Integrated veterinary diagnostics
IDEXX Laboratories, Inc.
IDEXX Laboratories earns revenue by selling diagnostic instruments, recurring consumables, reference-laboratory services, and software to veterinary practices and water-testing organizations. It relies on single-source components and testing kits, uses AWS infrastructure for cloud practice software, and acquires software assets such as Greenline Pet.
IDXX Updated Sep 12, 2026 4 AI consumers· 1 recurring
Per the valuechain.wiki graph, IDEXX Laboratories, Inc. is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 45 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-09-12).
Financials & Segments
- Total revenue · FY2025 total revenue: $4.303702 billion
- Segments · Companion Animal Group (CAG) · Water · Livestock, Poultry and Dairy (LPD) · Other
Revenue from
- Veterinary practices, veterinarians, and biomedical research organizations High confidence· Amount $4B · FY2025 · CAG segment revenue from the veterinary-practice, veterinarian, and biomedical-research customer market
The Companion Animal Group sells in-clinic instruments and consumables, reference-laboratory services, and software to veterinary practices, veterinarians, and biomedical research organizations. CAG revenue from this customer market was $3.953285 billion in FY2025.Mentions KO Maeil Business Newspaper Published Aug 4, 2026: IDEXX Laboratories Q2 Revenue Rises 10% to $1.217 Billion - Water utilities, government laboratories, and private certified laboratories High confidence· Amount $201M · FY2025 · Water segment revenue from water utilities, government laboratories, and private certified laboratories
Water utilities, government laboratories, and private certified laboratories buy IDEXX products to test drinking and process water for microbial contamination. Revenue from the Water segment serving this customer group was $201.149 million in FY2025.
Pays to
- Ortho High confidence
IDEXX identified Ortho in two consecutive annual filings as a sole or single-source supplier of products, components, and materials. These inputs support instruments, consumables, and livestock, dairy, and water-testing products, but vendor-specific spend was not disclosed.Confirms EN IDEXX Investor Relations and SEC EDGAR Published Feb 21, 2025: IDEXX Laboratories, Inc. FY2024 Form 10-K - Thermo Fisher Scientific High confidence
IDEXX distributes certain water-testing kits manufactured by Thermo Fisher Scientific to complement its Cryptosporidium and Giardia products. Vendor-specific purchasing value was not disclosed. - Amazon Medium confidence
IDEXX uses Amazon Web Services for cloud infrastructure and hosting across veterinary software services including Animana, ezyVet, and VetConnect Plus. AWS-specific spending was not disclosed.
Investments
- Greenline Pet High confidence· Amount $81M · Acquisition completed Q1 2024 · Consideration for Greenline Pet software and data-platform assets, including contingent consideration
IDEXX acquired Greenline Pet, a platform for veterinary-practice coupon and rebate workflows, in the first quarter of 2024. The SEC filing did not name the target, but management's same-quarter materials identified Greenline Pet; disclosed consideration was approximately $81.1 million including contingent consideration.Confirms EN IDEXX Investor Relations and SEC EDGAR Published Feb 21, 2025: IDEXX Laboratories, Inc. FY2024 Form 10-KConfirms EN IDEXX Laboratories Published May 1, 2024: IDEXX Laboratories Q1 Fiscal Year 2024 Earnings Call Prepared Remarks
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| IDEXX Laboratories, Inc. | node | +31.7 | -38 | +36.1 | -25.5 | +63.6 | -20.9 |
| Amazon | benef1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Thermo Fisher Scientific | benef1 | +43.5 | -17.3 | -3.4 | -1.7 | +11.8 | +6.1 |
| SanDisk | benef2 | · | · | · | · | · | +633 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +209.1 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +120.2 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +86.6 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| Occidental Petroleum | benef2 | +67.7 | +119.1 | -4.1 | -15.9 | -14.9 | +47.4 |
| GE Vernova | benef2 | · | · | · | · | +99 | +44.4 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +42.9 |
| FedEx | benef2 | +0.7 | -31.6 | +49.1 | +13.5 | +5.1 | +39.6 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +37.3 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +36.3 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Globalstar | benef2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +34.9 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +30.1 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +20.7 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +18.5 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Entergy | benef2 | +17.1 | +3.6 | -6.1 | +56 | +25.3 | +18.2 |
| Solventum | benef2 | · | · | · | · | +20 | +15.7 |
| Norfolk Southern | benef2 | +27.3 | -15.6 | -1.6 | +1.6 | +25.6 | +15.6 |
| Colgate-Palmolive Company | benef2 | +2.1 | -5.4 | +3.8 | +16.6 | -11 | +14.4 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +11 |
| United Parcel Service, Inc. | benef2 | +30 | -16.2 | -6 | -15.9 | -15.9 | +8 |
| Celestica | benef2 | +37.9 | +1.3 | +159.8 | +215.2 | +220.3 | +5.7 |
| Procter & Gamble | benef2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.5 |
| Amorepacific | benef2 | -30.1 | -5.7 | -18.4 | +9.9 | +8.2 | +4.1 |
| Exelon | benef2 | +41.5 | +8.3 | -14 | +9.2 | +20 | +1.9 |
| Vistra | benef2 | +19.6 | +5.1 | +70.7 | +261.5 | +17.7 | -7.2 |
| Fabrinet | benef2 | +52.7 | +8.2 | +48.4 | +15.5 | +107.1 | -10.5 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Abbott Laboratories | benef2 | +30.5 | -20.7 | +2.3 | +4.8 | +12.9 | -11.9 |
| Talen Energy | benef2 | · | · | · | +214.8 | +86.1 | -15.4 |
| Quantum Computing Inc | benef2 | -75.8 | -55.7 | -39.5 | +1712.7 | -38 | -21.9 |
| D-Wave Quantum | benef2 | · | -85.3 | -38.9 | +854.5 | +211.3 | -36.6 |
| Nike | benef2 | +18.7 | -29 | -6 | -29.1 | -13.8 | -38.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
IDEXX Laboratories, Inc. operates across Integrated veterinary diagnostics. After +63.6% in 2025, it corrected -20.9% in 2026. The supply side (avg +9.1%) leads the stock (-20.9%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Amazon (+12%) and the furthest behind is Thermo Fisher Scientific (+6.1%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It relies on single-source components and testing kits, uses AWS infrastructure for cloud practice software, and acquires software assets such as Greenline Pet.
Analysis generated from returns as of 2026-09-04