DGX Healthcare

Quest Diagnostics Incorporated

$247.06-1.50%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Healthcare
Industry: Diagnostics & Research
Country: United States
Market cap: 27.3B USD
Enterprise value: 31.0B USD
Full-time employees: 46,000

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.59 vs a peer median of 2.59) and more debt relative to equity (0.75× vs a peer median of 0.22×)higher risk: less liquidity (current ratio 1.59 vs peers 2.59) and more debt vs equity (0.75× vs peers 0.22×)
About average: growth

Ranks #499 of 1,157 healthcare companies (top 44%)

See how it ranks against its peers

Worth knowing

Profit is backed by cash. Free cash flow is 127% of reported profit.
Quest Diagnostics's free cash flow is 127% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

55/ 100▲ 1 since Oct 27 close

Oct 5 55 → Nov 4 55

Valuation

Is the price right?

66/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ Earnings yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.9%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 1.63Sector median: 0.0148 · MAD: 0.0148

EBITDA yield6.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.71Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield4.9%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield27.6%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

52/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.5%

Why

Helped by:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth13.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.12Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth6.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.11Sector median: 0.0584 · MAD: 0.0840

Revenue growth9.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.39Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

72/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ Operating margin
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin14.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.58Sector median: 0.0706 · MAD: 0.1217

Return on assets6.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.86Sector median: 0.0166 · MAD: 0.0537

Return on invested capital10.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.55Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin33.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity14.1%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.54

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.25Sector median: 0.6250 · MAD: 0.3380

Current ratio1.59×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.72Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.75×

SEC filings · latest balance sheetReported value33% base weight · Z-score -2.59Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Quest Diagnostics

Is Quest Diagnostics getting weaker?: Its latest SEC filing (Jul 23, 2026) showed no major changes. Its overall score is 55/100, up 1 since Oct 28, 2026.
How is Quest Diagnostics valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 66/100 against 1,393 healthcare peers. Earnings yield 3.9% vs a peer median of 1.5% (stronger than 70% of peers).Earnings yield 3.9% vs peers 1.5% (stronger than 70% of peers).
Is Quest Diagnostics growing?: At about the same pace as its peers. Growth scores 52/100 against 1,393 healthcare peers. Revenue growth 9.9% vs a peer median of 6.1% (stronger than 61% of peers).Revenue growth 9.9% vs peers 6.1% (stronger than 61% of peers).
How profitable is Quest Diagnostics?: More profitable than most of its peers. Profitability scores 72/100 against 1,393 healthcare peers. Return on assets 6.3% vs a peer median of 1.7% (stronger than 78% of peers).Return on assets 6.3% vs peers 1.7% (stronger than 78% of peers).
How risky is Quest Diagnostics?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.75× vs a peer median of 0.22× (weaker than 76% of peers).Debt / equity 0.75× vs peers 0.22× (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 23, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	11.3B USD	11.6B USD	+2.5%
Net income (12 months)	1.0B USD	1.1B USD	+3.7%
Operating margin	14.3%	14.1%	−0.2 pts
Free cash flow (12 months)	1.3B USD	1.3B USD	+1.7%
Debt	5.7B USD	5.6B USD	−0.3%
Cash	393.0M USD	626.0M USD	+59.3%
Shares outstanding	110.7M	110.4M	−0.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Diagnostics & Research · 26 companies

Valuations in Diagnostics & Research are within their usual range since Nov 2018.

53% of months since Nov 2018 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +109% vs the whole market, against a usual +111%.

Nov 2018Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	—	—	—	—	—	—
Operating margin	22.1%	14.4%	13.6%	13.6%	14.1%	▲ 0.5 pts
Net margin	18.5%	9.6%	9.2%	8.8%	9.0%	▲ 0.2 pts
Return on assets (ROA)	14.7%	7.4%	6.1%	5.4%	6.1%	▲ 0.7 pts
Return on equity (ROE)	31.0%	16.1%	13.5%	12.9%	13.8%	▲ 1.0 pts
Free cash flow margin	17.0%	13.3%	9.3%	9.2%	12.3%	▲ 3.1 pts
Current ratio	1.56×	1.22×	1.31×	1.10×	1.04×	▼ 5.3%
Quick ratio	1.44×	1.10×	1.20×	1.02×	0.96×	▼ 5.4%
Debt to equity	0.62×	0.68×	0.75×	0.92×	0.79×	▼ 14%
Interest coverage	15.66×	9.65×	7.74×	5.96×	5.62×	▼ 5.7%

DGX price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.59 vs a peer median of 2.59) and more debt relative to equity (0.75× vs a peer median of 0.22×)higher risk: less liquidity (current ratio 1.59 vs peers 2.59) and more debt vs equity (0.75× vs peers 0.22×)

About average: growth

Ranks #499 of 1,157 healthcare companies (top 44%)

See how it ranks against its peers

Questions investors ask about Quest Diagnostics

Is Quest Diagnostics getting weaker?

Its latest SEC filing (Jul 23, 2026) showed no major changes. Its overall score is 55/100, up 1 since Oct 28, 2026.

How is Quest Diagnostics valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 66/100 against 1,393 healthcare peers. Earnings yield 3.9% vs a peer median of 1.5% (stronger than 70% of peers).Earnings yield 3.9% vs peers 1.5% (stronger than 70% of peers).

Is Quest Diagnostics growing?

At about the same pace as its peers. Growth scores 52/100 against 1,393 healthcare peers. Revenue growth 9.9% vs a peer median of 6.1% (stronger than 61% of peers).Revenue growth 9.9% vs peers 6.1% (stronger than 61% of peers).

How profitable is Quest Diagnostics?

More profitable than most of its peers. Profitability scores 72/100 against 1,393 healthcare peers. Return on assets 6.3% vs a peer median of 1.7% (stronger than 78% of peers).Return on assets 6.3% vs peers 1.7% (stronger than 78% of peers).

How risky is Quest Diagnostics?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.75× vs a peer median of 0.22× (weaker than 76% of peers).Debt / equity 0.75× vs peers 0.22× (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

11.3B USD

11.6B USD

+2.5%

Net income (12 months)

1.0B USD

1.1B USD

+3.7%

Operating margin

14.3%

14.1%

−0.2 pts

Free cash flow (12 months)

1.3B USD

1.3B USD

+1.7%

Debt

5.7B USD

5.6B USD

−0.3%

Cash

393.0M USD

626.0M USD

+59.3%

Shares outstanding

110.7M

110.4M

−0.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

—

Operating margin

22.1%

14.4%

13.6%

14.1%

▲ 0.5 pts

Net margin

18.5%

9.6%

9.2%

8.8%

9.0%

▲ 0.2 pts

Return on assets (ROA)

14.7%

7.4%

6.1%

5.4%

6.1%

▲ 0.7 pts

Return on equity (ROE)

31.0%

16.1%

13.5%

12.9%

13.8%

▲ 1.0 pts

Free cash flow margin

17.0%

13.3%

9.3%

9.2%

12.3%

▲ 3.1 pts

Current ratio

1.56×

1.22×

1.31×

1.10×

1.04×

▼ 5.3%

Quick ratio

1.44×

1.10×

1.20×

1.02×

0.96×

▼ 5.4%

Debt to equity

0.62×

0.68×

0.75×

0.92×

0.79×

▼ 14%

Interest coverage

15.66×

9.65×

7.74×

5.96×

5.62×

▼ 5.7%