IDEXX LABORATORIES INC (IDXX)
US45168D1046 - Common Stock
Overall IDXX gets a fundamental rating of 7 out of 10. We evaluated IDXX against 188 industry peers in the Health Care Equipment & Supplies industry. Both the health and profitability get an excellent rating, making IDXX a very profitable company, without any liquidiy or solvency issues. IDXX has a decent growth rate and is not valued too expensively. This makes IDXX very considerable for quality investing!
1. Profitability
1.1 Basic Checks
IDXX had positive earnings in the past year.
IDXX had a positive operating cash flow in the past year.
IDXX had positive earnings in each of the past 5 years.
In the past 5 years IDXX always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of IDXX (25.85%) is better than 98.93% of its industry peers.
IDXX's Return On Equity of 53.54% is amongst the best of the industry. IDXX outperforms 100.00% of its industry peers.
IDXX has a better Return On Invested Capital (34.02%) than 100.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for IDXX is significantly above the industry average of 8.23%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 25.85% | ||
| ROE | 53.54% | ||
| ROIC | 34.02% |
ROA(3y)27.07%
ROA(5y)25.98%
ROE(3y)92.14%
ROE(5y)121.89%
ROIC(3y)36.89%
ROIC(5y)34.87%
1.3 Margins
The Profit Margin of IDXX (22.53%) is better than 94.65% of its industry peers.
In the last couple of years the Profit Margin of IDXX has grown nicely.
IDXX's Operating Margin of 28.92% is amongst the best of the industry. IDXX outperforms 96.79% of its industry peers.
IDXX's Operating Margin has improved in the last couple of years.
IDXX has a better Gross Margin (60.72%) than 60.96% of its industry peers.
In the last couple of years the Gross Margin of IDXX has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.92% | ||
| PM (TTM) | 22.53% | ||
| GM | 60.72% |
OM growth 3Y5.32%
OM growth 5Y5.96%
PM growth 3Y2.4%
PM growth 5Y6.27%
GM growth 3Y1.01%
GM growth 5Y1.29%
2. Health
2.1 Basic Checks
IDXX has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
Compared to 1 year ago, IDXX has about the same amount of shares outstanding.
The number of shares outstanding for IDXX has been reduced compared to 5 years ago.
The debt/assets ratio for IDXX has been reduced compared to a year ago.
2.2 Solvency
IDXX has an Altman-Z score of 16.40. This indicates that IDXX is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 16.40, IDXX belongs to the best of the industry, outperforming 91.44% of the companies in the same industry.
IDXX has a debt to FCF ratio of 1.10. This is a very positive value and a sign of high solvency as it would only need 1.10 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 1.10, IDXX belongs to the best of the industry, outperforming 89.84% of the companies in the same industry.
A Debt/Equity ratio of 0.48 indicates that IDXX is not too dependend on debt financing.
The Debt to Equity ratio of IDXX (0.48) is worse than 61.50% of its industry peers.
Although IDXX does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.48 | ||
| Debt/FCF | 1.1 | ||
| Altman-Z | 16.4 |
ROIC/WACC3.84
WACC8.85%
2.3 Liquidity
IDXX has a Current Ratio of 1.42. This is a normal value and indicates that IDXX is financially healthy and should not expect problems in meeting its short term obligations.
IDXX has a worse Current ratio (1.42) than 80.75% of its industry peers.
IDXX has a Quick Ratio of 1.03. This is a normal value and indicates that IDXX is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.03, IDXX is not doing good in the industry: 77.54% of the companies in the same industry are doing better.
The current and quick ratio evaluation for IDXX is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.42 | ||
| Quick Ratio | 1.03 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 11.73% over the past year.
IDXX shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.72% yearly.
IDXX shows a small growth in Revenue. In the last year, the Revenue has grown by 7.16%.
Measured over the past years, IDXX shows a quite strong growth in Revenue. The Revenue has been growing by 10.59% on average per year.
EPS 1Y (TTM)11.73%
EPS 3Y14.49%
EPS 5Y18.72%
EPS Q2Q%10.67%
Revenue 1Y (TTM)7.16%
Revenue growth 3Y10.59%
Revenue growth 5Y10.59%
Sales Q2Q%6.56%
3.2 Future
Based on estimates for the next years, IDXX will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.07% on average per year.
IDXX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.18% yearly.
EPS Next Y6.9%
EPS Next 2Y10.08%
EPS Next 3Y11.41%
EPS Next 5Y12.07%
Revenue Next Year6.29%
Revenue Next 2Y6.63%
Revenue Next 3Y7.32%
Revenue Next 5Y9.18%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 38.22, IDXX can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of IDXX indicates a somewhat cheap valuation: IDXX is cheaper than 70.59% of the companies listed in the same industry.
IDXX's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 28.96.
The Price/Forward Earnings ratio is 34.30, which means the current valuation is very expensive for IDXX.
Based on the Price/Forward Earnings ratio, IDXX is valued a bit cheaper than the industry average as 72.73% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.82, IDXX is valued a bit more expensive.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 38.22 | ||
| Fwd PE | 34.3 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, IDXX is valued a bit cheaper than 73.80% of the companies in the same industry.
80.21% of the companies in the same industry are more expensive than IDXX, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 43.24 | ||
| EV/EBITDA | 27.94 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates IDXX does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of IDXX may justify a higher PE ratio.
PEG (NY)5.54
PEG (5Y)2.04
EPS Next 2Y10.08%
EPS Next 3Y11.41%
5. Dividend
5.1 Amount
IDXX does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
IDEXX LABORATORIES INC
NASDAQ:IDXX (11/21/2024, 8:00:02 PM)
After market: 418.55 0 (0%)418.55
-0.06 (-0.01%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap34.27B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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Min EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 38.22 | ||
| Fwd PE | 34.3 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)5.54
PEG (5Y)2.04
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 25.85% | ||
| ROE | 53.54% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 28.92% | ||
| PM (TTM) | 22.53% | ||
| GM | 60.72% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover1.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.48 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.42 | ||
| Quick Ratio | 1.03 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)11.73%
EPS 3Y14.49%
EPS 5Y
EPS Q2Q%
EPS Next Y6.9%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)7.16%
Revenue growth 3Y10.59%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y