Latest Ratios: P/E Ratio 84.8x · EV/EBITDA 15.1x · ROE 3.9%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $567M | $492M | $644M | $591M | $937M | $1.4B | $1.2B | $988M | $930M | $560M | $472M |
| Enterprise Value | $630M | $555M | $798M | $794M | $1.1B | $1.5B | $1.1B | $1.0B | $942M | $600M | $521M |
| P/E Ratio → | 84.76 | 73.07 | — | — | 1027.82 | 728.23 | 380.47 | 729.32 | 123.92 | — | 42.16 |
| P/S Ratio | 2.27 | 1.98 | 2.67 | 2.73 | 4.28 | 7.38 | 9.32 | 8.40 | 9.01 | 5.82 | 5.04 |
| P/B Ratio | 3.06 | 2.64 | 4.03 | 4.06 | 2.38 | 3.45 | 3.07 | 4.49 | 8.35 | 5.63 | 4.82 |
| P/FCF | 13.23 | 11.49 | 15.23 | 14.22 | 39.96 | 39.08 | 35.57 | 39.43 | 31.74 | 25.42 | — |
| P/OCF | 13.23 | 11.49 | 13.76 | 13.39 | 33.47 | 34.67 | 33.66 | 37.21 | 30.43 | 22.55 | 60.86 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.23 | 3.31 | 3.67 | 4.98 | 8.31 | 8.44 | 8.91 | 9.14 | 6.24 | 5.56 |
| EV / EBITDA | 15.07 | 13.29 | 19.54 | — | 29.90 | 51.45 | 37.66 | 50.12 | 48.94 | 51.52 | 20.78 |
| EV / EBIT | 34.02 | 30.00 | 44.80 | — | 248.79 | 205.33 | 109.47 | 111.92 | 109.26 | 278.74 | 31.92 |
| EV / FCF | — | 12.96 | 18.87 | 19.10 | 46.50 | 44.02 | 32.23 | 41.83 | 32.16 | 27.27 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.5% | 63.5% | 62.6% | 61.6% | 61.0% | 59.2% | 65.0% | 55.5% | 59.1% | 56.8% | 56.8% |
| Operating Margin | 7.4% | 7.4% | 6.8% | -125.9% | 1.5% | 2.6% | 9.2% | 6.7% | 9.5% | 2.3% | 17.4% |
| Net Profit Margin | 2.7% | 2.7% | -0.8% | -117.6% | 0.4% | 1.0% | 2.4% | 1.5% | 7.3% | -3.1% | 11.9% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.9% | 3.9% | -1.3% | -94.4% | 0.2% | 0.5% | 1.0% | 1.1% | 7.1% | -3.0% | 12.3% |
| ROA | 1.6% | 1.6% | -0.4% | -45.9% | 0.1% | 0.3% | 0.6% | 0.6% | 4.7% | -1.8% | 6.7% |
| ROIC | 4.9% | 4.9% | 3.7% | -45.6% | 0.4% | 0.8% | 3.3% | 2.9% | 5.6% | 1.1% | 9.0% |
| ROCE | 5.8% | 5.8% | 4.9% | -53.3% | 0.5% | 0.8% | 2.6% | 3.0% | 7.0% | 1.4% | 11.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.48 | 0.48 | 1.14 | 1.59 | 0.47 | 0.56 | 0.36 | 0.64 | 0.20 | 0.47 | 0.56 |
| Debt / EBITDA | 2.16 | 2.16 | 4.44 | — | 5.11 | 7.43 | 4.89 | 6.76 | 1.18 | 3.97 | 2.19 |
| Net Debt / Equity | — | 0.34 | 0.96 | 1.40 | 0.39 | 0.44 | -0.29 | 0.27 | 0.11 | 0.41 | 0.50 |
| Net Debt / EBITDA | 1.51 | 1.51 | 3.77 | — | 4.20 | 5.77 | -3.90 | 2.87 | 0.65 | 3.50 | 1.96 |
| Debt / FCF | — | 1.48 | 3.64 | 4.89 | 6.54 | 4.94 | -3.34 | 2.39 | 0.43 | 1.85 | — |
| Interest Coverage | — | — | 1.50 | -47.38 | 0.92 | 1.92 | 1.29 | 1.70 | — | 1.16 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.72 | 1.72 | 0.63 | 2.47 | 2.74 | 2.59 | 9.32 | 4.72 | 1.42 | 1.85 | 2.16 |
| Quick Ratio | 1.72 | 1.72 | 0.47 | 1.73 | 1.94 | 2.07 | 8.98 | 4.17 | 1.13 | 1.32 | 1.32 |
| Cash Ratio | 0.44 | 0.44 | 0.17 | 0.64 | 0.76 | 1.03 | 8.10 | 3.13 | 0.43 | 0.32 | 0.35 |
| Asset Turnover | — | 0.58 | 0.56 | 0.48 | 0.33 | 0.26 | 0.22 | 0.28 | 0.66 | 0.59 | 0.55 |
| Inventory Turnover | — | — | 3.55 | 2.54 | 2.46 | 3.06 | 4.20 | 3.68 | 6.23 | 4.50 | 2.91 |
| Days Sales Outstanding | — | 64.61 | 63.57 | 65.94 | 70.89 | 81.63 | 64.82 | 65.54 | 44.29 | 54.28 | 55.80 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 0.7% | 0.5% | 0.6% | 0.4% | 0.2% | 0.3% | 0.3% | 0.3% | 0.4% | 0.5% |
| Payout Ratio | 52.5% | 52.5% | — | — | 366.2% | 178.5% | 96.7% | 153.1% | 32.9% | — | 21.1% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.2% | 1.4% | — | — | 0.1% | 0.1% | 0.3% | 0.1% | 0.8% | — | 2.4% |
| FCF Yield | 7.6% | 8.7% | 6.6% | 7.0% | 2.5% | 2.6% | 2.8% | 2.5% | 3.2% | 3.9% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.6% | 0.7% | 0.5% | 0.6% | 0.4% | 0.2% | 0.3% | 0.3% | 0.8% | 0.4% | 0.5% |
| Shares Outstanding | — | $6M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | $4M |
Goodwill impairment and integration
According to current market data, MLAB trades at a trailing P/E of 84.64, which appears disconnected from its 3.38% revenue growth rate, suggesting that investors are pricing in a recovery that has yet to manifest in the company's recent quarterly financial performance metrics.
The valuation multiple implies an expectation of significant margin expansion or a return to high-growth M&A, neither of which is supported by the current stagnant top-line trajectory. Compared to peers like Novanta or Repligen, the current P/E suggests the market may be misclassifying the firm as a high-growth genomics player rather than a mature regulatory compliance provider.
Based on reported financial statements, MLAB's ROIC has struggled to maintain positive momentum, falling to 0.8% in 2026Q4 from historical peaks, which indicates that the company's aggressive acquisition strategy is currently failing to generate returns that exceed its cost of capital.
The persistent gap between invested capital and returns suggests that the integration of recent acquisitions, particularly in the genomics space, is diluting the efficiency of the legacy sterilization business. Investors should monitor whether management can improve asset utilization or if further goodwill impairments will be required to align the balance sheet with economic reality.
As indicated by the 2026Q3 data, MLAB's cash conversion cycle reached 143 days, a figure that remains elevated compared to historical norms and suggests that the company is facing persistent challenges in optimizing its inventory and receivables management across its disparate business segments.
The high days-sales-outstanding and inventory levels imply that the company's shift toward more complex genomics hardware is creating friction in the cash conversion process. This inefficiency ties up liquidity that could otherwise be deployed for debt reduction or R&D, further pressuring the company's ability to self-fund its growth initiatives.
According to recent SEC filings, MLAB's debt-to-EBITDA ratio of 10.61 in 2026Q4 highlights a significant leverage burden, which warrants caution given the company's inconsistent operating income and the potential for further volatility in its interest coverage capacity during periods of market stress.
While the absolute debt level has decreased, the high ratio relative to EBITDA suggests that the company's financial flexibility is constrained by its past borrowing. The lack of a consistent interest coverage buffer indicates that any further decline in operating margins could quickly jeopardize the company's ability to service its remaining obligations without external financing.
Based on an analysis of the company's business model, the P/E ratio is a fundamentally flawed metric for MLAB, as it obscures the massive non-cash amortization charges resulting from the company's serial acquisition strategy, which artificially depresses reported earnings and distorts the true valuation.
Analysts should instead focus on EV/EBITDA or P/FCF to better capture the underlying cash-generating power of the business, as these metrics neutralize the accounting noise inherent in the company's acquisition-heavy structure. Relying on P/E leads to a misleading perception of the company's valuation, as it fails to account for the significant depreciation of intangible assets that are central to the firm's operations.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MLAB stock.
Mesa Laboratories, Inc.'s current P/E ratio is 84.8x. The historical average is 25.1x. This places it at the 96th percentile of its historical range.
Mesa Laboratories, Inc.'s current EV/EBITDA is 15.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.4x.
Mesa Laboratories, Inc.'s return on equity (ROE) is 3.9%. The historical average is 9.0%.
Based on historical data, Mesa Laboratories, Inc. is trading at a P/E of 84.8x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mesa Laboratories, Inc.'s current dividend yield is 0.62% with a payout ratio of 52.5%.
Mesa Laboratories, Inc. has 63.5% gross margin and 7.4% operating margin.
Mesa Laboratories, Inc.'s Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.