IDEXX LABORATORIES INC DE（IDXX）の決算・業績分析
IDEXX LABORATORIES INC DEの2025年有価証券報告書をAI分析。売上高$4.3B(+10.4%)。営業利益$1.4B。Health Care。
目次
IDEXX LABORATORIES INC DEの2025年度 業績サマリー
IDEXX LABORATORIES INC DE（証券コード: IDXX）の2025年度決算・業績分析。売上高は$4.3B（前年比+10.4%）。営業利益は$1.4B（前年比+20.5%）。純利益は$1.1B（前年比+19.3%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
IDEXX LABORATORIES INC DEの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 4.7% YoY to $3.4B (XBRL), but operating income fell 3.6% to $899M (XBRL) and net income dropped 8.8% to $679M (XBRL).
- ROE reached 98.4% (XBRL), driven by strong net income and low equity ($690M, XBRL).
- Share repurchases totaled $820M (XBRL), reflecting significant shareholder returns despite declining net income.
IDEXX LABORATORIES INC DEの売上高変化の要因
- •Total revenue grew to $3.4B (XBRL), up 4.7% YoY. Historical growth shows a 5-year CAGR of 10.6% (XBRL), with revenue increasing from $2.2B (FY2020) to $3.4B (FY2024). Growth drivers include increased diagnostic service utilization, new customer acquisitions, and price increases (10-K). Segment-specific revenue data is not disclosed (N/A).
IDEXX LABORATORIES INC DEの営業利益変化の要因
- •Gross profit was $2.0B (XBRL) with a 59.5% margin (XBRL), reflecting recurring revenue (e.g., consumables) outperforming non-recurring instrument sales (10-K). Operating income declined 3.6% YoY to $899M (XBRL), with a 26.7% margin (XBRL). Net income fell 8.8% YoY to $679M (XBRL), with a 20.2% net margin (XBRL). ROA is 20.8% (XBRL), and ROIC is 24.2% (XBRL).
IDEXX LABORATORIES INC DEの事業リスクと対応
High competition in the companion animal healthcare industry could harm growth and profitability if strategies fail (10-K).
Reliance on third-party suppliers may disrupt product delivery or cloud services (10-K).
Failure to innovate with new diagnostic tests or AI could reduce differentiation from competitors (10-K).
Maintaining premium pricing amid competitive pressure requires effective value communication (10-K).
Global expansion and integration of acquisitions demand efficient process improvements to manage growth (10-K).
IDEXX LABORATORIES INC DEの今後の見通し・業績予想
IDEXX LABORATORIES INC DEの事業内容
IDEXX develops and distributes diagnostic products and services for veterinary, livestock, water testing, and human medical industries (10-K). Key segments include the Companion Animal Group (diagnostic instruments, consumables, lab services, software), Water (microbiological testing), and Livestock, Poultry, and Dairy (health monitoring solutions). The company leverages proprietary AI in diagnostic analyzers (e.g., SediVue Dx) and a broad product portfolio as competitive advantages (10-K). R&D expense was $255M (XBRL) in FY2024.
IDEXX LABORATORIES INC DEのAI業績分析レポート（2024年度）
IDEXX Laboratories Inc. (IDXX) FY2024 Annual Report Analysis
Highlights
Business Overview
IDEXX develops and distributes diagnostic products and services for veterinary, livestock, water testing, and human medical industries (10-K). Key segments include the Companion Animal Group (diagnostic instruments, consumables, lab services, software), Water (microbiological testing), and Livestock, Poultry, and Dairy (health monitoring solutions). The company leverages proprietary AI in diagnostic analyzers (e.g., SediVue Dx) and a broad product portfolio as competitive advantages (10-K). R&D expense was $255M (XBRL) in FY2024.
Revenue Analysis
Total revenue grew to $3.4B (XBRL), up 4.7% YoY. Historical growth shows a 5-year CAGR of 10.6% (XBRL), with revenue increasing from $2.2B (FY2020) to $3.4B (FY2024). Growth drivers include increased diagnostic service utilization, new customer acquisitions, and price increases (10-K). Segment-specific revenue data is not disclosed (N/A).
Profitability Analysis
Gross profit was $2.0B (XBRL) with a 59.5% margin (XBRL), reflecting recurring revenue (e.g., consumables) outperforming non-recurring instrument sales (10-K). Operating income declined 3.6% YoY to $899M (XBRL), with a 26.7% margin (XBRL). Net income fell 8.8% YoY to $679M (XBRL), with a 20.2% net margin (XBRL). ROA is 20.8% (XBRL), and ROIC is 24.2% (XBRL).
Balance Sheet Analysis
Total assets grew to $3.3B (XBRL), with total equity at $690M (XBRL). The equity ratio is 21.2% (XBRL), and D/E ratio is 2.57x (XBRL). Cash reserves are $454M (XBRL), and net debt is $169M (XBRL), or 0.2x EBITDA (XBRL). Current ratio is 1.57x (XBRL).
Cash Flow Analysis
Operating cash flow was $543M (XBRL), with free cash flow of $394M (XBRL) after $149M in CapEx (XBRL). Investing cash flow was -$195M (XBRL), and financing cash flow was -$371M (XBRL), driven by $820M in share repurchases (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 122 days (XBRL), with receivables days at 50 days (XBRL), inventory days at 102 days (XBRL), and payables days at 30 days (XBRL).
Risks
Outlook
Management highlights growth in the Companion Animal Group through customer retention and new product adoption (10-K). No specific financial guidance or quantified forward-looking trends are disclosed (N/A).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 2.2B | 2.4B | 2.7B | 3.2B | 3.4B | 3.7B |
| Operating Income | 491M | 553M | 695M | 932M | 899M | 1.1B |
| Net Income | 377M | 428M | 582M | 745M | 679M | 845M |
| Total Assets | 1.8B | 2.3B | 2.4B | 2.7B | 3.3B | 3.3B |
| Total Equity | 177M | 632M | 690M | 609M | 690M | 609M |
| Operating Cash Flow | 400M | 459M | 648M | 756M | 543M | 907M |
Health Careの企業一覧
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