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Labcorp Holdings Business Segments

Business, geographic, and product segment breakdowns

Labcorp Holdings generates $14.1B in annual revenue across 2 key segments: Biopharma Laboratory Services (0.7), and Diagnostics (2). The company-wide operating margin is 10.18%. Based on the Q1 2026 filing.

Biopharma Laboratory Services (TTM)71.75%Diagnostics (TTM)204.5%
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$21.8B
P/E Ratio23.10
ROE11.05%

Geographic

Percent of Revenue Contributed

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
North America—87.0%87.0%87.0%—86.0%
Europe—9.0%9.0%9.0%—10.0%
Other countries—4.0%4.0%4.0%—4.0%

Property, plant, and equipment, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe$355.5M———$370.4M—
North America$2.6B———$2.6B—
Other countries$113.8M———$124M—

Percent of Domestic Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
UNITED STATES—84.1%———82.4%

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
UNITED STATES—$2.8B$2.9B$3B—$2.9B

Business Segments

Accounts Receivable, Allowance for Credit Loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Biopharma Laboratory Services$44.7M———$36.4M—

Accounts Receivable, before Allowance for Credit Loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$1.3B$1.4B$1.4B$1.4B$1.3B$1.5B
Biopharma Laboratory Services$729.5M$758.6M$750.1M$747M$791.2M$808.4M

Depreciation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$69.1M$61.7M$65.4M$66.4M$65.3M$63.8M
Biopharma Laboratory Services$29.6M$28.6M$29M$29M$29.4M$28.6M

Foreign currency impact and other adjustments to goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics-$25.5M——$27.3M—$28.1M
Biopharma Laboratory Services-$15.4M———$4.4M-$9M

Freight

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Biopharma Laboratory Services$94M$95M$98.2M$101.8M$103.8M$110.8M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$5.1B—$5.2B$5.3B$5.4B$5.6B
Biopharma Laboratory Services$1.3B—$1.4B$1.4B$1.4B$1.3B

Goodwill acquired, excluding measurement period adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$97.6M——$138.8M$107.9M$146.6M
Biopharma Laboratory Services$0——$0$0$0

Labor and Related Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$1.2B$1.1B$1.2B$1.2B$1.2B$1.2B
Biopharma Laboratory Services$296.1M$289.7M$302.3M$313.8M$315.8M$309.3M

Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$359.5M$427.5M$482.8M$450.4M$419.2M$458.7M
Biopharma Laboratory Services$130.7M$106.9M$123.3M$132.2M$136.1M$120.7M
Corporate Segment-$189.1M-$132.4M-$139.2M-$109.9M-$100.7M-$116.6M

Other Cost and Expense, Operating

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$426.7M$430.2M$454.2M$462.8M$446M$438M
Biopharma Laboratory Services$94.4M$90M$101.2M$102.8M$90.8M$89.7M

Percent of Revenue Contributed

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics—78.0%78.0%78.0%—78.0%
Biopharma Laboratory Services—22.0%22.0%22.0%—22.0%

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$2.6B$2.6B$2.7B$2.8B$2.7B$2.8B
Biopharma Laboratory Services$767M$721.3M$784.8M$799.1M$793M$780.6M

Supplies Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Diagnostics$566.8M$586.6M$591.3M$589.4M$589.7M$613.5M
Biopharma Laboratory Services$122.2M$111.1M$130.8M$119.5M$117.1M$121.5M