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 41 d ago 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
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
Sep '21	$810M	$175M	58.4%	27.9%	23.2%	7.3%	$142M	$853M	$145M

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 39.3× (Sep '26).
The price-to-sales ratio has fallen from 11.7× (Mar '23) to 9.7× (Sep '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?

As of Sep '26, Idexx Laboratories traded at a price-to-earnings ratio of about 39.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.