanding | 78.78M | 79.62M | 81.33M | 83.09M | 82.90M | 84.25M |
| Total Common Shares Outstanding | 78.87M | 79.71M | 81.60M | 83.03M | 82.89M | 84.56M |
| Working Capital | 221.82M | 265.01M | 331.98M | 543.71M | -134.33M | 192.08M |
| Book Value Per Share | 20.44 | 20.14 | 19.55 | 17.88 | 7.34 | 8.16 |
| Tangible Book Value | 1.10B | 1.08B | 1.08B | 1.03B | 149.27M | 231.61M |
| Tangible Book Value Per Share | 13.99 | 13.57 | 13.22 | 12.45 | 1.80 | 2.74 |
| Land | 24.64M | 23.99M | 22.40M | 22.22M | 22.64M | |
| Buildings | 462.39M | 446.16M | 432.04M | 356.05M | 329.09M | |
| Machinery | 991.76M | 891.00M | 837.15M | 772.56M | 728.74M | |
| Construction In Progress | 68.98M | 67.14M | 79.06M | 97.31M | 62.34M | |
| Leasehold Improvements | 125.30M | 119.84M | 116.35M | 107.25M | 93.25M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.14B | 1.06B | 887.87M | 845.04M | 679.09M | 744.85M |
| Depreciation & Amortization | 154.08M | 145.18M | 129.94M | 114.91M | 111.90M | 104.60M |
| Asset Writedown & Restructuring Costs | 2.35M | 5.15M | ||||
| Loss (Gain) From Sale of Investments | 5.00M | |||||
| Stock-Based Compensation | 62.97M | 60.01M | 60.30M | 59.74M | 49.77M | 37.76M |
| Provision & Write-off of Bad Debts | 10.34M | 8.43M | 6.87M | 5.55M | 5.83M | 1.48M |
| Other Operating Activities | 149.12M | 136.23M | -22.73M | -46.30M | -32.42M | -759.00K |
| Change in Accounts Receivable | -76.68M | -68.72M | -28.28M | -53.87M | -41.40M | -33.14M |
| Change in Inventory | 1.50M | -789.00K | -28.00M | -28.65M | -121.73M | -52.92M |
| Change in Accounts Payable | 8.02M | -8.57M | 8.09M | -557.00K | 3.47M | 11.23M |
| Change in Unearned Revenue | 6.93M | 6.93M | -4.38M | -3.03M | -11.02M | -7.55M |
| Change in Other Net Operating Assets | -89.44M | -156.36M | -80.67M | 13.68M | -102.85M | -55.15M |
| Operating Cash Flow | 1.37B | 1.18B | 929.00M | 906.51M | 542.98M | 755.55M |
| Capital Expenditures | -117.18M | -124.68M | -120.92M | -133.63M | -148.84M | -119.55M |
| Cash Acquisitions | -76.69M | -11.51M | -173.42M | |||
| Sale (Purchase) of Intangibles | -17.24M | -13.55M | -10.00M | -10.00M | ||
| Investment in Securities | -1.55M | -756.00K | -1.00M | -25.00M | ||
| Other Investing Activities | 3.93M | 2.74M | 1.56M | 8.38M | ||
| Investing Cash Flow | -132.04M | -136.24M | -207.06M | -125.25M | -195.35M | -292.97M |
| Short-Term Debt Issued | 148.00M | 505.50M | 73.50M | |||
| Long-Term Debt Issued | 250.00M | |||||
| Total Debt Issued | 190.00M | 398.00M | 505.50M | 73.50M | ||
| Short-Term Debt Repaid | -329.00M | |||||
| Long-Term Debt Repaid | -428.38M | -75.00M | -75.00M | -75.00M | -50.00M | |
| Total Debt Repaid | -325.00M | -428.38M | -75.00M | -404.00M | -75.00M | -50.00M |
| Net Debt Issued (Repaid) | -135.00M | -30.39M | -75.00M | -404.00M | 430.50M | 23.50M |
| Issuance of Common Stock | 119.91M | 93.36M | 44.49M | 47.03M | 35.75M | 46.56M |
| Repurchase of Common Stock | -1.19B | -1.22B | -847.57M | -81.89M | -830.32M | -762.34M |
| Other Financing Activities | -3.74M | -3.74M | -3.13M | -6.87M | -5.14M | |
| Financing Cash Flow | -1.21B | -1.16B | -878.07M | -442.00M | -370.94M | -697.41M |
| Foreign Exchange Rate Adjustments | -1.50M | 11.20M | -9.53M | 2.13M | -8.61M | -4.64M |
| Net Cash Flow | 32.34M | -108.20M | -165.67M | 341.39M | -31.91M | -239.47M |
| Free Cash Flow | 1.25B | 1.06B | 808.08M | 772.88M | 394.15M | 636.00M |
| Free Cash Flow Margin | 27.55% | 24.56% | 20.73% | 21.11% | 11.71% | 19.78% |
| Free Cash Flow Per Share | 15.65 | 13.05 | 9.71 | 9.20 | 4.66 | 7.35 |
| Levered Free Cash Flow | 909.37M | 790.74M | 734.99M | 693.69M | 328.16M | 534.41M |
| Unlevered Free Cash Flow | 932.99M | 815.02M | 754.49M | 719.68M | 353.07M | 553.04M |
| Cash Interest Paid | 37.70M | 37.70M | 33.80M | 41.00M | 40.30M | 30.50M |
| Cash Income Tax Paid | 137.20M | 167.50M | 307.20M | 192.50M | 239.80M | 161.70M |
| Change in Working Capital | -149.66M | -227.51M | -133.24M | -72.43M | -273.53M | -137.52M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 43.42B | 54.02B | 33.85B | 46.10B | 33.79B | 55.83B |
| Enterprise Value | 44.32B | 54.93B | 34.54B | 46.91B | 35.19B | 56.65B |
| Last Close Price | 551.21 | 676.53 | 413.44 | 555.05 | 407.96 | 658.46 |
| PE Ratio | 38.76 | 50.99 | 38.13 | 54.55 | 49.75 | 74.96 |
| Forward PE | 35.13 | 48.03 | 35.35 | 51.92 | 44.25 | 73.77 |
| PS Ratio | 9.54 | 12.55 | 8.69 | 12.59 | 10.03 | 17.36 |
| PB Ratio | 26.96 | 33.65 | 21.22 | 31.05 | 55.50 | 80.92 |
| P/TBV Ratio | 39.35 | 49.95 | 31.39 | 44.58 | 226.34 | 241.06 |
| P/FCF Ratio | 34.62 | 51.10 | 41.90 | 59.64 | 85.72 | 87.79 |
| P/OCF Ratio | 31.66 | 45.71 | 36.44 | 50.85 | 62.22 | 73.90 |
| PEG Ratio | 2.34 | 3.24 | 2.55 | 2.74 | 1.91 | 2.87 |
| EV/Sales Ratio | 9.73 | 12.76 | 8.86 | 12.81 | 10.45 | 17.62 |
| EV/EBITDA Ratio | 27.33 | 36.49 | 26.17 | 38.70 | 34.82 | 54.65 |
| EV/EBIT Ratio | 30.20 | 40.39 | 29.03 | 42.75 | 39.16 | 60.78 |
| EV/FCF Ratio | 35.34 | 51.96 | 42.75 | 60.69 | 89.29 | 89.08 |
| Debt / Equity Ratio | 0.68 | 0.61 | 0.62 | 0.72 | 2.42 | 1.49 |
| Debt / EBITDA Ratio | 0.66 | 0.63 | 0.73 | 0.86 | 1.41 | 0.97 |
| Debt / FCF Ratio | 0.87 | 0.92 | 1.22 | 1.38 | 3.73 | 1.62 |
| Net Debt / Equity Ratio | 0.56 | 0.50 | 0.44 | 0.41 | 2.23 | 1.28 |
| Net Debt / EBITDA Ratio | 0.55 | 0.53 | 0.53 | 0.51 | 1.34 | 0.85 |
| Net Debt / FCF Ratio | 0.72 | 0.75 | 0.86 | 0.79 | 3.44 | 1.39 |
| Asset Turnover | 1.34 | 1.29 | 1.19 | 1.22 | 1.30 | 1.36 |
| Inventory Turnover | 4.36 | 4.33 | 3.98 | 3.93 | 4.28 | 5.54 |
| Quick Ratio | 0.73 | 0.76 | 0.80 | 1.03 | 0.49 | 0.75 |
| Current Ratio | 1.17 | 1.23 | 1.31 | 1.57 | 0.89 | 1.25 |
| Return on Equity (ROE) | 74.21% | 66.20% | 57.66% | 80.74% | 104.58% | 112.62% |
| Return on Assets (ROA) | 27.08% | 25.59% | 22.70% | 22.83% | 21.67% | 24.62% |
| Return on Invested Capital (ROIC) | 47.23% | 46.34% | 43.35% | 42.99% | 40.07% | 54.38% |
| Return on Capital Employed (ROCE) | 68.10% | 61.80% | 53.50% | 47.50% | 59.50% | 55.70% |
| Earnings Yield | 2.58% | 1.96% | 2.62% | 1.83% | 2.01% | 1.33% |
| FCF Yield | 2.89% | 1.96% | 2.39% | 1.68% | 1.17% | 1.14% |
| Buyback Yield / Dilution | 2.40% | 2.67% | 0.87% | 0.73% | 2.28% | 0.17% |