Labcorp Holdings Inc. (LH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$4.77	$4.99	+4.6%	—	—	—
Q2 26	$4.12	$4.25	+3.2%	—	—	—
Q1 26	$4.14	$4.18	+1.0%	—	—	—
Q4 25	$4.16	$4.35	+4.6%	—	—	—
Q3 25	$3.73	$3.84	+2.9%	—	—	—
Q2 25	$3.39	$3.45	+1.8%	—	—	—
Q1 25	$3.49	$3.5	+0.3%	—	—	—
Q4 24	$3.77	$3.94	+4.5%	—	—	—
Q3 24	$3.48	$3.68	+5.7%	—	—	—
Q2 24	$3.26	$3.3	+1.2%	—	—	—
Q1 24	$3.33	$3.38	+1.5%	—	—	—
Q4 23	$3.45	$3.42	-0.9%	—	—	—
Q3 23	$3.96	$3.82	-3.5%	—	—	—
Q2 23	$4.14	$4.14	0.0%	—	—	—
Q1 23	$4.68	$4.68	0.0%	—	—	—
Q4 22	$4.68	$4.96	+6.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$10.5	—	—	$14B	—
FY24	—	$8.89	—	—	$13B	—
FY23	—	$4.8	—	—	$12.2B	—
FY22	—	$14.1	—	—	$11.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.6B	$10.3B	$11.3B	$11.6B	$14B	$13.1B	$11.9B	$12.2B	$13B	$14B
YoY change	+10.1%	+7.9%	+9.95%	+1.95%	+21%	-6.03%	-9.68%	+2.51%	+6.97%	+7.25%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.6B	10.3B	11.3B	11.6B	14B	13.1B	11.9B	12.2B	13B	14B
Cost of revenue	6.7B	7.2B	8.2B	8.3B	9B	8.1B	8.2B	8.8B	9.4B	9.9B
Gross profit	2.9B	3.1B	3.2B	3.3B	5B	5B	3.7B	3.4B	3.6B	4B
Gross margin	29.9%	30%	28%	28.1%	35.4%	38%	31.3%	27.7%	27.9%	28.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.3B	1.5B	1.6B	1.6B	1.7B	1.7B	1.8B	2B	2.2B	2.2B
Operating expenses	1.3B	1.5B	1.6B	1.6B	1.7B	1.7B	1.8B	2B	2.2B	2.2B
Operating income	1.3B	1.4B	1.4B	1.4B	2.9B	3.1B	1.8B	1.1B	1.1B	1.5B
Operating margin	13.9%	13.3%	12.1%	12%	21.1%	23.4%	14.8%	9.24%	8.75%	10.9%
Non-operating income, net	-36.3M	-63.5M	138.7M	-39.2M	-521.6M	26.8M	-335M	-355.2M	29.8M	-184.6M
Pretax income	1.1B	1.1B	1.3B	1.1B	2.2B	2.9B	1.2B	568.9M	959.5M	1.1B
Income tax	360.7M	-155.4M	384.4M	280M	662.1M	690M	233.9M	188.5M	212.4M	229.8M
Net income	712.9M	1.2B	883.9M	824.9M	1.6B	2.4B	1.3B	419.2M	747.1M	877.7M
Net margin	7.46%	12%	7.8%	7.14%	11.1%	18.1%	10.8%	3.45%	5.74%	6.29%
EBITDA	1.8B	1.9B	2.1B	2B	3.5B	3.7B	2.3B	1.7B	1.8B	2.1B
EPS	7.14	12.4	8.71	8.42	16	24.6	14.1	4.8	8.89	10.5
Diluted EPS	7.02	12.2	8.61	8.35	15.9	24.4	14	4.77	8.84	10.5

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.1B	3B	3.2B	3.2B	3.3B	3.3B	3.3B	3.5B	3.6B	3.5B	3.5B	3.7B
Cost of revenue	2.2B	2.2B	2.3B	2.3B	2.4B	2.4B	2.4B	2.5B	2.5B	2.5B	2.5B	2.6B
Gross profit	851.2M	821.4M	897.3M	926.4M	904.4M	896.3M	948M	1B	1B	993.2M	1B	1.1B
Gross margin	27.8%	27.1%	28.2%	28.8%	27.6%	26.9%	28.3%	29.7%	28.8%	28.2%	28.7%	29.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	525.5M	532.9M	508.4M	557.8M	568.6M	595.2M	546M	579.3M	552.4M	538.6M	551M	577.2M
Operating expenses	525.5M	532.9M	508.4M	557.8M	568.6M	595.2M	546M	579.3M	552.4M	538.6M	551M	577.2M
Operating income	270M	229.3M	328.8M	306.4M	272.1M	230.7M	332.4M	398.6M	403.2M	382M	387.2M	456.7M
Operating margin	8.83%	7.56%	10.4%	9.51%	8.29%	6.93%	9.94%	11.3%	11.3%	10.9%	10.9%	12.2%
Non-operating income, net	19M	-327.6M	15.5M	8.9M	-11.1M	16.5M	-1.2M	-36.8M	-10.2M	-136.4M	-12.4M	-9.2M
Pretax income	238.7M	-147.1M	297.4M	267.7M	210.6M	183.8M	275.2M	304.7M	337M	190.6M	319.7M	386.4M
Income tax	55.1M	19.7M	69.1M	62.1M	41M	40.2M	62.2M	66.4M	75.5M	25.7M	41.7M	87.3M
Net income	183.6M	-166.8M	228.3M	205.6M	169.6M	143.6M	213M	238.3M	261.5M	164.9M	278M	299.1M
Net margin	6.01%	-5.5%	7.19%	6.38%	5.17%	4.31%	6.37%	6.76%	7.34%	4.69%	7.86%	8.02%
EBITDA	435.5M	377.4M	500.8M	482.5M	449M	399.4M	497.9M	534.5M	567.1M	529.5M	542.3M	626M
EPS	2.12	-1.97	2.71	2.44	2.02	1.72	2.54	2.85	3.14	2	3.37	3.66
Diluted EPS	2.11	-1.97	2.69	2.43	2	1.7	2.52	2.84	3.12	1.98	3.35	3.64

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	11.3B	14B	11B	14.2B	17B	26.1B	18.4B	19.8B	19.2B	20.9B	25.1B
Enterprise value	16.7B	20.5B	16.6B	21B	22.5B	31B	24.4B	25.2B	25B	26.9B	31.8B
Shares outstanding	102.5M	102.4M	101.4M	97.9M	97.3M	96.7M	91.1M	87.1M	83.9M	83.2M	83.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	15.9	11.4	12.5	17.2	10.9	11	14.4	47.2	25.8	23.8	25.6
P/S	1.18	1.36	0.97	1.23	1.22	1.99	1.55	1.63	1.48	1.5	1.75
P/B	2.05	2.06	1.57	1.88	1.8	2.54	1.82	2.51	2.39	2.42	2.91
EV/EBITDA	9.05	10.7	7.9	10.7	6.34	8.39	10.8	14.7	13.6	12.6	13.7
EV/Sales	1.75	1.99	1.47	1.82	1.61	2.36	2.05	2.07	1.92	1.93	2.22
Earnings yield	6.31%	8.79%	8.03%	5.8%	9.15%	9.12%	6.95%	2.12%	3.88%	4.2%	3.9%
FCF yield	8.12%	8.43%	8.41%	7.34%	10.3%	10.3%	8.28%	4.42%	5.7%	5.78%	3.55%
PEG	—	—	—	—	—	—	—	—	—	—	0.9

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	29.9%	30%	28%	28.1%	35.4%	38%	31.3%	27.7%	27.9%	28.8%	29.8%
Operating margin	13.9%	13.3%	12.1%	12%	21.1%	23.4%	14.8%	9.24%	8.75%	10.9%	12.2%
Net margin	7.46%	12%	7.8%	7.14%	11.1%	18.1%	10.8%	3.45%	5.74%	6.29%	6.99%
ROE	12.9%	18.1%	12.6%	10.9%	16.5%	23.1%	12.7%	5.31%	9.26%	10.2%	11.7%
ROA	5%	7.39%	5.46%	4.57%	7.76%	11.7%	6.35%	2.51%	4.06%	4.77%	5.53%
ROIC	8.07%	10.4%	7.58%	7.2%	13.9%	15.4%	8.86%	5.65%	6.41%	8.21%	8.69%
Return on tangible assets	-13.2%	-19.1%	-13.9%	-14.3%	-46.4%	-79.2%	77.1%	-18.7%	-55.8%	-36.9%	-34.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.36	1.25	1.51	1.12	1.66	1.92	1.5	1.17	1.44	1.42	1.8
Quick ratio	1.24	1.15	1.38	1.03	1.53	1.77	1.35	1.02	1.3	1.23	1.53
Debt / equity	1.06	0.99	0.87	0.94	0.71	0.62	0.62	0.75	0.9	0.76	0.79
Debt / assets	0.41	0.41	0.37	0.39	0.34	0.31	0.31	0.36	0.4	0.35	0.37
Net debt / EBITDA	2.93	3.37	2.68	3.44	1.53	1.32	2.62	3.16	3.13	2.82	2.92
Interest coverage	5.9	5.58	6.19	5.59	11.7	14.6	7.88	3.85	5.61	5.94	6.43
Effective tax rate	33.6%	0%	30.3%	25.3%	29.8%	23.9%	18.9%	33.1%	22.1%	20.7%	18.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	93.2	100.7	111.8	118	143.7	135.8	130.2	139.6	155.1	167.7	174
EPS (basic)	7.14	12.4	8.71	8.42	16	24.6	14.1	4.8	8.89	10.5	10.5
EPS (diluted)	7.02	12.2	8.61	8.35	15.9	24.4	14	4.77	8.84	10.5	12.1
Book value per share	53.9	66.6	68.9	77.5	97.2	106.5	111	90.6	96.1	103.8	106.4
FCF per share	8.96	11.5	9.13	10.7	18	27.8	16.8	10	13.1	14.5	14.1
Cash per share	4.23	3.09	4.21	3.45	13.6	15.2	3.52	6.16	18.1	6.4	1.75
Capex per share	—	—	—	—	—	—	—	—	—	5.22	5.89

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	3.11%	3.37%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	26.5%	29.5%
Payout ratio	—	—	—	—	0%	0%	15.2%	60.6%	32.5%	27.4%	23.8%
Dividend yield	—	—	—	—	0%	0%	1.06%	1.28%	1.26%	1.15%	0.93%

Yield

0.93%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.72

ex-dividend Aug 28, 2026

Payout ratio

24%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 28, 2026	$0.72
May 29, 2026	$0.72
Feb 27, 2026	$0.72
Nov 26, 2025	$0.72
Aug 28, 2025	$0.72
May 29, 2025	$0.72
Feb 27, 2025	$0.72
Nov 26, 2024	$0.72

Split history

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.1B	$3B	$3.2B	$3.2B	$3.3B	$3.3B	$3.3B	$3.5B	$3.6B	$3.5B	$3.5B	$3.7B
YoY change	+6.63%	-17.4%	+4.57%	+6.17%	+7.37%	+9.76%	+5.3%	+9.51%	+8.58%	+5.6%	+5.75%	+5.78%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	433.6M	316.6M	426.8M	337.5M	1.3B	1.5B	320.6M	536.8M	1.5B	532.3M
Receivables	1.3B	1.5B	1.5B	1.5B	2.5B	2.3B	1.8B	1.9B	1.9B	2.1B
Inventory	205.2M	227.2M	237.3M	244.7M	423.2M	401.4M	470.6M	474.6M	493.2M	534.7M
Total current assets	2.5B	2.7B	2.8B	3B	5.1B	5.3B	4.6B	3.8B	4.8B	4B
Property, plant & equipment	1B	1B	1.1B	1.9B	1.8B	1.9B	1.8B	1.8B	1.9B	1.9B
Goodwill & intangibles	19.6B	23.1B	22.5B	23.8B	23.4B	23.4B	18.5B	19B	19.7B	20.8B
Total assets	14.2B	16.7B	16.2B	18B	20.1B	20.4B	20.2B	16.7B	18.4B	18.4B
Accounts payable	508.4M	573.9M	634.6M	632.3M	638.9M	621.3M	852.2M	827.5M	875.8M	840.8M
Short-term debt	549.5M	417.5M	17.9M	630.1M	575.4M	199M	471.1M	1.2B	1.2B	695.8M
Total current liabilities	1.8B	2.2B	1.9B	2.7B	3.1B	2.8B	3.1B	3.2B	3.3B	2.8B
Long-term debt	5.3B	6.3B	6B	6.5B	6.2B	6.1B	5.8B	4.8B	6.1B	5.8B
Total liabilities	8.7B	9.8B	9.2B	10.5B	10.6B	10.1B	10B	8.8B	10.3B	9.8B
Shareholders' equity	5.5B	6.8B	7B	7.6B	9.5B	10.3B	10.1B	7.9B	8.1B	8.6B
Total debt	5.8B	6.8B	6.1B	7.1B	6.8B	6.3B	6.2B	6B	7.3B	6.5B
Net debt	5.4B	6.4B	5.6B	6.8B	5.4B	4.9B	5.9B	5.4B	5.8B	6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	727.9M	536.8M	99.3M	265.1M	1.5B	1.5B	369.4M	647.3M	598.1M	532.3M	981.1M	141.8M
Receivables	2B	1.9B	2.1B	2.1B	2.1B	1.9B	2.1B	2.1B	2.1B	2.1B	2.3B	2.3B
Inventory	461.1M	474.6M	475M	441.8M	483.1M	493.2M	488.3M	508.1M	521.5M	534.7M	497.7M	562.2M
Total current assets	4B	3.8B	3.5B	3.6B	4.9B	4.8B	3.8B	4.1B	4.1B	4B	4.6B	3.8B
Property, plant & equipment	—	1.8B	—	—	—	1.9B	—	—	—	1.9B	—	—
Goodwill & intangibles	19.2B	19B	19.2B	19.1B	20B	19.7B	19.8B	20.1B	20.5B	20.8B	21.2B	21.4B
Total assets	16.9B	16.7B	16.5B	16.7B	18.6B	18.4B	17.6B	18.1B	18.3B	18.4B	19.1B	18.5B
Accounts payable	690.6M	827.5M	695.5M	760.6M	660.9M	875.8M	717.9M	793M	668.5M	840.8M	695.7M	688.5M
Short-term debt	1.2B	1.2B	2.2B	2.2B	1.6B	1.2B	188M	690M	691.1M	695.8M	688.2M	185.9M
Total current liabilities	2.9B	3.2B	3.9B	4.1B	3.4B	3.3B	2.1B	2.7B	2.6B	2.8B	2.6B	2.1B
Long-term debt	5.2B	4.8B	3.7B	3.8B	6.1B	6.1B	6.3B	5.9B	5.8B	5.8B	6.6B	6.6B
Total liabilities	9B	8.8B	8.6B	8.7B	10.4B	10.3B	9.3B	9.6B	9.5B	9.8B	10.3B	9.9B
Shareholders' equity	7.9B	7.9B	8B	8B	8.2B	8.1B	8.3B	8.5B	8.7B	8.6B	8.7B	8.6B
Total debt	6.3B	6B	6B	6B	7.7B	7.3B	6.5B	6.5B	6.5B	6.5B	7.2B	6.8B
Net debt	5.6B	5.4B	5.9B	5.7B	6.2B	5.8B	6.2B	5.9B	5.9B	6B	6.3B	6.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	712.9M	1.2B	883.9M	824.9M	1.6B	2.2B	1B	380.4M	747.1M	877.7M
Depreciation & amortization	499.2M	533.2M	552.1M	577.2M	624.7M	577M	537.2M	577.3M	643.5M	681.1M
Stock-based compensation	109.6M	109.7M	91.6M	107M	111.7M	132.9M	116.8M	128.7M	116.7M	125.8M
Change in working capital	-89.1M	205.3M	-40.2M	-119.7M	-1.1B	227.6M	330.8M	-12.9M	13M	-170.6M
Operating cash flow	1.3B	1.6B	1.5B	1.6B	1.4B	3.2B	2.2B	1.2B	1.7B	1.6B
Capital expenditure	—	—	—	—	—	—	—	—	—	-434.5M
Investing cash flow	-516.8M	-1.9B	586.5M	-882.9M	-261.5M	-424.2M	-1.2B	-693.2M	-876.9M	-1.2B
Dividends paid	—	—	—	—	0	0	-195.2M	-254M	-243.1M	-240.7M
Share repurchases	-43.9M	-338.1M	-700M	-450M	-100M	-1.7B	-1.1B	-1B	-250.1M	-450M
Financing cash flow	-671M	593.2M	-1.4B	-252.7M	-517.4M	-2.1B	-534.8M	-1.6B	723.7M	-1.5B
Net change in cash	101.1M	261M	717M	470.6M	641.8M	737.7M	505M	-1B	1.6B	-1.1B
Free cash flow	918.2M	1.2B	925.6M	1B	1.8B	2.7B	1.5B	874.1M	1.1B	1.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	183.6M	-166.8M	228.3M	205.6M	169.6M	143.6M	213M	238.3M	261.5M	164.9M	278M	299.1M
Depreciation & amortization	145.9M	146.4M	154.5M	156.9M	161.5M	170.6M	166.8M	170.3M	171M	173M	173.3M	179M
Stock-based compensation	34.4M	27M	31.6M	30.8M	27M	27.3M	32.8M	34.1M	29.2M	29.7M	31.7M	34.9M
Change in working capital	-23.3M	185.5M	-286.5M	66.3M	-64.3M	297.5M	-315M	87.1M	-133.5M	190.8M	-329.5M	-154.3M
Operating cash flow	350.4M	206.7M	149.5M	524.1M	331.8M	742.2M	148.2M	612.5M	387.2M	614.2M	191.5M	445.5M
Capital expenditure	—	—	—	—	—	—	—	—	-106.7M	-123.9M	-121M	-131.6M
Investing cash flow	-382.7M	-134.4M	-259.3M	-56.8M	-463.3M	-42.5M	-210M	-16.2M	-374M	-197.5M	-322.1M	-366.2M
Dividends paid	-63.9M	-61.1M	-62.1M	-60.4M	-60.5M	-60.1M	-61.6M	-59.9M	-59.9M	-59.3M	-61.2M	-58.7M
Share repurchases	-1B	9M	—	—	-75M	-75.1M	—	-200M	-25M	-225M	-98M	-353.8M
Financing cash flow	-898.2M	-446.5M	30.7M	-110M	1.5B	-549.9M	-865.4M	-267.4M	-23.3M	-290.4M	547.6M	-921.7M
Net change in cash	-930.5M	-374.2M	-79.1M	357.3M	1.4B	149.8M	-927.2M	328.9M	-10.1M	126.3M	417M	-842.4M
Free cash flow	170.6M	412.4M	-163.6M	432.9M	161.5M	665.1M	-107.5M	542.7M	280.5M	490.3M	70.5M	313.9M

Jul 3, 2023	1164:1000
May 13, 2002	2:1
Jun 12, 2001	2:1
May 4, 2000	1:10

Labcorp Holdings Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement