IDXX

Idexx LaboratoriesNASDAQ · Health Care Equipment · Health Care

Previous close

551.21

Change

−24.77 / −4.30%

FinDog View

Bullish

52-Week Range ?

500.61 – 769.98

P/E (TTM) ?

38.9

Forward P/E ?

32.2

Based on consensus earnings for the next 12 months

Market Cap

$43.9B

+5.56%

S&P 500 −0.91% over same period

Volume / Avg Volume

1.2M / 447K

2.63× average

Latest earnings analysisFY2026 Q2Reported 2026-08-04

IDEXX Q2 FY26: revenue up 9.7%, EPS $4.27, guidance midpoint nudged higher

IDEXX delivered a genuinely strong quarter: revenue of $1.22 billion rose 9.7% as reported and 9.0% organic, gross margin reached 64.0%, and operating margin hit 35.0%. The $4.27 EPS beat the $4.0205 consensus, but $0.14 of it came from a share-based-compensation tax benefit, so the quality is lower than the headline suggests. Our read is Bullish, with cash conversion and the guidance mix as the details to watch.

Read the full analysis →

Revenue$1.22BYoY +9.70%

EPS (non-GAAP)$4.07Beatest. $4.02

Next-quarter revenue guidance$4.72B ±0.5%YoY +288.20%

Next-day move−0.56%

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 47.61M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-08-04	$1.2B	4.07 / 4.02	−0.56%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-05-05	$1.1B	3.30 / 3.47	+2.89%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-02-02	$4.3B	2.92 / 2.99	−1.10%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-11-03	$1.1B	3.22 / 3.19	−0.11%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-08-04	$1.1B	3.50 / —	−5.98%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-05-01	$998M	2.91 / —	+0.11%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2026-11-02

Tomorrow · Pre-market

Consensus EPS

$3.82

Last quarter EPS $4.07

Avg. next-day move over the last 6 reports

±1.8%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 7 of its 5-year rangeCheap

5-year range 38.1 – 56.8 · Median 47.6

Last 4 quarters: $1.2B in buybacks + $0 in dividends, 2.68% of market cap combined

P/E (TTM)

38.9

P/B

27.5

P/S

9.8

PEG

2.44

Earnings Reaction

Over the last 6 reports, the stock moved ±1.8% on average on the first trading day after, rising 2 times

Most recent −0.56%

Volatility & Correlation

1-year beta 0.80 · Correlation with S&P 500 0.32Tracks the market

Annualized volatility 33% vs. 13% for the S&P 500

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

Buy 0 · $0.00MSell 1 · $1.2MNet selling $1.2M

09-04Kingsley Lawrence DDirectorSell$1.2M2,203 shares · Avg price 532.08

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q2	1.22	+9.7%	64.0%	0.43	0.34	0.32	4.27
FY2026 Q1	1.14	+14.3%	63.4%	0.36	0.28	0.23	3.47
FY2025 Q4	1.09	+14.3%	60.3%	0.32	0.25	0.33	3.09
FY2025 Q3	1.11	+13.3%	61.8%	0.35	0.27	0.37	3.40
FY2025 Q2	1.11	+10.6%	62.6%	0.37	0.29	0.15	3.63
FY2025 Q1	1.00	+3.6%	62.4%	0.32	0.24	0.21	2.96
FY2024 Q4	0.95	+5.8%	59.8%	0.26	0.22	0.23	2.62
FY2024 Q3	0.98	+6.6%	61.1%	0.30	0.23	0.19	2.80
FY2024 Q2	1.00	+6.4%	61.7%	0.26	0.20	0.22	2.44
FY2024 Q1	0.96	+7.1%	61.5%	0.30	0.24	0.17	2.81
FY2023 Q4	0.90	+8.8%	58.4%	0.25	0.19	0.22	2.31
FY2023 Q3	0.92	+8.8%	59.9%	0.28	0.21	0.24	2.53

Peers

Largest by market cap in the sector · Latest quarterView Health Care sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
IDXX	Idexx Laboratories	$43.9B	38.9	+9.7%	64.0%	+5.56%	Bullish
LLY	Lilly (Eli)	$1.34T	50.2	+38.6%	83.9%	+22.51%	Bullish	Compare
JNJ	Johnson & Johnson	$666B	41.3	+5.9%	68.1%	+3.20%	Bullish	Compare
ABBV	AbbVie	$522B	81.4	+10.2%	74.7%	+12.73%	Bullish	Compare
UNH	UnitedHealth Group	$367B	23.0	+0.4%	88.1%	+10.87%	Bullish	Compare
MRK	Merck & Co.	$371B	117.2	+5.1%	73.5%	+2.90%	Neutral	Compare
TMO	Thermo Fisher Scientific	$258B	36.4	+9.1%	—	+3.25%	Neutral	Compare
AMGN	Amgen	$254B	28.5	+9.5%	72.0%	+10.56%	Bullish	Compare
GILD	Gilead Sciences	$213B	—	+6.8%	81.1%	+14.51%	Neutral	Compare

Earnings Preview · Reports 11-02 Pre-market

Idexx Q3 preview: can consumables and services keep growing?

Whether recurring revenue from diagnostic consumables and reference lab services keeps double-digit growth
Whether capital instrument revenue, down nearly 20% last quarter, stops falling
How much of EPS comes from tax and FX tailwinds rather than operations

Consensus EPS for the quarter is $3.8154; in August the company guided FY2026 revenue to $4.70–4.75 billion.

Over the past 6 reports, the stock moved ±1.8% on average, rose only 2 times, and fell 0.6% after the latest report.

Watch out for：If consumables and services slow while capital instruments keep declining, revenue quality would come under clear pressure.

The View in One Line

Revenue up 9.7% to $1.22B, 64% gross margin, consumables +14.7%, reference labs +10.6%; recurring revenue quality high, though EPS includes one-off tax/FX tailwinds.

Updated 2026-10-30

View History

09-17Neutral → Bullish
Revenue rose 9.7% to $1.22B with 64% gross margin; consumables up 14.7% and reference labs up 10.6%. Recurring revenue quality is strong, though EPS had one-off tailwinds.

ETFs holding it

XLV Health Care Select Sector SPDR Fund0.65%
QUAL iShares MSCI USA Quality Factor ETF0.28%
QQQ Invesco QQQ0.20%
QQQM Invesco NASDAQ 100 ETF0.20%
RSP Invesco S&P 500 Equal Weight ETF0.19%
SCHG Schwab U.S. Large-Cap Growth ETF0.17%
VUG Vanguard Growth ETF0.14%
SPY SPDR S&P 500 ETF Trust0.07%

Weights estimated at latest prices

Key Events

05-15Governance
IDEXX Shareholders Approve Director Declassification and Special Meeting Right
At the May 12, 2026 annual meeting, shareholders approved charter amendments to eliminate director classes within three years, with all directors elected annually starting in 2029, and to allow shareholders holding 25% for one year to call special meetings.Source ↗
03-26Management Change
EVP of Global Strategy and Commercial Hunt Departs
Idexx EVP of Global Strategy and Commercial Nimrata Hunt departed on April 13, 2026, and will receive approximately $1.23 million in salary continuation and $984,000 in bonus and other severance compensation.Source ↗

Key Financial Trends

Quarterly Revenue ($B)1.2

Gross Margin64.0%

Free Cash Flow ($B)0.3