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Stocks / United States / DGX · Services-Medical Laboratories · NYSE

Quest Diagnostics Inc. (DGX)

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Quest Diagnostics Inc. (DGX) reported revenue of $3.0 billion for Q2 FY2026, the quarter ended 30 June 2026, up 10.2% on the same quarter a year earlier. Net income was $320 million, up 13.5% on the year, and diluted earnings per share $2.84. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2026.

Revenue$3.0 billionup 10.2%
Net income$320 millionup 13.5%
Diluted EPS$2.84
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE14.1%
ROCE12.4%
Operating margin14.1%
Net margin9.2%
FCF margin11.7%
Interest covern/a
Debt to equity0.75
Cash conversion1.79
Share count, 1 year-1.3%
Sales CAGR, 3 years3.7%
Profit CAGR, 3 years1.6%
EPS, TTM$9.42

At the close of 21 September 2026

Price$244.88
Market cap$27.0 billion
Stock P/E26.00
Price to book3.60
EV / EBITDA14.50
Dividend yield1.4%
Market cap / sales2.34
52-week high$247.45
52-week low$173.49
Price, 1 year33.4%
Price CAGR, 3 years25.6%
Price CAGR, 5 years9.9%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Quest Diagnostics Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on DGX

Filings16 in twelve months: 9 current reports (8-K), about 5 results of operations; 2 other events; 2 regulation fd disclosure; 1 shareholder vote; 1 material agreement
Planned insider sales24 Form 144 notices in twelve months, $42.1 million; latest 1 September 2026
Options tapeput/call 0.83 by open interest on 23 September 2026; the straddle prices a 5.5% move to 16 October 2026
Holders7 of the followed funds hold it; largest Geode Capital Management; 4 Schedule 13D or 13G filings in twelve months
Insider trading18 sales and 0 purchases on Form 4 in twelve months
Congress3 House trades disclosed in six months
Short interest3.4 million shares short, 3.86 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,2952,2882,3662,3972,4882,6212,6522,7612,8162,8062,8953,043
Cost of revenue1,5411,5521,5951,5931,6771,7631,7891,8181,8671,8961,9532,016
Gross profit7547367718048118588639439499109421,027
Gross margin33%32%33%34%33%33%33%34%34%32%33%34%
SG&A380407440416448466476486501504504529
Operating income342267300355330361346438386386399459
Operating margin15%12%13%15%13%14%13%16%14%14%14%15%
Interest expense41.046.049.047.0n/an/an/an/an/an/an/an/a
Pre-tax income299237266314296299276384328330334412
Tax rate23%17%25%24%22%23%21%25%23%25%22%21%
Net income225192194229226222220282245245252320
Net margin10%8%8%10%9%8%8%10%9%9%9%11%
Diluted EPS$1.96$1.70$1.72$2.03$1.99$1.95$1.94$2.47$2.16$2.18$2.24$2.84
Operating cash flow207527154360356464314544563465278597
Capital expenditure10572.010492.0106123117108144158114138
Free cash flow10245550.0268250341197436419307164459
Buybacks0.0275n/an/an/an/an/an/a150n/an/an/a
Dividends paid80.080.079.084.084.084.084.090.089.090.088.096.0
Shares outstanding112m111m111m111m112m111m112m112m111m110m111m110m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue7,4357,4937,2147,4027,5317,7269,43710,7889,8839,2529,87211,03511,560
Cost of revenue4,6374,6574,6164,7194,9265,0375,8046,5796,4506,1996,6287,3707,732
Gross profit2,7982,8362,8992,6832,6052,6893,6334,2093,4333,0533,2443,6653,828
Gross margin37.6%37.8%40.2%36.2%34.6%34.8%38.5%39.0%34.7%33.0%32.9%33.2%33.1%
Selling, general and administrative1,7281,6791,3801,4431,4241,4571,5501,7271,8741,6421,7701,9672,038
Operating income9831,3991,2771,1651,1011,2311,9712,3811,4281,2621,3461,5561,630
Operating margin13.2%18.7%17.7%15.7%14.6%15.9%20.9%22.1%14.4%13.6%13.6%14.1%14.1%
Interest expense167154144153169180166152148163n/an/an/a
Pre-tax income8231,1031,0861,0309261,0761,8842,5991,2351,1301,1751,3181,404
Income tax262373429241182247460597264248273314320
Effective tax rate31.8%33.8%39.5%23.4%19.7%23.0%24.4%23.0%21.4%21.9%23.2%23.8%22.8%
Net income5567096457727368581,4311,9959468548719921,062
Net margin7.5%9.5%8.9%10.4%9.8%11.1%15.2%18.5%9.6%9.2%8.8%9.0%9.2%
Diluted EPS$3.81$4.87$4.51$5.50$5.29$6.28$10.47$15.55$7.97$7.49$7.69$8.75$9.42
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow9448211,1161,1751,2001,2432,0052,2331,7181,2721,3341,8861,903
Capital expenditure308263293252383400418403404408425527554
Free cash flow6365588239238178431,5871,8301,3148649091,3591,349
Free cash flow margin8.6%7.4%11.4%12.5%10.8%10.9%16.8%17.0%13.3%9.3%9.2%12.3%11.7%
Depreciation and amortisation314304249270309329361408437439493570580
Share-based compensation51.052.069.079.061.056.097.079.077.077.088.088.088.0
Buybacks1322245904653223533252,1991,408275151450n/a
Dividends paid187212223247266286297309305314331353363
Dividend per share$1.32$1.52$1.65$1.80n/an/an/an/an/an/an/an/a$3.32
Diluted shares, weighted145m145m142m140m139m136m136m128m118m113m113m113m112m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/a110m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets9,8579,96210,10010,50311,00312,84314,02613,61112,83714,02216,15316,22516,939
Cash and equivalents1921333591371351,1921,158872315686549420626
Receivables9329019269241,0121,0631,5201,4381,1951,2101,3041,4081,666
Inventory11084.082.095.099.0123223208192190188189233
Goodwill6,0325,9056,0006,3356,5636,6196,8737,0957,2207,7338,8568,9459,112
Long-term debt3,7423,6513,7343,7843,8934,7704,0154,0123,9804,7136,2175,6715,642
Long-term debt including finance leases3,2243,4923,7283,7483,4293,9664,0134,0103,9784,4105,6155,1675,632
Operating lease liabilitiesn/an/an/an/a0.0413499494489503535537561
Finance lease liabilitiesn/an/an/an/an/a30.025.032.07.06.016.018.0n/a
Shareholders' equity4,3014,6844,6284,9215,2165,6416,7596,4445,8936,3076,7787,1707,516
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded3.9%3.2%3.7%9.9%
Profit growth, compounded3.4%-7.1%1.6%11.8%
Return on equity, average16.7%17.4%13.4%13.8%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Services-Medical Laboratories

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Quest Diagnostics Inc. DGX$27.0 billion26.0014.1%14.1%9.9%0.751.4%
Labcorp Holdings Inc. LH$26.0 billion26.5511.6%10.4%6.4%0.680.9%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202623 July 2026EDGAR
10-Q31 March 202622 April 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 202521 October 2025EDGAR
10-Q30 June 202523 July 2025EDGAR
10-Q31 March 202523 April 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 202423 October 2024EDGAR
10-Q30 June 202424 July 2024EDGAR
10-Q31 March 202424 April 2024EDGAR

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