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Mesa Laboratories
(NASDAQ:MLAB)
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Rating:66Neutral
Price Target:
$154.00
▲(20.93% Upside)
Action:Reiterated
Date:09/09/26
MLAB’s score is supported mainly by strong free cash flow generation, improving balance-sheet leverage, and clear technical strength with the stock trading above major moving averages. The biggest constraint is valuation (very high P/E) alongside still-thin net profitability and execution uncertainty highlighted on the earnings call, including deferred full-year guidance and operational issues in SDC.
Positive Factors
Recurring Calibration Growth
Calibration Solutions' 7.6% YoY growth and recurring service-driven revenue indicate a durable contribution anchored in scheduled customer needs. This mix can support visibility and repeat purchasing, while the segment's 350-basis-point gross-margin expansion strengthens its role in the portfolio.
Negative Factors
Thin and Volatile Profitability
TTM net margin of about 1.9% remains thin despite positive operating profitability, and the company has recorded meaningful historical volatility including a large FY2024 loss. This leaves less room for execution setbacks and makes durable earnings conversion less established.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Calibration Growth
Calibration Solutions' 7.6% YoY growth and recurring service-driven revenue indicate a durable contribution anchored in scheduled customer needs. This mix can support visibility and repeat purchasing, while the segment's 350-basis-point gross-margin expansion strengthens its role in the portfolio.
Read all positive factors
Mesa Laboratories Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales by region to show where the company earns its money. For Mesa, geographic splits highlight exposure to key markets, diversification benefits, and risks from local economic or regulatory changes that could affect growth.
Breaks down sales by region to show where the company earns its money. For Mesa, geographic splits highlight exposure to key markets, diversification benefits, and risks from local economic or regulatory changes that could affect growth.
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The Fly
The FlyMesa Laboratories (MLAB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$719.96M
Dividend Yield0.5%
Average Volume (3M)110.16K
Price to Earnings (P/E)149.6
Beta (1Y)1.06
Revenue Growth3.04%
EPS GrowthN/A
CountryUS
Employees717
SectorTechnology
Sector Strength88
IndustryMedical - Specialties
Share Statistics
EPS (TTM)0.86
Shares Outstanding5,595,869
10 Day Avg. Volume86,312
30 Day Avg. Volume110,157
Financial Highlights & Ratios
PEG Ratio-0.17
Price to Book (P/B)2.62
Price to Sales (P/S)1.96
P/FCF Ratio12.32
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue2.82
Enterprise Value/Gross Profit4.27
Enterprise Value/Ebitda17.34
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)10.19
Revenue Forecast (FY)$254.45M
Mesa Laboratories Business Overview & Revenue Model
Company Description
Mesa Laboratories, Inc. develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control ...
How the Company Makes Money
Mesa Laboratories makes money primarily by selling products and services that support ongoing quality control and compliance workflows, producing a mix of recurring consumables revenue and equipment/service revenue. Key revenue streams include: (1...
Mesa Laboratories Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call balanced clear operational progress and improving financial metrics (modest revenue growth, margin expansion, AOI improvement, strong cash flow and debt reduction) with material execution challenges in SDC (quarterly revenue decline, delivery reliability and backlog volatility) and some non-operating volatility from currency impacts. Management presented a concrete remediation plan (operations focus, R&D reprioritization for Gyrolab, new commercial leadership in BPD) and committed to delivering full-year guidance in November, suggesting confidence in a fixable path forward.Positive Updates
Modest Revenue Growth in Q1
Total revenues of $60.1M in Q1, up 1% YoY; non-GAAP organic revenue growth 1%, core organic growth 0.4% (excluding a 60 bp currency tailwind).
Negative Updates
SDC Quarterly Revenue Decline and Delivery Reliability
Sterilization & Disinfection Controls (SDC) reported organic revenue down 3.6% YoY in the quarter due to delivery reliability issues (missed promised ship dates) rather than demand; SDC represented 41% of revenues this quarter.
Read all updates
Q1-2027 Updates
Positive
Negative
Modest Revenue Growth in Q1
Total revenues of $60.1M in Q1, up 1% YoY; non-GAAP organic revenue growth 1%, core organic growth 0.4% (excluding a 60 bp currency tailwind).
Read all positive updates
Company Guidance
Mesa deferred full‑year fiscal 2027 guidance to its November earnings call alongside first‑half results, saying Q1 trends are consistent with its internal plan and that the company returned to organic growth in Q1 (total revenues $60.1M, organic growth 1%, core organic ex‑currency 0.4%). Management will continue deleveraging — Q1 saw an $8.7M debt paydown that brought net leverage to 1.85x with a target range of 1.5–1.75x by year‑end — while maintaining liquidity ($30.7M cash) and strong operating cash flow ($14.7M in Q1, up $12.8M YoY). They plan to redeploy a portion of operating leverage into higher‑return businesses rather than pursue large M&A, noting trailing 12‑month adjusted operating income (ex‑unusual items) of ~ $66M (up ~$2.5M) and Q1 adjusted operating income of $15M (25.6% of revenues, $2.61/diluted share; $15.4M excluding a $382k legal settlement); full‑year revenue and market assumptions will be provided in November.Mesa Laboratories Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
76
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 249.72M | 249.13M | 240.98M | 216.19M | 219.08M | 184.34M |
| Gross Profit | 164.79M | 158.27M | 150.87M | 133.25M | 133.69M | 109.09M |
| EBITDA | 40.58M | 35.28M | 42.35M | -238.38M | 37.52M | 32.53M |
| Net Income | 4.80M | 6.71M | -1.97M | -254.25M | 930.00K | 1.87M |
Balance Sheet | ||||||
| Total Assets | 419.22M | 427.75M | 433.35M | 446.80M | 661.83M | 707.37M |
| Cash, Cash Equivalents and Short-Term Investments | 30.70M | 26.93M | 27.32M | 28.21M | 32.91M | 49.35M |
| Total Debt | 101.36M | 168.83M | 181.47M | 231.30M | 186.14M | 221.13M |
| Total Liabilities | 230.46M | 241.50M | 273.52M | 301.40M | 268.35M | 313.57M |
| Stockholders Equity | 188.76M | 186.25M | 159.83M | 145.39M | 393.48M | 393.80M |
Cash Flow | ||||||
| Free Cash Flow | 56.12M | 39.58M | 42.31M | 41.57M | 23.44M | 34.79M |
| Operating Cash Flow | 55.67M | 42.83M | 46.81M | 44.13M | 27.98M | 39.22M |
| Investing Cash Flow | -2.80M | -3.25M | -4.50M | -81.31M | -9.49M | -305.23M |
| Financing Cash Flow | -43.92M | -41.85M | -44.51M | 32.84M | -33.33M | 52.58M |
Mesa Laboratories Technical Analysis
Positive
127.35
Price Trends
126.67
Positive
113.70
Positive
102.83
Positive
Market Momentum
0.09
Positive
51.65
Neutral
80.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MLAB, the sentiment is Positive. The current price of 127.35 is below the 20-day moving average (MA) of 129.25, above the 50-day MA of 126.67, and above the 200-day MA of 102.83, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 51.65 is Neutral, neither overbought nor oversold. The STOCH value of 80.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MLAB.
Mesa Laboratories Risk Analysis
Mesa Laboratories disclosed 47 risk factors in its most recent earnings report. Mesa Laboratories reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Mesa Laboratories Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $22.63B | 28.31 | 11.27% | 1.11% | 8.37% | 23.94% | |
66 Neutral | $719.96M | 149.60 | 2.59% | 0.50% | 3.04% | ― | |
66 Neutral | $474.92M | -12.35 | -25.50% | ― | 0.72% | 56.39% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | $941.54M | -0.89 | -55.30% | ― | -2.57% | -135.75% | |
48 Neutral | $237.75M | -2.63 | -18.16% | ― | -45.15% | 29.58% | |
42 Neutral | $4.71M | -0.16 | 48.72% | 1.23% | -13.28% | 39.65% |
* Technology Sector Average
MLAB
Mesa Laboratories
128.66
52.27
68.43%
LAB
Standard BioTools
0.61
-0.72
-54.17%
QDEL
QuidelOrtho
13.73
-15.75
-53.43%
STE
Steris
232.15
-6.12
-2.57%
TRIB
Trinity Biotech
7.30
-23.30
-76.15%
MASS
908 Devices
11.49
3.16
37.94%
Mesa Laboratories Corporate Events
Executive/Board ChangesShareholder Meetings
Mesa Laboratories Shareholders Back Board And Governance Decisions
Positive
Sep 8, 2026
On September 8, 2026, Mesa Laboratories held its annual meeting of shareholders, with 4,872,692 of 5,595,869 eligible shares represented in person or by proxy. Shareholders elected seven directors, including John Sullivan and Siddhartha Kadia, to ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.