IDEXX Laboratories (IDXX) FY2021 results: revenue $3.2 billion, up 18.8% on the year
IDEXX Laboratories Inc. (IDXX) reported revenue of $3.2 billion for fiscal 2021, the year ended 31 December 2021, up 18.8% on the year before. Net income was $745 million, up 28.0%, and diluted earnings per share $8.60. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.
Revenue
$3.2 billion
+18.8% on the year
FY2014FY2021
Operating margin
29.0%
25.7% a year earlier
FY2014FY2021
Net income
$745 million
+28.0% on the year
FY2014FY2021
Diluted EPS
$8.60
+28.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
756
648
459
+16.6%
Capital expenditure
120
107
155
+11.8%
Free cash flow
636
541
304
+17.5%
Free cash flow margin
19.8%
20.0%
12.6%
Cash from investing
-293
-109
-206
Cash from financing
-697
-248
-286
Depreciation and amortisation
105
96.0
88.0
+9.0%
Share-based compensation
37.8
31.0
39.3
+22.0%
Buybacks
747
183
302
+308.5%
Diluted shares, weighted
87m
87m
88m
-0.2%
Shares outstanding at period end
85m
85m
85m
-1.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
690
632
177
+9.2%
Non-controlling interest
0.0
0.7
0.4
Debt
924
909
699
+1.6%
Operating lease liabilities
87.4
77.0
67.5
+13.4%
Other liabilities
736
676
888
+9.0%
Total liabilities and equity
2,437
2,295
1,832
+6.2%
Fixed assets
588
555
534
+5.9%
Goodwill
359
243
240
+47.7%
Intangible assets
99.0
52.5
58.5
+88.5%
Cash and equivalents
144
384
90.3
-62.4%
Receivables
368
331
269
+11.1%
Inventory
269
210
195
+28.2%
Other assets
609
518
446
+17.6%
Total assets
2,437
2,295
1,832
+6.2%
10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.