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IDEXX Laboratories IDXX

IDEXX Laboratories scores excellent on business quality (7.7 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$518.00Oct 9, 2026
Business qualityExcellent
Next earningsNov 2, 2026, before the open
Insiders, 90 daysSelling

Why it matters

  1. What IDEXX Laboratories does

    IDEXX Laboratories sells diagnostic systems and software to veterinary practices worldwide, generating revenue primarily from recurring consumable test kits and reference lab services. The company is expanding its software ecosystem through acquisitions like CoVetAI to further integrate into daily veterinary clinic workflows.

  2. What it does best

    IDEXX dominates veterinary diagnostics through an entrenched proprietary instrument installed base that drives recurring consumable sales. Its 62.4% gross margin comfortably beats peers like ISRG at 66.7% while locking clinics into a sticky ecosystem.

  3. The main risk

    Veterinary clinic consolidation and labor shortages threaten procedure volumes, directly pressuring the recurring test kit sales that anchor the business.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margins at 32.0% and an FCF margin in the 84th sector percentile prove elite pricing power. This business scales efficiently, squeezing more profit from every test kit shipped.

MoatStrong

An operating margin ranking in the 86th percentile of its sector highlights deep competitive advantages. High switching costs and proprietary analyzers lock in veterinary practices for years.

GrowthSteady

Revenue growth hit 10.4%, accelerating from previous years as clinic testing volumes recover and software integration deepens customer stickiness.

Financial healthStrong

Interest coverage of 38.6x makes debt servicing trivial while net debt sits at $668M. Free cash flow surged to $1.2B, showing a structurally strengthening balance sheet.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

1 sold $1.2M outside pre-planned sales.

Our sealed record on IDXX

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is IDXX a good business?

IDEXX Laboratories scores excellent on the Cluenex quality check (7.7 of 10), measured against its own industry. Profitability is strong, moat strong, growth steady and financial health strong.

Are insiders buying IDXX?

In the last 90 days of SEC Form 4 filings: 1 sold $1.2M outside pre-planned sales.

When does IDXX report earnings?

Nov 2, 2026, before the open.

For members

See IDXX today

  • Today's verdict on IDXX, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “IDEXX Laboratories (IDXX)”, https://cluenex.com/stocks/idxx/, data as of Oct 10, 2026.