IDEXX Laboratories Inc

IDXX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$251.00	Rhtz	Vvcrhbcd

Idexx Earnings: Solid Volume and Price Gains Propelled Robust Result

Debbie S. Wang

Feb 6, 2024

Narrow-moat Idexx Labs posted fourth-quarter and full-year results that were generally consistent with our top and bottom line estimates, and our projections for 2024 remain within the bounds of management’s outlook. Though we haven’t altered our modeling assumptions, we do expect to modestly raise our fair value estimate to reflect the cash flow realized since our last update. Nevertheless, shares remain overvalued from our perspective.

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