IDEXX LABORATORIES INC (IDXX)

US45168D1046 - Common Stock

412.26  +3.23 (+0.79%)

After market: 412.26 0 (0%)

Fundamental Rating

7

IDXX gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 187 industry peers in the Health Care Equipment & Supplies industry. IDXX scores excellent points on both the profitability and health parts. This is a solid base for a good stock. IDXX has a decent growth rate and is not valued too expensively. This makes IDXX very considerable for quality investing!



9

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.
In the past 5 years IDXX has always been profitable.
IDXX had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

IDXX has a Return On Assets of 25.85%. This is amongst the best in the industry. IDXX outperforms 98.93% of its industry peers.
Looking at the Return On Equity, with a value of 53.54%, IDXX belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 34.02%, 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%.
Industry RankSector 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

IDXX has a Profit Margin of 22.53%. This is amongst the best in the industry. IDXX outperforms 94.12% of its industry peers.
IDXX's Profit Margin has improved in the last couple of years.
With an excellent Operating Margin value of 28.92%, IDXX belongs to the best of the industry, outperforming 96.79% of the companies in the same industry.
IDXX's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 60.72%, IDXX is in the better half of the industry, outperforming 60.43% of the companies in the same industry.
IDXX's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%

8

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.
IDXX has about the same amout of shares outstanding than it did 1 year ago.
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

An Altman-Z score of 16.22 indicates that IDXX is not in any danger for bankruptcy at the moment.
The Altman-Z score of IDXX (16.22) is better than 91.98% of its industry peers.
The Debt to FCF ratio of IDXX is 1.10, which is an excellent value as it means it would take IDXX, only 1.10 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 1.10, IDXX belongs to the top of the industry, outperforming 90.91% 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.
Even though the debt/equity ratio score it not favorable for IDXX, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 1.1
Altman-Z 16.22
ROIC/WACC3.8
WACC8.95%

2.3 Liquidity

A Current Ratio of 1.42 indicates that IDXX should not have too much problems paying its short term obligations.
With a Current ratio value of 1.42, IDXX is not doing good in the industry: 79.68% of the companies in the same industry are doing better.
A Quick Ratio of 1.03 indicates that IDXX should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.03, IDXX is not doing good in the industry: 77.01% 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 RankSector Rank
Current Ratio 1.42
Quick Ratio 1.03

6

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 11.73% over the past year.
Measured over the past years, IDXX shows a quite strong growth in Earnings Per Share. The EPS has been growing by 18.72% on average per year.
IDXX shows a small growth in Revenue. In the last year, the Revenue has grown by 7.16%.
IDXX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.59% yearly.
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

The Earnings Per Share is expected to grow by 10.80% on average over the next years. This is quite good.
IDXX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.13% yearly.
EPS Next Y6.88%
EPS Next 2Y10.17%
EPS Next 3Y11.14%
EPS Next 5Y10.8%
Revenue Next Year6.34%
Revenue Next 2Y6.8%
Revenue Next 3Y7.38%
Revenue Next 5Y8.13%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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 decreasing.

4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 37.65, the valuation of IDXX can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of IDXX indicates a somewhat cheap valuation: IDXX is cheaper than 70.05% 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 27.20.
A Price/Forward Earnings ratio of 33.73 indicates a quite expensive valuation of IDXX.
IDXX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. IDXX is cheaper than 72.73% of the companies in the same industry.
IDXX is valuated rather expensively when we compare the Price/Forward Earnings ratio to 23.73, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 37.65
Fwd PE 33.73

4.2 Price Multiples

72.73% of the companies in the same industry are more expensive than IDXX, based on the Enterprise Value to EBITDA ratio.
78.61% of the companies in the same industry are more expensive than IDXX, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 42.59
EV/EBITDA 27.52

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)5.48
PEG (5Y)2.01
EPS Next 2Y10.17%
EPS Next 3Y11.14%

0

5. Dividend

5.1 Amount

No dividends for IDXX!.
Industry RankSector Rank
Dividend Yield N/A

IDEXX LABORATORIES INC

NASDAQ:IDXX (12/20/2024, 8:17:56 PM)

After market: 412.26 0 (0%)

412.26

+3.23 (+0.79%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)10-31 2024-10-31/bmo
Earnings (Next)02-03 2025-02-03/amc
Inst Owners96.26%
Inst Owner Change-2.03%
Ins Owners0.22%
Ins Owner Change-49.41%
Market Cap33.76B
Analysts74
Price Target495.39 (20.16%)
Short Float %1.48%
Short Ratio1.76
Dividend
Industry RankSector Rank
Dividend Yield N/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)2.67%
Min EPS beat(2)2.49%
Max EPS beat(2)2.84%
EPS beat(4)4
Avg EPS beat(4)3.94%
Min EPS beat(4)2.49%
Max EPS beat(4)7.31%
EPS beat(8)8
Avg EPS beat(8)4.15%
EPS beat(12)10
Avg EPS beat(12)3.48%
EPS beat(16)14
Avg EPS beat(16)8.43%
Revenue beat(2)0
Avg Revenue beat(2)-2.26%
Min Revenue beat(2)-2.33%
Max Revenue beat(2)-2.19%
Revenue beat(4)0
Avg Revenue beat(4)-1.87%
Min Revenue beat(4)-2.33%
Max Revenue beat(4)-0.82%
Revenue beat(8)0
Avg Revenue beat(8)-1.72%
Revenue beat(12)1
Avg Revenue beat(12)-1.55%
Revenue beat(16)4
Avg Revenue beat(16)-0.56%
PT rev (1m)-9.05%
PT rev (3m)-11.42%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-9.32%
EPS NY rev (1m)-0.02%
EPS NY rev (3m)0.42%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.19%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)-0.88%
Valuation
Industry RankSector Rank
PE 37.65
Fwd PE 33.73
P/S 8.78
P/FCF 42.59
P/OCF 36.82
P/B 20.86
P/tB 30.71
EV/EBITDA 27.52
EPS(TTM)10.95
EY2.66%
EPS(NY)12.22
Fwd EY2.96%
FCF(TTM)9.68
FCFY2.35%
OCF(TTM)11.2
OCFY2.72%
SpS46.96
BVpS19.76
TBVpS13.42
PEG (NY)5.48
PEG (5Y)2.01
Profitability
Industry RankSector Rank
ROA 25.85%
ROE 53.54%
ROCE 47.49%
ROIC 34.02%
ROICexc 38.62%
ROICexgc 49.99%
OM 28.92%
PM (TTM) 22.53%
GM 60.72%
FCFM 20.61%
ROA(3y)27.07%
ROA(5y)25.98%
ROE(3y)92.14%
ROE(5y)121.89%
ROIC(3y)36.89%
ROIC(5y)34.87%
ROICexc(3y)41.26%
ROICexc(5y)39.79%
ROICexgc(3y)54.84%
ROICexgc(5y)52.3%
ROCE(3y)54.37%
ROCE(5y)50.75%
ROICexcg growth 3Y-0.47%
ROICexcg growth 5Y0.97%
ROICexc growth 3Y-0.1%
ROICexc growth 5Y1.82%
OM growth 3Y5.32%
OM growth 5Y5.96%
PM growth 3Y2.4%
PM growth 5Y6.27%
GM growth 3Y1.01%
GM growth 5Y1.29%
F-Score6
Asset Turnover1.15
Health
Industry RankSector Rank
Debt/Equity 0.48
Debt/FCF 1.1
Debt/EBITDA 0.63
Cap/Depr 98.62%
Cap/Sales 3.23%
Interest Coverage 250
Cash Conversion 74.06%
Profit Quality 91.5%
Current Ratio 1.42
Quick Ratio 1.03
Altman-Z 16.22
F-Score6
WACC8.95%
ROIC/WACC3.8
Cap/Depr(3y)124.15%
Cap/Depr(5y)132.24%
Cap/Sales(3y)4.03%
Cap/Sales(5y)4.5%
Profit Quality(3y)77.81%
Profit Quality(5y)79.47%
High Growth Momentum
Growth
EPS 1Y (TTM)11.73%
EPS 3Y14.49%
EPS 5Y18.72%
EPS Q2Q%10.67%
EPS Next Y6.88%
EPS Next 2Y10.17%
EPS Next 3Y11.14%
EPS Next 5Y10.8%
Revenue 1Y (TTM)7.16%
Revenue growth 3Y10.59%
Revenue growth 5Y10.59%
Sales Q2Q%6.56%
Revenue Next Year6.34%
Revenue Next 2Y6.8%
Revenue Next 3Y7.38%
Revenue Next 5Y8.13%
EBIT growth 1Y3.12%
EBIT growth 3Y16.47%
EBIT growth 5Y17.18%
EBIT Next Year19.04%
EBIT Next 3Y12.56%
EBIT Next 5Y10.28%
FCF growth 1Y80.87%
FCF growth 3Y12.68%
FCF growth 5Y22.76%
OCF growth 1Y58.2%
OCF growth 3Y11.83%
OCF growth 5Y17.77%