DGX vs THC
Quest Diagnostics Inc. and Tenet Healthcare Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | DGX | THC |
|---|---|---|
| Revenue | $11.0B | $21.3B |
| Net income | $992.0M | $2.4B |
| Gross margin | 33.2% | · |
| Net margin | 9.5% | 11.1% |
| Return on equity | 14.2% | · |
| Diluted EPS | $8.75 | $15.49 |
| Dividend / share | · | · |
| Payout ratio | 35.6% | · |
| Free cash flow | $1.4B | $2.5B |
| Equity | $7.2B | $4.2B |
| Net debt / equity | 0.73× | 2.42× |
| Current ratio | 1.04× | 1.76× |
| Revenue CAGR 5y | 3.2% | 3.9% |
| Profit CAGR 5y | −7.1% | 25.2% |
THC bills 1.9× the revenue of DGX, and keeps more of each dollar of revenue as profit (11.1% against 9.5%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | DGX | THC |
|---|---|---|
| FY2025 | $11.0B | $21.3B |
| FY2024 | $9.9B | $20.7B |
| FY2023 | $9.3B | $20.6B |
| FY2022 | $9.9B | $19.2B |
| FY2021 | $10.8B | $19.5B |
| FY2020 | $9.4B | $17.6B |
| FY2019 | $7.7B | $18.5B |
| FY2018 | $7.5B | $18.3B |
| FY2017 | $7.4B | $20.6B |
| FY2016 | $7.2B | $21.1B |
Bottom line
| Fiscal year | DGX | THC |
|---|---|---|
| FY2025 | $992.0M | $2.4B |
| FY2024 | $871.0M | $4.1B |
| FY2023 | $854.0M | $1.3B |
| FY2022 | $946.0M | $1.0B |
| FY2021 | $2.0B | $1.5B |
| FY2020 | $1.4B | $768.0M |
| FY2019 | $858.0M | $171.0M |
| FY2018 | $736.0M | $459.0M |
| FY2017 | $772.0M | $-320.0M |
| FY2016 | $645.0M | $176.0M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$10,275,000,000 | THC |
| FY2024 | −$10,803,000,000 | THC |
| FY2023 | −$11,312,000,000 | THC |
| FY2022 | −$9,291,000,000 | THC |
| FY2021 | −$8,697,000,000 | THC |
| FY2020 | −$8,203,000,000 | THC |
| FY2019 | −$10,753,000,000 | THC |
| FY2018 | −$10,782,000,000 | THC |
| FY2017 | −$13,211,000,000 | THC |
| FY2016 | −$13,856,000,000 | THC |
| FY2015 | −$12,618,000,000 | THC |
| FY2014 | −$10,473,000,000 | THC |
| FY2013 | −$4,913,000,000 | THC |
| FY2012 | −$2,521,000,000 | THC |
| FY2011 | −$1,262,000,000 | THC |
| FY2010 | −$1,004,880,000 | THC |
| FY2009 | −$862,757,000 | THC |
| FY2008 | −$1,335,553,000 | THC |
THC has reported the higher revenue in every one of these 18 fiscal years. The gap has widened since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −1.6 pp | THC |
| FY2024 | −10.3 pp | THC |
| FY2023 | +3.4 pp | DGX |
| FY2022 | +5.0 pp | DGX |
| FY2021 | +11.7 pp | DGX |
| FY2020 | +11.5 pp | DGX |
| FY2019 | +10.8 pp | DGX |
| FY2018 | +8.0 pp | DGX |
| FY2017 | +12.7 pp | DGX |
| FY2016 | +8.8 pp | DGX |
| FY2015 | +9.7 pp | DGX |
| FY2014 | +7.5 pp | DGX |
| FY2013 | +13.2 pp | DGX |
| FY2012 | +6.7 pp | DGX |
| FY2011 | +5.8 pp | DGX |
| FY2010 | −3.5 pp | THC |
| FY2009 | +7.9 pp | DGX |
| FY2008 | +8.1 pp | DGX |
The higher net margin has changed hands between DGX and THC over this period.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
THC's net margin has been more volatile than DGX's over the 18 comparable fiscal years — 5.5 percentage points of standard deviation against 2.8.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between DGX and THC over these 18 fiscal years — DGX led in 15 and THC in 3.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
THC's return on equity has been more volatile than DGX's over the 3 comparable fiscal years — 31.2 percentage points of standard deviation against 1.0.
3 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
THC led in return on equity in every one of the 3 comparable fiscal years — a structural lead, not a recent swing.
3 of 19 comparable fiscal years — a year missing data on either side is not counted.