Q 
Quest Diagnostics DGX · USD
Health Care · Health Care Providers & Services · US listing · 🇺🇸 United States
S&P 500
259.67
+1.58%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$11.04bn
FY2016FY2025
Net income
$992.0m
FY2016FY2025
Free cash flow
$1.36bn
FY2016FY2025
Shareholders' equity
$7.17bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.04bn | $9.87bn | $9.25bn | $9.88bn | $10.79bn | $9.44bn | $7.73bn | $7.53bn | $7.71bn | $7.51bn |
| Gross profit | $3.52bn | $3.24bn | $3.05bn | $3.43bn | $4.21bn | $3.63bn | $2.69bn | $2.60bn | $2.99bn | $2.90bn |
| Operating income | $1.60bn | $1.35bn | $1.26bn | $1.43bn | $2.53bn | $1.97bn | $1.23bn | $1.09bn | $1.17bn | $1.28bn |
| Net income | $992.0m | $871.0m | $854.0m | $946.0m | $2.00bn | $1.43bn | $858.0m | $736.0m | $772.0m | $645.0m |
| Diluted earnings per share | 8.86 | 7.71 | 7.56 | 8.23 | 15.96 | 10.45 | 6.31 | 5.37 | 5.55 | 4.57 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $16.23bn | $16.15bn | $14.02bn | $12.84bn | $13.61bn | $14.03bn | $12.84bn | $11.00bn | $10.50bn | $10.10bn |
| Cash and short-term investments | $420.0m | $549.0m | $686.0m | $315.0m | $872.0m | $1.16bn | $1.19bn | $135.0m | $137.0m | $359.0m |
| Total liabilities | $8.94bn | $9.26bn | $7.60bn | $6.83bn | $7.05bn | $7.13bn | $7.08bn | $5.66bn | $5.47bn | $5.36bn |
| Debt | $5.67bn | $6.38bn | $4.84bn | $4.07bn | $4.13bn | $4.17bn | $4.86bn | $3.99bn | $3.85bn | $3.73bn |
| Shareholders' equity | $7.17bn | $6.78bn | $6.31bn | $5.89bn | $6.44bn | $6.76bn | $5.64bn | $5.22bn | $4.92bn | $4.63bn |
| Shares outstanding | 112m | 113m | 113m | 115m | 125m | 137m | 136m | 137m | 139m | 141m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $1.89bn | $1.33bn | $1.27bn | $1.72bn | $2.23bn | $2.00bn | $1.24bn | $1.20bn | $1.18bn | $1.07bn |
| Capital spending | −$527.0m | −$425.0m | −$408.0m | −$404.0m | −$403.0m | −$418.0m | −$400.0m | −$383.0m | −$252.0m | −$293.0m |
| Free cash flow | $1.36bn | $909.0m | $864.0m | $1.31bn | $1.83bn | $1.59bn | $843.0m | $817.0m | $923.0m | $776.0m |
| Dividends paid | −$353.0m | −$331.0m | −$314.0m | −$305.0m | −$309.0m | −$297.0m | −$286.0m | −$266.0m | −$247.0m | −$223.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.04bn | $2.90bn | $2.81bn | $2.82bn | $2.76bn | $2.65bn | $2.62bn | $2.49bn |
| Gross profit | $1.03bn | $942.0m | $914.0m | $949.0m | $943.0m | $863.0m | $858.0m | $811.0m |
| Operating income | $459.0m | $399.0m | $391.0m | $386.0m | $438.0m | $346.0m | $361.0m | $330.0m |
| Net income | $320.0m | $252.0m | $245.0m | $245.0m | $282.0m | $220.0m | $222.0m | $226.0m |
| Diluted earnings per share | 2.86 | 2.25 | 2.19 | 2.19 | 2.52 | 1.96 | 1.96 | 2.00 |
| Cash from operations | $468.0m | $278.0m | $465.0m | $563.0m | $544.0m | $314.0m | $464.0m | $356.0m |
| Capital spending | −$138.0m | −$114.0m | −$158.0m | −$144.0m | −$108.0m | −$117.0m | −$123.0m | −$106.0m |
| Free cash flow | $330.0m | $164.0m | $307.0m | $419.0m | $436.0m | $197.0m | $341.0m | $250.0m |
| Total assets | $16.94bn | $16.67bn | $16.23bn | $16.20bn | $15.97bn | $15.80bn | $16.15bn | $16.09bn |
| Cash and short-term investments | $626.0m | $393.0m | $420.0m | $432.0m | $319.0m | $188.0m | $549.0m | $764.0m |
| Debt | $5.82bn | $5.83bn | $5.84bn | $5.85bn | $5.84bn | $6.03bn | $6.39bn | $6.43bn |
| Shareholders' equity | $7.52bn | $7.37bn | $7.17bn | $7.26bn | $7.23bn | $6.93bn | $6.78bn | $6.81bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 31.9% | 32.9% | 33.0% | 34.7% | 39.0% | 38.5% |
| Operating margin | 14.5% | 13.6% | 13.6% | 14.4% | 23.5% | 20.9% |
| Net margin | 9.0% | 8.8% | 9.2% | 9.6% | 18.5% | 15.2% |
| Return on equity | 13.8% | 12.9% | 13.5% | 16.1% | 31.0% | 21.2% |
| Return on assets | 6.1% | 5.4% | 6.1% | 7.4% | 14.7% | 10.2% |
| Free cash flow yield | 9.1% | 6.6% | 6.3% | 7.8% | 8.9% | 7.5% |
| Revenue growth | 11.8% | 6.7% | -6.4% | -8.4% | 14.3% | 22.1% |
| Earnings growth | 13.9% | 2.0% | -9.7% | -52.6% | 39.4% | 66.8% |
| Current ratio | 1.04x | 1.10x | 1.31x | 1.22x | 1.56x | 1.72x |
| Debt to equity | 0.82x | 0.97x | 0.79x | 0.72x | 0.66x | 0.64x |
| Equity ratio | 44.2% | 42.0% | 45.0% | 45.9% | 47.3% | 48.2% |
| Interest coverage | 5.79x | 5.96x | 8.30x | 9.65x | 16.66x | 11.87x |
| Buybacks as a share of market value | 0.9% | 0.0% | 1.7% | 8.0% | 8.8% | -0.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.7% | 3.2% | 3.9% |
| Operating income | 3.9% | -4.0% | 1.4% |
| Net income | 1.6% | -7.1% | 3.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.4% | 33.1% | 35.0% | 35.7% |
| Operating margin | 14.1% | 14.1% | 16.8% | 16.6% |
| Net margin | 8.9% | 9.1% | 11.8% | 11.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.6 | 19.6 | 18.2 | 19.0 | 10.8 | 11.4 | 16.9 | 15.5 | 17.7 | 20.1 |
| Price to sales | 1.8 | 1.7 | 1.7 | 1.8 | 2.0 | 1.7 | 1.9 | 1.5 | 1.8 | 1.7 |
Market value over time
31 Oct 2016 to 24 Sept 2026, in USD
$11.56bn$26.50bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 16% | 11% | -10% | -12% | 42% | 13% | 31% | -17% | 7% | 31% |
Dividends and splits
Per share, in the currency the company pays
Paid for 22 years. Last went ex-dividend on 6 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.58 | 3.20 | 3.00 | 2.84 | 2.64 | 2.48 | 2.24 | 2.12 |
- 2-for-1 split · 21 Jun 2005
- 2-for-1 split · 1 Jun 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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