Labcorp Holdings (LH) FY2022 results: revenue $11.9 billion, down 9.7% on the year
Labcorp Holdings Inc. (LH) reported revenue of $11.9 billion for fiscal 2022, the year ended 31 December 2022, down 9.7% on the year before. Net income was $1.3 billion, down 46.2%, and diluted earnings per share $13.97. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2023.
Revenue
$11.9 billion
-9.7% on the year
FY2015FY2022
Operating margin
12.1%
23.2% a year earlier
FY2015FY2022
Net income
$1.3 billion
-46.2% on the year
FY2015FY2022
Diluted EPS
$13.97
-42.7% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,956
3,110
2,135
-37.1%
Capital expenditure
429
422
382
+1.9%
Free cash flow
1,527
2,688
1,754
-43.2%
Free cash flow margin
12.9%
20.5%
12.5%
Cash from investing
-1,652
-885
-643
Cash from financing
-1,322
-2,066
-517
Depreciation and amortisation
537
577
625
-6.9%
Share-based compensation
117
133
112
-12.1%
Buybacks
1,100
1,668
100
-34.1%
Dividends paid
195
0.0
0.0
Dividend per share
$2.16
n/a
n/a
Diluted shares, weighted
92m
98m
98m
-6.1%
Shares outstanding at period end
88m
98m
98m
-9.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
10,097
10,273
9,437
-1.7%
Debt
5,340
5,416
5,796
-1.4%
Operating lease liabilities
653
642
678
+1.6%
Finance lease liabilities
83.6
84.6
84.4
-1.2%
Other liabilities
3,982
3,968
4,077
+0.3%
Total liabilities and equity
20,155
20,385
20,072
-1.1%
Fixed assets
2,794
2,815
2,730
-0.8%
Goodwill
6,124
5,891
7,752
+4.0%
Intangible assets
3,124
3,736
3,961
-16.4%
Cash and equivalents
321
1,473
1,321
-78.2%
Receivables
1,786
2,262
2,480
-21.0%
Inventory
471
401
423
+17.2%
Other assets
5,537
3,808
1,406
+45.4%
Total assets
20,155
20,385
20,072
-1.1%
10-K for the year ended 31 December 2022, filed 28 February 2023: the filing.