L 
Laboratory Corporation of America Holdings LH · USD
Health Care · Health Care Providers & Services · US listing · 🇺🇸 United States
S&P 500
371.83
+1.43%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$13.95bn
FY2016FY2025
Net income
$876.5m
FY2016FY2025
Free cash flow
$1.21bn
FY2016FY2025
Shareholders' equity
$8.62bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.95bn | $13.01bn | $12.16bn | $11.86bn | $13.14bn | $13.98bn | $11.55bn | $11.33bn | $10.44bn | $9.64bn |
| Gross profit | $3.73bn | $3.62bn | $3.36bn | $3.71bn | $4.99bn | $4.95bn | $3.25bn | $3.18bn | $3.46bn | $3.18bn |
| Research and development | — | — | $2.0m | — | — | — | — | — | — | — |
| Operating income | $1.52bn | $1.17bn | $725.6m | $1.44bn | $3.05bn | $2.45bn | $1.33bn | $1.33bn | $1.36bn | $1.31bn |
| Net income | $876.5m | $746.0m | $418.0m | $1.28bn | $2.38bn | $1.56bn | $823.8m | $883.7m | $1.27bn | $732.1m |
| Diluted earnings per share | 10.53 | 8.86 | 4.92 | 14.37 | 24.71 | 15.83 | 8.41 | 8.73 | 12.23 | 6.97 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $18.39bn | $18.38bn | $16.73bn | $20.16bn | $20.39bn | $20.07bn | $18.02bn | $16.19bn | $16.57bn | $14.25bn |
| Cash and short-term investments | $532.3m | $1.52bn | $536.8m | $320.6m | $1.47bn | $1.32bn | $337.5m | $426.8m | $316.7m | $433.6m |
| Total liabilities | $9.76bn | $10.31bn | $8.83bn | $10.04bn | $10.09bn | $10.61bn | $10.46bn | $9.19bn | $9.85bn | $8.73bn |
| Debt | $5.84bn | $6.41bn | $5.14bn | $5.43bn | $5.51bn | $5.89bn | $6.30bn | $6.06bn | $6.76bn | $5.85bn |
| Shareholders' equity | $8.62bn | $8.05bn | $7.88bn | $10.10bn | $10.27bn | $9.44bn | $7.57bn | $6.97bn | $6.80bn | $5.51bn |
| Shares outstanding | 83m | 84m | 85m | 89m | 96m | 98m | 98m | 101m | 104m | 105m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $1.64bn | $1.59bn | $1.33bn | $1.96bn | $3.11bn | $2.14bn | $1.44bn | $1.31bn | $1.46bn | $1.18bn |
| Capital spending | −$434.5m | −$489.9m | −$453.6m | −$481.9m | −$460.4m | −$381.7m | −$400.2m | −$379.8m | −$315.4m | −$278.9m |
| Free cash flow | $1.21bn | $1.10bn | $874.1m | $1.47bn | $2.65bn | $1.75bn | $1.04bn | $925.6m | $1.14bn | $897.0m |
| Dividends paid | −$240.7m | −$243.1m | −$254.0m | −$195.2m | −$1.00bn | −$151.7m | −$2.40bn | −$467.2m | −$3.34bn | −$139.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.73bn | $3.54bn | $3.52bn | $3.56bn | $3.53bn | $3.35bn | $3.33bn | $3.28bn |
| Gross profit | $1.11bn | $938.2m | $920.6m | $1.03bn | $1.05bn | $948.0m | $896.3m | $904.4m |
| Operating income | $451.6m | $387.2m | $382.0m | $396.6m | $394.5m | $326.0m | $216.5m | $254.1m |
| Net income | $298.7m | $277.8m | $164.7m | $261.1m | $237.9m | $212.8m | $143.4m | $169.3m |
| Diluted earnings per share | 3.64 | 3.39 | 1.98 | 3.14 | 2.86 | 2.56 | 1.70 | 2.01 |
| Cash from operations | $445.0m | $191.0m | $614.0m | $387.0m | $620.0m | $18.0m | $777.0m | $277.0m |
| Capital spending | −$131.0m | −$121.0m | −$123.0m | −$106.0m | −$77.0m | −$126.0m | −$112.0m | −$115.0m |
| Free cash flow | $314.0m | $70.0m | $491.0m | $281.0m | $543.0m | −$108.0m | $665.0m | $162.0m |
| Total assets | $18.53bn | $19.09bn | $18.39bn | $18.26bn | $18.06bn | $17.60bn | $18.38bn | $18.61bn |
| Cash and short-term investments | $141.8m | $981.1m | $532.3m | $598.1m | $647.3m | $369.4m | $1.52bn | $1.52bn |
| Debt | $6.04bn | $6.52bn | $5.84bn | $5.84bn | $5.83bn | $5.82bn | $6.60bn | $7.02bn |
| Shareholders' equity | $8.61bn | $8.73bn | $8.62bn | $8.70bn | $8.47bn | $8.31bn | $8.05bn | $8.17bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 26.8% | 27.9% | 27.7% | 31.3% | 38.0% | 35.4% |
| Operating margin | 10.9% | 9.0% | 6.0% | 12.1% | 23.2% | 17.5% |
| Net margin | 6.3% | 5.7% | 3.4% | 10.8% | 18.1% | 11.1% |
| Return on equity | 10.2% | 9.3% | 5.3% | 12.7% | 23.1% | 16.5% |
| Return on assets | 4.8% | 4.1% | 2.5% | 6.3% | 11.7% | 7.8% |
| Free cash flow yield | 8.1% | 8.0% | 6.8% | 8.9% | 12.0% | 8.3% |
| Revenue growth | 7.2% | 7.0% | 2.5% | -9.7% | -6.0% | 21.0% |
| Earnings growth | 17.5% | 78.5% | -67.3% | -46.2% | 52.8% | 88.9% |
| Current ratio | 1.42x | 1.44x | 1.17x | 1.50x | 1.92x | 1.66x |
| Debt to equity | 0.67x | 0.81x | 0.66x | 0.55x | 0.55x | 0.64x |
| Equity ratio | 46.9% | 43.8% | 47.1% | 50.1% | 50.4% | 47.0% |
| Interest coverage | 6.77x | 5.61x | 3.64x | 7.99x | 14.39x | 11.79x |
| R&D as a share of sales | — | — | 0.0% | — | — | — |
| Buybacks as a share of market value | 1.2% | 0.8% | 4.6% | 7.5% | 2.1% | -0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.6% | -0.0% | 4.9% |
| Operating income | 1.8% | -9.1% | 4.2% |
| Net income | -11.8% | -10.8% | 7.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 27.3% | 28.3% | 31.2% | 31.1% |
| Operating margin | 10.0% | 9.5% | 13.2% | 12.9% |
| Net margin | 6.0% | 6.5% | 9.3% | 8.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.8 | 25.9 | 46.2 | 14.1 | 10.9 | 11.1 | 17.3 | 12.4 | 11.2 | 15.8 |
| Price to sales | 1.5 | 1.5 | 1.6 | 1.5 | 2.0 | 1.2 | 1.2 | 1.0 | 1.4 | 1.2 |
Market value over time
31 Oct 2016 to 24 Sept 2026, in USD
$11.30bn$25.33bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 11% | 1% | 14% | -26% | 51% | 22% | 34% | -23% | 27% | 4% |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 28 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY1994 | FY1993 | FY1992 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.16 | 2.88 | 3.60 | 2.88 | 2.16 | 0.20 | 0.80 | 0.95 |
- 2-for-1 split · 13 May 2002
- 2-for-1 split · 12 Jun 2001
- 10-to-1 reverse split · 4 May 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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