Saturday 17 October 2026 Export DGX’s income statement to Excel — free account

Quest Diagnostics Incorporated

Quest Diagnostics Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $11.0 billion, up 11.8% from fiscal 2024. In the quarter to June 2026, revenue grew 10.2%, EPS grew 14.7%, free cash flow grew 5.28% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

235.00 4.15 −1.74%

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Market cap: $26.4B
P/E: 24.6×
Fwd P/E: 20.8×
Dividend yield: 1.44%
F-score: 8/9
Altman Z: 3.15
Beneish M: −2.65
Dividend safety: 85/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 37.00

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	—	—	5	8	—	—	2	1	1	1	—

Insider Ownership 1.04%

Capital & Financial Ratios $m

Market Cap 26,400.00

Revenue 11,560.00

Net Income 1,113.00

Free Cash Flow 1,349.00

Net Debt 5,016.00

Current Ratio 1.59

Debt/Equity 0.72

P/E ratio 24.63

Fwd P/E 20.80

P/S ratio 2.26

P/B ratio 3.34

Past 5Y EPS Growth (3.53%)

This Y EPS Growth 13.66%

Next Y EPS Growth 7.54%

Next Y revenue growth 8.86%

Next 5Y EPS Growth 9.90%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 98.64%

10-year low 10-year high

P/S against its own 10 years 98.34%

10-year low 10-year high

P/B against its own 10 years 98.64%

10-year low 10-year high

EV/Sales against its own 10 years 98.12%

10-year low 10-year high

EV/FCF against its own 10 years 84.67%

10-year low 10-year high

Dividends

Payout Ratio 0.36

Annual Dividend Rate 3.38

Annual Dividend Yield 1.44%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.38	0.80 0.86 0.86 0.86
2025	3.15	0.75 0.80 0.80 0.80
2024	2.96	0.71 0.75 0.75 0.75
2023	2.79	0.66 0.71 0.71 0.71
2022	2.60	0.62 0.66 0.66 0.66
2021	2.42	0.56 0.62 0.62 0.62
2020	2.21	0.53 0.56 0.56 0.56
2019	2.12	0.53 0.53 0.53 0.53
2018	1.95	0.45 0.50 0.50 0.50
2017	1.80	0.45 0.45 0.45 0.45
2016	1.58	0.38 0.40 0.40 0.40

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	686	549	420	626
Receivables	1,210	1,304	1,408	1,666
Inventory	190	188	189	233
Other	—	—	—	—
	2,372	2,392	2,378	2,844

	2023	2024	2025	Q'26
Payables	1,359	1,394	1,600	1,598
ST’ Debt	303	602	504	10
Other	—	—	—	—
	1,815	2,169	2,278	1,788

Compound Annual Growth %

	10y	5y	3y
Sales	3.95%	3.18%	3.74%
Cash Flow	8.67%	(1.22%)	3.16%
Earnings	3.42%	(7.06%)	1.60%
Book Value	4.34%	1.14%	6.71%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,895	3,043	—	—	—
’25	2,652	2,761	2,816	2,806	11,035
’24	2,366	2,397	2,488	2,621	9,872
’23	2,331	2,338	2,295	2,288	9,252
’22	2,611	2,453	2,486	2,333	9,883
’21	2,720	2,550	2,774	2,744	10,788
’20	1,822	1,827	2,786	3,002	9,437

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	278	597	—	—	—
’25	314	544	563	465	1,886
’24	154	360	356	464	1,334
’23	94	444	207	527	1,272
’22	480	402	502	334	1,718
’21	731	460	561	481	2,233
’20	247	355	862	541	2,005

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	164	459	—	—	—
’25	197	436	419	307	1,359
’24	50	268	250	341	909
’23	(33)	340	102	455	864
’22	417	326	384	187	1,314
’21	645	376	472	337	1,830
’20	164	273	771	379	1,587

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.24	2.84	—	—	—
’25	1.94	2.47	2.16	2.18	8.75
’24	1.72	2.03	1.99	1.95	7.69
’23	1.78	2.05	1.96	1.70	7.49
’22	2.92	1.96	2.17	0.87	7.97
’21	3.46	4.96	4.02	3.12	15.55
’20	0.73	1.36	4.14	4.21	10.47

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	59.66	90.10	78.95	79.93	73.02	113.36	120.40	119.59	123.04	148.70	Analyst estimates 2026–2028 Powerpack
	High	93.57	112.97	116.49	108.95	131.81	174.16	172.50	157.36	165.32	197.55
People
People	Employees	43,000	45,000	46,000	47,000	49,000	49,000	49,000	48,000	56,000	57,000
	Revenue/emp, $m	0.17	0.16	0.16	0.16	0.19	0.22	0.20	0.19	0.18	0.19
Income, $m
Income, $m	Revenue	7,214	7,402	7,531	7,726	9,437	10,788	9,883	9,252	9,872	11,035
	Gross margin, %	36.01	36.25	34.59	34.80	38.50	39.02	34.74	33.00	32.86	33.21
	EBT	1,086	1,030	926	1,076	1,884	2,599	1,235	1,130	1,175	1,318
	EBT margin, %	15.05	13.92	12.30	13.93	19.96	24.09	12.50	12.21	11.90	11.94
	Net income	696	824	788	906	1,499	2,080	1,015	908	921	1,046
	Depreciation	249	270	309	329	361	408	437	439	493	570
Per share, $
Per share, $	Revenue	51.53	54.03	55.38	57.66	70.43	86.30	85.20	82.61	88.94	99.41
	Earnings	4.58	5.63	5.39	6.36	10.62	15.85	8.10	7.59	7.78	8.87
	Cash flow	7.97	8.58	8.82	9.28	14.96	17.86	14.81	11.36	12.02	16.99
	Capex	(2.09)	(1.84)	(2.82)	(2.99)	(3.12)	(3.22)	(3.48)	(3.64)	(3.83)	(4.75)
	Free cash flow	5.88	6.74	6.01	6.29	11.84	14.64	11.33	7.71	8.19	12.24
	Book value	33.29	36.17	38.73	42.44	50.81	51.86	51.12	56.63	61.38	64.92
	Shares, m	140	137	136	134	134	125	116	112	111	111
Valuation, ×
Valuation, ×	P/E	20.23	17.57	15.45	16.79	11.24	10.90	19.33	18.55	19.39	19.56
	P/S	1.79	1.83	1.50	1.85	1.69	2.00	1.83	1.70	1.70	1.75
	P/B	2.78	2.73	2.15	2.52	2.35	3.34	3.05	2.49	2.46	2.67
	EV/Sales	2.26	2.32	2.00	2.32	1.99	2.30	2.20	2.14	2.27	2.22
	EV/FCF	19.83	18.63	18.46	21.22	11.86	13.53	16.54	22.92	24.66	18.04
Cash, $m
Cash, $m	Operating cash flow	1,116	1,175	1,200	1,243	2,005	2,233	1,718	1,272	1,334	1,886
	Capex	(293)	(252)	(383)	(400)	(418)	(403)	(404)	(408)	(425)	(527)
	Free cash flow	823	923	817	843	1,587	1,830	1,314	864	909	1,359
Balance, $m
Balance, $m	Working capital	550	249	(95)	500	1,282	988	347	557	223	100
	Total debt	3,734	3,784	3,893	4,770	4,015	4,012	3,980	4,713	6,217	5,671
	Net debt	3,375	3,647	3,758	3,578	2,857	3,140	3,665	4,027	5,668	5,251
	Shareholders’ equity	4,660	4,955	5,267	5,687	6,809	6,483	5,930	6,342	6,813	7,206
Returns, %
Returns, %	ROA	6.40	7.49	6.84	7.20	10.61	14.39	7.12	6.33	5.74	6.10
	ROIC	9.93	8.46	7.62	8.30	12.74	15.46	9.30	7.61	6.74	7.81
	ROE	13.70	16.06	14.40	15.67	22.81	29.91	15.18	13.85	13.17	14.10

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WAT Waters Corporation	$43.6B	109×	44.3×	+113.36% (above 0%: growing)	n/m	+750.00% (above 0%: growing)	44.62%	(5.23%)	Compare
IDXX IDEXX Laboratories, Inc.	$43.1B	39.1×	38.3×	+9.66% (above 0%: growing)	+17.21% (above 0%: growing)	+111.44% (above 0%: growing)	64.04%	34.98%	Compare
ILMN Illumina, Inc.	$40.5B	48.4×	34.7×	+9.44% (above 0%: growing)	−8.05% (below 0%: shrinking)	−18.27% (below 0%: shrinking)	66.44%	21.14%	Compare
MTD Mettler-Toledo International, Inc.	$32.8B	36.4×	25.5×	+4.48% (above 0%: growing)	+18.30% (above 0%: growing)	+33.01% (above 0%: growing)	63.29%	30.61%	Compare
DGX Quest Diagnostics Incorporated	$26.4B	24.6×	20.8×	+10.21% (above 0%: growing)	+14.74% (above 0%: growing)	+5.28% (above 0%: growing)	33.75%	15.08%
LH Labcorp Holdings Inc.	$26.4B	26.2×	19.0×	+5.78% (above 0%: growing)	+28.42% (above 0%: growing)	−42.01% (below 0%: shrinking)	29.80%	12.10%	Compare
GH Guardant Health, Inc.	$22.3B	— (loss-making)	— (loss-making)	+44.33% (above 0%: growing)	n/m	−5.46% (below 0%: shrinking)	65.39%	(38.55%)	Compare
MEDP Medpace Holdings, Inc.	$17.6B	35.6×	26.7×	+17.24% (above 0%: growing)	+36.39% (above 0%: growing)	−3.03% (below 0%: shrinking)	71.36%	20.76%	Compare
RVTY Revvity Inc.	$17.3B	72.7×	37.5×	+1.31% (above 0%: growing)	+2.17% (above 0%: growing)	+59.29% (above 0%: growing)	57.13%	12.24%	Compare
Median of peers	$29.6B	39.1×	34.7×	+9.55%	+17.75%	+14.99%	63.66%	16.50%

All 52 Diagnostics & Research stocks →

Quest Diagnostics Incorporated (DGX) key facts

Strength: Quest Diagnostics Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $11.0 billion, up 11.8% from fiscal 2024.
Strength: Net income was $1.0 billion, or $8.87 per share (basic), a net margin of 8.95%.
Quest Diagnostics Incorporated (DGX) is a Diagnostics & Research company in the Healthcare sector, listed on the New York Stock Exchange.
As of October 16, 2026, DGX traded at $235.00, a market capitalization of $26.4 billion.
At that price the stock trades at 24.6× trailing-twelve-month earnings and 2.3× sales; its P/E is higher than 99% of its own readings over the past ten years.
Quest Diagnostics Incorporated pays an annual dividend of $3.38 per share, a yield of 1.44%, with a payout ratio of 35.9%.
Return on equity was 14.1% and debt-to-equity 0.72.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 3.15 (safe zone) for fiscal 2025.