NYSE · Financial Statements

Quest Diagnostics Incorporated (DGX) Financial Statements

$241.89 NYSE: DGX Market Cap $26.70B

Quest Diagnostics Incorporated most recently reported annual revenue of $11.0B, net profit of $992.0M. Revenue grew at an average annual rate of 3.2% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Quest Diagnostics Incorporated: Revenue rose from $7.5B in 2016 to $11.0B in 2025, a change of +46.8% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 17.0% to 14.5%, a shift of -2.5 percentage points; the most recent year shows net profit of $992.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$7.5B$7.7B$7.5B$7.7B$9.4B$10.8B$9.9B$9.3B$9.9B$11.0B
Operating Expenses$6.2B$6.5B$6.4B$6.5B$7.5B$8.4B$8.5B$8.0B$8.5B$9.4B
Operating Profit$1.3B$1.2B$1.1B$1.2B$2.0B$2.4B$1.4B$1.3B$1.3B$1.6B
Operating Margin17.0%15.1%14.6%15.9%20.9%22.1%14.4%13.6%13.6%14.5%
Other Income$-142.0M$-135.0M$-175.0M$-98.0M$-12.0M$296.0M$-149.0M$-106.0M$-152.0M$-243.0M
Interest$143.0M$153.0M$169.0M$180.0M$166.0M$152.0M$148.0M$163.0M$226.0M$277.0M
Depreciation$249.0M$270.0M$309.0M$329.0M$361.0M$408.0M$437.0M$439.0M$493.0M$570.0M
Profit Before Tax$1.1B$1.0B$926.0M$1.1B$2.0B$2.7B$1.3B$1.2B$1.2B$1.4B
Tax$39.5M$23.4M$19.6M$21.8M$23.5M$22.3M$20.6M$21.4M$22.9M$23.1M
Net Profit$645.0M$772.0M$736.0M$858.0M$1.4B$2.0B$946.0M$854.0M$871.0M$992.0M
EPS$4.51$5.50$5.29$6.29$10.52$15.53$7.98$7.52$7.69$8.75
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$2.3B$2.3B$2.4B$2.4B$2.5B$2.6B$2.7B$2.8B$2.8B$2.8B$2.9B$3.0B
Operating Expenses$2.0B$2.0B$2.1B$2.0B$2.2B$2.3B$2.3B$2.3B$2.4B$2.4B$2.5B$2.6B
Operating Profit$342.0M$267.0M$300.0M$355.0M$330.0M$361.0M$346.0M$438.0M$386.0M$391.0M$399.0M$459.0M
Operating Margin14.9%11.7%12.7%14.8%13.3%13.8%13.1%15.9%13.7%13.9%13.8%15.1%
Interest$41.0M$46.0M$49.0M$47.0M$58.0M$72.0M$72.0M$69.0M$69.0M$67.0M$63.0M$63.0M
Profit Before Tax$305.0M$245.0M$274.0M$314.0M$302.0M$304.0M$294.0M$393.0M$336.0M$337.0M$334.0M$412.0M
Tax$22.3M$16.3M$24.1M$23.6M$21.5M$22.4M$20.1M$24.7M$22.9M$24.0M$22.2M$21.4M
Net Profit$225.0M$192.0M$194.0M$229.0M$226.0M$222.0M$220.0M$282.0M$245.0M$245.0M$252.0M$320.0M
EPS$1.96$1.70$1.72$2.04$1.99$1.95$1.94$2.47$2.16$2.18$2.24$2.84

Over the 10 years reported for Quest Diagnostics Incorporated, borrowings increased from $3.7B in 2016 to $6.9B in 2025, cash stood at $420.0M in the latest year, shareholders' equity was $2.0M, current assets covered current liabilities 1.04 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$10.1B$10.5B$11.0B$12.8B$14.0B$13.6B$12.8B$14.0B$16.2B$16.2B
Current Assets$1.5B$1.3B$1.4B$2.5B$3.1B$2.7B$1.9B$2.4B$2.4B$2.4B
Cash$359.0M$137.0M$135.0M$1.2B$1.2B$872.0M$315.0M$686.0M$549.0M$420.0M
Inventory$82.0M$95.0M$99.0M$123.0M$223.0M$208.0M$192.0M$190.0M$188.0M$189.0M
Receivables$926.0M$924.0M$1.0B$1.1B$1.5B$1.4B$1.2B$1.2B$1.3B$1.4B
Fixed Assets$1.0B$1.1B$1.3B$2.0B$2.2B$2.3B$2.4B$2.4B$2.8B$2.9B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$443.0M$462.0M$436.0M$482.0M$521.0M$141.0M$132.0M$135.0M$123.0M$136.0M
Other Assets$6.0B$6.3B$6.6B$6.6B$6.9B$7.1B$7.2B$7.7B$8.9B$8.9B
Total Liabilities$5.4B$5.5B$5.7B$7.1B$7.1B$7.0B$6.8B$7.6B$9.3B$8.9B
Current Liabilities$981.0M$1.1B$1.5B$2.0B$1.8B$1.8B$1.6B$1.8B$2.2B$2.3B
Borrowings$3.7B$3.9B$4.0B$5.4B$4.8B$4.8B$4.7B$5.5B$7.1B$6.9B
Other Liabilities$1.6B$1.6B$1.7B$1.7B$2.3B$2.3B$2.1B$2.1B$2.2B$2.0B
Equity$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M
Reserves$4.6B$4.9B$5.2B$5.6B$6.8B$6.4B$5.9B$6.3B$6.8B$7.2B

For Quest Diagnostics Incorporated, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $1.4B; free cash flow was positive in 10 of 10 years; financing activities used $512.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$1.1B$1.2B$1.2B$1.2B$2.0B$2.2B$1.7B$1.3B$1.3B$1.9B
Investing Cash Flow$-445.0M$-1.1B$-1.2B$-811.0M$-1.2B$-382.0M$-947.0M$-1.5B$-3.0B$-1.2B
Financing Cash Flow$-609.0M$-368.0M$-259.0M$-321.0M$-165.0M$-2.2B$-1.4B$-274.0M$-128.0M$-512.0M
Net Cash Flow$226.0M$-222.0M$-2.0M$1.1B$-34.0M$-286.0M$-557.0M$371.0M$-137.0M$-129.0M
Free Cash Flow$776.0M$923.0M$817.0M$843.0M$1.6B$1.8B$1.3B$864.0M$909.0M$1.4B

Valuation & Return Ratios

MetricValue
PEG Ratio1.94
EV / EBITDA15.69
FCF Yield4.74%
Quick Ratio1.46
Interest Coverage6.24
Return 1Y34.72%
Return 3Y107.90%
Return 5Y76.18%

Quest Diagnostics Incorporated (DGX) financials — frequently asked questions

What is Quest Diagnostics Incorporated's annual revenue?

Quest Diagnostics Incorporated (DGX) reported annual revenue of $11.0B in its most recent fiscal year.

What is Quest Diagnostics Incorporated's net profit?

Quest Diagnostics Incorporated (DGX) reported net profit of $992.0M in its most recent fiscal year.

What is DGX EV/EBITDA?

Quest Diagnostics Incorporated's enterprise value to EBITDA (EV/EBITDA) ratio is 15.69.

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