Labcorp Holdings (LH) FY2021 results: revenue $13.1 billion, down 6.0% on the year
Labcorp Holdings Inc. (LH) reported revenue of $13.1 billion for fiscal 2021, the year ended 31 December 2021, down 6.0% on the year before. Net income was $2.4 billion, up 52.8%, and diluted earnings per share $24.39. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$13.1 billion
-6.0% on the year
FY2014FY2021
Operating margin
23.2%
17.5% a year earlier
FY2014FY2021
Net income
$2.4 billion
+52.8% on the year
FY2014FY2021
Diluted EPS
$24.39
+53.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
3,110
2,135
1,445
+45.6%
Capital expenditure
422
382
400
+10.4%
Free cash flow
2,688
1,754
1,044
+53.3%
Free cash flow margin
20.5%
12.5%
9.0%
Cash from investing
-885
-643
-1,283
Cash from financing
-2,066
-517
-253
Depreciation and amortisation
577
625
577
-7.6%
Share-based compensation
133
112
107
+19.0%
Buybacks
1,668
100
450
+1,568.5%
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
98m
98m
99m
-0.5%
Shares outstanding at period end
98m
98m
97m
0.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
10,273
9,437
7,644
+8.9%
Debt
5,416
5,796
6,205
-6.5%
Operating lease liabilities
642
678
597
-5.2%
Finance lease liabilities
84.6
84.4
91.1
+0.2%
Other liabilities
3,968
4,077
3,510
-2.7%
Total liabilities and equity
20,385
20,072
18,046
+1.6%
Fixed assets
2,815
2,730
2,637
+3.1%
Goodwill
5,891
7,752
7,865
-24.0%
Intangible assets
3,736
3,961
4,034
-5.7%
Cash and equivalents
1,473
1,321
338
+11.5%
Receivables
2,262
2,480
1,544
-8.8%
Inventory
401
423
245
-5.2%
Other assets
3,808
1,406
1,384
+170.9%
Total assets
20,385
20,072
18,046
+1.6%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.