$20.9 B

IDXX Mkt cap, 19-Sep-2018

$1.1 B

IDEXX Laboratories Revenue Q2, 2018
IDEXX Laboratories Gross profit (Q2, 2018)635.5 M
IDEXX Laboratories Gross profit margin (Q2, 2018), %56.8%
IDEXX Laboratories Net income (Q2, 2018)198.2 M
IDEXX Laboratories EBIT (Q2, 2018)258.6 M
IDEXX Laboratories Cash, 30-Jun-2018174.6 M
IDEXX Laboratories EV21.3 B

IDEXX Laboratories Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

1.4 b1.5 b1.6 b1.8 b

Revenue growth, %

8%8%11%

Cost of goods sold

711.6 m800 m

Gross profit

890.3 m975.4 m

Gross profit Margin, %

56%55%

Sales and marketing expense

317.1 m

R&D expense

101.1 m

General and administrative expense

207 m

Operating expense total

625.2 m

EBIT

266.8 m260.3 m299.9 m350.2 m

EBIT margin, %

19%18%19%20%

Interest expense

29.2 m32 m

Interest income

2.5 m3.7 m

Pre tax profit

273.1 m321.8 m

Income tax expense

81 m99.8 m

Net Income

187.8 m182 m192.1 m222.1 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

338.3 m360.2 m390.1 m383.5 m382.5 m413.3 m406.4 m417.6 m466.6 m448.3 m462 m508.9 m492 m537.7 m1.1 b

Cost of goods sold

152.5 m158.1 m171.6 m170.2 m166.9 m180.6 m182.1 m190 m206 m201.6 m203.8 m216.2 m218 m234.6 m482.9 m

Gross profit

185.8 m202.1 m218.5 m213.3 m215.5 m232.8 m224.3 m227.5 m260.5 m246.7 m258.2 m292.7 m274 m303.1 m635.5 m

Gross profit Margin, %

55%56%56%56%56%56%55%54%56%55%56%58%56%56%57%

Sales and marketing expense

60.1 m67.8 m68 m70.6 m75.1 m75.2 m73.1 m79.8 m76.7 m80 m87.2 m87.7 m88.8 m100.1 m196.4 m

R&D expense

21.6 m23.1 m25.4 m24.8 m25 m24.3 m24.9 m24.6 m25.4 m25.7 m25.8 m27 m27.6 m29 m58.5 m

General and administrative expense

38.7 m41.1 m41.8 m45.7 m42.6 m44.9 m46.2 m49.3 m54.3 m52.6 m52.9 m55.5 m57.2 m60.9 m122 m

Operating expense total

120.3 m132.1 m135.3 m141.1 m142.7 m144.5 m144.2 m153.7 m156.4 m158.3 m165.9 m170.2 m173.6 m190.1 m376.9 m

EBIT

65.5 m70 m83.2 m72.2 m72.8 m88.3 m71.9 m73.8 m104.2 m88.5 m92.2 m122.6 m100.4 m113 m258.6 m

EBIT margin, %

19%19%21%19%19%21%18%18%22%20%20%24%20%21%23%

Interest expense

1.5 m2.8 m3 m4.3 m6.3 m7.3 m7.8 m8.3 m8.2 m7.8 m8.6 m9.2 m9.8 m9.3 m17.7 m

Interest income

456 k471 k488 k313 k425 k559 k684 k820 k928 k851 k1.1 m1.2 m1.4 m579 k751 k

Pre tax profit

64.5 m67.7 m80.7 m68.2 m66.9 m81.6 m64.8 m66.3 m96.9 m81.5 m84.7 m114.6 m92 m104.3 m241.7 m

Income tax expense

18.8 m21.2 m23.5 m16 m20.3 m24.7 m20.6 m20.3 m29.7 m25.1 m15.7 m29.2 m21.5 m14.9 m43.5 m

Net Income

45.7 m46.6 m57.2 m52.2 m46.6 m56.9 m44.2 m46 m67.2 m56.5 m69.1 m85.4 m70.5 m89.5 m198.2 m

IDEXX Laboratories Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

279.1 m322.5 m129 m154.9 m

Inventories

133.4 m160.3 m188.8 m158 m

Current Assets

652.7 m759.4 m821.6 m845.6 m

PP&E

281.2 m303.6 m333 m357.4 m

Goodwill

180.5 m184.5 m178.9 m178.2 m

Total Assets

1.2 b1.4 b1.5 b1.5 b

Accounts Payable

29.9 m44.7 m52.6 m60.1 m

Short-term debt

1 m1 m

Current Liabilities

478.4 m820.9 m856.8 m934.6 m

Long-term debt

150.4 m350 m597.1 m593.1 m

Non-Current Liabilities

233.9 m445.7 m702.2 m704.3 m

Total Debt

151.4 m351 m593.1 m

Total Liabilities

712.3 m1.3 b1.6 b1.6 b

Additional Paid-in Capital

825.3 m888.3 m940.5 m1 b

Retained Earnings

1.5 b1.7 b318.4 m540.4 m

Total Equity

518.2 m117.6 m(84 m)(108.2 m)

Debt to Equity Ratio

0.3 x3 x-5.5 x

Debt to Assets Ratio

0.1 x0.3 x0.4 x

Financial Leverage

2.4 x11.8 x-17.6 x-14.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

264.8 m286.2 m305 m292.7 m182.2 m163.2 m141.2 m133 m141.1 m150.1 m160.4 m166 m169 m159.2 m174.6 m

Inventories

146 m141.1 m145.4 m156 m173.4 m184.5 m192.4 m183.8 m175.7 m168.5 m172.2 m169.7 m176.7 m179 m176.5 m

Current Assets

625.2 m683.2 m701.7 m702.6 m808.9 m833 m833.4 m809 m821.1 m828.1 m878.6 m918.7 m942.7 m701.7 m739.8 m

PP&E

274.2 m282.2 m286.7 m291.7 m309.8 m326 m320.3 m343 m347.2 m349.7 m361.2 m364.8 m367.5 m384.2 m394 m

Goodwill

181 m180.5 m181.6 m176.5 m176.9 m179.7 m180.4 m181.9 m180.7 m181 m180.6 m196.7 m199.5 m201 m196 m

Total Assets

1.2 b1.3 b1.3 b1.3 b1.4 b1.5 b1.5 b1.5 b1.5 b1.5 b1.6 b1.6 b1.7 b1.5 b1.5 b

Accounts Payable

38.1 m42.8 m41.4 m58.3 m44.2 m58.2 m53.6 m52.5 m50.1 m44.1 m62.2 m58.6 m60.6 m70.4 m68 m

Short-term debt

1 m1.1 m

Current Liabilities

593 m517.2 m600.4 m630.3 m803.4 m775.4 m824.8 m878.7 m822.8 m760.2 m936.1 m1 b996.5 m728.8 m774.3 m

Long-term debt

624 k150.1 m150 m350 m500 m598.9 m599.6 m600 m598 m599.1 m594.9 m600.9 m604.1 m609 m603.1 m

Non-Current Liabilities

67.4 m232.9 m229.9 m430.9 m593.5 m693.4 m691.2 m673.8 m675 m685.2 m709.9 m721.8 m721.2 m789.6 m787.2 m

Total Debt

1.6 m151.1 m150 m350 m500 m598.9 m599.6 m600 m598 m599.1 m594.9 m600.9 m604.1 m609 m603.1 m

Total Liabilities

660.3 m750.1 m830.3 m1.1 b1.4 b1.5 b1.5 b1.6 b1.5 b1.4 b1.6 b1.7 b1.7 b1.5 b1.6 b

Additional Paid-in Capital

798.3 m847.1 m856.4 m866.2 m912.6 m921.7 m931.8 m952.9 m972.4 m994.3 m1 b1 b1.1 b1.1 b1.1 b

Retained Earnings

1.5 b1.5 b1.6 b1.6 b1.7 b231.1 m274 m364.4 m431.6 m488 m609.4 m694.8 m765.3 m880.3 m989 m

Total Equity

534.9 m512.3 m452.9 m229.5 m34.1 m8.6 m(38.8 m)55 m(49 m)(40.8 m)

Financial Leverage

2.2 x2.5 x2.8 x5.6 x42 x172.8 x-38.1 x27.3 x-30 x-37.2 x

IDEXX Laboratories Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

187.8 m182 m192.1 m222.1 m

Depreciation and Amortization

54.6 m58.9 m69 m78.2 m

Accounts Receivable

(16 m)(3.6 m)(50 m)(22.6 m)

Inventories

(1.3 m)(38 m)(35 m)7.6 m

Accounts Payable

(4.4 m)6.7 m(2.5 m)2.1 m

Cash From Operating Activities

246 m235.8 m216.4 m334.6 m

Purchases of PP&E

(77.6 m)(60.5 m)(82.9 m)(64.8 m)

Cash From Investing Activities

(86.1 m)(80.4 m)(308.4 m)(90.8 m)

Short-term Borrowings

(1.1 m)(1.4 m)(1.4 m)(1.4 m)

Cash From Financing Activities

(102.5 m)(103.4 m)(95.6 m)(217.8 m)

Interest Paid

5 m12.3 m27.2 m

Income Taxes Paid

67.7 m60.2 m54.9 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Net Income

45.7 m46.6 m57.2 m52.2 m46.6 m103.5 m147.7 m46 m113.2 m169.7 m69.1 m154.5 m225 m89.5 m198.2 m

Depreciation and Amortization

32.9 m51.2 m18.5 m38.2 m58 m20.3 m40.9 m61.6 m20.8 m41.7 m

Accounts Receivable

(57.1 m)(51 m)(21.5 m)(23.6 m)(16.6 m)(19.4 m)(32.4 m)(18.7 m)(21.8 m)(32.9 m)

Inventories

145.4 m156 m173.4 m(16 m)(27.2 m)1.8 m214 k(2.5 m)(5.4 m)(18.9 m)(23 m)(8.1 m)(16.8 m)

Accounts Payable

41.4 m58.3 m44.2 m(3 m)(2.8 m)(1.8 m)99 k(2.5 m)(3.7 m)1.4 m(3.5 m)(1.9 m)3 k

Cash From Operating Activities

65.5 m142.5 m23.2 m134.1 m234.5 m31.3 m141.5 m252.2 m34.9 m153.7 m

Purchases of PP&E

(46.9 m)(67.5 m)(21.9 m)(37.9 m)(50 m)(23.6 m)(38.6 m)(54.4 m)(23.7 m)(51.4 m)

Cash From Investing Activities

(227.6 m)(282.4 m)(23.8 m)(53.6 m)(76.5 m)(29 m)(72.7 m)(114.2 m)

Short-term Borrowings

(1.4 m)(1.4 m)

Cash From Financing Activities

3.3 m(36.4 m)1.2 m(72 m)(141.2 m)1.3 m(62.1 m)(130 m)(325 m)(395.7 m)

IDEXX Laboratories Ratios

USDY, 2018

EV/EBIT

82.3 x

EV/CFO

138.5 x

Financial Leverage

-37.2 x
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