Idexx Laboratories

Health Care Health Care Equipment Westbrook, Maine Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.3B
                    3y CAGR +8.5%
                    
                    P68
                    
                    +10.4%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +24.6%
                    
                    P83
                    
                    +19.3%
                    
                    Total assets
                    FY2025
                
$3.4B
                    ROA +31.6%
                    
                    P100
                    
                    +1.7%
                    
                    Operating cash flow
                    FY2025
                
$1.2B
                    FCF margin +24.6%
                    
                    P90
                    
                    +27.2%

19 yrs · FY2006–FY2025 1 gap (2007) 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 10 years

Total assets $3.4B

Total liabilities $1.7B

Shareholders equity $1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	4.2%	7.4%	12.4%	3.3%	4.5%	14.2%	3.8%	5.6%	9.5%	8.7%
Accounts Receivable	12.8%	12.2%	12.5%	11.9%	11.5%	12.2%	11.2%	11.2%	11.9%	11.5%
Inventory	8.8%	9.8%	10.4%	10.9%	8.4%	7.8%	8.1%	7.8%	8.3%	8.9%
Prepaid Expenses	1.3%	1.5%	1.3%	1.2%	1.3%	1.3%	1.3%	1.4%	1.5%	1.5%
Other Current Assets	7.1%	6.6%	5.6%	6.5%	5.4%	5.1%	5.2%	4.9%	5.1%	5.1%
Total Current Assets	32.9%	35.9%	40.8%	32.7%	29.7%	39.3%	28.2%	29.6%	49.4%	47.6%
Property,Plant and Equipment	17.4%	18.3%	19.2%	19.3%	18.3%	20.5%	22.2%	19.8%	19.3%	20.1%
Operating Lease Assets	2.9%	3.0%	3.2%	3.5%	3.3%	3.4%	3.3%	—	—	—
Goodwill	9.6%	10.4%	10.0%	10.7%	11.2%	9.0%	10.0%	9.7%	10.2%	10.0%
Intangible Assets	2.6%	2.9%	2.3%	2.9%	3.1%	1.9%	2.4%	1.9%	2.2%	2.6%
Deferred Tax Assets	0.6%	3.2%	2.9%	1.6%	0.8%	1.2%	0.3%	0.4%	0.4%	—
Other Noncurrent Assets	12.6%	14.0%	13.6%	12.4%	10.3%	10.7%	10.0%	8.6%	6.0%	5.8%
Total Assets	77.9%	84.5%	89.0%	81.6%	75.8%	84.8%	76.1%	69.5%	87.0%	86.2%
Liabilities
Accounts Payable	2.6%	2.9%	3.0%	3.3%	3.6%	2.8%	3.0%	3.1%	3.4%	3.4%
Accrued Liabilities	12.3%	12.9%	13.1%	12.9%	14.3%	15.4%	13.4%	11.8%	12.9%	13.3%
Deferred Revenue	0.8%	0.9%	1.0%	1.1%	1.2%	1.6%	1.7%	1.9%	1.5%	1.5%
Current Portion of Long Term Debt	1.7%	4.3%	2.0%	2.2%	2.3%	1.8%	—	—	—	—
Operating Lease Liabilities	0.6%	0.6%	0.5%	0.6%	0.6%	0.7%	0.6%	—	—	—
Other Current Liabilities	1.3%	1.1%	1.8%	2.0%	2.2%	3.2%	3.4%	3.8%	4.9%	2.2%
Total Current Liabilities	26.7%	27.4%	26.0%	36.7%	23.7%	21.5%	30.1%	34.8%	51.0%	52.6%
Long Term Debt	8.7%	11.5%	17.0%	20.6%	24.1%	31.7%	29.1%	27.2%	30.8%	33.4%
Deferred Revenue Noncurrent	0.7%	0.7%	0.8%	0.9%	1.3%	1.7%	2.0%	2.7%	1.8%	1.9%
Operating Lease Liabilities Noncurrent	2.4%	2.5%	2.7%	3.0%	2.7%	2.8%	2.8%	—	—	—
Deferred Tax Liabilities	0.7%	0.3%	0.2%	0.2%	0.3%	0.4%	1.4%	1.3%	3.4%	2.2%
Other Noncurrent Liabilities	1.3%	1.1%	1.8%	2.0%	2.2%	3.2%	3.4%	3.8%	4.9%	2.2%
Total Liabilities	40.6%	43.6%	48.5%	63.5%	54.3%	61.4%	68.7%	69.9%	89.8%	92.3%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.3%	0.3%	0.3%	0.3%	0.3%	0.4%	0.4%	0.5%	0.5%	0.6%
Additional Paid In Capital	42.4%	42.9%	42.9%	43.5%	42.8%	47.8%	50.4%	51.4%	54.5%	57.0%
Retained Earnings	148.5%	136.8%	121.4%	106.9%	90.8%	80.4%	66.3%	52.8%	40.8%	30.4%
Treasury Stock	152.5%	136.9%	122.2%	130.4%	111.1%	103.4%	108.0%	103.4%	97.1%	92.0%
Accumulated Other Comprehensive Income	-1.6%	-2.4%	-1.9%	-2.3%	-1.7%	-2.0%	-1.9%	-1.9%	-1.9%	-2.4%
Total Stockholders Equity	37.3%	40.9%	40.6%	18.1%	21.5%	23.4%	7.4%	-0.4%	-2.7%	-6.1%
Total Liabilitiesand Equity	77.9%	84.5%	89.0%	81.6%	75.8%	84.8%	76.1%	69.5%	87.0%	86.2%

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $4.3B

Operating income $1.4B

Net income $1.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	38.2%	39.0%	40.2%	40.5%	41.2%	42.0%	43.3%	43.9%	44.3%	45.1%
Expenses Research and Development	5.8%	5.6%	5.2%	7.6%	5.0%	5.2%	5.5%	5.3%	5.5%	5.7%
Expenses Selling,General and Administrative	9.4%	11.3%	9.2%	9.7%	9.6%	11.1%	10.9%	11.1%	11.2%	11.7%
Expenses Depreciation and Amortization	3.4%	3.3%	3.1%	3.3%	3.3%	3.5%	3.7%	3.8%	4.2%	4.4%
Expenses Share Based Compensation	1.4%	1.5%	1.6%	1.5%	1.2%	1.1%	1.6%	1.1%	1.2%	1.1%
Expenses Operating Expenses	30.2%	32.1%	29.9%	32.8%	—	—	—	33.9%	—	—
Other Income Expense Gross Profit	61.8%	61.0%	59.8%	59.5%	58.8%	58.0%	56.7%	56.1%	55.7%	54.9%
Other Income Expense Operating Income	31.6%	29.0%	30.0%	26.7%	29.0%	25.7%	23.0%	22.2%	21.0%	19.7%
Other Income Expense Interest Expense	0.9%	0.8%	1.1%	1.2%	0.9%	1.2%	1.3%	1.6%	1.9%	1.8%
Other Income Expense Income Before Tax	30.8%	28.5%	29.0%	25.5%	28.1%	24.5%	21.7%	20.7%	19.4%	18.1%
Income Tax Income Tax Expense	6.2%	5.7%	5.9%	5.4%	4.9%	3.0%	3.9%	3.6%	6.0%	5.6%
net Income net Income	24.6%	22.8%	23.1%	20.2%	23.2%	21.5%	17.8%	17.0%	13.4%	12.5%
net Income Comprehensive Income	25.2%	22.2%	23.3%	19.4%	23.2%	21.2%	17.6%	16.8%	13.7%	12.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.9%	2.1%	2.3%	2.5%	2.6%	3.2%	3.6%	3.9%	4.5%	5.1%
Earnings Per Share Weighted Average Shares Diluted	1.9%	2.1%	2.3%	2.5%	2.7%	3.2%	3.6%	4.0%	4.5%	5.1%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $1.2B

Investing cash flow $-136.2M

Financing cash flow $-1.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	24.6%	22.8%	23.1%	20.2%	23.2%	21.5%	17.8%	17.0%	13.4%	12.5%
Operating Activities Depreciation and Amortization	0.5%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.5%	0.5%
Operating Activities Stock Based Compensation	1.4%	1.5%	1.6%	1.5%	1.2%	1.1%	1.6%	1.1%	1.2%	1.1%
Operating Activities Deferred Income Taxes	3.0%	-0.6%	-1.3%	-1.0%	-0.1%	-1.4%	0.3%	0.1%	-0.4%	1.2%
Operating Activities Changes In Operating Assets and Liabilities	1.6%	1.5%	2.2%	4.6%	2.4%	2.4%	2.0%	4.1%	2.6%	1.7%
Operating Activities Other Non Cash Items	0.1%	0.0%	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%	0.1%	0.1%
Operating Activities net Cash From Operating Activities	27.5%	23.8%	24.8%	16.1%	23.5%	23.9%	19.1%	18.1%	19.0%	—
Investing Activities Capital Expenditures	2.9%	3.1%	3.7%	4.4%	3.7%	4.0%	6.4%	5.2%	3.8%	3.6%
Investing Activities Business Acquisitions	0.0%	2.0%	0.0%	0.3%	5.4%	0.1%	2.1%	1.0%	0.7%	0.1%
Investing Activities Other Investing Activities	0.1%	0.0%	0.2%	0.0%	0.0%	—	—	—	—	—
Investing Activities net Cash From Investing Activities	-3.2%	-5.3%	-3.4%	-5.8%	-9.1%	-4.0%	-8.5%	6.3%	-7.0%	—
Financing Activities Repayment of Debt	4.1%	1.9%	2.0%	2.2%	1.6%	0.0%	0.0%	11.6%	—	—
Financing Activities Repurchase of Common Stock	28.3%	21.5%	2.0%	24.3%	23.2%	6.8%	12.5%	16.7%	14.4%	17.1%
Financing Activities Proceeds From Stock Issuance	2.2%	1.1%	1.3%	1.1%	1.4%	1.9%	1.5%	1.7%	2.0%	2.2%
Financing Activities Tax Withholding On Stock Based Compensation	0.2%	0.3%	0.3%	0.3%	0.5%	0.8%	0.3%	0.4%	0.4%	0.2%
Financing Activities net Cash From Financing Activities	-27.1%	-22.5%	-12.1%	-11.0%	-21.7%	-9.2%	-11.9%	-27.0%	-10.6%	—
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.2%	0.1%	-0.3%	-0.1%	0.1%	-0.0%	-0.2%	0.3%	-0.0%
Cash Reconciliation net Change In Cash	-2.5%	-4.3%	9.3%	-0.9%	-7.4%	10.8%	-1.4%	-2.9%	1.7%	1.5%
Cash Reconciliation Cash At Beginning of Period	4.2%	7.4%	12.4%	3.3%	4.5%	14.2%	3.8%	5.6%	9.5%	8.7%
Cash Reconciliation Cash At End of Period	4.2%	7.4%	12.4%	3.3%	4.5%	14.2%	3.8%	5.6%	9.5%	8.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+61.8%	+61.0%	+59.8%	+59.5%	+58.8%	+58.0%	+56.7%	+56.1%	+55.7%	+54.9%
Operating margin	+31.6%	+29.0%	+30.0%	+26.7%	+29.0%	+25.7%	+23.0%	+22.2%	+21.0%	+19.7%
Net margin	+24.6%	+22.8%	+23.1%	+20.2%	+23.2%	+21.5%	+17.8%	+17.0%	+13.4%	+12.5%
FCF margin	+24.6%	+20.7%	+21.1%	+11.7%	+19.8%	+20.0%	+12.6%	+12.8%	+15.2%	—
Growth
Revenue CAGR (3y)	+8.5%	+6.6%	+10.6%	+11.8%	+13.3%	+11.2%	+10.7%	+11.4%	+9.8%	+8.8%
Returns
ROE	+66.0%	+55.7%	+56.9%	+111.6%	+107.9%	+92.0%	+241.0%	-3963.3%	-486.3%	-204.9%
ROA	+31.6%	+27.0%	+25.9%	+24.7%	+30.6%	+25.4%	+23.3%	+24.5%	+15.4%	+14.5%
ROIC	+58.0%	+46.9%	+50.5%	+56.1%	+55.1%	+52.8%	+57.6%	+86.4%	+78.2%	+73.1%
Liquidity
Current ratio	1.23x	1.31x	1.57x	0.89x	1.25x	1.82x	0.94x	0.85x	0.97x	0.90x
Quick ratio	0.64x	0.71x	0.96x	0.42x	0.67x	1.23x	0.50x	0.48x	0.42x	0.38x
Leverage
D/E	1.09x	1.06x	1.20x	3.51x	2.53x	2.63x	9.32x	-162.58x	-32.66x	-15.13x
Interest coverage	35.01x	36.16x	26.39x	22.55x	31.27x	20.97x	17.80x	14.14x	11.10x	10.93x
Efficiency
Asset turnover	1.28x	1.18x	1.12x	1.23x	1.32x	1.18x	1.31x	1.44x	1.15x	1.16x
Cash conversion cycle	+106d	+109d	+113d	+112d	+84d	+88d	+84d	+80d	+84d	+87d

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FY2025 fundamentals · no price

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Idexx Laboratories

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