MLAB · Nasdaq · Technology
Mesa Laboratories, Inc. (MLAB) — Rank #145 by gross profitability (GP/assets 0.38) · ROE 3.6% · Piotroski F-Score 8 / 9.
As-of 2026-10-30 · CIK 0000724004 · all metrics point-in-time as of the filing date.
About
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.
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The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization, decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries. This segment also provides sterility assurance testing and laboratory services to the dental and pharmaceutical industries. The Biopharmaceutical Development segment develops, manufactures, sells, and services automated systems for protein analysis (immunoassays) and peptide synthesis solutions. Its Clinical Genomics segment offers MassARRAY, a genetic analysis tool system, and related consumables, including chips, panels, and chemical reagent solutions used by clinical labs to analyze DNA samples for hereditary disease screenings, pharmacogenetics, oncology related applications, and toxicology research. The Biopharmaceutical Development segment provides automated systems, such as Gyrolab xPand and Gyrolab xPlore hardware and software, Gyrolab Bioaffy consumable microfluidic disks, Gyrolab kits and Rexxip buffers for protein analysis; and PurePep Symphony and Chorus instruments for peptide synthesis. Its Calibration Solutions segment offers quality control products to measure and calibrate critical parameters in applications, such as renal care, gas flow, environmental and process monitoring, and torque testing in pharmaceutical, laboratory, medical device, manufacturing, industrial, and environmental applications. This segment's products include continuous monitoring systems, data loggers, and torque testing systems under the DialyGuard, DryCal, DataTrace, and ViewPoint brands. Mesa Laboratories, Inc.
was incorporated in 1982 and is headquartered in Lakewood, Colorado.
- Industry
- Scientific & Technical Instruments
- Sector
- Technology
- State
- CO
- Filer Category
- Accelerated filer
- Fiscal Year End
- March 31
- Website
- mesalabs.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
717
Industry
Scientific & Technical Instruments
Exchange
Nasdaq
11/12
Flags passed
MLAB passes 11/12 quality flags
1 caution to review
- CAUTIONDilution above 2%
Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
- PASSGross margin holding
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Operating leverage expanding · Deferred revenue growing
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 57th percentile of 41 SIC 38 peers
Gross profitability (GP / assets)
0.38
Primary signal (Novy-Marx).
57th pctl of 41 SIC 38 peers
Return on equity
3.6%
Gross margin
63.5%
68th pctl of 41 SIC 38 peers
Revenue growth (YoY)
3.4%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
4.4%
Revenue CAGR (5Y)
13.2%
Earnings CAGR (3Y)
93.3%
FCF CAGR (3Y)
19.1%
Cash Flow Health
Is the cash real?
No warning flags · FCF 490% above net income
Free cash flow
$39.58M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
489.7%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
7.2%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
Caution: Dilution above 2% · net debt $35.40M, F-Score 8/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.22
28th pctl of 40 SIC 38 peers (best = lowest)
Current ratio
1.79×
10th pctl of 40 SIC 38 peers
Quick ratio
1.14×
Net cash
-$35.40M
Cash & equivalents minus total debt.
Piotroski F-Score
8 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
3.5 / 5
Capital allocation quality
Composite score
3.3 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports