Income Statement IDEXX Laboratories, Inc.

Equities

IDXX

US45168D1046

Medical Equipment, Supplies & Distribution

Market Closed - Nasdaq Other stock markets 04:00:00 2025-12-16 pm EST			5-day change	1st Jan Change
693.18 ^USD	-1.05%		-0.84%	+67.66%

Dec. 09	Barclays Initiates IDEXX Laboratories With Overweight Rating, $850 Price Target	MT
Nov. 13	Idexx Laboratories, Inc. Announces Amendment No. 2 to Fourth Amended and Restated Credit Agreement	CI

9810609d61e834389c4.ktkTKHgTVfnwujyxRe59hKe4EkcukHIXwXx5Vl43t6M.36NRZCx7AJOXiUj9C5pMqZHsTXBm1Ad8i0sxCWxt88X3gUNjOlczjL7eXw

Published financial data: IDEXX LABORATORIES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	2.71B	3.22B	3.37B	3.66B	3.9B
Total Revenues	2.71B	3.22B	3.37B	3.66B	3.9B
Cost of Goods Sold, Total	1.14B	1.33B	1.36B	1.47B	1.52B
Gross Profit	1.57B	1.89B	2B	2.19B	2.38B
Selling General & Admin Expenses, Total	735M	796M	851M	902M	969M
R&D Expenses	141M	161M	255M	191M	220M
Other Operating Expenses, Total	877M	957M	1.11B	1.09B	1.19B
Operating Income	695M	932M	899M	1.1B	1.19B
Interest Expense, Total	-33.12M	-29.81M	-39.86M	-41.58M	-31.2M
Interest And Investment Income	586K	434K	1.06M	5.63M	12.7M
Net Interest Expenses	-32.54M	-29.37M	-38.79M	-35.95M	-18.51M
EBT, Excl. Unusual Items	662M	903M	860M	1.06B	1.17B
Asset Writedown	-	-	-	-	-
Legal Settlements	-	-	-	-	-61.5M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	662M	903M	860M	1.06B	1.11B
Income Tax Expense	79.85M	158M	181M	216M	222M
Earnings From Continuing Operations	582M	745M	679M	845M	888M
Net Income to Company	582M	745M	679M	845M	888M
Minority Interest	-355K	1K	-	-	-
Net Income - (IS)	582M	745M	679M	845M	888M
Net Income to Common Incl Extra Items	582M	745M	679M	845M	888M
Net Income to Common Excl. Extra Items	582M	745M	679M	845M	888M
Per Share Items
Net EPS - Basic	6.82	8.74	8.12	10.17	10.77
Basic EPS - Continuing Operations	6.82	8.74	8.12	10.17	10.77
Basic Weighted Average Shares Outstanding	85.34M	85.2M	83.62M	83.07M	82.47M
Net EPS - Diluted	6.71	8.6	8.03	10.06	10.67
Diluted EPS - Continuing Operations	6.71	8.6	8.03	10.06	10.67
Diluted Weighted Average Shares Outstanding	86.72M	86.57M	84.6M	83.98M	83.25M
Normalized Basic EPS	4.84	6.62	6.43	7.98	8.88
Normalized Diluted EPS	4.77	6.52	6.35	7.9	8.79
Supplemental Items
EBITDA	791M	1.04B	1.01B	1.21B	1.32B
EBITA	704M	944M	914M	1.11B	1.21B
EBIT	695M	932M	899M	1.1B	1.19B
EBITDAR	815M	1.06B	1.04B	1.24B	1.35B
Total Revenues (As Reported)	2.71B	3.22B	3.37B	3.66B	3.9B
Effective Tax Rate - (Ratio)	12.06	17.48	21.03	20.37	20
Current Domestic Taxes	90.27M	132M	181M	232M	205M
Current Foreign Taxes	26.3M	29.29M	35.14M	32.8M	41M
Total Current Taxes	117M	161M	216M	264M	246M
Deferred Domestic Taxes	-16.99M	-7.52M	-37.4M	-42.96M	-29.35M
Deferred Foreign Taxes	-19.72M	4.09M	2.52M	-5.34M	5.16M
Total Deferred Taxes	-36.71M	-3.44M	-34.88M	-48.31M	-24.19M
Normalized Net Income	413M	564M	537M	663M	732M
Interest on Long-Term Debt	33.12M	-	-	-	-
Non-Cash Pension Expense	-	-	1.5M	1.1M	1.3M
Supplemental Operating Expense Items
Advertising Expense	1.4M	3.3M	5M	4.2M	3.4M
Selling and Marketing Expenses	434M	487M	525M	566M	589M
General and Administrative Expenses	301M	310M	326M	336M	381M
Research And Development Expense From Footnotes	141M	161M	255M	191M	220M
Net Rental Expense, Total	24.5M	25.5M	28.7M	31.7M	34M
Imputed Operating Lease Interest Expense	6.26M	5.98M	7.32M	8.31M	8.26M
Imputed Operating Lease Depreciation	18.24M	19.52M	21.38M	23.39M	25.74M
Stock-Based Comp., COGS (Total)	3.42M	4.04M	4.64M	5.64M	6.01M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	27.54M	33.71M	45.13M	54.1M	54.28M
Total Stock-Based Compensation	30.95M	37.76M	49.77M	59.74M	60.3M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	384M	144M	113M	454M	288M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	384M	144M	113M	454M	288M
Accounts Receivable, Total	355M	406M	442M	513M	534M
Other Receivables	19.48M	19.46M	48.43M	16.97M	26.99M
Total Receivables	375M	426M	491M	530M	561M
Inventory	210M	269M	368M	380M	382M
Prepaid Expenses	34.56M	42M	41.74M	48.37M	58.63M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	59.64M	74.59M	88.46M	83.14M	110M
Total Current Assets	1.06B	956M	1.1B	1.5B	1.4B
Gross Property Plant And Equipment	1.23B	1.34B	1.47B	1.6B	1.66B
Accumulated Depreciation	-587M	-648M	-706M	-785M	-835M
Net Property Plant And Equipment	646M	693M	768M	818M	829M
Long-term Investments	-	-	30.25M	30.25M	31M
Goodwill	243M	359M	362M	366M	405M
Other Intangibles, Total	52.54M	99.04M	97.67M	84.5M	112M
Accounts Receivable Long-Term	91.68M	122M	149M	168M	186M
Deferred Tax Assets Long-Term	31.55M	24.78M	55.22M	107M	126M
Deferred Charges Long-Term	116M	122M	120M	-	-
Other Long-Term Assets, Total	50.28M	61.04M	63.37M	191M	205M
Total Assets	2.29B	2.44B	2.75B	3.26B	3.29B
Liabilities
Accounts Payable, Total	74.56M	116M	110M	111M	114M
Accrued Expenses, Total	343M	396M	360M	372M	418M
Short-term Borrowings	-	73.5M	579M	250M	250M
Current Portion of Long-Term Debt	49.99M	75M	74.98M	75M	168M
Current Portion of Leases	17.73M	19.93M	20.42M	19.8M	21.54M
Current Income Taxes Payable	42.68M	42.6M	48.55M	86.55M	62.25M
Unearned Revenue Current, Total	42.57M	40.03M	37.94M	37.2M	33.8M
Other Current Liabilities	12.37M	601K	4.57M	-	-
Total Current Liabilities	583M	764M	1.24B	952M	1.07B
Long-Term Debt	858M	775M	694M	623M	450M
Long-Term Leases	77.06M	87.39M	101M	99.67M	97.84M
Unearned Revenue Non Current	46.16M	41.17M	30.86M	28.53M	26.94M
Deferred Tax Liability Non Current	11.71M	8.94M	8.15M	7.24M	11.31M
Other Non Current Liabilities	85.58M	70.93M	67.59M	65.53M	44.34M
Total Liabilities	1.66B	1.75B	2.14B	1.78B	1.7B
Common Stock, Total	10.65M	10.69M	10.72M	10.75M	10.78M
Additional Paid In Capital	1.29B	1.38B	1.46B	1.57B	1.67B
Retained Earnings	2.18B	2.92B	3.6B	4.44B	5.33B
Treasury Stock	-2.8B	-3.57B	-4.39B	-4.47B	-5.33B
Comprehensive Income and Other	-49.11M	-47.76M	-72.61M	-65.68M	-87.76M
Total Common Equity	632M	690M	609M	1.48B	1.6B
Minority Interest	707K	-	-	-	-
Total Equity	633M	690M	609M	1.48B	1.6B
Total Liabilities And Equity	2.29B	2.44B	2.75B	3.26B	3.29B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	85.43M	84.25M	82.9M	83.09M	81.33M
ECS Total Common Shares Outstanding	85.45M	84.56M	82.89M	83.03M	81.6M
Book Value / Share	7.4	8.16	7.34	17.88	19.55
Tangible Book Value	336M	232M	149M	1.03B	1.08B
Tangible Book Value Per Share	3.93	2.74	1.8	12.45	13.22
Total Debt	1B	1.03B	1.47B	1.07B	987M
Net Debt	619M	887M	1.36B	613M	699M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-12.5M	-14.4M	-15.1M
Debt Equivalent Oper. Leases	196M	204M	230M	254M	272M
Minority Interest, Total (Incl. Fin. Div)	707K	-	-	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	45.99M	60.43M	92.8M	106M	104M
Inventories - Work In Process, Total	20.37M	26.4M	28.04M	28.99M	31.91M
Inventories - Finished Goods, Total	144M	182M	247M	245M	246M
Land - (BS)	13.98M	22.64M	22.22M	22.4M	23.99M
Buildings, Total	319M	329M	356M	432M	446M
Machinery, Total	686M	729M	773M	837M	891M
Full Time Employees	9.3K	10.35K	10.78K	11K	11K
Accumulated Allowance for Doubtful Accounts (Supple)	6.78M	5.67M	8.26M	9.5M	12.58M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	582M	745M	679M	845M	888M
Depreciation & Amortization - CF	86.2M	92.5M	96.9M	101M	113M
Amortization of Goodwill and Intangible Assets - (CF)	9.8M	12.1M	15M	13.8M	17.1M
Depreciation & Amortization, Total	96M	105M	112M	115M	130M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	2.5M	5.15M	2.35M	1.48M	250K
Stock-Based Compensation (CF)	30.95M	37.76M	49.77M	59.74M	60.3M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	4.95M	1.48M	5.83M	5.55M	6.87M
Other Operating Activities, Total	-36.35M	-759K	-32.42M	-47.79M	-22.98M
Change In Accounts Receivable	-60.72M	-33.14M	-41.4M	-53.87M	-28.28M
Change In Inventories	-18.88M	-52.92M	-122M	-28.65M	-28M
Change In Accounts Payable	981K	11.23M	3.47M	-557K	8.09M
Change in Unearned Revenues	-13.37M	-7.55M	-11.02M	-3.03M	-4.38M
Change in Other Net Operating Assets	60.24M	-55.14M	-103M	13.68M	-80.66M
Cash from Operations	648M	756M	543M	907M	929M
Capital Expenditure	-107M	-120M	-149M	-134M	-121M
Cash Acquisitions	-1.5M	-173M	-11.51M	-	-76.69M
Sale (Purchase) of Intangible assets	-918K	-	-10M	-	-10M
Investment in Marketable and Equity Securities, Total	-	-	-25M	-	-1M
Other Investing Activities, Total	-	-	-	8.38M	1.56M
Cash from Investing	-109M	-293M	-195M	-125M	-207M
Long-Term Debt Issued, Total	200M	73.5M	506M	-	-
Total Debt Issued	200M	73.5M	506M	-	-
Short Term Debt Repaid, Total	-	-	-	-329M	-
Long-Term Debt Repaid, Total	-290M	-50M	-75M	-75M	-75M
Total Debt Repaid	-290M	-50M	-75M	-404M	-75M
Issuance of Common Stock	51.33M	46.56M	35.75M	47.03M	44.49M
Repurchase of Common Stock	-203M	-762M	-830M	-81.9M	-848M
Other Financing Activities, Total	-6.7M	-5.14M	-6.87M	-3.14M	-
Cash from Financing	-248M	-697M	-371M	-442M	-878M
Foreign Exchange Rate Adjustments	3.33M	-4.64M	-8.61M	2.13M	-9.53M
Net Change in Cash	294M	-239M	-31.91M	341M	-166M
Supplemental Items
Cash Interest Paid	32.4M	30.5M	39.5M	41M	33.8M
Cash Income Tax Paid (Refund)	111M	162M	240M	192M	307M
Levered Free Cash Flow	437M	534M	328M	694M	735M
Unlevered Free Cash Flow	457M	553M	353M	720M	754M
Change In Net Working Capital	-4.25M	52.28M	211M	7.04M	48.47M
Net Debt Issued / Repaid	-89.62M	23.5M	430M	-404M	-75M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	21.04	24.62	21.67	22.83	22.7
Return on Total Capital	30.1	34.7	29.57	29.62	28.97
Return On Equity %	143.63	112.62	104.58	80.74	57.66
Return on Common Equity	143.73	112.68	104.58	80.74	57.66
Margin Analysis
Gross Profit Margin %	58.04	58.76	59.52	59.82	61.04
SG&A Margin	27.17	24.77	25.26	24.64	24.87
EBITDA Margin %	29.21	32.24	30.01	33.11	33.86
EBITA Margin %	26.02	29.36	27.14	30.35	30.97
EBIT Margin %	25.66	28.99	26.69	29.97	30.53
Income From Continuing Operations Margin %	21.51	23.17	20.17	23.08	22.78
Net Income Margin %	21.49	23.17	20.17	23.08	22.78
Net Avail. For Common Margin %	21.49	23.17	20.17	23.08	22.78
Normalized Net Income Margin	15.27	17.55	15.96	18.12	18.78
Levered Free Cash Flow Margin	16.13	16.62	9.75	18.95	18.86
Unlevered Free Cash Flow Margin	16.9	17.2	10.49	19.66	19.36
Asset Turnover
Asset Turnover	1.31	1.36	1.3	1.22	1.19
Fixed Assets Turnover	4.29	4.8	4.61	4.62	4.73
Receivables Turnover (Average Receivables)	8.43	8.45	7.94	7.67	7.45
Inventory Turnover (Average Inventory)	5.61	5.54	4.28	3.93	3.98
Short Term Liquidity
Current Ratio	1.82	1.25	0.89	1.57	1.31
Quick Ratio	1.3	0.75	0.49	1.03	0.8
Operating Cash Flow to Current Liabilities	1.11	0.99	0.44	0.95	0.87
Days Sales Outstanding (Average Receivables)	43.42	43.22	45.99	47.61	49.15
Days Outstanding Inventory (Average Inventory)	65.25	65.92	85.27	92.81	91.85
Average Days Payable Outstanding	23.34	25.13	28.26	27.17	27.07
Cash Conversion Cycle (Average Days)	85.33	84	103	113.25	113.93
Long Term Solvency
Total Debt/Equity	158.55	149.43	241.49	71.9	61.87
Total Debt / Total Capital	61.32	59.91	70.72	41.83	38.22
LT Debt/Equity	147.85	125.02	130.7	48.67	34.33
Long-Term Debt / Total Capital	57.18	50.12	38.27	28.31	21.21
Total Liabilities / Total Assets	72.42	71.69	77.84	54.46	51.56
EBIT / Interest Expense	20.97	31.27	22.55	26.39	38.13
EBITDA / Interest Expense	24.6	35.63	26.08	29.91	43.38
(EBITDA - Capex) / Interest Expense	21.38	31.62	22.34	26.7	39.51
Total Debt / EBITDA	1.23	0.97	1.41	0.86	0.73
Net Debt / EBITDA	0.76	0.83	1.31	0.49	0.52
Total Debt / (EBITDA - Capex)	1.42	1.09	1.65	0.96	0.8
Net Debt / (EBITDA - Capex)	0.87	0.94	1.52	0.55	0.57
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.45	18.79	4.73	8.72	6.46
Gross Profit, 1 Yr. Growth %	15.05	20.27	6.08	9.26	8.63
EBITDA, 1 Yr. Growth %	20.83	31.13	-2.5	19.92	8.89
EBITA, 1 Yr. Growth %	22.35	34.05	-3.22	21.58	8.64
EBIT, 1 Yr. Growth %	22.65	34.2	-3.57	22.07	8.45
Earnings From Cont. Operations, 1 Yr. Growth %	36.08	27.95	-8.83	24.44	5.07
Net Income, 1 Yr. Growth %	36.02	28.03	-8.83	24.44	5.07
Normalized Net Income, 1 Yr. Growth %	23.51	36.47	-4.73	23.4	10.38
Diluted EPS Before Extra, 1 Yr. Growth %	37.22	28.17	-6.63	25.28	6.06
Accounts Receivable, 1 Yr. Growth %	23.8	14.31	8.95	15.84	4.25
Inventory, 1 Yr. Growth %	7.62	28.19	36.72	3.39	0.42
Net Property, Plant and Equip., 1 Yr. Growth %	5.19	7.18	10.87	6.46	1.42
Total Assets, 1 Yr. Growth %	25.22	6.22	12.7	18.68	1.03
Tangible Book Value, 1 Yr. Growth %	-378.5	-31.11	-35.55	592.75	4.3
Common Equity, 1 Yr. Growth %	256.16	9.16	-11.78	143.87	7.46
Cash From Operations, 1 Yr. Growth %	41.14	16.59	-28.13	66.95	2.48
Capital Expenditures, 1 Yr. Growth %	-30.98	11.77	24.5	-10.22	-9.51
Levered Free Cash Flow, 1 Yr. Growth %	46.83	22.37	-38.59	111.39	5.95
Unlevered Free Cash Flow, 1 Yr. Growth %	44.37	20.91	-36.16	103.83	4.84
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	10.59	15.58	11.54	6.7	7.58
Gross Profit, 2 Yr. CAGR %	12.49	17.63	12.95	7.66	8.94
EBITDA, 2 Yr. CAGR %	17.3	26.12	13.07	8.13	14.27
EBITA, 2 Yr. CAGR %	18.66	28.35	13.9	8.47	14.93
EBIT, 2 Yr. CAGR %	18.89	28.58	13.76	8.5	15.06
Earnings From Cont. Operations, 2 Yr. CAGR %	24.25	31.95	8.01	6.51	14.34
Net Income, 2 Yr. CAGR %	24.22	31.96	8.04	6.51	14.34
Normalized Net Income, 2 Yr. CAGR %	20.21	30.14	14.03	8.43	16.71
Diluted EPS Before Extra, 2 Yr. CAGR %	25.5	32.62	9.39	8.16	15.27
Accounts Receivable, 2 Yr. CAGR %	17.23	18.96	11.6	12.34	9.89
Inventory, 2 Yr. CAGR %	10.05	17.45	32.39	18.89	1.89
Net Property, Plant and Equip., 2 Yr. CAGR %	21.58	6.18	9.01	8.64	3.9
Total Assets, 2 Yr. CAGR %	22.17	15.33	9.41	15.65	9.5
Tangible Book Value, 2 Yr. CAGR %	12.46	38.51	-33.37	111.3	168.8
Common Equity, 2 Yr. CAGR %	715.14	97.18	-1.86	46.68	61.89
Cash From Operations, 2 Yr. CAGR %	27.27	28.28	-8.47	9.54	30.8
Capital Expenditures, 2 Yr. CAGR %	-3.87	-12.17	17.96	5.73	-9.86
Levered Free Cash Flow, 2 Yr. CAGR %	29.01	34.4	-13.34	13.93	49.66
Unlevered Free Cash Flow, 2 Yr. CAGR %	26.89	32.45	-12.17	14.08	46.18
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.19	13.26	11.84	10.59	6.62
Gross Profit, 3 Yr. CAGR %	12.7	15.02	13.65	11.71	7.98
EBITDA, 3 Yr. CAGR %	16.8	21.74	15.75	15.31	8.38
EBITA, 3 Yr. CAGR %	18.62	23.58	16.82	16.4	8.53
EBIT, 3 Yr. CAGR %	18.91	23.79	16.82	16.46	8.48
Earnings From Cont. Operations, 3 Yr. CAGR %	30.28	25.47	16.65	13.23	6.03
Net Income, 3 Yr. CAGR %	30.27	25.48	16.66	13.25	6.03
Normalized Net Income, 3 Yr. CAGR %	20.2	25.4	17.29	17.07	9.07
Diluted EPS Before Extra, 3 Yr. CAGR %	31.66	26.39	17.98	14.45	7.45
Accounts Receivable, 3 Yr. CAGR %	14.84	16.25	15.53	13	9.58
Inventory, 3 Yr. CAGR %	8.5	15.79	23.55	21.91	12.38
Net Property, Plant and Equip., 3 Yr. CAGR %	19.46	16.58	7.72	8.15	6.18
Total Assets, 3 Yr. CAGR %	10.22	16.6	14.44	12.42	10.56
Tangible Book Value, 3 Yr. CAGR %	4.12	-4.49	7.33	45.43	66.99
Common Equity, 3 Yr. CAGR %	126.9	317.04	50.81	32.92	32.23
Cash From Operations, 3 Yr. CAGR %	20.19	23.61	5.75	11.84	7.13
Capital Expenditures, 3 Yr. CAGR %	12.87	1.08	-1.34	7.7	0.38
Levered Free Cash Flow, 3 Yr. CAGR %	21.33	26.76	3.52	16.66	11.21
Unlevered Free Cash Flow, 3 Yr. CAGR %	19.54	24.86	3.85	16.29	10.91
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.06	12.61	11.33	10.59	10.12
Gross Profit, 5 Yr. CAGR %	12.03	14.14	12.8	12.02	11.74
EBITDA, 5 Yr. CAGR %	15.96	19.2	15.29	16.1	15.16
EBITA, 5 Yr. CAGR %	17.2	21.14	16.71	17.3	16.06
EBIT, 5 Yr. CAGR %	17.65	21.47	16.82	17.43	16.11
Earnings From Cont. Operations, 5 Yr. CAGR %	24.82	27.39	20.87	17.52	15.72
Net Income, 5 Yr. CAGR %	24.81	27.39	20.88	17.52	15.73
Normalized Net Income, 5 Yr. CAGR %	18.65	22.74	17.69	18.31	17.06
Diluted EPS Before Extra, 5 Yr. CAGR %	26.76	28.65	22.26	18.75	16.89
Accounts Receivable, 5 Yr. CAGR %	13.54	14.71	13.53	14.67	13.24
Inventory, 5 Yr. CAGR %	2.14	11.23	17.49	17.02	14.39
Net Property, Plant and Equip., 5 Yr. CAGR %	14.18	14.15	15.17	13.34	6.18
Total Assets, 5 Yr. CAGR %	9.24	9.75	9.9	16.22	12.44
Tangible Book Value, 5 Yr. CAGR %	1.06	-6.99	-12.9	31.22	54.96
Common Equity, 5 Yr. CAGR %	49.68	44.81	62.27	174.57	55.15
Cash From Operations, 5 Yr. CAGR %	23.92	17.39	7.78	17.77	15.14
Capital Expenditures, 5 Yr. CAGR %	5.22	13.03	14.88	2.91	-4.84
Levered Free Cash Flow, 5 Yr. CAGR %	23.85	12.34	6.06	21.46	19.96
Unlevered Free Cash Flow, 5 Yr. CAGR %	22.16	11.65	5.69	20.43	19.07