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QUEST DIAGNOSTICS INCDGX

Sector
Healthcare
Industry
Services-Medical Laboratories
Exchange
NYSE

Stock Price $DGX

Latest filings

You are here#39 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q328-K132

DGX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 132 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’16May ’16
  2. Leadership change8-K · Jun ’20Jun ’20
  3. Leadership change8-K · Nov ’22Nov ’22
  4. FY2024 annual report10-K · Feb ’25Feb ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $11.04B
YoY changeLargest recent move+22.1%in FY20Latest +11.8%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All DGX Financial Metrics59 metrics

Income Statement15

Balance Sheet24

Cash Flow15

Per Share5

02—Overview

QUEST DIAGNOSTICS INC Financial Overview 2021–2025

Updated Aug 8, 2026

Quest Diagnostics absorbed a massive pandemic-era revenue cliff and still managed to hit $11.0 billiona in net sales for FY2025, proving it can replace one-time testing spikes with durable volume. The company has successfully pivoted from unpredictable pandemic tailwinds to sustainable expansion driven by strategic acquisitions and core diagnostic growth. Revenue grew from $10.8 billion in FY2021—a period heavily skewed by 63 million COVID-19 tests—to $11.0 billion in FY2025, demonstrating a complete replacement of those temporary gains with recurring business.

This operational shift is anchored by aggressive capital deployment, including $2.2 billionb spent on acquisitions in FY2024 to integrate assets like LifeLabs and Allina Health. These investments yielded tangible results, with the core Diagnostic Information Services segment driving a 10.2% year-over-year total revenue increase to $3.04 billion in Q2 2026. The company also cemented its institutional footprint in FY2025, generating $1.2 billion from hospital reference testing and $800 million from collaborative lab solutions. Investors have supported this steady execution and a reliable capital return strategy, which featured a 7.5% dividend increase in early 2026. At the close of FY2025, the stock traded at $173.53 per share, commanding a valuation of 19.8x earnings.

Recent Developments (Q1 and Q2 2026)

Quest Diagnostics expanded its testing volumes in early 2026 through clinical partnerships with Corewell Health and Fresenius Medical Care. These relationships fueled a 13.1% increase in diagnostic volume during Q2 2026. Top-line results followed suit, with net revenues climbing 9.2% to $2.9 billionc in Q1 2026. The company also fortified its leadership and balance sheet. Management appointed former Walgreens executive Timothy Wentworth to the board in March 2026. Two months later, the company issued $500 million in 5.000% senior notes due 2036 to refinance maturing debt.

Bulls can point to robust profitability gains, highlighted by a 15.0% jump in diluted earnings per share to $2.84d during the second quarter. Conversely, bears will note that the evolving business mix from these new partnerships caused a slight decrease in revenue per requisition. The market has rewarded this earnings expansion, with shares trading at a premium 26.0x earnings as of the Q2 2026 reporting date.

What to watch: revenue per requisition trends; execution of the Invigorate cost-savings program.

03—Filings

Recent SEC Filings

  1. 8-KQUEST DIAGNOSTICS INC 8-K Report, Corporate Update (Oct 22, 2026)Quest Diagnostics Incorporated (DGX) reported on October 22, 2026, an Item 8.01 filing concerning a cybersecurity incident discovered on October 21, 2026. The company identified unauthorized access to its Quanum LSM system, a platform used by clients for test ordering and results retrieval. Quest Diagnostics has initiated its cybersecurity response protocols, including notifying federal law enforcement and engaging external experts to investigate the nature and scope of the breach. While the full extent of the incident is still under investigation, the company currently believes that certain patient records may have been accessed. Importantly, Quest Diagnostics stated that this incident has not materially disrupted its business operations or its ability to serve patients. Investors should note that forward-looking statements within this filing are subject to risks and uncertainties, including the potential impact of this incident and other factors outlined in the company's SEC filings.
  2. 8-KQUEST DIAGNOSTICS INC 8-K Report, Financial Results (Oct 22, 2026)Quest Diagnostics Incorporated (DGX) reported strong third quarter 2026 financial results, exceeding expectations and prompting an upward revision of its full-year 2026 guidance. The company announced total revenues of $3.10 billion, a 10.0% increase year-over-year, driven by robust organic revenue growth. Reported diluted EPS rose by 28.7% to $2.78, with adjusted diluted EPS growing 15.4% to $3.00. This performance has led Quest Diagnostics to raise its full-year revenue guidance to a range of $12.065 billion to $12.105 billion and its adjusted diluted EPS guidance to $11.25-$11.35. The company attributes its success to strong performance across physician, hospital, and consumer channels, augmented by efficiency gains from automation and AI, and highlighted strategic initiatives such as expanding its Alzheimer's diagnostic offerings and an integration with Apple Health.
  3. 8-KQUEST DIAGNOSTICS INC 8-K Report, Executive Changes (Oct 6, 2026)Quest Diagnostics Incorporated (DGX) has announced a significant leadership transition involving Catherine T. Doherty, who will retire in July 2027. To ensure a smooth handover and leverage her expertise, Ms. Doherty will transition from her current role to Executive Vice President, effective November 1, 2026. In this new capacity, she will focus on key strategic areas including health systems, the company's joint venture with Corewell Health, and Project Nova, a critical initiative aimed at modernizing the "Order to Cash" business processes and associated IT infrastructure. This transition is accompanied by adjustments to Ms. Doherty's compensation and incentive structure. Her base salary of $650,000 and target annual incentive compensation remain unchanged. However, she will receive a long-term equity award valued at $1,200,000, entirely in restricted stock units, granted on November 3, 2026. This award aligns with the terms of other senior executive long-term incentives. Investors should note that this filing does not involve any new financial performance disclosures or material changes in business operations beyond this executive transition.
  4. 8-KQUEST DIAGNOSTICS INC 8-K Report, Financial Results (Jul 23, 2026)Quest Diagnostics (DGX) reported strong second-quarter 2026 results, with net revenues of $3.04 billion, up 10.2% year over year, and 10.0% organic revenue growth. Requisition volume rose 13.1%, though revenue per requisition declined 2.8%, indicating that growth is being driven by volume rather than pricing or mix. Reported diluted EPS was $2.84 (up 15.0%), and adjusted diluted EPS was $3.12 (up 19.1%). Operating income grew 4.6% on a reported basis, with the operating margin falling to 15.1% from 15.9%, while the adjusted operating margin declined to 16.5% from 16.9%. Cash from operations rose 9.7% to $597 million for the quarter. Management raised full-year 2026 guidance. Net revenues are now expected at $11.95 to $12.05 billion (8.3% to 9.2% growth), up from $11.78 to $11.90 billion. Reported diluted EPS is now $9.97 to $10.17, and adjusted diluted EPS is $11.05 to $11.25, up from $10.63 to $10.83. Management attributed part of the EPS raise to favorable resolution of tax contingencies in the quarter, and the adjusted effective tax rate is expected to be consistent with 2025. Guidance for operating cash flow was lowered to approximately $1.75 billion from approximately $1.80 billion, which is a point investors should weigh against the earnings increase. Capital expenditures are unchanged at approximately $550 million. The balance sheet shows total debt of roughly $5.64 billion, down from about $5.67 billion at year-end 2025, with cash of $626 million. Accounts receivable rose 18% to $1.67 billion, which contributed to the year-to-date cash flow drag. Goodwill increased to $9.11 billion, and noncontrolling interests rose sharply to $303 million from $36 million, reflecting the Corewell Health joint venture. Share repurchases totaled $100 million in the quarter, with $1.3 billion remaining under the authorization.
  5. 8-KQUEST DIAGNOSTICS INC 8-K Report, Shareholder Vote Results (May 21, 2026)Quest Diagnostics Inc. (DGX) filed an 8-K report on May 21, 2026, detailing the results of its 2026 Annual Meeting of Stockholders held on May 20, 2026. The primary focus of this filing is the voting outcomes on key corporate governance matters, including director elections and executive compensation. The company saw overwhelming support for its nominated directors, with all nominees being re-elected with substantial 'For' votes, indicating strong shareholder confidence in the current board leadership. Furthermore, shareholders approved the executive compensation as disclosed in the 2026 Proxy Statement through an advisory resolution, and also ratified the appointment of PricewaterhouseCoopers as the independent registered public accounting firm for the fiscal year 2026. Notably, a stockholder proposal advocating for an independent board chairman was not approved, reflecting a preference for the current board structure. Overall, the results signal a positive shareholder sentiment regarding the company's governance and financial oversight.
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04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.