Mesa Laboratories Financials
This page shows Mesa Laboratories (MLAB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Mesa Laboratories has an operating margin of 6.8%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 34/100, indicating healthy but not exceptional operating efficiency. This is up from -125.8% the prior year.
Mesa Laboratories's revenue grew 11.5% year-over-year to $241.0M, a solid pace of expansion. This earns a growth score of 61/100.
Mesa Laboratories carries a low D/E ratio of 0.45, meaning only $0.45 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
Mesa Laboratories's current ratio of 0.63 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 5/100, which could limit financial flexibility.
Mesa Laboratories converts 17.7% of revenue into free cash flow ($42.6M). This strong cash generation earns a score of 88/100.
Mesa Laboratories scores 1.00, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($500.5M) relative to total liabilities ($273.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Mesa Laboratories passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Mesa Laboratories generates $-23.71 in operating cash flow ($46.8M OCF vs -$2.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Mesa Laboratories earns $1.4 in operating income for every $1 of interest expense ($16.3M vs $11.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Mesa Laboratories generated $241.0M in revenue in fiscal year 2025. This represents an increase of 11.5% from the prior year.
Mesa Laboratories's EBITDA was $40.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 117.0% from the prior year.
Mesa Laboratories generated $42.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 2.4% from the prior year.
Mesa Laboratories reported -$2.0M in net income in fiscal year 2025. This represents an increase of 99.2% from the prior year.
Mesa Laboratories earned $-0.36 per diluted share (EPS) in fiscal year 2025. This represents an increase of 99.2% from the prior year.
Mesa Laboratories held $27.3M in cash against $71.3M in long-term debt as of fiscal year 2025.
Mesa Laboratories paid $0.64 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Mesa Laboratories had 5M shares outstanding in fiscal year 2025. This represents an increase of 1.1% from the prior year.
Mesa Laboratories's gross margin was 62.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.0 percentage points from the prior year.
Mesa Laboratories's operating margin was 6.8% in fiscal year 2025, reflecting core business profitability. This is up 132.6 percentage points from the prior year.
Mesa Laboratories's net profit margin was -0.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 116.8 percentage points from the prior year.
Mesa Laboratories invested $19.5M in research and development in fiscal year 2025. This represents an increase of 1.1% from the prior year.
Mesa Laboratories invested $4.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 65.5% from the prior year.
MLAB Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $65.1M+7.2% | $60.7M+2.0% | $59.5M-5.2% | $62.8M+8.7% | $57.8M-0.6% | $58.2M+8.8% | $53.5M+0.6% | $53.2M |
| Cost of Revenue | $23.3M-0.3% | $23.4M+3.5% | $22.6M-2.1% | $23.1M+3.2% | $22.4M+7.0% | $20.9M+4.2% | $20.1M-4.7% | $21.1M |
| Gross Profit | $41.8M+12.0% | $37.3M+1.1% | $36.9M-7.1% | $39.8M+12.1% | $35.5M-4.8% | $37.2M+11.5% | $33.4M+4.0% | $32.1M |
| R&D Expenses | $5.0M-0.4% | $5.0M+1.3% | $5.0M-1.4% | $5.1M+9.0% | $4.6M-2.1% | $4.7M+10.3% | $4.3M-14.0% | $5.0M |
| SG&A Expenses | $18.8M+5.9% | $17.8M-1.1% | $18.0M-2.8% | $18.5M+5.8% | $17.5M+3.8% | $16.8M-13.5% | $19.4M+10.9% | $17.5M |
| Operating Income | $8.0M+68.8% | $4.7M+54.2% | $3.1M-47.0% | $5.8M+64.7% | $3.5M-37.1% | $5.6M+8428.4% | -$67K-11.7% | -$60K |
| Interest Expense | $3.0M+6.1% | $2.9M+30.2% | $2.2M-22.7% | $2.8M-5.8% | $3.0M+6.2% | $2.8M+53.1% | $1.9M+105.1% | $905K |
| Income Tax | $966K+302.5% | -$477K-121.0% | $2.3M+519.6% | -$541K-240.9% | $384K-25.7% | $517K+404.1% | -$170K-78.9% | -$95K |
| Net Income | $3.6M+46.6% | $2.5M-47.8% | $4.7M+382.9% | -$1.7M-148.9% | $3.4M+1.2% | $3.4M+60.1% | $2.1M+272.0% | -$1.2M |
| EPS (Diluted) | $0.65+44.4% | $0.45-47.1% | $0.85+374.2% | $-0.31-149.2% | $0.63+1.6% | $0.62+59.0% | $0.39+269.6% | $-0.23 |
MLAB Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $434.8M+1.0% | $430.4M-1.2% | $435.7M+0.6% | $433.3M-4.6% | $454.1M+3.1% | $440.4M-40.6% | $741.8M+16.4% | $637.2M |
| Current Assets | $105.6M+8.4% | $97.4M-0.8% | $98.3M-4.3% | $102.7M-4.9% | $108.0M+1.2% | $106.7M-9.9% | $118.4M+0.6% | $117.7M |
| Cash & Equivalents | $29.0M+41.9% | $20.4M-4.0% | $21.3M-22.1% | $27.3M+12.3% | $24.3M-14.5% | $28.5M+0.9% | $28.2M-20.8% | $35.6M |
| Inventory | $26.6M-4.3% | $27.7M-1.3% | $28.1M+10.8% | $25.4M-14.7% | $29.7M-6.4% | $31.8M-11.7% | $36.0M+9.4% | $32.9M |
| Accounts Receivable | $40.2M+0.4% | $40.1M+2.6% | $39.1M-6.9% | $42.0M+4.3% | $40.2M+13.1% | $35.6M-1.3% | $36.0M-0.9% | $36.3M |
| Goodwill | $189.3M+0.4% | $188.5M+0.2% | $188.1M+3.5% | $181.8M-1.1% | $183.8M+2.2% | $179.7M-48.1% | $346.2M+22.2% | $283.3M |
| Total Liabilities | $248.2M-1.5% | $251.9M-4.3% | $263.2M-3.8% | $273.5M-6.5% | $292.6M+1.0% | $289.6M-14.5% | $338.8M+35.8% | $249.4M |
| Current Liabilities | $54.4M+12.6% | $48.3M-67.7% | $149.5M-8.8% | $164.0M+7.0% | $153.2M+179.3% | $54.9M+24.2% | $44.2M+11.0% | $39.8M |
| Long-Term Debt | $68.4M-1.4% | $69.4M-1.3% | $70.3M-2.6% | $72.2M-1.3% | $73.1M-1.3% | $74.1M | N/A | N/A |
| Total Equity | $186.7M+4.6% | $178.5M+3.5% | $172.5M+11.1% | $155.2M-3.9% | $161.5M+7.1% | $150.7M-62.6% | $403.0M+3.9% | $387.8M |
| Retained Earnings | -$180.7M+1.5% | -$183.5M+0.9% | -$185.1M+2.0% | -$188.9M-5.9% | -$178.4M+1.4% | -$181.0M-351.5% | $72.0M+1.8% | $70.7M |
MLAB Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $18.8M+128.1% | $8.2M+334.3% | $1.9M-89.6% | $18.1M+243.9% | $5.3M-50.9% | $10.7M-6.9% | $11.5M+18.0% | $9.8M |
| Capital Expenditures | $732K-33.0% | $1.1M+8.2% | $1.0M+24.1% | $813K-54.5% | $1.8M+100.7% | $891K-21.0% | $1.1M+77.9% | $634K |
| Free Cash Flow | $18.0M+152.8% | $7.1M+706.6% | $884K-94.9% | $17.3M+397.2% | $3.5M-64.6% | $9.9M-5.3% | $10.4M+13.8% | $9.1M |
| Investing Cash Flow | -$732K+33.0% | -$1.1M-8.2% | -$1.0M-24.1% | -$813K+54.5% | -$1.8M-100.7% | -$891K+98.9% | -$80.8M-12648.9% | -$634K |
| Financing Cash Flow | -$9.8M-24.1% | -$7.9M+6.5% | -$8.4M+18.1% | -$10.3M-19.5% | -$8.6M+8.6% | -$9.4M-115.5% | $60.8M+1194.4% | -$5.6M |
| Dividends Paid | $884K+0.2% | $882K+1.0% | $873K+0.5% | $869K+0.3% | $866K+0.3% | $863K+0.1% | $862K0.0% | $862K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MLAB Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.2%+2.7pp | 61.5%-0.6pp | 62.0%-1.2pp | 63.3%+2.0pp | 61.3%-2.7pp | 64.0%+1.6pp | 62.5%+2.1pp | 60.4% |
| Operating Margin | 12.3%+4.5pp | 7.8%+2.6pp | 5.1%-4.0pp | 9.2%+3.1pp | 6.1%-3.5pp | 9.6%+9.7pp | -0.1%-0.0pp | -0.1% |
| Net Margin | 5.6%+1.5pp | 4.1%-3.9pp | 8.0%+10.6pp | -2.7%-8.6pp | 5.9%+0.1pp | 5.8%+1.9pp | 4.0%+6.3pp | -2.3% |
| Return on Equity | 1.9%+0.6pp | 1.4%-1.4pp | 2.8% | N/A | 2.1%-0.1pp | 2.3%+1.7pp | 0.5% | N/A |
| Return on Assets | 0.8%+0.3pp | 0.6%-0.5pp | 1.1%+1.5pp | -0.4%-1.1pp | 0.8%-0.0pp | 0.8%+0.5pp | 0.3%+0.5pp | -0.2% |
| Current Ratio | 1.94-0.1 | 2.02+1.4 | 0.66+0.0 | 0.63-0.1 | 0.70-1.2 | 1.94-0.7 | 2.68-0.3 | 2.96 |
| Debt-to-Equity | 0.37-0.0 | 0.39-0.0 | 0.41-0.1 | 0.47+0.0 | 0.45-0.0 | 0.49-0.3 | 0.84+0.2 | 0.64 |
| FCF Margin | 27.7%+15.9pp | 11.7%+10.3pp | 1.5%-26.1pp | 27.6%+21.5pp | 6.0%-10.9pp | 16.9%-2.5pp | 19.5%+2.3pp | 17.2% |
Note: The current ratio is below 1.0 (0.63), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is Mesa Laboratories's annual revenue?
Mesa Laboratories (MLAB) reported $241.0M in total revenue for fiscal year 2025. This represents a 11.5% 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 Mesa Laboratories's revenue growing?
Mesa Laboratories (MLAB) revenue grew by 11.5% year-over-year, from $216.2M to $241.0M in fiscal year 2025.
Is Mesa Laboratories profitable?
No, Mesa Laboratories (MLAB) reported a net income of -$2.0M in fiscal year 2025, with a net profit margin of -0.8%.
What is Mesa Laboratories's earnings per share (EPS)?
Mesa Laboratories (MLAB) reported diluted earnings per share of $-0.36 for fiscal year 2025. This represents a 99.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Mesa Laboratories's EBITDA?
Mesa Laboratories (MLAB) had EBITDA of $40.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mesa Laboratories have?
As of fiscal year 2025, Mesa Laboratories (MLAB) had $27.3M in cash and equivalents against $71.3M in long-term debt.
What is Mesa Laboratories's gross margin?
Mesa Laboratories (MLAB) had a gross margin of 62.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mesa Laboratories's operating margin?
Mesa Laboratories (MLAB) had an operating margin of 6.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mesa Laboratories's net profit margin?
Mesa Laboratories (MLAB) had a net profit margin of -0.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Mesa Laboratories pay dividends?
Yes, Mesa Laboratories (MLAB) paid $0.64 per share in dividends during fiscal year 2025.
What is Mesa Laboratories's free cash flow?
Mesa Laboratories (MLAB) generated $42.6M in free cash flow during fiscal year 2025. This represents a 2.4% 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 Mesa Laboratories's operating cash flow?
Mesa Laboratories (MLAB) generated $46.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mesa Laboratories's total assets?
Mesa Laboratories (MLAB) had $433.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mesa Laboratories's capital expenditures?
Mesa Laboratories (MLAB) invested $4.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mesa Laboratories spend on research and development?
Mesa Laboratories (MLAB) invested $19.5M in research and development during fiscal year 2025.
How many shares does Mesa Laboratories have outstanding?
Mesa Laboratories (MLAB) had 5M shares outstanding as of fiscal year 2025.
What is Mesa Laboratories's current ratio?
Mesa Laboratories (MLAB) had a current ratio of 0.63 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Mesa Laboratories's debt-to-equity ratio?
Mesa Laboratories (MLAB) had a debt-to-equity ratio of 0.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mesa Laboratories's return on assets (ROA)?
Mesa Laboratories (MLAB) had a return on assets of -0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mesa Laboratories's Altman Z-Score?
Mesa Laboratories (MLAB) has an Altman Z-Score of 1.00, placing it in the Distress Zone (elevated 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 Mesa Laboratories's Piotroski F-Score?
Mesa Laboratories (MLAB) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 Mesa Laboratories's earnings high quality?
Mesa Laboratories (MLAB) has an earnings quality ratio of -23.71x, considered mixed 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 Mesa Laboratories cover its interest payments?
Mesa Laboratories (MLAB) has an interest coverage ratio of 1.4x, meaning it can struggle to 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 Mesa Laboratories?
Mesa Laboratories (MLAB) scores 57 out of 100 on our Financial Profile, indicating moderate 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.