Quest Diagnostics

Health Care Health Care Services Secaucus, New Jersey Last filing Feb 26, 2026 · FY2025

                    Revenue
                    FY2025
                
$11.0B
                    3y CAGR +3.7%
                    
                    P41
                    
                    +11.8%
                    
                    Net income
                    FY2025
                
$992.0M
                    Net margin +9.0%
                    
                    P37
                    
                    +13.9%
                    
                    Total assets
                    FY2025
                
$16.2B
                    ROA +6.1%
                    
                    P54
                    
                    +0.4%
                    
                    Operating cash flow
                    FY2025
                
$1.9B
                    FCF margin +12.3%
                    
                    P35
                    
                    +41.4%

19 yrs · FY2007–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $16.2B

Total liabilities ~$9.1B

Shareholders equity $7.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	3.8%	5.6%	7.4%	3.2%	8.1%	12.3%	15.4%	1.8%	1.9%	5.0%
Accounts Receivable	12.8%	13.2%	13.1%	12.1%	13.3%	16.1%	13.8%	13.4%	12.5%	12.8%
Inventory	1.7%	1.9%	2.1%	1.9%	1.9%	2.4%	1.6%	1.3%	1.3%	1.1%
Prepaid Expenses	3.3%	3.6%	3.1%	2.0%	2.1%	1.7%	1.4%	1.9%	2.0%	2.1%
Total Current Assets	21.5%	24.2%	25.6%	19.2%	25.4%	32.4%	32.2%	18.5%	17.6%	21.2%
Property,Plant and Equipment	20.0%	21.4%	19.6%	17.9%	15.8%	17.2%	18.8%	17.1%	15.5%	14.3%
Operating Lease Assets	6.0%	6.6%	6.5%	5.9%	5.5%	6.4%	6.7%	0.0%	—	—
Goodwill	81.1%	89.7%	83.6%	73.1%	65.8%	72.8%	85.7%	87.1%	85.6%	83.2%
Intangible Assets	14.8%	17.9%	12.6%	11.0%	10.8%	12.4%	14.5%	16.0%	15.1%	13.2%
Long Term Investments	1.2%	1.2%	1.5%	1.3%	1.3%	5.5%	6.2%	5.8%	6.2%	6.1%
Other Noncurrent Assets	2.4%	2.6%	2.1%	1.5%	1.5%	1.9%	2.1%	1.6%	1.8%	2.1%
Total Assets	147.0%	163.6%	151.6%	129.9%	126.2%	148.6%	166.2%	146.1%	141.9%	140.0%
Liabilities
Accounts Payable	14.5%	14.1%	14.7%	14.1%	14.8%	17.3%	13.5%	13.6%	13.8%	13.5%
Current Portion of Long Term Debt	4.6%	6.1%	3.3%	0.0%	0.0%	0.0%	10.4%	6.2%	0.5%	0.1%
Operating Lease Liabilities	1.6%	1.8%	1.7%	1.5%	1.4%	1.5%	1.9%	0.0%	—	—
Total Current Liabilities	20.6%	22.0%	19.6%	15.7%	16.2%	18.8%	25.8%	19.7%	14.3%	13.6%
Long Term Debt	46.8%	56.9%	47.7%	40.3%	37.2%	42.5%	51.3%	45.5%	50.6%	51.7%
Operating Lease Liabilities Noncurrent	4.9%	5.4%	5.4%	4.9%	4.6%	5.3%	5.3%	0.0%	—	—
Other Noncurrent Liabilities	8.7%	9.5%	9.5%	8.2%	7.3%	9.0%	9.2%	9.9%	9.0%	9.1%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	21.6%	23.9%	25.1%	23.2%	20.9%	30.1%	35.2%	35.4%	35.3%	35.3%
Retained Earnings	90.6%	94.8%	95.4%	83.9%	70.9%	98.6%	105.8%	100.9%	96.4%	91.7%
Treasury Stock	46.9%	49.2%	52.2%	47.3%	32.0%	56.9%	67.5%	66.3%	64.6%	61.8%
Accumulated Other Comprehensive Income	-0.2%	-0.9%	-0.2%	-0.2%	-0.1%	-0.2%	-0.5%	-0.8%	-0.6%	-1.0%
Total Stockholders Equity	65.0%	68.7%	68.2%	59.6%	59.7%	71.6%	73.0%	69.3%	66.5%	64.2%
Noncontrolling Interest	0.3%	0.4%	0.4%	0.4%	0.4%	0.5%	0.6%	0.7%	0.5%	0.4%
Temporary Equity and Other	0.7%	0.8%	0.8%	0.8%	0.7%	0.9%	1.0%	1.0%	1.1%	1.1%
Total Liabilitiesand Equity	147.0%	163.6%	151.6%	129.9%	126.2%	148.6%	166.2%	146.1%	141.9%	140.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 10 years

Revenue $11.0B

Operating income $1.6B

Net income $992.0M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	66.8%	67.1%	67.0%	65.3%	61.0%	61.5%	65.2%	65.4%	63.8%	64.0%
Expenses Selling,General and Administrative	17.8%	17.9%	17.7%	19.0%	16.0%	16.4%	18.9%	18.9%	19.5%	19.1%
Expenses Depreciation and Amortization	1.4%	1.3%	1.2%	1.2%	1.0%	1.1%	1.2%	1.2%	1.0%	1.0%
Expenses Other Operating Expenses	-0.1%	0.0%	0.4%	0.1%	-0.0%	0.1%	-1.2%	-0.1%	0.0%	-1.8%
Other Income Expense Operating Income	14.1%	13.6%	13.6%	14.4%	22.1%	20.9%	15.9%	14.6%	15.7%	17.7%
Other Income Expense Interest Expense	2.4%	2.0%	1.6%	1.4%	-1.4%	-1.7%	-2.3%	-2.2%	-2.0%	-2.0%
Other Income Expense Other Income/expense	0.2%	0.3%	0.2%	-0.6%	3.4%	0.8%	0.3%	-0.1%	0.2%	-0.7%
Other Income Expense Income Before Tax	11.9%	11.9%	12.2%	12.5%	24.1%	20.0%	13.9%	12.3%	13.9%	15.1%
Income Tax Income Tax Expense	2.8%	2.8%	2.7%	2.7%	5.5%	4.9%	3.2%	2.4%	3.3%	5.9%
net Income Other Items Below Tax	-0.1%	-0.3%	-0.3%	-0.3%	-0.1%	0.1%	0.6%	-0.1%	-0.2%	-0.2%
net Income net Income	9.0%	8.8%	9.2%	9.6%	18.5%	15.2%	11.1%	9.8%	10.4%	8.9%
net Income Comprehensive Income	9.5%	8.1%	9.3%	9.5%	18.6%	15.4%	11.4%	9.7%	10.8%	8.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $1.9B

Investing cash flow $-631.0M

Financing cash flow $-1.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	9.5%	9.3%	9.8%	10.3%	19.3%	15.9%	11.7%	10.5%	11.1%	9.6%
Operating Activities Depreciation and Amortization	5.2%	5.0%	4.7%	4.4%	3.8%	3.8%	4.3%	4.1%	3.6%	3.5%
Operating Activities Stock Based Compensation	0.8%	0.9%	0.8%	0.8%	0.7%	1.0%	0.7%	0.8%	1.1%	1.0%
Operating Activities Deferred Income Taxes	1.0%	0.1%	-0.5%	0.0%	-0.5%	0.9%	0.2%	1.0%	0.1%	0.5%
Operating Activities Changes In Operating Assets and Liabilities	0.5%	-2.0%	-1.6%	1.2%	0.8%	-0.2%	0.5%	-0.7%	-4.3%	-3.0%
Operating Activities Other Non Cash Items	0.2%	0.2%	0.5%	0.7%	-3.4%	-0.2%	-1.3%	0.2%	4.2%	3.3%
Operating Activities net Cash From Operating Activities	17.1%	13.5%	13.7%	17.4%	20.7%	21.2%	16.1%	15.9%	15.9%	14.8%
Investing Activities Capital Expenditures	-4.8%	-4.3%	-4.4%	-4.1%	-3.7%	-4.4%	-5.2%	-5.1%	-3.4%	-4.1%
Investing Activities Business Acquisitions	-0.9%	-21.9%	-6.6%	-1.5%	-3.1%	-3.5%	-0.8%	-5.6%	-7.8%	-1.9%
Investing Activities Other Investing Activities	-0.0%	0.4%	-0.5%	0.1%	0.0%	-0.3%	0.6%	0.0%	0.4%	3.9%
Investing Activities net Cash From Investing Activities	-5.7%	-25.8%	-11.5%	-5.5%	0.2%	-8.2%	-5.3%	-10.6%	-10.9%	-2.1%
Financing Activities Proceeds From Debt	3.7%	18.7%	28.0%	0.0%	0.0%	7.9%	29.5%	27.8%	2.8%	25.9%
Financing Activities Repayment of Debt	-9.2%	-3.1%	-19.9%	-0.0%	-0.0%	-16.5%	-18.8%	-26.1%	-2.5%	-23.9%
Financing Activities Repurchase of Common Stock	-4.1%	-1.5%	-3.0%	-14.2%	-20.4%	-3.4%	-4.6%	-4.3%	-6.3%	-8.2%
Financing Activities Dividends Paid	-3.7%	-3.8%	-4.0%	-3.8%	-3.8%	-3.8%	-4.4%	-4.2%	-4.0%	-3.7%
Financing Activities Proceeds From Stock Issuance	0.7%	0.7%	0.8%	1.2%	1.2%	2.0%	1.5%	1.3%	1.8%	1.0%
Financing Activities Tax Withholding On Stock Based Compensation	-0.4%	-0.2%	-0.3%	-0.3%	-0.2%	-0.2%	-0.2%	-0.3%	-0.3%	-0.1%
Financing Activities Other Financing Activities	0.4%	0.2%	0.2%	-0.4%	-0.4%	0.5%	-0.2%	0.5%	0.6%	-0.6%
Financing Activities net Cash From Financing Activities	-12.6%	11.0%	1.7%	-17.5%	-23.5%	-13.4%	2.9%	-5.3%	-8.0%	-9.6%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.1%	0.0%	0.0%	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	-1.2%	-1.4%	4.0%	-5.6%	-2.7%	-0.4%	13.7%	-0.0%	-3.0%	3.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+33.2%	+32.9%	+33.0%	+34.7%	+39.0%	+38.5%	+34.8%	+34.6%	+36.2%	+36.0%
Operating margin	+14.1%	+13.6%	+13.6%	+14.4%	+22.1%	+20.9%	+15.9%	+14.6%	+15.7%	+17.7%
Net margin	+9.0%	+8.8%	+9.2%	+9.6%	+18.5%	+15.2%	+11.1%	+9.8%	+10.4%	+8.9%
FCF margin	+12.3%	+9.2%	+9.3%	+13.3%	+17.0%	+16.8%	+10.9%	+10.8%	+12.5%	+10.8%
Growth
Revenue CAGR (3y)	+3.7%	-2.9%	-0.7%	+8.6%	+12.7%	+8.4%	+2.3%	+0.2%	-0.1%	+0.3%
Returns
ROE	+13.8%	+12.9%	+13.5%	+16.1%	+31.0%	+21.2%	+15.2%	+14.1%	+15.7%	+13.9%
ROA	+6.1%	+5.4%	+6.1%	+7.4%	+14.7%	+10.2%	+6.7%	+6.7%	+7.4%	+6.4%
ROIC	+9.5%	+8.3%	+9.5%	+11.7%	+19.1%	+15.5%	+10.3%	+9.9%	+10.4%	+9.7%
Liquidity
Current ratio	1.04x	1.10x	1.31x	1.22x	1.56x	1.72x	1.25x	0.94x	1.24x	1.56x
Quick ratio	0.80x	0.85x	1.04x	0.97x	1.32x	1.51x	1.13x	0.77x	1.00x	1.31x
Leverage
D/E	1.26x	1.38x	1.22x	1.18x	1.11x	1.08x	1.28x	1.11x	1.13x	1.18x
Interest coverage	5.89x	6.70x	8.30x	10.35x	-15.77x	-12.09x	-7.03x	-6.59x	-7.72x	-8.93x
Efficiency
Asset turnover	0.68x	0.61x	0.66x	0.77x	0.79x	0.67x	0.60x	0.68x	0.70x	0.71x
Cash conversion cycle	-23d	-18d	-21d	-24d	-29d	-30d	-16d	-19d	-26d	-24d

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