QUEST DIAGNOSTICS INC

Listed Company

DGXCIK 0001022079NYSELarge AcceleratedServices-Medical LaboratoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$11.04B

Net Income

$992.00M

Total Assets

$16.23B

Equity

$7.17B

Shares Out

110.70M

Op. Cash Flow

$1.89B

Business

Quest Diagnostics Inc provides diagnostic insights derived from laboratory testing to empower patients, physicians and organizations to improve health outcomes. It offers an industry-leading menu of routine, non-routine and Advanced Diagnostics™, anatomic pathology, data analytics, connectivity solutions, consumer-initiated testing, mobile phlebotomy, employer health services and clinical trial laboratory services. The company operates through two businesses—Diagnostic Information Services and Diagnostic Solutions (including risk assessment and healthcare IT)—organized by clinical franchises and commercial functions. It primarily serves the U.S. market and selected international markets, distributing services via laboratories, patient service centers, couriers and digital platforms.

Summary from filing dated 2025-02-20

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
Net revenues	11,035	9,872	9,252	9,883	10,788
Cost of services	7,370	6,628	6,199	6,450	6,579
Selling, general and administrative	1,967	1,770	1,642	1,874	1,727
Amortization of intangible assets	154	127	108	120	103
Other operating (income) expense, net	−12	1	41	11	−2
Total operating costs and expenses, net	9,479	8,526	7,990	8,455	8,407
Operating income	1,556	1,346	1,262	1,428	2,381
Interest expense, net	−264	−201	−152	−138	—
Other Nonoperating Income (Expense)	26	30	20	−55	369
Total non-operating expense, net	−238	−171	−132	−193	218
Income before income taxes and equity in earnings of equity method investees	1,318	1,175	1,130	1,235	2,599
Income tax expense	−314	−273	−248	−264	−597
Equity in earnings of equity method investees, net of taxes	42	19	26	44	78
Net income	1,046	921	908	1,015	2,080
Less: Net income attributable to noncontrolling interests	54	50	54	69	85
Net income attributable to Quest Diagnostics	992	871	854	946	1,995
Basic (in dollars per share)	8.87	7.78	7.59	8.1	15.85
Diluted (in dollars per share)	8.75	7.69	7.49	7.97	15.55

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	420	549	686	315	872
Accounts receivable, net of allowance for credit losses of $25 and $29 as of December 31, 2025 and 2024, respectively	1,408	1,304	1,210	1,195	1,438
Inventories	189	188	190	192	208
Prepaid expenses and other current assets	361	351	286	196	223
Total current assets	2,378	2,392	2,372	1,898	2,741
Property, plant and equipment, net	2,203	2,113	1,816	1,766	1,707
Operating lease right-of-use assets	657	651	602	585	597
Goodwill	8,945	8,856	7,733	7,220	7,095
Intangible assets, net	1,636	1,763	1,166	1,092	1,167
Investments in equity method investees	136	123	135	132	141
Other assets	270	255	198	144	163
Total assets	16,225	16,153	14,022	12,837	13,611
Accounts payable and accrued expenses	1,600	1,394	1,359	1,396	1,600
Less: Current portion of long-term debt	504	602	303	2	2
Current portion of long-term operating lease liabilities	174	173	153	153	151
Total current liabilities	2,278	2,169	1,815	1,551	1,753
Long-term debt	5,167	5,615	4,410	3,978	4,010
Long-term operating lease liabilities	537	535	503	489	494
Other liabilities	957	938	876	812	792
Commitments and contingencies	—	—	—	—	—
Redeemable noncontrolling interest	80	83	76	77	79
Common stock, par value $0.01 per share; 600 shares authorized as of both December 31, 2025 and 2024; 162 shares issued as of both December 31, 2025 and 2024	2	2	2	2	2
Additional paid-in capital	2,381	2,361	2,320	2,295	2,260
Retained earnings	9,994	9,360	8,825	8,290	7,649
Accumulated other comprehensive loss	−27	−88	−14	−21	−14
Treasury stock, at cost; 52 shares and 51 shares as of December 31, 2025 and 2024, respectively	−5,180	−4,857	−4,826	−4,673	−3,453
Total Quest Diagnostics stockholders equity	7,170	6,778	6,307	5,893	6,444
Noncontrolling interests	36	35	35	37	39
Total stockholders equity	7,206	6,813	6,342	5,930	6,483
Total liabilities and stockholders equity	16,225	16,153	14,022	12,837	13,611

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	570	493	439	437	408
Provision for credit losses	3	5	1	—	—
Deferred income tax provision (benefit)	105	13	−49	1	−57
Stock-based compensation expense	88	88	77	77	79
Other, net	24	15	41	66	−54
Accounts receivable	−106	−71	−15	246	81
Accounts payable and accrued expenses	129	−67	−55	−149	35
Income taxes payable	24	16	−2	−31	−20
Other assets and liabilities, net	3	−79	−73	53	−9
Net cash provided by operating activities	1,886	1,334	1,272	1,718	2,233
Business acquisitions, net of cash acquired	−101	−2,164	−611	−144	−331
Capital expenditures	−527	−425	−408	−404	−403
Other investing activities, net	−3	41	−42	5	0
Net cash used in investing activities	−631	−2,548	−1,061	−543	21
Proceeds from borrowings	410	1,846	2,592	0	0
Repayments of debt	−1,012	−303	−1,844	−2	−2
Purchases of treasury stock	−450	−151	−275	−1,408	−2,199
Exercise of stock options	79	73	72	123	129
Employee payroll tax withholdings on stock issued under stock-based compensation plans	−45	−24	−28	−28	−22
Dividends paid	−353	−331	−314	−305	−309
Distributions to noncontrolling interest partners	−56	−47	−57	−73	−99
Other financing activities, net	39	21	14	−39	−38
Net cash (used in) provided by financing activities	−1,388	1,084	160	−1,732	−2,540
Effect of exchange rate changes on cash and cash equivalents and restricted cash	4	−7	0	0	—
Net change in cash and cash equivalents and restricted cash	−129	−137	371	−557	−286

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro