financial statements

The full income statement, balance sheet, and cash-flow statement for Labcorp Holdings Inc. (LH), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	14.0B YoY+7.2%	13.0B YoY+7.0%	12.2B YoY+2.5%	11.9B YoY-9.7%	13.1B YoY-6.0%
	4.01B YoY+10.7%	3.62B YoY+7.7%	3.36B YoY-9.3%	3.71B YoY-25.7%	4.99B YoY+0.8%
Cost of revenue	9.94B YoY+5.9%	9.38B YoY+6.7%	8.80B YoY+7.9%	8.15B YoY+0.1%	8.14B YoY-9.8%
Selling, general & administrative	2.22B YoY-0.6%	2.23B YoY+10.3%	2.02B YoY+14.7%	1.76B YoY+4.3%	1.69B YoY-2.3%
Restructuring	—	—	55.7M YoY-0.4%	55.9M YoY+26.2%	44.3M YoY+34.2%
Amortization of intangibles	280M YoY+9.2%	256M YoY+16.7%	220M YoY+13.5%	194M YoY-15.6%	230M YoY-16.7%
Provision for credit losses	4.30M YoY-70.5%	14.6M YoY+131.7%	6.30M YoY-46.2%	11.7M YoY+207.9%	3.80M YoY-45.7%
Operating income	1.38B YoY+27.4%	1.09B YoY+49.8%	726M YoY-49.5%	1.44B YoY-52.9%	3.05B YoY+24.7%
Interest expense	224M YoY+7.6%	208M YoY+4.4%	200M YoY+11.0%	180M YoY-15.1%	212M YoY+2.1%
Other non-operating income	-55.0M YoY-191.4%	60.2M YoY+288.4%	15.5M YoY+148.1%	-32.2M YoY-307.7%	15.5M YoY+148.3%
Equity-method income	-13.3M YoY-850.0%	-1.40M YoY+0.0%	-1.40M YoY-125.9%	5.40M YoY-79.6%	26.5M YoY+813.8%
Income tax	230M YoY+8.2%	212M YoY+12.7%	189M YoY-19.4%	234M YoY-66.1%	690M YoY+4.2%
	877M YoY+17.6%	746M YoY+78.5%	418M YoY-67.3%	1.28B YoY-46.2%	2.38B YoY+52.8%
Discontinued operations	0.00	0.00 YoY-100.0%	38.8M YoY-86.0%	277M YoY+52.3%	182M
Net income to non-controlling interest	1.20M YoY+9.1%	1.10M YoY-8.3%	1.20M YoY-20.0%	1.50M YoY-31.8%	2.20M YoY+144.4%
	$10.46 YoY+18.3%	$8.84 YoY+85.3%	$4.77 YoY-65.9%	$13.97 YoY-42.7%	$24.39 YoY+53.6%
EPS (basic)	$10.54 YoY+18.6%	$8.89 YoY+85.2%	$4.80 YoY-65.8%	$14.05 YoY-42.9%	$24.60 YoY+53.8%
Weighted-avg shares (basic)	83.2M YoY-0.8%	83.9M YoY-3.7%	87.1M YoY-4.4%	91.1M YoY-5.8%	96.7M YoY-0.6%
Weighted-avg shares (diluted)	83.8M YoY-0.7%	84.4M YoY-3.7%	87.6M YoY-4.4%	91.6M YoY-6.1%	97.5M YoY-0.5%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.02B YoY-16.4%	4.81B YoY+27.6%	3.77B YoY-18.6%	4.63B YoY-13.2%	5.33B YoY+4.0%
Cash & equivalents	532M YoY-65.0%	1.52B YoY+182.9%	537M YoY+67.4%	321M YoY-78.2%	1.47B YoY+11.5%
Accounts receivable	2.10B YoY+8.2%	1.94B YoY+1.6%	1.91B YoY+7.2%	1.79B YoY-21.0%	2.26B YoY-8.8%
Inventory	535M YoY+8.4%	493M YoY+3.9%	475M YoY+0.8%	471M YoY+17.2%	401M YoY-5.2%
Prepaid expenses	693M YoY-0.7%	698M YoY+6.5%	655M YoY+7.4%	610M YoY+27.7%	478M YoY+31.1%
	18.4B YoY+0.1%	18.4B YoY+9.9%	16.7B YoY-17.0%	20.2B YoY-1.1%	20.4B YoY+1.6%
Property, plant & equipment	3.08B YoY+1.2%	3.05B YoY+4.6%	2.91B YoY+4.2%	2.79B YoY-0.8%	2.82B YoY+3.1%
Operating lease right-of-use	804M YoY+2.5%	785M YoY+6.4%	737M YoY-0.1%	738M YoY-1.1%	746M YoY-5.5%
Goodwill	6.79B YoY+6.6%	6.37B YoY+3.7%	6.14B YoY+0.3%	6.12B YoY+4.0%	5.89B YoY-24.0%
Intangible assets	3.60B YoY+3.1%	3.49B YoY+4.4%	3.34B YoY+7.0%	3.12B YoY-16.4%	3.74B YoY-5.7%
Deferred tax assets	0.00	0.00	0.00 YoY-100.0%	6.40M YoY-70.4%	21.6M YoY+4.9%
Other non-current assets	751M YoY+15.2%	652M YoY+21.6%	537M YoY+41.8%	378M YoY-18.2%	463M YoY+12.8%
Total non-current assets	13.9B YoY+0.0%	13.9B YoY+0.0%	13.9B YoY+0.0%	13.9B YoY+0.0%	13.9B YoY+0.0%
	2.82B YoY-15.2%	3.33B YoY+3.3%	3.23B YoY+4.8%	3.08B YoY+10.6%	2.78B YoY-9.6%
Accounts payable	841M YoY-4.0%	876M YoY+5.8%	828M YoY-2.9%	852M YoY+37.2%	621M YoY-2.8%
Accrued liabilities	848M YoY-2.7%	871M YoY+8.4%	804M YoY+2.2%	787M YoY-43.9%	1.40B YoY+3.4%
Deferred revenue	439M YoY+12.0%	392M YoY-7.0%	422M YoY+35.8%	311M YoY-44.4%	559M YoY+10.3%
Short-term & current debt	500M YoY-50.0%	1.00B YoY+0.1%	1000M YoY+231.8%	301M YoY+19986.7%	1.50M YoY-99.6%
Current lease liability	191M YoY+3.5%	185M YoY+11.3%	166M YoY+1.2%	164M YoY-12.4%	187M YoY-2.6%
	9.76B YoY-5.4%	10.3B YoY+16.7%	8.83B YoY-12.0%	10.0B YoY-0.5%	10.1B YoY-4.9%
Long-term debt	5.08B YoY-4.6%	5.33B YoY+31.5%	4.05B YoY-19.5%	5.04B YoY-7.0%	5.42B YoY-0.0%
Deferred revenue (non-current)	2.50M YoY+0.0%	2.50M YoY+0.0%	2.50M YoY+0.0%	2.50M YoY+0.0%	2.50M YoY+0.0%
Non-current lease liability	683M YoY+0.9%	676M YoY+4.2%	649M YoY-0.6%	653M YoY+1.6%	643M YoY-5.2%
Other non-current liabilities	648M YoY+25.2%	517M YoY+26.4%	409M YoY+2.0%	401M YoY-0.2%	402M YoY-23.6%
Total non-current liabilities	7.66B YoY+0.0%	7.66B YoY+0.0%	7.66B YoY+0.0%	7.66B YoY+0.0%	7.66B YoY+0.0%
	8.62B YoY+7.0%	8.05B YoY+2.3%	7.88B YoY-22.0%	10.1B YoY-1.7%	10.3B YoY+8.9%
Common stock	7.50M YoY-1.3%	7.60M YoY-1.3%	7.70M YoY-4.9%	8.10M YoY-4.7%	8.50M YoY-5.6%
Additional paid-in capital	0.00 YoY-100.0%	2.80M YoY-92.7%	38.4M	0.00	0.00 YoY-100.0%
Retained earnings	8.64B YoY+4.1%	8.30B YoY+5.3%	7.89B YoY-25.5%	10.6B YoY+1.2%	10.5B YoY+10.3%
Treasury stock	0.00	0.00	0.00	0.00	0.00
Accumulated other comprehensive income	-27.6M YoY+89.4%	-262M YoY-341.1%	-59.3M YoY+88.0%	-493M YoY-157.0%	-192M YoY-18.5%
Non-controlling interest	20.2M YoY+0.0%	20.2M YoY+0.0%	20.2M YoY+0.0%	20.2M YoY+0.0%	20.2M YoY+0.0%
Total liabilities & equity	18.4B YoY+0.1%	18.4B YoY+9.9%	16.7B YoY-17.0%	20.2B YoY-1.1%	20.4B YoY+1.6%
Common shares issued	82.2M YoY-1.4%	83.4M YoY-0.6%	83.9M YoY-4.9%	88.2M YoY-5.3%	93.1M YoY-4.5%
Common shares outstanding	82.2M YoY-1.4%	83.4M YoY-0.6%	83.9M YoY-4.9%	88.2M YoY-5.3%	93.1M YoY-4.5%
Shares outstanding (cover)	82.9M YoY-0.9%	83.6M YoY-1.5%	84.9M YoY-4.2%	88.6M YoY-7.4%	95.7M YoY-1.7%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.64B YoY+3.4%	1.59B YoY+19.4%	1.33B YoY-32.1%	1.96B YoY-37.1%	3.11B YoY+45.6%
Depreciation & amortization	681M YoY+5.8%	644M YoY+11.5%	577M YoY+7.5%	537M YoY-6.9%	577M YoY-7.6%
Share-based compensation	126M YoY+7.8%	117M YoY-9.3%	129M YoY+10.2%	117M YoY-12.1%	133M YoY+19.0%
Deferred income taxes	97.6M YoY+585.6%	-20.1M YoY+74.3%	-78.1M YoY-429.5%	23.7M YoY+161.7%	-38.4M YoY+18.3%
Change in receivables	126M YoY+140.0%	52.3M YoY-49.6%	104M YoY+323.2%	-46.5M YoY+82.6%	-267M YoY-129.3%
Change in inventory	30.2M YoY+139.7%	12.6M YoY+1700.0%	700K YoY-98.5%	45.5M YoY+1725.0%	-2.80M YoY-101.4%
Change in payables	-52.8M YoY-173.2%	72.1M YoY+270.0%	-42.4M YoY-114.9%	285M YoY+5484.9%	-5.30M YoY+0.0%
Other operating activities	70.7M YoY+13.8%	62.1M YoY+59.6%	38.9M YoY+69.1%	23.0M YoY+167.4%	-34.1M YoY-140.9%
	-1.19B YoY+12.6%	-1.37B YoY-16.7%	-1.17B YoY+29.1%	-1.65B YoY-86.8%	-885M YoY-37.5%
Capital expenditure	435M YoY-11.3%	490M YoY+8.0%	454M YoY+5.7%	429M YoY+1.9%	422M YoY+10.4%
Acquisitions	582M YoY-30.6%	839M YoY+24.9%	672M YoY-42.3%	1.16B YoY+134.3%	497M YoY+85.7%
Purchases of investments	192M YoY+249.8%	55.0M YoY+89.7%	29.0M	—	—
Proceeds from sale of PP&E	8.00M YoY+300.0%	2.00M YoY+233.3%	600K YoY-57.1%	1.40M YoY-98.4%	87.3M YoY+107.4%
	-1.46B YoY-286.8%	780M YoY+1415.2%	-59.3M YoY+95.5%	-1.32B YoY+36.0%	-2.07B YoY-299.3%
Long-term debt issued	—	—	—	0.00 YoY-100.0%	1.00B
Common stock repurchased	450M YoY+79.9%	250M YoY-75.0%	1.00B YoY-9.1%	1.10B YoY-34.1%	1.67B YoY+1568.5%
Dividends paid	241M YoY-1.0%	243M YoY-4.3%	254M YoY+30.1%	195M	—
Other financing activities	-13.7M YoY+62.7%	-36.7M YoY-87.2%	-19.6M YoY+27.4%	-27.0M YoY-1.9%	-26.5M YoY+0.4%
FX effect on cash	24.1M YoY+241.8%	-17.0M YoY-271.7%	9.90M YoY+140.9%	-24.2M YoY-231.5%	-7.30M YoY-184.9%
Net change in cash	-986M YoY-200.5%	982M YoY+819.4%	107M YoY+110.2%	-1.04B YoY-786.4%	152M YoY-84.6%
Income taxes paid	171M YoY-20.6%	215M YoY+4.2%	207M YoY-56.5%	475M YoY-50.8%	965M YoY+92.9%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	20.8B YoY+8.4%	19.2B YoY-0.6%	19.3B YoY+7.7%	17.9B YoY-30.6%	25.8B YoY+51.7%
P/E	23.7× YoY-7.8%	25.7× YoY-15.6%	30.5× YoY+192.4%	10.4× YoY-4.2%	10.9× YoY-0.7%
P/S	1.5× YoY+1.1%	1.5× YoY-17.2%	1.8× YoY+4.8%	1.7× YoY-13.6%	2.0× YoY+61.4%
P/B	2.4× YoY+1.3%	2.4× YoY-6.9%	2.6× YoY+41.2%	1.8× YoY-27.9%	2.5× YoY+39.3%
P/FCF	17.2× YoY-1.5%	17.5× YoY-11.7%	19.8× YoY+68.9%	11.7× YoY+22.1%	9.6× YoY-1.1%
Earnings yield	4.2% YoY+8.4%	3.9% YoY+18.5%	3.3% YoY-65.8%	9.6% YoY+4.3%	9.2% YoY+0.7%
FCF yield	5.8% YoY+1.5%	5.7% YoY+13.2%	5.0% YoY-40.8%	8.5% YoY-18.1%	10.4% YoY+1.1%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: LH's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all LH filings on SEC EDGAR → Not investment advice.

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