LH · NYSE · Healthcare
Labcorp Holdings Inc. (LH) — Rank #314 by gross profitability (GP/assets 0.22) · ROE 10.2% · Piotroski F-Score 8 / 9.
As-of 2026-10-30 · 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 collaboration with the Children's Hospital of Philadelphia to accelerate the discovery, development, and availability of pediatric diagnostics.
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
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
71,000
Industry
Diagnostics & Research
Exchange
NYSE
12/12
Flags passed
LH passes 12/12 quality flags
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 0.22
Gross profitability (GP / assets)
0.22
Primary signal (Novy-Marx).
7th of 7 SIC 80 peers
Return on equity
10.2%
Gross margin
28.8%
5th of 7 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%
Cash Flow Health
Is the cash real?
No warning flags · FCF 38% above net income
Free cash flow
$1.21B
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
37.6%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.9%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net debt $5.72B, F-Score 8/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.15
5th of 6 SIC 80 peers (best = lowest)
Current ratio
1.80×
5th of 7 SIC 80 peers
Quick ratio
1.17×
Net cash
-$5.72B
Cash & equivalents minus total debt.
Piotroski F-Score
8 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
3.2 / 5
Capital allocation quality
Composite score
1.7 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports