LABORATORY CORP OF AMERICA HOLDINGS

10-K & 10-Q Filings

Labcorp, a global leader in laboratory services, is a North Carolina-based company with over 67,000 employees and operations in more than 100 countries. The company operates under two segments: Diagnostics Laboratories (Dx) and Biopharma Laboratory Services (BLS). Labcorp's mission is to provide vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. The company generated revenues of $12,161.6 million, diluted earnings per share from continuing operations of $4.33, and had a total operating cash flow from continuing operations of $1,202.3 million for the year ended December 31, 2023. Labcorp's business strategy includes expanding its role in the healthcare market by strengthening its positions across its portfolio of capabilities, growing strategic opportunities, and differentiating its unique offerings. The company is focused on two near-term strategic opportunities for growth: becoming the partner of choice for health systems and local and regional laboratories, and leading in the development, licensing, and scaling of specialty testing including companion diagnostics. The company's Diagnostics Laboratories segment includes routine testing and specialty/esoteric testing, while the Biopharma Laboratory Services segment consists of Early Development Research Laboratories and Central Laboratory Services. Labcorp worked on 90% of the new drugs approved by the FDA in 2023 and performed over 600 million tests for patients worldwide. The company's website is www.labcorp.com, and its stock is traded on the New York Stock Exchange under the ticker symbol LH.

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 (+)
$5542.30
5671.40
5808.30
6011.60
8680.10
9641.80
10441.40
11333.40
11554.80
13978.50
16120.90
14876.80
12161.60
3777.90
3176.60
6.77%-15.92%Cost of Revenue (-)
$3267.60
3421.70
3585.10
3808.50
5776.80
6461.30
6977.40
8157.00
8302.30
9025.70
10496.60
10491.70
8796.70
2803.20
2279.30
8.60%-18.69%Gross Profit (+)
$2274.70
2249.70
2223.20
2203.10
2903.30
3180.50
3464.00
3176.40
3252.50
4952.80
5624.30
4385.10
3364.90
974.70
897.30
3.32%-7.94%Selling, General & Administrative (-)
$1159.60
1114.60
1128.80
1198.20
1622.00
1630.20
1812.40
1570.90
1624.50
1729.30
1952.10
1996.60
2021.40
553.60
508.40
4.74%-8.16%Depreciation & Amortization (-)
$85.80
86.30
81.70
76.70
164.50
179.50
216.50
231.70
243.20
275.40
369.60
259.30
219.80
69.30
60.10
8.15%-13.28%Non-recurring Operating Expenses (-)
$
2.20
2.50
13.64%Operating Expenses (-)
$1326.30
1226.20
1232.30
1292.70
1900.40
1868.10
2099.80
1850.70
1922.30
2507.40
2364.80
2611.20
2639.30
633.70
571.00
5.90%-9.89%Costs & Expenses (Total) (-)
$4593.90
4622.60
4795.60
5083.40
7677.20
8329.40
9077.20
9959.60
10170.00
11533.10
12818.30
13102.90
11436.00
3428.30
2850.30
7.90%-16.86%Operating Income/Loss (+)
$948.40
1023.50
990.90
910.40
1002.90
1312.40
1364.20
1325.70
1330.20
2445.40
3259.50
1773.90
725.60
341.00
321.30
-2.21%-5.78%Non-operating Income/Expense (+)
$5.20
15.20
21.20
25.80
4.10
12.20
5.80
186.80
15.40
-18.90
79.20
-11.00
42.90
-12.50
23.00
19.23%284.00%Interest Expense (-)
$87.50
94.50
96.50
109.50
274.90
219.10
235.10
244.20
240.70
207.40
212.10
180.30
199.60
101.40
46.90
7.11%-53.75%Earnings before Tax (+)
$866.10
944.20
915.60
826.70
732.10
1105.50
1134.90
1268.30
1104.90
2219.10
3126.60
1582.60
607.70
277.80
297.40
-2.91%7.06%Tax Expense (-)
$333.00
359.40
340.20
314.10
294.10
372.30
-139.10
384.40
280.00
662.10
747.10
302.00
188.50
64.50
69.10
-4.63%7.13%Income/Loss (Continuing Operations) (+)
$533.10
584.80
575.40
512.60
438.00
733.20
1274.00
883.90
824.90
1557.00
2379.50
1280.60
419.20
213.30
228.30
-1.98%7.03%Income/Loss (Discontinued Operations) (+)
$
Profit/Loss (+)
$533.10
584.80
575.40
512.60
438.00
733.20
1274.00
883.90
824.90
1557.00
2379.50
1280.60
419.20
213.30
228.30
-1.98%7.03%Net Income/Loss (NCI) (-)
$13.40
1.70
1.60
1.40
1.10
1.10
5.80
0.20
1.10
0.90
2.20
1.50
1.20
0.80
0.60
-18.22%-25.00%Net Income/Loss (+)
$519.70
583.10
573.80
511.20
436.90
732.10
1268.20
883.70
823.80
1556.10
2377.30
1279.10
418.00
212.90
228.00
-1.80%7.09%Net Income/Loss (Common) (+)
$519.70
583.10
573.80
511.20
436.90
732.10
1268.20
883.70
823.80
1556.10
2377.30
1279.10
418.00
212.90
228.00
-1.80%7.09%EPS (Basic)
$5.20
6.09
6.36
4.80
2.41
2.71
-0.66%12.45%EPS (Diluted)
$5.11
5.99
6.25
4.77
2.39
2.69
-0.57%12.55%Weighted Avg Shares (Basic)
97.20
93.10
85.30
100.30
101.70
102.30
101.90
98.60
97.30
97.60
93.40
88.50
84.10
88.60
84.29
-1.20%-4.86%Cash
$159.30
466.80
404.00
580.00
716.40
433.60
316.70
426.80
337.50
1320.80
1472.70
430.00
536.80
10.65%Receivables
$699.80
718.50
784.70
815.70
1217.90
1328.70
1481.30
1467.90
1543.90
2479.80
2261.50
2222.00
1913.30
2344.80
2083.70
8.74%-11.14%Inventory
$110.80
121.00
136.50
139.50
191.00
205.20
227.60
237.30
244.70
423.20
401.40
470.60
474.60
481.40
475.00
12.89%-1.33%Prepaid Expenses (Current)
$79.60
74.60
106.90
157.50
340.30
321.20
421.40
309.00
373.70
364.80
478.10
707.00
655.30
769.80
678.10
19.20%-11.91%Other Assets (Current)
$35.30
10.90
197.40
190.00
235.60
394.40
481.40
536.80
716.80
795.40
185.40
1099.00
219.70
14.82%-80.01%Assets (Current)
$1084.80
1391.80
1432.10
1692.70
2663.00
2478.70
2682.60
2835.40
2981.20
5125.40
5330.50
4625.00
3765.40
4695.00
3456.50
10.93%-26.38%Securities & Long-term Investments
$76.80
78.10
88.50
92.60
58.20
57.60
58.40
60.50
84.90
73.50
60.90
65.70
26.90
65.80
17.70
-8.37%-73.10%Property, Plant & Equipment (Net)
$578.30
630.80
707.40
786.50
1747.40
1718.60
1748.90
1784.70
2636.60
2729.60
2815.40
2956.20
2911.80
14.42%Goodwill & Intangibles
$4302.50
4569.40
4594.80
4575.20
9551.20
9824.90
11870.80
11271.40
11899.50
11712.60
11694.40
12067.90
9484.50
12028.30
9613.00
6.81%-20.08%Other Assets
$94.20
124.90
143.10
154.80
201.90
167.20
207.30
233.30
444.20
430.60
484.20
440.30
536.50
3410.90
3443.80
15.60%0.96%Assets (Non-current)
$5051.80
5403.20
5533.80
5609.10
11558.70
11768.30
13885.40
13349.90
15065.20
14946.30
15054.90
15530.10
12959.70
15505.00
13074.50
8.17%-15.68%Assets (Total)
$6136.60
6795.00
6965.90
7301.80
14221.70
14247.00
16568.00
16185.30
18046.40
20071.70
20385.40
20155.10
16725.10
20200.00
16531.00
8.71%-18.16%Accounts Payable
$661.90
548.50
614.50
623.70
1130.50
1102.10
1295.90
1504.60
1574.70
1996.60
2025.40
2003.60
1631.50
1810.20
1344.80
7.81%-25.71%Debt (Current)
$135.50
480.00
111.30
347.10
424.90
549.50
417.50
17.90
415.20
383.40
10.50
6.00
6.40
6.10
6.40
-22.46%4.92%Other Liabilities (Current)
$
9.90
5.50
146.10
176.00
332.70
356.40
665.90
698.50
747.00
1068.90
1587.30
1069.30
2590.30
142.24%Liabilities (Current)
$797.40
1028.50
735.70
976.30
1701.50
1827.60
2046.10
1878.90
2655.80
3078.50
2782.90
3078.50
3225.20
2885.60
3941.50
12.35%36.59%Debt (Non-current)
$2085.50
2175.00
2889.10
2682.70
5992.10
5300.00
6344.60
6041.90
687.70
5503.40
5501.10
5122.40
4133.30
5134.30
3124.70
5.87%-39.14%Other Liabilities
$730.00
853.40
830.40
804.60
1568.80
1598.40
1326.50
1274.00
7135.90
2109.40
1807.40
1838.70
1476.10
1819.30
1490.00
6.04%-18.10%Liabilities (Non-current)
$2815.50
3028.40
3719.50
3487.30
7560.90
6898.40
7671.10
7315.90
7823.60
7612.80
7308.50
6961.10
5609.40
6953.60
4614.70
5.91%-33.64%Liabilities (Total)
$3612.90
4056.90
4455.20
4463.60
9262.40
8726.00
9717.20
9194.80
10459.30
10691.30
10091.40
10039.60
8834.60
9839.20
8556.20
7.74%-13.04%Treasury Stock
$940.90
951.80
958.90
965.50
978.10
1012.70
1060.10
1108.10
Retained Earnings
$3387.20
3588.50
3373.50
3786.10
4223.00
4955.80
6224.00
7079.80
7903.60
9402.30
10456.80
10581.70
7888.20
10729.90
8055.30
7.30%-24.93%AOCI
$45.50
69.40
66.20
-287.00
-581.10
-335.70
-463.10
-372.40
-161.90
-191.90
-493.20
-59.30
-444.20
-185.40
58.26%Shareholder's Equity
$2503.50
2717.40
2491.30
2820.50
4944.40
5505.80
6830.00
6971.40
7567.00
9359.70
10273.40
10096.60
7875.00
10341.50
7959.60
10.02%-23.03%Liabilities & Equity
$6136.60
6795.00
6965.90
7301.80
14221.70
14247.00
16568.00
16185.30
18046.40
20071.70
20385.40
20155.10
16725.10
20200.00
16531.00
8.71%-18.16%Net Income/Loss
$533.10
584.80
575.40
512.60
438.00
733.20
1274.00
883.90
824.90
1557.00
2379.50
1280.60
419.20
228.30
-1.98%Depreciation & Amortization
$231.40
229.80
230.10
245.50
457.80
499.20
533.20
552.10
577.20
624.70
745.10
633.90
577.30
154.50
7.92%Increase/Decrease in Working Capital
$111.70
-17.80
74.50
76.20
28.50
214.40
-42.50
70.30
132.10
903.90
339.60
585.10
440.00
468.30
12.10%Share-based Compensation
$48.90
40.70
37.30
45.70
102.10
109.60
109.70
91.60
107.00
111.70
153.70
144.10
128.70
31.60
8.40%Adjustments to Reconcile Net Income
$322.50
256.60
243.30
226.40
544.40
442.70
185.40
421.50
619.80
578.30
730.10
675.30
908.50
-258.10
9.01%Net Cash (Operating)
$855.60
841.40
818.70
739.00
982.40
1175.90
1459.40
1305.40
1444.70
2135.30
3109.60
1955.90
1327.70
-29.80
3.73%Capital Expenditure
$279.30
531.30
359.60
350.10
3994.90
795.70
2228.70
466.10
1296.00
647.30
897.80
1659.00
1153.50
406.60
12.55%Net Cash (Investing)
$-280.30
-534.20
-359.60
-350.10
-3994.90
-795.70
-2228.70
206.70
-1283.10
-643.20
-884.60
-1652.20
-1171.50
-393.10
Increase/Decrease in Debt
$184.10
440.00
349.60
-1.40
3395.70
-463.10
1442.20
-409.30
210.10
-412.20
-375.00
-300.00
42.40
Increase/Decrease in Equity
$-647.50
-525.40
-1024.90
-293.10
-36.70
-43.90
-353.40
-700.00
-461.60
-100.00
-1668.50
-1100.00
-1000.00
Dividends Paid
$7.40
1.20
0.90
1.20
2.10
1.00
6.40
195.20
254.00
62.10
34.27%Net Cash (Financing)
$-645.00
-0.80
-518.30
-200.60
3184.60
-649.80
631.90
-1389.90
-252.70
-517.40
-2065.80
-1322.20
-59.30
-11.70
Effect of Exchange Rate
$-1.70
1.10
-3.60
-12.30
-35.70
-13.20
20.50
-12.00
1.80
8.60
-7.30
-24.20
9.90
-2.90
Increase/Decrease in Cash
$-71.40
307.50
-62.80
176.00
136.40
-282.80
-116.90
110.20
-89.30
983.30
151.90
-1042.70
106.80
-437.50
Cash (Beginning)
$230.70
159.30
466.80
404.00
580.00
716.40
433.60
536.80
Cash (Ending)
$159.30
466.80
404.00
580.00
716.40
433.60
316.70
99.30
NOPAT
$583.76
633.92
622.72
564.50
600.01
870.42
1531.40
923.90
993.11
1715.78
2480.64
1435.40
500.53
261.83
246.65
-1.27%-5.80%Gross Margin %
41.04%
39.67%
38.28%
36.65%
33.45%
32.99%
33.18%
28.03%
28.15%
35.43%
34.89%
29.48%
27.67%
25.80%
28.25%
Operating Margin %
17.11%
18.05%
17.06%
15.14%
11.55%
13.61%
13.07%
11.70%
11.51%
17.49%
20.22%
11.92%
5.97%
9.03%
10.11%
NOPAT Margin %
10.53%
11.18%
10.72%
9.39%
6.91%
9.03%
14.67%
8.15%
8.59%
12.27%
15.39%
9.65%
4.12%
6.93%
7.76%
Net Margin %
9.38%
10.28%
9.88%
8.50%
5.03%
7.59%
12.15%
7.80%
7.13%
11.13%
14.75%
8.60%
3.44%
5.64%
7.18%
Tax Rate %
38.45%
38.06%
37.16%
37.99%
40.17%
33.68%
-12.26%
30.31%
25.34%
29.84%
23.89%
19.08%
31.02%
23.22%
23.23%
ROA
9.51%
9.33%
8.94%
7.73%
4.22%
6.11%
9.24%
5.71%
5.50%
8.55%
12.17%
7.12%
2.99%
1.30%
1.49%
ROE
23.32%
23.33%
25.00%
20.01%
12.14%
15.81%
22.42%
13.25%
13.12%
18.33%
24.15%
14.22%
6.36%
2.53%
3.10%
ROIC
11.08%
10.51%
10.18%
8.78%
4.78%
6.89%
10.49%
6.69%
6.56%
10.28%
14.83%
8.80%
3.69%
2.18%
2.57%
Asset Turnover
0.90
0.83
0.83
0.82
0.61
0.68
0.63
0.70
0.64
0.70
0.79
0.74
0.73
0.19
0.19
Inventory Turnover
29.49
28.28
26.26
27.30
30.25
31.49
30.66
34.37
33.93
21.33
26.15
22.29
18.53
5.82
4.80
Equity Multiplier
2.45
2.50
2.80
2.59
2.88
2.59
2.43
2.32
2.38
2.14
1.98
2.00
2.12
1.95
2.08
Current Ratio
1.36
1.35
1.95
1.73
1.57
1.36
1.31
1.51
1.12
1.66
1.92
1.50
1.17
1.63
0.88
Quick Ratio
1.08
1.15
1.62
1.43
1.14
0.96
0.88
1.01
0.71
1.23
1.34
0.86
0.76
0.81
0.53
Debt/Equity Ratio
0.89
0.98
1.20
1.07
1.30
1.06
0.99
0.87
0.15
0.63
0.54
0.51
0.53
0.50
0.39
Working Capital/Sales
0.07
0.15
0.14
0.18
0.15
0.11
0.09
0.07
0.05
0.16
0.14
0.09
0.09
Dividend Payout Ratio %
1.27%
0.19%
0.14%
0.21%
0.24%
0.07%
0.69%
13.60%
50.75%
25.18%
Total Payout
$470.80
86.60
676.20
295.70
-3359.00
509.10
-1087.80
1115.70
251.50
512.20
2043.50
1295.20
1554.00
19.70
10.46%Payout Ratio %
80.65%
13.66%
108.59%
52.38%
-559.82%
58.49%
-71.03%
120.76%
25.32%
29.85%
82.38%
90.23%
310.47%
7.99%