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

Idexx Laboratories brought in $4.3B of revenue in fiscal 2025, QuidelOrtho $2.7B in fiscal 2025. Revenue changed by +10.4% at Idexx Laboratories and -1.9% at QuidelOrtho on the year before, so Idexx Laboratories grew faster. Idexx Laboratories kept 24.6% of its revenue as net profit, QuidelOrtho -41.5%. Free cash flow was $1.1B at Idexx Laboratories and -$83M at QuidelOrtho.

Side by side, latest fiscal year

IDXXQDEL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 28, 2025)
Revenue$4.3B$2.7B
Revenue growth+10.4%-1.9%
Net income$1.1B-$1.1B
Net margin24.6%-41.5%
Free cash flow$1.1B-$83M
Free cash flow margin24.6%-3.0%
Earnings per share (diluted)$13.08-$16.69
Cash$180.1M$169.8M
Debt$450M$2.7B
Price to earnings39.7n/a
Market value$40.9B$750.2M
Dividend yieldn/an/a
Rank by revenue in sector#67 of 523 · Health care#90 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: $4.3BQDEL FY2020: $1.7BQDEL FY2022: $1.7BQDEL FY2022: $3.3BQDEL FY2023: $3BQDEL FY2024: $2.8BQDEL FY2025: $2.7BFY18FY19FY20FY21FY22FY23FY24FY25
IDXX $4.3BQDEL $2.7B
Net income
IDXX FY2018: $377MIDXX FY2019: $427.7MIDXX FY2020: $581.8MIDXX FY2021: $744.8MIDXX FY2022: $679.1MIDXX FY2023: $845MIDXX FY2024: $887.9MIDXX FY2025: $1.1BQDEL FY2020: $810.3MQDEL FY2022: $704.2MQDEL FY2022: $548.7MQDEL FY2023: -$10.1MQDEL FY2024: -$2.1BQDEL FY2025: -$1.1BFY18FY19FY20FY21FY22FY23FY24FY25
IDXX $1.1BQDEL -$1.1B
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%QDEL FY2020: 48.8%QDEL FY2022: 41.5%QDEL FY2022: 16.8%QDEL FY2023: -0.3%QDEL FY2024: -73.7%QDEL FY2025: -41.5%FY18FY19FY20FY21FY22FY23FY24FY25
IDXX 24.6%QDEL -41.5%
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%QDEL FY2022: +2.2%QDEL FY2022: +92.3%QDEL FY2023: -8.2%QDEL FY2024: -7.2%QDEL FY2025: -1.9%FY19FY20FY21FY22FY23FY24FY25
IDXX +10.4%QDEL -1.9%
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: $1.1BQDEL FY2020: $564.8MQDEL FY2022: $513.1MQDEL FY2022: $744.4MQDEL FY2023: $70.9MQDEL FY2024: -$112.1MQDEL FY2025: -$83MFY18FY19FY20FY21FY22FY23FY24FY25
IDXX $1.1BQDEL -$83M

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

Questions about Idexx Laboratories and QuidelOrtho

Which is bigger by revenue, Idexx Laboratories or QuidelOrtho?

Idexx Laboratories is bigger by revenue: $4.3B in fiscal 2025, against $2.7B for QuidelOrtho in fiscal 2025.

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

Idexx Laboratories had a net margin of 24.6% in fiscal 2025; QuidelOrtho had -41.5% in fiscal 2025.

Which grew revenue faster, Idexx Laboratories or QuidelOrtho?

In their latest fiscal years revenue changed by +10.4% at Idexx Laboratories and -1.9% at QuidelOrtho.

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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