DGX · Quest Diagnostics Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $11.04B | $9.87B | $9.25B | $9.88B | $10.79B | $9.44B |
| Cost of Revenue | $7.37B | $6.63B | $6.20B | $6.45B | $6.58B | $5.80B |
| Gross Profit | $3.67B | $3.24B | $3.05B | $3.43B | $4.21B | $3.63B |
| R&D | - | - | - | - | - | - |
| SG&A | $1.97B | $1.77B | $1.64B | $1.87B | $1.73B | $1.55B |
| Total Operating Expenses | $9.48B | $8.53B | $7.99B | $8.46B | $8.41B | $7.47B |
| D&A | $570.00M | $493.00M | $439.00M | $437.00M | $408.00M | $361.00M |
| Operating Income | $1.56B | $1.35B | $1.26B | $1.43B | $2.38B | $1.97B |
| Interest Expense | - | - | $163.00M | $148.00M | $152.00M | $166.00M |
| Income Tax | $314.00M | $273.00M | $248.00M | $264.00M | $597.00M | $460.00M |
| Net Income | $992.00M | $871.00M | $854.00M | $946.00M | $2.00B | $1.43B |
| EPS - Basic | $8.87 | $7.78 | $7.59 | $8.10 | $15.85 | $10.62 |
| EPS - Diluted | $8.75 | $7.69 | $7.49 | $7.97 | $15.55 | $10.47 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $420.00M | $549.00M | $686.00M | $315.00M | $872.00M | $1.16B |
| Accounts Receivable | $1.41B | $1.30B | $1.21B | $1.20B | $1.44B | $1.52B |
| Inventory | $189.00M | $188.00M | $190.00M | $192.00M | $208.00M | $223.00M |
| Accounts Payable | $307.00M | $287.00M | $378.00M | $324.00M | $357.00M | $446.00M |
| Current Assets | $2.38B | $2.39B | $2.37B | $1.90B | $2.74B | $3.06B |
| Total Assets | $16.23B | $16.15B | $14.02B | $12.84B | $13.61B | $14.03B |
| Current Liabilities | $2.28B | $2.17B | $1.81B | $1.55B | $1.75B | $1.78B |
| Long-term Debt | $5.17B | $5.62B | $4.41B | $3.98B | $4.01B | $4.01B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $7.17B | $6.78B | $6.31B | $5.89B | $6.44B | $6.76B |
| Retained Earnings | $9.99B | $9.36B | $8.82B | $8.29B | $7.65B | $9.30B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.89B | $1.33B | $1.27B | $1.72B | $2.23B | $2.00B |
| Investing Cash Flow | ($631.00M) | ($2.55B) | ($1.06B) | ($543.00M) | $21.00M | ($772.00M) |
| Financing Cash Flow | ($1.39B) | $1.08B | $160.00M | ($1.73B) | ($2.54B) | ($1.27B) |
| CapEx | $527.00M | $425.00M | $408.00M | $404.00M | $403.00M | $418.00M |
| Free Cash Flow | $1.36B | $909.00M | $864.00M | $1.31B | $1.83B | $1.59B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 33.2% | 32.9% | 33.0% | 34.7% | 39.0% | 38.5% |
| Operating margin | 14.1% | 13.6% | 13.6% | 14.4% | 22.1% | 20.9% |
| EBITDA margin | 19.3% | 18.6% | 18.4% | 18.9% | 25.9% | 24.7% |
| Net margin | 9.0% | 8.8% | 9.2% | 9.6% | 18.5% | 15.2% |
| Free cash flow margin | 12.3% | 9.2% | 9.3% | 13.3% | 17.0% | 16.8% |
| FCF / Net income | 1.37 | 1.04 | 1.01 | 1.39 | 0.92 | 1.11 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 17.8% | 17.9% | 17.7% | 19.0% | 16.0% | 16.4% |
| Effective tax rate | 24.0% | 23.9% | 22.5% | 21.8% | 23.0% | 24.3% |
| Return on assets | 6.1% | 5.4% | 6.1% | 7.4% | 14.7% | 10.2% |
| Return on equity | 13.8% | 12.9% | 13.5% | 16.1% | 31.0% | 21.2% |
| Return on invested capital | 9.6% | 8.3% | 9.1% | 11.3% | 17.5% | 13.8% |
| Liquidity | ||||||
| Current ratio | 1.04 | 1.10 | 1.31 | 1.22 | 1.56 | 1.72 |
| Quick ratio | 0.96 | 1.02 | 1.20 | 1.10 | 1.44 | 1.60 |
| Cash ratio | 0.18 | 0.25 | 0.38 | 0.20 | 0.50 | 0.65 |
| Leverage | ||||||
| Debt / Equity | 0.72 | 0.83 | 0.70 | 0.68 | 0.62 | 0.59 |
| Debt / Assets | 0.32 | 0.35 | 0.31 | 0.31 | 0.29 | 0.29 |
| Debt / EBITDA | 2.43 | 3.05 | 2.59 | 2.13 | 1.44 | 1.72 |
| Interest coverage | - | - | 7.7x | 9.6x | 15.7x | 11.9x |
| Equity multiplier | 2.26 | 2.38 | 2.22 | 2.18 | 2.11 | 2.08 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.68 | 0.61 | 0.66 | 0.77 | 0.79 | 0.67 |
| Inventory turnover | 38.99 | 35.26 | 32.63 | 33.59 | 31.63 | 26.03 |
| Days sales outstanding | 47d | 48d | 48d | 44d | 49d | 59d |
| Days inventory outstanding | 9d | 10d | 11d | 11d | 12d | 14d |
| Days payable outstanding | 15d | 16d | 22d | 18d | 20d | 28d |
| Cash conversion cycle | 41d | 43d | 37d | 37d | 40d | 45d |
| Valuation | ||||||
| P / E | 19.8x | 19.6x | 18.4x | 19.6x | 11.1x | 11.4x |
| P / B | 2.7x | 2.5x | 2.5x | 3.1x | 3.4x | 2.4x |
| P / S | 1.8x | 1.7x | 1.7x | 1.9x | 2.1x | 1.7x |
| EV / EBITDA | 11.5x | 12.0x | 11.3x | 11.9x | 9.1x | 8.2x |
| Growth | ||||||
| Revenue growth (YoY) | 11.8% | 6.7% | -6.4% | -8.4% | 14.3% | 22.1% |
| Revenue CAGR (3y) | 3.7% | -2.9% | -0.7% | 8.6% | 12.7% | 7.0% |
| Revenue CAGR (5y) | 3.2% | 5.0% | 4.2% | 5.1% | 7.5% | 4.7% |
| Gross profit growth (YoY) | 13.0% | 6.3% | -11.1% | -18.4% | 15.9% | 35.1% |
| Operating income growth (YoY) | 15.6% | 6.7% | -11.6% | -40.0% | 20.8% | 60.1% |
| Net income growth (YoY) | 13.9% | 2.0% | -9.7% | -52.6% | 39.4% | 66.8% |
| EPS growth (YoY) | 13.8% | 2.7% | -6.0% | -48.7% | 48.5% | 66.7% |
| EPS CAGR (3y) | 3.2% | -20.9% | -10.6% | 8.3% | 43.2% | 23.9% |
| EPS CAGR (5y) | -3.5% | 4.1% | 7.2% | 7.7% | 28.1% | 16.5% |
| FCF growth (YoY) | 49.5% | 5.2% | -34.2% | -28.2% | 15.3% | 88.3% |
| FCF CAGR (5y) | -3.1% | 1.5% | 1.1% | 7.3% | 18.7% | 23.7% |
| Book value growth (YoY) | 5.8% | 7.5% | 7.0% | -8.6% | -4.7% | 19.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$11.04B totalDiagnostic Information Services Business$10.79B · 97.7%
All Other Segments$250.00M · 2.3%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Medical Laboratories
Comparing QUEST DIAGNOSTICS INC against the 5 most active filers in the same SIC group.
Dividends
$3.26/share trailing 12 months · +6.9% YoY
| Ex-date | Per share |
|---|---|
| Apr 6, 2026 | $0.8600 |
| Jan 13, 2026 | $0.8000 |
| Oct 3, 2025 | $0.8000 |
| Jul 7, 2025 | $0.8000 |
| Apr 7, 2025 | $0.8000 |
| Jan 14, 2025 | $0.7500 |
| Oct 4, 2024 | $0.7500 |
| Jul 8, 2024 | $0.7500 |
| Apr 5, 2024 | $0.7500 |
| Jan 16, 2024 | $0.7100 |
| Oct 5, 2023 | $0.7100 |
| Jul 10, 2023 | $0.7100 |
| Apr 6, 2023 | $0.7100 |
| Jan 17, 2023 | $0.6600 |
| Oct 3, 2022 | $0.6600 |
| Jul 5, 2022 | $0.6600 |
| Apr 5, 2022 | $0.6600 |
| Jan 18, 2022 | $0.6200 |
| Oct 4, 2021 | $0.6200 |
| Jul 6, 2021 | $0.6200 |
| Apr 6, 2021 | $0.6200 |
| Jan 19, 2021 | $0.5600 |
| Oct 5, 2020 | $0.5600 |
| Jul 7, 2020 | $0.5600 |