IDEXX Laboratories (IDEXX Laboratories) Interest Coverage

: 26.48 (As of Dec. 2023)

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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. IDEXX Laboratories's Operating Income for the three months ended in Dec. 2023 was $245 Mil. IDEXX Laboratories's Interest Expense for the three months ended in Dec. 2023 was $-9 Mil. IDEXX Laboratories's interest coverage for the quarter that ended in Dec. 2023 was 26.48. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for IDEXX Laboratories's Interest Coverage or its related term are showing as below:

IDXX' s Interest Coverage Range Over the Past 10 Years
Min: 10.54 Med: 17.34 Max: 31.27
Current: 26.39

IDXX's Interest Coverage is ranked better than
62.26% of 106 companies
in the Medical Diagnostics & Research industry
Industry Median: 12.375 vs IDXX: 26.39

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

IDEXX Laboratories Interest Coverage Historical Data

The historical data trend for IDEXX Laboratories's Interest Coverage 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.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

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IDEXX Laboratories Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Coverage

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17.80

20.97

31.27

22.55

26.39

IDEXX Laboratories Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Coverage	Get a 7-Day Free Trial															16.72	21.36	28.09	31.84	26.48

Competitive Comparison

For the Diagnostics & Research subindustry, IDEXX Laboratories's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage Distribution

For the Medical Diagnostics & Research industry and Healthcare sector, IDEXX Laboratories's Interest Coverage distribution charts can be found below:

* The bar in red indicates where IDEXX Laboratories's Interest Coverage falls into.

IDEXX Laboratories Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage

-1

Operating Income

Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt ⁽¹⁾.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

IDEXX Laboratories's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, IDEXX Laboratories's Interest Expense was $-42 Mil. Its Operating Income was $1,097 Mil. And its Long-Term Debt & Capital Lease Obligation was $723 Mil.

Interest Coverage	=	-1	*	Operating Income (A: Dec. 2023 )	/	Interest Expense (A: Dec. 2023 )
	=	-1	*	1097.128	/	-41.581
	=	26.39

IDEXX Laboratories's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, IDEXX Laboratories's Interest Expense was $-9 Mil. Its Operating Income was $245 Mil. And its Long-Term Debt & Capital Lease Obligation was $723 Mil.

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	245.302	/	-9.265
	=	26.48

The higher the ratio, the stronger the company's Financial Strength is.

IDEXX Laboratories (NAS:IDXX) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .

IDEXX Laboratories Interest Coverage Related Terms

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IDEXX Laboratories (IDEXX Laboratories) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » IDEXX Laboratories Inc (NAS:IDXX) » Definitions » Interest Coverage

Comparable Companies

Traded in Other Exchanges

IDXX:Mexico IX1:Germany I1DX34:Brazil IDXX:Austria

Address

One IDEXX Drive, Westbrook, ME, USA, 04092

Website

https://www.idexx.com

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 gets close to 40% of its revenue from outside the United States.

Executives

James F Polewaczyk	officer: Corporate Vice President	IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Jonathan Jay Mazelsky	director, officer: President and CEO	ONE IDEXX DRIVE, WESTBROOK ME 04092
Martin Alexander Smith	officer: Executive Vice President	C/O IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Jonathan W Ayers	director, officer: President & CEO	IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
Michael Lane	officer: Executive Vice President	C/O IDEXX LABORATORIES, INC., WESTBROOK ME 04092
Irene Chang Britt	director	CAMPBELL SOUP COMPANY, ONE CAMPBELL PLACE, CAMDEN NJ 08103
Bruce L. Claflin	director	7035 RIDGE ROAD, HANOVER MD 21076
Samer Abdul Samad	director	5200 ILLUMINA WAY, SAN DIEGO CA 92122
Stuart Essig	director	311 C ENTERPRISE DRIVE, PLAINSBORO NJ 08536
Lawrence D Kingsley	director	C/O IDEX CORPORATION, 630 DUNDEE ROAD, NORTHBROOK IL 60062
Asha Collins	director	IDEXX LABORATORIES, INC., ONE IDEXX DRIVE, WESTBROOK ME 04092
M Anne Szostak	director	C/O TUPPERWARE BRANDS CORP, 14901 S ORANGE BLOSSOM TR, ORLANDO FL 32837
Sharon E. Underberg	officer: EVP, GC & Corporate Secretary	EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650
Sophie V. Vandebroek	director	6 OAK MEADOW ROAD, LINCOLN MA 01770
Daniel M Junius	director	C/O IMMUNOGEN, INC., 830 WINTER STREET, WALTHAM MA 02451