LABCORP HOLDINGS INC. LH
Labcorp® Holdings Inc. is a global leader of innovative and comprehensive laboratory services that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. The Company provides insights and accelerates innovations to improve health and improve lives through its unparalleled diagnostics and drug development laboratory capabilities. During 2025, the Company's nearly 71,000 employees served clients in approximately 100 countries and performed more than 750 million tests for patients around the world. In addition, the Company provided support for more than 85% of the new drugs and therapeutic products approved in 2025 by the FDA.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.95B | $13.01B | $12.16B | $11.86B | $13.14B | $13.98B | $11.55B | $11.33B | $10.31B | $9.55B |
| Cost of revenue | $9.94B | $9.38B | $8.80B | $8.15B | $8.14B | $9.03B | $8.30B | $8.16B | $7.22B | $6.70B |
| Gross profit | $4.01B | $3.62B | $3.36B | $3.71B | $4.99B | $4.95B | $3.25B | $3.18B | $3.09B | $2.85B |
| SG&A | $2.22B | $2.23B | $2.02B | $1.76B | $1.69B | $1.73B | $1.62B | $1.57B | $1.50B | $1.35B |
| Operating income | $1.38B | $1.09B | $725.6M | $1.44B | $3.05B | $2.45B | $1.33B | $1.33B | $1.31B | $1.27B |
| Interest expense | $224.1M | $208.3M | $199.6M | $179.8M | $211.8M | $207.4M | $240.7M | $244.2M | $235.1M | $219.1M |
| Pre-tax income | $1.11B | $958.4M | $606.5M | $1.51B | $3.07B | $2.22B | $1.10B | $1.27B | $1.38B | $1.07B |
| Income tax | $229.8M | $212.4M | $188.5M | $233.9M | $690.0M | $662.1M | $280.0M | $384.4M | $155.4M | $360.7M |
| Net income | $877.0M | $746.0M | $418.0M | $1.28B | $2.38B | $1.56B | $823.8M | $883.7M | $1.23B | $711.8M |
| EPS, basic | 10.54 | 8.89 | 4.80 | 14.05 | 24.60 | 15.99 | 8.42 | 8.71 | 11.99 | 6.94 |
| EPS, diluted | 10.46 | 8.84 | 4.77 | 13.97 | 24.39 | 15.88 | 8.35 | 8.61 | 11.81 | 6.82 |
| Shares, diluted (wtd. avg.) | $83.8M | $84.4M | $87.6M | $91.6M | $97.5M | $98.0M | $98.6M | $102.6M | $103.9M | $104.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $532.3M | $1.52B | $536.8M | $320.6M | $1.38B | $1.32B | $337.5M | $426.8M | $316.6M | $433.6M |
| Receivables | $2.10B | $1.94B | $1.91B | $1.79B | $2.26B | $2.48B | $1.54B | $1.47B | $1.53B | $1.33B |
| Inventory | $534.7M | $493.2M | $474.6M | $470.6M | $401.4M | $423.2M | $244.7M | $237.3M | $227.2M | $205.2M |
| Total current assets | $4.02B | $4.81B | $3.77B | $4.62B | $5.33B | $5.13B | $2.98B | $2.84B | $2.73B | $2.48B |
| Property, plant and equipment | $3.08B | $3.05B | $2.91B | $2.79B | $2.82B | $2.73B | $2.64B | $1.74B | $1.71B | $1.72B |
| Goodwill | $6.79B | $6.37B | $6.14B | $6.12B | $5.89B | $7.75B | $7.87B | $7.36B | $7.40B | $6.42B |
| Other intangibles | $3.60B | $3.49B | $3.34B | $3.12B | $3.74B | $3.96B | $4.03B | $3.91B | $4.17B | $3.40B |
| Total assets | $18.39B | $18.38B | $16.73B | $20.16B | $20.39B | $20.07B | $18.05B | $16.19B | $16.67B | $14.25B |
| Accounts payable | $840.8M | $875.8M | $827.5M | $852.2M | $621.3M | $638.9M | $632.3M | $634.6M | $573.9M | $508.4M |
| Short-term debt | $500.1M | $1.00B | $999.8M | $301.3M | $1.5M | $376.7M | $415.2M | $10.0M | $417.5M | $549.5M |
| Total current liabilities | $2.82B | $3.33B | $3.23B | $3.08B | $2.78B | $3.08B | $2.66B | $1.88B | $2.19B | $1.83B |
| Long-term debt | $5.08B | $5.33B | $4.05B | $5.04B | $5.42B | $5.42B | $5.79B | $5.99B | $6.34B | $5.30B |
| Total liabilities | $9.76B | $10.31B | $8.83B | $10.04B | $10.09B | $10.61B | $10.46B | $9.19B | $9.85B | $8.73B |
| Retained earnings | $8.64B | $8.30B | $7.89B | $10.58B | $10.46B | $9.48B | $7.98B | $7.16B | $6.20B | $4.97B |
| Total equity | $8.62B | $8.05B | $7.88B | $10.10B | $10.27B | $9.44B | $7.64B | $7.05B | $6.80B | $5.52B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.64B | $1.59B | $1.33B | $1.96B | $3.11B | $2.14B | $1.44B | $1.31B | $1.50B | $1.20B |
| Depreciation and amortisation | $681.1M | $643.5M | $577.3M | $537.2M | $577.0M | $624.7M | $577.2M | $552.1M | $533.2M | $499.2M |
| Stock-based compensation | $125.8M | $116.7M | $128.7M | $116.8M | $132.9M | $111.7M | $107.0M | $91.6M | $109.7M | $109.6M |
| Capital expenditure | $434.5M | $489.9M | $453.6M | $429.3M | $421.5M | $381.7M | $400.2M | $379.8M | $312.9M | $278.9M |
| Investing cash flow | -$1.19B | -$1.37B | -$1.17B | -$1.65B | -$884.6M | -$643.2M | -$1.28B | $206.7M | -$2.23B | -$795.7M |
| Financing cash flow | -$1.46B | $779.9M | -$59.3M | -$1.32B | -$2.07B | -$517.4M | -$252.7M | -$1.39B | $593.2M | -$671.0M |
| Dividends paid | $240.7M | $243.1M | $254.0M | $195.2M | — | — | — | — | — | — |
| Buybacks | $450.0M | $250.1M | $1.00B | $1.10B | $1.67B | $100.0M | $450.0M | $700.0M | $338.1M | $43.9M |
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 0001193125-26-150752.
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