MLAB (Mesa Laboratories) Operating Income: $18.5 Mil (TTM As of Mar. 2026)

What is Mesa Laboratories Operating Income?

Mesa Laboratories MLAB +1.10% 77 Operating Income is $18.5 Mil as of Mar. 2026. GuruFocus rates MLAB with a GF Score™ of 77/100 and a GF Value™ of $116.15 (Fairly Valued). The stock has 8 warning signs investors should review.

Mesa Laboratories's Operating Income for the three months ended in Mar. 2026 was $2.7 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $18.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mesa Laboratories's Operating Income for the three months ended in Mar. 2026 was $2.7 Mil. Mesa Laboratories's Revenue for the three months ended in Mar. 2026 was $63.7 Mil. Therefore, Mesa Laboratories's Operating Margin % for the quarter that ended in Mar. 2026 was 4.31%.

Good Sign:

Mesa Laboratories Inc operating margin is expanding. Margin expansion is usually a good sign.

Mesa Laboratories's 5-Year average Growth Rate for Operating Margin % was 4.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mesa Laboratories's annualized ROC % for the quarter that ended in Mar. 2026 was 2.98%. Mesa Laboratories's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.67%.

Mesa Laboratories (NAS:MLAB) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Mesa Laboratories's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	10.992 * ( 1 - 0% )	/	( (375.084	+	362.956)	/ 2 )
=	10.992	/	369.02
=	2.98 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	434.849	-	30.79	-	( 28.975	-	max(0, 54.395	-	105.632	+	28.975	))
=	375.084

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	427.747	-	37.863	-	( 26.928	-	max(0, 61.898	-	106.268	+	26.928	))
=	362.956

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Mesa Laboratories's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4.012	/	( ( (31.599 + max(31.309, 0))	+	(30.613 + max(26.754, 0)) )	/	2 )
=	4.012	/	( ( 62.908	+	57.367 )	/	2 )
=	4.012	/	60.1375
=	6.67 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(40.233	+	26.559	+	9.865)	-	(30.79	+	14.558	+	0)
=	31.309

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(44.099	+	26.373	+	8.868)	-	(37.863	+	14.723	+	7.105427357601E-15)
=	26.754

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Mesa Laboratories's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	2.748	/	63.724
	=	4.31 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Mesa Laboratories Operating Income Related Terms

Mesa Laboratories Operating Income Historical Data

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The historical data trend for Mesa Laboratories's Operating Income can be seen below:

Mesa Laboratories Operating Income Chart

Mesa Laboratories Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Operating Income

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4.70

3.32

2.46

16.34

18.51

Mesa Laboratories Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															1.47	3.06	4.72	7.98	2.75

77GF Score

Mesa Laboratories Inc MLAB

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Mesa Laboratories Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $18.5 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $18.5 Mil mean?

Mesa Laboratories (MLAB) has a Operating Income of $18.5 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mesa Laboratories and its competitors.

Is Mesa Laboratories' Operating Income too high?

Mesa Laboratories' current Operating Income is $18.5 Mil. Overall, Mesa Laboratories has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Mesa Laboratories' Operating Income compare to AERG and USBC?

Mesa Laboratories' Operating Income of $18.5 Mil can be compared against companies in the Hardware industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Hardware company?

A good Operating Income depends on the Hardware industry context. However, Operating Income 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 Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mesa Laboratories and its competitors. Mesa Laboratories's current Operating Income is $18.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Mesa Laboratories stock overvalued right now?

Based on GuruFocus' analysis, Mesa Laboratories (MLAB) is currently considered Fairly Valued. The stock's GF Value™ is $116.15, compared to a current price of $105.39 — trading 9.3% below its estimated fair value. The current Operating Income is $18.5 Mil. Mesa Laboratories' overall GF Score™ is 77/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Mesa Laboratories (MLAB), the current Operating Income is $18.5 Mil 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 Mesa Laboratories (MLAB) Overvalued in 2026?

Based on GuruFocus' analysis, Mesa Laboratories stock appears to be undervalued. The current stock price of $105.39 is trading 9.3% below its estimated GF Value™ of $116.15. GuruFocus considers Mesa Laboratories to be Fairly Valued.

Key valuation signals for MLAB:

Operating Income: $18.5 Mil
GF Value™: $116.15 vs. price of $105.39 (9.3% below fair value)
GF Score™: 77/100 with 8 warning signs

No single metric tells the full story. See the MLAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Mesa Laboratories Business Description

Industry Technology Hardware

Comparable Companies AERG USBC MVIS SOTK ARBE GNSS ODYS WRAP MIND LGL TSE:6861 COHR KEYS GRMN TDY TPE:2360 MKSI OSTO:HEXA B FTV TRMB

Address 12100 West Sixth Avenue, Lakewood, CO, USA, 80228

Website https://www.mesalabs.com

Mesa Laboratories Inc manufactures life sciences tools and critical quality control solutions. It operates in four divisions: i) Sterilization and Disinfection Control, which manufactures and sells biological, chemical, and cleaning indicators used to assess the effectiveness of sterilization, decontamination, disinfection, and cleaning processes. ii) Clinical Genomics division develops, manufactures, and sells sensitive, low-cost, high-throughput genetic analysis tools and related consumables. iii) The Biopharmaceutical Development division develops, manufactures, and sells automated systems for protein analysis (immunoassays) and peptide synthesis solutions. iv) The Calibration Solutions division develops, manufactures, sells, and services quality control products.

77GF Score

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$105.39

Price

$116.15

GF Value

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