TacticScaleWhat IDEXX Laboratories Does & How It Makes Money (IDXX)
Updated October 2026 · reflects IDEXX Laboratories's latest reported financials
Diagnostic tests, analyzers, and software for veterinarians and water testing. It places in-clinic analyzers and sells the recurring test kits and consumables they use.
How IDEXX Laboratories makes money
It places in-clinic analyzers and sells the recurring test kits and consumables they use. It also earns revenue from reference lab testing fees, veterinary software and cloud services, consulting, and water and livestock testing products sold directly and through distributors.
What IDEXX Laboratories does
IDEXX Laboratories develops, manufactures, and distributes diagnostic products and services, mainly for the companion animal veterinary market. It reports three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy. For vet clinics it offers in-house analyzers covering chemistry, hematology, immunoassay, urinalysis, cytology, and coagulation, plus SNAP rapid test kits. It also runs commercial reference labs, provides specialist consulting in areas such as radiology and cardiology, and sells practice software and the cloud-based VetConnect PLUS. Outside pet care, IDEXX sells water tests such as Colilert, Colisure, Enterolert, and Legiolert that detect coliforms, E. coli, and other bacteria. It also sells diagnostics for livestock and poultry health, along with some human medical diagnostic products. It sells through its own sales and service teams and through independent distributors. The company was incorporated in 1983 and is headquartered in Westbrook, Maine.
Products & services
- SNAP rapid assay test kits
- In-clinic chemistry and hematology analyzers (VetLab Station)
- Reference laboratory diagnostic services
- VetConnect PLUS
- Colilert water tests
- Veterinary practice software
What is IDEXX Laboratories worth?
On an owner-earnings DCF, IDEXX Laboratories's most-likely value is about $512 versus a recent price near $518 (1% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$178) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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