IDEXX Laboratories, Inc. (IDXX) Key Metrics
IDXX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $44.20B
- Enterprise value
- $41.98B
- P/E (TTM)
- 39.8 10-yr median 52.4
- Forward P/E
- 31.4
- PEG ratio
- 2.85
- Price / sales
- 9.7 10-yr median 9.9
- Price / book
- 25.5 10-yr median 56.7
- EV / EBITDA
- 26.0 10-yr median 36.1
- Dividend yield
- —
- Beta
- 1.55
IDXX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsIDXX valuation Price multiples at each fiscal year-end price.
IDXX returns How much profit the business earns on the capital it uses.
IDXX per-share figures Results divided by the shares outstanding at year-end.
IDXX financial health Debt, liquidity and how easily interest is covered.
IDXX efficiency & capital use Working capital cycle and where the cash goes.
IDXX valuation history
IDXX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
IDXX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
IDXX cash returned to shareholders
IDXX price vs earnings per share
IDXX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $54.58B | $34.34B | $46.61B | $34.51B | $57.00B | $43.35B | $22.86B | $16.46B | $14.01B | $10.66B |
| Enterprise value | $55.48B | $34.32B | $47.23B | $35.87B | $57.89B | $43.97B | $23.84B | $17.33B | $14.80B | $11.47B |
| P/E ratio | 51.5 | 38.7 | 55.2 | 50.8 | 76.5 | 74.5 | 53.4 | 43.6 | 53.2 | 48.0 |
| Price / sales | 12.7 | 8.8 | 12.7 | 10.2 | 17.7 | 16.0 | 9.5 | 7.4 | 7.1 | 6.0 |
| Price / book | 34.0 | 21.5 | 31.4 | 56.7 | 82.6 | 68.6 | 128.8 | — | — | — |
| Price / free cash flow | 51.8 | 43.0 | 60.3 | 87.6 | 89.6 | 80.2 | 75.2 | 59.4 | 47.2 | 39.5 |
| Price / operating cash flow | 46.3 | 37.0 | 51.4 | 63.6 | 75.4 | 66.9 | 49.8 | 41.1 | 37.5 | 31.9 |
| EV / sales | 12.9 | 8.8 | 12.9 | 10.7 | 18.0 | 16.2 | 9.9 | 7.8 | 7.5 | 6.5 |
| EV / EBITDA | 36.8 | 26.9 | 43.0 | 35.5 | 55.8 | 55.6 | 37.2 | 30.2 | 29.8 | 26.8 |
| EV / free cash flow | 52.7 | 43.0 | 61.1 | 91.0 | 91.0 | 81.4 | 78.4 | 62.5 | 49.9 | 42.5 |
| Earnings yield | 1.9% | 2.6% | 1.8% | 2.0% | 1.3% | 1.3% | 1.9% | 2.3% | 1.9% | 2.1% |
| Free cash flow yield | 1.9% | 2.3% | 1.7% | 1.1% | 1.1% | 1.2% | 1.3% | 1.7% | 2.1% | 2.5% |
| Dividend yield | — | — | — | — | 0.1% | 0.1% | 0.2% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 2.2% | 2.4% | 0.2% | 2.4% | 1.4% | 0.5% | 1.5% | 2.2% | 2.1% | 2.9% |
| Share price at fiscal year-end | $676.53 | $413.44 | $555.05 | $407.96 | $658.46 | $499.87 | $261.13 | $186.02 | $156.38 | $117.27 |
| Per share | ||||||||||
| Revenue per share | $53.35 | $46.93 | $43.59 | $39.80 | $37.14 | $31.21 | $27.49 | $25.02 | $21.98 | $19.54 |
| Earnings per share | $13.13 | $10.69 | $10.06 | $8.03 | $8.60 | $6.71 | $4.89 | $4.26 | $2.94 | $2.44 |
| Operating cash flow per share | $14.60 | $11.19 | $10.79 | $6.42 | $8.73 | $7.47 | $5.25 | $4.52 | $4.17 | $3.68 |
| Free cash flow per share | $13.06 | $9.61 | $9.20 | $4.66 | $7.35 | $6.23 | $3.47 | $3.13 | $3.31 | $2.97 |
| Cash per share | $2.23 | $3.47 | $5.41 | $1.33 | $1.67 | $4.43 | $1.03 | $1.40 | $5.27 | $4.31 |
| Book value per share | $19.90 | $19.21 | $17.68 | $7.20 | $7.97 | $7.29 | $2.03 | −$0.11 | −$0.60 | −$1.19 |
| Tangible book value per share | $13.41 | $12.99 | $12.31 | $1.76 | $2.68 | $3.88 | −$1.38 | −$3.00 | −$3.33 | −$3.66 |
| Dividends per share | — | — | — | — | $0.54 | $0.59 | $0.41 | — | $0.00 | $0.00 |
| Capex per share | $1.55 | $1.58 | $1.59 | $1.76 | $1.38 | $1.24 | $1.77 | $1.39 | $0.86 | $0.71 |
| Debt per share | $13.35 | $3.20 | $12.71 | $17.38 | $11.91 | $11.57 | $12.23 | $11.31 | $14.08 | $13.25 |
| Shares outstanding | 80.7M | 83.1M | 84.0M | 84.6M | 86.6M | 86.7M | 87.5M | 88.5M | 89.6M | 90.9M |
| Change in shares outstanding | −2.9% | −1.1% | −0.7% | −2.3% | −0.2% | −0.9% | −1.0% | −1.2% | −1.4% | −3.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 66.2% | 57.7% | 80.7% | 104.6% | 112.7% | 143.7% | 509.3% | — | — | — |
| Return on invested capital (ROIC) | 53.4% | 49.2% | 43.0% | 40.1% | 54.4% | 50.7% | 44.7% | 50.5% | 39.7% | 33.4% |
| Return on assets (ROA) | 31.9% | 27.1% | 28.1% | 26.2% | 31.5% | 28.2% | 25.4% | 23.2% | 16.2% | 14.8% |
| Return on tangible assets | 37.5% | 32.0% | 30.1% | 29.7% | 37.6% | 29.1% | 27.9% | 29.4% | 17.9% | 17.0% |
| Free cash flow margin | 24.5% | 20.5% | 21.1% | 11.7% | 19.8% | 20.0% | 12.6% | 12.5% | 15.1% | 15.2% |
| Income quality (OCF / net income) | 1.11 | 1.05 | 1.07 | 0.80 | 1.01 | 1.11 | 1.07 | 1.06 | 1.42 | 1.51 |
| Financial health | ||||||||||
| Total debt | $1.08B | $265.6M | $1.07B | $1.47B | $1.03B | $1.00B | $1.07B | $1.00B | $1.26B | $1.20B |
| Cash & short-term investments | $180.1M | $288.3M | $453.9M | $112.5M | $144.5M | $383.9M | $90.3M | $123.8M | $471.9M | $391.9M |
| Net debt | $897.1M | −$22.6M | $613.4M | $1.36B | $886.6M | $619.3M | $980.1M | $876.5M | $789.1M | $812.3M |
| Debt / equity | 0.67 | 0.17 | 0.72 | 2.41 | 1.49 | 1.59 | 6.03 | — | — | — |
| Debt / assets | 0.32 | 0.08 | 0.33 | 0.54 | 0.42 | 0.44 | 0.58 | 0.65 | 0.74 | 0.79 |
| Net debt / EBITDA | 0.60 | −0.02 | 0.56 | 1.34 | 0.86 | 0.78 | 1.53 | 1.53 | 1.59 | 1.90 |
| Current ratio | 1.17 | 1.31 | 1.57 | 0.89 | 1.25 | 1.82 | 0.94 | 0.85 | 0.97 | 0.90 |
| Quick ratio | 0.84 | 0.95 | 1.17 | 0.59 | 0.90 | 1.46 | 0.67 | 0.62 | 0.80 | 0.74 |
| Interest coverage | 35.5 | 36.2 | 30.5 | 23.2 | 31.7 | 21.3 | 18.1 | 14.6 | 12.9 | 12.3 |
| Working capital | $191.4M | $332.0M | $543.7M | −$134.3M | $192.1M | $480.0M | −$45.7M | −$116.3M | −$32.6M | −$89.0M |
| Invested capital | $2.50B | $1.57B | $2.10B | $1.97B | $1.58B | $1.25B | $1.16B | $867.0M | $735.0M | $703.9M |
| Tangible asset value | $1.08B | $1.08B | $1.03B | $149.3M | $231.6M | $336.9M | −$120.4M | −$265.5M | −$297.6M | −$332.6M |
| Net current asset value | −$405.1M | −$298.2M | −$280.1M | −$1.04B | −$791.6M | −$599.0M | −$975.0M | −$892.4M | −$795.3M | −$793.3M |
| Graham number | $76.68 | $67.97 | $63.26 | $36.05 | $39.28 | $33.17 | $14.93 | — | — | — |
| Graham net-net per share | −$10.62 | −$10.40 | −$8.74 | −$17.42 | −$13.27 | −$10.28 | −$14.12 | −$12.91 | −$11.28 | −$10.94 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $46.6M | $51.3M | $36.1M | — | $0 | $0 |
| Share buybacks (net) | $1.22B | $837.0M | $71.9M | $819.7M | $746.8M | $182.8M | $301.7M | $369.3M | $290.6M | $304.1M |
| Dividend payout ratio | — | — | — | — | 6.3% | 8.8% | 8.4% | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 115.5% | 104.9% | 9.3% | 208.0% | 124.7% | 43.3% | 111.1% | 133.3% | 98.0% | 112.7% |
| Capex / revenue | 2.9% | 3.4% | 3.7% | 4.4% | 3.7% | 4.0% | 6.4% | 5.6% | 3.9% | 3.6% |
| Capex / operating cash flow | 10.6% | 14.1% | 14.7% | 27.4% | 15.8% | 16.6% | 33.8% | 30.7% | 20.5% | 19.4% |
| Capex / depreciation | 0.86 | 1.01 | 1.16 | 1.33 | 1.14 | 1.12 | 1.76 | 1.48 | 0.92 | 0.83 |
| Stock-based compensation / revenue | 1.4% | 1.5% | 1.6% | 1.5% | 1.2% | 1.1% | 1.6% | 1.1% | 1.2% | 1.1% |
| R&D / revenue | 5.8% | 5.6% | 5.2% | 7.6% | 5.0% | 5.2% | 5.5% | 5.3% | 5.5% | 5.7% |
| SG&A / revenue | 24.4% | 26.4% | 24.6% | 25.3% | 24.8% | 27.2% | 28.2% | 28.6% | 29.2% | 29.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 49.5 | 47.0 | 50.9 | 49.7 | 45.4 | 46.0 | 42.9 | 43.6 | 46.5 | 44.4 |
| Days of inventory on hand | 84.3 | 91.6 | 92.8 | 85.3 | 65.9 | 65.1 | 64.5 | 63.4 | 67.5 | 79.1 |
| Days payables outstanding | 24.9 | 27.0 | 27.4 | 30.3 | 26.2 | 23.6 | 24.8 | 25.6 | 26.6 | 25.7 |
| Cash conversion cycle (days) | 108.9 | 111.5 | 116.3 | 104.6 | 85.1 | 87.5 | 82.6 | 81.4 | 87.4 | 97.9 |
| Receivables turnover | 7.38 | 7.77 | 7.18 | 7.35 | 8.04 | 7.93 | 8.50 | 8.37 | 7.84 | 8.21 |
| Payables turnover | 14.64 | 13.51 | 13.32 | 12.04 | 13.91 | 15.48 | 14.70 | 14.24 | 13.72 | 14.20 |
| Inventory turnover | 4.33 | 3.98 | 3.93 | 4.28 | 5.54 | 5.61 | 5.65 | 5.76 | 5.41 | 4.61 |
| Asset turnover | 1.30 | 1.19 | 1.22 | 1.30 | 1.36 | 1.31 | 1.43 | 1.36 | 1.21 | 1.18 |
| Average receivables | $583.4M | $501.6M | $510.2M | $458.2M | $400.2M | $341.1M | $283.0M | $264.3M | $251.1M | $216.1M |
| Average payables | $112.3M | $112.4M | $110.4M | $113.2M | $95.3M | $73.4M | $70.9M | $68.3M | $63.5M | $56.4M |
| Average inventory | $379.8M | $381.1M | $374.1M | $318.4M | $239.5M | $202.4M | $184.2M | $168.8M | $161.2M | $173.4M |
| Intangibles / total assets | 15.6% | 15.7% | 13.8% | 16.7% | 18.8% | 12.9% | 16.3% | 16.7% | 14.2% | 14.7% |
Computed from IDXX's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
IDXX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), IDEXX traded at 51.5 times earnings, against a 10-year median of 52.4. Based on the latest twelve months, the trailing P/E is 39.8 and the forward P/E is 31.4. IDEXX earned a return on equity of 66.2% and a return on invested capital of 53.4% in fiscal 2025. It ended the year with $1.1 billion of debt and $180.1 million in cash and short-term investments, net debt of $897.1 million. It returned $1.2 billion to shareholders: $0 in dividends and $1.2 billion in share buybacks, 116% of free cash flow. The share count fell 11.2% from 90.9M to 80.7M over 9 years.
See the IDXX income statement, the IDXX chart for price history, or the IDXX stock overview for the latest quote and news.
IDXX key metrics FAQ
What is IDEXX's P/E ratio?
IDEXX's trailing P/E ratio is 39.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 31.4. At the end of fiscal 2025 it was 51.5, compared with a 10-year median of 52.4.
What is IDEXX's EV/EBITDA?
IDEXX's enterprise value was 36.8 times EBITDA at the end of fiscal 2025 (enterprise value $55.5 billion, EBITDA $1.5 billion); the current EV/EBITDA is 26.0.
What is IDEXX's return on equity?
IDEXX's return on equity (ROE) was 66.2% in fiscal 2025: net income of $1.1 billion on average shareholders' equity of $1.6 billion.
What is IDEXX's ROIC?
IDEXX's return on invested capital was 53.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does IDEXX have?
IDEXX had total debt of $1.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.67 and $897.1 million of net debt (0.60 times EBITDA).
Does IDEXX buy back its shares?
Yes. IDEXX spent $1.2 billion on net share repurchases in fiscal 2025 Shares outstanding changed −2.9% over the year, to 80.7M..
What is IDEXX's free cash flow yield?
IDEXX generated $1.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 1.9% on its market value at year-end ($54.6 billion).
What is IDEXX's current ratio?
IDEXX's current ratio was 1.17 at the end of fiscal 2025: current assets were 1.17 times current liabilities.