IDXX — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($635.54)
DCF	$357.97	-43.7%
Graham Number	$76.90	-87.9%
Reverse DCF	—	implied g: 28.0%
DDM	—	—
EV/EBITDA	$636.70	+0.2%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $790.74M

Near-term growth (yrs 1–5)(%)Rev: 14.3% / EPS: 17.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 13.37%

Computed WACC: 13.37%

Cost of equity (Re)13.63%(Rf 4.30% + β 1.70 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)98.11%

Debt weight (D/V)1.89%

Results

Intrinsic Value / share$192.71

Current Price$635.54

Upside / Downside-69.7%

Net Debt (used)$796.44M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	9.9%	13.9%	17.9%	21.9%	25.9%
7.0%	$386.04	$459.31	$543.31	$639.21	$748.23
8.0%	$308.38	$366.52	$433.13	$509.11	$595.44
9.0%	$254.92	$302.68	$357.34	$419.65	$490.40
10.0%	$215.97	$256.18	$302.16	$354.53	$413.96
11.0%	$186.38	$220.87	$260.28	$305.14	$355.99

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $13.05

Book Value / share($)Yahoo: $20.14

Results

Graham Number$76.90

Current Price$635.54

Margin of Safety-87.9%

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 13.37%

Terminal growth rate(%)

Computed WACC: 13.37%

Cost of equity (Re)13.63%(Rf 4.30% + β 1.70 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)98.11%

Debt weight (D/V)1.89%

Results

Current Price$635.54

Implied Near-term FCF Growth40.7%

Historical Revenue Growth14.3%

Historical Earnings Growth17.9%

Base FCF (TTM)$790.74M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$635.54

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.51B

Target EV/EBITDA multipleCurrent: 34.2×

Net Debt($B)Default: $796.44M

Results

Implied Equity Value / share$636.70

Current Price$635.54

Upside / Downside+0.2%

Implied EV$51.49B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$1.20B	-$203.56M	$796.44M	$1.80B	$2.80B
30.2x	$586.21	$573.65	$561.09	$548.53	$535.97
32.2x	$624.01	$611.45	$598.90	$586.34	$573.78
34.2x	$661.82	$649.26	$636.70	$624.14	$611.59
36.2x	$699.63	$687.07	$674.51	$661.95	$649.39
38.2x	$737.44	$724.88	$712.32	$699.76	$687.20

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