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Labcorp Holdings Inc.

LH Healthcare Diagnostics & Research

Labcorp Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.0 billion, up 7.25% from fiscal 2024. In the quarter to June 2026, revenue grew 5.78%, EPS grew 28.4%, free cash flow fell 42.0% and total debt rose 15.1%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, revenue growth for three.

318.66 6.41 −1.97%
Market cap
$26.4B
P/E
26.2×
Fwd P/E
19.0×
Dividend yield
0.90%
F-score
8/9
Altman Z
3.02
Beneish M
−2.55
Dividend safety
74/100
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 11.92
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 — — 7 3 — 1 1 2 4 — —
Insider Ownership 1.14%

Capital & Financial Ratios $m

Market Cap 26,360.00
Revenue 14,348.00
Net Income 1,003.50
Free Cash Flow 1,170.50
Net Debt 5,777.40
Current Ratio 1.80 (at or above 1.5: strong)
Debt/Equity 0.69
P/E ratio 26.18
Fwd P/E 19.00
P/S ratio 1.81
P/B ratio 3.02
Past 5Y EPS Growth (8.01%) (below 0%: weak)
This Y EPS Growth 11.63%
Next Y EPS Growth 8.05%
Next Y revenue growth 5.71%
Next 5Y EPS Growth 9.53%

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.2×, against a ten-year median of 1.9×; over the ten years it ranged from 1.4× in 2020 to 2.3× in 2026.
P/E against its own 10 years 75.12%
10-year low 10-year high
P/S against its own 10 years 98.75%
10-year low 10-year high
P/B against its own 10 years 98.97%
10-year low 10-year high
EV/Sales against its own 10 years 98.78%
10-year low 10-year high
EV/FCF against its own 10 years 92.66%
10-year low 10-year high

Dividends

Payout Ratio 0.24
Annual Dividend Rate 2.88
Annual Dividend Yield 0.90%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.91
0.72
0.72
0.72
2025 2.88
0.72
0.72
0.72
0.72
2024 3.60
0.72
0.72
0.72
0.72
0.72
2023 2.68
0.62
0.62
0.72
0.72
2022 1.86
0.62
0.62
0.62
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 537 1,519 532 142
Receivables 2,099 2,097 2,261 2,505
Inventory 475 493 535 562
Other — — — —
3,765 4,807 4,021 3,815
2023 2024 2025 Q'26
Payables 828 876 841 689
ST’ Debt — — — —
Other — — — —
3,225 3,330 2,824 2,125

Compound Annual Growth %

10y 5y 3y
Sales 4.86% (0.04%) 5.55%
Cash Flow 5.26% (5.14%) (5.69%)
Earnings 7.19% (10.85%) (11.84%)
Book Value 5.71% (1.79%) (5.13%)

Revenue $m

Mar Jun Sep Dec Year
’26 3,538 3,731 — — —
’25 3,345 3,527 3,564 3,516 13,952
’24 3,177 3,221 3,282 3,329 13,009
’23 3,038 3,034 3,057 3,033 12,162
’22 3,900 2,923 2,867 2,175 11,864
’21 4,162 3,841 4,063 1,071 13,136
’20 2,824 2,769 3,896 4,490 13,979
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 192 446 — — —
’25 19 621 387 614 1,641
’24 (30) 561 277 777 1,586
’23 121 351 276 580 1,328
’22 356 573 374 654 1,956
’21 1,158 487 767 698 3,110
’20 204 371 786 775 2,135
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 78 316 — — —
’25 (107) 545 282 495 1,214
’24 (163) 433 162 667 1,098
’23 43 111 171 413 875
’22 240 442 291 555 1,528
’21 1,065 390 650 670 2,775
’20 104 272 703 716 1,796
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 3.35 3.64 — — —
’25 2.52 2.84 3.12 1.98 10.46
’24 2.69 2.43 2.00 1.70 8.84
’23 2.39 2.12 2.11 (1.95) 4.77
’22 5.23 3.87 3.90 0.86 13.97
’21 7.82 4.76 6.05 5.75 24.39
’20 (3.27) 2.37 7.17 9.54 15.88
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 84.01 109.97 102.56 105.04 84.21 172.41 172.10 179.59 191.97 209.38

Analyst estimates 2026–2028

Powerpack
High 121.41 141.91 163.54 153.30 187.95 272.48 269.75 227.84 247.99 293.72
People
People Employees 52,000 60,000 61,000 65,000 72,400 75,500 80,000 67,000 70,000 71,000
Revenue/emp, $m 0.18 0.17 0.19 0.18 0.19 0.17 0.15 0.18 0.19 0.20
Income, $m
Income, $m Revenue 9,553 10,308 11,333 11,555 13,979 13,136 11,864 12,162 13,009 13,952
Gross margin, % 29.88 29.99 28.03 28.15 35.43 38.01 31.26 27.67 27.86 28.76
EBT 1,074 1,078 1,268 1,105 2,219 2,888 1,237 569 960 1,108
EBT margin, % 11.24 10.45 11.19 9.56 15.88 21.98 10.43 4.68 7.38 7.94
Net income 713 1,233 884 825 1,557 2,380 1,281 419 747 878
Depreciation 501 533 552 577 1,087 577 537 577 644 681
Per share, $
Per share, $ Revenue 93.20 100.66 111.77 118.03 143.66 135.84 130.23 139.63 155.05 167.69
Earnings 7.14 12.39 8.71 8.42 15.99 24.60 14.05 4.80 8.89 10.54
Cash flow 11.68 14.63 12.87 14.76 21.95 32.16 21.47 15.24 18.90 19.72
Capex (2.42) (3.03) (3.25) (4.01) (3.49) (3.46) (4.70) (5.20) (5.82) (5.13)
Free cash flow 9.26 11.60 9.62 10.75 18.46 28.70 16.77 10.04 13.09 14.59
Book value 53.72 66.45 68.75 77.29 96.98 106.24 110.83 90.41 95.97 103.60
Shares, m 103 102 101 98 97 97 91 87 84 83
Valuation, ×
Valuation, × P/E 15.73 11.25 12.46 17.26 10.96 10.98 14.66 49.48 25.80 23.80
P/S 1.19 1.39 0.97 1.23 1.22 1.99 1.57 1.67 1.48 1.50
P/B 2.06 2.10 1.58 1.88 1.80 2.54 1.84 2.57 2.39 2.42
EV/Sales 1.70 1.97 1.47 1.77 1.56 2.29 1.97 1.96 1.78 1.83
EV/FCF 17.10 17.09 17.09 19.44 12.14 10.87 15.35 32.39 24.10 23.69
Cash, $m
Cash, $m Operating cash flow 1,197 1,498 1,305 1,445 2,135 3,110 1,956 1,328 1,586 1,641
Capex (248) (310) (330) (392) (340) (334) (428) (453) (488) (426)
Free cash flow 949 1,188 976 1,052 1,796 2,775 1,528 875 1,098 1,214
Balance, $m
Balance, $m Working capital 651 548 957 325 2,047 2,548 1,547 540 1,476 1,197
Total debt 5,300 6,345 6,042 5,881 5,503 5,501 5,122 4,133 5,406 5,148
Net debt 4,866 6,028 5,615 5,543 4,183 4,028 4,802 3,597 3,887 4,615
Shareholders’ equity 5,506 6,804 6,971 7,567 9,437 10,273 10,097 7,875 8,052 8,620
Returns, %
Returns, % ROA 5.02 7.94 5.38 4.81 8.16 11.75 6.31 2.27 4.25 4.77
ROIC 7.66 6.36 6.58 6.34 11.22 13.32 6.03 3.95 5.69 6.54
ROE 13.62 19.94 12.83 11.33 18.30 24.12 12.56 4.65 9.37 10.51
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Labcorp Holdings Inc. vs peers in Diagnostics & Research (Q) = latest quarter vs a year earlier

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% Compare
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%
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× +9.94% +15.98% +19.15% 63.66% 17.92%

All 52 Diagnostics & Research stocks →

LH metrics, ten years each

Labcorp Holdings Inc. (LH) key facts

  • Strength: Labcorp Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.0 billion, up 7.25% from fiscal 2024.
  • Labcorp Holdings Inc. (LH) is a Diagnostics & Research company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, LH traded at $318.66, a market capitalization of $26.4 billion.
  • Labcorp Holdings Inc. pays an annual dividend of $2.88 per share, a yield of 0.90%, with a payout ratio of 23.8%.
  • Return on equity was 10.5% and debt-to-equity 0.69.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 3.02 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Labcorp Holdings Inc. (LH) Latest News

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stockrow.com/LH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com