Positioning political buying, disclosed 2026-09-25
Options put/call open interest 0.00, read 2026-11-05
Ethical passes the values gate
Price676.04 USD
Fair value524.23
Ethical score82.7/100
Value readOvervaluedas of 6 Nov 2026
Our investment reviews on this name
2026-10-11Read Accumulation529.06+27.8% to today ✓Markdown gives way to Accumulation
2026-10-02Read Markdown529.06+27.8% to today Distribution gives way to Markdown after a 6% slide in 13 weeks
2026-07-02Read Distribution562.16+20.3% to today First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Idexx Laboratories holds its Markup at $676.04. The statistical read favours the sellers, held for 229 days.
As held on the ledger · 2026-11-06
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 229 days
Price at the screen
$676.04
Valuation
40.48 trailing · 34.40 forward price to earnings
Values screen
PASS· score 82.7
Beta
1.55
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
29.13%
Below 33%
Interest-bearing debt is just 29.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
1.75%
Below 33%
Cash held in interest-bearing accounts and securities is 1.7% of assets, under the one-third limit.
Pass
Receivables
21.86%
Below 49%
Money owed to the company is 21.9% of assets, under the 49% limit.
Pass
Revenue purity
0.07%
Below 5%
Only 0.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Idexx Laboratories clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 29%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when IDXX's ethical verdict changes
Today IDXX passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Overvalued vs our fair value, as of 6 Nov 2026: it trades above our $524.23 fair value estimate, strong competitive moat, 9.70% revenue growth.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. The price runs 29.0% above the base estimate.
Where our models see it going: fair-value estimate $524.23, with a range of $423.00 to $602.87, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Vet diagnostics giant priced beyond its reach
When a vet runs a blood panel on a family dog the sample often travels through Idexx gear. The company sits at the centre of companion-animal testing with a strong moat, 14 percent revenue growth, 25 percent profit margins and a 73 percent return on equity.
Those numbers explain the buy ratings from fourteen analysts and their 708 dollar median target. Yet our fair value sits at 535 dollars against a 567 dollar share price, leaving a negative margin of safety and a forward multiple of 34 times.
The valuation gap is the issue. A business this good still cannot justify paying more than its calculated worth, and any slowdown in pet spending would expose the thin cushion. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
IDXX trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-02Accumulation$551.21+0.0%Entry 17
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Accumulation$551.21+0.0%Entry 16
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31Accumulation$551.21-4.3%Entry 15
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 4.3% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30Accumulation$575.98+2.3%Entry 14
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.3% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Accumulation$562.91+2.9%Entry 13
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.9% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Accumulation$547.18+0.0%Entry 12
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Accumulation$547.18+0.0%Entry 11
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Accumulation$547.18+0.0%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Accumulation$547.18+0.0%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709.
2026-10-18Accumulation$547.18+3.4%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 3.4% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 21%. The street (14 analysts) rates it buy, with a mean price target of $709.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
