IDEXX Laboratories
Financial Performance
IDEXX Laboratories Revenue & Financials
Revenue
$3.8B (FY2024)
Market Cap
$38.5B
Employees
11,000
What is IDEXX Laboratories's revenue?
IDEXX Laboratories had $3.8B in revenue for fiscal year 2024, up 4.6% from 2023.
- Latest revenue
- $3.8B (FY2024)
- Year-over-year
- +4.6%
- Growth rate (CAGR)
- 6% over 3 years
- Peak revenue
- $3.8B (FY2024)
- Years of data
- 4
- Employees
- 11,000
- How many employees does IDEXX Laboratories have?
- IDEXX Laboratories has about 11,000 employees.
Financial Analysis
IDEXX delivers elite financial performance characterized by durable high-single-digit organic revenue growth, expanding operating profit margins, and exceptional return on invested capital (ROIC) exceeding 40%. In fiscal 2024, IDEXX generated revenue of $3.83 billion, up 6% organically, supported by resilient companion animal diagnostics recurring revenue growth despite temporary post-pandemic normalization in vet clinic visit volumes. Gross margin stood at an outstanding 60.5%, while operating margin reached an elite 31.2%. Free cash flow totaled $820 million, converting over 95% of net income into cash. IDEXX maintains a conservative balance sheet with a net debt-to-EBITDA ratio of 1.1x, directing surplus cash flow toward continuous share repurchases, retiring over 20% of its share count over the past decade.
Revenue Trend Analysis
YoY Change
+4.6%
3-Year CAGR
+6%
Peak Year
2024
Trend
Consistent Growth
IDEXX Laboratories has 4 full fiscal year figures on this page, compounding at +6% annually over 3 years. The most recent year saw a 4.6% increase versus the prior year. Annual revenue peaked in fiscal year 2024 at $3.8B. Of 3 comparable year-over-year steps, 3 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | YoY Change |
|---|---|---|
| FY2024 | $3.8B | +4.6% |
| FY2023 | $3.7B | +8.7% |
| FY2022 | $3.4B | +4.7% |
| FY2021 | $3.2B | — |
Click any row to see year details.
Keep researching IDEXX Laboratories
IDEXX Laboratories Revenue and Financial FAQ
What was IDEXX Laboratories's revenue in 2024?
IDEXX Laboratories achieved $3.83 billion in revenue for fiscal year 2024.
Is IDEXX Laboratories profitable?
IDEXX Laboratories's financial performance balances disciplined operating profitability with strategic reinvestment into engineering, infrastructure, and international sales expansion.
How fast is IDEXX Laboratories growing?
IDEXX Laboratories has achieved solid compound annual revenue growth supported by strong enterprise customer retention and expanding average contract values.
How does IDEXX Laboratories fund its capital expenditures?
IDEXX Laboratories funds capital outlays through operating cash flows, institutional credit facilities, and equity capital reserves.
What is IDEXX Laboratories's debt profile?
IDEXX Laboratories maintains a conservative debt-to-capitalization profile, prioritizing financial flexibility and low interest obligations.
Where does IDEXX Laboratories reinvest its profits?
Profits are primarily reinvested into core research and development, cloud infrastructure capacity, and international market sales teams.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "IDEXX Laboratories Revenue & Financials." CorpDigest, https://corpdigest.com/company/idexx-laboratories/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>IDEXX Laboratories reported $3.8B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/idexx-laboratories/financials" target="_blank" rel="noopener">CorpDigest — IDEXX Laboratories financials</a></div>Explore IDEXX Laboratories
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