LHNYSEServices-Medical LaboratoriesFiscal year ends December 31
LABCORP HOLDINGS INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$318.83+0.88 (+0.28%)
Close on Oct 19, 2026
- Market cap
- $26.14B
- P/E (TTM)
- 26.4
- Dividend yield
- 0.90%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
28.8%−6.7 pts over 5 years
Operating margin
9.9%−7.6 pts over 5 years
Net margin
6.3%−4.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.2% | +5.6% | -0.0% | +4.9% | |
| Gross profit | +10.7% | +2.7% | -4.1% | +3.3% | |
| Operating income | +27.4% | -1.2% | -10.8% | +3.3% | |
| Net income | +17.5% | -11.8% | -10.8% | +7.2% | |
| EPS, diluted | +18.3% | -9.2% | -8.0% | +9.2% | |
| Free cash flow | +10.0% | -7.6% | -7.2% | +5.2% | |
| Dividend per share | 0.0% | +10.1% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 13.6% | 18.2% | 10.5% | |
| Return on assets | 5.0% | 8.2% | 4.8% | |
| Current ratio | 1.36 | 1.66 | 1.42 | |
| Debt to equity | 1.06 | 0.61 | 0.65 | |
| Net debt to EBITDA | 3.06× | 1.46× | 2.45× | |
| Interest coverage | 5.8× | 11.8× | 6.2× | |
| Inventory turnover | 33.8× | 27.0× | 19.3× | |
| Capex to revenue | 2.9% | 2.7% | 3.1% | |
| Diluted shares | 104M | 98M | 84M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Labcorp generated $9.62B from operations and spent $7.63B on capital expenditure, dividends and share buybacks. 29% of that went back into the business.
Generated
$9.62B
Used
$7.63B
Capital expenditure$2.23B29%Dividends$933.00M12%Share buybacks$4.47B59%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin6.3%
×Asset turnover0.76×
×Equity multiplier2.21×
=Return on equity, FY202510.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.3% | 0.76× | 2.21× | 10.5% |
| FY2024 | 5.7% | 0.74× | 2.20× | 9.4% |
| FY2023 | 3.4% | 0.66× | 2.05× | 4.7% |
| FY2022 | 10.8% | 0.59× | 1.99× | 12.6% |
| FY2021 | 18.1% | 0.65× | 2.05× | 24.1% |
| FY2020 | 11.1% | 0.73× | 2.23× | 18.2% |
| FY2019 | 7.1% | 0.68× | 2.33× | 11.2% |
| FY2018 | 7.8% | 0.69× | 2.37× | 12.8% |
| FY2017 | 11.9% | 0.67× | 2.51× | 19.9% |
| FY2016 | 7.5% | 0.67× | 2.71× | 13.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$876.50M
- Cash generatingOperating cash flow above zero$1.64B
- Return on assets improvedROA up on the prior year4.5% → 4.8%
- Earnings backed by cashOperating cash flow above net income$1.64B vs $876.50M
- Less leverageLong-term debt to assets fell29.0% → 27.6%
- Better liquidityCurrent ratio rose1.44 → 1.42
- No dilutionShare count did not rise84M → 84M
- Gross margin improvedGross margin up on the prior year27.86% → 28.76%
- More efficientAsset turnover rose0.78 → 0.76