IDEXX LABORATORIES INC (IDXX) Stock Fundamental Analysis
NASDAQ:IDXX - Nasdaq - US45168D1046 - Common Stock - Currency: USD
Taking everything into account, IDXX scores 7 out of 10 in our fundamental rating. IDXX was compared to 191 industry peers in the Health Care Equipment & Supplies industry. Both the health and profitability get an excellent rating, making IDXX a very profitable company, without any liquidiy or solvency issues. 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.
IDXX had positive earnings in each of the past 5 years.
Each year in the past 5 years IDXX had a positive operating cash flow.
1.2 Ratios
The Return On Assets of IDXX (26.96%) is better than 98.95% of its industry peers.
Looking at the Return On Equity, with a value of 55.65%, IDXX belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
With an excellent Return On Invested Capital value of 36.38%, IDXX belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
IDXX had an Average Return On Invested Capital over the past 3 years of 35.08%. This is significantly above the industry average of 7.68%.
The last Return On Invested Capital (36.38%) for IDXX is above the 3 year average (35.08%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.96% | ||
| ROE | 55.65% | ||
| ROIC | 36.38% |
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
The Profit Margin of IDXX (22.78%) is better than 94.76% of its industry peers.
In the last couple of years the Profit Margin of IDXX has grown nicely.
Looking at the Operating Margin, with a value of 28.95%, IDXX belongs to the top of the industry, outperforming 97.38% of the companies in the same industry.
In the last couple of years the Operating Margin of IDXX has grown nicely.
IDXX's Gross Margin of 61.04% is fine compared to the rest of the industry. IDXX outperforms 61.26% of its industry peers.
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 | 28.95% | ||
| PM (TTM) | 22.78% | ||
| GM | 61.04% |
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
IDXX has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
IDXX has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, IDXX has less shares outstanding
The debt/assets ratio for IDXX has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 16.92 indicates that IDXX is not in any danger for bankruptcy at the moment.
With an excellent Altman-Z score value of 16.92, IDXX belongs to the best of the industry, outperforming 95.29% of the companies in the same industry.
IDXX has a debt to FCF ratio of 1.09. This is a very positive value and a sign of high solvency as it would only need 1.09 years to pay back of all of its debts.
IDXX's Debt to FCF ratio of 1.09 is amongst the best of the industry. IDXX outperforms 92.67% of its industry peers.
IDXX has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
IDXX has a Debt to Equity ratio (0.44) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | 1.09 | ||
| Altman-Z | 16.92 |
ROIC/WACC3.72
WACC9.77%
2.3 Liquidity
IDXX has a Current Ratio of 1.31. This is a normal value and indicates that IDXX is financially healthy and should not expect problems in meeting its short term obligations.
IDXX's Current ratio of 1.31 is on the low side compared to the rest of the industry. IDXX is outperformed by 76.44% of its industry peers.
A Quick Ratio of 0.95 indicates that IDXX may have some problems paying its short term obligations.
IDXX's Quick ratio of 0.95 is on the low side compared to the rest of the industry. IDXX is outperformed by 78.01% of its industry peers.
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 | 1.31 | ||
| Quick Ratio | 0.95 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 11.72% over the past year.
IDXX shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.18% yearly.
The Revenue has been growing slightly by 6.46% in the past year.
IDXX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.12% yearly.
EPS 1Y (TTM)11.72%
EPS 3Y9.32%
EPS 5Y18.18%
EPS Q2Q%12.93%
Revenue 1Y (TTM)6.46%
Revenue growth 3Y6.62%
Revenue growth 5Y10.12%
Sales Q2Q%5.84%
3.2 Future
The Earnings Per Share is expected to grow by 10.36% on average over the next years. This is quite good.
The Revenue is expected to grow by 7.39% on average over the next years.
EPS Next Y8.67%
EPS Next 2Y10.64%
EPS Next 3Y11.3%
EPS Next 5Y10.36%
Revenue Next Year6.12%
Revenue Next 2Y6.92%
Revenue Next 3Y7.47%
Revenue Next 5Y7.39%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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 decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 39.20, IDXX can be considered very expensive at the moment.
70.68% of the companies in the same industry are more expensive than IDXX, based on the Price/Earnings ratio.
IDXX is valuated rather expensively when we compare the Price/Earnings ratio to 28.92, which is the current average of the S&P500 Index.
IDXX is valuated quite expensively with a Price/Forward Earnings ratio of 36.07.
71.73% of the companies in the same industry are more expensive than IDXX, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of IDXX to the average of the S&P500 Index (21.65), we can say IDXX is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.2 | ||
| Fwd PE | 36.07 |
4.2 Price Multiples
69.11% of the companies in the same industry are more expensive than IDXX, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, IDXX is valued a bit cheaper than 74.35% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 44.78 | ||
| EV/EBITDA | 27.74 |
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.
IDXX has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)4.52
PEG (5Y)2.16
EPS Next 2Y10.64%
EPS Next 3Y11.3%
5. Dividend
5.1 Amount
No dividends for IDXX!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
440.98
+14.35 (+3.36%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners91.99%
Inst Owner Change1.14%
Ins Owners0.18%
Ins Owner Change1.87%
Market Cap35.74B
Analysts78
Price Target522.16 (18.41%)
Short Float %3.4%
Short Ratio3.75
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)4.69%
Min EPS beat(2)2.49%
Max EPS beat(2)6.89%
EPS beat(4)4
Avg EPS beat(4)3.83%
Min EPS beat(4)2.49%
Max EPS beat(4)6.89%
EPS beat(8)8
Avg EPS beat(8)4.58%
EPS beat(12)10
Avg EPS beat(12)3.35%
EPS beat(16)14
Avg EPS beat(16)6.29%
Revenue beat(2)1
Avg Revenue beat(2)-1.13%
Min Revenue beat(2)-2.33%
Max Revenue beat(2)0.06%
Revenue beat(4)1
Avg Revenue beat(4)-1.65%
Min Revenue beat(4)-2.33%
Max Revenue beat(4)0.06%
Revenue beat(8)1
Avg Revenue beat(8)-1.58%
Revenue beat(12)1
Avg Revenue beat(12)-1.59%
Revenue beat(16)4
Avg Revenue beat(16)-0.79%
PT rev (1m)-0.12%
PT rev (3m)4.52%
EPS NQ rev (1m)0.13%
EPS NQ rev (3m)-4.37%
EPS NY rev (1m)0%
EPS NY rev (3m)0.03%
Revenue NQ rev (1m)-0.2%
Revenue NQ rev (3m)-2.02%
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)-0.99%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.2 | ||
| Fwd PE | 36.07 | ||
| P/S | 9.17 | ||
| P/FCF | 44.78 | ||
| P/OCF | 38.47 | ||
| P/B | 22.4 | ||
| P/tB | 33.13 | ||
| EV/EBITDA | 27.74 |
EPS(TTM)11.25
EY2.55%
EPS(NY)12.23
Fwd EY2.77%
FCF(TTM)9.85
FCFY2.23%
OCF(TTM)11.46
OCFY2.6%
SpS48.09
BVpS19.69
TBVpS13.31
PEG (NY)4.52
PEG (5Y)2.16
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.96% | ||
| ROE | 55.65% | ||
| ROCE | 50.7% | ||
| ROIC | 36.38% | ||
| ROICexc | 41.17% | ||
| ROICexgc | 53.91% | ||
| OM | 28.95% | ||
| PM (TTM) | 22.78% | ||
| GM | 61.04% | ||
| FCFM | 20.48% |
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-Score8
Asset Turnover1.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.44 | ||
| Debt/FCF | 1.09 | ||
| Debt/EBITDA | 0.56 | ||
| Cap/Depr | 100.76% | ||
| Cap/Sales | 3.36% | ||
| Interest Coverage | 3.34 | ||
| Cash Conversion | 73.83% | ||
| Profit Quality | 89.89% | ||
| Current Ratio | 1.31 | ||
| Quick Ratio | 0.95 | ||
| Altman-Z | 16.92 |
F-Score8
WACC9.77%
ROIC/WACC3.72
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)11.72%
EPS 3Y9.32%
EPS 5Y18.18%
EPS Q2Q%12.93%
EPS Next Y8.67%
EPS Next 2Y10.64%
EPS Next 3Y11.3%
EPS Next 5Y10.36%
Revenue 1Y (TTM)6.46%
Revenue growth 3Y6.62%
Revenue growth 5Y10.12%
Sales Q2Q%5.84%
Revenue Next Year6.12%
Revenue Next 2Y6.92%
Revenue Next 3Y7.47%
Revenue Next 5Y7.39%
EBIT growth 1Y2.85%
EBIT growth 3Y6.64%
EBIT growth 5Y15.38%
EBIT Next Year27.01%
EBIT Next 3Y14.52%
EBIT Next 5Y11.31%
FCF growth 1Y3.26%
FCF growth 3Y7.86%
FCF growth 5Y21.29%
OCF growth 1Y2.48%
OCF growth 3Y7.13%
OCF growth 5Y15.13%