Aureus
AExcellent

IDEXX Laboratories, Inc.(IDXX)

A

Financial data as of Dec 31, 2025Improving · Healthcare

FCF Margin22.9%Free Cash Flow / Revenue
Cash Conversion111.5%Operating CF / Net Income
Free Cash Flow$1.0B
Revenue$4.3B
Net Cash-$796.0MNet debt position
Debt / FCF1.0xManageable debt load
Current Ratio1.23Adequate short-term liquidity
YoY FCF Growth+48.7%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (22.9%, 1.0x)
→
+1Strong YoY FCF growth (48.7% YoY)
→
+1Very low debt-to-FCF ratio (1.0x)
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (22.9%)
  • Excellent cash conversion (112%)
  • Very low debt relative to cash flow (1.0x)
  • Strong YoY FCF growth (+48.7%)

Concerns

  • Net debt position ($0.8B) — 1.0x FCF, manageable

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin22.9%
Net Margin24.6%
Operating CF Margin27.5%
CapEx Ratio3.2%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$796.0MNet debt position
Debt / FCF1.0xManageable debt load
Current Ratio1.23Adequate liquidity
Debt / Equity0.61Low leverage

Quarterly FCF Trend

+48.7% YoYImproving (+48.7%)

Free cash flow per quarter

Sector Comparison — Healthcare

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameIDEXX Laboratories, Inc.
SectorHealthcare
Free Cash Flow$1.0B
Revenue$4.3B
Net Income$1.1B
Operating Cash Flow$1.2B
Capital Expenditure$138.2M
FCF Margin22.9%
Cash Conversion Rate111.5%
Net Margin24.6%
Total Debt$976.1M
Total Cash$180.1M
Net Cash-$796.0M
Current Ratio1.23
Debt / Equity0.61
Debt / FCF1.0x
YoY FCF Growth+48.7%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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