Labcorp Holdings Inc.

LH · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988
Valuation
Market cap	$20,798	$19,180	$19,297	$20,864	$30,070	$19,480	$16,190	$12,093	$15,265	$12,286	$11,832	$7,860	$6,727	$6,957	$7,223	$7,734	$7,014	$6,180	$7,583	$7,828	$6,182	$5,976	$4,569	$2,855	$4,833	$1,983	$424	$149	$185	$303	$900	$952	$1,095	$1,450	$2,486	$940	$1,069	$680
Enterprise value	$27,487	$24,949	$24,730	$26,808	$34,960	$24,936	$22,980	$17,745	$21,731	$17,717	$17,495	$10,328	$9,342	$9,229	$9,304	$9,784	$8,260	$7,803	$9,084	$8,799	$7,268	$6,661	$5,330	$3,320	$5,192	$2,420	$962	$774	$851	$1,554	$1,895	$1,528	$1,403	$1,562	$2,435	$916	$1,037	–
P/E (TTM) at period end	23.73×	25.71×	46.16×	16.31×	12.65×	12.52×	19.65×	13.68×	12.44×	17.26×	27.04×	15.38×	11.72×	11.93×	13.90×	13.86×	12.91×	13.31×	15.90×	18.14×	16.01×	16.46×	14.23×	11.21×	26.92×	17.69×	6.49×	2.16×	–	–	–	31.62×	9.71×	35.71×	23.93×	11.38×	16.52×	13.86×
P/S (TTM) at period end	1.49×	1.47×	1.59×	1.76×	2.29×	1.39×	1.40×	1.07×	1.48×	1.29×	1.36×	1.31×	1.16×	1.23×	1.30×	1.55×	1.49×	1.37×	1.86×	2.18×	1.86×	1.94×	1.55×	1.14×	2.20×	1.03×	0.25×	0.09×	0.12×	0.19×	0.63×	1.09×	1.44×	2.01×	4.12×	1.87×	2.66×	2.17×
P/B at period end	2.41×	2.38×	2.45×	2.07×	2.93×	2.06×	2.12×	1.72×	2.24×	2.23×	2.39×	2.79×	2.70×	1.41×	2.88×	3.14×	3.33×	3.66×	4.40×	3.96×	3.28×	2.99×	2.41×	1.77×	4.45×	2.26×	0.58×	0.22×	0.29×	1.17×	2.19×	5.73×	7.78×	6.82×	7.52×	3.66×	3.24×	–
EV / EBITDA (TTM)	13.31×	14.42×	18.98×	13.58×	9.64×	8.12×	12.05×	9.45×	11.82×	10.01×	12.03×	8.93×	7.65×	7.36×	7.89×	8.27×	7.30×	7.63×	9.67×	10.33×	9.46×	9.04×	7.96×	6.19×	11.01×	7.12×	4.11×	3.65×	–	–	13.57×	9.90×	6.45×	6.88×	12.46×	5.77×	8.22×	–
EV / Sales (TTM)	1.97×	1.92×	2.03×	2.26×	2.66×	1.78×	1.99×	1.57×	2.11×	1.85×	2.02×	1.72×	1.61×	1.63×	1.68×	1.96×	1.76×	1.73×	2.23×	2.45×	2.18×	2.16×	1.81×	1.32×	2.36×	1.26×	0.57×	0.48×	0.56×	0.97×	1.32×	1.75×	1.85×	2.17×	4.03×	1.83×	2.58×	–
Returns
Return on equity	10.2%	9.3%	5.3%	12.7%	23.1%	16.5%	10.8%	12.5%	18.0%	12.9%	8.8%	18.1%	23.0%	11.8%	20.8%	22.6%	25.8%	27.5%	27.6%	21.8%	20.5%	18.2%	16.9%	15.8%	16.5%	12.8%	8.9%	10.1%	(17.0%)	(59.5%)	(3.0%)	18.1%	80.0%	19.1%	31.4%	32.2%	19.6%	–
Return on invested capital	7.2%	6.1%	3.7%	7.3%	15.3%	11.5%	6.9%	7.3%	9.9%	7.7%	5.7%	10.7%	12.2%	8.8%	12.8%	13.6%	17.5%	15.3%	13.8%	13.5%	12.5%	13.1%	11.9%	12.3%	14.0%	10.3%	7.3%	8.2%	(4.7%)	(5.2%)	–	8.0%	24.3%	40.3%	38.1%	36.3%	22.7%	–
Dividend yield	1.2%	1.3%	1.3%	0.9%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.5%	4.4%	12.4%	5.2%	–	52.7%	1.4%	2.6%	2.0%	1.0%	16.0%	–	–
Financial health
Current ratio	1.42×	1.44×	1.17×	1.50×	1.92×	1.66×	1.12×	1.51×	1.25×	1.36×	1.54×	1.73×	1.95×	1.35×	1.45×	1.02×	0.92×	1.89×	0.97×	0.95×	0.79×	2.46×	0.87×	2.64×	3.10×	1.64×	2.03×	2.06×	2.68×	2.85×	1.71×	1.44×	1.52×	1.22×	1.90×	1.31×	3.57×	–
Debt / equity	0.65×	0.79×	0.64×	0.53×	0.53×	0.61×	0.81×	0.85×	0.99×	1.06×	1.29×	1.07×	1.20×	0.54×	0.89×	0.89×	0.66×	1.02×	0.97×	0.59×	0.61×	0.44×	0.46×	0.32×	0.46×	0.55×	0.79×	0.95×	1.09×	4.96×	2.46×	3.63×	2.28×	0.68×	–	0.09×	–	–
Effective tax rate	20.7%	22.1%	33.1%	18.9%	23.9%	29.8%	25.3%	30.3%	(14.4%)	33.6%	39.6%	38.0%	37.2%	38.1%	38.4%	37.6%	37.2%	39.9%	40.6%	40.1%	39.7%	41.0%	40.6%	41.1%	45.0%	46.0%	38.0%	15.6%	33.7%	18.5%	229.0%	45.7%	41.0%	34.6%	38.6%	39.8%	40.0%	–
Share count
Diluted shares outstanding	84	84	88	92	98	98	99	103	104	104	101	86	92	97	102	105	109	112	121	133	143	148	152	144	141	56	54	50	49	49	45	34	36	38	40	40	40	40

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988
Revenue and gross profit
Revenue	$14,348	$13,952	$13,009	$12,162	$11,864	$13,136	$13,978	$11,555	$11,333	$10,308	$9,553	$8,680	$6,012	$5,808	$5,671	$5,542	$5,004	$4,695	$4,505	$4,068	$3,591	$3,328	$3,085	$2,939	$2,508	$2,200	$1,919	$1,699	$1,613	$1,519	$1,608	$1,432	$872	$760	$721	$604	$502	$402	$314
Cost of revenue	($10,204)	($9,939)	($9,384)	($8,797)	($8,155)	($8,144)	($9,026)	($8,302)	($8,157)	($7,216)	($6,699)	($5,777)	($3,808)	($3,585)	($3,422)	($3,268)	($2,906)	($2,724)	($2,631)	($2,377)	($2,061)	($1,937)	($1,796)	($1,715)	($1,446)	($1,274)	($1,097)	($1,016)	($996)	($1,024)	($1,129)	($979)	($569)	($421)	($376)	($310)	($261)	($211)	–
Gross profit	$4,144	$4,012	$3,624	$3,365	$3,709	$4,992	$4,953	$3,252	$3,176	$3,092	$2,854	$2,903	$2,203	$2,223	$2,250	$2,275	$2,098	$1,971	$1,874	$1,691	$1,529	$1,390	$1,289	$1,225	$1,062	$926	$823	$682	$617	$495	$479	$453	$304	$339	$345	$293	$241	$191	–
Operating expenses
Research and development	–	–	–	($2)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($2,219)	($2,216)	($2,230)	($2,021)	($1,763)	($1,690)	($1,729)	($1,624)	($1,571)	($1,499)	($1,346)	($1,628)	($1,198)	($1,129)	($1,115)	($1,160)	($1,034)	($959)	($935)	($809)	($779)	($704)	($649)	($652)	($586)	($516)	($483)	($448)	($405)	($500)	($490)	($314)	($149)	($121)	($118)	($98)	($82)	($65)	–
Total operating expenses	($2,648)	($2,628)	($2,538)	($2,639)	($2,272)	($1,944)	($2,507)	($1,922)	($1,851)	($1,787)	($1,583)	($1,906)	($1,293)	($1,232)	($1,226)	($1,326)	($1,119)	($1,035)	($1,031)	($914)	($832)	($772)	($691)	($691)	($627)	($558)	($573)	($533)	($489)	($587)	($574)	($386)	($194)	($154)	($145)	($120)	($101)	($78)	–
Total costs and expenses	($12,851)	($12,567)	($11,922)	($11,436)	($10,427)	($10,088)	($11,533)	($10,225)	($10,008)	($9,003)	($8,282)	($7,683)	($5,101)	($4,817)	($4,648)	($4,594)	($4,025)	($3,759)	($3,662)	($3,291)	($2,894)	($2,710)	($2,486)	($2,406)	($2,073)	($1,832)	($1,669)	($1,549)	($1,485)	($1,611)	($1,704)	($1,365)	($763)	($575)	($521)	($430)	($362)	($290)	–
Operating income	$1,497	$1,385	$1,087	$726	$1,436	$3,049	$2,445	$1,330	$1,326	$1,305	$1,271	$997	$910	$991	$1,024	$948	$979	$936	$843	$777	$697	$618	$598	$534	$435	$368	$250	$150	$128	($92)	($96)	$67	$110	$186	$200	$174	$140	$113	$314
Earnings
EBITDA	$2,193	$2,066	$1,730	$1,303	$1,974	$3,626	$3,070	$1,907	$1,878	$1,838	$1,770	$1,455	$1,156	$1,221	$1,253	$1,180	$1,182	$1,131	$1,023	$940	$852	$768	$737	$669	$537	$472	$340	$234	$212	($5)	($11)	$140	$154	$218	$227	$196	$159	$126	–
Interest income	$25	$15	$22	$29	$8	$9	$10	$9	$8	$2	$2	$2	$1	$2	$1	$1	$1	$2	$2	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($227)	($224)	($208)	($200)	($180)	($212)	($207)	($241)	($244)	($235)	($219)	($275)	($110)	($96)	($94)	($88)	($70)	($63)	($72)	($57)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$1,234	$1,108	$960	$569	$1,237	$2,888	$2,219	$1,105	$1,268	$1,078	$1,074	$726	$827	$916	$944	$866	$916	$885	$772	$802	$721	$641	$615	$540	$432	$332	$208	$106	$82	($161)	($188)	$3	$55	$191	$62	$169	$137	$108	–
Income tax expense	($230)	($230)	($212)	($188)	($234)	($690)	($662)	($280)	($384)	$155	($361)	($287)	($314)	($340)	($359)	($333)	($344)	($329)	($308)	($326)	($289)	($254)	($252)	($219)	($178)	($150)	($96)	($40)	($13)	$54	$35	($7)	($25)	($78)	($22)	($65)	($54)	($43)	–
Net income	$1,002	$876	$746	$418	$1,279	$2,377	$1,556	$824	$884	$1,227	$712	$438	$511	$574	$583	$520	$558	$543	$464	$477	$432	$386	$363	$321	$255	$180	$112	$65	$69	($107)	($154)	($12)	$30	$113	$41	$104	$83	$65	$49
Per share
Diluted EPS (GAAP)	$12.09	$10.46	$8.84	$4.77	$13.97	$24.39	$15.88	$8.35	$8.61	$11.81	$6.82	$4.35	$5.91	$6.25	$5.99	$5.11	$5.29	$4.98	$4.16	$3.93	$3.24	$2.71	$2.45	$2.11	$1.77	$1.27	$0.81	$0.29	$0.50	($2.17)	($3.12)	($0.27)	$0.90	$3.15	$1.08	$2.63	$2.08	$1.63	$1.25
Basic EPS (GAAP)	$12.17	$10.54	$8.89	$4.80	$14.05	$24.60	$15.99	$8.42	$8.71	$11.99	$6.94	$4.43	$6.03	$6.36	$6.09	$5.20	$5.42	$5.06	$4.23	$4.08	$3.48	$2.89	$2.60	$2.23	$1.78	$1.29	$0.83	$0.30	$0.50	($2.17)	($3.12)	($0.27)	$0.90	$3.15	$1.08	$2.63	$2.08	$1.63	$1.25
Basic shares outstanding	82	83	84	87	91	97	97	98	101	102	102	99	85	90	96	100	103	107	110	117	124	134	140	144	143	139	52	54	50	49	49	45	33	36	38	40	40	40	40
Margins
Gross margin	28.9%	28.8%	27.9%	27.7%	31.3%	38.0%	35.4%	28.1%	28.0%	30.0%	29.9%	33.4%	36.6%	38.3%	39.7%	41.0%	41.9%	42.0%	41.6%	41.6%	42.6%	41.8%	41.8%	41.7%	42.3%	42.1%	42.9%	40.2%	38.2%	32.6%	29.8%	31.6%	34.8%	44.6%	47.8%	48.6%	48.0%	47.5%	–
Operating margin	10.4%	9.9%	8.4%	6.0%	12.1%	23.2%	17.5%	11.5%	11.7%	12.7%	13.3%	11.5%	15.1%	17.1%	18.0%	17.1%	19.6%	19.9%	18.7%	19.1%	19.4%	18.6%	19.4%	18.2%	17.3%	16.7%	13.0%	8.8%	7.9%	(6.1%)	(6.0%)	4.7%	12.6%	24.4%	27.7%	28.7%	28.0%	28.0%	100.0%
Net margin	7.0%	6.3%	5.7%	3.4%	10.8%	18.1%	11.1%	7.1%	7.8%	11.9%	7.5%	5.0%	8.5%	9.9%	10.3%	9.4%	11.2%	11.6%	10.3%	11.7%	12.0%	11.6%	11.8%	10.9%	10.2%	8.2%	5.8%	3.9%	4.3%	(7.0%)	(9.5%)	(0.9%)	3.4%	14.8%	5.6%	17.2%	16.5%	16.1%	15.6%

Analyst consensus

Buy35 analysts

Bearish · 0 · Hold · 9 · Bullish · 26

Earnings history

	EPS	Estimate
Q3 2024	$3.50	$3.47	Beat
Q4 2024	$3.45	$3.39	Beat
Q1 2025	$3.84	$3.74	Beat
Q2 2025	$4.35	$4.17	Beat
Q3 2025	$4.18	$4.13	Beat
Q4 2025	$4.07	$3.95	Beat
Q1 2026	$4.25	$4.11	Beat
Q2 2026	$4.99	$4.78	Beat

Peers

Company overview

IPO dateMar 29, 1990

CEOAdam H. Schechter

Employees71,000

SectorHealthcare

IndustryMedical - Diagnostics & Research

CountryUS

ExchangeNew York Stock Exchange

Websitewww.labcorp.com

Labcorp Holdings, Inc. offers vital diagnostic laboratory services, enabling medical professionals, healthcare facilities, pharmaceutical firms, scientific investigators, and patients to make well-informed and confident choices. The company commenced operations on April 16, 2024, and its main office is situated in Burlington, NC.

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