LABCORP HOLDINGS INC. LH

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

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.

Last close 328.95 2026-10-23
Market cap $26.68B 2026-06-30 share count
52-week range 244.52 - 341.80

Valuation FY2025 figures against the last close

P/S1.9x
P/E31.4x
P/FCF22.1x
EV/EBITDA15.4x
Dividend yield0.9%
Diluted EPS10.46

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Diagnostics
  • Biopharma Laboratory Services
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Diagnostics, FY2025: 10.9B (77.8%) 78% Diagnostics Biopharma Laboratory Services, FY2025: 3.1B (22.2%) 22% Biopharma Laboratory Services FY2024 Diagnostics, FY2024: 10.1B (77.6%) 78% Biopharma Laboratory Services, FY2024: 2.9B (22.4%) 22% FY2023 Diagnostics, FY2023: 9.4B (77.2%) 77% Biopharma Laboratory Services, FY2023: 2.8B (22.8%) 23%
Segment FY2025FY2024FY2023
Diagnostics $10.88B $10.14B $9.42B
Biopharma Laboratory Services $3.10B $2.92B $2.77B

As the company reported it, from the “BUSINESS SEGMENT INFORMATION (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 10.548.894.8014.0524.6015.998.428.7111.996.94
EPS, diluted 10.468.844.7713.9724.3915.888.358.6111.816.82
Shares, diluted (wtd. avg.) 83.8M84.4M87.6M91.6M97.5M98.0M98.6M102.6M103.9M104.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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.

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: 9.6B Gross profit, FY2016: 2.9B Net income, FY2016: 711.8M Revenue, FY2017: 10.3B Gross profit, FY2017: 3.1B Net income, FY2017: 1.2B Revenue, FY2018: 11.3B Gross profit, FY2018: 3.2B Net income, FY2018: 883.7M Revenue, FY2019: 11.6B Gross profit, FY2019: 3.3B Net income, FY2019: 823.8M Revenue, FY2020: 14B Gross profit, FY2020: 5B Net income, FY2020: 1.6B Revenue, FY2021: 13.1B Gross profit, FY2021: 5B Net income, FY2021: 2.4B Revenue, FY2022: 11.9B Gross profit, FY2022: 3.7B Net income, FY2022: 1.3B Revenue, FY2023: 12.2B Gross profit, FY2023: 3.4B Net income, FY2023: 418M Revenue, FY2024: 13B Gross profit, FY2024: 3.6B Net income, FY2024: 746M Revenue, FY2025: 14B Gross profit, FY2025: 4B Net income, FY2025: 877M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $9.55B $10.31B $11.33B $11.55B $13.98B $13.14B $11.86B $12.16B $13.01B $13.95B
Gross profit $2.85B $3.09B $3.18B $3.25B $4.95B $4.99B $3.71B $3.36B $3.62B $4.01B
Net income $711.8M $1.23B $883.7M $823.8M $1.56B $2.38B $1.28B $418.0M $746.0M $877.0M

Recent filings and events

  • 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
  • Regulation FD disclosure Item 7.01
  • 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
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • 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

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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