Mesa Laboratories was founded in 1982 and is headquartered in Lakewood, US

Mesa Laboratories has offices in Lakewood, Omaha, Bozeman, Butler and in 3 other locations

Lakewood, US (HQ)

12100 W 6th Ave Frontage Rd

Traverse City, US

13606 S W Bay Shore Dr

Markham, CA

3075 14th Ave

Chassieu, FR

2 Rue Augustin Fresnel

Butler, US

10 Park Pl

Bozeman, US

10 Evergreen Dr

Mesa Laboratories's revenue was reported to be $93.7 m in FY, 2017 which is a **11% increase** from the previous period.

USD

## Revenue (FY, 2017) | 93.7 m |

## Revenue growth (FY, 2016 - FY, 2017), % | 11% |

## Gross profit (FY, 2017) | 79.8 m |

## Gross profit margin (FY, 2017), % | 85% |

## Net income (FY, 2017) | 11.2 m |

## EBIT (FY, 2017) | 16.3 m |

## Market capitalization (22-Aug-2017) | 512.8 m |

## Cash (31-Mar-2017) | 5.8 m |

## EV | 508.1 m |

Mesa Laboratories's current market capitalization is $512.8 m.

- Source: SEC Filings

USD | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|

## Revenue | 71.3 m | 84.7 m | 93.7 m |

## Revenue growth, % | 35% | 19% | 11% |

## Cost of goods sold | 6.3 m | 13.9 m | |

## Gross profit | 78.4 m | 79.8 m | |

## Gross profit Margin, % | 93% | 85% | |

## R&D expense | 4.2 m | ||

## General and administrative expense | 22.8 m | ||

## Operating expense total | 27 m | ||

## EBIT | 15.9 m | 16.3 m | 16.3 m |

## EBIT margin, % | 22% | 19% | 17% |

## Pre tax profit | 14.3 m | ||

## Income tax expense | 4.4 m | 3.1 m | |

## Net Income | 9.6 m | 11.2 m | 11.2 m |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 16.4 m | 18.5 m | 17.8 m | 18.2 m | 21.8 m | 19.9 m | 21.1 b | 24.4 b | 23.8 b |

## Cost of goods sold | 6.7 m | 7.4 m | 6.8 m | 7 m | 8.7 m | 7.7 m | 9.1 b | 10.7 b | 10.3 b |

## Gross profit | 9.7 m | 11.1 m | 11.1 m | 11.1 m | 13.1 m | 12.2 m | 12 b | 13.7 b | 13.5 b |

## Gross profit Margin, % | 59% | 60% | 62% | 61% | 60% | 61% | 57% | 56% | 57% |

## R&D expense | 751 k | 876 k | 832 k | 963 k | 991 k | 975 k | 1 b | 1 b | 861 m |

## General and administrative expense | 3.8 m | 4 m | 4.7 m | 4.7 m | 6.8 m | 5.9 m | 6 b | 6 b | 5.9 b |

## Operating expense total | 4.6 m | 4.9 m | 5.6 m | 5.7 m | 7.8 m | 6.9 m | 7 b | 7 b | 6.7 b |

## EBIT | 3.1 m | 4.9 m | 3.7 m | 3.6 m | 3 m | 3.8 m | 2.6 b | 4 b | 4.4 b |

## EBIT margin, % | 19% | 26% | 21% | 20% | 14% | 19% | 12% | 16% | 18% |

## Pre tax profit | 2.9 m | 4.7 m | 3.7 m | 3.5 m | 2.8 m | 3.5 m | 2.2 b | 3.2 b | 3.9 b |

## Income tax expense | 1 m | 1.7 m | 1.3 m | 1.2 m | 1 m | 1.1 m | 239 m | 854 m | 628 m |

## Net Income | 1.9 m | 3.1 m | 2.4 m | 2.3 m | 1.8 m | 2.4 m | 1.9 b | 2.4 b | 3.3 b |

- Source: SEC Filings

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Cash | 5.6 m | 2 m | 5.7 m | 5.8 m |

## Accounts Receivable | 9.3 m | 12.1 m | ||

## Inventories | 13.9 m | |||

## Current Assets | 26.6 m | 29.6 m | 37.2 m | 35.8 m |

## PP&E | 7.7 m | 9.6 m | 16.6 m | 26 m |

## Goodwill | 37.9 m | 44.9 m | 66.1 m | 72.2 m |

## Total Assets | 97.5 m | 117.3 m | 160.7 m | 171.7 m |

## Accounts Payable | 2 m | 2.5 m | 2.8 m | 2.2 m |

## Total Debt | 26.3 m | 45.3 m | 1.1 m | |

## Current Liabilities | 10.2 m | 14.7 m | 24 m | 16.6 m |

## Total Liabilities | 73.9 m | |||

## Retained Earnings | 48.6 m | 56 m | 64.8 m | 73.7 m |

## Total Equity | 84.7 m | 97.8 m | ||

## Debt to Equity Ratio | 0.5 x | 0 x | ||

## Debt to Assets Ratio | 0.2 x | 0.3 x | 0 x | |

## Financial Leverage | 1.9 x | 1.8 x |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 3.2 m | 3.7 m | 1.4 m | 2 m | 5.5 m | 3.3 m | 4.6 m | 5.1 m | 5.4 m |

## Accounts Receivable | 10.8 m | 11.8 m | 11.8 m | 11.2 m | 12.7 m | 13.3 m | |||

## Inventories | 10 m | 10.6 m | 12.6 m | 12.9 m | 13.4 m | 14.7 m | 14.1 m | 14.4 m | 14.6 m |

## Current Assets | 28.1 m | 30.8 m | 29.3 m | 29.3 m | 35 m | 34.2 m | 32.5 m | 34.3 m | 35 m |

## PP&E | 7.9 m | 8.2 m | 9.2 m | 11 m | 14.7 m | 15.7 m | 19.5 m | 22.1 m | 24.3 m |

## Goodwill | 42.3 m | 42.3 m | 44.1 m | 44.9 m | 65.4 m | 64 m | 69.2 m | 70.4 m | 71.9 m |

## Total Assets | 110.3 m | 112.1 m | 116.2 m | 117.2 m | 155.9 m | 155.1 m | 162.1 m | 166.3 m | 170.5 m |

## Accounts Payable | 2.1 m | 2.7 m | 2.8 m | 2.3 m | 3 m | 3.1 m | 2.8 m | 3.5 m | 2.9 m |

## Current Liabilities | 12.4 m | 13.3 m | 12.7 m | 13 m | 23.9 m | 20.9 m | 22.5 m | 21.8 m | 22 m |

## Retained Earnings | 49.9 m | 52.5 m | 54.3 m | 57.7 m | 58.9 m | 60.7 m | 66.2 m | 67.9 m | 70.6 m |

## Total Equity | 76.4 m | 78.9 m | 80.6 m | 87.7 m | 90.3 m | 93.7 m | |||

## Financial Leverage | 1.5 x | 2 x | 1.9 x | 1.8 x | 1.8 x | 1.8 x |

USD | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} | FY, 2017^{} |
---|---|---|---|---|

## Net Income | 9 m | 9.6 m | 11.2 m | 11.2 m |

## Depreciation and Amortization | 3.8 m | 5.7 m | 7.2 m | 8.7 m |

## Accounts Receivable | 697 k | (2.3 m) | (2 m) | 994 k |

## Accounts Payable | 754 k | 410 k | (150 k) | (655 k) |

## Cash From Operating Activities | 12.4 m | 10.8 m | 16.9 m | 7.8 m |

## Purchases of PP&E | (22.8 m) | (20.5 m) | (24.1 m) | (6.8 m) |

## Cash From Investing Activities | (23.1 m) | (23.4 m) | (31.8 m) | (18.4 m) |

## Cash From Financing Activities | 12.3 m | 9.1 m | 18.6 m | 10.7 m |

## Interest Paid | 133 k | 499 k | 848 k | 1.4 m |

## Income Taxes Paid | 4.7 m | 3.3 m | 4 m | 5.6 m |

USD | Q1, 2014^{} | Q2, 2014^{} | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 1.9 m | 3.1 m | 2.4 m | 2.3 m | 1.8 m | 2.4 m | 1.9 b | 2.4 b | 3.3 b |

## Accounts Receivable | 10.8 m | 11.8 m | 11.8 m | 11.2 m | 12.7 m | 13.3 m | |||

## Accounts Payable | 2.1 m | 2.7 m | 2.8 m | 2.3 m | 3 m | 3.1 m | 2.8 m | 3.5 m | 2.9 m |

USD | Y, 2017 |
---|---|

## EV/EBIT | 31.1 x |

## EV/CFO | 65.6 x |

## Revenue/Employee | 250.4 k |

## Financial Leverage | 1.8 x |

August 10, 2016

* Mesa Laboratories Inc says acquisition of certain assets
and liabilities of Rapid Aid Corp by co's subsidiary, Mesa
Canada, Inc