NASDAQ : MLAB
Mesa Laboratories, Inc. — Financial statements
Technology · Scientific & Technical Instruments · United States
Last price 133.03 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 744.42M
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Financial statements
Mesa Laboratories, Inc. (MLAB) reported revenue of 249.72M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 249.72M | 249.13M | 240.98M | 216.19M | 219.08M | 184.34M |
| Cost of Revenue | 89.38M | 90.86M | 88.88M | 81.71M | 85.39M | 75.25M |
| Gross Profit | 160.34M | 158.27M | 152.10M | 134.48M | 133.69M | 109.09M |
| Selling, General & Admin | 117.82M | 119.45M | 115.02M | 111.49M | 109.88M | 88.62M |
| Research & Development | 20.05M | 20.31M | 19.52M | 19.30M | 20.49M | 15.77M |
| Operating Expenses | 137.87M | 139.76M | 134.53M | 130.79M | 130.37M | 104.39M |
| Operating Income | 22.48M | 18.51M | 17.57M | 3.69M | 3.32M | 4.70M |
| Interest Expense | -10.86M | -10.69M | -11.86M | -5.70M | -4.77M | -3.88M |
| Currency Exchange Gain (Loss) | -6.46M | |||||
| Other Non Operating Income (Expenses) | 4.20M | 4.20M | -1.40M | 2.12M | 1.06M | 2.76M |
| EBT Excluding Unusual Items | 9.36M | 12.01M | 4.31M | 114.00K | -389.00K | 3.57M |
| Merger & Restructuring Charges | -1.23M | -1.23M | ||||
| Impairment of Goodwill | -156.89M | |||||
| Asset Writedown | -117.64M | |||||
| Other Unusual Items | 2.89M | |||||
| Pretax Income | 9.36M | 12.01M | 5.96M | -275.65M | -389.00K | 3.57M |
| Income Tax Expense | 4.55M | 5.30M | 7.93M | -21.40M | -1.32M | 1.70M |
| Net Income | 4.80M | 6.71M | -1.97M | -254.25M | 930.00K | 1.87M |
| Net Income to Common | 4.80M | 6.71M | -1.97M | -254.25M | 930.00K | 1.87M |
| Shares Outstanding (Basic) | 5.56M | 5.51M | 5.42M | 5.39M | 5.32M | 5.21M |
| Shares Outstanding (Diluted) | 5.62M | 5.57M | 5.42M | 5.39M | 5.36M | 5.33M |
| EPS (Basic) | 0.86 | 1.22 | -0.36 | -47.20 | 0.17 | 0.36 |
| EPS (Diluted) | 0.86 | 1.21 | -0.36 | -47.20 | 0.17 | 0.35 |
| Free Cash Flow | 52.87M | 39.58M | 42.56M | 41.57M | 23.44M | 34.79M |
| Free Cash Flow Per Share | 9.41 | 7.11 | 7.85 | 7.72 | 4.37 | 6.52 |
| Dividend Per Share | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
| Gross Margin | 64.21% | 63.53% | 63.12% | 62.20% | 61.02% | 59.18% |
| Operating Margin | 9.00% | 7.43% | 7.29% | 1.70% | 1.52% | 2.55% |
| Profit Margin | 1.92% | 2.69% | -0.82% | -117.61% | 0.43% | 1.01% |
| Free Cash Flow Margin | 21.17% | 15.89% | 17.66% | 19.23% | 10.70% | 18.87% |
| EBITDA | 45.44M | 41.78M | 42.09M | 35.26M | 36.45M | 29.77M |
| EBITDA Margin | 18.20% | 16.77% | 17.47% | 16.31% | 16.64% | 16.15% |
| D&A For EBITDA | 22.96M | 23.27M | 24.53M | 31.57M | 33.13M | 25.07M |
| EBIT | 22.48M | 18.51M | 17.57M | 3.69M | 3.32M | 4.70M |
| EBIT Margin | 9.00% | 7.43% | 7.29% | 1.70% | 1.52% | 2.55% |
| Effective Tax Rate | 48.69% | 44.13% | 133.12% | 47.65% | ||
| Revenue as Reported | 249.13M | 249.13M | 240.98M | 216.19M | 219.08M | 184.34M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 30.70M | 26.93M | 27.32M | 28.21M | 32.91M | 49.35M |
| Short-Term Investments | 1.54M | 1.64M | 1.75M | 1.90M | ||
| Cash & Short-Term Investments | 32.24M | 28.57M | 29.07M | 30.11M | 32.91M | 49.35M |
| Receivables | 34.41M | 44.10M | 41.97M | 39.05M | 42.55M | 41.22M |
| Inventory | 27.23M | 26.37M | 25.36M | 32.67M | 34.64M | 24.61M |
| Prepaid Expenses | 4.35M | 2.79M | 2.36M | 2.93M | 8.87M | 9.14M |
| Other Current Assets | 4.62M | 4.44M | 3.91M | 4.58M | ||
| Total Current Assets | 102.85M | 106.27M | 102.69M | 109.35M | 118.97M | 124.32M |
| Property, Plant & Equipment | 30.09M | 48.11M | 48.72M | 41.44M | 36.84M | 38.82M |
| Goodwill | 186.04M | 186.86M | 181.76M | 180.10M | 286.44M | 291.17M |
| Other Intangible Assets | 78.40M | 83.35M | 96.88M | 113.75M | 216.81M | 250.12M |
| Long-Term Deferred Tax Assets | 1.49M | 1.50M | 1.37M | 1.29M | 1.08M | 1.32M |
| Other Long-Term Assets | 20.36M | 1.66M | 1.94M | 867.00K | 1.68M | 1.63M |
| Total Assets | 419.22M | 427.75M | 433.35M | 446.80M | 661.83M | 707.37M |
| Accounts Payable | 7.46M | 4.93M | 5.75M | 6.04M | 6.13M | 7.90M |
| Accrued Expenses | 22.11M | 28.19M | 27.46M | 18.19M | 17.67M | 21.88M |
| Current Portion of Long-Term Debt | 5.62M | 5.62M | 101.05M | |||
| Current Portion of Leases | 2.63M | 3.69M | 3.52M | 2.99M | 2.87M | 2.77M |
| Current Income Taxes Payable | 4.97M | 4.75M | 2.16M | 1.61M | 992.00K | 928.00K |
| Current Unearned Revenue | 14.52M | 14.72M | 14.71M | 15.48M | 15.69M | 13.83M |
| Other Current Liabilities | 9.31M | 751.00K | ||||
| Total Current Liabilities | 57.32M | 61.90M | 163.96M | 44.31M | 43.36M | 48.05M |
| Long-Term Debt | 137.24M | 145.86M | 76.90M | 221.70M | 183.27M | 218.37M |
| Long-Term Leases | 15.85M | 13.66M | 12.38M | 6.61M | 5.75M | 7.44M |
| Long-Term Unearned Revenue | 92.00K | 208.00K | 404.00K | |||
| Long-Term Deferred Tax Liabilities | 20.05M | 20.09M | 20.18M | 19.78M | 34.03M | 39.22M |
| Other Long-Term Liabilities | 8.79M | 1.54M | 488.00K | |||
| Total Liabilities | 230.46M | 241.50M | 273.52M | 301.40M | 268.35M | 313.57M |
| Common Stock | 376.75M | 375.35M | 358.54M | 343.64M | 332.08M | 313.46M |
| Retained Earnings | -183.80M | -185.75M | -188.94M | -183.49M | 74.20M | 76.67M |
| Comprehensive Income & Other | -4.19M | -3.36M | -9.78M | -14.76M | -12.79M | 3.67M |
| Shareholders' Equity | 188.76M | 186.25M | 159.83M | 145.39M | 393.48M | 393.80M |
| Total Liabilities & Equity | 419.22M | 427.75M | 433.35M | 446.80M | 661.83M | 707.37M |
| Total Debt | 161.35M | 168.83M | 193.85M | 231.30M | 191.89M | 228.57M |
| Net Cash (Debt) | -129.11M | -140.26M | -164.78M | -201.19M | -158.98M | -179.22M |
| Net Cash Per Share | -22.99 | -25.20 | -30.40 | -37.35 | -29.66 | -33.59 |
| Filing Date Shares Outstanding | 5.60M | 5.52M | 5.46M | 5.41M | 5.37M | 5.27M |
| Total Common Shares Outstanding | 5.60M | 5.52M | 5.46M | 5.39M | 5.37M | 5.27M |
| Working Capital | 45.53M | 44.37M | -61.28M | 65.04M | 75.62M | 76.26M |
| Book Value Per Share | 33.73 | 33.71 | 29.30 | 26.95 | 73.28 | 74.79 |
| Tangible Book Value | -75.68M | -83.97M | -118.81M | -148.46M | -109.78M | -147.48M |
| Tangible Book Value Per Share | -13.52 | -15.20 | -21.78 | -27.52 | -20.45 | -28.01 |
| Land | 889.00K | 889.00K | 889.00K | 889.00K | 889.00K | |
| Buildings | 23.37M | 23.28M | 23.48M | 22.00M | 21.54M | |
| Machinery | 27.08M | 25.79M | 23.15M | 18.89M | 21.86M | |
| Construction In Progress | 1.47M | 1.61M | 1.38M | 1.74M | 487.00K | |
| Order Backlog | 33.60M | 43.20M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 4.80M | 6.71M | -1.97M | -254.25M | 930.00K | 1.87M |
| Depreciation & Amortization | 22.96M | 23.27M | 24.53M | 31.57M | 33.13M | 25.07M |
| Asset Writedown & Restructuring Costs | 274.53M | |||||
| Stock-Based Compensation | 16.35M | 17.87M | 13.14M | 11.94M | 12.54M | 11.39M |
| Other Operating Activities | 5.68M | -33.00K | 4.21M | -25.64M | -1.51M | 8.09M |
| Change in Accounts Receivable | 3.14M | -3.21M | -2.92M | 4.94M | -2.12M | -6.75M |
| Change in Inventory | -2.68M | -4.43M | 1.15M | 2.56M | -10.18M | -1.04M |
| Change in Accounts Payable | 1.01M | -1.20M | -388.00K | -97.00K | -1.54M | 1.37M |
| Change in Unearned Revenue | -481.00K | -255.00K | -938.00K | -408.00K | 606.00K | 2.59M |
| Change in Other Net Operating Assets | 4.90M | 4.11M | 10.00M | -1.02M | -3.87M | -3.35M |
| Operating Cash Flow | 55.67M | 42.83M | 46.81M | 44.13M | 27.98M | 39.22M |
| Capital Expenditures | -2.80M | -3.25M | -4.25M | -2.57M | -4.54M | -4.43M |
| Cash Acquisitions | -78.74M | -4.95M | -300.79M | |||
| Sale (Purchase) of Intangibles | -250.00K | |||||
| Investing Cash Flow | -2.80M | -3.25M | -4.50M | -81.31M | -9.49M | -305.23M |
| Long-Term Debt Issued | 107.50M | 73.47M | 71.00M | 70.00M | ||
| Long-Term Debt Repaid | -134.25M | -115.81M | -33.50M | -36.00M | -21.00M | |
| Net Debt Issued (Repaid) | -38.47M | -26.75M | -42.35M | 37.50M | -36.00M | 49.00M |
| Issuance of Common Stock | 2.64M | 358.00K | 7.00M | 8.03M | ||
| Repurchase of Common Stock | -958.00K | -1.06M | -887.00K | -728.00K | -919.00K | -875.00K |
| Common Dividends Paid | -3.53M | -3.52M | -3.47M | -3.45M | -3.41M | -3.34M |
| Other Financing Activities | -966.00K | -10.52M | -452.00K | -847.00K | -237.00K | |
| Financing Cash Flow | -43.92M | -41.85M | -44.51M | 32.84M | -33.33M | 52.58M |
| Foreign Exchange Rate Adjustments | 467.00K | 1.88M | 1.31M | -359.00K | -1.60M | -1.09M |
| Net Cash Flow | 9.42M | -393.00K | -893.00K | -4.70M | -16.44M | -214.52M |
| Free Cash Flow | 52.87M | 39.58M | 42.56M | 41.57M | 23.44M | 34.79M |
| Free Cash Flow Margin | 21.17% | 15.89% | 17.66% | 19.23% | 10.70% | 18.87% |
| Free Cash Flow Per Share | 9.41 | 7.11 | 7.85 | 7.72 | 4.37 | 6.52 |
| Levered Free Cash Flow | 53.38M | 31.88M | 60.43M | 47.35M | 24.33M | 11.18M |
| Unlevered Free Cash Flow | 60.17M | 38.57M | 67.84M | 50.91M | 27.31M | 13.60M |
| Cash Interest Paid | 10.02M | 10.02M | 11.08M | 4.65M | 3.48M | 2.76M |
| Cash Income Tax Paid | 1.87M | 1.87M | 5.73M | 4.59M | 1.36M | 3.05M |
| Change in Working Capital | 5.89M | -4.99M | 6.90M | 5.97M | -17.11M | -7.19M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 698.48M | 488.50M | 644.75M | 591.89M | 934.14M | 1.34B |
| Enterprise Value | 827.59M | 639.00M | 824.07M | 805.08M | 1.10B | 1.53B |
| Last Close Price | 127.81 | 88.17 | 117.44 | 108.04 | 171.07 | 248.66 |
| PE Ratio | 145.00 | 72.78 | 1,004.45 | 714.64 | ||
| Forward PE | 56.77 | 63.76 | 16.50 | 17.53 | 27.40 | 39.18 |
| PS Ratio | 2.86 | 1.96 | 2.68 | 2.74 | 4.26 | 7.25 |
| PB Ratio | 3.79 | 2.62 | 4.03 | 4.07 | 2.37 | 3.40 |
| P/FCF Ratio | 13.53 | 12.34 | 15.15 | 14.24 | 39.85 | 38.43 |
| P/OCF Ratio | 12.85 | 11.40 | 13.77 | 13.41 | 33.38 | 34.09 |
| PEG Ratio | 3.88 | 3.88 | 5.14 | 5.14 | 5.14 | |
| EV/Sales Ratio | 3.38 | 2.56 | 3.42 | 3.72 | 5.03 | 8.27 |
| EV/EBITDA Ratio | 18.58 | 15.29 | 19.58 | 22.83 | 30.23 | 51.23 |
| EV/EBIT Ratio | 37.56 | 34.52 | 46.91 | 218.36 | 331.90 | 324.36 |
| EV/FCF Ratio | 15.97 | 16.14 | 19.36 | 19.37 | 47.01 | 43.84 |
| Debt / Equity Ratio | 0.85 | 0.91 | 1.21 | 1.59 | 0.49 | 0.58 |
| Debt / EBITDA Ratio | 3.05 | 3.45 | 4.04 | 5.76 | 4.68 | 7.11 |
| Debt / FCF Ratio | 3.05 | 4.26 | 4.55 | 5.57 | 8.19 | 6.57 |
| Net Debt / Equity Ratio | 0.68 | 0.75 | 1.03 | 1.38 | 0.40 | 0.46 |
| Net Debt / EBITDA Ratio | 2.84 | 3.36 | 3.91 | 5.71 | 4.36 | 6.02 |
| Net Debt / FCF Ratio | 2.44 | 3.54 | 3.87 | 4.84 | 6.78 | 5.15 |
| Asset Turnover | 0.58 | 0.58 | 0.55 | 0.39 | 0.32 | 0.28 |
| Inventory Turnover | 3.23 | 3.51 | 3.06 | 2.43 | 2.88 | 4.21 |
| Quick Ratio | 1.16 | 1.17 | 0.43 | 1.56 | 1.74 | 1.89 |
| Current Ratio | 1.79 | 1.72 | 0.63 | 2.47 | 2.74 | 2.59 |
| Return on Equity (ROE) | 2.66% | 3.88% | -1.29% | -94.36% | 0.24% | 0.47% |
| Return on Assets (ROA) | 3.29% | 2.69% | 2.50% | 0.42% | 0.30% | 0.45% |
| Return on Invested Capital (ROIC) | 3.58% | 3.18% | -1.73% | 0.82% | 0.59% | 0.57% |
| Return on Capital Employed (ROCE) | 6.20% | 5.10% | 6.50% | 0.90% | 0.50% | 0.70% |
| Earnings Yield | 0.69% | 1.37% | -0.31% | -42.95% | 0.10% | 0.14% |
| FCF Yield | 7.39% | 8.10% | 6.60% | 7.02% | 2.51% | 2.60% |
| Dividend Yield | 0.51% | 0.72% | 0.54% | 0.58% | 0.37% | 0.25% |
| Payout Ratio | 74.35% | 52.49% | 366.24% | 178.46% | ||
| Buyback Yield / Dilution | -3.27% | -2.66% | -0.65% | -0.47% | -0.49% | -4.12% |
| Total Shareholder Return | -2.77% | -1.93% | -0.11% | 0.12% | -0.12% | -3.87% |