IDEXX Laboratories, Inc. (IDXX)

FairStock Score: 61/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I view IDEXX as a high-quality franchise: it sells diagnostic products and analyzers to veterinary clinics, water testing, and livestock customers, and the data hint at a durable competitive moat through high returns on capital and steady growth. The filed numbers support the quality case. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $1.2B, net income $338.4M, and diluted EPS $4.27; a year earlier those were $1.1B, $294.0M, and $3.63. For fiscal 2025 ended 2025-12-31, revenue was $4.3B, net income $1.1B, and diluted EPS $13.08, up from $3.9B, $887.9M, and $10.67 in fiscal 2024. FairStock calculates ROE of 74.21%, ROCE of 27.08%, a Piotroski F-Score of 9/9, and an Altman Z-Score of 18.17, so financial health looks excellent. Free cash flow is $1.2B, though the 2.8% FCF yield is modest. The trouble is price. At the 2026-10-26 close of $570.21, FairStock shows P/E 40.10, P/B 27.88, PEG 2.66, EV/EBITDA 27.87, and a Graham Number of $80.87—on Graham’s arithmetic there is no margin of safety. The Lynch category is STALWART, with 12.7% annual profit growth and 9.7% revenue growth over five years. The balance sheet has D/E of 0.68 and beta of 1.54, so it is not risk-free, but the operating quality is rare. I see a wonderful business, but the stock already discounts a lot of steady compounding. That combination calls for patience and price discipline.

In plain English: IDEXX makes testing products and equipment for veterinary clinics, plus water and livestock testing. The business looks strong: it earns high profits, generates plenty of cash, and shows little sign of financial trouble. But the stock at $570.21 on 2026-10-26 looks expensive compared with the value of its assets and its earnings, leaving little cushion if growth slows.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer