Fulgent Genetics vs Mesa Laboratories
Fulgent Genetics is the larger business, with $323m of revenue in fiscal 2025 against $249m for Mesa Laboratories (1.3 times as much). Fulgent Genetics grew faster (13.8% against 3.4%). Mesa Laboratories kept more of each dollar of sales as profit: a net margin of 2.7% against -18.8%. Fulgent Genetics carries less debt relative to equity (0.2% against 36.2%).
| Latest fiscal year | Fulgent GeneticsFLGT, 2025 | Mesa LaboratoriesMLAB, 2026 |
|---|---|---|
| Revenue | $323m | $249m |
| Revenue growth | 13.8% | 3.4% |
| Net income | −$60.5m | $6.7m |
| Operating margin | -28.2% | 7.4% |
| Net margin | -18.8% | 2.7% |
| Return on equity | -5.4% | 3.9% |
| Free cash flow | −$124m | $39.6m |
| Cash | $50.2m | $26.9m |
| Total debt | $2.4m | $67.5m |
| Debt to equity | 0.2% | 36.2% |
| Dividend per share | — | $0.64 |
| Dividend yield | — | 0.5% |
| Share buybacks | $10.9m | — |
| Employees | — | 717 |
| Market value | $531m | $705m |
| Price vs our value range | — | Within our value range |
| Moat score | 23 (Weak) | 44 (Weak) |
| Insider trades, 12 months | 0 buys, 15 sales | 5 buys, 7 sales |