MESA LABORATORIES INC /CO/ MLAB
We are a global leader in the design and manufacture of life sciences tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. We offer products and services to help our customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world. We have manufacturing operations in the United States and Europe, and our products are marketed by our sales personnel in North America, Europe and the Asia Pacific region ("APAC"), and by independent distributors throughout the world.
We are headquartered in Lakewood, Colorado and our common stock is listed for trading on the Nasdaq Global Market ("Nasdaq") under the symbol MLAB.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $249.1M | $241.0M | $216.2M | $219.1M | $184.3M | $133.9M | $117.7M | $103.1M | $96.2M | $93.7M |
| Cost of revenue | $90.9M | $90.1M | $82.9M | $85.4M | $75.2M | $46.9M | $52.3M | $42.2M | $41.6M | $40.4M |
| Gross profit | $158.3M | $150.9M | $133.2M | $133.7M | $109.1M | $87.0M | $65.4M | $60.9M | $54.6M | $53.2M |
| R&D | $20.3M | $19.5M | $19.3M | $20.5M | $15.8M | $10.4M | $6.4M | $3.5M | $3.5M | $4.2M |
| SG&A | $78.7M | $73.3M | $72.9M | $72.4M | $60.3M | $45.8M | $38.2M | $31.3M | $26.3M | $22.8M |
| Total operating expenses | $139.8M | $134.5M | $405.3M | $130.4M | $104.4M | $74.7M | $57.4M | $51.1M | $52.4M | $36.9M |
| Operating income | $18.5M | $16.3M | -$272.1M | $3.3M | $4.7M | $12.4M | $7.9M | $9.8M | $2.2M | $16.3M |
| Interest expense | $10.7M | $11.9M | $5.7M | $4.8M | $3.9M | $8.0M | $5.5M | $1.7M | $1.9M | — |
| Pre-tax income | $12.0M | $6.0M | -$275.6M | -$389.0K | $3.6M | $2.3M | $3.9M | $8.6M | $301.0K | $14.3M |
| Income tax | $5.3M | $7.9M | $21.4M | $1.3M | $1.7M | $971.0K | $2.1M | $1.1M | $3.3M | $3.1M |
| Net income | $6.7M | -$2.0M | -$254.2M | $930.0K | $1.9M | $3.3M | — | — | — | — |
| EPS, basic | 1.22 | -0.36 | -47.20 | 0.17 | 0.36 | 0.66 | 0.42 | 1.95 | -0.79 | 3.04 |
| EPS, diluted | 1.21 | -0.36 | -47.20 | 0.17 | 0.35 | 0.64 | 0.41 | 1.86 | -0.79 | 2.91 |
| Shares, diluted (wtd. avg.) | $5.6M | $5.4M | $5.4M | $5.4M | $5.3M | $5.1M | $4.4M | $4.0M | $3.8M | $3.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $26.9M | $27.3M | $28.2M | $32.9M | $49.3M | $263.9M | $81.4M | $10.2M | $5.5M | $5.8M |
| Receivables | $44.1M | $42.0M | $39.1M | $42.6M | $41.2M | $23.8M | $21.1M | $12.5M | $14.3M | $14.3M |
| Inventory | $26.4M | $25.4M | $32.7M | $34.6M | $24.6M | $11.2M | $14.2M | $6.8M | $9.2M | $13.9M |
| Total current assets | $106.3M | $102.7M | $109.4M | $119.0M | $124.3M | $303.7M | $122.8M | $33.6M | $32.0M | $35.8M |
| Property, plant and equipment | $30.6M | $32.3M | $31.8M | $28.1M | $28.6M | $22.0M | $22.1M | $22.2M | $23.6M | $26.0M |
| Goodwill | $186.9M | $181.8M | $180.1M | $286.4M | $291.2M | $160.8M | $141.5M | $66.4M | $65.5M | $72.2M |
| Other intangibles | $83.3M | $96.9M | $113.8M | $216.8M | $250.1M | $111.7M | $119.9M | $33.2M | $42.9M | $37.8M |
| Total assets | $427.7M | $433.3M | $446.8M | $661.8M | $707.4M | $601.5M | $409.1M | $156.8M | $164.1M | $171.7M |
| Accounts payable | $4.9M | $5.7M | $6.0M | $6.1M | $7.9M | $4.5M | $3.4M | $2.9M | $2.4M | $2.2M |
| Short-term debt | — | — | — | — | — | — | — | $2.1M | $1.6M | $1.1M |
| Total current liabilities | $61.9M | $164.0M | $44.3M | $43.4M | $48.1M | $32.6M | $26.0M | $23.7M | $17.3M | $16.6M |
| Long-term debt | $67.5M | $71.2M | — | — | — | — | — | $20.6M | $44.6M | $53.7M |
| Total liabilities | $241.5M | $273.5M | $301.4M | $268.4M | $313.6M | $195.2M | $189.1M | $45.5M | $64.7M | $73.9M |
| Retained earnings | -$185.7M | -$188.9M | -$183.5M | $74.2M | $76.7M | $72.5M | $72.4M | $73.3M | $68.3M | $73.7M |
| Total equity | $186.2M | $159.8M | $145.4M | $393.5M | $393.8M | $406.2M | $220.0M | $111.3M | $99.4M | $97.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $42.8M | $46.8M | $44.1M | $28.0M | $39.2M | $37.1M | $27.0M | $30.6M | $25.7M | $17.3M |
| Depreciation and amortisation | $5.3M | $5.4M | $4.2M | $4.3M | $3.3M | $17.7M | $13.0M | $9.4M | $9.5M | $8.7M |
| Stock-based compensation | $17.9M | $13.1M | $11.9M | $12.5M | $11.4M | $9.3M | $5.5M | $4.2M | $1.7M | $1.4M |
| Capital expenditure | $3.2M | $4.2M | $2.6M | $4.5M | $4.4M | $2.0M | $1.5M | $1.3M | $2.8M | — |
| Investing cash flow | -$3.2M | -$4.5M | -$81.3M | -$9.5M | -$305.2M | -$2.0M | -$185.6M | -$3.9M | -$17.2M | -$18.4M |
| Financing cash flow | -$41.9M | -$44.5M | $32.8M | -$33.3M | $52.6M | $146.2M | $231.3M | -$21.7M | -$9.0M | $1.2M |
| Dividends paid | $3.5M | $3.5M | $3.4M | $3.4M | $3.3M | $3.2M | $2.7M | $2.5M | $2.4M | $2.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000724004-26-000071.
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