IDXX Financials Idexx Laboratories

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 3, 2026, 05:13 UTC Overview →

Growth & profitability

Revenue has grown 9.7% per year over the past 5 years.
Net income has grown faster than revenue (12.7% vs 9.7% per year).
Operating margin has expanded, at 31.6% in the latest year.
Free cash flow has grown 14.3% per year over the past 5 years.

Financial health

Total debt ($450M) exceeds cash ($180M); net debt is $270M.
Total debt has grown slower than revenue (-13.1% vs 9.7% per year).
Operating income covered interest expense 35× in the latest year.
Total debt is 0.3× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$4.3B	$1.1B	61.8%	31.6%	66.0%	31.6%	$1.1B	$450M	$180M
2024	$3.9B	$888M	61.0%	29.0%	55.7%	27.0%	$808M	$618M	$288M
2023	$3.7B	$845M	59.8%	30.0%	56.9%	25.9%	$773M	$698M	$454M
2022	$3.4B	$679M	59.5%	26.7%	111.6%	24.7%	$394M	$770M	$113M
2021	$3.2B	$745M	58.8%	29.0%	107.9%	30.6%	$636M	$851M	$144M
2020	$2.7B	$582M	58.0%	25.7%	92.0%	25.4%	$541M	$909M	$384M
2019	$2.4B	$428M	56.7%	23.0%	241.0%	23.3%	$304M	$699M	$90M
2018	$2.2B	$377M	56.1%	22.2%	-3963.3%	24.5%	$284M	$602M	$124M
2017	$2.0B	$263M	55.7%	21.0%	-486.3%	15.4%	$299M	$607M	$188M
2016	$1.8B	$222M	54.9%	19.7%	-204.9%	14.5%	—	$594M	$155M
2015	—	$192M	—	—	-228.3%	13.0%	—	$597M	$129M
2014	—	$182M	—	—	154.8%	13.1%	$175M	$350M	$323M
2013	—	$188M	—	—	36.2%	15.3%	$168M	$151M	$279M
2012	—	$178M	—	—	28.0%	16.2%	$165M	$3M	$224M
2011	—	$162M	—	—	30.0%	15.7%	$168M	$3M	$184M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$1.2B	$317M	62.9%	33.1%	17.0%	8.6%	$421M	$375M	$198M
Jun '26	$1.2B	$338M	64.0%	35.0%	21.0%	9.8%	$323M	$450M	$197M
Mar '26	$1.1B	$278M	63.4%	31.8%	17.9%	8.2%	$234M	$450M	$201M
Dec '25	$1.1B	$248M	60.3%	28.9%	15.5%	7.4%	$326M	$450M	$180M
Sep '25	$1.1B	$275M	61.8%	32.1%	17.6%	8.1%	$371M	$525M	$208M
Jun '25	$1.1B	$294M	62.6%	33.6%	20.2%	8.8%	$152M	$525M	$165M
Mar '25	$998M	$243M	62.4%	31.7%	16.8%	7.6%	$208M	$621M	$164M
Dec '24	$954M	$216M	59.8%	27.4%	13.5%	6.6%	$233M	$618M	$288M
Sep '24	$976M	$233M	61.1%	31.2%	14.4%	6.9%	$192M	$624M	$309M
Jun '24	$1.0B	$203M	61.7%	26.3%	12.9%	6.0%	$215M	$695M	$402M
Mar '24	$964M	$236M	61.5%	31.0%	15.0%	7.0%	$168M	$696M	$397M
Dec '23	$902M	$195M	58.4%	27.2%	13.1%	6.0%	$217M	$698M	$454M
Sep '23	$916M	$212M	59.9%	30.1%	16.4%	6.9%	$238M	$769M	$332M
Jun '23	$944M	$224M	60.7%	31.4%	20.5%	7.8%	$173M	$772M	$133M
Mar '23	$900M	$214M	60.3%	31.1%	25.4%	7.6%	$144M	$771M	$111M
Dec '22	$829M	$172M	58.5%	27.3%	28.3%	6.3%	$124M	$770M	$113M
Sep '22	$842M	$181M	60.2%	29.1%	38.0%	6.9%	$151M	$761M	$99M
Jun '22	$861M	$132M	59.7%	20.8%	28.9%	5.1%	$36M	$768M	$114M
Mar '22	$837M	$194M	59.6%	29.7%	30.3%	7.5%	$83M	$773M	$205M
Dec '21	$801M	$163M	57.0%	24.9%	23.6%	6.7%	$178M	$851M	$144M

Valuation over time

How the market has priced IDXX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 58.0× (Mar '23) to 49.9× (Nov '26).
The price-to-sales ratio has risen from 11.7× (Mar '23) to 12.3× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is IDXX growing its revenue and profit?

Over the past 5 years, Idexx Laboratories's revenue has grown 9.7% per year, and net income grown 12.7% per year. These are computed facts, not advice.

How much debt does IDXX have?

As of FY2025, Idexx Laboratories reported $450M of total debt against $180M of cash; operating income covered interest expense 35×.

What is IDXX's profit margin?

In FY2025, gross margin was 61.8%, operating margin 31.6%, and net margin 24.6%.

What is IDXX's P/E ratio?

Idexx Laboratories's P/E (TTM) is 44.76 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the IDXX stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 49.9× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.