$17 B

IDXX Mkt cap, 04-Dec-2018

$545.4 M

IDEXX Laboratories Revenue Q3, 2018
IDEXX Laboratories Net income (Q3, 2018)93.2 M
IDEXX Laboratories EBIT (Q3, 2018)117.4 M
IDEXX Laboratories Cash, 30-Sep-2018146.9 M
IDEXX Laboratories EV17.4 B

IDEXX Laboratories Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

1.4b1.5b1.6b1.8b2.0b

Revenue growth, %

8%8%11%

Cost of goods sold

711.6m800.0m871.7m

Gross profit

890.3m975.4m1.1b

Gross profit Margin, %

56%55%56%

Sales and marketing expense

300.0m317.1m354.3m

R&D expense

99.7m101.1m109.2m

General and administrative expense

182.5m207.0m220.9m

Operating expense total

582.1m625.2m684.4m

EBIT

266.8m260.3m299.9m350.2m413.0m

EBIT margin, %

19%18%19%20%21%

Interest expense

29.2m32.0m37.2m

Interest income

2.5m3.7m5.3m

Pre tax profit

273.1m321.8m381.1m

Income tax expense

81.0m99.8m117.8m

Net Income

187.8m182.0m192.1m222.1m263.3m

Quarterly

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

Revenue

338.3m360.2m390.1m383.5m382.5m413.3m406.4m417.6m466.6m448.3m462.0m508.9m492.0m537.7m580.8m545.4m

Cost of goods sold

152.5m158.1m171.6m170.2m166.9m180.6m182.1m190.0m206.0m201.6m203.8m216.2m218.0m234.6m248.3m

Gross profit

185.8m202.1m218.5m213.3m215.5m232.8m224.3m227.5m260.5m246.7m258.2m292.7m274.0m303.1m332.4m

Gross profit Margin, %

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

Sales and marketing expense

60.1m67.8m68.0m70.6m75.1m75.2m73.1m79.8m76.7m80.0m87.2m87.7m88.8m100.1m96.3m95.1m

R&D expense

21.6m23.1m25.4m24.8m25.0m24.3m24.9m24.6m25.4m25.7m25.8m27.0m27.6m29.0m29.5m29.2m

General and administrative expense

38.7m41.1m41.8m45.7m42.6m44.9m46.2m49.3m54.3m52.6m52.9m55.5m57.2m60.9m61.1m64.0m

Operating expense total

120.3m132.1m135.3m141.1m142.7m144.5m144.2m153.7m156.4m158.3m165.9m170.2m173.6m190.1m376.9m188.3m

EBIT

65.5m70.0m83.2m72.2m72.8m88.3m71.9m73.8m104.2m88.5m92.2m122.6m100.4m113.0m145.6m117.4m

EBIT margin, %

19%19%21%19%19%21%18%18%22%20%20%24%20%21%25%22%

Interest expense

1.5m2.8m3.0m4.3m6.3m7.3m7.8m8.3m8.2m7.8m8.6m9.2m9.8m9.3m8.5m8.5m

Interest income

456.0k471.0k488.0k313.0k425.0k559.0k684.0k820.0k928.0k851.0k1.1m1.2m1.4m579.0k172.0k142.0k

Pre tax profit

64.5m67.7m80.7m68.2m66.9m81.6m64.8m66.3m96.9m81.5m84.7m114.6m92.0m104.3m137.3m109.0m

Income tax expense

18.8m21.2m23.5m16.0m20.3m24.7m20.6m20.3m29.7m25.1m15.7m29.2m21.5m14.9m28.6m15.8m

Net Income

45.7m46.6m57.2m52.2m46.6m56.9m44.2m46.0m67.2m56.5m69.1m85.4m70.5m89.5m108.7m93.2m

IDEXX Laboratories Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

279.1m322.5m129.0m154.9m187.7m

Accounts Receivable

Inventories

133.4m160.3m188.8m158.0m164.3m

Current Assets

652.7m759.4m821.6m845.6m972.0m

PP&E

281.2m303.6m333.0m357.4m379.1m

Goodwill

180.5m184.5m178.9m178.2m199.9m

Total Assets

1.2b1.4b1.5b1.5b1.7b

Accounts Payable

29.9m44.7m52.6m60.1m67.0m

Short-term debt

278.0m1.0m

Current Liabilities

478.4m820.9m856.8m934.6m1.0b

Long-term debt

150.4m350.0m597.1m593.1m606.1m

Non-Current Liabilities

233.9m445.7m702.2m704.3m762.7m

Total Debt

151.4m351.0m597.1m593.1m606.1m

Total Liabilities

712.3m1.3b1.6b1.6b1.8b

Additional Paid-in Capital

825.3m888.3m940.5m1.0b1.1b

Retained Earnings

1.5b1.7b318.4m540.4m803.5m

Total Equity

518.2m117.6m(84.0m)(108.2m)(53.8m)

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-31.8 x

Quarterly

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

Cash

264.8m286.2m305.0m292.7m182.2m163.2m141.2m133.0m141.1m150.1m160.4m166.0m169.0m159.2m174.6m146.9m

Inventories

146.0m141.1m145.4m156.0m173.4m184.5m192.4m183.8m175.7m168.5m172.2m169.7m176.7m179.0m176.5m179.7m

Current Assets

625.2m683.2m701.7m702.6m808.9m833.0m833.4m809.0m821.1m828.1m878.6m918.7m942.7m701.7m739.8m704.2m

PP&E

274.2m282.2m286.7m291.7m309.8m326.0m320.3m343.0m347.2m349.7m361.2m364.8m367.5m384.2m394.0m410.0m

Goodwill

181.0m180.5m181.6m176.5m176.9m179.7m180.4m181.9m180.7m181.0m180.6m196.7m199.5m201.0m196.0m216.0m

Total Assets

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

Accounts Payable

38.1m42.8m41.4m58.3m44.2m58.2m53.6m52.5m50.1m44.1m62.2m58.6m60.6m70.4m68.0m65.5m

Short-term debt

1.0m316.1m

Current Liabilities

593.0m517.2m600.4m630.3m803.4m775.4m824.8m878.7m822.8m760.2m936.1m1.0b996.5m728.8m774.3m759.5m

Long-term debt

624.0k150.1m150.0m350.0m500.0m598.9m599.6m600.0m598.0m599.1m594.9m600.9m604.1m609.0m603.1m602.4m

Non-Current Liabilities

67.4m232.9m229.9m430.9m593.5m693.4m691.2m673.8m675.0m685.2m709.9m721.8m721.2m789.6m787.2m786.4m

Total Debt

1.6m151.1m150.0m350.0m500.0m598.9m599.6m600.0m598.0m599.1m594.9m600.9m604.1m609.0m603.1m602.4m

Total Liabilities

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

Additional Paid-in Capital

798.3m847.1m856.4m866.2m912.6m921.7m931.8m952.9m972.4m994.3m1.0b1.0b1.1b1.1b1.1b1.1b

Retained Earnings

1.5b1.5b1.6b1.6b1.7b231.1m274.0m364.4m431.6m488.0m609.4m694.8m765.3m880.3m989.0m1.1b

Total Equity

534.9m512.3m452.9m229.5m34.1m8.6m(38.8m)(73.8m)(8.5m)55.0m(73.9m)(86.1m)(48.4m)(49.0m)(40.8m)(1.4m)

Debt to Equity Ratio

0.3 x0.3 x1.5 x70 x-15.5 x-8.1 x-70.4 x10.9 x-8 x-7 x-12.5 x-12.4 x-14.8 x

Debt to Assets Ratio

0.1 x0.1 x0.3 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x0.4 x

Financial Leverage

2.2 x2.5 x2.8 x5.6 x42 x172.8 x-38.1 x-20 x-175.2 x27.3 x-21.3 x-19 x-34.5 x-30 x-37.2 x-1.1 k x

IDEXX Laboratories Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

187.8m182.0m192.1m222.1m263.3mwdxefcqufszuzezftuxetqsqxt

Depreciation and Amortization

54.6m58.9m69.0m78.2m83.1m

Accounts Receivable

(15.9m)(3.6m)(50.1m)(22.6m)(24.9m)

Inventories

(1.3m)(38.0m)(35.0m)7.6m(19.1m)

Accounts Payable

(4.4m)6.7m(2.5m)2.1m1.4m

Cash From Operating Activities

246.0m235.8m216.4m334.6m373.3m

Purchases of PP&E

(77.6m)(60.5m)(82.9m)(64.8m)(74.4m)

Cash From Investing Activities

(86.1m)(80.4m)(308.4m)(90.8m)(138.7m)

Short-term Borrowings

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

Cash From Financing Activities

(102.5m)(103.4m)(95.6m)(217.8m)(208.0m)

Interest Paid

5.0m12.3m27.2m

Income Taxes Paid

67.7m60.2m54.9m

IDEXX Laboratories Ratios

USDY, 2018

EV/EBIT

148.5 x

EV/CFO

65.9 x

Financial Leverage

-1.1 k x
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IDEXX Laboratories Employee Rating

3.3522 votes
Culture & Values
3.4
Work/Life Balance
3.0
Senior Management
2.8
Salary & Benefits
3.7
Career Opportunities
3.0
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