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In Vitro & In Vivo Diagnostic Substances: capital spending and supply chain
SIC 2835 · 12 companies with filed cash-flow statements
Analysis
12 companies in In Vitro & In Vivo Diagnostic Substances (SIC 2835) spent $316M on capital projects over their latest twelve months, 25% of the $1.2B their operations generated; the three largest spenders — QDEL, IDXX, NEOG — account for 87%.
Capital spending is 3.0% of the industry's $10.7B of annual revenue.
By the industry's asset mix most of it goes to equipment (44%); about $44.0M is imported.
The largest supplier of that spending is manufacturing structures ($73.1M).
Its largest supplying industries, by the input-output tables: imports ($1.4B), drugs and druggists' sundries ($941M), biological product (except diagnostic) manufacturing ($711M).
Charts
Capital spending by company
| Company | Capital spending | Operating cash flow | Capex / OCF | Period |
|---|---|---|---|---|
| QDEL QuidelOrtho | $125M | $7.9M | 1582% | TTM to Q3 2026 |
| IDXX Idexx Laboratories | $115M | $1.4B | 8% | TTM to Q3 2026 |
| NEOG Neogen | $35.5M | $85.3M | 42% | TTM to Q1 FY27 |
| LNTH Lantheus Holdings | $16.4M | $409M | 4% | TTM to Q3 2026 |
| CLDX Celldex Therapeutics | $7.8M | −$252M | — | TTM to Q3 2026 |
| Ionetix | $6.8M | −$12.9M | — | TTM to Q2 2026 |
| IMDX Insight Molecular Diagnostics | $3.9M | −$27.1M | — | TTM to Q2 2026 |
| NTLA Intellia Therapeutics | $2.9M | −$355M | — | TTM to Q3 2026 |
| ICCC Immucell | $1.7M | $5.9M | 28% | TTM to Q2 2026 |
| TKNO Alpha Teknova | $814K | −$5.6M | — | TTM to Q3 2026 |
| VNRX Volitionrx | $22K | −$19.6M | — | TTM to Q2 2026 |
| CDIO Cardio Diagnostics Holdings | $2K | −$5.8M | — | TTM to Q3 2026 |
Customers and suppliers named in annual reports
| Supplier | Customer | Share of supplier revenue | Evidence | Source |
|---|---|---|---|---|
| MYGN | Medicare & Medicaid | 10% | Stated in 10-K (sentence) | filing |
| TMO | IDXX | — | Stated in 10-K (named, share not stated) | filing |
| BIO | IMDX | — | Stated in 10-K (named, share not stated) | filing |
The interactive money flow: switch views, follow each dollar →
Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.