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IDEXX LaboratoriesFRA:IX1 +2.36%98 Graham Number is €53.66 as of Mar. 2026, which is 100% below its 10-year median of 12.37. GuruFocus rates FRA:IX1 with a GF Score™ of 98/100 and a GF Value™ of €553.22 (Modestly Undervalued). Among 71 Medical Diagnostics & Research companies, IDEXX Laboratories ranks worse than 94.37% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-20), the stock price of IDEXX Laboratories is €495.40. IDEXX Laboratories's graham number for the quarter that ended in Mar. 2026 was €53.66. Therefore, IDEXX Laboratories's Price to Graham Number ratio for today is 9.23.
The historical rank and industry rank for IDEXX Laboratories's Graham Number or its related term are showing as below:
FRA:IX1'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 7.15 Med: 12.37 Max: 254.15
Current: 9.12
During the past 13 years, the highest Price to Graham Number ratio of IDEXX Laboratories was 254.15. The lowest was 7.15. And the median was 12.37.
FRA:IX1's Price-to-Graham-Number is ranked worse than 94.37% of 71
companies
in the Medical Diagnostics & Research industry
Industry Median: 2.58
vs FRA:IX1: 9.12
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
IDEXX Laboratories (FRA:IX1) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
IDEXX Laboratories's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
495.40
/
53.66
=
9.23
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
IDEXX Laboratories Graham Number Related Terms
IDEXX Laboratories Graham Number Historical Data
* Premium members only.
The historical data trend for IDEXX Laboratories's Graham Number 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.
For the Diagnostics & Research subindustry, IDEXX Laboratories's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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 Price-to-Graham-Number vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, IDEXX Laboratories's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where IDEXX Laboratories's Price-to-Graham-Number falls into.
* 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.
IDEXX Laboratories (FRA:IX1) has a Graham Number of €53.66 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on IDEXX Laboratories and its competitors. This is 334% above median its historical median of 12.37. Over the past decade, IDEXX Laboratories' Graham Number has ranged from 7.15 to 254.15. According to the industry distribution chart, IDEXX Laboratories ranks #67 out of 71 companies in the Medical Diagnostics & Research industry, placing it in the top 94.4%.
Is IDEXX Laboratories' Graham Number too high?
IDEXX Laboratories' current Graham Number of €53.66 is 334% above median its 10-year median of 12.37. Over the past 10 years, this metric has ranged from a low of 7.15 to a high of 254.15. Based on the distribution chart, IDEXX Laboratories ranks #67 out of 71 companies in the Medical Diagnostics & Research industry, which is in the bottom quartile relative to peers. Overall, IDEXX Laboratories has a GF Score™ of 98/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does IDEXX Laboratories' Graham Number compare to A and NTRA?
According to the Medical Diagnostics & Research industry distribution chart, IDEXX Laboratories ranks #67 out of 71 companies for Graham Number. This places IDEXX Laboratories in the lower half of its industry. The industry median Graham Number is 2.58. Historically, IDEXX Laboratories' own Graham Number has ranged from 7.15 to 254.15 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Medical Diagnostics & Research company?
The median Graham Number among Medical Diagnostics & Research companies is 2.58, based on 71 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on IDEXX Laboratories and its competitors. For the Medical Diagnostics & Research industry, the median Graham Number is 2.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IDEXX Laboratories's current Graham Number is €53.66, which is 334% above median its own 10-year median of 12.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IDEXX Laboratories stock overvalued right now?
Based on GuruFocus' analysis, IDEXX Laboratories (FRA:IX1) is currently considered Modestly Undervalued. The stock's GF Value™ is €553.22, compared to a current price of €495.40 — trading 10.5% below its estimated fair value. The current Graham Number is €53.66, which is 334% above median its 10-year median of 12.37. IDEXX Laboratories' overall GF Score™ is 98/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For IDEXX Laboratories (FRA:IX1), the current Graham Number is €53.66 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is IDEXX Laboratories (FRA:IX1) Overvalued in 2026?
Based on GuruFocus' analysis, IDEXX Laboratories stock appears to be undervalued.
The current stock price of €495.40 is trading 10.5% below its estimated GF Value™ of €553.22.
GuruFocus considers IDEXX Laboratories to be Modestly Undervalued.
Key valuation signals for FRA:IX1:
Graham Number: €53.66 (334% above median its 10-year median of 12.37)
GF Value™: €553.22 vs. price of €495.40 (10.5% below fair value)
No single metric tells the full story. See the FRA:IX1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 derives roughly 35% of its revenue from outside the United States.
98GF Score
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