Labcorp Holdings Inc Financials
This page shows Labcorp Holdings Inc (LH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Labcorp Holdings Inc has an operating margin of 8.3%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 42/100, indicating healthy but not exceptional operating efficiency. This is up from 6.0% the prior year.
Labcorp Holdings Inc's revenue grew 7.0% year-over-year to $13.0B, a solid pace of expansion. This earns a growth score of 48/100.
Labcorp Holdings Inc carries a low D/E ratio of 0.66, meaning only $0.66 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
Labcorp Holdings Inc's current ratio of 1.44 indicates adequate short-term liquidity, earning a score of 38/100. The company can meet its near-term obligations, though with limited headroom.
Labcorp Holdings Inc has a free cash flow margin of 8.4%, earning a moderate score of 42/100. The company generates positive cash flow after capital investments, but with room for improvement.
Labcorp Holdings Inc's ROE of 9.3% shows moderate profitability relative to equity, earning a score of 37/100. This is up from 5.3% the prior year.
Labcorp Holdings Inc scores 2.98, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Labcorp Holdings Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Labcorp Holdings Inc generates $2.13 in operating cash flow ($1.6B OCF vs $746.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Labcorp Holdings Inc earns $5.2 in operating income for every $1 of interest expense ($1.1B vs $208.3M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Labcorp Holdings Inc generated $13.0B in revenue in fiscal year 2024. This represents an increase of 7.0% from the prior year.
Labcorp Holdings Inc's EBITDA was $1.7B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 32.8% from the prior year.
Labcorp Holdings Inc generated $1.1B in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 25.4% from the prior year.
Labcorp Holdings Inc reported $746.0M in net income in fiscal year 2024. This represents an increase of 78.5% from the prior year.
Labcorp Holdings Inc earned $8.84 per diluted share (EPS) in fiscal year 2024. This represents an increase of 85.3% from the prior year.
Labcorp Holdings Inc held $1.5B in cash against $5.3B in long-term debt as of fiscal year 2024.
Labcorp Holdings Inc paid $2.88 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Labcorp Holdings Inc had 83M shares outstanding in fiscal year 2024. This represents a decrease of 0.6% from the prior year.
Labcorp Holdings Inc's gross margin was 27.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the prior year.
Labcorp Holdings Inc's operating margin was 8.3% in fiscal year 2024, reflecting core business profitability. This is up 2.4 percentage points from the prior year.
Labcorp Holdings Inc's net profit margin was 5.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.3 percentage points from the prior year.
Labcorp Holdings Inc's ROE was 9.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 4.0 percentage points from the prior year.
Labcorp Holdings Inc spent $250.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 75.0% from the prior year.
Labcorp Holdings Inc invested $489.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 8.0% from the prior year.
LH Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6B+1.0% | $3.5B+5.4% | $3.3B+0.5% | $3.3B+3.4% | $3.2B+1.4% | $3.2B+4.7% | $3.0B-0.8% | $3.1B |
| Cost of Revenue | $2.5B+2.3% | $2.5B+3.5% | $2.4B-1.5% | $2.4B+6.0% | $2.3B+0.7% | $2.3B+3.0% | $2.2B+0.3% | $2.2B |
| Gross Profit | $1.0B-2.0% | $1.0B+10.4% | $948.0M+5.8% | $896.3M-3.2% | $926.4M+3.2% | $897.3M+9.2% | $821.4M-3.5% | $851.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $552.4M-4.6% | $579.3M+6.1% | $546.0M-8.3% | $595.2M+6.7% | $557.8M+9.7% | $508.4M-4.6% | $532.9M+1.4% | $525.5M |
| Operating Income | $396.6M+0.5% | $394.5M+21.0% | $326.0M+50.6% | $216.5M-26.6% | $294.8M-8.2% | $321.3M+361.6% | -$122.8M-148.7% | $252.3M |
| Interest Expense | $56.0M-1.9% | $57.1M+2.0% | $56.0M-11.7% | $63.4M+33.2% | $47.6M+1.5% | $46.9M-3.9% | $48.8M-3.0% | $50.3M |
| Income Tax | $75.5M+13.7% | $66.4M+6.8% | $62.2M+54.7% | $40.2M-35.3% | $62.1M-10.1% | $69.1M+250.8% | $19.7M-64.2% | $55.1M |
| Net Income | $261.1M+9.8% | $237.9M+11.8% | $212.8M+48.4% | $143.4M-30.2% | $205.3M-10.0% | $228.0M+236.4% | -$167.1M-191.2% | $183.3M |
| EPS (Diluted) | $3.12+9.9% | $2.84+12.7% | $2.52+46.5% | $1.72-29.2% | $2.43-9.7% | $2.69+245.4% | $-1.85-187.7% | $2.11 |
LH Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.3B+1.1% | $18.1B+2.6% | $17.6B-4.2% | $18.4B+10.0% | $16.7B+1.1% | $16.5B-1.2% | $16.7B-1.0% | $16.9B |
| Current Assets | $4.1B-0.2% | $4.1B+7.9% | $3.8B-21.2% | $4.8B+34.6% | $3.6B+3.3% | $3.5B-8.2% | $3.8B-4.8% | $4.0B |
| Cash & Equivalents | $598.1M-7.6% | $647.3M+75.2% | $369.4M-75.7% | $1.5B+472.9% | $265.1M+167.0% | $99.3M-81.5% | $536.8M-26.3% | $727.9M |
| Inventory | $521.5M+2.6% | $508.1M+4.1% | $488.3M-1.0% | $493.2M+11.6% | $441.8M-7.0% | $475.0M+0.1% | $474.6M+2.9% | $461.1M |
| Accounts Receivable | $2.1B-0.5% | $2.1B-0.1% | $2.1B+9.2% | $1.9B-6.9% | $2.1B+0.2% | $2.1B+8.9% | $1.9B-2.2% | $2.0B |
| Goodwill | $6.7B+2.0% | $6.6B+2.0% | $6.4B+0.8% | $6.4B+2.4% | $6.2B0.0% | $6.2B+1.2% | $6.1B-3.0% | $6.3B |
| Total Liabilities | $9.5B-0.2% | $9.6B+3.1% | $9.3B-10.0% | $10.3B+18.7% | $8.7B+1.6% | $8.6B-3.2% | $8.8B-1.8% | $9.0B |
| Current Liabilities | $2.6B-3.2% | $2.7B+31.6% | $2.1B-38.0% | $3.3B-18.1% | $4.1B+3.1% | $3.9B+22.2% | $3.2B+11.2% | $2.9B |
| Long-Term Debt | $5.1B+0.1% | $5.1B-8.8% | $5.6B+4.5% | $5.3B+74.9% | $3.0B0.0% | $3.0B-24.8% | $4.1B-8.4% | $4.4B |
| Total Equity | $8.7B+2.6% | $8.5B+2.0% | $8.3B+3.2% | $8.1B+0.6% | $8.0B+0.6% | $8.0B+1.1% | $7.9B0.0% | $7.9B |
| Retained Earnings | $8.7B+2.4% | $8.5B+0.5% | $8.5B+1.8% | $8.3B+1.5% | $8.2B+1.5% | $8.1B+2.1% | $7.9B-2.2% | $8.1B |
LH Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $387.2M-37.6% | $620.6M+3254.6% | $18.5M-97.6% | $777.2M+38.5% | $561.1M+1982.9% | -$29.8M-105.1% | $579.6M+110.4% | $275.5M |
| Capital Expenditures | $106.7M+37.0% | $77.9M-38.2% | $126.0M+12.4% | $112.1M-12.6% | $128.2M-4.2% | $133.8M-20.0% | $167.2M+59.4% | $104.9M |
| Free Cash Flow | $280.5M-48.3% | $542.7M+604.8% | -$107.5M-116.2% | $665.1M+53.6% | $432.9M+364.6% | -$163.6M-139.7% | $412.4M+141.7% | $170.6M |
| Investing Cash Flow | -$374.0M-297.4% | -$94.1M+72.0% | -$336.0M-60.3% | -$209.6M-13.3% | -$185.0M+52.9% | -$393.1M-18.9% | -$330.6M+32.2% | -$487.6M |
| Financing Cash Flow | -$59.5M+77.7% | -$267.4M+68.2% | -$839.7M-53.6% | -$546.7M-160.3% | -$210.0M-1694.9% | -$11.7M+97.4% | -$446.5M+59.3% | -$1.1B |
| Dividends Paid | $60.7M+0.8% | $60.2M-2.3% | $61.6M+2.5% | $60.1M-0.2% | $60.2M-3.1% | $62.1M+1.6% | $61.1M-5.4% | $64.6M |
| Share Buybacks | $25.0M | N/A | N/A | $75.1M | N/A | N/A | -$9.0M-100.9% | $1.0B |
LH Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.8%-0.9pp | 29.7%+1.3pp | 28.3%+1.4pp | 26.9%-1.8pp | 28.8%+0.5pp | 28.2%+1.2pp | 27.1%-0.8pp | 27.9% |
| Operating Margin | 11.1%-0.1pp | 11.2%+1.4pp | 9.8%+3.3pp | 6.5%-2.6pp | 9.2%-1.0pp | 10.1%+14.2pp | -4.0%-12.3pp | 8.3% |
| Net Margin | 7.3%+0.6pp | 6.7%+0.4pp | 6.4%+2.1pp | 4.3%-2.1pp | 6.4%-0.8pp | 7.2%+12.7pp | -5.5%-11.5pp | 6.0% |
| Return on Equity | 3.0%+0.2pp | 2.8%+0.2pp | 2.6%+0.8pp | 1.8%-0.8pp | 2.6%-0.3pp | 2.9% | N/A | 2.3% |
| Return on Assets | 1.4%+0.1pp | 1.3%+0.1pp | 1.2%+0.4pp | 0.8%-0.5pp | 1.2%-0.1pp | 1.4%+2.4pp | -1.0%-2.1pp | 1.1% |
| Current Ratio | 1.55+0.0 | 1.50-0.3 | 1.84+0.4 | 1.44+0.6 | 0.880.0 | 0.88-0.3 | 1.17-0.2 | 1.36 |
| Debt-to-Equity | 0.58-0.0 | 0.60-0.1 | 0.670.0 | 0.66+0.3 | 0.380.0 | 0.38-0.1 | 0.51-0.0 | 0.56 |
| FCF Margin | 7.9%-7.5pp | 15.4%+18.6pp | -3.2%-23.2pp | 20.0%+6.5pp | 13.4%+18.6pp | -5.1%-18.8pp | 13.6%+8.0pp | 5.6% |
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Frequently Asked Questions
What is Labcorp Holdings Inc's annual revenue?
Labcorp Holdings Inc (LH) reported $13.0B in total revenue for fiscal year 2024. This represents a 7.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Labcorp Holdings Inc's revenue growing?
Labcorp Holdings Inc (LH) revenue grew by 7% year-over-year, from $12.2B to $13.0B in fiscal year 2024.
Is Labcorp Holdings Inc profitable?
Yes, Labcorp Holdings Inc (LH) reported a net income of $746.0M in fiscal year 2024, with a net profit margin of 5.7%.
What is Labcorp Holdings Inc's earnings per share (EPS)?
Labcorp Holdings Inc (LH) reported diluted earnings per share of $8.84 for fiscal year 2024. This represents a 85.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Labcorp Holdings Inc's EBITDA?
Labcorp Holdings Inc (LH) had EBITDA of $1.7B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Labcorp Holdings Inc have?
As of fiscal year 2024, Labcorp Holdings Inc (LH) had $1.5B in cash and equivalents against $5.3B in long-term debt.
What is Labcorp Holdings Inc's gross margin?
Labcorp Holdings Inc (LH) had a gross margin of 27.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Labcorp Holdings Inc's operating margin?
Labcorp Holdings Inc (LH) had an operating margin of 8.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Labcorp Holdings Inc's net profit margin?
Labcorp Holdings Inc (LH) had a net profit margin of 5.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Labcorp Holdings Inc pay dividends?
Yes, Labcorp Holdings Inc (LH) paid $2.88 per share in dividends during fiscal year 2024.
What is Labcorp Holdings Inc's return on equity (ROE)?
Labcorp Holdings Inc (LH) has a return on equity of 9.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Labcorp Holdings Inc's free cash flow?
Labcorp Holdings Inc (LH) generated $1.1B in free cash flow during fiscal year 2024. This represents a 25.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Labcorp Holdings Inc's operating cash flow?
Labcorp Holdings Inc (LH) generated $1.6B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Labcorp Holdings Inc's total assets?
Labcorp Holdings Inc (LH) had $18.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Labcorp Holdings Inc's capital expenditures?
Labcorp Holdings Inc (LH) invested $489.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Labcorp Holdings Inc buy back shares?
Yes, Labcorp Holdings Inc (LH) spent $250.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Labcorp Holdings Inc have outstanding?
Labcorp Holdings Inc (LH) had 83M shares outstanding as of fiscal year 2024.
What is Labcorp Holdings Inc's current ratio?
Labcorp Holdings Inc (LH) had a current ratio of 1.44 as of fiscal year 2024, which is considered adequate.
What is Labcorp Holdings Inc's debt-to-equity ratio?
Labcorp Holdings Inc (LH) had a debt-to-equity ratio of 0.66 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Labcorp Holdings Inc's return on assets (ROA)?
Labcorp Holdings Inc (LH) had a return on assets of 4.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Labcorp Holdings Inc's Altman Z-Score?
Labcorp Holdings Inc (LH) has an Altman Z-Score of 2.98, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Labcorp Holdings Inc's Piotroski F-Score?
Labcorp Holdings Inc (LH) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Labcorp Holdings Inc's earnings high quality?
Labcorp Holdings Inc (LH) has an earnings quality ratio of 2.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Labcorp Holdings Inc cover its interest payments?
Labcorp Holdings Inc (LH) has an interest coverage ratio of 5.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Labcorp Holdings Inc?
Labcorp Holdings Inc (LH) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.