IDEXX LABORATORIES INC (IDXX) Stock Fundamental Analysis
NASDAQ:IDXX - Nasdaq - US45168D1046 - Common Stock - Currency: USD
Taking everything into account, IDXX scores 6 out of 10 in our fundamental rating. IDXX was compared to 190 industry peers in the Health Care Equipment & Supplies industry. IDXX has an excellent profitability rating, but there are some minor concerns on its financial health. While showing a medium growth rate, IDXX is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
IDXX had positive earnings in the past year.
In the past year IDXX had a positive cash flow from operations.
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
IDXX has a better Return On Assets (26.96%) than 98.94% of its industry peers.
IDXX has a Return On Equity of 55.65%. This is amongst the best in the industry. IDXX outperforms 100.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 36.38%, IDXX belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for IDXX is significantly above the industry average of 8.19%.
The last Return On Invested Capital (36.38%) for IDXX is above the 3 year average (35.03%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.96% | ||
| ROE | 55.65% | ||
| ROIC | 36.38% |
ROA(3y)25.87%
ROA(5y)26.7%
ROE(3y)74.71%
ROE(5y)84.83%
ROIC(3y)35.03%
ROIC(5y)36.04%
1.3 Margins
With an excellent Profit Margin value of 22.78%, IDXX belongs to the best of the industry, outperforming 94.68% of the companies in the same industry.
In the last couple of years the Profit Margin of IDXX has grown nicely.
Looking at the Operating Margin, with a value of 28.95%, IDXX belongs to the top of the industry, outperforming 97.34% of the companies in the same industry.
In the last couple of years the Operating Margin of IDXX has grown nicely.
IDXX has a better Gross Margin (61.04%) than 61.70% of its industry peers.
IDXX's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.95% | ||
| PM (TTM) | 22.78% | ||
| GM | 61.04% |
OM growth 3Y-0.12%
OM growth 5Y4.7%
PM growth 3Y-0.55%
PM growth 5Y5.09%
GM growth 3Y1.27%
GM growth 5Y1.47%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), IDXX is creating value.
IDXX has less shares outstanding than it did 1 year ago.
IDXX has less shares outstanding than it did 5 years ago.
The debt/assets ratio for IDXX has been reduced compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of IDXX is 1.07, which is an excellent value as it means it would take IDXX, only 1.07 years of fcf income to pay off all of its debts.
IDXX's Debt to FCF ratio of 1.07 is amongst the best of the industry. IDXX outperforms 90.96% of its industry peers.
IDXX has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
IDXX has a Debt to Equity ratio of 0.44. This is comparable to the rest of the industry: IDXX outperforms 40.96% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | 1.07 | ||
| Altman-Z | N/A |
ROIC/WACC4.07
WACC8.94%
2.3 Liquidity
A Current Ratio of 1.31 indicates that IDXX should not have too much problems paying its short term obligations.
IDXX's Current ratio of 1.31 is on the low side compared to the rest of the industry. IDXX is outperformed by 82.45% of its industry peers.
IDXX has a Quick Ratio of 1.31. This is a bad value and indicates that IDXX is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.95, IDXX is not doing good in the industry: 80.32% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.31 | ||
| Quick Ratio | 0.95 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 11.72% 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 18.18% yearly.
Looking at the last year, IDXX shows a small growth in Revenue. The Revenue has grown by 6.46% in the last year.
The Revenue has been growing by 10.12% on average over the past years. This is quite good.
EPS 1Y (TTM)11.72%
EPS 3Y9.32%
EPS 5Y18.18%
EPS Q2Q%12.93%
Revenue 1Y (TTM)6.46%
Revenue growth 3Y6.62%
Revenue growth 5Y10.12%
Sales Q2Q%5.84%
3.2 Future
IDXX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.65% yearly.
The Revenue is expected to grow by 7.65% on average over the next years.
EPS Next Y8.68%
EPS Next 2Y10.98%
EPS Next 3Y11.72%
EPS Next 5Y10.65%
Revenue Next Year6.44%
Revenue Next 2Y7.4%
Revenue Next 3Y7.95%
Revenue Next 5Y7.65%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
IDXX is valuated quite expensively with a Price/Earnings ratio of 40.25.
70.21% of the companies in the same industry are more expensive than IDXX, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 29.63, IDXX is valued a bit more expensive.
With a Price/Forward Earnings ratio of 37.03, IDXX can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Forward Earnings ratio of IDXX indicates a somewhat cheap valuation: IDXX is cheaper than 71.28% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.68. IDXX is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 40.25 | ||
| Fwd PE | 37.03 |
4.2 Price Multiples
75.53% 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 | 45.88 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
IDXX has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)4.64
PEG (5Y)2.21
EPS Next 2Y10.98%
EPS Next 3Y11.72%
5. Dividend
5.1 Amount
IDXX does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
452.77
-0.09 (-0.02%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners96.26%
Inst Owner Change-2.69%
Ins Owners0.22%
Ins Owner Change-49.7%
Market Cap37.07B
Analysts77.14
Price Target499.57 (10.34%)
Short Float %2.41%
Short Ratio2.97
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.69%
Min EPS beat(2)2.49%
Max EPS beat(2)6.89%
EPS beat(4)4
Avg EPS beat(4)3.83%
Min EPS beat(4)2.49%
Max EPS beat(4)6.89%
EPS beat(8)8
Avg EPS beat(8)4.58%
EPS beat(12)10
Avg EPS beat(12)3.35%
EPS beat(16)14
Avg EPS beat(16)6.29%
Revenue beat(2)1
Avg Revenue beat(2)-1.13%
Min Revenue beat(2)-2.33%
Max Revenue beat(2)0.06%
Revenue beat(4)1
Avg Revenue beat(4)-1.65%
Min Revenue beat(4)-2.33%
Max Revenue beat(4)0.06%
Revenue beat(8)1
Avg Revenue beat(8)-1.58%
Revenue beat(12)1
Avg Revenue beat(12)-1.59%
Revenue beat(16)4
Avg Revenue beat(16)-0.79%
PT rev (1m)0%
PT rev (3m)-8.28%
EPS NQ rev (1m)-4.49%
EPS NQ rev (3m)-8.14%
EPS NY rev (1m)0.03%
EPS NY rev (3m)0.19%
Revenue NQ rev (1m)-1.83%
Revenue NQ rev (3m)-5.81%
Revenue NY rev (1m)-0.68%
Revenue NY rev (3m)-0.45%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 40.25 | ||
| Fwd PE | 37.03 | ||
| P/S | 9.51 | ||
| P/FCF | 45.88 | ||
| P/OCF | 39.91 | ||
| P/B | 23.24 | ||
| P/tB | 23.24 | ||
| EV/EBITDA | N/A |
EPS(TTM)11.25
EY2.48%
EPS(NY)12.23
Fwd EY2.7%
FCF(TTM)9.87
FCFY2.18%
OCF(TTM)11.35
OCFY2.51%
SpS47.6
BVpS19.48
TBVpS19.48
PEG (NY)4.64
PEG (5Y)2.21
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.96% | ||
| ROE | 55.65% | ||
| ROCE | 50.7% | ||
| ROIC | 36.38% | ||
| ROICexc | 41.17% | ||
| ROICexgc | 41.17% | ||
| OM | 28.95% | ||
| PM (TTM) | 22.78% | ||
| GM | 61.04% | ||
| FCFM | 20.73% |
ROA(3y)25.87%
ROA(5y)26.7%
ROE(3y)74.71%
ROE(5y)84.83%
ROIC(3y)35.03%
ROIC(5y)36.04%
ROICexc(3y)39.75%
ROICexc(5y)41.51%
ROICexgc(3y)47.2%
ROICexgc(5y)52.1%
ROCE(3y)52.66%
ROCE(5y)50.88%
ROICexcg growth 3Y-14.19%
ROICexcg growth 5Y-1.27%
ROICexc growth 3Y-3.99%
ROICexc growth 5Y3.99%
OM growth 3Y-0.12%
OM growth 5Y4.7%
PM growth 3Y-0.55%
PM growth 5Y5.09%
GM growth 3Y1.27%
GM growth 5Y1.47%
F-Score8
Asset Turnover1.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | 1.07 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | 3.1% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 91.01% | ||
| Current Ratio | 1.31 | ||
| Quick Ratio | 0.95 | ||
| Altman-Z | N/A |
F-Score8
WACC8.94%
ROIC/WACC4.07
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)3.82%
Cap/Sales(5y)3.83%
Profit Quality(3y)79.68%
Profit Quality(5y)83.46%
High Growth Momentum
Growth
EPS 1Y (TTM)11.72%
EPS 3Y9.32%
EPS 5Y18.18%
EPS Q2Q%12.93%
EPS Next Y8.68%
EPS Next 2Y10.98%
EPS Next 3Y11.72%
EPS Next 5Y10.65%
Revenue 1Y (TTM)6.46%
Revenue growth 3Y6.62%
Revenue growth 5Y10.12%
Sales Q2Q%5.84%
Revenue Next Year6.44%
Revenue Next 2Y7.4%
Revenue Next 3Y7.95%
Revenue Next 5Y7.65%
EBIT growth 1Y2.85%
EBIT growth 3Y6.5%
EBIT growth 5Y15.29%
EBIT Next Year25.79%
EBIT Next 3Y15.05%
EBIT Next 5Y11.58%
FCF growth 1Y4.55%
FCF growth 3Y8.31%
FCF growth 5Y21.6%
OCF growth 1Y2.48%
OCF growth 3Y7.13%
OCF growth 5Y15.13%