QUEST DIAGNOSTICS INC DGX

Healthcare SIC 8071 - Services-Medical Laboratories NAICS Health Care and Social Assistance › Ambulatory Health Care Services › Medical and Diagnostic Laboratories › Medical Laboratories derived NYSE

Quest Diagnostics works across the healthcare ecosystem to create a healthier world, one life at a time. We provide diagnostic insights from the results of our laboratory testing to empower people, physicians, and organizations to take action to improve health outcomes. Derived from one of the world's largest databases of de-identifiable clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve healthcare management. In the right hands and with the right context, our diagnostic insights can inspire actions that transform lives and create a healthier world.

The patients we serve annually comprise approximately one-third of the adult population of the United States, and over a three-year period, we serve approximately one-half of the adult population of the United States. We estimate that annually we serve approximately half of the physicians and half of the hospitals in the United States.

Last close 241.89 2026-10-23
Market cap $26.70B 2026-06-30 share count
52-week range 171.18 - 248.84

Valuation FY2025 figures against the last close

P/S2.4x
P/E27.6x
P/FCF19.6x
EV/EBITDA15.0x
Dividend yield1.3%
Diluted EPS8.75

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $11.04B$9.87B$9.25B$9.88B$10.79B$9.44B$7.73B$7.53B$7.40B$7.21B
Cost of revenue $7.37B$6.63B$6.20B$6.45B$6.58B$5.80B$5.04B$4.93B$4.72B$4.62B
Gross profit $3.67B$3.24B$3.05B$3.43B$4.21B$3.63B$2.69B$2.60B$2.68B$2.90B
SG&A $1.97B$1.77B$1.64B$1.87B$1.73B$1.55B$1.46B$1.42B$1.44B$1.38B
Total operating expenses $9.48B$8.53B$7.99B$8.46B$8.41B$7.47B$6.50B$6.43B$6.24B$5.94B
Operating income $1.56B$1.35B$1.26B$1.43B$2.38B$1.97B$1.23B$1.10B$1.17B$1.28B
Interest expense $264.0M$201.0M$152.0M$138.0M$152.0M$166.0M$180.0M$169.0M$153.0M$144.0M
Pre-tax income $1.32B$1.18B$1.13B$1.24B$2.60B$1.88B$1.08B$926.0M$1.03B$1.09B
Income tax $314.0M$273.0M$248.0M$264.0M$597.0M$460.0M$247.0M$182.0M$241.0M$429.0M
Net income $1.05B$921.0M$908.0M$1.01B$2.08B$1.43B$858.0M$736.0M$772.0M$645.0M
EPS, basic 8.877.787.598.1015.8510.626.365.395.634.58
EPS, diluted 8.757.697.497.9715.5510.476.285.295.504.51
Shares, diluted (wtd. avg.) 113.0M113.0M113.0M118.0M128.0M136.0M136.0M139.0M140.0M142.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $420.0M$549.0M$686.0M$315.0M$872.0M$1.16B$1.19B$135.0M$137.0M$384.0M
Receivables $1.41B$1.30B$1.21B$1.20B$1.44B$1.52B$1.06B$1.01B$924.0M$926.0M
Inventory $189.0M$188.0M$190.0M$192.0M$208.0M$223.0M$123.0M$99.0M$95.0M$82.0M
Total current assets $2.38B$2.39B$2.37B$1.90B$2.74B$3.06B$2.49B$1.39B$1.31B$1.53B
Property, plant and equipment $2.20B$2.11B$1.82B$1.77B$1.71B$1.63B$1.45B$1.29B$1.15B$1.03B
Goodwill $8.95B$8.86B$7.73B$7.22B$7.09B$6.87B$6.62B$6.56B$6.33B$6.00B
Other intangibles $1.64B$1.76B$1.17B$1.09B$1.17B$1.17B$1.12B$1.21B$1.12B$949.0M
Total assets $16.23B$16.15B$14.02B$12.84B$13.61B$14.03B$12.84B$11.00B$10.50B$10.10B
Accounts payable $1.60B$1.39B$1.36B$1.40B$1.60B$1.63B$1.04B$1.02B$1.02B$975.0M
Short-term debt $504.0M$602.0M$303.0M$2.0M$2.0M$2.0M$804.0M$464.0M$36.0M$6.0M
Total current liabilities $2.28B$2.17B$1.81B$1.55B$1.75B$1.78B$1.99B$1.49B$1.06B$981.0M
Long-term debt $5.17B$5.62B$4.41B$3.98B$4.01B$4.01B$3.97B$3.43B$3.75B$3.73B
Retained earnings $9.99B$9.36B$8.82B$8.29B$7.65B$9.30B$8.17B$7.60B$7.14B$6.61B
Total equity $7.17B$6.78B$6.34B$5.93B$6.48B$6.81B$5.69B$5.27B$4.96B$4.66B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.89B$1.33B$1.27B$1.72B$2.23B$2.00B$1.24B$1.20B$1.18B$1.12B
Depreciation and amortisation $570.0M$493.0M$439.0M$437.0M$408.0M$361.0M$329.0M$309.0M$270.0M$249.0M
Stock-based compensation $88.0M$88.0M$77.0M$77.0M$79.0M$97.0M$56.0M$61.0M$79.0M$69.0M
Capital expenditure $527.0M$425.0M$408.0M$404.0M$403.0M$418.0M$400.0M$383.0M$252.0M$293.0M
Investing cash flow -$631.0M-$2.55B-$1.06B-$543.0M$21.0M-$772.0M-$411.0M-$801.0M-$830.0M-$127.0M
Financing cash flow -$1.39B$1.08B$160.0M-$1.73B-$2.54B-$1.27B$225.0M-$401.0M-$592.0M-$738.0M
Dividends paid $353.0M$331.0M$314.0M$305.0M$309.0M$297.0M$286.0M$266.0M$247.0M$223.0M
Buybacks $450.0M$151.0M$275.0M$1.41B$2.20B$325.0M$353.0M$322.0M$465.0M$590.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-013356.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B Revenue, FY2016: 7.2B Gross profit, FY2016: 2.9B Net income, FY2016: 645M Revenue, FY2017: 7.4B Gross profit, FY2017: 2.7B Net income, FY2017: 772M Revenue, FY2018: 7.5B Gross profit, FY2018: 2.6B Net income, FY2018: 736M Revenue, FY2019: 7.7B Gross profit, FY2019: 2.7B Net income, FY2019: 858M Revenue, FY2020: 9.4B Gross profit, FY2020: 3.6B Net income, FY2020: 1.4B Revenue, FY2021: 10.8B Gross profit, FY2021: 4.2B Net income, FY2021: 2.1B Revenue, FY2022: 9.9B Gross profit, FY2022: 3.4B Net income, FY2022: 1B Revenue, FY2023: 9.3B Gross profit, FY2023: 3.1B Net income, FY2023: 908M Revenue, FY2024: 9.9B Gross profit, FY2024: 3.2B Net income, FY2024: 921M Revenue, FY2025: 11B Gross profit, FY2025: 3.7B Net income, FY2025: 1B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $7.21B $7.40B $7.53B $7.73B $9.44B $10.79B $9.88B $9.25B $9.87B $11.04B
Gross profit $2.90B $2.68B $2.60B $2.69B $3.63B $4.21B $3.43B $3.05B $3.24B $3.67B
Net income $645.0M $772.0M $736.0M $858.0M $1.43B $2.08B $1.01B $908.0M $921.0M $1.05B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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