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IDXX (IDEXX Laboratories) Gross Margin % : 61.70% (As of Jun. 2024)


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What is IDEXX Laboratories Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. IDEXX Laboratories's Gross Profit for the three months ended in Jun. 2024 was $619 Mil. IDEXX Laboratories's Revenue for the three months ended in Jun. 2024 was $1,004 Mil. Therefore, IDEXX Laboratories's Gross Margin % for the quarter that ended in Jun. 2024 was 61.70%.


The historical rank and industry rank for IDEXX Laboratories's Gross Margin % or its related term are showing as below:

IDXX' s Gross Margin % Range Over the Past 10 Years
Min: 54.93   Med: 56.42   Max: 60.41
Current: 60.41


During the past 13 years, the highest Gross Margin % of IDEXX Laboratories was 60.41%. The lowest was 54.93%. And the median was 56.42%.

IDXX's Gross Margin % is ranked better than
67.49% of 203 companies
in the Medical Diagnostics & Research industry
Industry Median: 47.88 vs IDXX: 60.41

IDEXX Laboratories had a gross margin of 61.70% for the quarter that ended in Jun. 2024 => Durable competitive advantage

The 5-Year average Growth Rate of Gross Margin for IDEXX Laboratories was 1.40% per year.


IDEXX Laboratories Gross Margin % Historical Data

The historical data trend for IDEXX Laboratories's Gross Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

IDEXX Laboratories Gross Margin % Chart

IDEXX Laboratories Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Gross Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 56.73 58.04 58.76 59.52 59.82

IDEXX Laboratories Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Gross Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 60.71 59.85 58.36 61.52 61.70

Competitive Comparison of IDEXX Laboratories's Gross Margin %

For the Diagnostics & Research subindustry, IDEXX Laboratories's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


IDEXX Laboratories's Gross Margin % Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, IDEXX Laboratories's Gross Margin % distribution charts can be found below:

* The bar in red indicates where IDEXX Laboratories's Gross Margin % falls into.



IDEXX Laboratories Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

IDEXX Laboratories's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )=Gross Profit (A: Dec. 2023 ) / Revenue (A: Dec. 2023 )
=2190 / 3660.953
=(Revenue - Cost of Goods Sold) / Revenue
=(3660.953 - 1470.983) / 3660.953
=59.82 %

IDEXX Laboratories's Gross Margin for the quarter that ended in Jun. 2024 is calculated as


Gross Margin % (Q: Jun. 2024 )=Gross Profit (Q: Jun. 2024 ) / Revenue (Q: Jun. 2024 )
=619.2 / 1003.578
=(Revenue - Cost of Goods Sold) / Revenue
=(1003.578 - 384.419) / 1003.578
=61.70 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.


IDEXX Laboratories  (NAS:IDXX) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

IDEXX Laboratories had a gross margin of 61.70% for the quarter that ended in Jun. 2024 => Durable competitive advantage


Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.


IDEXX Laboratories Gross Margin % Related Terms

Thank you for viewing the detailed overview of IDEXX Laboratories's Gross Margin % provided by GuruFocus.com. Please click on the following links to see related term pages.


IDEXX Laboratories Business Description

Address
One IDEXX Drive, Westbrook, ME, USA, 04092
Idexx Laboratories primarily develops, manufactures, and distributes diagnostic products, equipment, and services for pets and livestock. Its key product lines include single-use canine and feline test kits that veterinarians can employ in the office, benchtop chemistry and hematology analyzers for test-panel analysis on-site, reference lab services, and tests to detect and manage disease in livestock. The firm also offers vet practice management software and consulting services to animal hospitals. Idexx gets close to 35% of its revenue from outside the United States.
Executives
M Anne Szostak director C/O TUPPERWARE BRANDS CORP, 14901 S ORANGE BLOSSOM TR, ORLANDO FL 32837
Bruce L. Claflin director 7035 RIDGE ROAD, HANOVER MD 21076
James F Polewaczyk officer: Corporate Vice President IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Sophie V. Vandebroek director 6 OAK MEADOW ROAD, LINCOLN MA 01770
George Fennell officer: CORPORATE VICE PRESIDENT IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Brian P Mckeon director IDEXX LABORATORIES, ONE IDEXX DRIVE, WESTBROOK ME 04092
Jonathan Jay Mazelsky director, officer: President and CEO ONE IDEXX DRIVE, WESTBROOK ME 04092
Martin Alexander Smith officer: Executive Vice President C/O IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Jonathan W Ayers director, officer: President & CEO IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Michael Lane officer: Executive Vice President C/O IDEXX LABORATORIES, INC., WESTBROOK ME 04092
Irene Chang Britt director CAMPBELL SOUP COMPANY, ONE CAMPBELL PLACE, CAMDEN NJ 08103
Samer Abdul Samad director 5200 ILLUMINA WAY, SAN DIEGO CA 92122
Lawrence D Kingsley director C/O IDEX CORPORATION, 630 DUNDEE ROAD, NORTHBROOK IL 60062
Asha Collins director IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Stuart Essig director 311 C ENTERPRISE DRIVE, PLAINSBORO NJ 08536