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

Labcorp Holdings Inc. (LH)

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Labcorp Holdings Inc. (LH) reported revenue of $3.7 billion for Q2 FY2026, the quarter ended 30 June 2026, up 5.8% on the same quarter a year earlier. Net income was $299 million, up 25.6% on the year, and diluted earnings per share $3.64. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$3.7 billionup 5.8%
Net income$299 millionup 25.6%
Diluted EPS$3.64
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE11.6%
ROCE10.3%
Operating margin10.4%
Net margin7.0%
FCF margin8.1%
Interest cover6.59
Debt to equity0.68
Cash conversion1.63
Share count, 1 year-2.4%
Sales CAGR, 3 years5.6%
Profit CAGR, 3 years-11.8%
EPS, TTM$12.09

At the close of 21 September 2026

Price$320.99
Market cap$26.0 billion
Stock P/E26.55
Price to book3.02
EV / EBITDA14.45
Dividend yield0.9%
Market cap / sales1.81
52-week high$339.34
52-week low$246.64
Price, 1 year15.8%
Price CAGR, 3 years16.1%
Price CAGR, 5 years1.9%

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 Labcorp Holdings 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 LH

Filings33 in twelve months: 25 current reports (8-K), about 16 regulation fd disclosure; 5 officer or director change; 4 results of operations; 2 material agreement; 2 new financial obligation
Planned insider sales19 Form 144 notices in twelve months, $16.2 million; latest 17 August 2026
Options tapeput/call 2.74 by open interest on 23 September 2026; the straddle prices a 5.1% move to 16 October 2026
Holders8 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading18 sales and 0 purchases on Form 4 in twelve months
Congress4 House trades disclosed in six months
Short interest2.1 million shares short, 3.18 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 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
Revenue3,0572,2933,1773,2213,2823,3293,3453,5273,5643,5163,5383,731
Cost of revenue2,2061,5962,2792,2942,3782,4332,3972,4812,5382,5232,5242,619
Gross profit8516978979269048969481,0461,0259931,0141,112
Gross margin28%30%28%29%28%27%28%30%29%28%29%30%
SG&A526436508558569595546579552539551577
Operating income252-134321295254216326394397268381452
Operating margin8%-6%10%9%8%7%10%11%11%8%11%12%
Interest expense50.348.846.947.650.463.456.057.156.055.055.161.1
Net income183-167228205169143213238261165278299
Net margin6%-7%7%6%5%4%6%7%7%5%8%8%
Diluted EPS$2.11-$1.85$2.69$2.43$2.00$1.72$2.52$2.84$3.12$1.98$3.35$3.64
Operating cash flow276580-29.856127777718.5621387614192446
Capital expenditure10516713412811611212677.9107124121132
Free cash flow171412-164433162665-10854328049070.5314
Buybacks1,009n/an/an/a75.0n/a0.020025.022598.0354
Dividends paid63.961.162.160.460.560.161.659.959.959.361.258.7
Shares outstanding85m84m84m84m84m83m84m83m83m82m82m81m
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

FY2014FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023FY2024FY2025TTM
Revenue6,0128,6809,55310,30811,33311,55513,97813,13611,86412,16213,00913,95214,348
Cost of revenue3,8085,7776,6997,2168,1578,3029,0268,1448,1558,7979,3849,93910,204
Gross profit2,2032,9032,8543,0923,1763,2524,9534,9923,7093,3653,6244,0124,144
Gross margin36.6%33.4%29.9%30.0%28.0%28.1%35.4%38.0%31.3%27.7%27.9%28.8%28.9%
Selling, general and administrative1,1981,6281,3461,4991,5711,6241,7291,6901,7632,0212,2302,2162,219
Operating income9109971,2711,3051,3261,3302,4453,0491,4367261,0871,3851,497
Operating margin15.1%11.5%13.3%12.7%11.7%11.5%17.5%23.2%12.1%6.0%8.4%9.9%10.4%
Interest expense110275219235244241207212180200208224227
Income tax314287361-155384280662690234188212230230
Net income5114377121,2278848241,5562,3771,2794187468761,002
Net margin8.5%5.0%7.5%11.9%7.8%7.1%11.1%18.1%10.8%3.4%5.7%6.3%7.0%
Diluted EPS$5.91$4.34$7.02$12.21$8.61$8.35$15.88$24.39$13.97$4.77$8.84$10.46$12.09
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

FY2014FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023FY2024FY2025TTM
Operating cash flow7399821,1971,4981,3051,4452,1353,1101,9561,3281,5861,6401,638
Capital expenditure204256279313380400382422429454490434483
Free cash flow5367279181,1859261,0441,7542,6881,5278741,0961,2061,155
Free cash flow margin8.9%8.4%9.6%11.5%8.2%9.0%12.5%20.5%12.9%7.2%8.4%8.6%8.1%
Depreciation and amortisation246458499533552577625577537577644681696
Share-based compensation45.710211011091.6107112133117129117126126
Buybacks2690.043.93387004501001,6681,1001,000250450702
Dividends paidn/an/an/an/an/an/an/an/a195254243241239
Dividend per sharen/an/an/an/an/an/an/an/a$2.16$2.88$2.88$2.88n/a
Diluted shares, weighted86m101m104m104m103m99m98m98m92m88m84m84m82m
Shares outstanding at period end85m101m103m102m99m97m98m98m88m84m83m82m81m
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

FY2014FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023FY2024FY2025TTM
Total assets7,30214,10514,24716,67316,18518,04620,07220,38520,15516,72518,37918,39318,532
Cash and equivalents5807164343174273381,3211,4733215371,519532142
Receivables8161,2181,3291,5311,4681,5442,4802,2621,7861,9131,9442,1042,342
Inventory140191205228237245423401471475493535562
Goodwill3,0996,2026,4247,4017,3607,8657,7525,8916,1246,1426,3706,7907,030
Long-term debt2,9876,3565,7786,6966,0016,2055,4195,4165,0394,0555,3315,0855,858
Long-term debt including finance leases3,0536,4615,8906,8066,098n/an/an/an/an/an/an/an/a
Borrowings, as the company tags themn/a2,9007.28.97.17.06.14.62.30.60.30.0n/a
Operating lease liabilitiesn/an/an/an/a0.0597678642653649676683661
Finance lease liabilitiesn/an/an/an/a51.091.184.484.683.678.674.363.061.6
Shareholders' equity2,8204,9445,5186,8047,0487,6449,43710,27310,0977,8758,0528,6208,607
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, compounded4.9%-0.0%5.6%6.4%
Profit growth, compounded7.2%-10.8%-11.8%31.3%
Return on equity, average13.1%12.1%8.2%10.2%

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 20265 August 2026EDGAR
10-Q31 March 20264 May 2026EDGAR
10-K31 December 202524 February 2026EDGAR
10-Q30 September 202531 October 2025EDGAR
10-Q30 June 20251 August 2025EDGAR
10-Q31 March 202529 April 2025EDGAR
10-K31 December 202425 February 2025EDGAR
10-Q30 September 202429 October 2024EDGAR
10-Q30 June 20242 August 2024EDGAR
10-Q31 March 202430 April 2024EDGAR

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