Is IDEXX Laboratories, Inc. overvalued or undervalued?

As of 8 August 2025, the valuation grade for IDEXX Laboratories, Inc. moved from expensive to fair. The company is currently fairly valued based on its valuation metrics. Key ratios include a P/E ratio of 60, an EV to EBITDA of 42.53, and a PEG ratio of 11.32. In comparison, Abbott Laboratories has a P/E of 18.36, while Thermo Fisher Scientific, Inc. has a P/E of 30.06, indicating that IDEXX is trading at a premium relative to these peers.
IDEXX has demonstrated strong performance, with a year-to-date return of 58.55%, significantly outperforming the S&P 500's return of 12.22% over the same period. This performance suggests that the market may be recognizing the company's value despite its high valuation ratios.