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Side-by-side financial comparison of Idexx Laboratories (IDXX) and Intuitive Surgical (ISRG), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Intuitive Surgical is the larger business by last-quarter revenue ($2.9B vs $1.1B, roughly 2.6× Idexx Laboratories). Intuitive Surgical runs the higher net margin — 22.8% vs 27.7%, a 5.0% gap on every dollar of revenue. On growth, Intuitive Surgical posted the faster year-over-year revenue change (18.8% vs 14.3%). Intuitive Surgical produced more free cash flow last quarter ($730.0M vs $326.3M). Over the past eight quarters, Intuitive Surgical's revenue compounded faster (23.1% CAGR vs 6.4%).
IDEXX Laboratories, Inc. is an American multinational corporation engaged in the development, manufacture, and distribution of products and services for the companion animal veterinary, livestock and poultry, water testing, and dairy markets. Incorporated in 1983 by David Evans Shaw, the company is headquartered in Westbrook, Maine, and in Hoofddorp, Netherlands for its EMEA divisions.
Intuitive Surgical, Inc. is an American biotechnology company that develops, manufactures, and markets robotic products designed to improve clinical outcomes of patients through minimally invasive surgery, most notably with the da Vinci Surgical System. The company is part of the Nasdaq-100, S&P 100 and S&P 500. As of 31 December 2021, Intuitive Surgical had an installed base of 6,730 da Vinci Surgical Systems, including 4,139 in the U.S.
IDXX vs ISRG — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $2.9B |
| Net Profit | $248.2M | $794.8M |
| Gross Margin | 60.3% | 66.4% |
| Operating Margin | 28.9% | 30.2% |
| Net Margin | 22.8% | 27.7% |
| Revenue YoY | 14.3% | 18.8% |
| Net Profit YoY | 14.8% | 15.9% |
| EPS (diluted) | $3.09 | $2.19 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.1B | $2.9B | ||
| Q3 25 | $1.1B | $2.5B | ||
| Q2 25 | $1.1B | $2.4B | ||
| Q1 25 | $998.4M | $2.3B | ||
| Q4 24 | $954.3M | $2.4B | ||
| Q3 24 | $975.5M | $2.0B | ||
| Q2 24 | $1.0B | $2.0B | ||
| Q1 24 | $964.1M | $1.9B |
| Q4 25 | $248.2M | $794.8M | ||
| Q3 25 | $274.6M | $704.4M | ||
| Q2 25 | $294.0M | $658.4M | ||
| Q1 25 | $242.7M | $698.4M | ||
| Q4 24 | $216.1M | $685.7M | ||
| Q3 24 | $232.8M | $565.1M | ||
| Q2 24 | $203.3M | $526.9M | ||
| Q1 24 | $235.6M | $544.9M |
| Q4 25 | 60.3% | 66.4% | ||
| Q3 25 | 61.8% | 66.4% | ||
| Q2 25 | 62.6% | 66.3% | ||
| Q1 25 | 62.4% | 64.7% | ||
| Q4 24 | 59.8% | 68.0% | ||
| Q3 24 | 61.1% | 67.4% | ||
| Q2 24 | 61.7% | 68.3% | ||
| Q1 24 | 61.5% | 65.9% |
| Q4 25 | 28.9% | 30.2% | ||
| Q3 25 | 32.1% | 30.3% | ||
| Q2 25 | 33.6% | 30.5% | ||
| Q1 25 | 31.7% | 25.7% | ||
| Q4 24 | 27.4% | 30.4% | ||
| Q3 24 | 31.2% | 28.3% | ||
| Q2 24 | 26.3% | 28.2% | ||
| Q1 24 | 31.0% | 24.8% |
| Q4 25 | 22.8% | 27.7% | ||
| Q3 25 | 24.8% | 28.1% | ||
| Q2 25 | 26.5% | 27.0% | ||
| Q1 25 | 24.3% | 31.0% | ||
| Q4 24 | 22.7% | 28.4% | ||
| Q3 24 | 23.9% | 27.7% | ||
| Q2 24 | 20.3% | 26.2% | ||
| Q1 24 | 24.4% | 28.8% |
| Q4 25 | $3.09 | $2.19 | ||
| Q3 25 | $3.40 | $1.95 | ||
| Q2 25 | $3.63 | $1.81 | ||
| Q1 25 | $2.96 | $1.92 | ||
| Q4 24 | $2.62 | $1.89 | ||
| Q3 24 | $2.80 | $1.56 | ||
| Q2 24 | $2.44 | $1.46 | ||
| Q1 24 | $2.81 | $1.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $180.1M | $5.9B |
| Total DebtLower is stronger | $450.0M | — |
| Stockholders' EquityBook value | $1.6B | $17.8B |
| Total Assets | $3.4B | $20.5B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $180.1M | $5.9B | ||
| Q3 25 | $208.2M | $4.9B | ||
| Q2 25 | $164.6M | $5.3B | ||
| Q1 25 | $164.0M | $4.5B | ||
| Q4 24 | $288.3M | $4.0B | ||
| Q3 24 | $308.6M | $4.2B | ||
| Q2 24 | $401.6M | $4.8B | ||
| Q1 24 | $397.4M | $4.8B |
| Q4 25 | $450.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $617.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.6B | $17.8B | ||
| Q3 25 | $1.6B | $16.9B | ||
| Q2 25 | $1.5B | $17.8B | ||
| Q1 25 | $1.4B | $17.1B | ||
| Q4 24 | $1.6B | $16.4B | ||
| Q3 24 | $1.6B | $15.6B | ||
| Q2 24 | $1.6B | $14.7B | ||
| Q1 24 | $1.6B | $14.0B |
| Q4 25 | $3.4B | $20.5B | ||
| Q3 25 | $3.4B | $19.4B | ||
| Q2 25 | $3.3B | $20.2B | ||
| Q1 25 | $3.2B | $19.2B | ||
| Q4 24 | $3.3B | $18.7B | ||
| Q3 24 | $3.4B | $17.7B | ||
| Q2 24 | $3.4B | $16.6B | ||
| Q1 24 | $3.4B | $15.8B |
| Q4 25 | 0.28× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $355.8M | $892.5M |
| Free Cash FlowOCF − Capex | $326.3M | $730.0M |
| FCF MarginFCF / Revenue | 29.9% | 25.5% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 2.7% | 5.7% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.43× | 1.12× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $2.5B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $355.8M | $892.5M | ||
| Q3 25 | $402.3M | $841.0M | ||
| Q2 25 | $185.7M | $715.4M | ||
| Q1 25 | $238.0M | $581.6M | ||
| Q4 24 | $262.0M | $822.6M | ||
| Q3 24 | $220.1M | $706.5M | ||
| Q2 24 | $248.3M | $620.5M | ||
| Q1 24 | $198.6M | $265.4M |
| Q4 25 | $326.3M | $730.0M | ||
| Q3 25 | $371.2M | $735.6M | ||
| Q2 25 | $151.6M | $560.1M | ||
| Q1 25 | $207.9M | $465.0M | ||
| Q4 24 | $232.8M | $510.6M | ||
| Q3 24 | $192.0M | $458.6M | ||
| Q2 24 | $215.0M | $311.1M | ||
| Q1 24 | $168.3M | $23.5M |
| Q4 25 | 29.9% | 25.5% | ||
| Q3 25 | 33.6% | 29.4% | ||
| Q2 25 | 13.7% | 23.0% | ||
| Q1 25 | 20.8% | 20.6% | ||
| Q4 24 | 24.4% | 21.2% | ||
| Q3 24 | 19.7% | 22.5% | ||
| Q2 24 | 21.4% | 15.5% | ||
| Q1 24 | 17.5% | 1.2% |
| Q4 25 | 2.7% | 5.7% | ||
| Q3 25 | 2.8% | 4.2% | ||
| Q2 25 | 3.1% | 6.4% | ||
| Q1 25 | 3.0% | 5.2% | ||
| Q4 24 | 3.1% | 12.9% | ||
| Q3 24 | 2.9% | 12.2% | ||
| Q2 24 | 3.3% | 15.4% | ||
| Q1 24 | 3.1% | 12.8% |
| Q4 25 | 1.43× | 1.12× | ||
| Q3 25 | 1.47× | 1.19× | ||
| Q2 25 | 0.63× | 1.09× | ||
| Q1 25 | 0.98× | 0.83× | ||
| Q4 24 | 1.21× | 1.20× | ||
| Q3 24 | 0.95× | 1.25× | ||
| Q2 24 | 1.22× | 1.18× | ||
| Q1 24 | 0.84× | 0.49× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
IDXX
| Vet Lab Consumables | $389.0M | 36% |
| Reference Laboratory Diagnostic And Consulting Services | $349.2M | 32% |
| Rapid Assay Products | $76.0M | 7% |
| Recurring Revenue | $70.6M | 6% |
| CAG Diagnostic Capital Instruments | $58.1M | 5% |
| Water Segment | $50.5M | 5% |
| Livestock And Poultry Diagnostics Segment | $37.5M | 3% |
| CAG Diagnostics Service And Accessories | $35.3M | 3% |
| Systems And Hardware | $20.1M | 2% |
| Rebate And Up Front Considerations Arrangements | $2.4M | 0% |
| Extended Warranties And Post Contract Support Revenue | $1.0M | 0% |
ISRG
| Products | $2.4B | 85% |
| Services | $422.0M | 15% |
