MLAB Financials Mesa Laboratories Inc /Co/

10 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated 28 h ago Overview →

Growth & profitability

Revenue has grown 13.2% per year over the past 5 years.
Net income has grown faster than revenue (15.4% vs 13.2% per year).
Operating margin has contracted, at 7.4% in the latest year.
Free cash flow has grown 2.4% per year over the past 5 years.

Financial health

Total debt ($68M) exceeds cash ($27M); net debt is $41M.
Total debt has grown slower than revenue (-5.3% vs 13.2% per year).
Operating income covered interest expense 1.7× in the latest year.
Total debt is 3.6× EBITDA.

Shareholder returns

Dividends have been paid for 10 consecutive years, consuming 52.5% of earnings and 8.9% of free cash flow.
The dividend has grown 2.2% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
2026	$249M	$7M	63.5%	7.4%	$40M	$68M	$27M
2025	$241M	-$2M	62.6%	6.8%	$43M	$71M	$27M
2024	$216M	-$254M	61.6%	-125.9%	$42M	—	$28M
2023	$219M	$930000	61.0%	1.5%	$23M	—	$33M
2022	$184M	$2M	59.2%	2.6%	$35M	—	$49M
2021	$134M	$3M	65.0%	9.2%	$35M	—	$264M
2020	$118M	—	55.5%	6.7%	$25M	—	$81M
2019	$103M	—	59.1%	9.5%	$29M	$23M	$10M
2018	$96M	—	56.8%	2.3%	$23M	$46.6B	$5M
2017	$94M	—	56.8%	17.4%	—	$55M	$6M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Dec '25	$65M	$4M	64.2%	12.2%	$18M	$68M	$29M
Sep '25	$61M	$2M	61.5%	7.8%	$7M	$69M	$20M
Jun '25	$60M	$5M	62.0%	5.1%	$884000	$70M	$21M
Mar '25	$62M	-$7M	61.8%	2.4%	$12M	$71M	$27M
Dec '24	$63M	-$2M	63.3%	9.2%	$18M	$72M	$27M
Sep '24	$58M	$3M	61.3%	6.1%	$3M	$73M	$24M
Jun '24	$58M	$3M	64.0%	9.6%	$10M	$74M	$28M
Mar '24	$59M	-$255M	62.1%	-460.6%	$12M	—	$28M
Dec '23	$53M	$2M	62.5%	-0.1%	$10M	—	$28M
Sep '23	$53M	-$1M	60.4%	-0.1%	$9M	—	$36M
Jun '23	$51M	-$549000	61.6%	-1.3%	$10M	—	$32M
Mar '23	$56M	$611000	59.7%	0.9%	$11M	—	$33M
Dec '22	$54M	$451000	60.4%	6.3%	$6M	—	$26M
Sep '22	$59M	$1M	61.9%	6.8%	$9M	—	$32M
Jun '22	$50M	-$1M	62.1%	-9.1%	-$3M	—	$44M
Mar '22	$59M	-$2M	59.6%	-0.2%	$9M	—	$49M
Dec '21	$55M	-$2M	52.3%	-4.6%	$14M	—	$52M
Sep '21	$36M	$4M	64.6%	11.7%	$3M	—	$278M
Jun '21	$35M	$2M	63.6%	8.9%	$9M	—	$276M
Mar '21	$38M	—	65.2%	11.3%	$12M	—	$264M

Valuation over time

How the market has priced MLAB 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 1039.9× (Mar '23) to 80.9× (Jun '26).
The price-to-sales ratio has fallen from 4.4× (Mar '23) to 2.2× (Jun '26).
The dividend yield has risen from 0.4% (Mar '23) to 0.6% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MLAB growing its revenue and profit?

Over the past 5 years, Mesa Laboratories Inc /Co/'s revenue has grown 13.2% per year, and net income grown 15.4% per year. These are computed facts, not advice.

How much debt does MLAB have?

As of FY2026, Mesa Laboratories Inc /Co/ reported $68M of total debt against $27M of cash; operating income covered interest expense 1.7×.

What is MLAB's profit margin?

In FY2026, gross margin was 63.5%, operating margin 7.4%, and net margin 2.7%.

What is MLAB's P/E ratio?

As of Jun '26, Mesa Laboratories Inc /Co/ traded at a price-to-earnings ratio of about 80.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield 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.