Quest Diagnostics vs Labcorp
Labcorp is the larger business, with $13.95bn of revenue in fiscal 2025 against $11.04bn for Quest Diagnostics (1.3 times as much). Quest Diagnostics grew faster (11.8% against 7.2%). Quest Diagnostics kept more of each dollar of sales as profit: a net margin of 9.0% against 6.3%.
| Latest fiscal year | Quest DiagnosticsDGX, 2025 | LabcorpLH, 2025 |
|---|---|---|
| Revenue | $11.04bn | $13.95bn |
| Revenue growth | 11.8% | 7.2% |
| Net income | $992m | $877m |
| Operating margin | — | 9.9% |
| Net margin | 9.0% | 6.3% |
| Return on equity | 14.2% | 10.5% |
| Free cash flow | $1.36bn | $1.21bn |
| Cash | $420m | $532m |
| Total debt | $5.67bn | $5.58bn |
| Debt to equity | — | 64.8% |
| Dividend per share | — | $2.88 |
| Dividend yield | 1.3% | 0.8% |
| Share buybacks | $450m | $450m |
| Employees | 57,000 | — |
| Market value | $27.47bn | $28.61bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 70 (Strong) | 61 (Moderate) |
| Insider trades, 12 months | 0 buys, 29 sales | 0 buys, 20 sales |