IDEXX Laboratories, Inc. (IDXX) is a Healthcare stock trading at $529.17 (as of 2026-09-03), with a market capitalization of $41.69B and a trailing P/E of 36.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
IDEXX Laboratories, Inc. develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community. The company also offers diagnostic and health-monitoring products for livestock, poultry, and dairy; products that test water for various microbiological contaminants; and point-of-care electrolytes and blood gas analyzers and SARS-CoV-2 RT-PCR that are used in the human point-of-care medical diagnostics market; in-clinic chemistry, blood and urine chemistry, hematology, and SediVue Dx analyzers; SNAP rapid assays test kits. In addition, it provides Colilert, Colilert-18, and Colisure tests, which detect the presence of total coliforms and E. coli in water; Enterolert, Pseudalert, Filta-Max and Filta-Max xpress, Legiolert, and Quanti-Tray products; veterinary software and services for independent veterinary clinics and corporate groups. The company markets its products through marketing, customer service, sales, and technical service groups, as well as through independent distributors and other resellers. IDEXX Laboratories, Inc. was incorporated in 1983 and is headquartered in Westbrook, Maine.
IDEXX makes diagnostic instruments, test kits, and reference lab services for veterinary clinics, livestock and poultry farms, and water-testing labs, selling through a razor-and-blade model where placed instruments drive recurring consumable revenue. The companion animal veterinary line dominates, and growth is fueled primarily by rising test utilization on installed equipment rather than new hardware sales.
Every instrument IDXX places in a clinic is a long-term annuity: the hardware is often sold at thin or negative margin, but each additional test run on that instrument (Catalyst, InViewDX) generates near-gross-margin consumable revenue, so the installed base count is the single most important number to watch.
Business quality (Exceptional): Exceptional quality (64% gross margin, 35% operating margin) trading at 37.7x earnings versus a 17x industry average, a 120% premium that prices in durable recurring growth with little room for stumble.
Valuation: At 38× earnings, IDXX trades 120% above the Pharmaceutical Products average (17×).
| Price | $529.17 |
| Market Cap | $41.69B |
| P/E Ratio | 36.6 |
| EV / EBITDA | 26.2 |
| Price / Book | 25.85 |
| Price / Sales | 9.16 |
| FCF Yield | 2.5% |
| DCF Value (model) | $262.39 |
| DCF Upside vs Price | -50.4% |
| Revenue (TTM) | $4.30B |
| Net Margin | 24.6% |
| Revenue Growth (YoY) | 9.7% |
| EPS Growth (YoY) | 17.2% |
| FCF Growth (YoY) | 267.2% |
| Altman Z-Score | 19.87 (safe) |
| Piotroski F-Score | 8/9 (strong) |
| Stock P/E | 36.6 |
| Sector P/E (Healthcare) | 21.6 |
| Industry P/E (Pharmaceutical Products) | 17.1 |
| vs Sector | 69.4% |
| vs Industry | 113.9% |
| Top Institutional Holder | VANGUARD GROUP INC ($6.73B) |
| Institutional Holders Tracked | 10 |
| Congressional Trades (recent) | 10 |
| Sector | Healthcare |
| Industry | Pharmaceutical Products |
| CEO | Jonathan J. Mazelsky |
| Employees | 11,000 |
| Country | US |
| IPO Date | 1991-06-21 |
Data as of 2026-09-03.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.