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Labcorp Holdings Inc.

Labcorp Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.0 billion, up 7.25% from fiscal 2024.

Revenue: +6.92%
EPS: +3.18%
Free cash flow: +44.7%
Total debt: +3.21%

Quarter to September 2026, against a year earlier

362.28 5.51 −1.50%

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Market cap: $29.5B
P/E: 29.5×
Fwd P/E: 26.7×
Dividend yield: 0.79%
F-score: 8/9
Altman Z: 3.02
Beneish M: −2.55
Dividend safety: 74/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Labcorp Holdings Inc. (LH) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Diagnostics	10,877	77.96%
Biopharma Laboratory Services	3,098	22.21%
Gross margin		28.76%
Operating margin		9.92%
Pre-tax margin		7.94%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2014	FY2012	FY2011	FY2010
Diagnostics	10,877 77.96%	10,144 77.98%	9,415 77.42%	9,204 77.58%	10,364 78.89%	9,253 66.20%	7,000 60.58%	7,031 62.04%	6,858 66.53%	6,308 66.03%	—	—	—	—
Biopharma Laboratory Services	3,098 22.21%	2,923 22.47%	2,774 22.81%	2,697 22.74%	2,861 21.78%	4,878 34.89%	4,578 39.62%	4,313 38.06%	3,452 33.48%	3,246 33.98%	—	—	—	—
Routine Testing	—	—	—	—	—	—	—	—	—	—	5,838 97.11%	3,247 57.25%	3,144 56.73%	2,995 59.86%
Genomic and Esoteric Testing	—	—	—	—	—	—	—	—	—	—	174 2.89%	2,090 36.85%	2,089 37.69%	1,729 34.54%
All other segments [member]	—	—	—	—	—	—	—	—	—	—	—	335 5.91%	309 5.58%	280 5.60%
Eliminations	—	—	—	—	(88) (0.67%)	(153) (1.09%)	—	—	—	—	—	—	—	—
Clinical diagnostics laboratory	—	—	—	—	—	—	—	—	—	—	—	5,336	5,233	—
Revenue	13,952	13,009	12,162	11,864	13,136	13,979	11,555	11,333	10,308	9,553	6,012	5,671	5,542	5,004

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2014	FY2012	FY2011	FY2010
Diagnostics	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Biopharma Laboratory Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate Segment	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
All other segments [member]	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
North America	11,525 82.45%	—	—	—	—	—
Europe	1,512 10.82%	—	—	—	—	—
Other countries	941 6.73%	1,200 10.38%	1,181 10.42%	858 8.32%	775 8.11%	571 6.57%
UNITED STATES	—	8,981 77.73%	8,844 78.03%	8,234 79.88%	7,641 79.98%	7,003 80.68%
Switzerland	—	533 4.61%	527 4.65%	484 4.70%	451 4.72%	360 4.14%
United Kingdom	—	508 4.40%	439 3.87%	302 2.93%	276 2.89%	282 3.25%
California	—	333 2.88%	342 3.02%	328 3.18%	296 3.10%	290 3.35%
Other, not broken out	—	—	—	102 0.99%	116 1.21%	174 2.01%
Revenue	13,979	11,555	11,333	10,308	9,553	8,680

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Net book-to-bill	Q3 FY2026	1.1×	1.1×	+0.92%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Net book-to-bill	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.