DGX Financials Quest Diagnostics

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 25, 2026, 10:25 UTC Overview →

Growth & profitability

Revenue has grown 3.2% per year over the past 5 years.
Net income has grown slower than revenue (-7.1% vs 3.2% per year).
Operating margin has contracted, at 14.1% in the latest year.
Free cash flow has declined 3.1% per year over the past 5 years.

Financial health

Total debt ($5.7B) exceeds cash ($420M); net debt is $5.3B.
Total debt has grown faster than revenue (7.2% vs 3.2% per year).
Total debt is 2.7× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 35.6% of earnings and 26.0% of free cash flow.
The dividend has grown 3.5% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$11.0B	$992M	33.2%	14.1%	13.8%	6.1%	$1.4B	$5.7B	$420M
2024	$9.9B	$871M	32.9%	13.6%	12.9%	5.4%	$909M	$6.2B	$549M
2023	$9.3B	$854M	33.0%	13.6%	13.5%	6.1%	$864M	$4.7B	$686M
2022	$9.9B	$946M	34.7%	14.4%	16.1%	7.4%	$1.3B	$4.0B	$315M
2021	$10.8B	$2.0B	39.0%	22.1%	31.0%	14.7%	$1.8B	$4.0B	$872M
2020	$9.4B	$1.4B	38.5%	20.9%	21.2%	10.2%	$1.6B	$4.0B	$1.2B
2019	$7.7B	$858M	34.8%	15.9%	15.2%	6.7%	$843M	$4.8B	$1.2B
2018	$7.5B	$736M	34.6%	14.6%	14.1%	6.7%	$817M	$3.9B	$135M
2017	$7.4B	$772M	36.2%	15.7%	15.7%	7.4%	$923M	$3.8B	$137M
2016	—	$645M	—	—	13.9%	6.4%	$823M	$3.7B	$359M
2015	—	$709M	—	—	15.1%	7.1%	$558M	$3.7B	$133M
2014	—	$556M	—	—	12.9%	5.6%	$636M	$3.7B	$192M
2013	—	$849M	—	—	21.5%	9.5%	$421M	$3.3B	$187M
2012	—	$556M	—	—	13.4%	6.0%	$1.0B	$3.4B	$296M
2011	—	$471M	—	—	12.8%	5.1%	$734M	$3.9B	$165M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$3.1B	$312M	33.6%	15.5%	4.1%	1.8%	$445M	$5.5B	$797M
Jun '26	$3.0B	$320M	33.7%	15.1%	4.3%	1.9%	$459M	$5.6B	$626M
Mar '26	$2.9B	$252M	32.5%	13.8%	3.4%	1.5%	$164M	—	$393M
Dec '25	$2.8B	$245M	32.4%	13.8%	3.4%	1.5%	$307M	$5.7B	$420M
Sep '25	$2.8B	$245M	33.7%	13.7%	3.4%	1.5%	$419M	—	$432M
Jun '25	$2.8B	$282M	34.2%	15.9%	3.9%	1.8%	$436M	—	$319M
Mar '25	$2.7B	$220M	32.5%	13.0%	3.2%	1.4%	$197M	—	$188M
Dec '24	$2.6B	$222M	32.7%	13.8%	3.3%	1.4%	$341M	$6.2B	$549M
Sep '24	$2.5B	$226M	32.6%	13.3%	3.3%	1.4%	$250M	$6.3B	$764M
Jun '24	$2.4B	$229M	33.5%	14.8%	3.5%	1.6%	$268M	—	$271M
Mar '24	$2.4B	$194M	32.6%	12.7%	3.0%	1.4%	$50M	—	$474M
Dec '23	$2.3B	$192M	32.2%	11.7%	3.0%	1.4%	$455M	$4.7B	$686M
Sep '23	$2.3B	$225M	32.9%	14.9%	3.5%	1.7%	$102M	—	$143M
Jun '23	$2.3B	$235M	33.9%	14.9%	3.8%	1.8%	$340M	—	$126M
Mar '23	$2.3B	$202M	33.1%	13.1%	3.3%	1.6%	-$33M	—	$175M
Dec '22	$2.3B	$101M	32.5%	5.8%	1.7%	0.8%	$187M	$4.0B	$315M
Sep '22	$2.5B	$256M	34.9%	15.8%	4.1%	1.9%	$384M	—	$700M
Jun '22	$2.5B	$234M	34.3%	15.8%	3.6%	1.8%	$326M	—	$790M
Mar '22	$2.6B	$355M	37.0%	19.6%	5.6%	2.6%	$417M	—	$712M
Dec '21	$2.7B	$390M	37.4%	19.5%	6.1%	2.9%	$337M	$4.0B	$872M

Valuation over time

How the market has priced DGX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 16.5× (Mar '23) to 27.8× (Nov '26).
The price-to-sales ratio has risen from 1.6× (Mar '23) to 2.5× (Nov '26).
The dividend yield has fallen from 2.0% (Mar '23) to 1.3% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is DGX growing its revenue and profit?

Over the past 5 years, Quest Diagnostics's revenue has grown 3.2% per year, and net income declined 7.1% per year. These are computed facts, not advice.

How much debt does DGX have?

As of FY2025, Quest Diagnostics reported $5.7B of total debt against $420M of cash.

What is DGX's profit margin?

In FY2025, gross margin was 33.2%, operating margin 14.1%, and net margin 9.0%.

What is DGX's P/E ratio?

Quest Diagnostics's P/E (TTM) is 24.44 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the DGX stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 27.8× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.