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Quest Diagnostics DGX Physician lab services — Total net revenues, percent

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Other financials

Income statement

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Revenue$2.9B+9.2%
Gross profit$942.0M+9.2%
Operating income$399.0M+15.3%
Net income$252.0M+14.5%
EPS (diluted)$2.24+15.5%

Balance sheet

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Cash & equivalents$393.0M+109%
Total debt$6.4B-2.5%
Total equity$7.4B+6.3%
Total assets$16.7B+5.5%

Cash flow

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Operating cash flow$278.0M-11.5%
CapEx$114.0M-2.6%
Free cash flow$164.0M-16.8%

Valuation

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Market cap$23.46B+20.8%
Enterprise value$29.48B+15.7%
P/E22.9×+2.5×
P/S2.1×+0.2×

Profitability

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Gross margin33.2%+0.4pp
Operating margin14.3%+0.6pp
Net margin9.1%+0.2pp
FCF margin11.8%+1.4pp

Returns & leverage

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Return on equity14.3%+0.9pp
Debt / equity0.9×-0.1×
Current ratio1.2×-0.3×

Where this comes from

Reported directly by Quest Diagnostics in its filing.

Tagged under the XBRL concept dgx:RevenueFromContractWithCustomerExcludingAssessedTaxPercent.

The official record: Quest Diagnostics’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Quest Diagnostics's physician lab services — total net revenues, percent?
Quest Diagnostics (DGX) reported physician lab services — total net revenues, percent of 17.8% in Q4 2025.
How has Quest Diagnostics's physician lab services — total net revenues, percent changed year-over-year?
Quest Diagnostics's physician lab services — total net revenues, percent increased by 4.4% year-over-year, from 17% to 17.8%.
What is the long-term trend for Quest Diagnostics's physician lab services — total net revenues, percent?
Over 4 years (2021 to 2025), Quest Diagnostics's physician lab services — total net revenues, percent has grown at a 0.7% compound annual growth rate (CAGR), from 69% to 71%.
What does physician lab services — total net revenues, percent mean?
This metric represents the proportion of total corporate net revenue generated specifically by the physician laboratory services segment. It measures the relative contribution of diagnostic testing services provided directly to physician offices and clinical practices compared to the company's total consolidated revenue. This indicator highlights the company's reliance on the outpatient physician channel as a primary driver of its diagnostic business model.