TORVANTA
Health Care · S&P 500 · data as of 2026-10-05

DGX stock analysis: Quest Diagnostics

Quest Diagnostics (DGX) is an S&P 500 company in Health Care Services.

The model's view of DGX · subscribers

Where DGX ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with DGX · updated 2026-10-05 · from prices and SEC filings

DGX price performance

DGX against the S&P 500, one year
+0%+20%DGX +25%S&P 500 +18%2025-09-292026-10-05
Year to date+35.5%S&P 500 +14.5% · ahead by 21.0 pts
1 year+31.2%S&P 500 +17.0% · ahead by 14.1 pts
3 years+99.1%S&P 500 +89.3% · ahead by 9.8 pts
5 years+80.5%S&P 500 +91.3% · behind by 10.8 pts

Total returns with dividends reinvested.

DGX factor grades

Each grade compares DGX with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

B-ValueP/E 24.7x (industry 22.9x)FCF yield 5.3% (industry 10.6%)
C+GrowthRevenue growth +10% (industry +7%)EPS growth +13% (industry +20%)
CProfitabilityOperating margin 14.1% (industry 10.4%)ROIC 10.0% (industry 10.2%)
BMomentum12-month change +31%From 52-wk high -6%

DGX key statistics

SectorHealth Care
IndustryHealth Care Services
IndexS&P 500
Market value$25.6B
Revenue growth (y/y)+10%
Free-cash-flow yield5.3%
Dividend yield1.1%
Next earnings (expected)2026-10-20
Valuation measures
Market value$25.6B
Enterprise value$30.6B
P/E (trailing)24.7x
Forward P/E (Torvanta estimate)22.9x
PEG (Torvanta estimate)2.93
Price / sales2.2x
Price / book3.4x
EV / revenue2.7x
EV / EBITDA13.9x
Financial highlights
Revenue, last 12 months$11.6B
Net income, last 12 months$1.1B
EPS, last 12 months (GAAP)$9.42
Gross margin33.1%
Operating margin14.1%
Net margin9.2%
Return on equity14.4%
Return on invested capital10.0%
Cash$626.0M
Total debt$5.6B
Debt / equity0.75x
Free cash flow, last 12 months$1.3B
Current ratio1.59x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

DGX earnings trends

Revenue vs earnings
$0$760.8M$1.5B$2.3B$3.0BSep 2024 Revenue: $2.5BDec 2024 Revenue: $2.6BMar 2025 Revenue: $2.7BJun 2025 Revenue: $2.8BSep 2025 Revenue: $2.8BDec 2025 Revenue: $2.8BMar 2026 Revenue: $2.9BJun 2026 Revenue: $3.0BSep 2024 Net income: $226.0MDec 2024 Net income: $222.0MMar 2025 Net income: $220.0MJun 2025 Net income: $282.0MSep 2025 Net income: $245.0MDec 2025 Net income: $245.0MMar 2026 Net income: $252.0MJun 2026 Net income: $320.0MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 9.1%Net margin: 8.5%Net margin: 8.3%Net margin: 10.2%Net margin: 8.7%Net margin: 8.7%Net margin: 8.7%Net margin: 10.5%0%5%11%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.7$1.4$2.1$2.8Sep 2024 EPS (GAAP, diluted): $2.0Dec 2024 EPS (GAAP, diluted): $2.0Mar 2025 EPS (GAAP, diluted): $1.9Jun 2025 EPS (GAAP, diluted): $2.5Sep 2025 EPS (GAAP, diluted): $2.2Dec 2025 EPS (GAAP, diluted): $2.2Mar 2026 EPS (GAAP, diluted): $2.2Jun 2026 EPS (GAAP, diluted): $2.8Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +9% · Dec 2025 +12% · Mar 2026 +15% · Jun 2026 +15%

From the company's 10-Q and 10-K filings with the SEC.

Quest Diagnostics financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$10.8B$9.9B$9.3B$9.9B$11.0B
Net income$2.0B$946.0M$854.0M$871.0M$1.0B
EPS (GAAP)$15.58$7.97$7.49$7.69$8.75
Free cash flow$1.8B$1.3B$864.0M$909.0M$1.4B

DGX earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-23$2.84+15%+10%+9.7%
2026-04-21$2.24+15%+9%+3.6%
2026-02-10$2.18+12%+7%+9.7%
2026-01-12$2.18+12%+7%+3.7%
2025-10-21$2.16+9%+13%-4.3%
2025-07-22$2.47+22%+15%+1.6%

About Quest Diagnostics

HeadquartersSecaucus, NJ
Industry (SEC code)Services-Medical Laboratories
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyCORNING CLINICAL LABORATORIES INC

From the company's SEC registration record.

Companies similar to DGX

CompanyMarket valueP/ERevenue growthOperating margin12-month change
DGX Quest Diagnostics$25.6B24.7x+10%14.1%+31%
LH Labcorp$25.0B25.5x+6%10.4%+13%compare
DVA DaVita$11.4B14.7x+6%15.2%+36%compare
CI Cigna$71.7B11.2x+8%3.5%-11%compare
CVS CVS Health$111.3B22.9x+7%2.0%+16%

All Health Care stock ratings

Frequently asked questions

Is DGX stock a buy?

Torvanta does not tell individuals what to buy. Its grades for DGX are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is DGX's P/E ratio?

DGX trades at about 24.7 times its last 12 months of GAAP earnings reported to the SEC, and about 22.9 times Torvanta's own estimate of the next 12 months.

When does DGX report earnings next?

Based on its filing history, Torvanta expects Quest Diagnostics to report around 2026-10-20.

Does DGX pay a dividend?

Yes. Its dividend yield is about 1.1%, and it has raised its dividend 14 years in a row.

How has DGX performed against the S&P 500?

Over the past year DGX returned +31.2%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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