Mesa Laboratories, Inc. (MLAB) 10-Year Financial Performance & Capital Metrics

MLAB • • Industrial / General

TechnologyTech Hardware & EquipmentTest & Measurement EquipmentCalibration & Quality Control

AboutMesa Laboratories, Inc. develops, manufactures, and sells life sciences tools and quality control products and services in the United States, Europe, the Asia Pacific, and internationally. The company's Sterilization and Disinfection Control segment manufactures and sells biological, cleaning, and chemical indicators that are used to assess the effectiveness of sterilization and disinfection processes in the hospital, dental, medical device, and pharmaceutical industries. This segment also provides testing and laboratory services primarily to the dental industry. Its Biopharmaceutical Development segment develops, manufactures, and sells automated systems for protein analysis (immunoassays) and peptide synthesis solutions. This segment's solutions include protein analysis comprising analysis equipment, CDs, kits, and buffers; and peptide synthesizers that enables to automate chemically synthesized peptides that are used in the creation of peptide therapies, biomaterials, cosmetics, and general research. The company's Calibration Solutions segment designs, manufactures, and markets quality control and calibration products to measure or calibrate temperature, pressure, pH, humidity, and other such parameters used for health and safety purposes in the hospital, medical device manufacturing, pharmaceutical manufacturing, and various laboratory and healthcare environments. This segment's products include continuous monitoring systems, dialysate meters and consumables, data loggers, gas flow calibration and air sampling equipment, and torque testing systems. Its Clinical Genomics segment develops, manufactures, and sells genetic analysis tools that include MassARRAY system and consumables, including chips, panels, and chemical reagent solutions used by clinical labs to perform genomic clinical testing in several therapeutic areas, such as newborn screenings, pharmacogenetics, and oncology. The company was incorporated in 1982 and is headquartered in Lakewood, Colorado.Show more

Revenue $241M +11.5%
EBITDA $41M +117.0%
Net Income -$2M +99.2%
EPS (Diluted) -0.36 +99.2%
Gross Margin 62.61% +1.6%
EBITDA Margin 16.96% +115.2%
Operating Margin 6.78% +105.4%
Net Margin -0.82% +99.3%
ROE -1.29% +98.6%
ROIC 3.7% +108.1%
Debt/Equity 1.14 -28.6%
Interest Coverage 1.38 +102.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 17.6% free cash flow margin
✓Strong 5Y sales CAGR of 15.4%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.95%

5Y15.41%

3Y9.34%

TTM7.39%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM99.36%

EPS CAGR

10Y-

5Y-

3Y-

TTM99.3%

ROCE

10Y Avg-0.83%

5Y Avg-8.92%

3Y Avg-15.97%

Latest4.86%

Peer Comparison

Calibration & Quality Control

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MLABMesa Laboratories, Inc.	485.47M	87.91	-244.19	11.47%	-0.64%	-0.88%	8.72%	1.14

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	84.66M	93.67M	96.18M	103.14M	117.69M	133.94M	184.34M	219.08M	216.19M	240.98M
Revenue Growth %	0.19%	0.11%	0.03%	0.07%	0.14%	0.14%	0.38%	0.19%	-0.01%	0.11%
Cost of Goods Sold+	33.25M	40.43M	41.56M	42.22M	52.33M	46.92M	75.25M	85.39M	82.94M	90.11M
COGS % of Revenue	0.39%	0.43%	0.43%	0.41%	0.44%	0.35%	0.41%	0.39%	0.38%	0.37%
Gross Profit+	51.41M	53.24M	54.62M	60.92M	65.36M	87.01M	109.09M	133.69M	133.25M	150.87M
Gross Margin %	0.61%	0.57%	0.57%	0.59%	0.56%	0.65%	0.59%	0.61%	0.62%	0.63%
Gross Profit Growth %	0.18%	0.04%	0.03%	0.12%	0.07%	0.33%	0.25%	0.23%	-0%	0.13%
Operating Expenses+	35.09M	36.93M	38.62M	43.06M	57.44M	74.66M	104.39M	130.37M	405.32M	134.53M
OpEx % of Revenue	0.41%	0.39%	0.4%	0.42%	0.49%	0.56%	0.57%	0.6%	1.87%	0.56%
Selling, General & Admin	31.12M	32.77M	35.08M	39.55M	51.08M	64.27M	88.62M	109.88M	111.49M	115.02M
SG&A % of Revenue	0.37%	0.35%	0.36%	0.38%	0.43%	0.48%	0.48%	0.5%	0.52%	0.48%
Research & Development	3.97M	4.16M	3.54M	3.51M	6.36M	10.39M	15.77M	20.49M	19.3M	19.52M
R&D % of Revenue	0.05%	0.04%	0.04%	0.03%	0.05%	0.08%	0.09%	0.09%	0.09%	0.08%
Other Operating Expenses	0	0	0	0	0	0	0	0	274.53M	0
Operating Income+	16.32M	16.31M	2.18M	9.78M	7.92M	12.36M	4.7M	3.32M	-272.07M	16.34M
Operating Margin %	0.19%	0.17%	0.02%	0.09%	0.07%	0.09%	0.03%	0.02%	-1.26%	0.07%
Operating Income Growth %	0.03%	-0%	-0.87%	3.48%	-0.19%	0.56%	-0.62%	-0.29%	-82.95%	1.06%
EBITDA+	23.5M	25.05M	11.65M	19.25M	20.91M	30.02M	29.77M	36.45M	-240.5M	40.86M
EBITDA Margin %	0.28%	0.27%	0.12%	0.19%	0.18%	0.22%	0.16%	0.17%	-1.11%	0.17%
EBITDA Growth %	0.09%	0.07%	-0.53%	0.65%	0.09%	0.44%	-0.01%	0.22%	-7.6%	1.17%
D&A (Non-Cash Add-back)	7.17M	8.74M	9.47M	9.47M	12.99M	17.66M	25.07M	33.13M	31.57M	24.53M
EBIT	16.32M	16.31M	2.15M	8.62M	9.37M	10.33M	7.46M	4.38M	-269.95M	17.82M
Net Interest Income+	0	0	-1.85M	-1.72M	-4.54M	-7.92M	-3.88M	-4.77M	-5.7M	-11.86M
Interest Income	0	0	5K	1.72M	960K	107K	0	0	0	0
Interest Expense	0	0	1.85M	0	5.5M	8.02M	3.88M	4.77M	5.7M	11.86M
Other Income/Expense	-768K	-2.02M	-1.88M	-1.16M	-4.06M	-10.05M	-1.13M	-3.71M	-3.57M	-10.38M
Pretax Income+	15.55M	14.3M	301K	8.62M	3.86M	2.3M	3.57M	-389K	-275.65M	5.96M
Pretax Margin %	0.18%	0.15%	0%	0.08%	0.03%	0.02%	0.02%	-0%	-1.28%	0.02%
Income Tax+	4.39M	3.11M	3.26M	1.14M	2.08M	-971K	1.7M	-1.32M	-21.4M	7.93M
Effective Tax Rate %	0.72%	0.78%	-9.84%	0.87%	0.46%	1.42%	0.52%	-2.39%	0.92%	-0.33%
Net Income+	11.17M	11.18M	-2.96M	7.48M	1.78M	3.27M	1.87M	930K	-254.25M	-1.97M
Net Margin %	0.13%	0.12%	-0.03%	0.07%	0.02%	0.02%	0.01%	0%	-1.18%	-0.01%
Net Income Growth %	0.17%	0%	-1.26%	3.53%	-0.76%	0.84%	-0.43%	-0.5%	-274.38%	0.99%
Net Income (Continuing)	11.17M	11.18M	-2.96M	7.48M	1.78M	3.27M	1.87M	930K	-254.25M	-1.97M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.97	2.91	-0.79	1.86	0.31	0.64	0.35	0.17	-47.20	-0.36
EPS Growth %	0.13%	-0.02%	-1.27%	3.35%	-0.83%	1.06%	-0.45%	-0.51%	-278.65%	0.99%
EPS (Basic)	3.10	3.04	-0.79	1.95	0.32	0.66	0.36	0.17	-47.20	-0.36
Diluted Shares Outstanding	3.76M	3.84M	3.77M	4.03M	4.37M	5.12M	5.33M	5.36M	5.39M	5.43M
Basic Shares Outstanding	3.6M	3.68M	3.75M	3.84M	4.2M	4.97M	5.21M	5.32M	5.39M	5.43M
Dividend Payout Ratio	0.21%	0.21%	-	0.33%	1.53%	0.97%	1.78%	3.66%	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	37.19M	35.78M	31.99M	33.62M	122.79M	303.75M	124.32M	118.97M	109.35M	102.69M
Cash & Short-Term Investments	5.7M	5.82M	5.47M	10.19M	81.38M	263.87M	49.35M	32.91M	28.21M	27.32M
Cash Only	5.7M	5.82M	5.47M	10.19M	81.38M	263.87M	49.35M	32.91M	28.21M	27.32M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	15.31M	14.32M	14.3M	12.52M	21.13M	23.79M	41.22M	42.55M	39.05M	41.97M
Days Sales Outstanding	66.02	55.8	54.28	44.29	65.54	64.82	81.63	70.89	65.94	63.57
Inventory	14.02M	13.87M	9.23M	6.77M	14.23M	11.18M	24.61M	34.64M	32.67M	25.36M
Days Inventory Outstanding	153.89	125.26	81.04	58.55	99.26	86.95	119.36	148.08	143.8	102.75
Other Current Assets	1.22M	587K	2.21M	2.55M	1.91M	0	0	4.04M	3.34M	2.87M
Total Non-Current Assets+	123.56M	135.95M	132.11M	123.14M	297.41M	297.73M	583.05M	542.86M	337.44M	330.66M
Property, Plant & Equipment	16.63M	26M	23.59M	22.23M	22.07M	22M	28.62M	28.15M	41.44M	32.33M
Fixed Asset Turnover	5.09x	3.60x	4.08x	4.64x	5.33x	6.09x	6.44x	7.78x	5.22x	7.45x
Goodwill	66.14M	72.16M	65.54M	66.38M	141.54M	160.84M	291.17M	286.44M	180.1M	181.76M
Intangible Assets	40.8M	37.79M	42.85M	33.22M	119.87M	111.74M	250.12M	216.81M	113.75M	96.88M
Long-Term Investments	-108.15M	-113.5M	-108.52M	-246K	-272.87M	0	0	0	0	0
Other Non-Current Assets	106.93M	109.95M	108.52M	246K	275.35M	2.53M	11.83M	10.37M	867K	18.32M
Total Assets+	160.75M	171.73M	164.1M	156.77M	420.21M	601.48M	707.37M	661.83M	446.8M	433.35M
Asset Turnover	0.53x	0.55x	0.59x	0.66x	0.28x	0.22x	0.26x	0.33x	0.48x	0.56x
Asset Growth %	0.37%	0.07%	-0.04%	-0.04%	1.68%	0.43%	0.18%	-0.06%	-0.32%	-0.03%
Total Current Liabilities+	23.97M	16.57M	17.29M	23.66M	26.01M	32.58M	48.05M	43.36M	44.31M	163.96M
Accounts Payable	2.82M	2.17M	2.38M	2.9M	3.41M	4.47M	7.9M	6.13M	6.04M	5.75M
Days Payables Outstanding	30.99	19.57	20.9	25.05	23.77	34.79	38.31	26.22	26.59	23.28
Short-Term Debt	3M	1.13M	1.63M	2.13M	0	0	0	0	0	101.05M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.84M	4.29M	4.07M	7.35M	12.74M	0	0	0	15.49M	0
Current Ratio	1.55x	2.16x	1.85x	1.42x	4.72x	9.32x	2.59x	2.74x	2.47x	0.63x
Quick Ratio	0.97x	1.32x	1.32x	1.13x	4.17x	8.98x	2.07x	1.94x	1.73x	0.47x
Cash Conversion Cycle	188.92	161.48	114.42	77.79	141.03	116.98	162.68	192.75	183.15	143.04
Total Non-Current Liabilities+	52.1M	57.34M	47.45M	21.8M	174.19M	162.66M	265.51M	224.99M	257.09M	109.56M
Long-Term Debt	42.25M	53.67M	44.63M	20.61M	140.28M	145.68M	218.37M	183.27M	221.7M	76.9M
Capital Lease Obligations	0	0	0	0	0	0	0	0	6.61M	0
Deferred Tax Liabilities	5.42M	3.55M	2.62M	1.08M	32.55M	16.27M	39.22M	34.03M	19.78M	20.18M
Other Non-Current Liabilities	4.43M	116K	194K	105K	1.36M	715K	7.92M	7.69M	9M	12.47M
Total Liabilities	76.07M	73.91M	64.74M	45.46M	200.19M	195.25M	313.57M	268.35M	301.4M	273.52M
Total Debt+	45.25M	54.8M	46.26M	22.74M	141.37M	146.7M	221.13M	186.14M	231.3M	181.47M
Net Debt	39.55M	48.98M	40.79M	12.55M	59.99M	-117.17M	171.79M	153.23M	203.08M	154.15M
Debt / Equity	0.53x	0.56x	0.47x	0.20x	0.64x	0.36x	0.56x	0.47x	1.59x	1.14x
Debt / EBITDA	1.93x	2.19x	3.97x	1.18x	6.76x	4.89x	7.43x	5.11x	-	4.44x
Net Debt / EBITDA	1.68x	1.96x	3.50x	0.65x	2.87x	-3.90x	5.77x	4.20x	-	3.77x
Interest Coverage	-	-	1.18x	-	1.44x	1.54x	1.21x	0.70x	-47.76x	1.38x
Total Equity+	84.68M	97.82M	99.36M	111.31M	220.01M	406.23M	393.8M	393.48M	145.39M	159.83M
Equity Growth %	0.15%	0.16%	0.02%	0.12%	0.98%	0.85%	-0.03%	-0%	-0.63%	0.1%
Book Value per Share	22.54	25.45	26.36	27.60	50.33	79.28	73.81	73.40	26.99	29.44
Total Shareholders' Equity	84.68M	97.82M	99.36M	111.31M	220.01M	406.23M	393.8M	393.48M	145.39M	159.83M
Common Stock	21M	25.93M	30.52M	39.82M	158.02M	317.65M	313.46M	332.08M	343.64M	358.54M
Retained Earnings	64.83M	73.66M	68.28M	73.3M	71.93M	72.46M	76.67M	74.2M	-183.49M	-188.94M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.15M	-1.76M	564K	-1.81M	-9.94M	16.12M	3.67M	-12.79M	-14.76M	-9.78M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	16.9M	7.75M	24.81M	30.55M	26.56M	37.07M	39.22M	27.98M	44.13M	46.81M
Operating CF Margin %	0.2%	0.08%	0.26%	0.3%	0.23%	0.28%	0.21%	0.13%	0.2%	0.19%
Operating CF Growth %	0.56%	-0.54%	2.2%	0.23%	-0.13%	0.4%	0.06%	-0.29%	0.58%	0.06%
Net Income	11.17M	11.18M	-2.96M	7.48M	1.35M	3.27M	1.87M	930K	-254.25M	-1.97M
Depreciation & Amortization	7.17M	8.74M	9.47M	9.43M	12.99M	17.66M	25.07M	33.13M	31.57M	24.53M
Stock-Based Compensation	1.33M	1.41M	1.67M	4.21M	5.53M	9.27M	11.39M	12.54M	11.94M	13.14M
Deferred Taxes	-807K	-630K	-2.7M	-2.47M	-1.97M	-3.5M	128K	-3.49M	-28.42M	-72K
Other Non-Cash Items	53K	93K	16.1M	4.01M	11.8M	5.12M	7.96M	1.99M	277.32M	4.28M
Working Capital Changes	-2.01M	-13.04M	3.24M	7.89M	-3.14M	5.25M	-7.19M	-17.11M	5.97M	6.9M
Change in Receivables	-1.96M	994K	680K	1.59M	-1.67M	-647K	-6.75M	-2.12M	4.94M	-2.92M
Change in Inventory	-1.2M	295K	2.29M	2.57M	414K	929K	-1.04M	-10.18M	2.56M	1.15M
Change in Payables	-150K	-655K	212K	1.09M	-61K	967K	1.37M	-1.54M	-97K	-388K
Cash from Investing+	-31.84M	-18.41M	-17.18M	-3.88M	-185.59M	-1.99M	-305.23M	-9.49M	-81.31M	-4.5M
Capital Expenditures	-7.73M	-11.61M	-2.8M	-1.26M	-1.5M	-1.99M	-4.43M	-4.54M	-2.57M	-4.25M
CapEx % of Revenue	0.09%	0.12%	0.03%	0.01%	0.01%	0.01%	0.02%	0.02%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-31.84M	-6.8M	1.13M	2.22M	15K	0	0	0	0	-250K
Cash from Financing+	18.62M	10.71M	-8.12M	-21.67M	231.28M	146.23M	52.58M	-33.33M	32.84M	-44.51M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-2.3M	-2.35M	-2.41M	-2.46M	-2.72M	-3.17M	-3.34M	-3.41M	-3.45M	-3.47M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.92M	0	2.92M	-680K	-5.44M	3.46M	6.92M	6.08M	-1.22M	1.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	9.17M	-3.85M	22.02M	29.29M	25.06M	35.08M	34.79M	23.44M	41.57M	42.31M
FCF Margin %	0.11%	-0.04%	0.23%	0.28%	0.21%	0.26%	0.19%	0.11%	0.19%	0.18%
FCF Growth %	0.15%	-1.42%	6.71%	0.33%	-0.14%	0.4%	-0.01%	-0.33%	0.77%	0.02%
FCF per Share	2.44	-1.00	5.84	7.26	5.73	6.85	6.52	4.37	7.72	7.79
FCF Conversion (FCF/Net Income)	1.51x	0.69x	-8.38x	4.08x	14.94x	11.32x	20.96x	30.09x	-0.17x	-23.71x
Interest Paid	848K	1.38M	1.96M	1.64M	1.63M	2.37M	2.76M	3.48M	4.65M	11.08M
Taxes Paid	3.95M	5.61M	-4.55M	5.87M	2.63M	1.37M	3.05M	1.36M	4.59M	5.73M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	14.12%	12.26%	-3%	7.1%	1.07%	1.05%	0.47%	0.24%	-94.36%	-1.29%
Return on Invested Capital (ROIC)	11.03%	9.03%	1.14%	5.56%	2.94%	3.26%	0.83%	0.45%	-45.59%	3.7%
Gross Margin	60.73%	56.84%	56.79%	59.06%	55.54%	64.97%	59.18%	61.02%	61.64%	62.61%
Net Margin	13.19%	11.94%	-3.08%	7.26%	1.51%	2.44%	1.01%	0.42%	-117.6%	-0.82%
Debt / Equity	0.53x	0.56x	0.47x	0.20x	0.64x	0.36x	0.56x	0.47x	1.59x	1.14x
Interest Coverage	-	-	1.18x	-	1.44x	1.54x	1.21x	0.70x	-47.76x	1.38x
FCF Conversion	1.51x	0.69x	-8.38x	4.08x	14.94x	11.32x	20.96x	30.09x	-0.17x	-23.71x
Revenue Growth	18.69%	10.64%	2.68%	7.23%	14.11%	13.81%	37.63%	18.85%	-1.32%	11.47%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Product	-	-	72.17M	81.8M	93.4M	107.03M	149.42M	180.52M	-	198.4M
Product Growth	-	-	-	13.34%	14.18%	14.59%	39.61%	20.81%	-	-
Service	-	-	24.01M	-	-	-	-	38.56M	-	42.58M
Service Growth	-	-	-	-	-	-	-	-	-	-
Sterilization and Disinfection Control	-	-	-	-	-	-	-	-	75.12M	-
Sterilization and Disinfection Control Growth	-	-	-	-	-	-	-	-	-	-
Clinical Genomics	-	-	-	-	-	-	-	-	52.59M	-
Clinical Genomics Growth	-	-	-	-	-	-	-	-	-	-
Calibration Solutions	-	-	-	-	-	-	-	-	47.76M	-
Calibration Solutions Growth	-	-	-	-	-	-	-	-	-	-
Biopharmaceutical Development	-	-	-	-	-	-	-	-	40.71M	-
Biopharmaceutical Development Growth	-	-	-	-	-	-	-	-	-	-
Biological Indicators	33.65M	38.63M	-	-	-	-	-	-	-	-
Biological Indicators Growth	-	14.82%	-	-	-	-	-	-	-	-
Instruments	35.69M	34.41M	-	-	-	-	-	-	-	-
Instruments Growth	-	-3.61%	-	-	-	-	-	-	-	-
Cold Chain Monitoring	-	12.58M	-	-	-	-	-	-	-	-
Cold Chain Monitoring Growth	-	-	-	-	-	-	-	-	-	-
Cold Chain Packaging	-	8.04M	-	-	-	-	-	-	-	-
Cold Chain Packaging Growth	-	-	-	-	-	-	-	-	-	-
Continuous Monitoring	10.79M	-	-	-	-	-	-	-	-	-
Continuous Monitoring Growth	-	-	-	-	-	-	-	-	-	-
Cold Chain	4.53M	-	-	-	-	-	-	-	-	-
Cold Chain Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	53.09M	52.99M	57M	64.83M	66.34M	71.39M	99.07M	117.28M	106.39M	116.61M
UNITED STATES Growth	-	-0.20%	7.57%	13.74%	2.34%	7.60%	38.78%	18.38%	-9.28%	9.61%
Other	-	-	-	-	-	-	-	76M	84.86M	99.05M
Other Growth	-	-	-	-	-	-	-	-	11.65%	16.72%
CHINA	-	-	-	-	-	-	-	25.8M	24.93M	25.31M
CHINA Growth	-	-	-	-	-	-	-	-	-3.35%	1.52%
Non-US	-	-	39.18M	38.31M	51.34M	62.55M	85.27M	-	-	-
Non-US Growth	-	-	-	-2.23%	34.03%	21.83%	36.32%	-	-	-
Foreign	31.57M	40.68M	-	-	-	-	-	-	-	-
Foreign Growth	-	28.86%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Mesa Laboratories, Inc. (MLAB) reported $245.3M in revenue for fiscal year 2025. This represents a 519% increase from $39.6M in 2012.

Mesa Laboratories, Inc. (MLAB) grew revenue by 11.5% over the past year. This is steady growth.

Mesa Laboratories, Inc. (MLAB) reported a net loss of $1.6M for fiscal year 2025.

Dividend & Returns

Yes, Mesa Laboratories, Inc. (MLAB) pays a dividend with a yield of 0.73%. This makes it attractive for income-focused investors.

Mesa Laboratories, Inc. (MLAB) has a return on equity (ROE) of -1.3%. Negative ROE indicates the company is unprofitable.

Mesa Laboratories, Inc. (MLAB) generated $37.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Mesa Laboratories, Inc. (MLAB) 10-Year Financial Performance & Capital Metrics

MLAB • • Industrial / General

TechnologyTech Hardware & EquipmentTest & Measurement EquipmentCalibration & Quality Control

Revenue $241M +11.5%
EBITDA $41M +117.0%
Net Income -$2M +99.2%
EPS (Diluted) -0.36 +99.2%
Gross Margin 62.61% +1.6%
EBITDA Margin 16.96% +115.2%
Operating Margin 6.78% +105.4%
Net Margin -0.82% +99.3%
ROE -1.29% +98.6%
ROIC 3.7% +108.1%
Debt/Equity 1.14 -28.6%
Interest Coverage 1.38 +102.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 17.6% free cash flow margin
✓Strong 5Y sales CAGR of 15.4%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y12.95%

5Y15.41%

3Y9.34%

TTM7.39%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM99.36%

EPS CAGR

10Y-

5Y-

3Y-

TTM99.3%

ROCE

10Y Avg-0.83%

5Y Avg-8.92%

3Y Avg-15.97%

Latest4.86%

Peer Comparison

Calibration & Quality Control

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MLABMesa Laboratories, Inc.	485.47M	87.91	-244.19	11.47%	-0.64%	-0.88%	8.72%	1.14

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	84.66M	93.67M	96.18M	103.14M	117.69M	133.94M	184.34M	219.08M	216.19M	240.98M
Revenue Growth %	0.19%	0.11%	0.03%	0.07%	0.14%	0.14%	0.38%	0.19%	-0.01%	0.11%
Cost of Goods Sold+	33.25M	40.43M	41.56M	42.22M	52.33M	46.92M	75.25M	85.39M	82.94M	90.11M
COGS % of Revenue	0.39%	0.43%	0.43%	0.41%	0.44%	0.35%	0.41%	0.39%	0.38%	0.37%
Gross Profit+	51.41M	53.24M	54.62M	60.92M	65.36M	87.01M	109.09M	133.69M	133.25M	150.87M
Gross Margin %	0.61%	0.57%	0.57%	0.59%	0.56%	0.65%	0.59%	0.61%	0.62%	0.63%
Gross Profit Growth %	0.18%	0.04%	0.03%	0.12%	0.07%	0.33%	0.25%	0.23%	-0%	0.13%
Operating Expenses+	35.09M	36.93M	38.62M	43.06M	57.44M	74.66M	104.39M	130.37M	405.32M	134.53M
OpEx % of Revenue	0.41%	0.39%	0.4%	0.42%	0.49%	0.56%	0.57%	0.6%	1.87%	0.56%
Selling, General & Admin	31.12M	32.77M	35.08M	39.55M	51.08M	64.27M	88.62M	109.88M	111.49M	115.02M
SG&A % of Revenue	0.37%	0.35%	0.36%	0.38%	0.43%	0.48%	0.48%	0.5%	0.52%	0.48%
Research & Development	3.97M	4.16M	3.54M	3.51M	6.36M	10.39M	15.77M	20.49M	19.3M	19.52M
R&D % of Revenue	0.05%	0.04%	0.04%	0.03%	0.05%	0.08%	0.09%	0.09%	0.09%	0.08%
Other Operating Expenses	0	0	0	0	0	0	0	0	274.53M	0
Operating Income+	16.32M	16.31M	2.18M	9.78M	7.92M	12.36M	4.7M	3.32M	-272.07M	16.34M
Operating Margin %	0.19%	0.17%	0.02%	0.09%	0.07%	0.09%	0.03%	0.02%	-1.26%	0.07%
Operating Income Growth %	0.03%	-0%	-0.87%	3.48%	-0.19%	0.56%	-0.62%	-0.29%	-82.95%	1.06%
EBITDA+	23.5M	25.05M	11.65M	19.25M	20.91M	30.02M	29.77M	36.45M	-240.5M	40.86M
EBITDA Margin %	0.28%	0.27%	0.12%	0.19%	0.18%	0.22%	0.16%	0.17%	-1.11%	0.17%
EBITDA Growth %	0.09%	0.07%	-0.53%	0.65%	0.09%	0.44%	-0.01%	0.22%	-7.6%	1.17%
D&A (Non-Cash Add-back)	7.17M	8.74M	9.47M	9.47M	12.99M	17.66M	25.07M	33.13M	31.57M	24.53M
EBIT	16.32M	16.31M	2.15M	8.62M	9.37M	10.33M	7.46M	4.38M	-269.95M	17.82M
Net Interest Income+	0	0	-1.85M	-1.72M	-4.54M	-7.92M	-3.88M	-4.77M	-5.7M	-11.86M
Interest Income	0	0	5K	1.72M	960K	107K	0	0	0	0
Interest Expense	0	0	1.85M	0	5.5M	8.02M	3.88M	4.77M	5.7M	11.86M
Other Income/Expense	-768K	-2.02M	-1.88M	-1.16M	-4.06M	-10.05M	-1.13M	-3.71M	-3.57M	-10.38M
Pretax Income+	15.55M	14.3M	301K	8.62M	3.86M	2.3M	3.57M	-389K	-275.65M	5.96M
Pretax Margin %	0.18%	0.15%	0%	0.08%	0.03%	0.02%	0.02%	-0%	-1.28%	0.02%
Income Tax+	4.39M	3.11M	3.26M	1.14M	2.08M	-971K	1.7M	-1.32M	-21.4M	7.93M
Effective Tax Rate %	0.72%	0.78%	-9.84%	0.87%	0.46%	1.42%	0.52%	-2.39%	0.92%	-0.33%
Net Income+	11.17M	11.18M	-2.96M	7.48M	1.78M	3.27M	1.87M	930K	-254.25M	-1.97M
Net Margin %	0.13%	0.12%	-0.03%	0.07%	0.02%	0.02%	0.01%	0%	-1.18%	-0.01%
Net Income Growth %	0.17%	0%	-1.26%	3.53%	-0.76%	0.84%	-0.43%	-0.5%	-274.38%	0.99%
Net Income (Continuing)	11.17M	11.18M	-2.96M	7.48M	1.78M	3.27M	1.87M	930K	-254.25M	-1.97M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	2.97	2.91	-0.79	1.86	0.31	0.64	0.35	0.17	-47.20	-0.36
EPS Growth %	0.13%	-0.02%	-1.27%	3.35%	-0.83%	1.06%	-0.45%	-0.51%	-278.65%	0.99%
EPS (Basic)	3.10	3.04	-0.79	1.95	0.32	0.66	0.36	0.17	-47.20	-0.36
Diluted Shares Outstanding	3.76M	3.84M	3.77M	4.03M	4.37M	5.12M	5.33M	5.36M	5.39M	5.43M
Basic Shares Outstanding	3.6M	3.68M	3.75M	3.84M	4.2M	4.97M	5.21M	5.32M	5.39M	5.43M
Dividend Payout Ratio	0.21%	0.21%	-	0.33%	1.53%	0.97%	1.78%	3.66%	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	37.19M	35.78M	31.99M	33.62M	122.79M	303.75M	124.32M	118.97M	109.35M	102.69M
Cash & Short-Term Investments	5.7M	5.82M	5.47M	10.19M	81.38M	263.87M	49.35M	32.91M	28.21M	27.32M
Cash Only	5.7M	5.82M	5.47M	10.19M	81.38M	263.87M	49.35M	32.91M	28.21M	27.32M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	15.31M	14.32M	14.3M	12.52M	21.13M	23.79M	41.22M	42.55M	39.05M	41.97M
Days Sales Outstanding	66.02	55.8	54.28	44.29	65.54	64.82	81.63	70.89	65.94	63.57
Inventory	14.02M	13.87M	9.23M	6.77M	14.23M	11.18M	24.61M	34.64M	32.67M	25.36M
Days Inventory Outstanding	153.89	125.26	81.04	58.55	99.26	86.95	119.36	148.08	143.8	102.75
Other Current Assets	1.22M	587K	2.21M	2.55M	1.91M	0	0	4.04M	3.34M	2.87M
Total Non-Current Assets+	123.56M	135.95M	132.11M	123.14M	297.41M	297.73M	583.05M	542.86M	337.44M	330.66M
Property, Plant & Equipment	16.63M	26M	23.59M	22.23M	22.07M	22M	28.62M	28.15M	41.44M	32.33M
Fixed Asset Turnover	5.09x	3.60x	4.08x	4.64x	5.33x	6.09x	6.44x	7.78x	5.22x	7.45x
Goodwill	66.14M	72.16M	65.54M	66.38M	141.54M	160.84M	291.17M	286.44M	180.1M	181.76M
Intangible Assets	40.8M	37.79M	42.85M	33.22M	119.87M	111.74M	250.12M	216.81M	113.75M	96.88M
Long-Term Investments	-108.15M	-113.5M	-108.52M	-246K	-272.87M	0	0	0	0	0
Other Non-Current Assets	106.93M	109.95M	108.52M	246K	275.35M	2.53M	11.83M	10.37M	867K	18.32M
Total Assets+	160.75M	171.73M	164.1M	156.77M	420.21M	601.48M	707.37M	661.83M	446.8M	433.35M
Asset Turnover	0.53x	0.55x	0.59x	0.66x	0.28x	0.22x	0.26x	0.33x	0.48x	0.56x
Asset Growth %	0.37%	0.07%	-0.04%	-0.04%	1.68%	0.43%	0.18%	-0.06%	-0.32%	-0.03%
Total Current Liabilities+	23.97M	16.57M	17.29M	23.66M	26.01M	32.58M	48.05M	43.36M	44.31M	163.96M
Accounts Payable	2.82M	2.17M	2.38M	2.9M	3.41M	4.47M	7.9M	6.13M	6.04M	5.75M
Days Payables Outstanding	30.99	19.57	20.9	25.05	23.77	34.79	38.31	26.22	26.59	23.28
Short-Term Debt	3M	1.13M	1.63M	2.13M	0	0	0	0	0	101.05M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.84M	4.29M	4.07M	7.35M	12.74M	0	0	0	15.49M	0
Current Ratio	1.55x	2.16x	1.85x	1.42x	4.72x	9.32x	2.59x	2.74x	2.47x	0.63x
Quick Ratio	0.97x	1.32x	1.32x	1.13x	4.17x	8.98x	2.07x	1.94x	1.73x	0.47x
Cash Conversion Cycle	188.92	161.48	114.42	77.79	141.03	116.98	162.68	192.75	183.15	143.04
Total Non-Current Liabilities+	52.1M	57.34M	47.45M	21.8M	174.19M	162.66M	265.51M	224.99M	257.09M	109.56M
Long-Term Debt	42.25M	53.67M	44.63M	20.61M	140.28M	145.68M	218.37M	183.27M	221.7M	76.9M
Capital Lease Obligations	0	0	0	0	0	0	0	0	6.61M	0
Deferred Tax Liabilities	5.42M	3.55M	2.62M	1.08M	32.55M	16.27M	39.22M	34.03M	19.78M	20.18M
Other Non-Current Liabilities	4.43M	116K	194K	105K	1.36M	715K	7.92M	7.69M	9M	12.47M
Total Liabilities	76.07M	73.91M	64.74M	45.46M	200.19M	195.25M	313.57M	268.35M	301.4M	273.52M
Total Debt+	45.25M	54.8M	46.26M	22.74M	141.37M	146.7M	221.13M	186.14M	231.3M	181.47M
Net Debt	39.55M	48.98M	40.79M	12.55M	59.99M	-117.17M	171.79M	153.23M	203.08M	154.15M
Debt / Equity	0.53x	0.56x	0.47x	0.20x	0.64x	0.36x	0.56x	0.47x	1.59x	1.14x
Debt / EBITDA	1.93x	2.19x	3.97x	1.18x	6.76x	4.89x	7.43x	5.11x	-	4.44x
Net Debt / EBITDA	1.68x	1.96x	3.50x	0.65x	2.87x	-3.90x	5.77x	4.20x	-	3.77x
Interest Coverage	-	-	1.18x	-	1.44x	1.54x	1.21x	0.70x	-47.76x	1.38x
Total Equity+	84.68M	97.82M	99.36M	111.31M	220.01M	406.23M	393.8M	393.48M	145.39M	159.83M
Equity Growth %	0.15%	0.16%	0.02%	0.12%	0.98%	0.85%	-0.03%	-0%	-0.63%	0.1%
Book Value per Share	22.54	25.45	26.36	27.60	50.33	79.28	73.81	73.40	26.99	29.44
Total Shareholders' Equity	84.68M	97.82M	99.36M	111.31M	220.01M	406.23M	393.8M	393.48M	145.39M	159.83M
Common Stock	21M	25.93M	30.52M	39.82M	158.02M	317.65M	313.46M	332.08M	343.64M	358.54M
Retained Earnings	64.83M	73.66M	68.28M	73.3M	71.93M	72.46M	76.67M	74.2M	-183.49M	-188.94M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.15M	-1.76M	564K	-1.81M	-9.94M	16.12M	3.67M	-12.79M	-14.76M	-9.78M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	16.9M	7.75M	24.81M	30.55M	26.56M	37.07M	39.22M	27.98M	44.13M	46.81M
Operating CF Margin %	0.2%	0.08%	0.26%	0.3%	0.23%	0.28%	0.21%	0.13%	0.2%	0.19%
Operating CF Growth %	0.56%	-0.54%	2.2%	0.23%	-0.13%	0.4%	0.06%	-0.29%	0.58%	0.06%
Net Income	11.17M	11.18M	-2.96M	7.48M	1.35M	3.27M	1.87M	930K	-254.25M	-1.97M
Depreciation & Amortization	7.17M	8.74M	9.47M	9.43M	12.99M	17.66M	25.07M	33.13M	31.57M	24.53M
Stock-Based Compensation	1.33M	1.41M	1.67M	4.21M	5.53M	9.27M	11.39M	12.54M	11.94M	13.14M
Deferred Taxes	-807K	-630K	-2.7M	-2.47M	-1.97M	-3.5M	128K	-3.49M	-28.42M	-72K
Other Non-Cash Items	53K	93K	16.1M	4.01M	11.8M	5.12M	7.96M	1.99M	277.32M	4.28M
Working Capital Changes	-2.01M	-13.04M	3.24M	7.89M	-3.14M	5.25M	-7.19M	-17.11M	5.97M	6.9M
Change in Receivables	-1.96M	994K	680K	1.59M	-1.67M	-647K	-6.75M	-2.12M	4.94M	-2.92M
Change in Inventory	-1.2M	295K	2.29M	2.57M	414K	929K	-1.04M	-10.18M	2.56M	1.15M
Change in Payables	-150K	-655K	212K	1.09M	-61K	967K	1.37M	-1.54M	-97K	-388K
Cash from Investing+	-31.84M	-18.41M	-17.18M	-3.88M	-185.59M	-1.99M	-305.23M	-9.49M	-81.31M	-4.5M
Capital Expenditures	-7.73M	-11.61M	-2.8M	-1.26M	-1.5M	-1.99M	-4.43M	-4.54M	-2.57M	-4.25M
CapEx % of Revenue	0.09%	0.12%	0.03%	0.01%	0.01%	0.01%	0.02%	0.02%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-31.84M	-6.8M	1.13M	2.22M	15K	0	0	0	0	-250K
Cash from Financing+	18.62M	10.71M	-8.12M	-21.67M	231.28M	146.23M	52.58M	-33.33M	32.84M	-44.51M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-2.3M	-2.35M	-2.41M	-2.46M	-2.72M	-3.17M	-3.34M	-3.41M	-3.45M	-3.47M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.92M	0	2.92M	-680K	-5.44M	3.46M	6.92M	6.08M	-1.22M	1.3M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	9.17M	-3.85M	22.02M	29.29M	25.06M	35.08M	34.79M	23.44M	41.57M	42.31M
FCF Margin %	0.11%	-0.04%	0.23%	0.28%	0.21%	0.26%	0.19%	0.11%	0.19%	0.18%
FCF Growth %	0.15%	-1.42%	6.71%	0.33%	-0.14%	0.4%	-0.01%	-0.33%	0.77%	0.02%
FCF per Share	2.44	-1.00	5.84	7.26	5.73	6.85	6.52	4.37	7.72	7.79
FCF Conversion (FCF/Net Income)	1.51x	0.69x	-8.38x	4.08x	14.94x	11.32x	20.96x	30.09x	-0.17x	-23.71x
Interest Paid	848K	1.38M	1.96M	1.64M	1.63M	2.37M	2.76M	3.48M	4.65M	11.08M
Taxes Paid	3.95M	5.61M	-4.55M	5.87M	2.63M	1.37M	3.05M	1.36M	4.59M	5.73M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	14.12%	12.26%	-3%	7.1%	1.07%	1.05%	0.47%	0.24%	-94.36%	-1.29%
Return on Invested Capital (ROIC)	11.03%	9.03%	1.14%	5.56%	2.94%	3.26%	0.83%	0.45%	-45.59%	3.7%
Gross Margin	60.73%	56.84%	56.79%	59.06%	55.54%	64.97%	59.18%	61.02%	61.64%	62.61%
Net Margin	13.19%	11.94%	-3.08%	7.26%	1.51%	2.44%	1.01%	0.42%	-117.6%	-0.82%
Debt / Equity	0.53x	0.56x	0.47x	0.20x	0.64x	0.36x	0.56x	0.47x	1.59x	1.14x
Interest Coverage	-	-	1.18x	-	1.44x	1.54x	1.21x	0.70x	-47.76x	1.38x
FCF Conversion	1.51x	0.69x	-8.38x	4.08x	14.94x	11.32x	20.96x	30.09x	-0.17x	-23.71x
Revenue Growth	18.69%	10.64%	2.68%	7.23%	14.11%	13.81%	37.63%	18.85%	-1.32%	11.47%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Product	-	-	72.17M	81.8M	93.4M	107.03M	149.42M	180.52M	-	198.4M
Product Growth	-	-	-	13.34%	14.18%	14.59%	39.61%	20.81%	-	-
Service	-	-	24.01M	-	-	-	-	38.56M	-	42.58M
Service Growth	-	-	-	-	-	-	-	-	-	-
Sterilization and Disinfection Control	-	-	-	-	-	-	-	-	75.12M	-
Sterilization and Disinfection Control Growth	-	-	-	-	-	-	-	-	-	-
Clinical Genomics	-	-	-	-	-	-	-	-	52.59M	-
Clinical Genomics Growth	-	-	-	-	-	-	-	-	-	-
Calibration Solutions	-	-	-	-	-	-	-	-	47.76M	-
Calibration Solutions Growth	-	-	-	-	-	-	-	-	-	-
Biopharmaceutical Development	-	-	-	-	-	-	-	-	40.71M	-
Biopharmaceutical Development Growth	-	-	-	-	-	-	-	-	-	-
Biological Indicators	33.65M	38.63M	-	-	-	-	-	-	-	-
Biological Indicators Growth	-	14.82%	-	-	-	-	-	-	-	-
Instruments	35.69M	34.41M	-	-	-	-	-	-	-	-
Instruments Growth	-	-3.61%	-	-	-	-	-	-	-	-
Cold Chain Monitoring	-	12.58M	-	-	-	-	-	-	-	-
Cold Chain Monitoring Growth	-	-	-	-	-	-	-	-	-	-
Cold Chain Packaging	-	8.04M	-	-	-	-	-	-	-	-
Cold Chain Packaging Growth	-	-	-	-	-	-	-	-	-	-
Continuous Monitoring	10.79M	-	-	-	-	-	-	-	-	-
Continuous Monitoring Growth	-	-	-	-	-	-	-	-	-	-
Cold Chain	4.53M	-	-	-	-	-	-	-	-	-
Cold Chain Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
UNITED STATES	53.09M	52.99M	57M	64.83M	66.34M	71.39M	99.07M	117.28M	106.39M	116.61M
UNITED STATES Growth	-	-0.20%	7.57%	13.74%	2.34%	7.60%	38.78%	18.38%	-9.28%	9.61%
Other	-	-	-	-	-	-	-	76M	84.86M	99.05M
Other Growth	-	-	-	-	-	-	-	-	11.65%	16.72%
CHINA	-	-	-	-	-	-	-	25.8M	24.93M	25.31M
CHINA Growth	-	-	-	-	-	-	-	-	-3.35%	1.52%
Non-US	-	-	39.18M	38.31M	51.34M	62.55M	85.27M	-	-	-
Non-US Growth	-	-	-	-2.23%	34.03%	21.83%	36.32%	-	-	-
Foreign	31.57M	40.68M	-	-	-	-	-	-	-	-
Foreign Growth	-	28.86%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Mesa Laboratories, Inc. (MLAB) reported $245.3M in revenue for fiscal year 2025. This represents a 519% increase from $39.6M in 2012.

Mesa Laboratories, Inc. (MLAB) grew revenue by 11.5% over the past year. This is steady growth.

Mesa Laboratories, Inc. (MLAB) reported a net loss of $1.6M for fiscal year 2025.

Dividend & Returns

Yes, Mesa Laboratories, Inc. (MLAB) pays a dividend with a yield of 0.73%. This makes it attractive for income-focused investors.

Mesa Laboratories, Inc. (MLAB) has a return on equity (ROE) of -1.3%. Negative ROE indicates the company is unprofitable.

Mesa Laboratories, Inc. (MLAB) generated $37.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.