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Stocks · Health care · Services-Medical Laboratories

Labcorp

LH Clue Score34
United States Fiscal year ends December CIK 0000920148
$312.15 -0.65% Close, 9 Oct 2026
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Price $312.15 +13.83% 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 2016Revenue9.55Operating income1.27Net income0.71EPS, diluted6.82Fiscal year 2017Revenue10.31 +7.9%Operating income1.31Net income1.23 +72.4%EPS, diluted11.81 +73.2%Fiscal year 2018Revenue11.33 +9.9%Operating income1.33Net income0.88 −28.0%EPS, diluted8.61 −27.1%Fiscal year 2019Revenue11.55 +2.0%Operating income1.33Net income0.82 −6.8%EPS, diluted8.35 −3.0%Fiscal year 2020Revenue13.98 +21.0%Operating income2.45Net income1.56 +88.9%EPS, diluted15.88 +90.2%Fiscal year 2021Revenue13.14 −6.0%Operating income3.05Net income2.38 +52.8%EPS, diluted24.39 +53.6%Fiscal year 2022Revenue11.86 −9.7%Operating income1.44Net income1.28 −46.2%EPS, diluted13.97 −42.7%Fiscal year 2023Revenue12.16 +2.5%Operating income0.73Net income0.42 −67.3%EPS, diluted4.77 −65.9%Fiscal year 2024Revenue13.01 +7.0%Operating income1.09Net income0.75 +78.5%EPS, diluted8.84 +85.3%Fiscal year 2025Revenue13.95 +7.2%Operating income1.38Net income0.88 +17.5%EPS, diluted10.46 +18.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 9.55 10.31 11.33 11.55 13.98 13.14 11.86 12.16 13.01 13.95
Growth +7.9% +9.9% +2.0% +21.0% −6.0% −9.7% +2.5% +7.0% +7.2%
Operating income 1.27 1.31 1.33 1.33 2.45 3.05 1.44 0.73 1.09 1.38
Net income 0.71 1.23 0.88 0.82 1.56 2.38 1.28 0.42 0.75 0.88
Growth +72.4% −28.0% −6.8% +88.9% +52.8% −46.2% −67.3% +78.5% +17.5%
EPS, diluted 6.82 11.81 8.61 8.35 15.88 24.39 13.97 4.77 8.84 10.46
Growth +73.2% −27.1% −3.0% +90.2% +53.6% −42.7% −65.9% +85.3% +18.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin29.9%Operating margin13.3%Net margin7.5%Free cash flow margin9.6%Fiscal year 2017Gross margin30.0%Operating margin12.7%Net margin11.9%Free cash flow margin11.5%Fiscal year 2018Gross margin28.0%Operating margin11.7%Net margin7.8%Free cash flow margin8.2%Fiscal year 2019Gross margin28.1%Operating margin11.5%Net margin7.1%Free cash flow margin9.0%Fiscal year 2020Gross margin35.4%Operating margin17.5%Net margin11.1%Free cash flow margin12.5%Fiscal year 2021Gross margin38.0%Operating margin23.2%Net margin18.1%Free cash flow margin20.5%Fiscal year 2022Gross margin31.3%Operating margin12.1%Net margin10.8%Free cash flow margin12.9%Fiscal year 2023Gross margin27.7%Operating margin6.0%Net margin3.4%Free cash flow margin7.2%Fiscal year 2024Gross margin27.9%Operating margin8.4%Net margin5.7%Free cash flow margin8.4%Fiscal year 2025Gross margin28.8%Operating margin9.9%Net margin6.3%Free cash flow margin8.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 29.9% 30.0% 28.0% 28.1% 35.4% 38.0% 31.3% 27.7% 27.9% 28.8%
Operating margin 13.3% 12.7% 11.7% 11.5% 17.5% 23.2% 12.1% 6.0% 8.4% 9.9%
Net margin 7.5% 11.9% 7.8% 7.1% 11.1% 18.1% 10.8% 3.4% 5.7% 6.3%
Free cash flow margin 9.6% 11.5% 8.2% 9.0% 12.5% 20.5% 12.9% 7.2% 8.4% 8.6%

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 flow1.20Capital expenditure−0.28Free cash flow0.92Buybacks−0.04Fiscal year 2017Operating cash flow1.50Capital expenditure−0.31Free cash flow1.19 +29.1%Buybacks−0.34Fiscal year 2018Operating cash flow1.31Capital expenditure−0.38Free cash flow0.93 −21.9%Buybacks−0.70Fiscal year 2019Operating cash flow1.44Capital expenditure−0.40Free cash flow1.04 +12.8%Buybacks−0.45Fiscal year 2020Operating cash flow2.14Capital expenditure−0.38Free cash flow1.75 +67.9%Buybacks−0.10Fiscal year 2021Operating cash flow3.11Capital expenditure−0.42Free cash flow2.69 +53.3%Buybacks−1.67Fiscal year 2022Operating cash flow1.96Capital expenditure−0.43Free cash flow1.53 −43.2%Buybacks−1.10Dividends paid−0.20Fiscal year 2023Operating cash flow1.33Capital expenditure−0.45Free cash flow0.87 −42.7%Buybacks−1.00Dividends paid−0.25Fiscal year 2024Operating cash flow1.59Capital expenditure−0.49Free cash flow1.10 +25.4%Buybacks−0.25Dividends paid−0.24Fiscal year 2025Operating cash flow1.64Capital expenditure−0.43Free cash flow1.21 +10.0%Buybacks−0.45Dividends paid−0.24
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.20 1.50 1.31 1.44 2.14 3.11 1.96 1.33 1.59 1.64
Capital expenditure −0.28 −0.31 −0.38 −0.40 −0.38 −0.42 −0.43 −0.45 −0.49 −0.43
Free cash flow 0.92 1.19 0.93 1.04 1.75 2.69 1.53 0.87 1.10 1.21
Growth +29.1% −21.9% +12.8% +67.9% +53.3% −43.2% −42.7% +25.4% +10.0%
Buybacks −0.04 −0.34 −0.70 −0.45 −0.10 −1.67 −1.10 −1.00 −0.25 −0.45
Dividends paid n/a n/a n/a n/a n/a n/a −0.20 −0.25 −0.24 −0.24

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.43Total debt5.84Net cash (debt)−5.41Shareholders’ equity5.52Debt to equity1.06Fiscal year 2017Cash0.32Total debt6.75Net cash (debt)−6.44Shareholders’ equity6.80Debt to equity0.99Fiscal year 2018Cash0.43Total debt6.00Net cash (debt)−5.57Shareholders’ equity7.05Debt to equity0.85Fiscal year 2019Cash0.34Total debt5.79Net cash (debt)−5.45Shareholders’ equity7.64Debt to equity0.76Fiscal year 2020Cash1.32Total debt5.42Net cash (debt)−4.10Shareholders’ equity9.44Debt to equity0.57Fiscal year 2021Cash1.47Total debt5.42Net cash (debt)−3.94Shareholders’ equity10.27Debt to equity0.53Fiscal year 2022Cash0.32Total debt5.04Net cash (debt)−4.72Shareholders’ equity10.10Debt to equity0.50Fiscal year 2023Cash0.54Total debt4.05Net cash (debt)−3.52Shareholders’ equity7.88Debt to equity0.51Fiscal year 2024Cash1.52Total debt6.33Net cash (debt)−4.81Shareholders’ equity8.05Debt to equity0.79Fiscal year 2025Cash0.53Total debt5.58Net cash (debt)−5.05Shareholders’ equity8.62Debt to equity0.65
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.43 0.32 0.43 0.34 1.32 1.47 0.32 0.54 1.52 0.53
Total debt 5.84 6.75 6.00 5.79 5.42 5.42 5.04 4.05 6.33 5.58
Net cash (debt) −5.41 −6.44 −5.57 −5.45 −4.10 −3.94 −4.72 −3.52 −4.81 −5.05
Shareholders’ equity 5.52 6.80 7.05 7.64 9.44 10.27 10.10 7.88 8.05 8.62
Debt to equity 1.06 0.99 0.85 0.76 0.57 0.53 0.50 0.51 0.79 0.65

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
9.55 10.31 11.33 11.55 13.98 13.14 11.86 12.16 13.01 13.95
Growth +7.9% +9.9% +2.0% +21.0% −6.0% −9.7% +2.5% +7.0% +7.2%
6.70 7.22 8.16 8.30 9.03 8.14 8.16 8.80 9.38 9.94
2.85 3.09 3.18 3.25 4.95 4.99 3.71 3.36 3.62 4.01
Growth +8.3% +2.7% +2.4% +52.3% +0.8% −25.7% −9.3% +7.7% +10.7%
1.35 1.50 1.57 1.62 1.73 1.69 1.76 2.02 2.23 2.22
1.27 1.31 1.33 1.33 2.45 3.05 1.44 0.73 1.09 1.38
Growth +2.7% +1.6% +0.3% +83.8% +24.7% −52.9% −49.5% +49.8% +27.4%
0.36 −0.16 0.38 0.28 0.66 0.69 0.23 0.19 0.21 0.23
0.71 1.23 0.88 0.82 1.56 2.38 1.28 0.42 0.75 0.88
Growth +72.4% −28.0% −6.8% +88.9% +52.8% −46.2% −67.3% +78.5% +17.5%
Per share
6.94 11.99 8.71 8.42 15.99 24.60 14.05 4.80 8.89 10.54
6.82 11.81 8.61 8.35 15.88 24.39 13.97 4.77 8.84 10.46
Growth +73.2% −27.1% −3.0% +90.2% +53.6% −42.7% −65.9% +85.3% +18.3%
102.5 102.4 101.4 97.9 97.3 96.7 91.1 87.1 83.9 83.2
104.3 103.9 102.6 98.6 98.0 97.5 91.6 87.6 84.4 83.8
Growth −0.4% −1.3% −3.9% −0.6% −0.5% −6.1% −4.4% −3.7% −0.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 0.0% a year over five years, and earnings per share fell 8.0% a year.
  • The diluted share count fell 14.5% in five years, so buybacks did some of the work per share.
  • Operating margin is down 7.6 points on five years ago, at 9.9%.
  • Profitable in every one of the 10 years on file.