IDEXX Laboratories Inc (IDXX)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 3.97 | 3.87 | 3.94 | 3.80 | 3.87 | 3.65 | 3.56 | 3.54 | 3.71 | 3.84 | 4.11 | 4.50 | 4.93 | 5.00 | 5.20 | 5.21 | 5.41 | 5.05 | 4.62 | 5.03 |
| Receivables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Working capital turnover | 11.74 | 9.06 | 9.19 | 6.83 | 6.73 | 8.67 | 11.91 | 40.93 | — | — | — | 27.65 | 16.74 | 10.31 | 8.72 | 5.99 | 5.64 | 7.58 | 10.35 | — |
The inventory turnover ratio of IDEXX Laboratories Inc has shown a gradual decline from 5.03 in March 2020 to 3.97 in December 2024. This indicates that the company is taking longer to sell its inventory over the years, which may signal potential issues with inventory management or changing market demand.
The receivables turnover ratio is not available for analysis as the data is missing for all periods, indicating that there is no information on how quickly the company collects its accounts receivable.
Similarly, the payables turnover ratio data is also not provided, so no analysis can be made regarding how efficiently IDEXX Laboratories manages its accounts payable.
The working capital turnover ratio shows fluctuations over the periods, ranging from 5.64 in December 2020 to 40.93 in March 2023. A generally increasing trend is observed until March 2023, indicating that the company is generating more revenue relative to its working capital investment during those periods.
Overall, while the company shows some strengths in generating revenue relative to working capital, there are concerns regarding inventory management efficiency and lack of available data for accounts receivable and accounts payable turnover ratios, which are essential in assessing the company's overall effectiveness in managing its operating cycle.
Average number of days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 91.89 | 94.31 | 92.66 | 96.02 | 94.36 | 99.92 | 102.53 | 103.24 | 98.50 | 94.99 | 88.83 | 81.15 | 74.06 | 72.98 | 70.24 | 70.02 | 67.46 | 72.30 | 79.01 | 72.63 |
| Days of sales outstanding (DSO) | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Number of days of payables | days | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
IDEXX Laboratories Inc's Days of Inventory on Hand (DOH) has shown an increasing trend over the past few years, indicating that the company is holding inventory for a longer period before sale. The DOH increased from 72.63 days as of March 31, 2020, to 91.89 days as of December 31, 2024, with some fluctuations along the way. This suggests a possible inefficiency in managing inventory levels or slower inventory turnover.
The Days of Sales Outstanding (DSO) and Number of Days of Payables data are not available for analysis, as the values are not provided for any of the periods. Without this information, it is challenging to assess the company's accounts receivable collection period and payable period.
Overall, the increasing trend in Days of Inventory on Hand raises concerns about the company's inventory management efficiency and its impact on working capital. Monitoring and potentially optimizing inventory levels and turnover could help improve cash flow and profitability for IDEXX Laboratories Inc.
Long-term
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | — | — | — | — | — | — | 5.14 | 5.16 | 5.18 | 5.45 | 5.57 | 5.52 | 5.47 | 5.47 | 5.54 | 5.25 | 4.88 | 4.73 | 4.49 | 4.50 |
| Total asset turnover | 1.18 | 1.15 | 1.11 | 1.11 | 1.12 | 1.16 | 1.22 | 1.22 | 1.23 | 1.27 | 1.27 | 1.26 | 1.32 | 1.31 | 1.26 | 1.23 | 1.18 | 1.27 | 1.26 | 1.30 |
IDEXX Laboratories Inc's Fixed Asset Turnover ratio has exhibited a generally increasing trend over the years, indicating that the company has been more efficient in utilizing its fixed assets to generate sales. The ratio has improved from 4.50 in March 2020 to 5.18 in December 2022 before experiencing a slight decline to 5.14 in June 2023. This indicates that IDEXX Laboratories Inc has been able to generate $5.14 in revenue for every dollar invested in fixed assets as of June 30, 2023.
On the other hand, the Total Asset Turnover ratio, representing the efficiency of the company in generating sales from all its assets, including fixed and current assets, has shown fluctuations over the years. From March 2020 to December 2020, the ratio declined from 1.30 to 1.18, indicating a decrease in revenue generated per dollar of assets. Subsequently, the ratio improved to 1.32 by December 2021 before fluctuating within a range of 1.22 to 1.27 until December 2024.
These ratios suggest that IDEXX Laboratories Inc has been effectively utilizing its fixed assets to generate revenue, while the overall efficiency in generating sales from all assets has shown more variability. A high Fixed Asset Turnover ratio coupled with a stable Total Asset Turnover ratio may indicate effective asset management and operational efficiency within the company's long-term activity.