IDEXX Laboratories Inc (IDXX) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of IDEXX Laboratories Inc stock $496, price $671, that is 26.0% below the price, quality 84 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $324.64 – $766.68 · fair‑value band $315.48 – $645.94 · the $670.71 price screens above the $496.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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IDEXX Laboratories, Inc. develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.
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It operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.
The company offers point-of-care diagnostic solutions, blood and urine chemistry, hematology, immunoassay, urinalysis, cytology/morphology, and coagulation analyzers; and SNAP rapid assays test kits.
It also provides commercial reference laboratory diagnostic and consulting services to veterinarians; veterinary consultation, telemedicine, and advisory services, including radiology, dental radiography, cardiology, internal medicine, and ultrasound consulting; 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, Quanti-Tray products, and Tecta system instruments; UV Viewer Plus, a UV light cabinet which aids in the visual interpretation of fluorescent-based water tests; and veterinary software and services for independent veterinary clinics and corporate groups.
In addition, the company offers diagnostic tests, services, and related instrumentation to manage the health status of livestock and poultry; human medical diagnostic products and services; and VetConnect PLUS, a cloud-based technology that enables veterinarians to access and analyze patients, as well as operates VetLab Station.
It 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.
Stock analysis
IDEXX Laboratories Inc (IDXX) currently trades at $670.71, while our model-based Fair Value estimate is $496.48, 26% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $248.24 per share, and 0 of the 24 models we run sit above the $670.71 price.
Bear case: the Economic Profit group reads lowest at $84.94, and 24 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $315.48 (bear) to $645.94 (bull), the price of $670.71 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 84/100 (high quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
IDEXX Laboratories Inc reported revenue of $4.3B in FY2025 versus $3.2B in FY2021, a compound +7.6%/yr. Reported net income was $1.1B in FY2025, compounding +9.2%/yr from FY2021.
Key figures
Market cap $54.1B Large · P/E ratio 38.7 · P/S ratio 11.9 · EPS (TTM) $17.34 · Net margin 25.0% · Return on equity 74.2% · Return on assets (EBIT) 35.9% · Operating margin 35.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 98 out of 100 (high confidence).
What moves the price
The share trades about 13% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −26%, IDXX screens richer than that median.
Fair Value models
Bear$315.48Fair Value $496.48Bull$645.94
Price $670.71 · Downside -26.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($14.73 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 5 officers or directors sold shares worth $28.6M and none bought.
SaleDaniel M JuniusDirector1,200 shares at $704.07$844,889Nov 4, 2026
SaleMichael LaneExecutive Vice President3,979 shares at $688.64$2.7MNov 4, 2026
SaleJonathan Jay MazelskyExecutive Chair of the Board, Director2× since Feb 26, 2026: 48,466 shares, avg. $681.23$33.0MNov 4, 2026
SaleSharon E. UnderbergEVP, GC & Corporate Secretary8,906 shares at $688.59$6.1MNov 4, 2026
SaleLawrence D KingsleyDirector2,203 shares at $532.08$1.2MSep 4, 2026
SaleNimrata HuntExecutive Vice President3× since Nov 7, 2025: 13,876 shares, avg. $686.52$9.5MMar 3, 2026
SaleSophie Vandebroek V.Director1,464 shares at $628.62$920,297Feb 17, 2026
SaleMichael G EricksonExecutive Vice President5,371 shares at $627.38$3.4MFeb 17, 2026
SaleGeorge FennellExecutive Vice President11,345 shares at $646.72$7.3MFeb 10, 2026
Plus 13 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.7%
Start year 2020 (pandemic). Over 10 years: +10.4% a year
Revenue growth 34 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+14.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.4%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.14.4% vs 20.4%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.26% → 32%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +27.0% a year for the price and +5.6% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Strong recurring revenue from diagnostics and software supports a durable moat via switching costs and ecosystem lock-in in veterinary care, while limited ownership signals and pet healthcare demand pressures constrain upside.
Main risk: Corporate owners such as Mars Petcare could mandate use of their Antech or Heska labs in acquired veterinary practices, reducing IDEXX access to independent clinics and pressuring diagnostic volumes or pricing.
Bull case: IDEXX could leverage its large installed base and AI tools such as CoVetAI to increase testing utilization per clinic and deepen ecosystem lock-in despite rival clinic ownership.
Bear case: If Mars and similar owners accelerate practice acquisitions and route diagnostics internally, IDEXX could lose meaningful share of independent clinic volume and face sustained pressure on recurring reagent sales.
IDEXX generates strong recurring revenue from its diagnostics and software in companion animal care, even while clinic visits stay soft. The acquisition of an AI workflow platform could lift test utilization, but broader sector pressures on pet healthcare demand create real uncertainty. Our models currently see it as overvalued. Will the recurring base hold up better than the softer visits suggest, or will growth slow further?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Diagnostics & Research · 126 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score84 · Top 25%
Fair Value upside−26.0% · Above median
Profitability
Return on equity (12 months)74.2% · Top 25%
Return on assets31.6% · Top 25%
Net margin (12 months)25.0% · Top 25%
Operating margin (12 months)35.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)9.7% · Above median
Balance sheet
Debt / equity0.23× · Above median
Valuation Multiplesvs Diagnostics & Research median · lower = cheaper
P/E (12 months)38.7× · Pricier than median
P/B33.71× · Priciest 25%
P/S (12 months)11.88× · Priciest 25%
Price / free cash flow51.4× · Priciest 25%
EV/EBITDA33.5× · Priciest 25%
PEG3.02× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)49· sector 38
PAST (return on equity)100· sector 15
HEALTH (low debt)88· sector 95
DIVIDEND (yield)0· sector 32
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is IDEXX Laboratories Inc (IDXX) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $496.48 versus a price of $670.71, about 26% lower (overvalued).
What is the fair value of IDXX?
Our model-based fair value for IDEXX Laboratories Inc is $496.48 (as of Nov 3, 2026), built from audited fundamentals. The current price: $670.71.
What is the quality score of IDXX?
IDEXX Laboratories Inc has a Quality Score of 84/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for IDEXX Laboratories Inc (IDXX)?
Our model-based price target is the fair value of $496.48 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario $315.48, optimistic scenario $645.94. It is a calculation from audited fundamentals, not an analyst target.
What is the IDEXX Laboratories Inc stock forecast for 2026?
Our models put fair value at $496.48, about 26% lower versus a price of $670.71 (overvalued). Cautious scenario $315.48, optimistic scenario $645.94. The calculation is refreshed regularly with new filings.
What is the revenue of IDEXX Laboratories Inc (IDXX)?
IDEXX Laboratories Inc reported trailing-twelve-month revenue of about $4.6B (latest available figure, as of Nov 3, 2026).
What growth is priced into IDEXX Laboratories Inc (IDXX)?
For today's price to be fair in a discounted-cash-flow model, IDEXX Laboratories Inc would have to grow free cash flow by +30.0 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.7 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of IDXX use?
Our models discount IDEXX Laboratories Inc at 10.5 %: a base by market capitalisation (large), damped by beta 1.54, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For IDEXX Laboratories Inc that is +30.0 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has IDEXX Laboratories Inc (IDXX) delivered so far?
Over the past 5 years revenue at IDEXX Laboratories Inc grew +9.7 % a year. The price currently implies +30.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of IDEXX Laboratories Inc (IDXX) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into IDEXX Laboratories Inc (+30.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of IDEXX Laboratories Inc (IDXX)?
The free-cash-flow yield on the price is 1.95 %: that much free cash flow IDEXX Laboratories Inc produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of IDEXX Laboratories Inc (IDXX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IDEXX Laboratories Inc it is $496.48 per share (as of Nov 3, 2026), against a price of $670.71. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is IDEXX Laboratories Inc stock overvalued or undervalued in 2026?
As of Nov 3, 2026, IDXX trades above its calculated fair value: price $670.71, fair value $496.48, a gap of about −26% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IDXX?
No. The price is what the market pays today ($670.71); the fair value is what the company's own numbers justify ($496.48). For IDEXX Laboratories Inc the two are $174.23 per share apart. That gap is exactly why we show both numbers side by side.
How much is IDEXX Laboratories Inc worth?
The market values IDEXX Laboratories Inc at about $54.1B (market capitalisation, as of Nov 3, 2026). Per share that is $670.71; our models calculate a fair value of $496.48 per share.
What do the bullish and bearish scenarios say about IDXX?
Our models span a range for IDEXX Laboratories Inc: cautious scenario $315.48, base $496.48, optimistic $645.94 per share (as of Nov 3, 2026, price $670.71). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IDXX?
IDEXX Laboratories Inc trades at a price-to-earnings ratio of 38.7 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $496.48 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 52.5. Other multiples: PEG 3.0, P/B 33.7, P/S 11.9, EV/EBITDA 33.5.
What is the PEG ratio of IDXX?
The PEG ratio of IDEXX Laboratories Inc is 3.02 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of IDEXX Laboratories Inc (IDXX)?
Balance-sheet figures for IDEXX Laboratories Inc (as of Nov 3, 2026): return on equity 74.2%, debt of 0.23 per unit of equity. They feed the Quality Score of 84/100, which measures business quality independently of the share price.
How far is IDXX from its 52-week high?
IDEXX Laboratories Inc trades at $670.71, about 13% below its 52-week high of $766.68 and 33% above the low of $504.70 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $496.48 is for.
Which stocks are comparable to IDEXX Laboratories Inc?
From the same area (Healthcare) we also value Thermo Fisher Scientific Inc, Danaher Corporation, WuXi AppTec Co, Lonza Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is IDEXX Laboratories Inc stock attractive at the current price?
The data as of Nov 3, 2026: price $670.71, calculated fair value $496.48 (−26%), Quality Score 84/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IDXX calculated?
We run IDEXX Laboratories Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $496.48, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. IDEXX Laboratories Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of IDEXX Laboratories Inc (IDXX)?
The closing price on Nov 5, 2026 was $670.71. Our model-based fair value is $496.48, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IDEXX Laboratories Inc right now?
A high-quality business (quality 84/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case ($645.94). The favourable scenario is already priced in. A fairly wide model range ($315.48 to $645.94) leaves room in how you read the outcome.
Where does the earnings growth of IDEXX Laboratories Inc (IDXX) come from?
Earnings per share at IDEXX Laboratories Inc grew +20.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.2 %, EBIT margin +5.5 %, tax rate +1.3 %, residual (interest, one-offs) +0.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of IDEXX Laboratories Inc
How large is the market capitalisation of IDEXX Laboratories Inc (IDXX)?
The market capitalisation of IDEXX Laboratories Inc is $54.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of IDEXX Laboratories Inc (IDXX)?
The price-to-sales ratio of IDEXX Laboratories Inc is 11.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of IDEXX Laboratories Inc (IDXX)?
Earnings per share at IDEXX Laboratories Inc are $17.34 (price ÷ EPS = P/E 38.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of IDEXX Laboratories Inc (IDXX)?
The net margin of IDEXX Laboratories Inc is 25.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of IDEXX Laboratories Inc (IDXX)?
The return on equity (ROE) of IDEXX Laboratories Inc is 74.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of IDEXX Laboratories Inc (IDXX)?
On an EBIT basis the return on assets of IDEXX Laboratories Inc is 35.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of IDEXX Laboratories Inc (IDXX)?
The operating margin of IDEXX Laboratories Inc is 35.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IDEXX Laboratories Inc (IDXX)?
Revenue at IDEXX Laboratories Inc is growing +9.7% versus a year earlier (3y avg +8.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at IDEXX Laboratories Inc (IDXX)?
Earnings per share at IDEXX Laboratories Inc are growing +17.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does IDEXX Laboratories Inc (IDXX) carry?
The net debt of IDEXX Laboratories Inc is $897M (fiscal year 2025, ≈ 0.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 3, 2026