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Quest Diagnostics Incorporated

DGX

Healthcare · 230.96 -1.9% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Quest Diagnostics Incorporated's current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 39 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.

What changed
  • Revenue increased 9.2% versus the comparable filing period.
Company-1.9% todayVolume comparison unavailable
Market group0 of 39 activeDiagnostics & Defense · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • Filing attributes approximately 9% of DIS volume growth to new Corewell relationship and increased testing at Fresenius Medical Care dialysis clinics.

Invalidation: The isolated read changes if DGX's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Diagnostics & Research

The latest filing evidence is available. 0 of 39 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 9.2% versus the comparable filing period.
  • Operating margin improved 0.7 percentage points.
Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Filing attributes approximately 9% of DIS volume growth to new Corewell relationship and increased testing at Fresenius Medical Care dialysis clinics.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements77
Verified relationships10
Evidence supporting the case
  • Latest annual revenue changed +11.8% year over year.
  • Operating cash flow covered net income at 1.90x in the latest annual period.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • EV/sales is 29% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

230.96
6m+15.2%12m+26.4%24m+49.8%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$10.8B+14.3%$15.55-5.9%
2022-12-31$9.9B-8.4%$7.97-7.8%
2023-12-31$9.3B-6.4%$7.49-4.2%
2024-12-31$9.9B+6.7%$7.69+0.0%
2025-12-31$11.0B+11.8%$8.75+0.0%

What management says matters

Persistent and emerging business drivers

Capital investment and capacitymixed · 5 filings
This $1.6 billion decrease in net cash used in investing activities for the nine months ended September 30, 2025, compared to the prior year period, was a result of decreased cash used for business acquisitions, partially offset by higher capital expenditures.
10-Q · Oct 21, 2025
Credit and interest ratesmixed · 5 filings
For the six months ended June 30, 2026, interest expense, net decreased by $8 million compared to the prior year period primarily due to lower interest rates associated with our indebtedness and the repayment in full of the outstanding indebtedness under our…
10-Q · Jul 23, 2026
Restructuring and cost reductionsnegative · 2 filings
Results for the nine months ended September 30, 2024 were affected by certain items that on a net basis decreased diluted earnings per share by $0.96 as follows: • pre-tax amortization expense of $90 million recorded in amortization of intangible assets, or $…
10-Q · Oct 21, 2025
Foreign exchangemixed · 1 filings
-tax charges of $6 million ($2 million recorded in cost of services, $2 million recorded in selling, general and administrative expenses and $2 million recorded in other operating (income) expense, net), or $0.04 per diluted share, including an increase in th…
10-K · Feb 26, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 2.4× · EV/sales 2.8×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

230.96-1.9% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for DGX. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-04-22 against the comparable filing from 2025-04-23.

constructive
OperationsconstructiveEvidence score +2
liquidityneutralEvidence score 0
valuationmixed

What improved

  • Revenue increased 9.2% versus the comparable filing period.
  • Operating margin improved 0.7 percentage points.

What weakened

No thresholded deterioration was identified.

Filing receipts

Revenue per requisition decreased by 1.3% compared to the prior year period primarily driven by the business mix associated with our new relationships with Corewell Health and Fresenius Medical Care, which include a greater proportion of routine tests than most of our clinical testing.

Excluding the Corewell Health and Fresenius Medical Care business mix impacts, revenue per requisition increased by approximately 2.5% primarily driven by an increase in the number of tests per requisition and favorable test mix.

DIS volume increased by 10.9% compared to the prior year period principally driven by organic growth of 10.8%, of which approximately 7% was due to both our new relationship with Corewell Health to provide Collaborative Lab Solutions and increasing our laboratory testing at dialysis clinics owned by Fresenius Medical Care in the United States.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind DGX

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

FMSFresenius Medical Care AGsupplierApr 22, 2026

DIS volume increased by 10.9% compared to the prior year period principally driven by organic growth of 10.8%, of which approximately 7% was due to both our new relationship with Corewell Health to provide Collaborative Lab Solutions and increasing our labora…

Depended on by

CAICaris Life Sciences, Inc.supplierMar 3, 2026

Other companies offering testing in the precision oncology industry include Illumina, NeoGenomics, Myriad Genetics, Laboratory Corporation of America, Quest Diagnostics, and BostonGene.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 9 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

DGX is currently a Follower in the organic co-movement group Diagnostics & Defense. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for DGX; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.