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QuidelOrtho Corporation

QDEL Healthcare Medical Devices

QuidelOrtho Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, down 1.89% from fiscal 2024.

Revenue
−11.6%
EPS
+92.7%
Free cash flow
+120.7%
Total debt
+10.5%

Quarter to September 2026, against a year earlier

11.47 1.37 −10.67%
Market cap
$880.5M
P/E
0.0×
Fwd P/E
−3.2×
Dividend yield
—
F-score
6/9
Altman Z
0.11
Beneish M
−3.12
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.59
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — 3 — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 1.08%

Capital & Financial Ratios $m

Size
Market Cap 880.51
Revenue ttm 2,593.20
Net income ttm (369.20)
Free cash flow ttm (117.90)
Net debt Q 2,770.90
Valuation
P/E 0.00
Forward P/E (3.22) (negative: loss-making)
Price / sales 0.34
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.50
Financial health
Current ratio Q 1.36
Debt / equity Q 1.64
Interest coverage Q (0.14)
Growth
Revenue growth Q −11.57% (below 0%: shrinking)
Operating income growth Q +98.94% (above 0%: growing)
EPS, this year −66.55% (below 0%: weak)
EPS, next year A +94.52% (at or above 15%: strong)
Revenue, next year A −6.82% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −5.72% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.4×, against a ten-year median of 2.8×; over the ten years it ranged from 1.2× in 2022 to 18.3× in 2020.
P/S against its own 10 years 2.20%
10-year low 10-year high
P/B against its own 10 years 2.31%
10-year low 10-year high
EV/Sales against its own 10 years 5.94%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 167 98 170 166
Receivables 303 282 417 376
Inventory 578 534 578 643
Other — 42 32 20
1,311 1,219 1,447 1,446
2023 2024 2025 Q'26
Payables 295 246 279 253
ST’ Debt 140 342 178 424
Other 303 289 377 310
834 999 966 1,067

Compound Annual Growth %

10y 5y 3y
Sales 30.13% 10.44% (5.80%)
Cash Flow 11.05% (30.08%) (50.84%)
Earnings 0.00% 0.00% 0.00%
Book Value 24.27% 7.58% (26.99%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.18 Actual 0.31

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.43 0.46 Beat by 0.03
Q1 FY26 0.37 −0.04 Miss by 0.41
Q2 FY26 −0.04 0.13 Beat by 0.17
Q3 FY26 0.18 0.31 Beat by 0.13
Q4 FY26 0.47 — Reports 10 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (1.35) (1.36) (0.78) — —
’25 (0.19) (3.77) (10.78) (1.92) (16.69)
’24 (25.50) (2.20) (0.30) (2.64) (30.16)
’23 0.73 (0.80) (0.19) 0.10 (0.15)
’22 11.31 0.36 0.28 0.45 9.56
’21 4.09 0.45 5.08 6.85 16.43
’20 0.93 1.55 5.33 10.78 18.60
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 620 631 619 — —
’25 693 614 700 724 2,730
’24 711 637 727 708 2,783
’23 846 665 744 743 2,998
’22 1,002 613 784 866 3,266
’21 375 177 510 637 1,699
’20 175 202 476 809 1,662
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (33) (111) 20 — —
’25 66 (47) (45) 132 105
’24 (1) (98) 118 64 83
’23 189 (31) 42 80 280
’22 501 225 (10) 169 885
’21 585 (178) 77 321 806
’20 61 59 70 439 630
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (67) (136) 20 — —
’25 9 (84) (95) 87 (83)
’24 (67) (133) 71 26 (103)
’23 123 (82) (2) 32 71
’22 478 199 (40) 108 744
’21 507 (253) (30) 289 513
’20 55 51 48 410 565
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 192 278 522 535 1,662 1,699 3,266 2,998 2,783 2,730 2,593 +34.3% 2,544 2,591 2,676 (0.7%)
Gross margin, % 58.31 56.22 60.45 59.98 81.62 75.26 59.28 49.94 46.23 46.67 44.22 (11.6) pt
EBT (16) (8) 63 77 1,040 900 736 (29) (2,131) (1,108) (336) +59.9%
EBT margin, % (8.45) (2.89) 12.14 14.43 62.60 53.00 22.53 (0.97) (76.59) (40.57) (12.96) (32.1) pt
Net income (14) (8) 74 73 810 704 549 (10) (2,052) (1,132) (369) +63.2%
Per share, $
Per share, $ Revenue 5.86 8.23 13.75 13.09 39.47 40.35 57.50 44.88 41.41 40.27 37.75 +23.9%
Earnings (0.42) (0.24) 1.95 1.78 19.24 16.74 9.66 (0.15) (30.16) (16.69) (5.41) +50.6%
Cash flow 0.36 0.82 3.59 3.29 14.96 19.14 15.59 4.19 1.24 1.55 0.12 +17.6%
Capex (0.36) (0.52) (0.83) (0.67) (1.54) (6.95) (2.48) (3.13) (2.76) (2.78) (1.83) +25.3%
Free cash flow 0.00 0.30 2.75 2.63 13.42 12.19 13.11 1.06 (1.53) (1.22) (1.72) +95.8%
Book value 6.13 6.73 11.20 13.70 31.66 45.83 86.88 74.94 44.41 28.33 26.07 +18.5%
Shares, m 33 34 38 41 42 42 57 67 67 68 68 +8.4%
Valuation, ×
Valuation, × P/E 0.00 0.00 24.66 42.15 9.34 8.04 6.76 0.00 0.00 0.00 0.00 9.1
P/S 3.56 5.40 3.55 5.73 4.55 3.35 1.48 1.67 1.08 0.71 0.34 3.1
P/B 3.40 6.60 4.36 5.48 5.68 2.95 0.98 1.00 1.00 1.01 0.50 3.2
EV/Sales 3.43 6.70 3.58 5.85 4.32 2.86 2.18 2.41 1.93 1.62 1.41 3.5
EV/FCF (1,307.70) 190.01 17.95 29.30 12.73 9.47 9.57 102.70 (52.11) (52.95) (30.88) (104.1)
Cash, $m
Cash, $m Operating cash flow 12 28 136 134 630 806 885 280 83 105 8 +27.5%
Capex (12) (18) (32) (27) (65) (293) (141) (209) (186) (188) (126) +35.9%
Free cash flow 0 10 105 107 565 513 744 71 (103) (83) (118) +112.5%
Balance, $m
Balance, $m Working capital 192 203 34 96 805 1,117 568 477 220 481 379 +10.8%
Net debt (25) 361 63 65 (377) (828) 2,293 2,247 2,385 2,480 2,771 n/m
Shareholders’ equity 201 227 426 560 1,333 1,929 4,935 5,006 2,985 1,921 1,791 +28.5%
Returns, %
Returns, % ROA (3.47) (1.23) 8.52 8.49 58.25 32.74 9.72 (0.12) (27.38) (18.56) (6.45) (15.1) pt
ROIC (1.58) 1.01 12.26 9.27 69.34 51.40 7.30 1.20 (22.83) (13.05) (1.75) (11.5) pt
ROE (6.59) (3.82) 22.73 14.80 85.63 43.17 15.99 (0.20) (51.36) (46.15) (19.29) (39.6) pt
People
People Employees 627 1,193 1,224 1,250 1,370 1,600 7,000 7,100 6,600 6,500 — +29.7%
Revenue/emp, $m 0.31 0.23 0.43 0.43 1.21 1.06 0.47 0.42 0.42 0.42 — +3.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

QuidelOrtho Corporation vs peers in Medical Devices (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
IART Integra LifeSciences Holdings Corporation $1.1B 83.0× 26.0× +2.27% (above 0%: growing) n/m +232.94% (above 0%: growing) 51.04% 4.60% Compare
SIBN SiBone $1.1B — (loss-making) — (loss-making) +14.49% (above 0%: growing) n/m +31.13% (above 0%: growing) 79.29% (7.81%) Compare
IRMD iRadimed Corporation $1.1B 44.9× 39.6× +14.15% (above 0%: growing) +15.91% (above 0%: growing) +18.58% (above 0%: growing) 76.26% 33.63% Compare
AHCO AdaptHealth Corp. $1.0B — (loss-making) — (loss-making) +10.90% (above 0%: growing) n/m −23.58% (below 0%: shrinking) 15.40% (20.91%) Compare
CBLL CeriBell, Inc. $1.0B — (loss-making) — (loss-making) +29.89% (above 0%: growing) n/m −19.65% (below 0%: shrinking) 89.77% (70.03%) Compare
BVS Bioventus Inc. $899.9M 12.3× 17.2× +2.73% (above 0%: growing) +100.60% (above 0%: growing) −31.40% (below 0%: shrinking) 68.19% 6.81% Compare
QDEL QuidelOrtho Corporation $880.5M — (loss-making) — (loss-making) −11.57% (below 0%: shrinking) n/m +120.70% (above 0%: growing) 46.79% (1.21%)
BBNX Beta Bionics, Inc. $842.1M — (loss-making) — (loss-making) +30.28% (above 0%: growing) n/m −45.46% (below 0%: shrinking) 57.26% (74.94%) Compare
KIDS OrthoPediatrics Corp. $841.3M — (loss-making) — (loss-making) +18.63% (above 0%: growing) n/m +146.64% (above 0%: growing) 74.28% (5.81%) Compare
Median of peers $1.0B 44.9× 26.0× +14.32% — −0.54% 71.24% (6.81%)

All 149 Medical Devices stocks →

QuidelOrtho Corporation (QDEL) Latest News

5 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 3 · · GuruFocus.com

3 Nov

Impact 3 · · MarketBeat
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29 Oct

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22 Oct

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14 Oct

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12 Oct

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7 Oct

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25 Sep

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24 Sep

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17 Aug

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13 Aug

Impact 3 · · The Motley Fool transcript

10 Aug

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7 Aug

Impact 3 · · Moby transcript
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6 Aug

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31 Jul

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30 Jun

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29 Jun

Impact 4 · · Stocktwits
stockrow.com/QDEL · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com