LABCORP HOLDINGS INC.

Listed Company

LHCIK 0000920148NYSELarge AcceleratedServices-Medical LaboratoriesFY ends Dec 31

Period

FY 2025

Revenue

$13.95B

Net Income

$876.50M

Total Assets

$18.39B

Equity

$8.62B

Shares Out

82.40M

Op. Cash Flow

$1.64B

Business

Labcorp Holdings Inc. is a global provider of laboratory services that delivers diagnostic and drug development information to support clinical decision-making for healthcare providers, biopharma customers, researchers, and patients. The Company offers routine and specialty clinical testing, anatomic pathology, genetic and genomic assays, consumer wellness tests, central laboratory services, early development research, bioanalytical and safety assessment services, and technology-enabled data and analytics solutions. Labcorp reports through two segments: Diagnostics Laboratories (Dx) and Biopharma Laboratory Services (BLS). Its services are distributed via a network of patient service centers, in‑office phlebotomists, centralized labs, direct-to-consumer channels, and global central laboratory operations across approximately 100 countries.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	13,952	13,009	12,162	11,864	13,136
Cost of revenues	9,939	9,385	8,797	8,155	8,144
Gross profit	4,013	3,624	3,365	3,709	4,992
Selling, general, and administrative expenses	2,216	2,230	2,021	1,763	1,690
Amortization of intangibles and other assets	280	256	220	194	230
Asset Impairment Charges	4	5	349	262	—
Restructuring and other charges	127	46	49	—	—
Operating income	1,385	1,087	726	1,437	3,049
Interest expense	−224	−208	−200	−180	−212
Investment income	15	22	29	8	9
Equity method loss, net	−13	−1	−1	5	27
Other, net	−55	60	16	−32	16
Earnings from continuing operations before income taxes	1,108	960	569	1,237	2,888
Provision for income taxes	230	212	189	234	690
Earnings from continuing operations	878	747	380	1,004	2,198
Earnings from discontinued operations, net of tax	0	0	39	277	182
Net earnings	878	747	419	1,281	2,380
Less: Net earnings attributable to the noncontrolling interest	−1	−1	−1	−2	−2
Net earnings attributable to Labcorp Holdings Inc.	877	746	418	1,279	2,377
Basic earnings per share from continuing operations	10.54	8.89	4.35	11	22.71
Basic earnings per share from discontinued operations	0	0	0.45	3.04	1.88
Basic earnings per share	10.54	8.89	4.8	14.05	24.6
Diluted earnings per share from continuing operations	10.46	8.84	4.33	10.94	22.52
Diluted earnings per share from discontinued operations	0	0	0.44	3.03	1.87
Diluted earnings per share	10.46	8.84	4.77	13.97	24.39

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	532	1,519	537	321	1,473
Accounts receivable, net	2,104	1,944	1,913	1,786	2,262
Unbilled services, net	157	153	185	212	717
Supplies inventory	535	493	475	471	401
Prepaid Expense and Other Assets, Current	693	698	—	—	—
Total current assets	4,021	4,807	3,765	4,625	5,331
Property, plant, and equipment, net	3,082	3,045	2,912	2,794	2,815
Goodwill, net	6,790	6,370	6,143	6,124	5,891
Intangible assets, net	3,596	3,489	3,342	3,124	3,736
Joint venture partnerships and equity method investments	154	16	27	66	61
Other assets, net	751	652	537	378	463
Total assets	18,393	18,379	16,725	20,155	20,385
Accounts payable	841	876	828	852	621
Accrued expenses and other	848	871	804	787	1,404
Unearned revenue	439	392	422	311	559
Short-term operating lease liabilities	191	185	166	164	187
Short-term finance lease liabilities	5	6	6	6	11
Short-term borrowings and current portion of long-term debt	500	1,000	—	—	—
Total current liabilities	2,824	3,330	3,225	3,079	2,783
Long-term debt	5,085	5,331	4,055	5,039	5,417
Operating lease liabilities	683	676	649	653	643
Financing lease liabilities	63	74	79	84	85
Deferred Income Taxes and Other Tax Liabilities, Noncurrent	455	383	—	—	—
Other liabilities	648	517	409	401	402
Total liabilities	9,756	10,313	8,835	10,040	10,091
Commitments and contingent liabilities	—	—	—	—	—
Noncontrolling interest	17	14	16	19	21
Common stock, 82.2 and 83.4 shares outstanding at December 31, 2025, and 2024, respectively	8	8	8	8	9
Additional paid-in capital	0	3	38	0	0
Retained earnings	8,640	8,303	7,888	10,582	10,457
Accumulated other comprehensive loss	−28	−262	−59	−493	−192
Total shareholders equity	8,620	8,052	7,875	10,097	10,273
Total liabilities and shareholders equity	18,393	18,379	16,725	20,155	20,385

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	681	644	577	537	577
Stock compensation	126	117	129	117	133
Operating lease right-of-use asset expense	208	185	168	—	—
Non-cash portion of Restructuring and other charges	101	0	0	—	—
Deferred income taxes	98	−20	−78	−26	−37
Other, net	71	62	39	23	−34
Increase in accounts receivable	−126	−52	−104	47	267
Decrease in unbilled services	3	30	29	−23	−41
Increase in supplies inventory	−30	−13	−700,000	−46	3
Increase in prepaid expenses and other	−25	−55	−26	−244	−42
(Decrease) increase in accounts payable	−53	72	−42	285	−5
Increase (decrease) in unearned revenue	35	−25	106	68	4
Decrease in accrued expenses and other	−330	−113	−323	−463	−340
Net cash provided by continuing operating activities	1,641	1,586	1,202	—	—
Net cash provided by discontinued operating activities	0	0	125	—	—
Net cash provided by operating activities	1,641	1,586	1,328	1,956	3,110
Capital expenditures	−435	−490	−454	−429	−422
Purchase of equity affiliates or other investments	−192	−55	−29	—	—
Proceeds from sale of assets	8	2	600,000	1	87
Proceeds from sale or distribution of equity affiliates or other investments	7	0	7	5	13
Proceeds from sale of business	0	15	0	2	0
Acquisition of businesses, net of cash acquired	−582	−839	−672	−1,164	−497
Net cash used for continuing investing activities	−1,194	−1,367	−1,147	—	—
Net cash used for discontinued investing activities	0	0	−25	—	—
Net cash used for investing activities	−1,194	−1,367	−1,172	−1,652	−885
Proceeds from senior note offerings	0	2,000	0	0	1,000
Payments on senior notes	−1,000	−1,000	−300	0	−1,000
Proceeds from accounts receivable securitization	225	300	0	0	—
Proceeds from revolving credit facilities	65	2,464	2,488	787	0
Payments on revolving credit facilities	−65	−2,464	−2,488	−787	0
Net share settlement tax payments from issuance of stock to employees	−32	−46	−40	−51	—
Net proceeds from issuance of stock to employees	54	56	54	51	52
Dividends paid	−241	−243	−254	−195	—
Purchase of common stock	−450	−250	−1,000	−1,100	−1,669
Other, net	−14	−37	−20	−27	−27
Net cash (used for) provided by continuing financing activities	−1,457	780	−1,559	—	—
Net cash provided by discontinued financing activities	0	0	1,500	—	—
Net cash (used for) provided by financing activities	−1,457	780	−59	−1,322	−2,066
Effect of exchange rate changes on cash and cash equivalents	24	−17	10	−24	−7
Net (decrease) increase in cash and cash equivalents	−986	982	107	−1,043	152

Filings

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