MLABNasdaqIndustrial Instruments For Measurement, Display, and ControlFiscal year ends March 31
MESA LABORATORIES INC /CO/
Financials through Q1 FY2027, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$123.31+0.83 (+0.67%)
Close on Oct 19, 2026
- Market cap
- $709.87M
- P/E (TTM)
- 145.1
- Dividend yield
- 0.52%
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
63.5%−1.4 pts over 5 years
Operating margin
7.4%−1.8 pts over 5 years
Net margin
2.7%+0.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.4% | +4.4% | +13.2% | +11.4% | |
| Gross profit | +4.9% | +5.8% | +12.7% | +11.9% | |
| Operating income | +13.3% | +77.3% | +8.4% | +1.3% | |
| Net income | – | +93.3% | +15.4% | – | |
| EPS, diluted | – | +92.4% | +13.6% | -8.6% | |
| Free cash flow | -7.0% | +19.1% | +2.4% | – | |
| Dividend per share | 0.0% | 0.0% | 0.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | 1.0% | 3.9% | |
| Return on assets | – | 0.6% | 1.6% | |
| Current ratio | 2.16 | 9.32 | 1.72 | |
| Debt to equity | 0.56 | – | – | |
| Net debt to EBITDA | 1.96× | – | – | |
| Interest coverage | – | 1.5× | 1.7× | |
| Inventory turnover | 2.9× | 4.2× | 3.5× | |
| Capex to revenue | – | 1.5% | 1.3% | |
| Diluted shares | 4M | 5M | 6M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Mesa Laboratories generated $200.98M from operations and spent $36.23M on capital expenditure, dividends and share buybacks. 53% of that went back into the business.
Generated
$200.98M
Used
$36.23M
Capital expenditure$19.04M53%Dividends$17.18M47%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin2.7%
×Asset turnover0.58×
×Equity multiplier2.49×
=Return on equity, FY20263.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 2.7% | 0.58× | 2.49× | 3.9% |
| FY2025 | -0.8% | 0.55× | 2.88× | -1.3% |
| FY2024 | -117.6% | 0.39× | 2.06× | -94.4% |
| FY2023 | 0.4% | 0.32× | 1.74× | 0.2% |
| FY2022 | 1.0% | 0.28× | 1.64× | 0.5% |
| FY2021 | 2.4% | 0.27× | 1.61× | 1.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
7of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$6.71M
- Cash generatingOperating cash flow above zero$42.83M
- Return on assets improvedROA up on the prior year-0.4% → 1.5%
- Earnings backed by cashOperating cash flow above net income$42.83M vs $6.71M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.63 → 1.72
- No dilutionShare count did not rise5M → 6M
- Gross margin improvedGross margin up on the prior year62.61% → 63.53%
- More efficientAsset turnover rose0.54 → 0.57