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 Aug 16, 2026, 10:14 UTC 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

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
2026	$249M	$7M	63.5%	7.4%	3.6%	1.6%	$40M	$68M	$27M
2025	$241M	-$2M	62.6%	6.8%	-1.2%	-0.5%	$43M	$71M	$27M
2024	$216M	-$254M	61.6%	-125.9%	-174.9%	-56.9%	$42M	—	$28M
2023	$219M	$930000	61.0%	1.5%	0.2%	0.1%	$23M	—	$33M
2022	$184M	$2M	59.2%	2.6%	0.5%	0.3%	$35M	—	$49M
2021	$134M	$3M	65.0%	9.2%	0.8%	0.5%	$35M	—	$264M
2020	$118M	—	55.5%	6.7%	0.0%	0.0%	$25M	—	$81M
2019	$103M	—	59.1%	9.5%	0.0%	0.0%	$29M	$23M	$10M
2018	$96M	—	56.8%	2.3%	0.0%	0.0%	$23M	$46.6B	$5M
2017	$94M	—	56.8%	17.4%	0.0%	0.0%	—	$55M	$6M

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	$60M	$3M	64.9%	11.7%	1.5%	0.7%	$14M	$66M	$31M
Dec '25	$65M	$4M	64.2%	12.2%	1.9%	0.8%	$18M	$68M	$29M
Sep '25	$61M	$2M	61.5%	7.8%	1.4%	0.6%	$7M	$69M	$20M
Jun '25	$60M	$5M	62.0%	5.1%	2.7%	1.1%	$884000	$70M	$21M
Mar '25	$62M	-$7M	61.8%	2.4%	-4.5%	-1.6%	$12M	$71M	$27M
Dec '24	$63M	-$2M	63.3%	9.2%	-1.1%	-0.4%	$18M	$72M	$27M
Sep '24	$58M	$3M	61.3%	6.1%	2.1%	0.8%	$3M	$73M	$24M
Jun '24	$58M	$3M	64.0%	9.6%	2.2%	0.8%	$10M	$74M	$28M
Mar '24	$59M	-$255M	62.1%	-460.6%	-175.1%	-57.0%	$12M	—	$28M
Dec '23	$53M	$2M	62.5%	-0.1%	0.5%	0.3%	$10M	—	$28M
Sep '23	$53M	-$1M	60.4%	-0.1%	-0.3%	-0.2%	$9M	—	$36M
Jun '23	$51M	-$549000	61.6%	-1.3%	-0.1%	-0.1%	$10M	—	$32M
Mar '23	$56M	$611000	59.7%	0.9%	0.2%	0.1%	$11M	—	$33M
Dec '22	$54M	$451000	60.4%	6.3%	0.1%	0.1%	$6M	—	$26M
Sep '22	$59M	$1M	61.9%	6.8%	0.3%	0.2%	$9M	—	$32M
Jun '22	$50M	-$1M	62.1%	-9.1%	-0.4%	-0.2%	-$3M	—	$44M
Mar '22	$59M	-$2M	59.6%	-0.2%	-0.5%	-0.3%	$9M	—	$49M
Dec '21	$55M	-$2M	52.3%	-4.6%	-0.5%	-0.3%	$14M	—	$52M
Sep '21	$36M	$4M	64.6%	11.7%	0.9%	0.6%	$3M	—	$278M
Jun '21	$35M	$2M	63.6%	8.9%	0.5%	0.3%	$9M	—	$276M

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 1053.3× (Mar '23) to 101.5× (Nov '26).
The price-to-sales ratio has fallen from 4.5× (Mar '23) to 2.7× (Nov '26).
The dividend yield has risen from 0.3% (Mar '23) to 0.5% (Nov '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?

Mesa Laboratories Inc /Co/'s P/E (TTM) is 101.47 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 MLAB stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 101.5× 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.