IDEXX Laboratories Financials
This page shows IDEXX Laboratories (IDXX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
IDEXX Laboratories has an operating margin of 28.9%, meaning the company retains $29 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 30.0% the prior year.
IDEXX Laboratories's revenue grew 6.5% year-over-year to $3.9B, a solid pace of expansion. This earns a growth score of 47/100.
IDEXX Laboratories carries a low D/E ratio of 0.28, meaning only $0.28 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
IDEXX Laboratories's current ratio of 1.31 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.
IDEXX Laboratories converts 20.7% of revenue into free cash flow ($808.1M). This strong cash generation earns a score of 100/100.
IDEXX Laboratories earns a strong 55.6% return on equity (ROE), meaning it generates $56 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 56.9% the prior year.
IDEXX Laboratories scores 22.46, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($50.3B) relative to total liabilities ($1.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
IDEXX Laboratories passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, IDEXX Laboratories generates $1.05 in operating cash flow ($929.0M OCF vs $887.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
IDEXX Laboratories earns $36.2 in operating income for every $1 of interest expense ($1.1B vs $31.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
IDEXX Laboratories generated $3.9B in revenue in fiscal year 2024. This represents an increase of 6.5% from the prior year.
IDEXX Laboratories's EBITDA was $1.3B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.8% from the prior year.
IDEXX Laboratories generated $808.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 4.6% from the prior year.
IDEXX Laboratories reported $887.9M in net income in fiscal year 2024. This represents an increase of 5.1% from the prior year.
IDEXX Laboratories held $288.3M in cash against $449.8M in long-term debt as of fiscal year 2024.
IDEXX Laboratories had 81M shares outstanding in fiscal year 2024. This represents a decrease of 2.1% from the prior year.
IDEXX Laboratories's gross margin was 61.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.
IDEXX Laboratories's operating margin was 28.9% in fiscal year 2024, reflecting core business profitability. This is down 1.0 percentage points from the prior year.
IDEXX Laboratories's net profit margin was 22.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.3 percentage points from the prior year.
IDEXX Laboratories's ROE was 55.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.3 percentage points from the prior year.
IDEXX Laboratories invested $219.8M in research and development in fiscal year 2024. This represents an increase of 15.1% from the prior year.
IDEXX Laboratories spent $837.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 1063.8% from the prior year.
IDEXX Laboratories invested $120.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 9.5% from the prior year.
IDXX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B-0.4% | $1.1B+11.1% | $998.4M+4.6% | $954.3M-4.9% | $1.0B+4.1% | $964.1M+6.9% | $901.6M-1.5% | $915.5M |
| Cost of Revenue | $421.9M+1.7% | $414.7M+10.6% | $375.0M-2.2% | $383.6M-0.2% | $384.4M+3.6% | $371.0M-1.2% | $375.4M+2.1% | $367.5M |
| Gross Profit | $683.4M-1.6% | $694.7M+11.4% | $623.4M+9.2% | $570.7M-7.8% | $619.2M+4.4% | $593.1M+12.7% | $526.2M-4.0% | $548.0M |
| R&D Expenses | $63.4M+2.5% | $61.9M+4.8% | $59.1M+2.3% | $57.7M+4.1% | $55.5M+5.3% | $52.6M+1.6% | $51.8M+8.0% | $48.0M |
| SG&A Expenses | $105.9M+7.4% | $98.7M+7.8% | $91.6M-9.5% | $101.1M-35.7% | $157.2M+70.9% | $92.0M+5.7% | $87.0M-2.3% | $89.0M |
| Operating Income | $354.8M-4.9% | $373.0M+17.9% | $316.5M+21.0% | $261.7M-0.8% | $263.8M-11.8% | $299.0M+21.9% | $245.3M-10.9% | $275.3M |
| Interest Expense | $10.7M-5.9% | $11.3M+47.7% | $7.7M+2.2% | $7.5M-7.4% | $8.1M+2.4% | $7.9M-14.6% | $9.3M+7.1% | $8.6M |
| Income Tax | $70.2M+2.6% | $68.4M+1.4% | $67.4M+67.5% | $40.2M-27.8% | $55.8M-6.9% | $59.9M+32.7% | $45.1M-18.9% | $55.7M |
| Net Income | $274.6M-6.6% | $294.0M+21.1% | $242.7M+12.3% | $216.1M+6.3% | $203.3M-13.7% | $235.6M+21.1% | $194.5M-8.3% | $212.2M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
IDXX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.4B+1.7% | $3.3B+3.6% | $3.2B-2.4% | $3.3B-3.6% | $3.4B+1.8% | $3.4B+2.9% | $3.3B+5.6% | $3.1B |
| Current Assets | $1.5B+8.4% | $1.4B+3.4% | $1.3B-5.9% | $1.4B-8.4% | $1.5B+1.8% | $1.5B+0.4% | $1.5B+8.0% | $1.4B |
| Cash & Equivalents | $208.2M+26.5% | $164.6M+0.4% | $164.0M-43.1% | $288.3M-28.2% | $401.6M+1.0% | $397.4M-12.4% | $453.9M+36.9% | $331.7M |
| Inventory | $391.6M-0.3% | $392.6M-0.9% | $396.0M+3.7% | $381.9M+0.5% | $380.0M-2.7% | $390.6M+2.7% | $380.3M-3.5% | $394.0M |
| Accounts Receivable | $566.9M+1.1% | $560.6M+6.3% | $527.5M+11.4% | $473.6M-11.3% | $533.6M+5.2% | $507.2M+10.9% | $457.4M+1.0% | $452.7M |
| Goodwill | $413.7M-0.2% | $414.5M+1.7% | $407.5M+0.6% | $405.1M-0.7% | $408.0M-0.2% | $408.7M+11.7% | $366.0M+1.2% | $361.8M |
| Total Liabilities | $1.8B-2.5% | $1.9B+6.0% | $1.8B+4.0% | $1.7B-7.4% | $1.8B+2.8% | $1.8B+0.5% | $1.8B-0.8% | $1.8B |
| Current Liabilities | $1.3B+2.3% | $1.2B+7.7% | $1.1B+6.4% | $1.1B-4.4% | $1.1B+16.7% | $956.9M+0.6% | $951.5M-1.9% | $970.2M |
| Long-Term Debt | $374.8M-16.7% | $449.8M0.0% | $449.8M0.0% | $449.8M-14.3% | $524.7M-15.5% | $620.8M-0.3% | $622.9M+0.7% | $618.8M |
| Total Equity | $1.6B+7.0% | $1.5B+0.7% | $1.4B-9.2% | $1.6B+1.0% | $1.6B+0.7% | $1.6B+5.7% | $1.5B+14.4% | $1.3B |
| Retained Earnings | $6.1B+4.7% | $5.9B+5.3% | $5.6B+4.6% | $5.3B+9.2% | $4.9B+4.3% | $4.7B+5.3% | $4.4B+4.6% | $4.3B |
IDXX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $402.3M+116.6% | $185.7M-21.9% | $238.0M-9.2% | $262.0M+5.5% | $248.3M+25.0% | $198.6M-20.5% | $249.9M-8.3% | $272.4M |
| Capital Expenditures | $31.1M-8.8% | $34.1M+13.6% | $30.0M+2.6% | $29.3M-12.2% | $33.3M+10.0% | $30.3M-7.0% | $32.6M-4.5% | $34.1M |
| Free Cash Flow | $371.2M+144.8% | $151.6M-27.1% | $207.9M-10.7% | $232.8M+8.3% | $215.0M+27.7% | $168.3M-22.5% | $217.3M-8.8% | $238.3M |
| Investing Cash Flow | -$44.9M-33.4% | -$33.6M-13.6% | -$29.6M+25.7% | -$39.8M-21.1% | -$32.9M+69.2% | -$106.9M-251.4% | -$30.4M-9.3% | -$27.8M |
| Financing Cash Flow | -$313.3M-89.2% | -$165.6M+49.9% | -$330.3M-41.9% | -$232.8M-10.7% | -$210.2M-45.9% | -$144.1M-41.5% | -$101.8M-136.6% | -$43.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $240.2M-29.0% | $338.1M-15.7% | $400.9M+63.0% | $246.0M+14.1% | $215.5M+39.3% | $154.8M+320.0% | $36.9M+5.1% | $35.1M |
IDXX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.8%-0.8pp | 62.6%+0.2pp | 62.4%+2.6pp | 59.8%-1.9pp | 61.7%+0.2pp | 61.5%+3.2pp | 58.4%-1.5pp | 59.9% |
| Operating Margin | 32.1%-1.5pp | 33.6%+1.9pp | 31.7%+4.3pp | 27.4%+1.1pp | 26.3%-4.7pp | 31.0%+3.8pp | 27.2%-2.9pp | 30.1% |
| Net Margin | 24.9%-1.7pp | 26.5%+2.2pp | 24.3%+1.7pp | 22.7%+2.4pp | 20.3%-4.2pp | 24.4%+2.9pp | 21.6%-1.6pp | 23.2% |
| Return on Equity | 17.6%-2.6pp | 20.2%+3.4pp | 16.8%+3.2pp | 13.6%+0.7pp | 12.9%-2.2pp | 15.0%+1.9pp | 13.1%-3.3pp | 16.4% |
| Return on Assets | 8.1%-0.7pp | 8.8%+1.3pp | 7.5%+1.0pp | 6.6%+0.6pp | 5.9%-1.1pp | 7.0%+1.0pp | 6.0%-0.9pp | 6.9% |
| Current Ratio | 1.18+0.1 | 1.11-0.0 | 1.16-0.2 | 1.31-0.1 | 1.37-0.2 | 1.570.0 | 1.57+0.1 | 1.43 |
| Debt-to-Equity | 0.24-0.1 | 0.310.0 | 0.31+0.0 | 0.28-0.1 | 0.33-0.1 | 0.40-0.0 | 0.42-0.1 | 0.48 |
| FCF Margin | 33.6%+19.9pp | 13.7%-7.2pp | 20.8%-3.6pp | 24.4%+3.0pp | 21.4%+4.0pp | 17.5%-6.6pp | 24.1%-1.9pp | 26.0% |
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Frequently Asked Questions
What is IDEXX Laboratories's annual revenue?
IDEXX Laboratories (IDXX) reported $3.9B in total revenue for fiscal year 2024. This represents a 6.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is IDEXX Laboratories's revenue growing?
IDEXX Laboratories (IDXX) revenue grew by 6.5% year-over-year, from $3.7B to $3.9B in fiscal year 2024.
Is IDEXX Laboratories profitable?
Yes, IDEXX Laboratories (IDXX) reported a net income of $887.9M in fiscal year 2024, with a net profit margin of 22.8%.
What is IDEXX Laboratories's EBITDA?
IDEXX Laboratories (IDXX) had EBITDA of $1.3B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does IDEXX Laboratories have?
As of fiscal year 2024, IDEXX Laboratories (IDXX) had $288.3M in cash and equivalents against $449.8M in long-term debt.
What is IDEXX Laboratories's gross margin?
IDEXX Laboratories (IDXX) had a gross margin of 61.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is IDEXX Laboratories's operating margin?
IDEXX Laboratories (IDXX) had an operating margin of 28.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is IDEXX Laboratories's net profit margin?
IDEXX Laboratories (IDXX) had a net profit margin of 22.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is IDEXX Laboratories's return on equity (ROE)?
IDEXX Laboratories (IDXX) has a return on equity of 55.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is IDEXX Laboratories's free cash flow?
IDEXX Laboratories (IDXX) generated $808.1M in free cash flow during fiscal year 2024. This represents a 4.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is IDEXX Laboratories's operating cash flow?
IDEXX Laboratories (IDXX) generated $929.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are IDEXX Laboratories's total assets?
IDEXX Laboratories (IDXX) had $3.3B in total assets as of fiscal year 2024, including both current and long-term assets.
What are IDEXX Laboratories's capital expenditures?
IDEXX Laboratories (IDXX) invested $120.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does IDEXX Laboratories spend on research and development?
IDEXX Laboratories (IDXX) invested $219.8M in research and development during fiscal year 2024.
Does IDEXX Laboratories buy back shares?
Yes, IDEXX Laboratories (IDXX) spent $837.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does IDEXX Laboratories have outstanding?
IDEXX Laboratories (IDXX) had 81M shares outstanding as of fiscal year 2024.
What is IDEXX Laboratories's current ratio?
IDEXX Laboratories (IDXX) had a current ratio of 1.31 as of fiscal year 2024, which is considered adequate.
What is IDEXX Laboratories's debt-to-equity ratio?
IDEXX Laboratories (IDXX) had a debt-to-equity ratio of 0.28 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is IDEXX Laboratories's return on assets (ROA)?
IDEXX Laboratories (IDXX) had a return on assets of 27.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is IDEXX Laboratories's Altman Z-Score?
IDEXX Laboratories (IDXX) has an Altman Z-Score of 22.46, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is IDEXX Laboratories's Piotroski F-Score?
IDEXX Laboratories (IDXX) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are IDEXX Laboratories's earnings high quality?
IDEXX Laboratories (IDXX) has an earnings quality ratio of 1.05x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can IDEXX Laboratories cover its interest payments?
IDEXX Laboratories (IDXX) has an interest coverage ratio of 36.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is IDEXX Laboratories?
IDEXX Laboratories (IDXX) scores 80 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.