Upside case
Bull case
$937+66.7%
IDXX would need investors to value it at roughly 64x earnings — about 26x more generous than today's 38x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
IDEXX Laboratories, Inc. (IDXX) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
22
analysts
13 bullish · 1 bearish · 22 covering IDXX
Strong Buy
0
Buy
13
Hold
8
Sell
1
Strong Sell
0
Consensus Target
$748
+33.0% vs today
Scenario Range
$448 – $937
Model bear to bull value window
Coverage
22
Published analyst ratings
Valuation Context
38.3x
Forward P/E · Market cap $44.6B
IDXX price targets
Three scenarios for where IDXX stock could go
Current
~$562
Confidence
68 / 100
Updated
Jun 18, 2026
Where we are now
Current · $562
Bear
$448
Base
$711
Bull
$937
Market caseClosest to today
Base case
$711+26.5%
At 49x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$448-20.3%
If investor confidence fades or macro conditions deteriorate, a 8x multiple contraction could push IDXX down roughly 20% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
IDEXX Laboratories, Inc.
IDXX · NASDAQHealthcareMedical - Diagnostics & ResearchDecember year-end
IDEXX Laboratories is a leading provider of diagnostic and information technology solutions for veterinary practices worldwide. It generates revenue primarily from its Companion Animal Group segment — about 90% of sales — through diagnostic instruments, consumables, and reference laboratory services, with additional income from livestock/poultry diagnostics and water testing products. The company's competitive moat stems from its integrated ecosystem of hardware, software, and services that creates high switching costs for veterinary clinics.
Market Cap
$44.6B
Revenue TTM
$4.4B
Net Income TTM
$1.1B
Net Margin
24.6%
IDXX Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+6.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$3.63/$3.28
Revenue
$1.1B/$1.1B
Q4 2025
EPS
$3.40/$3.14
Revenue
$1.1B/$1.1B
Q1 2026
EPS
$3.08/$2.93
Revenue
$1.1B/$1.1B
Q2 2026
EPS
$3.47/$3.41
Revenue
$1.1B/$1.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $3.63/$3.28 | +10.7% | $1.1B/$1.1B | +4.4% |
| Q4 2025 | $3.40/$3.14 | +8.3% | $1.1B/$1.1B | +3.0% |
| Q1 2026 | $3.08/$2.93 | +5.1% | $1.1B/$1.1B | +1.7% |
| Q2 2026 | $3.47/$3.41 | +1.8% | $1.1B/$1.1B | +2.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$4.9B
+9.9% YoY
FY2
$5.2B
+7.3% YoY
EPS Outlook
FY1
$15.05
+10.9% YoY
FY2
$16.58
+10.1% YoY
Trailing FCF (TTM)$845M
FCF Margin: 19.0%
Next Earnings
August 3, 2026
Expected EPS
$3.95
Expected Revenue
$1.2B
IDXX beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
IDXX Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $4.3B
Product Mix
Latest annual revenue by segment or product family
Product
59.0%
+12.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
60.7%
+8.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Product is the largest disclosed segment at 59.0% of FY 2025 revenue, up 12.9% YoY.
UNITED STATES is the largest reported region at 60.7%, up 8.7% YoY.
IDXX Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $241 — implies -57.1% from today's price.
Premium to Fair Value
57.1%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
IDXX
43.0x
vs
S&P 500
24.4x
+76% premium
vs Healthcare Trailing P/E
IDXX
43.0x
vs
Healthcare
22.1x
+94% premium
vs IDXX 5Y Avg P/E
Today
43.0x
vs
5Y Average
54.6x
21% discount
Forward PE
38.3x
S&P 500
18.8x
+104%
Healthcare
18.3x
+110%
5Y Avg
—
—
Trailing PE
43.0x
S&P 500
24.4x
+76%
Healthcare
22.1x
+94%
5Y Avg
54.6x
-21%
PEG Ratio
3.01x
S&P 500
1.66x
+81%
Healthcare
1.59x
+89%
5Y Avg
—
—
EV/EBITDA
31.1x
S&P 500
15.2x
+104%
Healthcare
14.2x
+118%
5Y Avg
39.2x
-21%
Price/FCF
42.4x
S&P 500
20.7x
+105%
Healthcare
18.5x
+129%
5Y Avg
66.5x
-36%
Price/Sales
10.4x
S&P 500
3.1x
+236%
Healthcare
2.6x
+294%
5Y Avg
12.4x
-17%
Dividend Yield
—
S&P 500
1.91%
—
Healthcare
1.50%
—
5Y Avg
—
—
| Metric | IDXX | S&P 500 | Healthcare | 5Y Avg IDXX |
|---|---|---|---|---|
| Forward PE | 38.3x | 18.8x+104% | 18.3x+110% | — |
| Trailing PE | 43.0x | 24.4x+76% | 22.1x+94% | 54.6x-21% |
| PEG Ratio | 3.01x | 1.66x+81% | 1.59x+89% | — |
| EV/EBITDA | 31.1x | 15.2x+104% | 14.2x+118% | 39.2x-21% |
| Price/FCF | 42.4x | 20.7x+105% | 18.5x+129% | 66.5x-36% |
| Price/Sales | 10.4x | 3.1x+236% | 2.6x+294% | 12.4x-17% |
| Dividend Yield | — | 1.91% | 1.50% | — |
IDXX trades above S&P 500 benchmarks on 6 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolIDXX Financial Health
Verdict
Exceptional
IDXX generates $845M in free cash flow at a 19.0% margin — 42.5% ROIC signals a durable competitive advantage · returns 2.7% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$4.4B
Revenue Growth
TTM vs prior year
+13.1%
Gross Margin
Gross profit as a share of revenue
62.1%
Operating Margin
Operating income divided by revenue
31.6%
Net Margin
Net income divided by revenue
24.6%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$13.58
Free Cash Flow (TTM)
Cash generation after capex
$845M
FCF Margin
FCF as share of revenue — the primary cash quality signal
19.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
42.5%
ROA
Return on assets, trailing twelve months
32.6%
Cash & Equivalents
Liquid assets on the balance sheet
$180M
Net Debt
Total debt minus cash
$897M
Debt Serviceability
Net debt as a multiple of annual free cash flow
1.1× FCF
~1.1 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
70.9%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.7%
Dividend
—
Buyback
2.7%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$1.2B
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
79M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageIDXX Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
Market Sentiment
Bearish movement in IDXX's stock price could be influenced by broader market trends or sector-specific factors impacting investor sentiment towards healthcare and diagnostic companies.
Medium
Risk Disclosure
IDEXX Laboratories disclosed 24 risk factors in its most recent earnings report, indicating potential challenges across business, legal, and operational areas.
Lower
Valuation Concerns
Despite a consensus price target of $747.50, the stock's current trading price of $560.88 suggests potential upside but also reflects market skepticism.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why IDXX Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Leadership in veterinary diagnostics
IDEXX Laboratories is recognized for its dominant position in veterinary diagnostics, which is a key driver of its growth and market appeal.
Recurring revenue model
The company's recurring revenue model provides stable and predictable income streams, enhancing financial stability and investor confidence.
Strong margins
IDEXX Laboratories maintains strong margins, reflecting efficient operations and pricing power in its markets.
Innovation in AI-driven solutions
The company's focus on AI-driven and cloud-based solutions positions it at the forefront of technological advancements in veterinary diagnostics.
Growth in pet humanization
The trend of pet humanization is driving demand for advanced veterinary care, benefiting IDEXX's product and service offerings.
Expansion in companion animal market
IDEXX is capitalizing on growth opportunities in the companion animal market, further solidifying its industry leadership.
Livestock and water market opportunities
The company is exploring and expanding into livestock and water markets, diversifying its revenue sources and growth potential.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
IDXX Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$562.09
52W Range Position
21%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$506.91
+10.9% from the low
52-Week High
$769.98
-27.0% from the high
1 Month
+2.99%
3 Month
-2.60%
YTD
-16.1%
1 Year
+8.1%
3Y CAGR
+5.2%
5Y CAGR
-1.3%
10Y CAGR
+20.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
IDXX vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
38.3x
vs 14.9x median
+157% above peer median
Revenue Growth
+9.9%
vs +5.5% median
+80% above peer median
Net Margin
24.6%
vs 3.0% median
+716% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
IDX IDXX IDEXX Laboratories, Inc. | $44.6B | 38.3x | +9.9% | 24.6% | Buy | +33.0% |
ZTS ZTS Zoetis Inc. | $33.0B | 11.4x | +4.2% | 27.8% | Hold | +53.5% |
HSI HSIC Henry Schein, Inc. | $9.2B | 14.9x | +5.5% | 3.0% | Buy | +9.4% |
ELA ELAN Elanco Animal Health Incorporated | $12.1B | 22.9x | +4.6% | -4.9% | Buy | +17.3% |
ANI ANIP ANI Pharmaceuticals, Inc. | $1.8B | 8.5x | +11.6% | 9.7% | Buy | +56.0% |
NEO NEOG Neogen Corporation | $2.0B | 25.2x | +9.9% | -68.5% | Hold | +18.2% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
IDXX Dividend and Capital Return
IDXX returns 2.7% annually — null% through dividends and 2.7% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
2.7%
Dividend + buyback return per year
Buyback Yield
2.7%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$1.2B
Estimated Shares Retired
2M
Approx. Share Reduction
2.7%
Shares Outstanding
Current diluted share count from the screening snapshot
79M
At 2.7%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
FAQ
7 questionsIDXX Investor Questions
Common questions answered from live analyst data and company financials.
01Is IDEXX Laboratories, Inc. (IDXX) stock a buy or sell in 2026?
IDEXX Laboratories, Inc. (IDXX) is rated Buy by Wall Street analysts as of 2026. Of 22 analysts covering the stock, 13 rate it Buy or Strong Buy, 8 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $748, implying +33.0% from the current price of $562. The bear case scenario is $448 and the bull case is $937.
02What is the IDXX stock price target for 2026?
The Wall Street consensus price target for IDXX is $748 based on 22 analyst estimates. The high-end target is $800 (+42.3% from today), and the low-end target is $640 (+13.9%). The base case model target is $711.
03Is IDEXX Laboratories, Inc. (IDXX) stock overvalued in 2026?
IDXX trades at 38.3x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for IDEXX Laboratories, Inc. (IDXX) stock in 2026?
The primary risks for IDXX in 2026 are: (1) Market Sentiment — Bearish movement in IDXX's stock price could be influenced by broader market trends or sector-specific factors impacting investor sentiment towards healthcare and diagnostic companies. (2) Risk Disclosure — IDEXX Laboratories disclosed 24 risk factors in its most recent earnings report, indicating potential challenges across business, legal, and operational areas. (3) Valuation Concerns — Despite a consensus price target of $747. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is IDEXX Laboratories, Inc.'s revenue and earnings forecast?
Analyst consensus estimates IDXX will report consensus revenue of $4.9B (+9.9% year-over-year) and EPS of $15.05 (+10.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $5.2B in revenue.
06When does IDEXX Laboratories, Inc. (IDXX) report its next earnings?
IDEXX Laboratories, Inc. is expected to report its next earnings on approximately 2026-08-03. Consensus expects EPS of $3.95 and revenue of $1.2B. Over recent quarters, IDXX has beaten EPS estimates 100% of the time.
07How much free cash flow does IDEXX Laboratories, Inc. generate?
IDEXX Laboratories, Inc. (IDXX) generated $845M in free cash flow over the trailing twelve months — a free cash flow margin of 19.0%. IDXX returns capital to shareholders through and share repurchases ($1.2B TTM).