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Idexx Laboratories vs Neogen: revenue, profit, margins and growth compared

Idexx Laboratories brought in $4.3B of revenue in fiscal 2025, Neogen $870.4M in fiscal 2026. Revenue changed by +10.4% at Idexx Laboratories and -2.7% at Neogen on the year before, so Idexx Laboratories grew faster. Idexx Laboratories kept 24.6% of its revenue as net profit, Neogen -0.9%. Free cash flow was $1.1B at Idexx Laboratories and $31.9M at Neogen.

Side by side, latest fiscal year

IDXXNEOG
Fiscal year endedFY2025 (December 31, 2025)FY2026 (May 31, 2026)
Revenue$4.3B$870.4M
Revenue growth+10.4%-2.7%
Net income$1.1B-$7.9M
Net margin24.6%-0.9%
Free cash flow$1.1B$31.9M
Free cash flow margin24.6%3.7%
Earnings per share (diluted)$13.08-$0.04
Cash$180.1M$185.5M
Debt$450M$793.7M
Price to earnings39.7n/a
Market value$40.9B$3B
Dividend yieldn/an/a
Rank by revenue in sector#67 of 523 · Health care#156 of 523 · Health care

Over the years

Revenue
IDXX FY2018: $2.2BIDXX FY2019: $2.4BIDXX FY2020: $2.7BIDXX FY2021: $3.2BIDXX FY2022: $3.4BIDXX FY2023: $3.7BIDXX FY2024: $3.9BIDXX FY2025: $4.3BNEOG FY2019: $414.2MNEOG FY2020: $418.2MNEOG FY2021: $468.5MNEOG FY2022: $527.2MNEOG FY2023: $822.4MNEOG FY2024: $924.2MNEOG FY2025: $894.7MNEOG FY2026: $870.4MFY18FY19FY20FY21FY22FY23FY24FY25FY26
IDXX $4.3BNEOG $870.4M
Net income
IDXX FY2018: $377MIDXX FY2019: $427.7MIDXX FY2020: $581.8MIDXX FY2021: $744.8MIDXX FY2022: $679.1MIDXX FY2023: $845MIDXX FY2024: $887.9MIDXX FY2025: $1.1BNEOG FY2019: $60.2MNEOG FY2020: $59.5MNEOG FY2021: $60.9MNEOG FY2022: $48.3MNEOG FY2023: -$22.9MNEOG FY2024: -$9.4MNEOG FY2025: -$1.1BNEOG FY2026: -$7.9MFY18FY19FY20FY21FY22FY23FY24FY25FY26
IDXX $1.1BNEOG -$7.9M
Net margin
IDXX FY2018: 17.0%IDXX FY2019: 17.8%IDXX FY2020: 21.5%IDXX FY2021: 23.2%IDXX FY2022: 20.2%IDXX FY2023: 23.1%IDXX FY2024: 22.8%IDXX FY2025: 24.6%NEOG FY2019: 14.5%NEOG FY2020: 14.2%NEOG FY2021: 13.0%NEOG FY2022: 9.2%NEOG FY2023: -2.8%NEOG FY2024: -1.0%NEOG FY2025: -122.1%NEOG FY2026: -0.9%FY18FY19FY20FY21FY22FY23FY24FY25FY26
IDXX 24.6%NEOG -0.9%
Revenue growth
IDXX FY2019: +8.8%IDXX FY2020: +12.5%IDXX FY2021: +18.8%IDXX FY2022: +4.7%IDXX FY2023: +8.7%IDXX FY2024: +6.5%IDXX FY2025: +10.4%NEOG FY2020: +1.0%NEOG FY2021: +12.0%NEOG FY2022: +12.5%NEOG FY2023: +56.0%NEOG FY2024: +12.4%NEOG FY2025: -3.2%NEOG FY2026: -2.7%FY19FY20FY21FY22FY23FY24FY25FY26
IDXX +10.4%NEOG -2.7%
Free cash flow
IDXX FY2018: $284.3MIDXX FY2019: $304.2MIDXX FY2020: $541.1MIDXX FY2021: $636MIDXX FY2022: $394.1MIDXX FY2023: $772.9MIDXX FY2024: $808.1MIDXX FY2025: $1.1BNEOG FY2019: $49.2MNEOG FY2020: $61.8MNEOG FY2021: $54.4MNEOG FY2022: $43.6MNEOG FY2023: -$24.7MNEOG FY2024: -$76.1MNEOG FY2025: -$46.4MNEOG FY2026: $31.9MFY18FY19FY20FY21FY22FY23FY24FY25FY26
IDXX $1.1BNEOG $31.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Idexx Laboratories and Neogen

Which is bigger by revenue, Idexx Laboratories or Neogen?

Idexx Laboratories is bigger by revenue: $4.3B in fiscal 2025, against $870.4M for Neogen in fiscal 2026.

Which keeps more of its revenue as profit, Idexx Laboratories or Neogen?

Idexx Laboratories had a net margin of 24.6% in fiscal 2025; Neogen had -0.9% in fiscal 2026.

Which grew revenue faster, Idexx Laboratories or Neogen?

In their latest fiscal years revenue changed by +10.4% at Idexx Laboratories and -2.7% at Neogen.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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