IDEXX Laboratories Inc

IDXX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$595.00	Cld	Cqvgzcxhw

As Top Dog in Pet Diagnostics, Idexx Has Dug a Wide Moat

Debbie S. Wang

Sep 19, 2024

Business Strategy and Outlook

Idexx Laboratories has steadily increased its scale and reach in the veterinary diagnostic lab business to dig a wide moat. It is well-positioned to benefit from two key trends. First, pet ownership continues to grow, offering a secular tailwind since the late 1980s. Moreover, pet owners have demonstrated greater willingness to spend more on their animals, having more than tripled spending on pet products and services since 1994.

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