IDXX
IDEXX Laboratories, Inc.
IDXX's fundamentals are strong: it turned 28% of its revenue into free cash flow and free cash flow grew 35%. At 47x earnings, it's trading below its usual 54x. Analysts expect earnings growth.
IDXX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
IDXX's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
IDXX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 43x | $634 | -9.1% |
| Forward | 43x | $698 | — |
| Current | 47x | $698 | — |
| Fair | 53x | $793 | +14% |
| Expensive | 72x | $1,066 | +53% |
Historical ranges are pointers, not guarantees.
IDXX's PE is in its cheap range at 47x. If earnings grow as analysts expect, today's price would be 43x next year's earnings.
IDXX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for IDXX, with profitability improving.
IDXX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $16.28 | +9.7% |
| Q3 2026 | $14.84 | +18% |
| Q2 2026 | $14.23 | +18% |
| Q1 2026 | $13.59 | +26% |
| Q4 2025 | $13.08 | +23% |
| Q3 2025 | $12.61 | +22% |
| Q2 2025 | $12.01 | +19% |
| Q1 2025 | $10.82 | +4.8% |
| Q4 2024 | $10.67 | +6.1% |
IDXX's earnings per share have climbed steadily: $14.84 over the past year, up 18% from the year before, and higher year over year for 14 quarters in a row.
IDXX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +9.9% |
| Q2 2026 | $1.2B | +9.7% |
| Q1 2026 | $1.1B | +14% |
| Q4 2025 | $1.1B | +14% |
| Q3 2025 | $1.1B | +13% |
| Q2 2025 | $1.1B | +11% |
| Q1 2025 | $998.4M | +3.6% |
| Q4 2024 | $954.3M | +5.8% |
IDXX's revenue has grown year over year every quarter since late 2020: $1.2B last quarter, up 9.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 33% | +1 points |
| Q2 2026 | 35% | +1.4 points |
| Q1 2026 | 32% | +0.1 points |
| Q4 2025 | 29% | +1.5 points |
| Q3 2025 | 32% | +1 points |
| Q2 2025 | 34% | +7.3 points |
| Q1 2025 | 32% | +0.7 points |
| Q4 2024 | 27% | +0.2 points |
IDXX's operating margin was 33% last quarter, up 1 points from the same quarter a year ago.
IDXX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $420.8M | +13% |
| Q2 2026 | $322.5M | +113% |
| Q1 2026 | $234.3M | +13% |
| Q4 2025 | $326.3M | +40% |
| Q3 2025 | $371.2M | +93% |
| Q2 2025 | $151.6M | -29% |
| Q1 2025 | $207.9M | +24% |
| Q4 2024 | $232.8M | +7.1% |
IDXX generated $1.3B in free cash flow over the past year, up 35% from the year before.
IDXX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -263K shares |
| 1 year | -2% | -1.6M shares |
| 3 years | -5.9% | -4.9M shares |
| 5 years | -8.6% | -7.5M shares |
| Available history | -9.7% | -8.5M shares |
IDXX has 79M diluted shares, down 2% from a year ago, with $1B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $112.2M |
| Q2 2026 | $346.8M |
| Q1 2026 | $351M |
| Q4 2025 | $237.8M |
| Q3 2025 | $240.2M |
| Q2 2025 | $338.1M |
| Q1 2025 | $400.9M |
| Q4 2024 | $246M |
IDXX spent $1B buying back its own shares over the past year, down 14% from the year before.
IDXX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.2x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.3x | Very low |
IDXX's net debt is less than a year of its operating earnings (EBITDA).
IDXX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 72.3 | Overbought |
| Stochastic | 72.0 | Neutral |
IDXX's weekly RSI is 72 (overbought) and its Stochastic is 72 (neutral).
IDXX PE vs Healthcare Sector
| Metric | IDXX | Sector median | Relative |
|---|---|---|---|
| PE | 47x | 26x | 82% above |
| PE % | 28 | 29 | 1 pt below |
IDXX is trading at 47x earnings, a 82% premium to the Healthcare sector's median of 26x.
IDXX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $575.2 | 21% above |
| 20 week MA | $559.8 | 25% above |
| 50 week MA | $593.1 | 18% above |
| 100 week MA | $562.0 | 24% above |
| 200 week MA | $525.7 | 33% above |
IDXX is in an uptrend: it's above all five of its weekly moving averages, and 33% above its 200-week average.
IDXX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $264.0 | $497.1 | +88% |
| 2021 | $497.1 | $645.0 | +30% |
| 2022 | $645.0 | $410.6 | -36% |
| 2023 | $410.6 | $555.1 | +35% |
| 2024 | $555.1 | $414.9 | -25% |
| 2025 | $414.9 | $688.5 | +66% |
| 2026 YTD | $688.5 | $698.0 | +1.4% |
IDXX has finished higher in four of the last six years, two of them by more than 50%. It's up 1.4% so far in 2026.