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NYSE · SERVICES-MEDICAL LABORATORIES · LARGE CAP

Quest Diagnostics Inc. DGX

19 fiscal years on record · USD · FY2025 reported · SEC filings only
7 YEARS OF DIVIDEND GROWTH
$11.0B
▲ 11.8% YoY
$992.0M
▲ 13.9% YoY
$1.4B
▲ 49.5% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company provides information and insights based on a menu of routine, non-routine and advanced clinical testing and anatomic pathology testing, and other diagnostic information services. The patients the company serves annually comprise approximately one-third of the adult population of the United States, and over a three-year period it serves approximately one-half of the adult population of the United States. During 2025, the company generated net revenues of $11.0 billion. The Company is made up of two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic information services based on the results of laboratory testing. The Diagnostic Solutions group includes the risk assessment services business, which offers solutions for insurers, and the healthcare IT businesses, which offer solutions for healthcare providers and payers. Quest Diagnostics was incorporated in Delaware in 1990, and its predecessor companies date back to 1967.

Written from the business description in QUEST DIAGNOSTICS INC's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth

USD 11.0B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 11.0 · Net income 1.0
5B10B
2007201020132016201920222025
Compound annual growth
+3.7%
+3.2%
+3.9%
+2.8%
+1.6%
−7.1%
+3.4%
+2.2%
+3.2%
−3.5%
+6.0%
+5.3%
+10.9%
+17.3%
+16.2%
−23.1%
+10.8%
+6.8%
−0.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +3.2% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

9 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 14.1% · Net 9.5%
10%20%
200720162025
ROE
FY2025 · ROE 14.2%
10%20%30%
200720162025
Three returns, three denominators.
Gross margin33.2%
Operating margin14.1%
Net margin9.5%
EBITDAUSD 2.1B

Each USD of equity produced 14 cents of profit this year.

Cash & shareholders

USD 724.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 1.4
1B2B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.4 · Net buybacks 0.4
1B2BDividendsNet buybacks
2007201020132016201920222025
Dividends paidUSD 353.0M
Net buybacksUSD 371.0M
Share of profit73.0%
Consecutive raises7 years

USD 353.0M in dividends and USD 371.0M in buybacks — 73% of the year's profit went back to shareholders.

Total assetsUSD 16.2B
EquityUSD 7.2B
CashUSD 420.0M
Gross debtUSD 5.7B
Net debtUSD 5.3B
Current ratio1.04×

Net debt stands at 73% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
DGX, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B11.09.99.39.910.89.47.77.57.47.27.57.47.17.47.47.37.57.26.7
Operating income $B1.61.31.31.42.42.01.21.11.21.31.41.01.51.21.01.31.41.21.1
EBITDA $B2.11.81.71.92.82.31.61.41.41.51.71.31.81.51.31.51.61.51.3
Income tax $B0.30.30.20.30.60.50.20.20.20.40.40.30.50.40.40.40.50.40.4
Net income $B1.00.90.90.92.01.40.90.70.80.60.70.60.80.60.50.70.70.60.3
Free cash flow $B1.40.90.91.31.81.60.80.80.90.80.60.60.41.00.70.90.80.90.7
EPS, diluted $8.757.697.497.9715.5510.476.285.295.504.514.873.815.543.462.924.053.872.961.74
Dividend / sh $◌◌◌◌◌◌◌◌1.801.651.521.321.200.810.470.400.400.400.40
Payout %36383732152133363235303422191410101323
ROE %14.213.314.015.330.223.115.814.516.213.915.813.520.914.212.218.019.216.710.2

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

Quest Diagnostics Inc.vsHCA Healthcare, Inc.Same industry: Services-Medical LaboratoriesQuest Diagnostics Inc.vsTenet Healthcare Corp.Same industry: Services-Medical LaboratoriesQuest Diagnostics Inc.vsUniversal Health Services Inc.Same industry: Services-Medical LaboratoriesQuest Diagnostics Inc.vsFresenius Medical Care AGSame industry: Services-Medical LaboratoriesQuest Diagnostics Inc.vsLabcorp Holdings Inc.Same industry: Services-Medical LaboratoriesQuest Diagnostics Inc.vsDaVita Inc.Same industry: Services-Medical LaboratoriesQuest Diagnostics Inc.vsBrightSpring Health Services, Inc.Same industry: Services-Medical Laboratories
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Provenance

Company facts, as filed

How we verify · 0 failures in 85 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2008. One check was skipped: the share count is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Medical Laboratories
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

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