Labcorp Holdings Inc.
Rank #329Capital ReturnLH · NYSE · Healthcare
Labcorp Holdings Inc. (LH) — Rank #329 by gross profitability (GP/assets 0.22) · ROE 10.2% · Piotroski F-Score 8 / 9.
As-of 2026-09-15 · CIK 0000920148 · all metrics point-in-time as of the filing date.
About
Labcorp Holdings Inc. provides laboratory services.
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It operates in Diagnostics Laboratories and Biopharma Laboratory Services segments. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, PAP tests, hemoglobin A1C, PSA, tests for sexually transmitted diseases, vitamin D testing, microbiology cultures and procedures, and alcohol and other substance abuse tests. It also provides specialty testing services comprising gene-based and esoteric testing; advanced tests target specific diseases; services related to anatomic pathology/oncology, cardiovascular disease, coagulation, diagnostic genetics, endocrinology, infectious disease, women's health, pharmacogenetics, parentage and donor testing, occupational testing service, medical drug monitoring services, chronic disease programs, and kidney stone prevention tests; and health and wellness services to employers and managed care organizations. In addition, it offers digital pathology solutions, a pathology platforms that support the digitization, centralized review, and sharing of pathology slides; provider and payer digital platforms, an online applications for providers, MCOs, and ACOs; online and mobile applications that enable patients to check offerings, schedule PSC visits, check-in upon PSC arrival, complete documentation, access tests and test results, and manage their accounts; and Generative AI enabled Test Selection, a generative AI enabled tool. It serves clients, third party, medicare/medicaid, patients, pharmaceutical, biotechnology, medical device, diagnostic companies, and CROs. It has a strategic collaboration with the Children's Hospital of Philadelphia to accelerate the discovery, development, and availability of pediatric diagnostics; a strategic alliance with the National Association of Community Health Centers to support current and emerging clinical leaders through the NACHC Leadership Exchange for Chief Medical Officers; and Alliance for Clinical Trials in Oncology to advance national clinical trial for patients diagnosed with colorectal cancer.
The company was founded in 1995 and is headquartered in Burlington, North Carolina.
- Industry
- Diagnostics & Research
- Sector
- Healthcare
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- labcorp.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$25.91B
P/E (annual)
30.5
P/S (annual)
1.9
P/B
3.0
P/OCF (annual)
15.8
Shareholder Yield
1.6%
Employees
71,000
Industry
Diagnostics & Research
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholdsWhat Growth Is Priced In
Implied revenue growth (10Y)
9.1%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -0.7% — per-share value needs a total required return of 8.4% once share-count change is priced in.
vs. own 6-year median revenue growth: 7.1%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
4.7%
r = 10% (base)
9.1%
r = 12%
12.9%
Net debt / market cap: 21.4%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.22
Primary signal (Novy-Marx).
8th of 8 SIC 80 peers
Return on equity
10.2%
Gross margin
28.8%
6th of 8 SIC 80 peers
Revenue growth (YoY)
7.2%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
5.6%
Revenue CAGR (5Y)
-0.0%
Earnings CAGR (3Y)
-11.8%
FCF CAGR (3Y)
-6.5%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.15
6th of 7 SIC 80 peers (best = lowest)
Current ratio
1.80×
6th of 8 SIC 80 peers
Quick ratio
1.17×
Net cash
-$5.72B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$1.21B
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.38
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.9%
Stock-based comp intensity.
Dividend safety
Composite score
3.2 / 5
Piotroski F-Score
F-Score
8 / 9
Fundamental-strength score (0-9).