Mesa Laboratories, Inc. (MLAB) | Investment Case

1. Company Snapshot

1.a. Company Description

Mesa Laboratories, Inc.develops, manufactures, and sells life sciences tools and quality control products and services in the United States, Europe, the Asia Pacific, and internationally.The company's Sterilization and Disinfection Control segment manufactures and sells biological, cleaning, and chemical indicators that are used to assess the effectiveness of sterilization and disinfection processes in the hospital, dental, medical device, and pharmaceutical industries.

This segment also provides testing and laboratory services primarily to the dental industry.Its Biopharmaceutical Development segment develops, manufactures, and sells automated systems for protein analysis (immunoassays) and peptide synthesis solutions.This segment's solutions include protein analysis comprising analysis equipment, CDs, kits, and buffers; and peptide synthesizers that enables to automate chemically synthesized peptides that are used in the creation of peptide therapies, biomaterials, cosmetics, and general research.

The company's Calibration Solutions segment designs, manufactures, and markets quality control and calibration products to measure or calibrate temperature, pressure, pH, humidity, and other such parameters used for health and safety purposes in the hospital, medical device manufacturing, pharmaceutical manufacturing, and various laboratory and healthcare environments.This segment's products include continuous monitoring systems, dialysate meters and consumables, data loggers, gas flow calibration and air sampling equipment, and torque testing systems.Its Clinical Genomics segment develops, manufactures, and sells genetic analysis tools that include MassARRAY system and consumables, including chips, panels, and chemical reagent solutions used by clinical labs to perform genomic clinical testing in several therapeutic areas, such as newborn screenings, pharmacogenetics, and oncology.

The company was incorporated in 1982 and is headquartered in Lakewood, Colorado.

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1.b. Last Insights on MLAB

Mesa Laboratories' recent performance was negatively impacted by disappointing Q4 earnings, which fell short of expectations at $2.23 per share, missing the Zacks Consensus Estimate of $2.75 per share. This earnings miss, coupled with a decline in revenue, suggests a slowdown in the company's growth trajectory. Furthermore, the company's inability to meet earnings estimates, despite a year-over-year increase in earnings, indicates a potential decline in profitability.

1.c. Company Highlights

Last Price	77.18
Change Percentage	0.04%
Open	76.99
Previous Close	77.15
Market Cap ( Millions)	426
Volume	103468
Year High	155.12
Year Low	55.45
M A 50	74.01
M A 200	92.61

FCF Yield	7.90%
Dividend Yield	0.83%
ROE	-0.38%
Debt / Equity	107.21%
Net Debt / EBIDTA	366.42%
Price To Book	2.45
Price Earnings Ratio	-680.3
Price To FCF	12.67
Price To sales	1.76
EV / EBITDA	13.21

2. Transcript Summary

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3. NewsRoom

Financial Review: Accuray (NASDAQ:ARAY) & Mesa Laboratories (NASDAQ:MLAB)

Nov -30

Source: defenseworld.net

Mesa Laboratories, Inc. to Participate in Upcoming Investor Conferences

Nov -12

Source: globenewswire.com

Mesa Laboratories, Inc. to Announce Second Quarter Results on November 6, 2025

Oct -03

Source: globenewswire.com

Mesa Labs (MLAB) Stock Jumps 5.7%: Will It Continue to Soar?

Sep -22

Source: zacks.com

Mesa Laboratories Executes Previously-Announced Strategic Financing Plan

Aug -18

Source: globenewswire.com

Mesa Labs (MLAB) Lags Q1 Earnings and Revenue Estimates

Aug -05

Source: zacks.com

MESA LABS DECLARES QUARTERLY DIVIDEND

Jul -03

Source: globenewswire.com

Mesa Laboratories, Inc. to Announce First Quarter Results on August 5, 2025

Jul -02

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.63%)

6. Segments

Sterilization and Disinfection Control

Expected Growth: 7.8%

Growing demand for sterilization and disinfection control solutions, driven by increasing concerns over hospital-acquired infections and the need for effective infection prevention and control measures, will drive market growth.

Clinical Genomics

Expected Growth: 10.5%

Increasing demand for personalized medicine, advancements in molecular diagnostics, and growing incidence of infectious diseases and cancer drive the growth of Clinical Genomics market.

Biopharmaceutical Development

Expected Growth: 8.1%

Increasing demand for biologics, vaccines, and gene therapies drives growth in testing and analytical services. Rising regulatory requirements for product quality and safety, coupled with advancements in biotechnology, fuel the need for Mesa Laboratories' services.

Calibration Solutions

Expected Growth: 7.8%

Growing demand for precise measurements and compliance with regulatory standards drives the calibration solutions market. Increasing adoption in pharmaceutical, biotechnology, and medical device industries, coupled with advancements in instrumentation and technology, fuels growth.

7. Detailed Products

DataLoggers

Mesa's data loggers are designed to monitor and record temperature, humidity, and other environmental parameters in various industries such as pharmaceutical, medical, and food processing.

Cold Chain Monitoring Solutions

Mesa's cold chain monitoring solutions provide real-time monitoring and tracking of temperature-sensitive products during transportation and storage.

Environmental Monitoring Systems

Mesa's environmental monitoring systems provide real-time monitoring and alerting of temperature, humidity, and other environmental parameters in critical infrastructure such as data centers and laboratories.

Calibration and Validation Services

Mesa's calibration and validation services provide accurate and reliable calibration of temperature and humidity sensors, as well as validation of environmental monitoring systems.

Continuous Monitoring Systems

Mesa's continuous monitoring systems provide real-time monitoring and alerting of temperature, humidity, and other environmental parameters in critical infrastructure such as hospitals and laboratories.

8. Mesa Laboratories, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Mesa Laboratories, Inc. operates in a niche market, and the threat of substitutes is moderate. While there are some alternative products available, they are not as effective or efficient as Mesa's products.

Bargaining Power Of Customers

Mesa Laboratories, Inc. has a diverse customer base, and no single customer has significant bargaining power. The company's products are also critical to its customers' operations, reducing their bargaining power.

Bargaining Power Of Suppliers

Mesa Laboratories, Inc. relies on a few key suppliers for critical components. While the company has some bargaining power, the suppliers also have some leverage due to the specialized nature of the components.

Threat Of New Entrants

The medical device industry has high barriers to entry, including regulatory hurdles and significant capital requirements. This limits the threat of new entrants and gives Mesa Laboratories, Inc. a competitive advantage.

Intensity Of Rivalry

The medical device industry is highly competitive, with several established players competing for market share. Mesa Laboratories, Inc. must continually innovate and improve its products to maintain its market position.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	30.56%
Debt Cost	3.95%
Equity Weight	69.44%
Equity Cost	8.03%
WACC	6.79%
Leverage	44.00%

11. Quality Control: Mesa Laboratories, Inc. passed 3 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Data I/O

A-Score: 4.6/10

Value: 8.4

Growth: 1.4

Quality: 4.7

Yield: 0.0

Momentum: 8.0

Volatility: 5.0

1-Year Total Return ->

Wrap Tech

A-Score: 4.2/10

Value: 6.0

Growth: 5.1

Quality: 4.2

Yield: 0.0

Momentum: 9.0

Volatility: 1.0

1-Year Total Return ->

CPS Technologies

A-Score: 4.1/10

Value: 7.2

Growth: 0.8

Quality: 4.3

Yield: 0.0

Momentum: 10.0

Volatility: 2.0

1-Year Total Return ->

BlackSky Technology

A-Score: 3.8/10

Value: 4.4

Growth: 4.4

Quality: 2.8

Yield: 0.0

Momentum: 10.0

Volatility: 1.0

1-Year Total Return ->

LightPath Technologies

A-Score: 3.6/10

Value: 6.0

Growth: 0.6

Quality: 3.9

Yield: 0.0

Momentum: 10.0

Volatility: 1.0

1-Year Total Return ->

Mesa Laboratories

A-Score: 3.0/10

Value: 6.1

Growth: 4.3

Quality: 3.9

Yield: 1.0

Momentum: 0.0

Volatility: 2.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-4.30%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.79%

Mesa Laboratories, Inc. - US59064R1095

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on MLAB

1.c. Company Highlights

Stable Momentum

Fairly Valued

Average Quality

Average Growth

Earnings Beats

Lower Quality

Revenues Beats

Weak Momentum

Average Yield

Medium Volatility

Earnings Miss

Strong Momentum

Lower Growth

Revenues Miss

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.63%)

6. Segments

Sterilization and Disinfection Control

Expected Growth: 7.8%

Clinical Genomics

Expected Growth: 10.5%

Biopharmaceutical Development

Expected Growth: 8.1%

Calibration Solutions

Expected Growth: 7.8%

7. Detailed Products

DataLoggers

Cold Chain Monitoring Solutions

Environmental Monitoring Systems

Calibration and Validation Services

Continuous Monitoring Systems

8. Mesa Laboratories, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Mesa Laboratories, Inc. passed 3 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

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

77.18$

Current Price

77.18$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA