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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 negatively impacted by cautious 2026 guidance, despite the company beating Q4 earnings and revenue estimates. Analysts cut their forecasts following the Q4 results, citing steady growth expectations. Additionally, currency pressure and solvency risks have raised concerns about the stock's prospects. Institutional investors, such as Coalescence Partners Investment Management LP, have also reduced their stakes in the company, selling 19,147 shares during the third quarter.

1.c. Company Highlights

2. IDEXX Laboratories' Q4 2025 Earnings: A Strong Finish to a Record Year

IDEXX Laboratories delivered an excellent financial performance in Q4 2025, driven by double-digit top-line gains. Revenue increased 14% as reported and 12% organically, supported by 10% organic growth in CAG Diagnostics recurring revenues. The company achieved record premium instrument placements in Q4, with strong gains across its major platforms. Revenue growth delivered $3.08 in EPS, up 17% on a comparable basis, beating analyst estimates of $2.93. Full-year operating margins reached 31.6%, an increase of 90 basis points on a comparable basis.

Publication Date: Feb -04

📋 Highlights
  • Q4 Revenue Growth:: Revenue rose 14% reported and 12% organic, driven by 10% organic growth in CAG Diagnostics recurring revenue.
  • Full-Year Operating Margin:: Reached 31.6%, up 90 basis points, with EPS of $13.08, reflecting 14% YoY growth on a comparable basis.
  • 2026 Revenue Guidance:: Anticipated $4.632B–$4.72B (7.6–9.6% growth), with 7–9% organic growth from new platforms and market expansion.
  • 2026 EPS Outlook:: Projected $14.29–$14.80/share, indicating 10–14% increase, supported by margin expansion and high-margin cloud-software growth.
  • InVue DX Adoption:: Achieved 6,400 placements by Q4 2025, with 5,500 additional placements targeted in 2026, highlighting strong product demand.

Segment Performance

The company's major business segments contributed to the strong Q4 performance, with 13% organic growth in CAG, 10% organic growth in Water, and 4% organic gains in LPD. Worldwide CAG Diagnostics recurring revenue increased 10% organically in the fourth quarter, driven by a combination of strong volume gains, adoption of new innovations, and continued success in premium instrument placements.

2026 Outlook

IDEXX is planning to deliver solid organic revenue growth and profit gains in 2026, building on strong commercial execution and extensible new platforms. The company is providing initial guidance for revenue of $4.632 billion to $4.72 billion, an increase of 7.6% to 9.6% on a reported basis, reflecting 7% to 9% organically. The EPS outlook is $14.29 to $14.80 per share, reflecting an increase of 10% to 14% on a comparable basis.

Valuation

With a P/E Ratio of 47.82 and an EV/EBITDA of 34.31, IDEXX's valuation multiples indicate a premium relative to its historical averages. The company's ROE of 69.78% and ROIC of 47.79% suggest strong profitability. Analysts estimate next year's revenue growth at 8.8%, which is within the company's guidance range.

Innovation and Growth Drivers

IDEXX continues to drive innovation, with recent announcements including the expansion of the IDEXX CancerDx panel to include canine mast cell tumor detection. The company's InVue DX platform is redefining point-of-care cell cytology, with a successful rollout and plans for further expansion. The Catalyst platform continues to deliver sustained value, with menu expansions enhancing diagnostic confidence and efficiency.

Growth Prospects

3. NewsRoom

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Candriam S.C.A. Has $14.68 Million Position in IDEXX Laboratories, Inc. $IDXX

Feb -10

Source: defenseworld.net

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Oppenheimer Asset Management Inc. Sells 3,458 Shares of IDEXX Laboratories, Inc. $IDXX

Feb -09

Source: defenseworld.net

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IDEXX Laboratories, Inc. $IDXX Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

Feb -07

Source: defenseworld.net

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IQV or IDXX: Which Is the Better Value Stock Right Now?

Feb -04

Source: zacks.com

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IDEXX Laboratories Analysts Cut Their Forecasts Following Q4 Results

Feb -03

Source: benzinga.com

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Y Intercept Hong Kong Ltd Takes $669,000 Position in IDEXX Laboratories, Inc. $IDXX

Feb -03

Source: defenseworld.net

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Dow Jumps Over 500 Points Ahead Of Major Earnings: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

Feb -03

Source: feeds.benzinga.com

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IDEXX Laboratories Inc (IDXX) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic Innovations Propel Future Outlook

Feb -02

Source: gurufocus.com

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
Agilent Technologies

A-Score: 5.2/10

Value: 2.0

Growth: 6.1

Quality: 7.8

Yield: 1.0

Momentum: 7.0

Volatility: 7.3

1-Year Total Return ->

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Mettler-Toledo

A-Score: 5.2/10

Value: 3.0

Growth: 6.3

Quality: 7.1

Yield: 0.0

Momentum: 7.5

Volatility: 7.3

1-Year Total Return ->

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IDEXX Laboratories

A-Score: 5.1/10

Value: 0.0

Growth: 7.2

Quality: 8.6

Yield: 0.0

Momentum: 9.5

Volatility: 5.0

1-Year Total Return ->

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IQVIA

A-Score: 4.8/10

Value: 3.5

Growth: 6.9

Quality: 5.5

Yield: 0.0

Momentum: 7.0

Volatility: 6.0

1-Year Total Return ->

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Thermo Fisher

A-Score: 4.8/10

Value: 1.7

Growth: 6.1

Quality: 6.2

Yield: 0.0

Momentum: 7.0

Volatility: 7.7

1-Year Total Return ->

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Danaher

A-Score: 4.3/10

Value: 1.7

Growth: 3.9

Quality: 6.8

Yield: 1.0

Momentum: 5.0

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

646.53$

Current Price

646.53$

Potential

-0.00%

Expected Cash-Flows