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Held by 1,234 of 5,944 reporting institutions (99th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $506.48 today, the market must believe free cash flow compounds 19.1%/yr for a decade (off $879M normalized FCF).
The market's 19.1% is more optimistic than its 8-yr track record.
2-stage DCF · 0.08B shares · net debt $270M
mean 23.9% · volatility σ 44% · implied rate exceeded in 3/8 yrs
Central path = implied 19.1%/yr growth; shaded band = ±1σ (44%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.30B 100.0% | $3.90B 100.0% | $3.66B 100.0% | $3.37B 100.0% | $3.22B 100.0% | $2.71B 100.0% | $2.41B 100.0% | $2.21B 100.0% | $1.97B 100.0% | $1.78B 100.0% |
| Cost of Revenue | $1.64B 38.2% | $1.52B 39.0% | $1.47B 40.2% | $1.36B 40.5% | $1.33B 41.2% | $1.14B 42.0% | $1.04B 43.3% | $971.7M 43.9% | $871.7M 44.3% | $800.0M 45.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $446.4M 22.7% | $416.8M 23.5% |
| Cost of Services | — | — | — | — | — | — | — | — | $425.2M 21.6% | $383.2M 21.6% |
| Gross Profit | $2.66B 61.8% | $2.38B 61.0% | $2.19B 59.8% | $2.00B 59.5% | $1.89B 58.8% | $1.57B 58.0% | $1.37B 56.7% | $1.24B 56.1% | $1.10B 55.7% | $975.4M 54.9% |
| Research & Development | $251.2M 5.8% | $219.8M 5.6% | $191.0M 5.2% | $254.8M 7.6% | $161.0M 5.0% | $141.2M 5.2% | $133.2M 5.5% | $117.9M 5.3% | $109.2M 5.5% | $101.1M 5.7% |
| Selling, General & Admin | $404.8M 9.4% | $442.3M 11.3% | $335.8M 9.2% | $326.2M 9.7% | $309.7M 9.6% | $300.8M 11.1% | $261.3M 10.9% | $244.9M 11.1% | $220.9M 11.2% | $207.0M 11.7% |
| Total Operating Expenses | $1.30B 30.2% | $1.25B 32.1% | $1.09B 29.9% | $1.11B 32.8% | — | — | — | $750.2M 33.9% | — | — |
| Operating Income | $1.36B 31.6% | $1.13B 29.0% | $1.10B 30.0% | $898.8M 26.7% | $932.0M 29.0% | $694.5M 25.7% | $552.8M 23.0% | $491.3M 22.2% | $413.0M 21.0% | $350.2M 19.7% |
| Interest Expense | $38.9M 0.9% | $31.2M 0.8% | $41.6M 1.1% | $39.9M 1.2% | $29.8M 0.9% | $33.1M 1.2% | $31.1M 1.3% | $34.7M 1.6% | $37.2M 1.9% | $32.0M 1.8% |
| Pretax Income | $1.32B 30.8% | $1.11B 28.5% | $1.06B 29.0% | $860.0M 25.5% | $902.7M 28.1% | $662.0M 24.5% | $522.2M 21.7% | $457.7M 20.7% | $381.1M 19.4% | $321.8M 18.1% |
| Income Tax Expense | $264.7M 6.2% | $222.0M 5.7% | $216.1M 5.9% | $180.9M 5.4% | $157.8M 4.9% | $79.9M 3.0% | $94.4M 3.9% | $80.7M 3.6% | $117.8M 6.0% | $99.8M 5.6% |
| Net Income | $1.06B 24.6% | $887.9M 22.8% | $845.0M 23.1% | $679.1M 20.2% | $744.8M 23.2% | $581.8M 21.5% | $427.7M 17.8% | $377.0M 17.0% | $263.1M 13.4% | $222.0M 12.5% |
| Per Share | ||||||||||
| EPS (Basic) | $13.17 | $10.77 | $10.17 | $8.12 | $8.74 | $6.82 | $4.97 | $4.34 | $3.00 | $2.47 |
| EPS (Diluted) | $13.08 | $10.67 | $10.06 | $8.03 | $8.60 | $6.71 | $4.89 | $4.26 | $2.94 | $2.44 |
| Weighted Avg Shares (Basic) | 80.4M | 82.5M | 83.1M | 83.6M | 85.2M | 85.3M | 86.1M | 86.9M | 87.8M | 89.7M |
| Weighted Avg Shares (Diluted) | 81.0M | 83.2M | 84.0M | 84.6M | 86.6M | 86.7M | 87.5M | 88.5M | 89.6M | 90.9M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $1.2B buybacks = $1.2B returned on $1.1B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 52%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $180M covers the $168M due within a year 1.1× over. Scheduled principal only (excludes interest & revolver draws). As of 2024-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~8.6% on $450M of debt.
Cash of $180M fully covers short-term debt of $75M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $643.4B | 24.2× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $183.3B | 21.8× | 20.0× | 6.2× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $135.8B | 48.6× | 37.3× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.7B | 15.2× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| IDXX | $40.9B | 39.3× | 27.4× | 9.5× | 10.4% | 61.8% | 24.6% | 66.0% | 51.5% | 0.3× | 1,234 |
Peers = companies sharing IDXX's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
Nothing notable to watch.
No material risks flagged.
Where each multiple sits in its own 14-yr range · 38th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 2.0× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 43.9 | 43.3 | 42.0 | 41.2 | 40.5 | 40.2 | 39.0 | 38.2 |
| Gross Profit | 56.1 | 56.7 | 58.0 | 58.8 | 59.5 | 59.8 | 61.0 | 61.8 |
| R&D | 5.3 | 5.5 | 5.2 | 5.0 | 7.6 | 5.2 | 5.6 | 5.8 |
| SG&A | 11.1 | 10.9 | 11.1 | 9.6 | 9.7 | 9.2 | 11.3 | 9.4 |
| Operating Income | 22.2 | 23.0 | 25.7 | 29.0 | 26.7 | 30.0 | 29.0 | 31.6 |
| Income Tax | 3.6 | 3.9 | 3.0 | 4.9 | 5.4 | 5.9 | 5.7 | 6.2 |
| Net Income | 17.0 | 17.8 | 21.5 | 23.2 | 20.2 | 23.1 | 22.8 | 24.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on IDXX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.