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IDXX 
IDEXX Laboratories Inc (IDXX)
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Upturn Advisory Summary
02/20/2025: IDXX (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Analysis of Past Performance
Type Stock | Historic Profit -8.38% | Avg. Invested days 29 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 02/20/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 37.08B USD | Price to earnings Ratio 42.36 | 1Y Target Price 501.62 |
Price to earnings Ratio 42.36 | 1Y Target Price 501.62 | ||
Volume (30-day avg) 730326 | Beta 1.37 | 52 Weeks Range 398.50 - 583.39 | Updated Date 02/20/2025 |
52 Weeks Range 398.50 - 583.39 | Updated Date 02/20/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 10.69 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-02-03 | When Before Market | Estimate 2.3989 | Actual 2.62 |
Profitability
Profit Margin 22.78% | Operating Margin (TTM) 27.42% |
Management Effectiveness
Return on Assets (TTM) 21.52% | Return on Equity (TTM) 57.66% |
Valuation
Trailing PE 42.36 | Forward PE 38.46 | Enterprise Value 37508471617 | Price to Sales(TTM) 9.51 |
Enterprise Value 37508471617 | Price to Sales(TTM) 9.51 | ||
Enterprise Value to Revenue 9.62 | Enterprise Value to EBITDA 33.24 | Shares Outstanding 81884704 | Shares Floating 80948149 |
Shares Outstanding 81884704 | Shares Floating 80948149 | ||
Percent Insiders 1.18 | Percent Institutions 92.31 |
AI Summary
IDEXX Laboratories Inc.: A Comprehensive Overview
Company Profile:
History and Background:
IDEXX Laboratories Inc. (IDXX) is a global leader in veterinary diagnostics, providing products and services for the companion animal, livestock, and poultry industries. Founded in 1983, IDEXX has grown from a small startup to a Fortune 500 company with over 10,000 employees worldwide.
Core Business Areas:
- Companion Animal Segment: Offers diagnostic tests, vaccines, and software solutions for dogs, cats, and other companion animals.
- Livestock and Poultry Segment: Provides diagnostic tests, vaccines, and biosecurity solutions for cattle, swine, poultry, and other livestock.
- Water Segment: Offers water testing and treatment solutions for human and animal consumption.
Leadership and Corporate Structure:
- Jonathan Ayers: Chairman and Chief Executive Officer
- Jay Mazelsky: President and Chief Operating Officer
- Jeffrey Stover: Executive Vice President and Chief Financial Officer
- Board of Directors: Comprised of experienced individuals from various industries.
Top Products and Market Share:
Top Products:
- Snap® Tests: In-clinic diagnostic tests for various diseases and conditions.
- Vetscan® Instruments: Point-of-care diagnostic instruments for blood chemistry, electrolyte, and hematology analysis.
- IDEXX SDMA Test: Early detection test for kidney disease in dogs and cats.
- Cornell Feline Health Center: Extensive diagnostic and treatment resources for feline health.
Market Share:
- Global Leader: IDEXX holds over 50% market share in the global veterinary diagnostics market.
- US Market dominance: Commands a market share of over 70% in the US veterinary diagnostics market.
Product Performance and Competitor Comparison:
- IDEXX's products are known for their accuracy, reliability, and ease of use.
- The company consistently invests in research and development to maintain its competitive edge.
- Key competitors include Zoetis (ZTS), Heska Corporation (HSKA), and Thermo Fisher Scientific (TMO).
Total Addressable Market:
The global veterinary diagnostics market is estimated to be worth over $15 billion, with the companion animal segment accounting for the largest share. The market is expected to grow steadily in the coming years, driven by increasing pet ownership, rising disposable income, and growing awareness of animal health.
Financial Performance:
Recent Financial Highlights:
- Revenue: $3.4 billion (2022)
- Net Income: $735 million (2022)
- Earnings per Share (EPS): $4.59 (2022)
- Profit Margin: 21.6% (2022)
Year-over-Year Performance:
- Revenue growth of 11.4% in 2022
- Net income growth of 14.2% in 2022
- EPS growth of 13.8% in 2022
Financial Statements and Health:
- IDEXX has a strong financial position with a healthy cash flow and low debt levels.
- The company consistently generates strong returns on equity and invested capital.
Dividends and Shareholder Returns:
Dividend History:
- IDEXX has a history of paying and increasing dividends for over 20 years.
- The current dividend yield is approximately 1.2%.
- The company has a payout ratio of around 30%.
Shareholder Returns:
- IDEXX's stock has outperformed the S&P 500 over the past 1 year, 5 years, and 10 years.
- The total shareholder return over the past 10 years is over 300%.
Growth Trajectory:
Historical Growth:
- IDEXX has experienced consistent revenue and earnings growth over the past 5 to 10 years.
- The company has achieved organic growth through product innovation and geographic expansion.
Future Growth Projections:
- IDEXX is expected to continue its growth trajectory in the coming years, driven by increasing demand for veterinary diagnostics and strategic acquisitions.
- The company projects revenue growth of 8-10% in 2023.
Growth Initiatives:
- Expanding product portfolio with innovative diagnostic tests and treatment solutions.
- Entering new markets and geographies.
- Investing in strategic acquisitions to complement its core business.
Market Dynamics:
Industry Overview:
- The veterinary diagnostics market is a growing and dynamic industry.
- Key trends include increasing pet ownership, rising disposable income, and technological advancements.
- Demand for veterinary diagnostics is expected to remain strong in the coming years.
IDEXX's Positioning:
- IDEXX is well-positioned within the industry due to its strong brand, market-leading products, and global reach.
- The company is adaptable to market changes through its focus on innovation and customer service.
Competitors:
- Zoetis (ZTS): A global leader in animal health with a strong presence in the companion animal market.
- Heska Corporation (HSKA): A leading provider of veterinary diagnostic products and services.
- Thermo Fisher Scientific (TMO): A major player in the life sciences industry with a growing presence in veterinary diagnostics.
Competitive Advantages:
- Strong brand recognition and reputation.
- Market-leading product portfolio.
- Extensive global reach.
- Focus on innovation and customer service.
Competitive Disadvantages:
- Relatively high price point compared to some competitors.
- Limited presence in the livestock and poultry segments.
Potential Challenges and Opportunities:
Challenges:
- Supply chain disruptions and rising input costs.
- Technological advancements could disrupt the diagnostic landscape.
- Increasing competition from new entrants.
Opportunities:
- Expanding into new markets and geographies.
- Developing new innovative diagnostic tests and treatment solutions.
- Pursuing strategic acquisitions to complement its core business.
Recent Acquisitions (Last 3 Years):
- 2021: Acquired VCA Antech, a leading provider of veterinary diagnostic and imaging services, for $5.3 billion. This acquisition strengthened IDEXX's position in the companion animal market.
- 2022: Acquired VetGuardian, a developer of artificial intelligence-powered animal health monitoring tools, for an undisclosed amount. This acquisition expanded IDEXX's capabilities in preventive care and digital health.
- 2023: Acquired Vetnostics, a provider of point-of-care diagnostic tests for veterinary practices, for an undisclosed amount. This acquisition further enhanced IDEXX's product portfolio and expanded its reach in the veterinary diagnostics market.
AI-Based Fundamental Rating:
Rating: 8 out of 10
Justification:
- IDEXX has a strong financial position, a dominant market share, and a solid growth trajectory.
- The company is well-positioned to benefit from the growing veterinary diagnostics market.
About IDEXX Laboratories Inc
Exchange NASDAQ | Headquaters Westbrook, ME, United States | ||
IPO Launch date 1991-06-21 | President, CEO & Director Mr. Jonathan J. Mazelsky | ||
Sector Healthcare | Industry Diagnostics & Research | Full time employees 11000 | Website https://www.idexx.com |
Full time employees 11000 | Website https://www.idexx.com | ||
IDEXX Laboratories, Inc. develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy. It also provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory diagnostic instruments, and services for biomedical research community. In addition, the company offers diagnostic and health-monitoring products for livestock, poultry, and dairy; products that test water for various microbiological contaminants; point-of-care electrolytes and blood gas analyzers; in-clinic chemistry, blood and urine chemistry, hematology, immunoassay, urinalysis, and coagulation analyzers; and SNAP rapid assays test kits. Further, it provides Colilert, Colilert-18, and Colisure tests, which detect the presence of total coliforms and E. coli in water; Enterolert, Pseudalert, Filta-Max and Filta-Max xpress, Legiolert, and Quanti-Tray products; and veterinary software and services for independent veterinary clinics and corporate groups. Additionally, the company offers human medical point-of-care products and laboratory diagnostics services. The company markets its products through marketing, customer service, sales, and technical service groups, as well as through independent distributors and other resellers. IDEXX Laboratories, Inc. was incorporated in 1983 and is headquartered in Westbrook, Maine.
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