Labcorp Holdings (LH) FY2024 results: revenue $13.0 billion, up 7.0% on the year
Labcorp Holdings Inc. (LH) reported revenue of $13.0 billion for fiscal 2024, the year ended 31 December 2024, up 7.0% on the year before. Net income was $746 million, up 78.5%, and diluted earnings per share $8.84. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$13.0 billion
+7.0% on the year
FY2017FY2024
Operating margin
8.4%
6.0% a year earlier
FY2017FY2024
Net income
$746 million
+78.5% on the year
FY2017FY2024
Diluted EPS
$8.84
+85.3% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,586
1,328
1,956
+19.4%
Capital expenditure
490
454
429
+8.0%
Free cash flow
1,096
874
1,527
+25.4%
Free cash flow margin
8.4%
7.2%
12.9%
Cash from investing
-1,367
-1,172
-1,652
Cash from financing
780
-59.3
-1,322
Depreciation and amortisation
644
577
537
+11.5%
Share-based compensation
117
129
117
-9.3%
Buybacks
250
1,000
1,100
-75.0%
Dividends paid
243
254
195
-4.3%
Dividend per share
$2.88
$2.88
$2.16
0.0%
Diluted shares, weighted
84m
88m
92m
-3.7%
Shares outstanding at period end
83m
84m
88m
-0.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
8,052
7,875
10,097
+2.3%
Debt
6,332
5,054
5,340
+25.3%
Operating lease liabilities
676
649
653
+4.2%
Finance lease liabilities
74.3
78.6
83.6
-5.5%
Other liabilities
3,245
3,068
3,982
+5.8%
Total liabilities and equity
18,379
16,725
20,155
+9.9%
Fixed assets
3,045
2,912
2,794
+4.6%
Goodwill
6,370
6,142
6,124
+3.7%
Intangible assets
3,489
3,342
3,124
+4.4%
Cash and equivalents
1,519
537
321
+182.9%
Receivables
1,944
1,913
1,786
+1.6%
Inventory
493
475
471
+3.9%
Other assets
1,519
1,404
5,537
+8.2%
Total assets
18,379
16,725
20,155
+9.9%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.