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1. Company Snapshot

1.a. Company Description

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.

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1.b. Last Insights on IDXX

IDEXX Laboratories' recent performance was driven by strong Q3 earnings, with revenue up 13% and EPS up 21%, alongside expanding margins and reduced debt. The company's robust CAG Diagnostics growth, global expansion, and rising demand for software solutions, including the new InVueDx product, are key catalysts. Additionally, ongoing share buybacks and a solid customer ecosystem have contributed to its growth. A recent technical breakout above the 20-day moving average suggests a short-term bullish trend. Institutional investors, such as World Investment Advisors and ABN Amro Investment Solutions, have also taken positions in the company.

1.c. Company Highlights

2. IDEXX Laboratories' Q3 2025 Earnings: Strong Performance and Raised Guidance

IDEXX Laboratories reported a 13% revenue increase, with 12% organic growth, and a 15% comparable operating profit gain in Q3 2025. The company's operating margin expanded by 120 basis points, and earnings per share (EPS) grew 15% to $3.40, beating analyst estimates of $3.14. The strong financial performance was driven by the Companion Animal (CAG) Diagnostics business, which saw 10% organic growth in recurring revenues.

Publication Date: Nov -04

📋 Highlights
  • Revenue and EPS Growth:: 13% revenue increase (12% organic growth), 15% EPS growth to $3.40, and 15% comparable operating profit gain.
  • CAG Diagnostics Expansion:: 71% organic instrument revenue growth from 1,750+ InVue Dx placements, with 10% recurring revenue growth (8% U.S. growth, 14% international growth).
  • Cancer Dx Adoption:: 5,000 practices adopted tests, 17% competitive adoption rate, and 2026 expansion plans for mast cell tumor and lymphoma detection.
  • International Momentum:: 14% CAG Diagnostics recurring revenue growth (highest since post-COVID), 13–16% full-year growth driven by sales force expansion and Reference Lab network.
  • Software and Cloud Growth:: Cloud-native PIMS platforms surpassed 10,000 locations; Vello grew 20% sequentially, improving clinic appointment adherence and diagnostics compliance.

Segment Performance

The CAG Diagnostics business was the main driver of growth, with 10% organic growth in recurring revenues driven by an 8% gain in the U.S. and double-digit growth internationally. The company placed over 1,750 IDEXX InVue Dx analyzers, resulting in 71% organic growth of CAG instrument revenues. According to Jay Mazelsky, President and Chief Executive Officer, "IDEXX's financial results were underpinned by accelerating gains in CAG Diagnostics recurring revenues."

Guidance and Outlook

IDEXX increased its full-year revenue outlook by $43 million, with an updated range of $4.270 billion to $4.300 billion. The updated full-year overall organic revenue growth outlook is for 8.8% to 9.5%, with organic CAG Diagnostics recurring revenue growth of 7.5% to 8.2%. EPS outlook was increased to $12.81 to $13.01 per share, reflecting 12% to 14% comparable EPS growth.

Valuation

With a P/E Ratio of 56.36 and an EV/EBITDA of 44.92, IDEXX Laboratories is trading at a premium. The company's strong growth prospects and high returns on capital (ROIC of 46.11% and ROE of 67.78%) may justify this valuation. Analysts estimate next year's revenue growth at 8.5%, which may support the current valuation.

International Growth

International CAG Diagnostic recurring revenue growth has reached almost 14%, the highest growth rate since emerging from COVID. This growth is driven by the company's tried and true approach to developing the sector, which is more embryonic in international markets. The company's double-digit installed base growth for 11 consecutive quarters has contributed to this traction.

Innovation and R&D

IDEXX is aggressively innovating, with a portfolio of solutions that customers are hungry for. The company's investments in R&D, including biomarker development and new instruments like InVue and Multi-Q Dx, are multi-year projects with a high confidence level. The software piece is a critical part of the company's strategy, with investments in cloud-based PIM systems and Vello.

3. NewsRoom

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IDEXX Laboratories Stock Rallies 75.6% YTD: What's Behind the Surge?

Dec -04

Source:

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IDEXX Laboratories, Inc. $IDXX Shares Purchased by Groupe la Francaise

Dec -04

Source: defenseworld.net

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Capital Fund Management S.A. Sells 8,714 Shares of IDEXX Laboratories, Inc. $IDXX

Dec -01

Source: defenseworld.net

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Capital Counsel LLC NY Sells 6,239 Shares of IDEXX Laboratories, Inc. $IDXX

Dec -01

Source: defenseworld.net

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Advisors Asset Management Inc. Cuts Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Dec -01

Source: defenseworld.net

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Head-To-Head Analysis: IDEXX Laboratories (NASDAQ:IDXX) vs. CardioGenics (OTCMKTS:CGNH)

Dec -01

Source: defenseworld.net

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What Makes Idexx Laboratories (IDXX) a Strong Momentum Stock: Buy Now?

Nov -28

Source: zacks.com

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Bell Asset Management Ltd Sells 7,208 Shares of IDEXX Laboratories, Inc. $IDXX

Nov -27

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.50%)

6. Segments

Companion Animal Group (CAG)

Expected Growth: 7.5%

Growing demand for pet health diagnostics, increasing adoption of in-clinic testing, and advancements in diagnostic technology drive growth in IDEXX’s Companion Animal Group.

Livestock, Poultry and Dairy (LPD)

Expected Growth: 7.2%

Growing demand for animal protein, increasing disease outbreaks, and advancing diagnostic technologies drive growth in the Livestock, Poultry and Dairy segment of IDEXX Laboratories, Inc.

Water

Expected Growth: 7.4%

Growing concerns about water quality and safety, increasing regulations, and adoption of digital solutions are expected to drive growth in IDEXX Laboratories' Water segment.

Other

Expected Growth: 11.2%

IDEXX Laboratories' diagnostic solutions drive growth through increasing adoption of pet insurance, advancing veterinary standards, and rising pet ownership globally.

7. Detailed Products

Companion Animal Group (CAG) Diagnostics

Diagnostic tests and instruments for veterinarians to diagnose and monitor diseases in companion animals

Livestock, Poultry and Dairy (LPD) Diagnostics

Diagnostic tests and instruments for livestock, poultry, and dairy farmers to diagnose and monitor diseases in their animals

Water Diagnostics

Diagnostic tests and instruments for water quality testing to detect bacteria, viruses, and other contaminants

Food Safety Diagnostics

Diagnostic tests and instruments for food manufacturers to detect pathogens and contaminants in food products

Rapid Assay Platforms

Portable, rapid diagnostic testing platforms for veterinary and food safety applications

Software and Services

Practice management software, data analytics, and consulting services for veterinary clinics and animal health organizations

8. IDEXX Laboratories, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

IDEXX Laboratories, Inc. has a low threat of substitutes due to its strong brand recognition and patented products, making it difficult for new entrants to replicate its offerings.

Bargaining Power Of Customers

IDEXX Laboratories, Inc. has a medium bargaining power of customers due to the presence of large animal health companies and veterinary clinics, which can negotiate prices and terms.

Bargaining Power Of Suppliers

IDEXX Laboratories, Inc. has a low bargaining power of suppliers due to its strong relationships with suppliers and its ability to negotiate prices and terms.

Threat Of New Entrants

IDEXX Laboratories, Inc. has a low threat of new entrants due to the high barriers to entry, including regulatory hurdles and significant capital investments required to develop and commercialize veterinary diagnostic products.

Intensity Of Rivalry

IDEXX Laboratories, Inc. operates in a highly competitive industry with several established players, leading to a high intensity of rivalry among competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 38.97%
Debt Cost 3.95%
Equity Weight 61.03%
Equity Cost 10.31%
WACC 7.83%
Leverage 63.85%

11. Quality Control: IDEXX Laboratories, Inc. passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
IDEXX Laboratories

A-Score: 4.6/10

Value: 0.0

Growth: 7.2

Quality: 7.6

Yield: 0.0

Momentum: 7.5

Volatility: 5.3

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Agilent Technologies

A-Score: 4.5/10

Value: 1.2

Growth: 5.8

Quality: 7.4

Yield: 1.0

Momentum: 4.0

Volatility: 7.3

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Mettler-Toledo

A-Score: 4.4/10

Value: 3.0

Growth: 6.3

Quality: 7.1

Yield: 0.0

Momentum: 3.5

Volatility: 6.7

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IQVIA

A-Score: 4.1/10

Value: 3.5

Growth: 6.9

Quality: 5.4

Yield: 0.0

Momentum: 3.0

Volatility: 6.0

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Thermo Fisher

A-Score: 4.0/10

Value: 1.6

Growth: 6.1

Quality: 6.1

Yield: 0.0

Momentum: 3.0

Volatility: 7.3

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Danaher

A-Score: 3.8/10

Value: 1.6

Growth: 4.0

Quality: 6.8

Yield: 1.0

Momentum: 1.5

Volatility: 7.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

714.1$

Current Price

714.1$

Potential

-0.00%

Expected Cash-Flows