Mesa Laboratories, Inc. (MLAB) Key Metrics
MLAB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $685.4M
- Enterprise value
- $868.2M
- P/E (TTM)
- 144.1 10-yr median 252.7
- Forward P/E
- 34.5
- PEG ratio
- —
- Price / sales
- 2.7 10-yr median 5.4
- Price / book
- 4.0 10-yr median 4.0
- EV / EBITDA
- 20.1 10-yr median 29.1
- Dividend yield
- 0.52% $0.64 a year
- Beta
- 1.05
MLAB key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsMLAB valuation Price multiples at each fiscal year-end price.
MLAB returns How much profit the business earns on the capital it uses.
MLAB per-share figures Results divided by the shares outstanding at year-end.
MLAB financial health Debt, liquidity and how easily interest is covered.
MLAB efficiency & capital use Working capital cycle and where the cash goes.
MLAB valuation history
MLAB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MLAB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MLAB cash returned to shareholders
MLAB price vs earnings per share
MLAB key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $492.1M | $644.2M | $591.0M | $936.7M | $1.36B | $1.25B | $988.2M | $929.6M | $559.6M | $471.7M |
| Enterprise value | $634.0M | $798.4M | $794.1M | $1.09B | $1.53B | $1.13B | $1.05B | $942.2M | $600.4M | $520.6M |
| P/E ratio | 73.3 | — | — | — | 726.8 | 381.1 | 555.8 | 124.2 | — | 42.2 |
| Price / sales | 2.0 | 2.7 | 2.7 | 4.3 | 7.4 | 9.3 | 8.4 | 9.0 | 5.8 | 5.0 |
| Price / book | 2.6 | 4.0 | 4.1 | 2.4 | 3.5 | 3.1 | 4.5 | 8.4 | 5.6 | 4.8 |
| Price / free cash flow | 12.4 | 15.2 | 14.2 | 40.0 | 39.1 | 35.6 | 39.4 | 31.7 | 25.4 | — |
| Price / operating cash flow | 11.5 | 13.8 | 13.4 | 33.5 | 34.7 | 33.7 | 37.2 | 30.4 | 22.6 | 60.9 |
| EV / sales | 2.5 | 3.3 | 3.7 | 5.0 | 8.3 | 8.4 | 8.9 | 9.1 | 6.2 | 5.6 |
| EV / EBITDA | 18.0 | 18.9 | — | 29.1 | 47.1 | 40.4 | 46.9 | 26.6 | 61.4 | 20.8 |
| EV / free cash flow | 16.0 | 18.9 | 19.1 | 46.5 | 44.0 | 32.2 | 41.8 | 32.2 | 27.3 | — |
| Earnings yield | 1.4% | −0.3% | −43.0% | 0.1% | 0.1% | 0.3% | 0.2% | 0.8% | −0.5% | 2.4% |
| Free cash flow yield | 8.0% | 6.6% | 7.0% | 2.5% | 2.6% | 2.8% | 2.5% | 3.2% | 3.9% | −0.8% |
| Dividend yield | 0.7% | 0.5% | 0.6% | 0.4% | 0.2% | 0.3% | 0.3% | 0.3% | 0.4% | 0.5% |
| Shareholder yield (dividends + buybacks) | 0.7% | 0.5% | 0.7% | 0.4% | 0.3% | 0.3% | 0.3% | 0.8% | 0.4% | 0.5% |
| Share price at fiscal year-end | $88.42 | $118.66 | $109.73 | $174.73 | $254.88 | $243.50 | $226.09 | $230.50 | $148.44 | $122.70 |
| Per share | ||||||||||
| Revenue per share | $44.77 | $44.39 | $40.14 | $40.87 | $34.55 | $26.14 | $26.92 | $25.57 | $25.51 | $24.37 |
| Earnings per share | $1.21 | −$0.36 | −$47.20 | $0.17 | $0.35 | $0.64 | $0.41 | $1.86 | −$0.79 | $2.91 |
| Operating cash flow per share | $7.70 | $8.62 | $8.19 | $5.22 | $7.35 | $7.24 | $6.08 | $7.58 | $6.58 | $2.02 |
| Free cash flow per share | $7.11 | $7.79 | $7.72 | $4.37 | $6.52 | $6.85 | $5.73 | $7.26 | $5.84 | −$1.00 |
| Cash per share | $4.84 | $5.03 | $5.24 | $6.14 | $9.25 | $51.50 | $18.62 | $2.53 | $1.45 | $1.51 |
| Book value per share | $33.47 | $29.44 | $26.99 | $73.40 | $73.81 | $79.28 | $50.33 | $27.60 | $26.36 | $25.45 |
| Tangible book value per share | −$15.09 | −$21.88 | −$27.56 | $16.57 | −$27.64 | $26.08 | −$9.47 | $2.90 | −$2.40 | −$3.15 |
| Dividends per share | $0.63 | $0.64 | $0.64 | $0.64 | $0.63 | $0.62 | $0.62 | $0.61 | $0.64 | $0.61 |
| Capex per share | $0.58 | $0.83 | $0.48 | $0.85 | $0.83 | $0.39 | $0.34 | $0.31 | $0.74 | $3.02 |
| Debt per share | $30.34 | $33.43 | $42.94 | $34.72 | $41.45 | $28.63 | $32.34 | $5.64 | $12.27 | $14.26 |
| Shares outstanding | 5.6M | 5.4M | 5.4M | 5.4M | 5.3M | 5.1M | 4.4M | 4.0M | 3.8M | 3.8M |
| Change in shares outstanding | +2.5% | +0.8% | +0.5% | +0.5% | +4.1% | +17.2% | +8.4% | +7.0% | −1.9% | +2.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 3.9% | −1.3% | −94.4% | 0.2% | 0.5% | 1.0% | 1.1% | 7.1% | −3.0% | 12.3% |
| Return on invested capital (ROIC) | 3.2% | 2.5% | −48.0% | 0.5% | 0.6% | 4.3% | 2.0% | 6.4% | 0.8% | 9.4% |
| Return on assets (ROA) | 1.6% | −0.4% | −45.9% | 0.1% | 0.3% | 0.6% | 0.6% | 4.7% | −1.8% | 6.7% |
| Return on tangible assets | 4.3% | −1.3% | −166.2% | 0.3% | 1.1% | 1.0% | 1.1% | 13.1% | −5.3% | 18.1% |
| Free cash flow margin | 15.9% | 17.6% | 19.2% | 10.7% | 18.9% | 26.2% | 21.3% | 28.4% | 22.9% | −4.1% |
| Income quality (OCF / net income) | 6.38 | — | — | 30.09 | 20.96 | 11.32 | 14.94 | 4.08 | — | 0.69 |
| Financial health | ||||||||||
| Total debt | $168.8M | $181.5M | $231.3M | $186.1M | $221.1M | $146.7M | $141.4M | $22.7M | $46.3M | $54.8M |
| Cash & short-term investments | $26.9M | $27.3M | $28.2M | $32.9M | $49.3M | $263.9M | $81.4M | $10.2M | $5.5M | $5.8M |
| Net debt | $141.9M | $154.2M | $203.1M | $153.2M | $171.8M | −$117.2M | $60.0M | $12.6M | $40.8M | $49.0M |
| Debt / equity | 0.91 | 1.14 | 1.59 | 0.47 | 0.56 | 0.36 | 0.64 | 0.20 | 0.47 | 0.56 |
| Debt / assets | 0.39 | 0.42 | 0.52 | 0.28 | 0.31 | 0.24 | 0.34 | 0.15 | 0.28 | 0.32 |
| Net debt / EBITDA | 4.02 | 3.64 | — | 4.08 | 5.28 | −4.19 | 2.68 | 0.36 | 4.17 | 1.96 |
| Current ratio | 1.72 | 0.63 | 2.47 | 2.74 | 2.59 | 9.32 | 4.72 | 1.42 | 1.85 | 2.16 |
| Quick ratio | 1.29 | 0.47 | 1.73 | 1.94 | 2.07 | 8.98 | 4.17 | 1.13 | 1.32 | 1.32 |
| Interest coverage | 1.7 | 1.4 | -47.8 | 0.7 | 1.2 | 1.5 | 1.4 | — | 1.2 | — |
| Working capital | $44.4M | −$61.3M | $65.0M | $75.6M | $76.3M | $271.2M | $96.8M | $10.0M | $14.7M | $19.2M |
| Invested capital | $328.1M | $314.0M | $348.5M | $546.7M | $565.6M | $289.1M | $280.0M | $123.9M | $140.2M | $146.8M |
| Tangible asset value | −$84.0M | −$118.8M | −$148.5M | $88.8M | −$147.5M | $133.6M | −$41.4M | $11.7M | −$9.0M | −$12.1M |
| Net current asset value | −$135.2M | −$170.8M | −$192.1M | −$149.4M | −$189.2M | $108.5M | −$77.4M | −$11.8M | −$32.8M | −$38.1M |
| Graham number | $30.14 | — | — | $16.93 | $24.13 | $33.76 | $21.46 | $33.95 | — | $40.81 |
| Graham net-net per share | −$30.24 | −$37.21 | −$42.25 | −$34.73 | −$41.42 | $17.96 | −$21.93 | −$5.58 | −$11.65 | −$13.12 |
| Capital allocation | ||||||||||
| Dividends paid | $3.5M | $3.5M | $3.4M | $3.4M | $3.3M | $3.2M | $2.7M | $2.5M | $2.4M | $2.4M |
| Share buybacks (net) | — | — | $728,000 | $0 | $875,000 | $0 | $0 | $5.1M | $0 | $0 |
| Dividend payout ratio | 52.5% | — | — | 366.2% | 178.5% | 96.7% | 153.1% | 32.9% | — | 21.1% |
| Dividends + buybacks / free cash flow | 8.9% | 8.2% | 10.0% | 14.5% | 12.1% | 9.0% | 10.9% | 25.8% | 11.0% | — |
| Capex / revenue | 1.3% | 1.9% | 1.2% | 2.1% | 2.4% | 1.5% | 1.3% | 1.2% | 2.9% | 12.4% |
| Capex / operating cash flow | 7.6% | 9.6% | 5.8% | 16.2% | 11.3% | 5.4% | 5.6% | 4.1% | 11.3% | 149.7% |
| Capex / depreciation | 0.14 | 0.18 | 0.08 | 0.13 | 0.18 | 0.11 | 0.12 | 0.13 | 0.30 | 1.33 |
| Stock-based compensation / revenue | 7.2% | 5.5% | 5.5% | 5.7% | 6.2% | 6.9% | 4.7% | 4.1% | 1.7% | 1.5% |
| R&D / revenue | 8.2% | 8.1% | 8.9% | 9.4% | 8.6% | 7.8% | 5.4% | 3.4% | 3.7% | 4.4% |
| SG&A / revenue | 47.9% | 47.7% | 51.6% | 50.2% | 48.1% | 48.0% | 43.4% | 38.4% | 36.5% | 35.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 63.0 | 61.4 | 68.9 | 69.8 | 64.4 | 61.2 | 52.2 | 47.5 | 54.3 | 57.7 |
| Days of inventory on hand | 103.9 | 117.6 | 148.1 | 126.6 | 86.8 | 98.8 | 73.3 | 69.2 | 101.4 | 125.9 |
| Days payables outstanding | 21.4 | 23.9 | 26.8 | 30.0 | 30.0 | 30.7 | 22.0 | 22.8 | 20.0 | 22.5 |
| Cash conversion cycle (days) | 145.5 | 155.0 | 190.2 | 166.4 | 121.2 | 129.4 | 103.4 | 93.8 | 135.8 | 161.1 |
| Receivables turnover | 5.79 | 5.95 | 5.30 | 5.23 | 5.67 | 5.96 | 7.00 | 7.69 | 6.72 | 6.32 |
| Payables turnover | 17.02 | 15.29 | 13.62 | 12.17 | 12.17 | 11.91 | 16.60 | 16.00 | 18.28 | 16.20 |
| Inventory turnover | 3.51 | 3.11 | 2.46 | 2.88 | 4.21 | 3.69 | 4.98 | 5.28 | 3.60 | 2.90 |
| Asset turnover | 0.58 | 0.55 | 0.39 | 0.32 | 0.28 | 0.26 | 0.41 | 0.64 | 0.57 | 0.56 |
| Average receivables | $43.0M | $40.5M | $40.8M | $41.9M | $32.5M | $22.5M | $16.8M | $13.4M | $14.3M | $14.8M |
| Average payables | $5.3M | $5.9M | $6.1M | $7.0M | $6.2M | $3.9M | $3.2M | $2.6M | $2.3M | $2.5M |
| Average inventory | $25.9M | $29.0M | $33.7M | $29.6M | $17.9M | $12.7M | $10.5M | $8.0M | $11.6M | $13.9M |
| Intangibles / total assets | 63.2% | 64.3% | 65.8% | 46.0% | 76.5% | 45.3% | 62.2% | 63.5% | 66.1% | 64.0% |
Computed from MLAB's annual financial statements (latest annual report filed June 3, 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.
MLAB valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), Mesa Laboratories traded at 73.3 times earnings, against a 10-year median of 252.7. Based on the latest twelve months, the trailing P/E is 144.1 and the forward P/E is 34.5. Mesa Laboratories earned a return on equity of 3.9% and a return on invested capital of 3.2% in fiscal 2026. It ended the year with $168.8 million of debt and $26.9 million in cash and short-term investments, net debt of $141.9 million. It returned $3.5 million to shareholders: $3.5 million in dividends and $0 in share buybacks, 9% of free cash flow. The share count rose 44.8% from 3.8M to 5.6M over 9 years.
See the MLAB income statement, the MLAB chart for price history, or the MLAB stock overview for the latest quote and news.
MLAB key metrics FAQ
What is Mesa Laboratories's P/E ratio?
Mesa Laboratories's trailing P/E ratio is 144.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 34.5. At the end of fiscal 2026 it was 73.3, compared with a 10-year median of 252.7.
What is Mesa Laboratories's EV/EBITDA?
Mesa Laboratories's enterprise value was 18.0 times EBITDA at the end of fiscal 2026 (enterprise value $634.0 million, EBITDA $35.3 million); the current EV/EBITDA is 20.1.
What is Mesa Laboratories's return on equity?
Mesa Laboratories's return on equity (ROE) was 3.9% in fiscal 2026: net income of $6.7 million on average shareholders' equity of $173.0 million.
What is Mesa Laboratories's ROIC?
Mesa Laboratories's return on invested capital was 3.2% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Mesa Laboratories have?
Mesa Laboratories had total debt of $168.8 million at the end of fiscal 2026, a debt-to-equity ratio of 0.91 and $141.9 million of net debt (4.02 times EBITDA).
What is Mesa Laboratories's dividend yield?
Mesa Laboratories's forward dividend yield is 0.52%. Mesa Laboratories paid $3.5 million in dividends in fiscal 2026 ($0.63 per share), a payout ratio of 52.5%.
What is Mesa Laboratories's free cash flow yield?
Mesa Laboratories generated $39.6 million of free cash flow in fiscal 2026, a free cash flow yield of 8.0% on its market value at year-end ($492.1 million).
What is Mesa Laboratories's current ratio?
Mesa Laboratories's current ratio was 1.72 at the end of fiscal 2026: current assets were 1.72 times current liabilities.