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Primary reporting period: 2026-03-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
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 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 testing and laboratory services to the dental and pharmaceutical industries.
How they make money
Mesa Laboratories operates through a customer-centric, lean-based system called The Mesa Way to manufacture and sell high-margin, niche life sciences tools and quality control solutions. The company generates revenue primarily through the sale of specialized equipment, consumables, and associated maintenance and laboratory services to customers in the pharmaceutical, medical device, and healthcare industries.
Products & services
Mesa provides life sciences tools and critical quality control solutions, including biological indicators for sterilization monitoring, peptide synthesizers, MassARRAY systems for clinical genomics, and various calibration solutions.
Brands & revenue mix
MassARRAY
Clinical genomics system for genetic analysis.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
Sterilization and Disinfection ControlUSD 101.57M40.8%
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Overall investment score · Quality, value, risk and opportunity
25
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
44
Weak
Financial Strength
67
Business Quality / Moat
43
Management
35
Growth Quality
25
Risk / Durability
25
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
21
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
25/100
Building Historical Record
Model Score 25/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Balance-sheet / debt profile scores strongly
What to watch
•Debt service risk
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for MLAB
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can MLAB maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is MLAB's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is MLAB's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What future growth or profitability would be needed to justify MLAB's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for MLAB
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Debt service risk
Interest coverage is low (~1.7x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on MLAB.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+High-margin, niche business model.
+The Mesa Way lean-based operating system.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Specialties industry.
−Dependence on third-party suppliers and contract manufacturers.
−Risks associated with acquisitions and integration of new businesses.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdown
Wall Street Score
Weak25/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Strong
84
Debt Cost6.3%
Debt Reduction YoY7.0%
Debt / Equity0.91x
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Revenue
Poor
11
Revenue YoY0.2%
Revenue CAGR7.3%
Net Margin1.9%
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Asset
Poor
28
Asset Growth YoY-1.3%
Liquidation/Share$33.92
Net Assets/MCap0.41x
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Capital
Poor
3
Earnings Yield0.6%
Buyback Yield0.0%
Debt Cost6.3%
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Management
Poor
35
ROIC5.0%
ROE2.5%
ROA1.1%
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Moat
Weak
43
EPS Growth22.6%
FCF/Share Growth4.1%
Rev/Share Growth6.1%
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Valuation
Poor
0
Intrinsic Value$14.84
Value Reference$8.90
MOS-784.9%
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Buffett
Poor
39
Revenue11
Moat43
Valuation0
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MOS
Poor
0
MOS %-784.9%
Value Reference$8.90
Deep Discount Reference$5.94
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Financial
Poor
22
Interest Coverage1.7x
ROIC5.0%
FCF Yield5.1%
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Master
Poor
17
Financial22
Valuation0
Debt84
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Resilience
Weak
45
Survival Years0.3 yrs
Current Ratio1.72x
FCF Margin15.9%
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Score Changes
3 historical score records available
Previous Score
25
Oct 1, 2026
Change
-0.1
points
Current Score
25
Oct 5, 2026
Category Changes
Revenue-0.3
Debt0
Assets-0.8
Capital0
Management0
Moat0
Valuation0
Buffett-0.2
MLAB decreased 0.1 points because some fundamentals weakened.
Projected Score
Projected Score
25
Projected Change
-0.2 points
Preliminary comparable-period financial changes suggest decline of approximately 0.2 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue
$249.7M
$249.1M
$241.0M
$216.2M
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Cost of Revenue
$84.9M
$90.9M
$90.1M
$82.9M
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Gross Profit
$164.8M
$158.3M
$150.9M
$133.3M
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····
····
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Research & Development
$20.0M
$20.3M
$19.5M
$19.3M
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····
····
····
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SG&A Expenses
$107.9M
$119.5M
$115.0M
$111.5M
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Operating Expenses
$142.3M
$139.8M
$134.5M
$405.3M
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EBITDA
$40.6M
$35.3M
$42.3M
-$238.4M
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Operating Income
$22.5M
$18.5M
$16.3M
-$272.1M
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Interest Expense
$10.9M
$10.7M
$11.9M
$5.7M
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····
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Income Before Tax
$9.4M
$12.0M
$6.0M
-$275.6M
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Income Tax Expense
$4.6M
$5.3M
$7.9M
-$21.4M
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Net Income
$4.8M
$6.7M
-$2.0M
-$254.2M
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Basic EPS
$0.86
$1.22
$-0.36
$-47.20
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Basic Shares
5.66M
5.51M
5.43M
5.39M
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Diluted Shares
5.76M
5.57M
5.43M
5.39M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Cash position grew
Debt reduced
What Weakened
Margins contracted
Potential Score Impact
Positive indicators included revenue growth, cash levels, debt levels. Pressure indicators included EPS growth, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 1.0%. EPS declined 42.4%. Cash increased 44.3%. Total debt declined 48.7%. Net income margin declined by 3.3 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
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5 Years
$———.——
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10 Years
$———.——
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Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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