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Labcorp HoldingsLH

Legal name
Labcorp Holdings Inc.
Sector
Healthcare
Industry
Services-Medical Laboratories
Exchange
NYSE

Stock Price $LH

Latest filings

You are here#42 of 52 in Healthcare by market cap

Filing record · 2016–202610-K1310-Q338-K382

LH filed 13 annual reports (10-K), 33 quarterly reports (10-Q) and 382 current reports (8-K) between 2016 and 2026.

  1. Restructuring8-K · Apr ’17Apr ’17
  2. Leadership change8-K · Jun ’19Jun ’19
  3. Material agreement8-K · May ’21May ’21
  4. Leadership change8-K · Dec ’25Dec ’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. $13.95B
YoY changeLargest recent move+21.0%in FY20Latest +7.2%

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

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All LH Financial Metrics60 metrics

Income Statement13

Balance Sheet27

Cash Flow15

Per Share5

02—Overview

Labcorp Holdings Financial Overview 2021–2025

Updated Nov 4, 2026

Diluted EPS of $24.39 in FY2021 shrank to $10.46a in FY2025, a 57% drop, and that gap is the key to the story. The earlier figure was inflated by COVID-19 testing and included the Fortrea drug-development business, which was spun off on June 30, 2023. The core thesis: the pandemic-era peak has been fully reset, and the leaner Labcorp is now growing earnings off a much lower base.

The long-term arc shows the scale of the reset. Revenue went from $16,120.9 million in FY2021 to $13,951.7 millionb in FY2025, partly because Fortrea left. The rebuild is visible after the FY2023 trough, when continuing-operations EPS was $4.33 and operating income was $725.6 million, hit by $349.0 million of impairments. Revenue then rose 7.0% in FY2024 and 7.2% in FY2025, with 4.4% organic growth in the latest year. Operating income reached $1,384.7 million. Dx brought in $10,876.5 million at a 16.4% margin, while BLS added $3,098.2 million at 16.1%.

Cash returns stayed steady. Operating cash flow was $1,640.5 millionc in FY2025, funding $450.0 million of buybacks and $240.7 million of dividends. Cash dropped to $532.3 million from $1,518.7 million, and senior notes stood at $5.2 billion. At the close of FY2025, the stock traded at $250.88, or 24.0x earnings, for a $20.6 billion market cap.

Recent Developments (Q2 and Q3 2026)

Growth accelerated through Q2 2026 and Q3 2026. Revenue rose 5.8% in Q2 and 6.9% to $3.81 billiond in Q3, with organic growth stepping up from 4.2% to 5.5%. Adjusted EPS grew 14.5% to $4.78 in Q3. Management raised full-year adjusted EPS guidance twice, to $18.30–$18.70. Biopharma margin reached 18.3% in Q3, and backlog hit $8.92 billion. At the September 10 Investor Day, Labcorp set a 2029 target of 8.5%–11.5% adjusted EPS growth. It also signed three acquisitions in October, led by BioReference at up to $872.0 million.

Bull case: organic growth, margin gains and a $1,378.6 millione buyback authorization support earnings compounding. Bear case: the stock trades at 34.5x earnings as of the Q3 2026 filing date (October 29, 2026), debt rose to $5,857.6 million by mid-year, and preliminary PAMA rates threaten steep payment cuts.

What to watch: 2027 guidance in February 2027, including PAMA impact; closing and integration of the three pending acquisitions

03—Filings

Recent SEC Filings

  1. 8-KLabcorp Holdings 8-K Report, Regulation FD Disclosure (Nov 4, 2026)
  2. 8-KLabcorp Holdings 8-K Report, Financial Results (Oct 28, 2026)Labcorp Holdings Inc. reported third-quarter 2026 results for the period ended September 30, 2026, with revenue of $3.81 billion, up 6.9% from $3.56 billion, and adjusted EPS of $4.78, up 14.5% from $4.18. Diluted EPS was $3.22, up 3.3% from $3.12. Organic revenue growth was 5.5%, and acquisitions contributed 1.5%. Operating income was $402.1 million, or 10.6% of revenue, compared with 11.1% a year earlier, while adjusted operating income rose to $570.0 million, or 15.0% of revenue, from 14.4%. Free cash flow was $412.2 million, up from $280.5 million. The company raised its full-year 2026 guidance. Enterprise revenue growth is now projected at 5.9% to 6.7%, up 50 basis points at the midpoint, and adjusted EPS is projected at $18.30 to $18.70, up 18 cents at the midpoint. Free cash flow guidance of $1,240 million to $1,360 million was unchanged. Guidance includes the estimated impact of planned acquisitions, share repurchases, and dividends. Biopharma Laboratory Services guidance was raised most significantly, to $3,328 million to $3,358 million in revenue, with growth of 7.4% to 8.4%. Management highlighted an active M&A agenda. Four transactions were announced or closed during the quarter, including the acquisition of MLM Medical Labs, and three further acquisition agreements were signed after quarter end: select assets of BioReference Health's laboratory testing businesses, Myriad Genetics' Prenatal Health testing business, and Millennium Health. Each is subject to regulatory approval and customary closing conditions. The company also declared a quarterly dividend of $0.72 per share, payable December 11, 2026, and reported $1.4 billion remaining under its share repurchase authorization. Total debt was $5.85 billion and cash was $261.8 million at quarter end.
  3. 8-KLabcorp Holdings 8-K Report, Regulation FD Disclosure (Oct 21, 2026)Labcorp Holdings Inc. (NYSE: LH) filed a Current Report on Form 8-K dated October 21, 2026, under Item 7.01 (Regulation FD Disclosure) to announce that its Board of Directors has declared a quarterly cash dividend of $0.72 per share of common stock. The dividend is payable on December 11, 2026, to stockholders of record as of the close of business on November 24, 2026. The accompanying press release, furnished as Exhibit 99.1, is titled "Labcorp Declares Quarterly Dividend" and is incorporated by reference into the filing. The filing contains no financial results, guidance, or other operational disclosures. Its substance is limited to the dividend declaration, with the press release also describing Labcorp as a global laboratory services provider with nearly 71,000 employees serving clients in approximately 100 countries.
  4. 8-KLabcorp Holdings 8-K Report, Regulation FD Disclosure (Sep 30, 2026)Labcorp Holdings Inc. (NYSE: LH) furnished a Form 8-K under Item 7.01 (Regulation FD Disclosure) on September 30, 2026, announcing that it will release its third-quarter 2026 financial results before the market opens on Wednesday, October 28, 2026. The company will host a webcast beginning at 9:00 a.m. ET that day to discuss the results. The filing's accompanying press release (Exhibit 99.1), dated September 30, 2026, serves as the scheduling announcement. It states that the earnings press release and accompanying financial information will be posted on the "News & Events" section of the Labcorp Investor Relations website, where a webcast link will also be available. A webcast replay is to be available about two hours after the live event and for one year. The filing contains no financial results, guidance, or other performance metrics. Its investor relevance is limited to the timing and access details for the third-quarter 2026 earnings release and call.
  5. 8-KLabcorp Holdings 8-K Report, Regulation FD Disclosure (Sep 22, 2026)On September 21, 2026, the Centers for Medicare & Medicaid Services (CMS) released preliminary Clinical Laboratory Fee Schedule payment rates for 2027 through 2029 under the Protecting Access to Medicare Act (PAMA). Labcorp Holdings Inc. states that the rates are based on data not fully representative of the broader commercial laboratory market and would impose steep annual payment cuts that threaten patient access to laboratory services. The company says it continues to support the bipartisan RESULTS Act, which it describes as a solution to ensure a sustainable and innovative U.S. laboratory system. The company states it had already considered the anticipated continuation of PAMA-related reimbursement pressure when it set its 2026-2029 long-term outlook at its September 10, 2026 Investor Day, and it is reaffirming that outlook. The reaffirmed targets are compound annual revenue growth of 5% to 8%, adjusted operating margin expansion of 75 to 150 basis points by the end of 2029, compound annual adjusted EPS growth of 8.5% to 11.5%, and compound annual free cash flow growth in line with adjusted earnings growth. Labcorp is still evaluating the CMS payment rates and says it expects to disclose the impact on its 2027 financial guidance when that guidance is announced in February 2027. Investors should note that the outlook is presented as a forward-looking, non-GAAP-based projection, and the company does not provide forward-looking reconciliations of its adjusted measures.
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04—See also

Related Companies

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