Mesa Laboratories Inc logo

Mesa Laboratories Inc(MLAB)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
2-STAR RATING
Consider higher Upturn Star rating
BUY for 31 days
PROFIT SINCE LAST BUY
+19.73% ▲
LAST CLOSE
$133.01
09/23/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for MLAB

09/23/2026: MLAB (2-star) has a low Upturn Star Rating. Not recommended to BUY.

Mesa Laboratories is a specialized provider of quality validation and monitoring instruments for the life sciences and healthcare sectors. The company’s primary strength lies in its high-margin recurring revenue stream from consumables like biological indicators, which are essential for manufacturing compliance. Its core growth story centers on strategic 'buy-and-build' acquisitions that expand its footprint in specialized regulatory niches. However, risks include potential integration complexities, competitive pressure from larger life science providers, and reliance on evolving regulatory standards. Mesa may best suit growth-oriented investors who value a predictable, niche-focused business model, though they should carefully monitor future M&A execution and margin performance.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers moderate growth through M&A, though it lacks the explosive scaling typical of high-growth tech stocks.
Momentum investorWeak fitMomentum depends on specific market catalysts or positive earnings surprises that are not always present.
Value investorMixed fitValuation fluctuates based on the perceived quality of the company's niche market positioning and M&A integration success.
Dividend investorWeak fitMesa is not primarily focused on high dividend yields, preferring to reinvest capital into growth.
Low-risk investorMixed fitWhile the business model is inherently defensive, the small-cap nature of the stock can lead to higher volatility.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highSmaller market capitalization leads to higher price swings relative to larger healthcare companies.
Valuation riskMediumInvestors often pay a premium for high-quality recurring revenue models, creating valuation sensitivity.
Competition risk (specialized niches)MediumLarger players like STERIS or Fortive have greater resources to compete in specific product niches.
Business qualityStrongThe company provides essential, regulated products, ensuring stable, long-term demand.
Dividend incomeLow / noneDividends are a minor component of the total return strategy for this stock.
Execution riskMedium / highSuccess is highly dependent on identifying and integrating new acquisitions effectively.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -56.63%
Avg. Invested days 27
Today’s Advisory Consider higher Upturn Star rating
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Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/23/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
MLAB receives a 3-star rating, supported by solid company fundamentals. The rating is constrained by soft analyst coverage, weak price momentum, and limited analyst upside.

Company Fundamentals

★★★★★
MLAB has solid overall fundamentals (4 stars), with moderate financial health, solid growth momentum, and strong ownership. In FY2026 versus FY2025, strong earnings growth (+440.0%) and strong cash generation (FCF margin 15.9%) are partially offset by moderate revenue growth (+3.4%), soft profitability (net margin 2.7%).

Financial Health Rating

★★★★★
MLAB's financial health is supported by solid cash strength, including free-cash-flow generation (15.9% of revenue). Profitability is moderate (3 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is MLAB's strongest growth driver at +440.0% FY2026 versus FY2025 (strong, 5 stars). By comparison, while revenue growth (+3.4%, moderate) and free-cash-flow growth (-6.4%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 96.0% and approximately 88.4% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 5.62% supports management-shareholder alignment.

Top 5 Institutional Investors

Long Path Partners, LP 8.53%
BlackRock Inc 7.04%
Boston Partners Global Investors, Inc 4.74%
Vanguard Capital Management, LLC 4.16%
Ranger Investment Management LP 3.11%

Unit Economics (Per $1K Revenue)

★★★★★
MLAB generates approximately $635 of gross profit, $74 of operating income, and $159 of free cash flow for every $1,000 of revenue. Based on FY2026 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 44.13%

Quantitative Style Profile

★★★★★
MLAB has a liquid profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

Small / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 753.37M USD
Price to earnings Ratio 158.39
1Y Target Price 117.5
Price to earnings Ratio 158.39
1Y Target Price 117.5
Volume (30-day avg) 147.1K shares
Beta 0.96
52 Weeks Range 63.07 - 136.31
Updated Date 09/23/2026
52 Weeks Range 63.07 - 136.31
Updated Date 09/23/2026
Dividends yield (FY) 0.49%
Basic EPS (TTM) 0.85

How Company Makes Money

Business areaWhat it includesRetail investor read
Sterilization/Validation ConsumablesBiological and chemical indicators for healthcare and pharma sterilization verification.This is the 'razor-and-blade' model, providing consistent recurring revenue from required compliance testing.
Calibration and Monitoring EquipmentDevices for monitoring temperature, pressure, and humidity in controlled industrial and lab environments.These are capital equipment sales that serve as the foundation for ongoing monitoring needs.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 158.39
Forward PE 34.48
Enterprise Value 854.86M
Price to Sales(TTM) 3.02
Enterprise Value 854.86M
Price to Sales(TTM) 3.02
Enterprise Value to Revenue 3.42
Enterprise Value to EBITDA 19.8
Shares Outstanding 5.60M
Shares Floating 4.95M
Shares Outstanding 5.60M
Shares Floating 4.95M
Percent Insiders 5.62
Percent Institutions 96.04

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Mesa Laboratories Inc

Exchange NASDAQ
Headquarters Lakewood, CO, United States
IPO Launch date 1995-01-25
CEO, President & Director Dr. Siddhartha Chandrakant Kadia B.E., M.S., Ph.D.
Sector Technology
Industry Scientific & Technical Instruments
Full time employees 717
Full time employees 717

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 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.