QUEST DIAGNOSTICS INC

10-K & 10-Q Filings

Quest Diagnostics is a leading diagnostic information services company based in Secaucus, New Jersey. The company was incorporated in Delaware in 1990 and serves approximately half of the physicians, hospitals, and patients in the United States each year. Quest Diagnostics aims to create a healthier world by providing diagnostic insights from laboratory testing to empower people, physicians, and organizations to take action to improve health outcomes. The company's strategy includes generating growth through value-creating acquisitions, optimizing operating efficiency, and leveraging advanced diagnostics. Quest Diagnostics operates two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic information services, providing insights from the results of laboratory testing. The Diagnostic Solutions group includes risk assessment services and healthcare IT businesses. The company primarily operates in the United States but sees opportunities to bring its expertise to markets outside the country. Quest Diagnostics is publicly traded on the New York Stock Exchange under the ticker symbol DGX. For more information, visit the company's website at www.questdiagnostics.com.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$7510.49
7382.56
7146.00
7435.00
7340.00
7372.00
7558.00
7364.00
7551.00
9274.00
10637.00
9745.00
9100.00
2296.00
2323.00
1.61%1.18%Cost of Revenue (-)
$4634.09
4361.82
3888.00
4630.00
4668.00
4603.00
4720.00
4912.00
4942.00
5813.00
6577.00
6461.00
6240.00
1561.00
1597.00
2.51%2.31%Gross Profit (+)
$2876.40
3020.74
3258.00
2805.00
2672.00
2769.00
2838.00
2452.00
2609.00
3461.00
4060.00
3284.00
2860.00
735.00
726.00
-0.05%-1.22%Selling, General & Administrative (-)
$1814.32
1745.20
1704.00
1728.00
1679.00
1681.00
1750.00
1424.00
1457.00
1550.00
1727.00
1874.00
1642.00
439.00
440.00
-0.83%0.23%Depreciation & Amortization (-)
$67.03
74.75
79.00
94.00
81.00
72.00
74.00
90.00
96.00
103.00
103.00
120.00
108.00
26.00
29.00
4.05%11.54%Operating Expenses (-)
$1881.35
1819.95
1783.00
1822.00
1437.00
1622.00
1825.00
1504.00
1458.00
1662.00
1828.00
2005.00
1791.00
466.00
471.00
-0.41%1.07%Costs & Expenses (Total) (-)
$6515.44
6181.77
5671.00
6452.00
6094.00
6238.00
6544.00
6430.00
6495.00
7466.00
8407.00
8455.00
7990.00
2026.00
2066.00
1.71%1.97%Operating Income/Loss (+)
$995.05
1200.80
1475.00
983.00
1399.00
1277.00
1165.00
1101.00
1231.00
1971.00
2381.00
1428.00
1262.00
305.00
300.00
2.00%-1.64%Non-operating Income/Expense (+)
$-138.82
-132.40
-127.00
-134.00
-296.00
-191.00
-135.00
-175.00
-155.00
-87.00
218.00
-193.00
-132.00
-28.00
-34.00
-21.43%Earnings before Tax (+)
$856.23
1068.39
1348.00
849.00
1103.00
1086.00
1030.00
926.00
1076.00
1884.00
2599.00
1235.00
1130.00
277.00
266.00
2.34%-3.97%Tax Expense (-)
$349.00
401.90
500.00
262.00
373.00
429.00
241.00
182.00
247.00
460.00
597.00
264.00
248.00
65.00
66.00
-2.81%1.54%Income/Loss (Continuing Operations) (+)
$507.23
666.50
848.00
587.00
753.00
696.00
789.00
744.00
886.00
1499.00
2080.00
971.00
882.00
212.00
200.00
4.72%-5.66%Income/Loss (Discontinued Operations) (+)
$-1.58
-74.36
35.00
5.00
20.00
Profit/Loss (+)
$505.65
592.13
883.00
592.00
753.00
696.00
824.00
788.00
906.00
1499.00
2080.00
1015.00
908.00
217.00
208.00
5.00%-4.15%Net Income/Loss (NCI) (-)
$35.08
36.41
34.00
36.00
44.00
51.00
52.00
52.00
48.00
68.00
85.00
69.00
54.00
15.00
14.00
3.66%-6.67%Net Income/Loss (+)
$470.57
555.72
849.00
556.00
709.00
645.00
772.00
736.00
858.00
1431.00
1995.00
946.00
854.00
202.00
194.00
5.09%-3.96%Net Income/Loss (Common) (+)
$470.57
555.72
849.00
556.00
709.00
645.00
772.00
736.00
858.00
1431.00
1995.00
946.00
854.00
202.00
194.00
5.09%-3.96%EPS (Basic)
$2.95
3.49
5.58
3.83
4.92
4.58
5.63
5.39
6.36
10.62
15.85
8.10
7.59
1.80
1.74
8.19%-3.33%EPS (Diluted)
$2.92
3.46
5.54
3.81
4.87
4.51
5.50
5.29
6.28
10.47
15.55
7.97
7.49
1.78
1.72
8.17%-3.37%Weighted Avg Shares (Basic)
158.34
158.22
144.31
144.31
142.76
137.50
135.64
134.26
133.46
133.45
119.45
111.32
110.71
112.00
111.00
-2.94%-0.89%Weighted Avg Shares (Diluted)
113.00
112.00
-0.88%Cash
$164.89
295.59
187.00
192.00
133.00
359.00
137.00
135.00
1192.00
1158.00
872.00
315.00
686.00
175.00
474.00
12.61%170.86%Receivables
$906.46
867.01
852.00
932.00
901.00
926.00
924.00
1012.00
1063.00
1520.00
1438.00
1195.00
1210.00
1254.00
1322.00
2.44%5.42%Inventory
$89.13
93.05
91.00
110.00
84.00
82.00
95.00
99.00
123.00
223.00
208.00
192.00
190.00
190.00
181.00
6.51%-4.74%Prepaid Expenses (Current)
$
90.95
105.00
207.00
155.00
150.00
Other Assets (Current)
$240.79
214.40
148.00
369.00
176.00
9.00
144.00
112.00
157.00
223.00
196.00
286.00
195.00
251.00
1.44%28.72%Assets (Current)
$1401.26
1561.00
1383.00
1603.00
1501.00
1531.00
1306.00
1390.00
2490.00
3058.00
2741.00
1898.00
2372.00
1814.00
2228.00
4.48%22.82%Securities & Long-term Investments
$
473.00
443.00
462.00
436.00
482.00
521.00
141.00
132.00
135.00
128.00
133.00
3.91%Property, Plant & Equipment (Net)
$799.77
755.83
805.00
933.00
925.00
1029.00
1145.00
1288.00
1971.00
2231.00
2304.00
2351.00
2418.00
2384.00
2389.00
9.66%0.21%Goodwill & Intangibles
$6831.38
6408.02
6545.00
7103.00
6889.00
6949.00
7454.00
7770.00
7740.00
8040.00
8262.00
8312.00
8899.00
8318.00
9022.00
2.23%8.46%Other Assets
$368.43
559.01
215.00
238.00
174.00
148.00
136.00
119.00
160.00
176.00
163.00
144.00
198.00
150.00
182.00
-5.04%21.33%Assets (Non-current)
$7999.58
7722.87
7565.00
8274.00
8461.00
8569.00
9197.00
9613.00
10353.00
10968.00
10870.00
10939.00
11650.00
10980.00
11726.00
3.18%6.79%Assets (Total)
$9313.38
9283.86
8948.00
9877.00
9962.00
10100.00
10503.00
11003.00
12843.00
14026.00
13611.00
12837.00
14022.00
12794.00
13954.00
3.47%9.07%Accounts Payable
$906.76
1016.19
920.00
1191.00
1014.00
975.00
1021.00
1021.00
1041.00
1633.00
1600.00
1396.00
1359.00
1198.00
1239.00
3.43%3.42%Debt (Current)
$654.39
9.40
212.00
518.00
159.00
6.00
36.00
464.00
949.00
2.00
2.00
2.00
303.00
2.00
906.00
-6.21%45200.00%Other Liabilities (Current)
$
22.01
141.00
151.00
153.00
153.00
155.00
153.00
-1.29%Liabilities (Current)
$1561.16
1047.60
1132.00
1709.00
1173.00
981.00
1057.00
1485.00
1990.00
1776.00
1753.00
1551.00
1815.00
1355.00
2298.00
1.26%69.59%Debt (Non-current)
$3370.52
3354.17
3120.00
3244.00
3492.00
3728.00
3748.00
3429.00
4379.00
4013.00
4010.00
3978.00
4410.00
3975.00
3804.00
2.27%-4.30%Other Liabilities
$666.70
696.36
723.00
594.00
514.00
654.00
663.00
745.00
711.00
1346.00
1286.00
1301.00
1379.00
1299.00
1306.00
6.24%0.54%Liabilities (Non-current)
$4037.22
4050.53
3843.00
3838.00
4006.00
4382.00
4411.00
4174.00
5090.00
5359.00
5296.00
5279.00
5789.00
5274.00
5110.00
3.05%-3.11%Liabilities (Total)
$5598.38
5098.13
4975.00
5547.00
5179.00
5363.00
5468.00
5659.00
7080.00
7135.00
7049.00
6830.00
7604.00
6629.00
7408.00
2.58%11.75%Treasury Stock
$2912.32
2914.48
3783.00
3815.00
3960.00
4460.00
4783.00
4996.00
5218.00
5366.00
3453.00
4673.00
4826.00
4612.00
4781.00
4.30%3.66%Retained Earnings
$4263.60
4690.38
5358.00
5723.00
6199.00
6613.00
7138.00
7602.00
8174.00
9303.00
7649.00
8290.00
8825.00
8412.00
8935.00
6.25%6.22%AOCI
$-8.07
14.32
-8.00
-27.00
-38.00
-72.00
-48.00
-59.00
-39.00
-21.00
-14.00
-21.00
-14.00
-18.00
-16.00
11.11%Shareholder's Equity
$3715.00
4185.73
3973.00
4330.00
4713.00
4660.00
4955.00
5267.00
5687.00
6809.00
6483.00
5930.00
6342.00
6088.00
6469.00
4.56%6.26%Liabilities & Equity
$9313.38
9283.86
8948.00
9877.00
9962.00
10100.00
10503.00
11003.00
12843.00
14026.00
13611.00
12837.00
14022.00
12794.00
13954.00
3.47%9.07%Net Income/Loss
$505.65
592.13
883.00
592.00
753.00
696.00
824.00
788.00
906.00
1499.00
2080.00
1015.00
908.00
217.00
208.00
5.00%-4.15%Depreciation & Amortization
$281.10
286.60
283.00
314.00
304.00
249.00
270.00
309.00
329.00
361.00
408.00
437.00
439.00
107.00
116.00
3.78%8.41%Increase/Decrease in Working Capital
$511.56
91.66
372.00
326.00
375.00
166.00
316.00
49.00
-35.00
-22.00
-87.00
-119.00
145.00
252.00
186.00
-9.97%-26.19%Share-based Compensation
$71.91
50.33
28.00
51.00
52.00
69.00
79.00
61.00
56.00
97.00
79.00
77.00
77.00
24.00
22.00
0.57%-8.33%Adjustments to Reconcile Net Income
$389.82
595.03
-231.00
346.00
57.00
373.00
351.00
412.00
337.00
506.00
153.00
703.00
364.00
-123.00
-54.00
-0.57%56.10%Net Cash (Operating)
$895.47
1187.17
652.00
938.00
810.00
1069.00
1175.00
1200.00
1243.00
2005.00
2233.00
1718.00
1272.00
94.00
154.00
2.97%63.83%Capital Expenditure
$1460.18
215.57
165.00
1036.00
363.00
162.00
832.00
802.00
367.00
745.00
-24.00
548.00
1019.00
158.00
246.00
-2.95%55.70%Net Cash (Investing)
$-1243.43
-217.14
328.00
-1025.00
-362.00
-152.00
-805.00
-801.00
-411.00
-772.00
21.00
-543.00
-1061.00
-158.00
-213.00
-34.81%Increase/Decrease in Debt
$1710.31
-654.41
-4.00
371.00
-84.00
145.00
23.00
124.00
832.00
-805.00
-2.00
-2.00
748.00
-6.66%Increase/Decrease in Equity
$-934.99
-200.00
-1037.00
-132.00
-224.00
-590.00
-335.00
-223.00
-234.00
-136.00
-2070.00
-1285.00
-203.00
25.00
12.00
-52.00%Dividends Paid
$100.33
145.93
217.00
218.00
254.00
264.00
298.00
320.00
340.00
355.00
408.00
378.00
371.00
88.00
90.00
11.51%2.27%Net Cash (Financing)
$63.55
-822.10
-1106.00
92.00
-507.00
-691.00
-592.00
-401.00
225.00
-1267.00
-2540.00
-1732.00
160.00
-76.00
-153.00
8.00%-101.32%Increase/Decrease in Cash
$-284.42
147.93
-126.00
5.00
-59.00
226.00
-222.00
-2.00
1057.00
-34.00
-286.00
-557.00
371.00
-140.00
-212.00
-51.43%Cash (Beginning)
$449.30
164.89
296.00
187.00
192.00
133.00
359.00
137.00
135.00
1192.00
1158.00
872.00
315.00
315.00
686.00
-2.92%117.78%Cash (Ending)
$164.89
295.59
187.00
192.00
133.00
359.00
137.00
135.00
1192.00
1158.00
872.00
315.00
686.00
175.00
474.00
12.61%170.86%NOPAT
$589.47
749.09
927.89
679.65
925.90
772.55
892.41
884.60
948.42
1489.76
1834.08
1122.74
985.03
233.43
225.56
4.37%-3.37%Gross Margin %
38.30%
40.92%
45.59%
37.73%
36.40%
37.56%
37.55%
33.30%
34.55%
37.32%
38.17%
33.70%
31.43%
32.01%
31.25%
Operating Margin %
13.25%
16.27%
20.64%
13.22%
19.06%
17.32%
15.41%
14.95%
16.30%
21.25%
22.38%
14.65%
13.87%
13.28%
12.91%
NOPAT Margin %
7.85%
10.15%
12.98%
9.14%
12.61%
10.48%
11.81%
12.01%
12.56%
16.06%
17.24%
11.52%
10.82%
10.17%
9.71%
Net Margin %
6.27%
7.53%
11.88%
7.48%
9.66%
8.75%
10.21%
9.99%
11.36%
15.43%
18.76%
9.71%
9.38%
8.80%
8.35%
Tax Rate %
40.76%
37.62%
37.09%
30.86%
33.82%
39.50%
23.40%
19.65%
22.96%
24.42%
22.97%
21.38%
21.95%
23.47%
24.81%
ROA
6.33%
8.07%
10.37%
6.88%
9.29%
7.65%
8.50%
8.04%
7.38%
10.62%
13.47%
8.75%
7.02%
1.82%
1.62%
ROE
15.87%
17.90%
23.35%
15.70%
19.65%
16.58%
18.01%
16.80%
16.68%
21.88%
28.29%
18.93%
15.53%
3.83%
3.49%
ROIC
7.48%
10.01%
12.11%
8.41%
11.40%
9.06%
10.05%
9.53%
8.94%
13.26%
16.08%
10.31%
8.23%
2.11%
1.91%
Asset Turnover
0.81
0.80
0.80
0.75
0.74
0.73
0.72
0.67
0.59
0.66
0.78
0.76
0.65
0.18
0.17
Inventory Turnover
51.99
46.88
42.73
42.09
55.57
56.13
49.68
49.62
40.18
26.07
31.62
33.65
32.84
8.22
8.82
Equity Multiplier
2.51
2.22
2.25
2.28
2.11
2.17
2.12
2.09
2.26
2.06
2.10
2.16
2.21
2.10
2.16
Current Ratio
0.90
1.49
1.22
0.94
1.28
1.56
1.24
0.94
1.25
1.72
1.56
1.22
1.31
1.34
0.97
Quick Ratio
0.69
1.11
0.92
0.66
0.88
1.31
1.00
0.77
1.13
1.51
1.32
0.97
1.04
1.05
0.78
Debt/Equity Ratio
1.08
0.80
0.84
0.87
0.77
0.80
0.76
0.74
0.94
0.59
0.62
0.67
0.74
0.65
0.73
Working Capital/Sales
0.03
0.04
0.04
0.01
0.04
0.07
0.04
0.03
0.12
0.10
0.08
0.02
0.07
0.15
0.18
Dividend Payout Ratio %
17.02%
19.48%
23.39%
32.08%
27.43%
34.17%
33.39%
36.17%
35.85%
23.83%
22.25%
33.67%
37.66%
37.70%
39.90%
Total Payout
$-674.98
1000.34
1258.00
-21.00
562.00
709.00
610.00
419.00
-258.00
1296.00
2480.00
1665.00
-174.00
63.00
78.00
23.81%Payout Ratio %
-114.51%
133.54%
135.58%
-3.09%
60.70%
91.77%
68.35%
47.37%
-27.20%
86.99%
135.22%
148.30%
-17.66%
26.99%
34.58%