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Stocks · Health care · Services-Medical Laboratories

Quest Diagnostics

DGX Clue Score40
United States Fiscal year ends December CIK 0001022079
$230.97 +0.07% Close, 9 Oct 2026
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Price $230.97 +64.56% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue7.21Operating income1.28Net income0.65EPS, diluted4.51Fiscal year 2017Revenue7.40 +2.6%Operating income1.17Net income0.77 +19.7%EPS, diluted5.50 +22.0%Fiscal year 2018Revenue7.53 +1.7%Operating income1.10Net income0.74 −4.7%EPS, diluted5.29 −3.8%Fiscal year 2019Revenue7.73 +2.6%Operating income1.23Net income0.86 +16.6%EPS, diluted6.28 +18.7%Fiscal year 2020Revenue9.44 +22.1%Operating income1.97Net income1.43 +66.8%EPS, diluted10.47 +66.7%Fiscal year 2021Revenue10.79 +14.3%Operating income2.38Net income2.00 +39.4%EPS, diluted15.55 +48.5%Fiscal year 2022Revenue9.88 −8.4%Operating income1.43Net income0.95 −52.6%EPS, diluted7.97 −48.7%Fiscal year 2023Revenue9.25 −6.4%Operating income1.26Net income0.85 −9.7%EPS, diluted7.49 −6.0%Fiscal year 2024Revenue9.87 +6.7%Operating income1.35Net income0.87 +2.0%EPS, diluted7.69 +2.7%Fiscal year 2025Revenue11.04 +11.8%Operating income1.56Net income0.99 +13.9%EPS, diluted8.75 +13.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 7.21 7.40 7.53 7.73 9.44 10.79 9.88 9.25 9.87 11.04
Growth +2.6% +1.7% +2.6% +22.1% +14.3% −8.4% −6.4% +6.7% +11.8%
Operating income 1.28 1.17 1.10 1.23 1.97 2.38 1.43 1.26 1.35 1.56
Net income 0.65 0.77 0.74 0.86 1.43 2.00 0.95 0.85 0.87 0.99
Growth +19.7% −4.7% +16.6% +66.8% +39.4% −52.6% −9.7% +2.0% +13.9%
EPS, diluted 4.51 5.50 5.29 6.28 10.47 15.55 7.97 7.49 7.69 8.75
Growth +22.0% −3.8% +18.7% +66.7% +48.5% −48.7% −6.0% +2.7% +13.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin40.2%Operating margin17.7%Net margin8.9%Free cash flow margin11.4%Fiscal year 2017Gross margin36.2%Operating margin15.7%Net margin10.4%Free cash flow margin12.5%Fiscal year 2018Gross margin34.6%Operating margin14.6%Net margin9.8%Free cash flow margin10.8%Fiscal year 2019Gross margin34.8%Operating margin15.9%Net margin11.1%Free cash flow margin10.9%Fiscal year 2020Gross margin38.5%Operating margin20.9%Net margin15.2%Free cash flow margin16.8%Fiscal year 2021Operating margin22.1%Net margin18.5%Free cash flow margin17.0%Fiscal year 2022Operating margin14.4%Net margin9.6%Free cash flow margin13.3%Fiscal year 2023Operating margin13.6%Net margin9.2%Free cash flow margin9.3%Fiscal year 2024Operating margin13.6%Net margin8.8%Free cash flow margin9.2%Fiscal year 2025Operating margin14.1%Net margin9.0%Free cash flow margin12.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 40.2% 36.2% 34.6% 34.8% 38.5% n/a n/a n/a n/a n/a
Operating margin 17.7% 15.7% 14.6% 15.9% 20.9% 22.1% 14.4% 13.6% 13.6% 14.1%
Net margin 8.9% 10.4% 9.8% 11.1% 15.2% 18.5% 9.6% 9.2% 8.8% 9.0%
Free cash flow margin 11.4% 12.5% 10.8% 10.9% 16.8% 17.0% 13.3% 9.3% 9.2% 12.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.12Capital expenditure−0.29Free cash flow0.82Buybacks−0.59Dividends paid−0.22Fiscal year 2017Operating cash flow1.18Capital expenditure−0.25Free cash flow0.92 +12.2%Buybacks−0.47Dividends paid−0.25Fiscal year 2018Operating cash flow1.20Capital expenditure−0.38Free cash flow0.82 −11.5%Buybacks−0.32Dividends paid−0.27Fiscal year 2019Operating cash flow1.24Capital expenditure−0.40Free cash flow0.84 +3.2%Buybacks−0.35Dividends paid−0.29Fiscal year 2020Operating cash flow2.01Capital expenditure−0.42Free cash flow1.59 +88.3%Buybacks−0.33Dividends paid−0.30Fiscal year 2021Operating cash flow2.23Capital expenditure−0.40Free cash flow1.83 +15.3%Buybacks−2.20Dividends paid−0.31Fiscal year 2022Operating cash flow1.72Capital expenditure−0.40Free cash flow1.31 −28.2%Buybacks−1.41Dividends paid−0.31Fiscal year 2023Operating cash flow1.27Capital expenditure−0.41Free cash flow0.86 −34.2%Buybacks−0.28Dividends paid−0.31Fiscal year 2024Operating cash flow1.33Capital expenditure−0.43Free cash flow0.91 +5.2%Buybacks−0.15Dividends paid−0.33Fiscal year 2025Operating cash flow1.89Capital expenditure−0.53Free cash flow1.36 +49.5%Buybacks−0.45Dividends paid−0.35
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.12 1.18 1.20 1.24 2.01 2.23 1.72 1.27 1.33 1.89
Capital expenditure −0.29 −0.25 −0.38 −0.40 −0.42 −0.40 −0.40 −0.41 −0.43 −0.53
Free cash flow 0.82 0.92 0.82 0.84 1.59 1.83 1.31 0.86 0.91 1.36
Growth +12.2% −11.5% +3.2% +88.3% +15.3% −28.2% −34.2% +5.2% +49.5%
Buybacks −0.59 −0.47 −0.32 −0.35 −0.33 −2.20 −1.41 −0.28 −0.15 −0.45
Dividends paid −0.22 −0.25 −0.27 −0.29 −0.30 −0.31 −0.31 −0.31 −0.33 −0.35

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.36Total debt3.73Net cash (debt)−3.38Shareholders’ equity4.63Debt to equity0.81Fiscal year 2017Cash0.14Total debt3.78Net cash (debt)−3.65Shareholders’ equity4.92Debt to equity0.77Fiscal year 2018Cash0.14Total debt3.89Net cash (debt)−3.76Shareholders’ equity5.22Debt to equity0.75Fiscal year 2019Cash1.19Total debt4.77Net cash (debt)−3.58Shareholders’ equity5.64Debt to equity0.85Fiscal year 2020Cash1.16Total debt4.02Net cash (debt)−2.86Shareholders’ equity6.76Debt to equity0.59Fiscal year 2021Cash0.87Total debt4.01Net cash (debt)−3.14Shareholders’ equity6.44Debt to equity0.62Fiscal year 2022Cash0.32Total debt3.98Net cash (debt)−3.67Shareholders’ equity5.89Debt to equity0.68Fiscal year 2023Cash0.69Total debt4.71Net cash (debt)−4.03Shareholders’ equity6.31Debt to equity0.75Fiscal year 2024Cash0.55Total debt6.22Net cash (debt)−5.67Shareholders’ equity6.78Debt to equity0.92Fiscal year 2025Cash0.42Total debt5.67Net cash (debt)−5.25Shareholders’ equity7.17Debt to equity0.79
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.36 0.14 0.14 1.19 1.16 0.87 0.32 0.69 0.55 0.42
Total debt 3.73 3.78 3.89 4.77 4.02 4.01 3.98 4.71 6.22 5.67
Net cash (debt) −3.38 −3.65 −3.76 −3.58 −2.86 −3.14 −3.67 −4.03 −5.67 −5.25
Shareholders’ equity 4.63 4.92 5.22 5.64 6.76 6.44 5.89 6.31 6.78 7.17
Debt to equity 0.81 0.77 0.75 0.85 0.59 0.62 0.68 0.75 0.92 0.79

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
7.21 7.40 7.53 7.73 9.44 10.79 9.88 9.25 9.87 11.04
Growth +2.6% +1.7% +2.6% +22.1% +14.3% −8.4% −6.4% +6.7% +11.8%
4.62 4.72 4.93 5.04 5.80 6.58 6.45 6.20 6.63 7.37
2.90 2.68 2.61 2.69 3.63 n/a n/a n/a n/a n/a
Growth −7.5% −2.9% +3.2% +35.1%
1.38 1.44 1.42 1.46 1.55 1.73 1.87 1.64 1.77 1.97
1.28 1.17 1.10 1.23 1.97 2.38 1.43 1.26 1.35 1.56
Growth −8.8% −5.5% +11.8% +60.1% +20.8% −40.0% −11.6% +6.7% +15.6%
1.09 1.03 0.93 1.08 1.88 2.60 1.24 1.13 1.18 1.32
0.43 0.24 0.18 0.25 0.46 0.60 0.26 0.25 0.27 0.31
0.65 0.77 0.74 0.86 1.43 2.00 0.95 0.85 0.87 0.99
Growth +19.7% −4.7% +16.6% +66.8% +39.4% −52.6% −9.7% +2.0% +13.9%
Per share
4.58 5.63 5.39 6.36 10.62 15.85 8.10 7.59 7.78 8.87
4.51 5.50 5.29 6.28 10.47 15.55 7.97 7.49 7.69 8.75
Growth +22.0% −3.8% +18.7% +66.7% +48.5% −48.7% −6.0% +2.7% +13.8%
140.0 137.0 136.0 134.0 134.0 125.0 116.0 112.0 111.0 111.0
142.0 140.0 139.0 136.0 136.0 128.0 118.0 113.0 113.0 113.0
Growth −1.4% −0.7% −2.2% +0.0% −5.9% −7.8% −4.2% +0.0% +0.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 3.2% a year over five years, and earnings per share fell 3.5% a year.
  • The diluted share count fell 16.9% in five years, so buybacks did some of the work per share.
  • Operating margin is down 6.8 points on five years ago, at 14.1%.
  • Profitable in every one of the 10 years on file.