Is IDEXX Laboratories, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for IDEXX Laboratories, Inc. has moved from expensive to fair. The company appears fairly valued based on its current metrics. Key ratios include a P/E ratio of 60, an EV to EBITDA of 42.53, and a PEG ratio of 11.32, which suggest a premium valuation compared to its peers. For instance, Abbott Laboratories has a P/E of 18.36, and Thermo Fisher Scientific, Inc. has an EV to EBITDA of 21.65, indicating that IDEXX is trading at a higher valuation relative to these competitors.
In terms of performance, IDEXX has outperformed the S&P 500 with a year-to-date return of 53.69% compared to the index's 13.30%. This strong performance, coupled with the fair valuation grade, suggests that while IDEXX is not undervalued, it is positioned well within its industry.