IDEXX LABORATORIES INC (IDXX) Stock Fundamental Analysis
USA - NASDAQ:IDXX - US45168D1046 - Common Stock
629.51 USD
+0.97 (+0.15%)
634.89 USD
+5.38 (+0.85%)
We assign a fundamental rating of 7 out of 10 to IDXX. IDXX was compared to 189 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. These ratings would make IDXX suitable for quality investing!
1. Profitability
1.1 Basic Checks
In the past year IDXX was profitable.
IDXX had a positive operating cash flow in the past year.
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
Looking at the Return On Assets, with a value of 29.59%, IDXX belongs to the top of the industry, outperforming 98.94% of the companies in the same industry.
IDXX has a Return On Equity of 67.56%. This is amongst the best in the industry. IDXX outperforms 99.47% of its industry peers.
IDXX has a Return On Invested Capital of 37.30%. This is amongst the best in the industry. IDXX outperforms 99.47% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for IDXX is significantly above the industry average of 9.01%.
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's Profit Margin of 24.41% is amongst the best of the industry. IDXX outperforms 94.18% 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 97.88% of the companies in the same industry.
IDXX's Operating Margin has improved in the last couple of years.
IDXX's Gross Margin of 61.54% is fine compared to the rest of the industry. IDXX outperforms 62.96% of its industry peers.
IDXX's Gross Margin has been stable in the last couple of years.
| 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
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), IDXX is creating value.
Compared to 1 year ago, IDXX has less shares outstanding
Compared to 5 years ago, IDXX has less shares outstanding
IDXX has a better debt/assets ratio than last year.
2.2 Solvency
IDXX has an Altman-Z score of 21.09. This indicates that IDXX is financially healthy and has little risk of bankruptcy at the moment.
IDXX has a Altman-Z score of 21.09. This is amongst the best in the industry. IDXX outperforms 95.24% of its industry peers.
IDXX has a debt to FCF ratio of 1.43. This is a very positive value and a sign of high solvency as it would only need 1.43 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 1.43, IDXX belongs to the top of the industry, outperforming 89.95% 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.
IDXX has a Debt to Equity ratio of 0.71. This is in the lower half of the industry: IDXX underperforms 70.37% of its industry peers.
Although IDXX does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.71 | ||
| Debt/FCF | 1.43 | ||
| Altman-Z | 21.09 |
ROIC/WACC4.09
WACC9.12%
2.3 Liquidity
A Current Ratio of 1.11 indicates that IDXX should not have too much problems paying its short term obligations.
The Current ratio of IDXX (1.11) is worse than 85.71% of its industry peers.
A Quick Ratio of 0.79 indicates that IDXX may have some problems paying its short term obligations.
With a Quick ratio value of 0.79, IDXX is not doing good in the industry: 84.66% 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.
Looking at the last year, IDXX shows a small growth in Revenue. The Revenue has grown by 6.68% in the last year.
Measured over the past years, IDXX shows a quite strong growth in Revenue. The Revenue has been growing by 10.12% on average per year.
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
IDXX is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.68% yearly.
IDXX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.69% yearly.
EPS Next Y14.37%
EPS Next 2Y13.27%
EPS Next 3Y13.08%
EPS Next 5Y11.68%
Revenue Next Year9.1%
Revenue Next 2Y8.66%
Revenue Next 3Y8.63%
Revenue Next 5Y8.69%
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.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 52.42 indicates a quite expensive valuation of IDXX.
Compared to the rest of the industry, the Price/Earnings ratio of IDXX indicates a somewhat cheap valuation: IDXX is cheaper than 68.25% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 26.10. IDXX is valued rather expensively when compared to this.
The Price/Forward Earnings ratio is 43.61, which means the current valuation is very expensive for IDXX.
70.90% 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 (22.52), we can say IDXX is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 52.42 | ||
| Fwd PE | 43.61 |
4.2 Price Multiples
IDXX's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. IDXX is cheaper than 69.84% 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 73.02% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 65.04 | ||
| EV/EBITDA | 36.36 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
IDXX has an outstanding profitability rating, which 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)3.65
PEG (5Y)2.88
EPS Next 2Y13.27%
EPS Next 3Y13.08%
5. Dividend
5.1 Amount
IDXX does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
629.51
+0.97 (+0.15%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners97.04%
Inst Owner Change-0.21%
Ins Owners0.2%
Ins Owner Change2.22%
Market Cap50.36B
Revenue(TTM)4.04B
Net Income(TTM)985.66M
Analysts79.05
Price Target697.54 (10.81%)
Short Float %2.24%
Short Ratio4.35
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)0.43%
PT rev (3m)28.15%
EPS NQ rev (1m)0.16%
EPS NQ rev (3m)1.03%
EPS NY rev (1m)0.13%
EPS NY rev (3m)3.64%
Revenue NQ rev (1m)0.09%
Revenue NQ rev (3m)2.24%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)2.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 52.42 | ||
| Fwd PE | 43.61 | ||
| P/S | 12.47 | ||
| P/FCF | 65.04 | ||
| P/OCF | 55.6 | ||
| P/B | 34.52 | ||
| P/tB | 53.54 | ||
| EV/EBITDA | 36.36 |
EPS(TTM)12.01
EY1.91%
EPS(NY)14.44
Fwd EY2.29%
FCF(TTM)9.68
FCFY1.54%
OCF(TTM)11.32
OCFY1.8%
SpS50.47
BVpS18.24
TBVpS11.76
PEG (NY)3.65
PEG (5Y)2.88
Graham Number70.2
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%
ROICexgc growth 3Y-5.99%
ROICexgc 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 | 21.09 |
F-Score7
WACC9.12%
ROIC/WACC4.09
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 Y14.37%
EPS Next 2Y13.27%
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 2Y8.66%
Revenue Next 3Y8.63%
Revenue Next 5Y8.69%
EBIT growth 1Y15.86%
EBIT growth 3Y6.64%
EBIT growth 5Y15.38%
EBIT Next Year31.91%
EBIT Next 3Y16.8%
EBIT Next 5Y14.07%
FCF growth 1Y30.65%
FCF growth 3Y7.86%
FCF growth 5Y21.29%
OCF growth 1Y21.32%
OCF growth 3Y7.13%
OCF growth 5Y15.13%
IDEXX LABORATORIES INC / IDXX FAQ
What is the ChartMill fundamental rating of IDEXX LABORATORIES INC (IDXX) stock?
ChartMill assigns a fundamental rating of 7 / 10 to IDXX.
Can you provide the valuation status for IDEXX LABORATORIES INC?
ChartMill assigns a valuation rating of 4 / 10 to IDEXX LABORATORIES INC (IDXX). This can be considered as Fairly Valued.
Can you provide the profitability details for IDEXX LABORATORIES INC?
IDEXX LABORATORIES INC (IDXX) has a profitability rating of 9 / 10.
What is the valuation of IDEXX LABORATORIES INC based on its PE and PB ratios?
The Price/Earnings (PE) ratio for IDEXX LABORATORIES INC (IDXX) is 52.42 and the Price/Book (PB) ratio is 34.52.
Can you provide the expected EPS growth for IDXX stock?
The Earnings per Share (EPS) of IDEXX LABORATORIES INC (IDXX) is expected to grow by 14.37% in the next year.