Quest Diagnostics (DGX) Financials

$164.22 -0.26 (-0.16%)

As of 02:01 PM Eastern

Annual Income Statements for Quest Diagnostics

This table shows Quest Diagnostics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	709	645	772	736	858	1,431	1,995	946	854	871
Consolidated Net Income / (Loss)	753	696	824	788	906	1,499	2,080	1,015	908	921
Net Income / (Loss) Continuing Operations	753	696	824	788	886	1,499	2,080	1,015	908	921
Total Pre-Tax Income	1,103	1,086	1,030	926	1,076	1,884	2,599	1,235	1,130	1,175
Total Operating Income	1,399	1,277	1,165	1,101	1,231	1,971	2,381	1,428	1,262	1,346
Total Gross Profit	2,836	2,598	2,683	2,605	2,689	3,633	4,209	3,433	3,053	3,244
Total Revenue	7,493	7,214	7,402	7,531	7,726	9,437	10,788	9,883	9,252	9,872
Operating Revenue	7,493	7,214	7,402	7,531	7,726	9,437	10,788	9,883	9,252	9,872
Total Cost of Revenue	4,657	4,616	4,719	4,926	5,037	5,804	6,579	6,450	6,199	6,628
Operating Cost of Revenue	4,657	4,616	4,719	4,926	5,037	5,804	6,579	6,450	6,199	6,628
Total Operating Expenses	1,437	1,321	1,518	1,504	1,458	1,662	1,828	2,005	1,791	1,898
Selling, General & Admin Expense	1,679	1,380	1,443	1,424	1,457	1,550	1,727	1,874	1,642	1,770
Amortization Expense	81	72	74	90	96	103	103	120	108	127
Other Operating Expenses / (Income)	-323	-131	1.00	-10	-95	9.00	-2.00	11	41	1.00
Total Other Income / (Expense), net	-296	-191	-135	-175	-155	-87	218	-193	-132	-171
Interest & Investment Income	-	-	-	-	-	-	-	-138	-152	-201
Other Income / (Expense), net	-143	-48	16	-8.00	20	76	369	-55	20	30
Income Tax Expense	373	429	241	182	247	460	597	264	248	273
Other Gains / (Losses), net	23	39	35	44	57	75	78	44	26	19
Net Income / (Loss) Attributable to Noncontrolling Interest	44	51	52	52	48	68	85	69	54	50
Basic Earnings per Share	$4.92	$4.58	$5.63	$5.39	$6.36	$10.62	$15.85	$8.10	$7.59	$7.78
Weighted Average Basic Shares Outstanding	144M	4.03B	137M	136M	133.46M	133.45M	119.45M	111.32M	110.71M	110.98M
Diluted Earnings per Share	$4.87	$4.51	$5.50	$5.29	$6.28	$10.47	$15.55	$7.97	$7.49	$7.69
Weighted Average Diluted Shares Outstanding	144M	4.03B	137M	136M	133.46M	133.45M	119.45M	111.32M	110.71M	110.98M
Weighted Average Basic & Diluted Shares Outstanding	144M	4.03B	137M	136M	133.46M	133.45M	119.45M	111.32M	110.71M	110.98M
Cash Dividends to Common per Share	$1.52	$1.65	$1.80	$2.03	$2.12	$2.24	$2.48	$2.64	$2.84	$3.00

This table shows Quest Diagnostics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	256	101	202	235	225	192	194	229	226	222
Consolidated Net Income / (Loss)	276	116	217	249	237	205	208	240	237	236
Net Income / (Loss) Continuing Operations	276	116	217	249	237	205	208	240	237	236
Total Pre-Tax Income	351	109	277	317	299	237	266	314	296	299
Total Operating Income	392	135	305	348	342	267	300	355	330	361
Total Gross Profit	868	758	771	792	754	736	771	804	811	858
Total Revenue	2,486	2,333	2,331	2,338	2,295	2,288	2,366	2,397	2,488	2,621
Operating Revenue	2,486	2,333	2,331	2,338	2,295	2,288	2,366	2,397	2,488	2,621
Total Cost of Revenue	1,618	1,575	1,560	1,546	1,541	1,552	1,595	1,593	1,677	1,763
Operating Cost of Revenue	1,618	1,575	1,560	1,546	1,541	1,552	1,595	1,593	1,677	1,763
Total Operating Expenses	476	623	466	444	412	469	471	449	481	497
Selling, General & Admin Expense	464	563	439	416	380	407	440	416	448	466
Amortization Expense	27	39	26	28	27	27	29	29	32	37
Other Operating Expenses / (Income)	-15	21	1.00	0.00	5.00	35	2.00	4.00	1.00	-6.00
Total Other Income / (Expense), net	-41	-26	-28	-31	-43	-30	-34	-41	-34	-62
Other Income / (Expense), net	-8.00	6.00	7.00	6.00	-3.00	10	9.00	3.00	15	3.00
Income Tax Expense	81	-4.00	65	75	68	40	66	74	65	68
Other Gains / (Losses), net	6.00	3.00	5.00	7.00	6.00	8.00	8.00	0.00	6.00	5.00
Net Income / (Loss) Attributable to Noncontrolling Interest	20	15	15	14	12	13	14	11	11	14
Basic Earnings per Share	$2.20	$0.93	$1.80	$2.08	$1.99	$1.72	$1.74	$2.05	$2.01	$1.98
Weighted Average Basic Shares Outstanding	116M	111.32M	112M	112M	112M	110.71M	111M	111M	112M	110.98M
Diluted Earnings per Share	$2.17	$0.92	$1.78	$2.05	$1.96	$1.70	$1.72	$2.03	$1.99	$1.95
Weighted Average Diluted Shares Outstanding	118M	111.32M	113M	114M	114M	110.71M	112M	112M	113M	110.98M
Weighted Average Basic & Diluted Shares Outstanding	113.89M	111.32M	112.01M	112.23M	112.43M	110.71M	111.09M	111.32M	111.62M	110.98M

This table details how cash moves in and out of Quest Diagnostics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-59	251	-247	-2.00	1,057	-34	-286	-557	371	-137
Net Cash From Operating Activities	821	1,116	1,175	1,200	1,243	2,005	2,233	1,718	1,272	1,334
Net Cash From Continuing Operating Activities	821	1,116	1,175	1,200	1,243	2,005	2,233	1,718	1,272	1,334
Net Income / (Loss) Continuing Operations	753	696	824	788	906	1,499	2,080	1,015	908	921
Consolidated Net Income / (Loss)	753	696	824	788	906	1,499	2,080	1,015	908	921
Depreciation Expense	304	249	270	309	329	361	408	437	439	493
Non-Cash Adjustments To Reconcile Net Income	21	53	81	79	-42	78	-285	146	119	108
Changes in Operating Assets and Liabilities, net	-257	118	0.00	24	50	67	30	120	-194	-188
Net Cash From Investing Activities	-362	-127	-830	-801	-411	-772	21	-543	-1,061	-2,548
Net Cash From Continuing Investing Activities	-362	-127	-830	-801	-411	-772	21	-543	-1,061	-2,548
Purchase of Property, Plant & Equipment	-263	-293	-252	-383	-400	-418	-403	-404	-408	-425
Acquisitions	-100	-139	-581	-421	-58	-330	-331	-144	-611	-2,164
Other Investing Activities, net	1.00	10	1.00	1.00	-44	-24	0.00	5.00	-42	41
Net Cash From Financing Activities	-518	-738	-592	-401	225	-1,267	-2,540	-1,732	160	1,084
Net Cash From Continuing Financing Activities	-518	-738	-592	-401	225	-1,267	-2,540	-1,732	160	1,084
Repayment of Debt	-2,558	-1,816	-182	-1,966	-1,466	-1,510	-40	-41	-1,830	-282
Repurchase of Common Equity	-224	-590	-465	-322	-353	-325	-2,199	-1,408	-275	-151
Payment of Dividends	-254	-264	-298	-320	-340	-355	-408	-378	-371	-378
Issuance of Debt	2,453	1,869	242	2,113	2,281	749	0.00	0.00	2,592	1,846
Other Financing Activities, net	2.00	63	107	78	103	174	107	95	44	49
Effect of Exchange Rate Changes	-	-	-	-	-	-	-	0.00	0.00	-7.00

This table details how cash moves in and out of Quest Diagnostics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-90	-385	-140	-49	17	543	-212	-203	493	-215
Net Cash From Operating Activities	502	334	94	444	207	527	154	360	356	464
Net Cash From Continuing Operating Activities	502	334	94	444	207	527	154	360	356	464
Net Income / (Loss) Continuing Operations	276	116	217	249	237	205	208	240	237	236
Consolidated Net Income / (Loss)	276	116	217	249	237	205	208	240	237	236
Depreciation Expense	108	116	107	112	111	109	116	117	125	135
Non-Cash Adjustments To Reconcile Net Income	22	53	26	14	30	49	34	27	21	26
Changes in Operating Assets and Liabilities, net	96	49	-256	69	-171	164	-204	-24	-27	67
Net Cash From Investing Activities	-118	-174	-158	-682	-107	-114	-213	-200	-1,633	-502
Net Cash From Continuing Investing Activities	-118	-174	-158	-682	-107	-114	-213	-200	-1,633	-502
Purchase of Property, Plant & Equipment	-118	-147	-127	-104	-105	-72	-104	-92	-106	-123
Acquisitions	-	-38	-31	-578	-2.00	-	-142	-106	-1,533	-383
Other Investing Activities, net	-	11	0.00	-	-	-42	33	-2.00	6.00	4.00
Net Cash From Financing Activities	-474	-545	-76	189	-83	130	-153	-363	1,770	-170
Net Cash From Continuing Financing Activities	-474	-545	-76	189	-83	130	-153	-363	1,770	-170
Repayment of Debt	-19	-21	-125	-746	-559	-400	-52	-288	2.00	56
Payment of Dividends	-100	-90	-88	-94	-93	-96	-90	-91	-101	-96
Other Financing Activities, net	27	27	-3.00	22	13	12	-11	16	23	21

This table presents Quest Diagnostics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	9,962	10,100	10,503	11,003	12,843	14,026	13,611	12,837	14,022	16,153
Total Current Assets	1,501	1,531	1,306	1,390	2,490	3,058	2,741	1,898	2,372	2,392
Cash & Equivalents	133	359	137	135	1,192	1,158	872	315	686	549
Accounts Receivable	901	926	924	1,012	1,063	1,520	1,438	1,195	1,210	1,304
Inventories, net	84	82	95	99	123	223	208	192	190	188
Prepaid Expenses	207	155	150	144	112	157	223	196	286	351
Plant, Property, & Equipment, net	925	1,029	1,145	1,288	1,453	1,627	1,707	1,766	1,816	2,113
Total Noncurrent Assets	7,536	7,540	8,052	8,325	8,900	9,341	9,163	9,173	9,834	11,648
Long-Term Investments	473	443	462	436	482	521	141	132	135	123
Goodwill	5,905	6,000	6,335	6,563	6,619	6,873	7,095	7,220	7,733	8,856
Intangible Assets	984	949	1,119	1,207	1,121	1,167	1,167	1,092	1,166	1,763
Other Noncurrent Operating Assets	174	148	136	119	678	780	760	729	800	906
Total Liabilities & Shareholders' Equity	9,962	10,100	10,503	11,003	12,843	14,026	13,611	12,837	14,022	16,153
Total Liabilities	5,179	5,363	5,468	5,659	7,080	7,135	7,049	6,830	7,604	9,257
Total Current Liabilities	1,173	981	1,057	1,485	1,990	1,776	1,753	1,551	1,815	2,169
Short-Term Debt	159	6.00	36	464	804	2.00	2.00	2.00	303	602
Accounts Payable	1,014	975	1,021	1,021	1,041	1,633	1,600	1,396	1,359	1,394
Other Current Liabilities	-	-	-	0.00	145	141	151	153	153	173
Total Noncurrent Liabilities	4,006	4,382	4,411	4,174	5,090	5,359	5,296	5,279	5,789	7,088
Long-Term Debt	3,492	3,728	3,748	3,429	3,966	4,013	4,010	3,978	4,410	5,615
Other Noncurrent Operating Liabilities	514	654	663	745	1,124	1,346	1,286	1,301	1,379	1,473
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	77	80	77	76	82	79	77	76	83
Total Equity & Noncontrolling Interests	4,713	4,660	4,955	5,267	5,687	6,809	6,483	5,930	6,342	6,813
Total Preferred & Common Equity	4,684	4,628	4,921	5,216	5,641	6,759	6,444	5,893	6,307	6,778
Total Common Equity	4,684	4,628	4,921	5,216	5,641	6,759	6,444	5,893	6,307	6,778
Common Stock	2,483	2,547	2,614	2,669	2,724	2,843	2,262	2,297	2,322	2,363
Retained Earnings	6,199	6,613	7,138	7,602	8,174	9,303	7,649	8,290	8,825	9,360
Treasury Stock	-3,960	-4,460	-4,783	-4,996	-5,218	-5,366	-3,453	-4,673	-4,826	-4,857
Accumulated Other Comprehensive Income / (Loss)	-38	-72	-48	-59	-39	-21	-14	-21	-14	-88
Noncontrolling Interest	29	32	34	51	46	50	39	37	35	35

This table presents Quest Diagnostics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	13,223	12,837	12,794	13,425	13,482	14,022	13,954	13,881	16,095	16,153
Total Current Assets	2,334	1,898	1,814	1,733	1,815	2,372	2,228	2,017	2,623	2,392
Cash & Equivalents	700	315	175	126	143	686	474	271	764	549
Accounts Receivable	1,280	1,195	1,254	1,235	1,281	1,210	1,322	1,319	1,376	1,304
Inventories, net	183	192	190	184	184	190	181	182	184	188
Prepaid Expenses	171	196	195	188	207	286	251	245	299	351
Plant, Property, & Equipment, net	1,707	1,766	1,795	1,814	1,830	1,816	1,810	1,832	2,093	2,113
Total Noncurrent Assets	9,182	9,173	9,185	9,878	9,837	9,834	9,916	10,032	11,379	11,648
Long-Term Investments	138	132	128	135	130	135	133	126	125	123
Goodwill	7,190	7,220	7,241	7,733	7,732	7,733	7,830	7,885	8,605	8,856
Intangible Assets	1,115	1,092	1,077	1,247	1,219	1,166	1,192	1,202	1,716	1,763
Other Noncurrent Operating Assets	739	729	739	763	756	800	761	819	933	906
Total Liabilities & Shareholders' Equity	13,223	12,837	12,794	13,425	13,482	14,022	13,954	13,881	16,095	16,153
Total Liabilities	6,874	6,830	6,629	7,061	6,943	7,604	7,408	7,146	9,174	9,257
Total Current Liabilities	1,602	1,551	1,355	1,875	1,618	1,815	2,298	2,012	2,092	2,169
Short-Term Debt	2.00	2.00	2.00	518	304	303	906	606	603	602
Accounts Payable	1,447	1,396	1,198	1,201	1,157	1,359	1,239	1,247	1,313	1,394
Other Current Liabilities	153	153	155	156	157	153	153	159	176	173
Total Noncurrent Liabilities	5,272	5,279	5,274	5,186	5,325	5,789	5,110	5,134	7,082	7,088
Long-Term Debt	3,980	3,978	3,975	3,777	3,946	4,410	3,804	3,816	5,648	5,615
Other Noncurrent Operating Liabilities	1,292	1,301	1,299	1,409	1,379	1,379	1,306	1,318	1,434	1,473
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	77	77	77	77	76	76	77	79	80	83
Total Equity & Noncontrolling Interests	6,272	5,930	6,088	6,287	6,463	6,342	6,469	6,656	6,841	6,813
Total Preferred & Common Equity	6,235	5,893	6,050	6,249	6,425	6,307	6,432	6,617	6,809	6,778
Total Common Equity	6,235	5,893	6,050	6,249	6,425	6,307	6,432	6,617	6,809	6,778
Common Stock	2,274	2,297	2,268	2,286	2,304	2,322	2,294	2,316	2,334	2,363
Retained Earnings	8,263	8,290	8,412	8,566	8,711	8,825	8,935	9,080	9,222	9,360
Treasury Stock	-4,271	-4,673	-4,612	-4,587	-4,570	-4,826	-4,781	-4,760	-4,732	-4,857
Accumulated Other Comprehensive Income / (Loss)	-31	-21	-18	-16	-20	-14	-16	-19	-15	-88
Noncontrolling Interest	37	37	38	38	38	35	37	39	32	35

This table displays calculated financial ratios and metrics derived from Quest Diagnostics' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.78%	-3.72%	2.61%	1.74%	2.59%	22.15%	14.32%	-8.39%	-6.38%	6.70%
EBITDA Growth	19.91%	-5.26%	-1.83%	-3.38%	12.70%	52.41%	31.15%	-42.69%	-4.92%	8.60%
EBIT Growth	27.25%	-2.15%	-3.91%	-7.45%	14.46%	63.63%	34.34%	-50.07%	-6.63%	7.33%
NOPAT Growth	38.18%	-16.56%	15.52%	-0.87%	7.21%	57.08%	23.11%	-38.78%	-12.27%	4.90%
Net Income Growth	27.20%	-7.57%	18.39%	-4.37%	14.97%	65.45%	38.76%	-51.20%	-10.54%	1.43%
EPS Growth	27.82%	-7.39%	21.95%	-3.82%	18.71%	66.72%	48.52%	-48.75%	-6.02%	2.67%
Operating Cash Flow Growth	-13.03%	35.93%	5.29%	2.13%	3.58%	61.30%	11.37%	-23.06%	-25.96%	4.87%
Free Cash Flow Firm Growth	3,525.34%	-30.11%	-56.52%	31.95%	72.23%	48.49%	33.73%	-23.75%	-81.20%	-610.50%
Invested Capital Growth	-2.15%	0.10%	7.31%	5.43%	2.23%	4.15%	3.62%	-0.22%	8.07%	20.67%
Revenue Q/Q Growth	-0.45%	-3.85%	4.30%	-0.34%	1.14%	12.87%	-2.34%	-3.99%	-0.48%	3.49%
EBITDA Q/Q Growth	-1.33%	1.72%	0.35%	-3.77%	11.35%	22.54%	-7.34%	-17.65%	8.10%	6.44%
EBIT Q/Q Growth	-1.26%	3.02%	-0.42%	-5.45%	14.67%	26.36%	-8.58%	-22.47%	11.87%	6.75%
NOPAT Q/Q Growth	0.76%	-5.33%	14.55%	-12.60%	13.94%	26.46%	-9.06%	-19.79%	9.46%	5.82%
Net Income Q/Q Growth	0.00%	-4.53%	13.81%	-13.97%	16.15%	29.78%	-8.61%	-22.64%	10.87%	3.48%
EPS Q/Q Growth	-0.20%	-4.25%	15.30%	-14.54%	17.60%	29.42%	-6.77%	-21.56%	11.62%	3.36%
Operating Cash Flow Q/Q Growth	-4.31%	7.62%	-2.33%	-2.28%	4.45%	10.65%	-2.62%	-7.88%	17.89%	-4.51%
Free Cash Flow Firm Q/Q Growth	-6.42%	2.62%	-48.31%	-3.00%	72.33%	14.57%	-7.62%	-12.95%	274.74%	-38.85%
Invested Capital Q/Q Growth	-0.03%	-0.84%	4.57%	2.91%	0.50%	2.36%	1.64%	0.50%	-1.96%	1.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.85%	36.01%	36.25%	34.59%	34.80%	38.50%	39.02%	34.74%	33.00%	32.86%
EBITDA Margin	20.82%	20.49%	19.60%	18.62%	20.45%	25.52%	29.27%	18.31%	18.60%	18.93%
Operating Margin	18.67%	17.70%	15.74%	14.62%	15.93%	20.89%	22.07%	14.45%	13.64%	13.63%
EBIT Margin	16.76%	17.04%	15.96%	14.51%	16.19%	21.69%	25.49%	13.89%	13.86%	13.94%
Profit (Net Income) Margin	10.05%	9.65%	11.13%	10.46%	11.73%	15.88%	19.28%	10.27%	9.81%	9.33%
Tax Burden Percent	68.27%	64.09%	80.00%	85.10%	84.20%	79.56%	80.03%	82.19%	80.35%	78.38%
Interest Burden Percent	87.82%	88.36%	87.21%	84.72%	86.01%	92.04%	94.51%	89.95%	88.14%	85.39%
Effective Tax Rate	33.82%	39.50%	23.40%	19.65%	22.96%	24.42%	22.97%	21.38%	21.95%	23.23%
Return on Invested Capital (ROIC)	11.97%	10.09%	11.24%	10.48%	10.82%	16.47%	19.52%	11.76%	9.92%	9.08%
ROIC Less NNEP Spread (ROIC-NNEP)	6.59%	7.48%	9.00%	7.51%	9.50%	16.81%	28.74%	8.46%	7.85%	6.70%
Return on Net Nonoperating Assets (RNNOA)	4.69%	4.64%	5.63%	4.71%	5.49%	7.22%	11.40%	4.40%	4.69%	4.75%
Return on Equity (ROE)	16.65%	14.73%	16.86%	15.18%	16.31%	23.69%	30.92%	16.15%	14.62%	13.84%
Cash Return on Invested Capital (CROIC)	14.14%	9.99%	4.19%	5.19%	8.62%	12.40%	15.97%	11.98%	2.17%	-9.65%
Operating Return on Assets (OROA)	12.67%	12.25%	11.46%	10.16%	10.49%	15.24%	19.90%	10.38%	9.55%	9.12%
Return on Assets (ROA)	7.60%	6.94%	8.00%	7.33%	7.60%	11.16%	15.05%	7.68%	6.76%	6.10%
Return on Common Equity (ROCE)	16.55%	14.52%	16.48%	14.83%	15.95%	23.22%	30.35%	15.85%	14.35%	13.60%
Return on Equity Simple (ROE_SIMPLE)	16.08%	15.04%	16.74%	15.11%	16.06%	22.18%	32.28%	17.22%	14.40%	13.59%
Net Operating Profit after Tax (NOPAT)	926	773	892	885	948	1,490	1,834	1,123	985	1,033
NOPAT Margin	12.36%	10.71%	12.06%	11.75%	12.28%	15.79%	17.00%	11.36%	10.65%	10.47%
Net Nonoperating Expense Percent (NNEP)	5.38%	2.61%	2.24%	2.97%	1.32%	-0.34%	-9.22%	3.30%	2.07%	2.38%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	11.33%	8.91%	7.93%
Cost of Revenue to Revenue	62.15%	63.99%	63.75%	65.41%	65.20%	61.50%	60.98%	65.26%	67.00%	67.14%
SG&A Expenses to Revenue	22.41%	19.13%	19.49%	18.91%	18.86%	16.42%	16.01%	18.96%	17.75%	17.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.18%	18.31%	20.51%	19.97%	18.87%	17.61%	16.94%	20.29%	19.36%	19.23%
Earnings before Interest and Taxes (EBIT)	1,256	1,229	1,181	1,093	1,251	2,047	2,750	1,373	1,282	1,376
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,560	1,478	1,451	1,402	1,580	2,408	3,158	1,810	1,721	1,869
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.84	2.38	2.40	1.95	2.34	2.23	3.15	2.89	2.39	2.47
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.15	1.53	1.60	1.35	1.71	1.60	1.88	1.72	1.63	1.70
Price to Earnings (P/E)	12.18	17.08	15.32	13.82	15.39	10.53	10.17	17.98	17.68	19.24
Dividend Yield	2.44%	1.99%	2.07%	2.61%	2.16%	1.98%	1.46%	1.74%	2.08%	1.97%
Earnings Yield	8.21%	5.85%	6.53%	7.24%	6.50%	9.49%	9.83%	5.56%	5.65%	5.20%
Enterprise Value to Invested Capital (EV/IC)	1.53	1.84	1.84	1.57	1.85	1.90	2.45	2.16	1.85	1.80
Enterprise Value to Revenue (EV/Rev)	1.56	1.95	2.04	1.81	2.13	1.86	2.17	2.09	2.07	2.27
Enterprise Value to EBITDA (EV/EBITDA)	7.51	9.51	10.42	9.72	10.39	7.28	7.41	11.41	11.10	12.00
Enterprise Value to EBIT (EV/EBIT)	9.32	11.44	12.81	12.46	13.13	8.57	8.51	15.04	14.90	16.29
Enterprise Value to NOPAT (EV/NOPAT)	12.65	18.20	16.95	15.40	17.31	11.77	12.76	18.40	19.40	21.70
Enterprise Value to Operating Cash Flow (EV/OCF)	14.27	12.60	12.87	11.35	13.21	8.75	10.48	12.02	15.02	16.81
Enterprise Value to Free Cash Flow (EV/FCFF)	10.71	18.39	45.50	31.06	21.74	15.64	15.60	18.06	88.85	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.77	0.79	0.75	0.73	0.83	0.58	0.61	0.66	0.73	0.90
Long-Term Debt to Equity	0.74	0.79	0.74	0.64	0.69	0.58	0.61	0.66	0.69	0.81
Financial Leverage	0.71	0.62	0.63	0.63	0.58	0.43	0.40	0.52	0.60	0.71
Leverage Ratio	2.19	2.12	2.11	2.07	2.15	2.12	2.05	2.10	2.16	2.27
Compound Leverage Factor	1.92	1.88	1.84	1.76	1.85	1.95	1.94	1.89	1.91	1.94
Debt to Total Capital	43.65%	44.08%	42.91%	42.15%	45.29%	36.81%	37.94%	39.85%	42.34%	47.41%
Short-Term Debt to Total Capital	1.90%	0.07%	0.41%	5.02%	7.63%	0.02%	0.02%	0.02%	2.72%	4.59%
Long-Term Debt to Total Capital	41.75%	44.01%	42.50%	37.12%	37.65%	36.80%	37.92%	39.83%	39.62%	42.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.35%	1.29%	1.29%	1.39%	1.16%	1.21%	1.12%	1.14%	1.00%	0.90%
Common Equity to Total Capital	56.00%	54.63%	55.80%	56.47%	53.56%	61.98%	60.94%	59.01%	56.66%	51.69%
Debt to EBITDA	2.34	2.53	2.61	2.78	3.02	1.67	1.27	2.20	2.74	3.33
Net Debt to EBITDA	1.95	1.98	2.20	2.37	1.96	0.97	0.95	1.95	2.26	2.97
Long-Term Debt to EBITDA	2.24	2.52	2.58	2.45	2.51	1.67	1.27	2.20	2.56	3.00
Debt to NOPAT	3.94	4.83	4.24	4.40	5.03	2.70	2.19	3.54	4.78	6.02
Net Debt to NOPAT	3.29	3.80	3.57	3.76	3.26	1.57	1.64	3.15	3.95	5.37
Long-Term Debt to NOPAT	3.77	4.83	4.20	3.88	4.18	2.69	2.19	3.54	4.48	5.43
Altman Z-Score	3.08	3.33	3.35	3.05	2.98	3.46	4.06	3.55	3.08	2.81
Noncontrolling Interest Sharing Ratio	0.64%	1.46%	2.28%	2.33%	2.25%	2.01%	1.86%	1.85%	1.81%	1.72%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	1.56	1.24	0.94	1.25	1.72	1.56	1.22	1.31	1.10
Quick Ratio	0.88	1.31	1.00	0.77	1.13	1.51	1.32	0.97	1.04	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,094	765	332	439	755	1,122	1,500	1,144	215	-1,098
Operating Cash Flow to CapEx	312.17%	380.89%	468.13%	314.96%	402.27%	479.67%	554.09%	425.25%	311.76%	313.88%
Free Cash Flow to Firm to Interest Expense	7.15	5.35	2.20	2.63	4.32	6.88	9.93	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	5.37	7.80	7.78	7.19	7.10	12.30	14.79	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	3.65	5.76	6.12	4.90	5.34	9.74	12.12	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.76	0.72	0.72	0.70	0.65	0.70	0.78	0.75	0.69	0.65
Accounts Receivable Turnover	8.18	7.90	8.00	7.78	7.45	7.31	7.29	7.51	7.69	7.85
Inventory Turnover	48.01	55.61	53.32	50.78	45.38	33.55	30.53	32.25	32.46	35.07
Fixed Asset Turnover	8.07	7.38	6.81	6.19	5.64	6.13	6.47	5.69	5.17	5.03
Accounts Payable Turnover	4.22	4.64	4.73	4.82	4.89	4.34	4.07	4.31	4.50	4.82
Days Sales Outstanding (DSO)	44.64	46.22	45.61	46.92	49.01	49.95	50.04	48.62	47.44	46.48
Days Inventory Outstanding (DIO)	7.60	6.56	6.85	7.19	8.04	10.88	11.96	11.32	11.25	10.41
Days Payable Outstanding (DPO)	86.41	78.64	77.19	75.65	74.71	84.08	89.68	84.77	81.11	75.80
Cash Conversion Cycle (CCC)	-34.16	-25.86	-24.73	-21.55	-17.65	-23.25	-27.69	-24.83	-22.42	-18.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,652	7,660	8,220	8,666	8,859	9,227	9,561	9,540	10,310	12,441
Invested Capital Turnover	0.97	0.94	0.93	0.89	0.88	1.04	1.15	1.03	0.93	0.87
Increase / (Decrease) in Invested Capital	-168	8.00	560	446	193	368	334	-21	770	2,131
Enterprise Value (EV)	11,712	14,060	15,124	13,621	16,420	17,541	23,404	20,654	19,105	22,419
Market Capitalization	8,638	11,019	11,825	10,171	13,202	15,073	20,287	17,007	15,102	16,756
Book Value per Share	$32.68	$33.38	$36.10	$38.33	$41.88	$50.15	$52.53	$51.74	$56.09	$60.73
Tangible Book Value per Share	($15.38)	($16.74)	($18.58)	($18.77)	($15.58)	($9.51)	($14.82)	($21.24)	($23.05)	($34.41)
Total Capital	8,364	8,471	8,819	9,237	10,533	10,906	10,574	9,987	11,131	13,113
Total Debt	3,651	3,734	3,784	3,893	4,770	4,015	4,012	3,980	4,713	6,217
Total Long-Term Debt	3,492	3,728	3,748	3,429	3,966	4,013	4,010	3,978	4,410	5,615
Net Debt	3,045	2,932	3,185	3,322	3,096	2,336	2,999	3,533	3,892	5,545
Capital Expenditures (CapEx)	263	293	251	381	309	418	403	404	408	425
Debt-free, Cash-free Net Working Capital (DFCFNWC)	354	197	148	234	112	126	118	34	174	276
Debt-free Net Working Capital (DFNWC)	487	556	285	369	1,304	1,284	990	349	860	825
Net Working Capital (NWC)	328	550	249	-95	500	1,282	988	347	557	223
Net Nonoperating Expense (NNE)	173	77	68	97	42	-9.24	-246	108	77	112
Net Nonoperating Obligations (NNO)	2,939	2,923	3,185	3,322	3,096	2,336	2,999	3,533	3,892	5,545
Total Depreciation and Amortization (D&A)	304	249	270	309	329	361	408	437	439	493
Debt-free, Cash-free Net Working Capital to Revenue	4.72%	2.73%	2.00%	3.11%	1.45%	1.34%	1.09%	0.34%	1.88%	2.80%
Debt-free Net Working Capital to Revenue	6.50%	7.71%	3.85%	4.90%	16.88%	13.61%	9.18%	3.53%	9.30%	8.36%
Net Working Capital to Revenue	4.38%	7.62%	3.36%	-1.26%	6.47%	13.58%	9.16%	3.51%	6.02%	2.26%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.92	$4.58	$5.63	$5.39	$6.36	$10.62	$15.85	$8.10	$7.59	$7.78
Adjusted Weighted Average Basic Shares Outstanding	142.76M	137.50M	135.64M	134.26M	133.46M	133.45M	119.45M	111.32M	110.71M	110.98M
Adjusted Diluted Earnings per Share	$4.87	$4.51	$5.50	$5.29	$6.28	$10.47	$15.55	$7.97	$7.49	$7.69
Adjusted Weighted Average Diluted Shares Outstanding	142.76M	137.50M	135.64M	134.26M	133.46M	133.45M	119.45M	111.32M	110.71M	110.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	142.76M	137.50M	135.64M	134.26M	133.46M	133.45M	119.45M	111.32M	110.71M	110.98M
Normalized Net Operating Profit after Tax (NOPAT)	926	773	892	885	948	1,490	1,834	1,123	985	1,033
Normalized NOPAT Margin	12.36%	10.71%	12.06%	11.75%	12.28%	15.79%	17.00%	11.36%	10.65%	10.47%
Pre Tax Income Margin	14.72%	15.05%	13.92%	12.30%	13.93%	19.96%	24.09%	12.50%	12.21%	11.90%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.21	8.59	7.82	6.54	7.15	12.56	18.21	0.00	0.00	0.00
NOPAT to Interest Expense	6.05	5.40	5.91	5.30	5.42	9.14	12.15	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	6.49	6.55	6.16	4.26	5.38	9.99	15.54	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	4.33	3.35	4.25	3.02	3.65	6.58	9.48	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.73%	37.93%	36.17%	40.61%	37.53%	23.68%	19.62%	37.24%	40.86%	41.04%
Augmented Payout Ratio	63.48%	122.70%	92.60%	81.47%	76.49%	45.36%	125.34%	175.96%	71.15%	57.44%

This table displays calculated financial ratios and metrics derived from Quest Diagnostics' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-10.38%	-14.98%	-10.72%	-4.69%	-7.68%	-1.93%	1.50%	2.52%	8.41%	14.55%
EBITDA Growth	-37.96%	-60.16%	-29.58%	0.00%	-8.54%	50.19%	1.43%	1.93%	4.44%	29.27%
EBIT Growth	-44.51%	-73.84%	-36.20%	-1.39%	-11.72%	96.45%	-0.96%	1.13%	1.77%	31.41%
NOPAT Growth	-39.63%	-66.22%	-39.86%	-10.10%	-12.38%	58.58%	-3.37%	2.14%	-2.53%	25.67%
Net Income Growth	-47.63%	-71.91%	-41.82%	-0.40%	-14.13%	76.72%	-4.15%	-3.61%	0.00%	15.12%
EPS Growth	-46.02%	-70.42%	-39.04%	4.59%	-9.68%	84.78%	-3.37%	-0.98%	1.53%	14.71%
Operating Cash Flow Growth	-10.52%	-30.56%	-80.42%	10.45%	-58.76%	57.78%	63.83%	-18.92%	71.98%	-11.95%
Free Cash Flow Firm Growth	102.44%	100.49%	107.37%	-819.10%	-452.04%	-440.51%	-7,966.32%	83.73%	-98.93%	-237.94%
Invested Capital Growth	0.91%	-0.22%	2.35%	8.60%	10.78%	8.07%	8.23%	3.48%	16.80%	20.67%
Revenue Q/Q Growth	1.35%	-6.15%	-0.09%	0.30%	-1.84%	-0.31%	3.41%	1.31%	3.80%	5.35%
EBITDA Q/Q Growth	5.58%	-47.76%	63.04%	11.22%	-3.43%	-14.22%	10.10%	11.76%	-1.05%	6.17%
EBIT Q/Q Growth	6.96%	-63.28%	121.28%	13.46%	-4.24%	-18.29%	11.55%	15.86%	-3.63%	5.51%
NOPAT Q/Q Growth	2.04%	-53.59%	66.79%	13.81%	-0.54%	-16.00%	1.63%	20.29%	-5.09%	8.30%
Net Income Q/Q Growth	10.40%	-57.97%	87.07%	14.75%	-4.82%	-13.50%	1.46%	15.38%	-1.25%	-0.42%
EPS Q/Q Growth	10.71%	-57.60%	93.48%	15.17%	-4.39%	-13.27%	1.18%	18.02%	-1.97%	-2.01%
Operating Cash Flow Q/Q Growth	24.88%	-33.47%	-71.86%	372.34%	-53.38%	154.59%	-70.78%	133.77%	-1.11%	30.34%
Free Cash Flow Firm Q/Q Growth	178.10%	-25.32%	-95.38%	-7,601.54%	-36.14%	27.77%	-6.64%	84.49%	-1,564.93%	-22.70%
Invested Capital Q/Q Growth	-0.86%	0.50%	3.13%	5.68%	1.13%	-1.96%	3.29%	1.04%	14.15%	1.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.92%	32.49%	33.08%	33.88%	32.85%	32.17%	32.59%	33.54%	32.60%	32.74%
EBITDA Margin	19.79%	11.02%	17.98%	19.93%	19.61%	16.87%	17.96%	19.82%	18.89%	19.04%
Operating Margin	15.77%	5.79%	13.08%	14.88%	14.90%	11.67%	12.68%	14.81%	13.26%	13.77%
EBIT Margin	15.45%	6.04%	13.38%	15.14%	14.77%	12.11%	13.06%	14.94%	13.87%	13.89%
Profit (Net Income) Margin	11.10%	4.97%	9.31%	10.65%	10.33%	8.96%	8.79%	10.01%	9.53%	9.00%
Tax Burden Percent	78.63%	106.42%	78.34%	78.55%	79.26%	86.50%	78.20%	76.43%	80.07%	78.93%
Interest Burden Percent	91.41%	77.31%	88.78%	89.55%	88.20%	85.56%	86.08%	87.71%	85.80%	82.14%
Effective Tax Rate	23.08%	-3.67%	23.47%	23.66%	22.74%	16.88%	24.81%	23.57%	21.96%	22.74%
Return on Invested Capital (ROIC)	13.21%	6.21%	9.89%	10.80%	10.70%	9.04%	8.64%	10.00%	8.66%	9.23%
ROIC Less NNEP Spread (ROIC-NNEP)	12.37%	5.47%	9.40%	10.33%	9.93%	8.59%	8.19%	9.22%	8.22%	8.33%
Return on Net Nonoperating Assets (RNNOA)	5.81%	2.84%	5.05%	5.67%	5.49%	5.13%	5.01%	5.67%	5.70%	5.90%
Return on Equity (ROE)	19.02%	9.05%	14.93%	16.47%	16.19%	14.17%	13.65%	15.67%	14.37%	15.14%
Cash Return on Invested Capital (CROIC)	13.90%	11.98%	7.63%	1.14%	-1.23%	2.17%	1.63%	5.87%	-6.94%	-9.65%
Operating Return on Assets (OROA)	11.87%	4.52%	9.80%	10.75%	10.28%	8.34%	9.07%	10.22%	8.94%	9.09%
Return on Assets (ROA)	8.53%	3.72%	6.81%	7.56%	7.19%	6.17%	6.10%	6.85%	6.14%	5.89%
Return on Common Equity (ROCE)	18.68%	8.89%	14.66%	16.17%	15.90%	13.92%	13.41%	15.40%	14.13%	14.88%
Return on Equity Simple (ROE_SIMPLE)	21.04%	0.00%	14.20%	13.73%	12.75%	0.00%	13.98%	13.45%	13.07%	0.00%
Net Operating Profit after Tax (NOPAT)	302	140	233	266	264	222	226	271	258	279
NOPAT Margin	12.13%	6.00%	10.01%	11.36%	11.51%	9.70%	9.53%	11.32%	10.35%	10.64%
Net Nonoperating Expense Percent (NNEP)	0.85%	0.73%	0.48%	0.47%	0.76%	0.46%	0.45%	0.78%	0.44%	0.91%
Return On Investment Capital (ROIC_SIMPLE)	-	1.41%	-	-	-	2.01%	-	-	-	2.14%
Cost of Revenue to Revenue	65.08%	67.51%	66.92%	66.12%	67.15%	67.83%	67.41%	66.46%	67.40%	67.26%
SG&A Expenses to Revenue	18.66%	24.13%	18.83%	17.79%	16.56%	17.79%	18.60%	17.36%	18.01%	17.78%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.15%	26.70%	19.99%	18.99%	17.95%	20.50%	19.91%	18.73%	19.33%	18.96%
Earnings before Interest and Taxes (EBIT)	384	141	312	354	339	277	309	358	345	364
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	492	257	419	466	450	386	425	475	470	499
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.22	2.89	2.53	2.45	2.07	2.39	2.31	2.29	2.53	2.47
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.35	1.72	1.60	1.61	1.43	1.63	1.60	1.62	1.80	1.70
Price to Earnings (P/E)	11.23	17.98	19.33	19.30	17.45	17.68	17.59	18.01	20.45	19.24
Dividend Yield	2.15%	1.74%	1.92%	1.97%	2.31%	2.08%	2.15%	2.12%	1.89%	1.97%
Earnings Yield	8.90%	5.56%	5.17%	5.18%	5.73%	5.65%	5.69%	5.55%	4.89%	5.20%
Enterprise Value to Invested Capital (EV/IC)	1.80	2.16	1.94	1.87	1.65	1.85	1.79	1.79	1.85	1.80
Enterprise Value to Revenue (EV/Rev)	1.66	2.09	1.99	2.05	1.87	2.07	2.06	2.06	2.38	2.27
Enterprise Value to EBITDA (EV/EBITDA)	7.79	11.41	11.70	11.92	10.93	11.10	11.06	11.10	12.91	12.00
Enterprise Value to EBIT (EV/EBIT)	9.67	15.04	15.99	16.35	15.19	14.90	14.93	15.02	17.59	16.29
Enterprise Value to NOPAT (EV/NOPAT)	12.24	18.40	19.75	20.78	19.34	19.40	19.54	19.60	23.22	21.70
Enterprise Value to Operating Cash Flow (EV/OCF)	9.18	12.02	14.36	14.17	16.13	15.02	14.34	15.44	16.23	16.81
Enterprise Value to Free Cash Flow (EV/FCFF)	13.04	18.06	25.77	170.70	0.00	88.85	114.16	31.02	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.63	0.66	0.65	0.67	0.65	0.73	0.72	0.66	0.90	0.90
Long-Term Debt to Equity	0.63	0.66	0.64	0.59	0.60	0.69	0.58	0.57	0.82	0.81
Financial Leverage	0.47	0.52	0.54	0.55	0.55	0.60	0.61	0.62	0.69	0.71
Leverage Ratio	2.08	2.10	2.07	2.07	2.07	2.16	2.10	2.08	2.20	2.27
Compound Leverage Factor	1.90	1.63	1.84	1.86	1.83	1.85	1.81	1.83	1.89	1.86
Debt to Total Capital	38.54%	39.85%	39.21%	40.29%	39.39%	42.34%	41.84%	39.63%	47.46%	47.41%
Short-Term Debt to Total Capital	0.02%	0.02%	0.02%	4.86%	2.82%	2.72%	8.05%	5.43%	4.58%	4.59%
Long-Term Debt to Total Capital	38.52%	39.83%	39.19%	35.43%	36.57%	39.62%	33.80%	34.20%	42.88%	42.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.10%	1.14%	1.13%	1.08%	1.06%	1.00%	1.01%	1.06%	0.85%	0.90%
Common Equity to Total Capital	60.35%	59.01%	59.65%	58.63%	59.55%	56.66%	57.14%	59.31%	51.69%	51.69%
Debt to EBITDA	1.81	2.20	2.43	2.63	2.67	2.74	2.73	2.55	3.56	3.33
Net Debt to EBITDA	1.43	1.95	2.25	2.47	2.50	2.26	2.38	2.32	3.05	2.97
Long-Term Debt to EBITDA	1.81	2.20	2.43	2.31	2.48	2.56	2.20	2.20	3.22	3.00
Debt to NOPAT	2.84	3.54	4.11	4.58	4.72	4.78	4.82	4.50	6.40	6.02
Net Debt to NOPAT	2.25	3.15	3.80	4.31	4.42	3.95	4.20	4.09	5.49	5.37
Long-Term Debt to NOPAT	2.84	3.54	4.11	4.03	4.38	4.48	3.89	3.88	5.78	5.43
Altman Z-Score	3.03	3.24	3.18	2.98	2.85	2.85	2.83	2.94	2.63	2.60
Noncontrolling Interest Sharing Ratio	1.81%	1.85%	1.82%	1.79%	1.77%	1.81%	1.80%	1.78%	1.68%	1.72%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.46	1.22	1.34	0.92	1.12	1.31	0.97	1.00	1.25	1.10
Quick Ratio	1.24	0.97	1.05	0.73	0.88	1.04	0.78	0.79	1.02	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	216	161	7.43	-557	-759	-548	-584	-91	-1,509	-1,852
Operating Cash Flow to CapEx	425.42%	227.21%	74.02%	426.92%	197.14%	731.94%	148.08%	391.30%	335.85%	377.24%
Free Cash Flow to Firm to Interest Expense	6.53	0.00	0.21	-15.06	0.00	0.00	-13.59	-2.06	0.00	0.00
Operating Cash Flow to Interest Expense	15.21	0.00	2.69	12.00	0.00	0.00	3.58	8.18	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	11.64	0.00	-0.94	9.19	0.00	0.00	1.16	6.09	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.77	0.75	0.73	0.71	0.70	0.69	0.69	0.68	0.65	0.65
Accounts Receivable Turnover	7.48	7.51	7.32	7.51	7.26	7.69	7.21	7.32	7.18	7.85
Inventory Turnover	33.98	32.25	32.89	33.96	33.91	32.46	33.61	34.32	34.88	35.07
Fixed Asset Turnover	6.16	5.69	5.55	5.46	5.26	5.17	5.15	5.13	4.86	5.03
Accounts Payable Turnover	4.31	4.31	4.64	4.81	4.78	4.50	5.12	5.13	5.20	4.82
Days Sales Outstanding (DSO)	48.81	48.62	49.89	48.63	50.27	47.44	50.62	49.87	50.83	46.48
Days Inventory Outstanding (DIO)	10.74	11.32	11.10	10.75	10.76	11.25	10.86	10.63	10.47	10.41
Days Payable Outstanding (DPO)	84.62	84.77	78.63	75.94	76.38	81.11	71.34	71.13	70.25	75.80
Cash Conversion Cycle (CCC)	-25.07	-24.83	-17.65	-16.56	-15.34	-22.42	-9.86	-10.62	-8.95	-18.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,493	9,540	9,839	10,398	10,516	10,310	10,649	10,760	12,283	12,441
Invested Capital Turnover	1.09	1.03	0.99	0.95	0.93	0.93	0.91	0.88	0.84	0.87
Increase / (Decrease) in Invested Capital	86	-21	226	823	1,023	770	810	362	1,767	2,131
Enterprise Value (EV)	17,127	20,654	19,121	19,470	17,402	19,105	19,098	19,268	22,671	22,419
Market Capitalization	13,869	17,007	15,332	15,321	13,311	15,102	14,881	15,125	17,197	16,756
Book Value per Share	$53.47	$51.74	$54.35	$55.79	$57.25	$56.09	$57.95	$59.56	$61.17	$60.73
Tangible Book Value per Share	($17.75)	($21.24)	($20.37)	($24.38)	($22.51)	($23.05)	($23.33)	($22.23)	($31.55)	($34.41)
Total Capital	10,331	9,987	10,142	10,659	10,789	11,131	11,256	11,157	13,172	13,113
Total Debt	3,982	3,980	3,977	4,295	4,250	4,713	4,710	4,422	6,251	6,217
Total Long-Term Debt	3,980	3,978	3,975	3,777	3,946	4,410	3,804	3,816	5,648	5,615
Net Debt	3,144	3,533	3,674	4,034	3,977	3,892	4,103	4,025	5,362	5,545
Capital Expenditures (CapEx)	118	147	127	104	105	72	104	92	106	123
Debt-free, Cash-free Net Working Capital (DFCFNWC)	34	34	286	250	358	174	362	340	370	276
Debt-free Net Working Capital (DFNWC)	734	349	461	376	501	860	836	611	1,134	825
Net Working Capital (NWC)	732	347	459	-142	197	557	-70	5.00	531	223
Net Nonoperating Expense (NNE)	26	24	16	17	27	17	18	31	21	43
Net Nonoperating Obligations (NNO)	3,144	3,533	3,674	4,034	3,977	3,892	4,103	4,025	5,362	5,545
Total Depreciation and Amortization (D&A)	108	116	107	112	111	109	116	117	125	135
Debt-free, Cash-free Net Working Capital to Revenue	0.33%	0.34%	2.98%	2.63%	3.85%	1.88%	3.90%	3.64%	3.88%	2.80%
Debt-free Net Working Capital to Revenue	7.13%	3.53%	4.80%	3.96%	5.39%	9.30%	9.00%	6.54%	11.89%	8.36%
Net Working Capital to Revenue	7.11%	3.51%	4.78%	-1.50%	2.12%	6.02%	-0.75%	0.05%	5.57%	2.26%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.20	$0.93	$1.80	$2.08	$1.99	$1.72	$1.74	$2.05	$2.01	$1.98
Adjusted Weighted Average Basic Shares Outstanding	116M	111.32M	112M	112M	112M	110.71M	111M	111M	112M	110.98M
Adjusted Diluted Earnings per Share	$2.17	$0.92	$1.78	$2.05	$1.96	$1.70	$1.72	$2.03	$1.99	$1.95
Adjusted Weighted Average Diluted Shares Outstanding	118M	111.32M	113M	114M	114M	110.71M	112M	112M	113M	110.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	113.89M	111.32M	112.01M	112.23M	112.43M	110.71M	111.09M	111.32M	111.62M	110.98M
Normalized Net Operating Profit after Tax (NOPAT)	302	95	233	266	264	222	226	271	258	279
Normalized NOPAT Margin	12.13%	4.05%	10.01%	11.36%	11.51%	9.70%	9.53%	11.32%	10.35%	10.64%
Pre Tax Income Margin	14.12%	4.67%	11.88%	13.56%	13.03%	10.36%	11.24%	13.10%	11.90%	11.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.64	0.00	8.91	9.57	0.00	0.00	7.19	8.14	0.00	0.00
NOPAT to Interest Expense	9.14	0.00	6.67	7.18	0.00	0.00	5.25	6.17	0.00	0.00
EBIT Less CapEx to Interest Expense	8.06	0.00	5.29	6.76	0.00	0.00	4.77	6.05	0.00	0.00
NOPAT Less CapEx to Interest Expense	5.56	0.00	3.04	4.37	0.00	0.00	2.83	4.08	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.65%	37.24%	43.31%	43.36%	44.57%	40.86%	41.49%	41.57%	42.47%	41.04%
Augmented Payout Ratio	123.86%	175.96%	43.31%	43.36%	44.57%	71.15%	41.49%	41.57%	42.47%	57.44%

Frequently Asked Questions About Quest Diagnostics' Financials

When does Quest Diagnostics's fiscal year end?

According to the most recent income statement we have on file, Quest Diagnostics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Quest Diagnostics' net income changed over the last 9 years?

Quest Diagnostics' net income appears to be on an upward trend, with a most recent value of $921 million in 2024, rising from $753 million in 2015. The previous period was $908 million in 2023.

What is Quest Diagnostics's operating income?

Quest Diagnostics's total operating income in 2024 was $1.35 billion, based on the following breakdown:

Total Gross Profit: $3.24 billion
Total Operating Expenses: $1.90 billion

How has Quest Diagnostics revenue changed over the last 9 years?

Over the last 9 years, Quest Diagnostics' total revenue changed from $7.49 billion in 2015 to $9.87 billion in 2024, a change of 31.7%.

How much debt does Quest Diagnostics have?

Quest Diagnostics' total liabilities were at $9.26 billion at the end of 2024, a 21.7% increase from 2023, and a 78.7% increase since 2015.

How much cash does Quest Diagnostics have?

In the past 9 years, Quest Diagnostics' cash and equivalents has ranged from $133 million in 2015 to $1.19 billion in 2019, and is currently $549 million as of their latest financial filing in 2024.

How has Quest Diagnostics' book value per share changed over the last 9 years?

Over the last 9 years, Quest Diagnostics' book value per share changed from 32.68 in 2015 to 60.73 in 2024, a change of 85.8%.

Remove Ads

Related Companies

This page (NYSE:DGX) was last updated on 4/17/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Quest Diagnostics (DGX) Financials

Frequently Asked Questions About Quest Diagnostics' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Quest Diagnostics (DGX) Financials

Annual Income Statements for Quest Diagnostics

Quarterly Income Statements for Quest Diagnostics

Annual Cash Flow Statements for Quest Diagnostics

Quarterly Cash Flow Statements for Quest Diagnostics

Annual Balance Sheets for Quest Diagnostics

Quarterly Balance Sheets for Quest Diagnostics

Annual Metrics and Ratios for Quest Diagnostics

Quarterly Metrics and Ratios for Quest Diagnostics

Frequently Asked Questions About Quest Diagnostics' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools