DG
Quest Diagnostics Inc
DGX—
Quest Diagnostics Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 8.9B is 123% of equity (7.3B) - tangible book value is negative (-3.3B), creating material impairment risk if acquisitions underperform.[Goodwill]
- Operating margin TTM of 14.1% vs industry median 2.0% - 7x advantage reflects lab scale economics and pricing power in fragmented market.[Operating Margin TTM]
- FCF TTM of 1.4B (12.8% margin) funds 3.15 dividend (37% payout) while debt/equity at 0.88 remains manageable vs 6.4B total debt.[Free Cash Flow TTM]
Watch Triggers
- Operating Margin TTM: Falls below 12% — Margin compression would signal pricing pressure or cost inflation eroding scale advantage.
- Total Revenue 5Y Growth: Turns negative — Would confirm volume decline thesis and accelerate multiple compression.
- Goodwill: Impairment charge announced — Would directly reduce equity and potentially breach debt covenants.
Bull Case
FCF yield of 7.0% (1.4B/19.9B market cap) with consistent dividend growth provides income floor. P/E of 20.7x vs industry 35.1x median offers relative value.
Free Cash Flow TTMPE RatioDividends Paid Per Share TTM
Scale moat: 10.9B revenue with 14% operating margins in fragmented industry creates acquisition optionality and pricing resilience.
Total Revenue TTMOperating Margin TTMEBITDA TTM
Bear Case
Negative 5Y EPS growth (-12.2%) and flat revenue (0.2% CAGR) signal structural decline, not cyclical weakness. No organic growth catalyst visible.
EPS Growth 5YTotal Revenue 5Y Growth
Goodwill at 123% of equity with negative tangible book (-3.3B) means any write-down directly impairs equity. 6.4B debt limits flexibility.
GoodwillTangible Book ValueTotal Debt
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
Margin stability will persist as lab consolidation continues, but revenue growth remains structurally capped at low single digits.
1-3yhigh
- 5Y revenue CAGR of 0.2% vs industry median 8%
- Operating leverage from fixed lab infrastructure
- Limited pricing power in commoditized routine tests
Total Revenue 5Y Growth: 0.2% TTMOperating Margin: 14.1% vs 2% medianEPS 5Y Growth: -12.2%
Valuation Context
Caveats
Public Strategies Rankings
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DGX Fundamentals
Health Care and Social Assistance → Ambulatory Health Care Services
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$21.41B | — | ||
$27.36B | — | ||
22 | — | ||
$10.85B | +13.7% | — | |
$8.52 | +14.5% | — | |
14.1% | +1.0% | — | |
8.93% | +0.1% | — | |
$1.39B | +36.2% | — | |
0.14 | +1.1% | — | |
Beta 5Y (Monthly) | unknown | — |
DGX Dividend History
89 dividends
2026
$0.800001/13/26$0.8000
2025
$3.150010/03/25$0.8000
07/07/25$0.8000
04/07/25$0.8000
01/14/25$0.7500
2024
$2.960010/04/24$0.7500
07/08/24$0.7500
04/05/24$0.7500
01/16/24$0.7100
2023
$2.790010/05/23$0.7100
07/10/23$0.7100
04/06/23$0.7100
01/17/23$0.6600
2022
$2.600010/03/22$0.6600
07/05/22$0.6600
04/05/22$0.6600
01/18/22$0.6200
2021
$2.420010/04/21$0.6200
07/06/21$0.6200
04/06/21$0.6200
01/19/21$0.5600
2020
$2.210010/05/20$0.5600
07/07/20$0.5600
04/06/20$0.5600
01/13/20$0.5300
2019
$2.120010/03/19$0.5300
07/05/19$0.5300
04/05/19$0.5300
01/14/19$0.5300
2018
$1.950010/04/18$0.5000
07/06/18$0.5000
04/03/18$0.5000
01/08/18$0.4500
2017
$1.800010/02/17$0.4500
07/06/17$0.4500
04/03/17$0.4500
01/06/17$0.4500
2016
$1.580009/30/16$0.4000
07/01/16$0.4000
04/04/16$0.4000
01/08/16$0.3800
2015
$1.470010/02/15$0.3800
07/06/15$0.3800
04/06/15$0.3800
01/09/15$0.3300
2014
$1.290010/03/14$0.3300
07/07/14$0.3300
04/04/14$0.3300
01/03/14$0.3000
2013
$1.200009/27/13$0.3000
06/28/13$0.3000
03/28/13$0.3000
01/09/13$0.3000
2012
$0.680009/27/12$0.1700
06/29/12$0.1700
03/30/12$0.1700
01/05/12$0.1700
2011
$0.400010/05/11$0.1000
06/30/11$0.1000
04/01/11$0.1000
01/06/11$0.1000
2010
$0.400009/30/10$0.1000
07/01/10$0.1000
04/01/10$0.1000
01/05/10$0.1000
2009
$0.400009/30/09$0.1000
07/01/09$0.1000
04/02/09$0.1000
01/07/09$0.1000
2008
$0.400010/01/08$0.1000
07/01/08$0.1000
04/02/08$0.1000
01/07/08$0.1000
2007
$0.400010/01/07$0.1000
07/02/07$0.1000
04/02/07$0.1000
01/08/07$0.1000
2006
$0.390010/02/06$0.1000
07/05/06$0.1000
04/03/06$0.1000
01/09/06$0.0900
2005
$0.345010/03/05$0.0900
07/06/05$0.0900
04/04/05$0.0900
01/07/05$0.0750
2004
$0.375010/06/04$0.0750
07/02/04$0.0750
04/05/04$0.0750
01/06/04$0.1500
DGX Stock Splits
2 stock splits
06/21/050.5:1 split
06/01/010.5:1 split
DGX SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/21/25 | 09/30/25 | 10-Q | |
07/23/25 | 06/30/25 | 10-Q | |
04/23/25 | 03/31/25 | 10-Q | |
02/20/25 | 12/31/24 | Unknown | |
10/23/24 | 09/30/24 | 10-Q | |
07/24/24 | 06/30/24 | 10-Q | |
04/24/24 | 03/31/24 | 10-Q | |
02/22/24 | 12/31/23 | 10-K | |
10/25/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/28/23 | 03/31/23 | 10-Q | |
02/21/23 | 12/31/22 | 10-K | |
10/21/22 | 09/30/22 | 10-Q | |
07/22/22 | 06/30/22 | 10-Q | |
04/22/22 | 03/31/22 | 10-Q | |
02/28/22 | 12/31/21 | 10-K | |
10/22/21 | 09/30/21 | 10-Q | |
07/23/21 | 06/30/21 | 10-Q | |
04/23/21 | 03/31/21 | 10-Q | |
02/22/21 | 12/31/20 | 10-K | |
10/23/20 | 09/30/20 | 10-Q | |
07/24/20 | 06/30/20 | 10-Q | |
05/04/20 | 03/31/20 | 10-Q | |
02/20/20 | 12/31/19 | 10-K | |
10/23/19 | 09/30/19 | 10-Q | |
07/24/19 | 06/30/19 | 10-Q | |
04/24/19 | 03/31/19 | 10-Q | |
02/21/19 | 12/31/18 | 10-K | |
10/24/18 | 09/30/18 | 10-Q | |
07/25/18 | 06/30/18 | 10-Q | |
04/20/18 | 03/31/18 | 10-Q | |
02/23/18 | 12/31/17 | 10-K | |
10/19/17 | 09/30/17 | 10-Q | |
07/25/17 | 06/30/17 | 10-Q | |
04/21/17 | 03/31/17 | 10-Q | |
02/22/17 | 12/31/16 | 10-K | |
10/21/16 | 09/30/16 | 10-Q | |
07/25/16 | 06/30/16 | 10-Q | |
04/27/16 | 03/31/16 | 10-Q | |
02/26/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
02/24/15 | 12/31/14 | 10-K | |
10/30/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
05/01/14 | 03/31/14 | 10-Q | |
02/18/14 | 12/31/13 | 10-K | |
10/24/13 | 09/30/13 | 10-Q | |
07/25/13 | 06/30/13 | 10-Q | |
04/24/13 | 03/31/13 | 10-Q | |
02/27/13 | 12/31/12 | 10-K | |
10/24/12 | 09/30/12 | 10-Q | |
07/26/12 | 06/30/12 | 10-Q | |
04/27/12 | 03/31/12 | 10-Q | |
02/16/12 | 12/31/11 | 10-K | |
11/03/11 | 09/30/11 | 10-Q | |
07/27/11 | 06/30/11 | 10-Q | |
05/10/11 | 03/31/11 | 10-Q | |
02/16/11 | 12/31/10 | 10-K | |
11/03/11 | 09/30/10 | 10-Q | |
07/27/10 | 06/30/10 | 10-Q | |
04/26/10 | 03/31/10 | 10-Q | |
02/17/10 | 12/31/09 | 10-K | |
10/26/10 | 09/30/09 | 10-Q | |
10/27/09 | 09/30/09 | 10-Q | |
07/28/09 | 06/30/09 | 10-Q | |
04/24/09 | 03/30/09 | 10-Q | |
02/17/09 | 12/31/08 | 10-K | |
10/23/08 | 09/30/08 | 10-Q | |
07/24/08 | 06/30/08 | 10-Q | |
04/24/08 | 03/30/08 | Unknown | -- |
02/22/08 | 12/31/07 | 10-K | |
10/25/07 | 09/30/07 | 10-Q | |
07/31/07 | 06/30/07 | 10-Q | |
04/30/07 | 03/30/07 | Unknown | -- |
03/01/07 | 12/31/06 | 10-K | |
10/27/06 | 09/30/06 | 8-K | |
07/31/06 | 06/30/06 | 10-Q | |
04/28/06 | 03/30/06 | Unknown | -- |
02/28/06 | 12/31/05 | 10-K | |
10/28/05 | 09/30/05 | 10-Q | |
07/28/05 | 06/30/05 | 10-Q | |
04/29/05 | 03/30/05 | Unknown | -- |
03/10/05 | 12/31/04 | 10-K | |
10/29/04 | 09/30/04 | 10-Q | |
07/30/04 | 06/30/04 | 10-Q | |
04/30/04 | 03/30/04 | Unknown | -- |
02/27/04 | 12/31/03 | 10-K | |
10/31/03 | 09/30/03 | 10-Q | |
07/31/03 | 06/30/03 | 10-Q | |
04/30/03 | 03/30/03 | Unknown | -- |
02/28/03 | 12/31/02 | 10-K | |
10/31/02 | 09/30/02 | 10-Q | |
08/13/02 | 06/30/02 | 10-Q | |
05/13/02 | 03/30/02 | Unknown | -- |
03/04/02 | 12/31/01 | 10-K405 | |
10/31/01 | 09/30/01 | 10-Q | |
08/09/01 | 06/30/01 | 10-Q | |
05/03/01 | 03/30/01 | Unknown | -- |
04/02/01 | 12/31/00 | 10-K | |
11/14/00 | 09/30/00 | 10-Q | |
08/03/00 | 06/30/00 | 10-Q | |
04/27/00 | 03/30/00 | Unknown | -- |