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NASDAQ · IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES · LARGE CAP

Idexx Laboratories Inc. IDXX

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$4.3B
▲ 10.4% YoY
$1.1B
▲ 19.3% YoY
$1.1B
▲ 30.8% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

IDEXX Laboratories develops, manufactures and distributes diagnostic products and provides services primarily for the companion animal veterinary, livestock, poultry and dairy, and water testing industries, and also manufactures and sells human medical point-of-care diagnostic products. As of December 31, 2025, it had approximately 11,000 regular full-time and part-time employees in approximately 34 countries around the world. It operates primarily through three reportable business segments — Companion Animal Group, Water quality products, and Livestock, Poultry and Dairy — along with an Other operating segment that combines its human medical diagnostic products business with its out-licensing arrangement. Its reference laboratory diagnostic and consulting services reach veterinarians in geographies including the United States, Europe, Canada, Australia, Japan, New Zealand, South Africa and South Korea, through a network of approximately 80 laboratories. The Water segment provides testing solutions and related instrumentation for detection and quantification of microbiological parameters in water. IDEXX was incorporated in Delaware in 1983.

Written from the business description in IDEXX LABORATORIES INC /DE's annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth

USD 4.3B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 4.3 · Net income 1.1
2B4B
2008201120142017202020232025
Compound annual growth
+8.5%
+9.7%
+10.4%
+9.5%
+16.0%
+12.7%
+18.6%
+14.4%
+17.7%
+14.3%
+20.4%
+14.1%
+46.1%
+11.7%
+15.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.7% a year over the five years to FY2025 — but profit grew faster: net income at +12.7%, earnings per share at +14.3%.

The share count fell from 0.09B to 0.08B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

25 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 31.6% · Net 24.6%
10%20%30%
200820162025
ROE
FY2025 · ROE 66.2%
50%100%
200820162025
Three returns, three denominators.

Each USD of equity produced 66 cents of profit this year.

Cash & shareholders

USD 1.2B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 1.1
0.5B1.0B
200820162025
Net buybacks $B Dividends $B
FY2025 · Dividends · · Net buybacks 1.2
0.5B1.0B
2008201120142017202020232025

USD 1.2B in buybacks — 115% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 3.4B
EquityUSD 1.6B
CashUSD 180.1M
Gross debtUSD 449.8M
Net debtUSD 269.8M
Current ratio1.23×

Net debt stands at 17% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
IDXX, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B4.33.93.73.43.22.72.42.22.01.81.61.51.41.31.21.11.01.0
Operating income $B1.41.11.10.90.90.70.60.50.40.40.30.30.30.30.20.20.20.2
EBITDA $B1.51.31.21.01.00.80.60.60.50.40.40.30.30.30.30.20.20.2
Income tax $B0.30.20.20.20.20.10.10.10.10.10.10.10.10.10.10.10.10.1
Net income $B1.10.90.80.70.70.60.40.40.30.20.20.20.20.20.20.10.10.1
Free cash flow $B1.10.80.80.40.60.50.30.30.30.30.10.20.20.20.20.10.10.1
EPS, diluted $13.0810.6710.068.038.606.714.894.262.942.442.051.791.743.172.782.372.011.87
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend——————————————————
ROE %66.257.780.7104.6112.7143.7—————57.232.530.329.126.025.726.5
Shares out B0.080.080.080.080.080.090.090.090.09◌◌◌◌◌◌◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008. One check was skipped: revenue is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityIn Vitro & In Vivo Diagnostic Substances
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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