IDEXX LABORATORIES INC (IDXX) Stock Fundamental Analysis
NASDAQ:IDXX - US45168D1046 - Common Stock
641.35 USD
-4.2 (-0.65%)
641.35 USD
0 (0%)
Overall IDXX gets a fundamental rating of 7 out of 10. We evaluated IDXX against 185 industry peers in the Health Care Equipment & Supplies industry. IDXX gets an excellent profitability rating and is at the same time showing great financial health properties. IDXX has a decent growth rate and is not valued too expensively. With these ratings, IDXX could be worth investigating further for quality investing!.
1. Profitability
1.1 Basic Checks
IDXX had positive earnings in the past year.
In the past year IDXX had a positive cash flow from operations.
Each year in the past 5 years IDXX has been profitable.
IDXX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With an excellent Return On Assets value of 29.59%, IDXX belongs to the best of the industry, outperforming 98.92% of the companies in the same industry.
IDXX has a better Return On Equity (67.56%) than 99.46% of its industry peers.
IDXX's Return On Invested Capital of 37.30% is amongst the best of the industry. IDXX outperforms 100.00% of its industry peers.
IDXX had an Average Return On Invested Capital over the past 3 years of 35.08%. This is significantly above the industry average of 8.44%.
The 3 year average ROIC (35.08%) for IDXX is below the current ROIC(37.30%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 29.59% | ||
| ROE | 67.56% | ||
| ROIC | 37.3% |
ROA(3y)25.87%
ROA(5y)26.7%
ROE(3y)74.71%
ROE(5y)84.83%
ROIC(3y)35.08%
ROIC(5y)36.07%
1.3 Margins
IDXX has a Profit Margin of 24.41%. This is amongst the best in the industry. IDXX outperforms 94.05% of its industry peers.
IDXX's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 31.09%, IDXX belongs to the top of the industry, outperforming 97.84% of the companies in the same industry.
In the last couple of years the Operating Margin of IDXX has grown nicely.
With a decent Gross Margin value of 61.54%, IDXX is doing good in the industry, outperforming 62.16% of the companies in the same industry.
In the last couple of years the Gross Margin of IDXX has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 31.09% | ||
| PM (TTM) | 24.41% | ||
| GM | 61.54% |
OM growth 3Y0.02%
OM growth 5Y4.78%
PM growth 3Y-0.55%
PM growth 5Y5.09%
GM growth 3Y1.27%
GM growth 5Y1.47%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so IDXX is creating value.
Compared to 1 year ago, IDXX has less shares outstanding
IDXX has less shares outstanding than it did 5 years ago.
The debt/assets ratio for IDXX has been reduced compared to a year ago.
2.2 Solvency
IDXX has an Altman-Z score of 21.53. This indicates that IDXX is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 21.53, IDXX belongs to the best of the industry, outperforming 96.22% of the companies in the same industry.
The Debt to FCF ratio of IDXX is 1.43, which is an excellent value as it means it would take IDXX, only 1.43 years of fcf income to pay off all of its debts.
With an excellent Debt to FCF ratio value of 1.43, IDXX belongs to the best of the industry, outperforming 89.73% of the companies in the same industry.
IDXX has a Debt/Equity ratio of 0.71. This is a neutral value indicating IDXX is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.71, IDXX is doing worse than 73.51% of the companies in the same industry.
Even though the debt/equity ratio score it not favorable for IDXX, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 1.43 | ||
| Altman-Z | 21.53 |
ROIC/WACC4.03
WACC9.26%
2.3 Liquidity
A Current Ratio of 1.11 indicates that IDXX should not have too much problems paying its short term obligations.
IDXX's Current ratio of 1.11 is on the low side compared to the rest of the industry. IDXX is outperformed by 87.57% of its industry peers.
IDXX has a Quick Ratio of 1.11. This is a bad value and indicates that IDXX is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.79, IDXX is not doing good in the industry: 88.11% of the companies in the same industry are doing better.
The current and quick ratio evaluation for IDXX is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.11 | ||
| Quick Ratio | 0.79 |
3. Growth
3.1 Past
IDXX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.45%, which is quite good.
The Earnings Per Share has been growing by 18.18% on average over the past years. This is quite good.
IDXX shows a small growth in Revenue. In the last year, the Revenue has grown by 6.68%.
The Revenue has been growing by 10.12% on average over the past years. This is quite good.
EPS 1Y (TTM)12.45%
EPS 3Y9.32%
EPS 5Y18.18%
EPS Q2Q%20.2%
Revenue 1Y (TTM)6.68%
Revenue growth 3Y6.62%
Revenue growth 5Y10.12%
Sales Q2Q%10.55%
3.2 Future
The Earnings Per Share is expected to grow by 11.68% on average over the next years. This is quite good.
Based on estimates for the next years, IDXX will show a quite strong growth in Revenue. The Revenue will grow by 8.61% on average per year.
EPS Next Y14.26%
EPS Next 2Y13.24%
EPS Next 3Y13.08%
EPS Next 5Y11.68%
Revenue Next Year9.1%
Revenue Next 2Y8.62%
Revenue Next 3Y8.63%
Revenue Next 5Y8.61%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 53.40 indicates a quite expensive valuation of IDXX.
Based on the Price/Earnings ratio, IDXX is valued a bit cheaper than the industry average as 68.11% of the companies are valued more expensively.
IDXX's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.24.
A Price/Forward Earnings ratio of 44.46 indicates a quite expensive valuation of IDXX.
Compared to the rest of the industry, the Price/Forward Earnings ratio of IDXX indicates a somewhat cheap valuation: IDXX is cheaper than 68.65% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.81. IDXX is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 53.4 | ||
| Fwd PE | 44.46 |
4.2 Price Multiples
IDXX's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. IDXX is cheaper than 68.65% of the companies in the same industry.
IDXX's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. IDXX is cheaper than 72.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 66.26 | ||
| EV/EBITDA | 37.34 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates IDXX does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of IDXX may justify a higher PE ratio.
A more expensive valuation may be justified as IDXX's earnings are expected to grow with 13.08% in the coming years.
PEG (NY)3.74
PEG (5Y)2.94
EPS Next 2Y13.24%
EPS Next 3Y13.08%
5. Dividend
5.1 Amount
No dividends for IDXX!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
641.35
-4.2 (-0.65%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners97.51%
Inst Owner Change-1.47%
Ins Owners0.19%
Ins Owner Change2.21%
Market Cap51.31B
Analysts79.05
Price Target691.47 (7.81%)
Short Float %3.11%
Short Ratio4.09
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.76%
Min EPS beat(2)1.72%
Max EPS beat(2)7.81%
EPS beat(4)4
Avg EPS beat(4)4.73%
Min EPS beat(4)1.72%
Max EPS beat(4)7.81%
EPS beat(8)8
Avg EPS beat(8)4.6%
EPS beat(12)12
Avg EPS beat(12)4.41%
EPS beat(16)14
Avg EPS beat(16)3.9%
Revenue beat(2)1
Avg Revenue beat(2)-0.02%
Min Revenue beat(2)-1.92%
Max Revenue beat(2)1.88%
Revenue beat(4)2
Avg Revenue beat(4)-0.58%
Min Revenue beat(4)-2.33%
Max Revenue beat(4)1.88%
Revenue beat(8)2
Avg Revenue beat(8)-1.32%
Revenue beat(12)2
Avg Revenue beat(12)-1.2%
Revenue beat(16)3
Avg Revenue beat(16)-1.19%
PT rev (1m)27.59%
PT rev (3m)32.8%
EPS NQ rev (1m)0.87%
EPS NQ rev (3m)1.44%
EPS NY rev (1m)3.54%
EPS NY rev (3m)3.82%
Revenue NQ rev (1m)2.15%
Revenue NQ rev (3m)3.6%
Revenue NY rev (1m)2.2%
Revenue NY rev (3m)2.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 53.4 | ||
| Fwd PE | 44.46 | ||
| P/S | 12.71 | ||
| P/FCF | 66.26 | ||
| P/OCF | 56.64 | ||
| P/B | 35.17 | ||
| P/tB | 54.55 | ||
| EV/EBITDA | 37.34 |
EPS(TTM)12.01
EY1.87%
EPS(NY)14.43
Fwd EY2.25%
FCF(TTM)9.68
FCFY1.51%
OCF(TTM)11.32
OCFY1.77%
SpS50.47
BVpS18.24
TBVpS11.76
PEG (NY)3.74
PEG (5Y)2.94
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 29.59% | ||
| ROE | 67.56% | ||
| ROCE | 59.57% | ||
| ROIC | 37.3% | ||
| ROICexc | 39.73% | ||
| ROICexgc | 50.01% | ||
| OM | 31.09% | ||
| PM (TTM) | 24.41% | ||
| GM | 61.54% | ||
| FCFM | 19.18% |
ROA(3y)25.87%
ROA(5y)26.7%
ROE(3y)74.71%
ROE(5y)84.83%
ROIC(3y)35.08%
ROIC(5y)36.07%
ROICexc(3y)39.8%
ROICexc(5y)41.54%
ROICexgc(3y)51.52%
ROICexgc(5y)54.69%
ROCE(3y)52.73%
ROCE(5y)50.92%
ROICexcg growth 3Y-5.99%
ROICexcg growth 5Y4.29%
ROICexc growth 3Y-3.86%
ROICexc growth 5Y4.07%
OM growth 3Y0.02%
OM growth 5Y4.78%
PM growth 3Y-0.55%
PM growth 5Y5.09%
GM growth 3Y1.27%
GM growth 5Y1.47%
F-Score7
Asset Turnover1.21
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 1.43 | ||
| Debt/EBITDA | 0.74 | ||
| Cap/Depr | 95.5% | ||
| Cap/Sales | 3.26% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 65.03% | ||
| Profit Quality | 78.56% | ||
| Current Ratio | 1.11 | ||
| Quick Ratio | 0.79 | ||
| Altman-Z | 21.53 |
F-Score7
WACC9.26%
ROIC/WACC4.03
Cap/Depr(3y)119.66%
Cap/Depr(5y)117.12%
Cap/Sales(3y)3.91%
Cap/Sales(5y)3.89%
Profit Quality(3y)79.31%
Profit Quality(5y)83.23%
High Growth Momentum
Growth
EPS 1Y (TTM)12.45%
EPS 3Y9.32%
EPS 5Y18.18%
EPS Q2Q%20.2%
EPS Next Y14.26%
EPS Next 2Y13.24%
EPS Next 3Y13.08%
EPS Next 5Y11.68%
Revenue 1Y (TTM)6.68%
Revenue growth 3Y6.62%
Revenue growth 5Y10.12%
Sales Q2Q%10.55%
Revenue Next Year9.1%
Revenue Next 2Y8.62%
Revenue Next 3Y8.63%
Revenue Next 5Y8.61%
EBIT growth 1Y15.86%
EBIT growth 3Y6.64%
EBIT growth 5Y15.38%
EBIT Next Year29.28%
EBIT Next 3Y15.92%
EBIT Next 5Y13.77%
FCF growth 1Y30.65%
FCF growth 3Y7.86%
FCF growth 5Y21.29%
OCF growth 1Y21.32%
OCF growth 3Y7.13%
OCF growth 5Y15.13%