Labcorp Holdings Inc. (LH)

NYSE: LH · USD

$360

+28.91 (+8.7%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-07

Our latest published analysis: LH rated Reduce

Labcorp Holdings Inc.'s published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$264 / share

Potential value

$335 / share

Upside to FV

-15.3%

from $360

Moat

7.2/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$25.3B
Revenue (ttm)	14.6B
Net income (ttm)	1B
EPS (ttm)	$12.2
Shares out	81.1M
P/E (trailing)	29.6x
P/E (forward)	16.2x
Dividend	$2.88 (0.80%)
Volume	1,610,966
Beta	0.85

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 14.6B
Net income (ttm): 1B
EPS (ttm): $12.2
P/E (trailing): 29.6x
P/E (forward): 16.2x
Market cap: $25.3B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$13.14B	$11.86B	$12.16B	$13.01B	$13.95B	+1.5%
Gross profit	$4.99B	$3.71B	$3.36B	$3.62B	$4.01B	-5.3%
Operating income	$3.05B	$1.44B	$725.6M	$1.09B	$1.38B	-17.9%
Net income	$2.38B	$1.28B	$418.0M	$746.0M	$876.5M	-22.1%
EPS (diluted)	$24.39	$13.97	$4.77	$8.84	$10.46	-19.1%
EBITDA	$3.68B	$1.95B	$1.35B	$1.81B	$2.01B	-14.0%
R&D	—	—	$2.0M	—	—	—
SG&A	$1.69B	$1.76B	$2.02B	$2.23B	$2.22B	+7.0%

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ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	强力买入
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ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	减持
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	减持

Base and Bull scenarios

Base60%

Price target

$263.85

-15.4% from spot

In the base case modal path, Labcorp compounds revenue at 5.72% in FY2026 ($14,749.3M) and 4.95% in FY2027 ($15,479.5M), before tapering toward 4.2% across the forecast horizon. Consolidated operating margin expands moderately from 9.92% in FY2025 to 10.44% in FY2026 and 11.66% by FY2030. High free cash flow conversion ($1,206.0M in FY2025) supports ongoing share repurchases and debt service, yielding an intrinsic fair value of $263.85.

Revenue growth follows explicit forecast schedule: 5.72% in FY2026, 4.95% in FY2027, 4.80% in FY2028, 4.50% in FY2029, and 4.20% in FY2030
Operating margin normalizes from 10.44% in FY2026 to 11.66% in FY2030
Effective tax rate holds at management guidance of 23.0%
WACC of 8.0711% and terminal growth rate of 2.50%
Terminal P/E multiple of 16.5x

Bull20%

Price target

$335.23

+7.5% from spot

In the bull scenario, high-complexity testing volume accelerates across oncology, women's health, and neurology, while direct-to-consumer testing through Labcorp OnDemand sustains double-digit expansion with upfront payment collection. Biopharma Laboratory Services achieves substantial operating leverage as Central Labs trial volumes expand and Early Development restructuring takes hold. Consolidated operating margins expand toward 11.8% to 12.0%, supporting valuation toward the high end of intrinsic value at $335.23.

Enterprise revenue growth compounds at the high end of guidance (6.0% to 6.5%)
Biopharma Laboratory Services operating margin expands by more than 150 basis points annually
Diagnostics organic volume growth sustains at or above 3.5% annually
Share repurchases continue to retire shares at approximately 0.8% annually

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($263.85). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.0%	$283	$289	$296	$304	$312
8.5%	$268	$273	$279	$285	$292
9.0%	$255	$259	$264	$269	$275
9.5%	$244	$247	$251	$255	$260
10.0%	$234	$237	$240	$244	$248

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E16.2

P25 n/aP50 n/aP75 n/a

Trailing P/E25.5

P25 n/aP50 n/aP75 n/a

ROE11.4

P25 n/aP50 n/aP75 n/a

ROIC8.7

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All LH indicators

Market & fundamental data

Available fields

291

Groups with data

Currency

USD

Showing 291 of 291 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000920148
Company name	Labcorp Holdings Inc.
Country	United States
Country code	US
CUSIP number	504922105
Earnings date	2026-10-28
Earnings time	bmo
Employees	71,000
Employees change	1,000
Employees growth	1.43%
Enterprise value	$35.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1971
In index	SP500
Industry	Diagnostics & Research
Is primary listing	Yes
Is SPAC	No
ISIN number	US5049221055
Last 10-K release date	2026-02-24
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Last stock split date	2002-05-13
Last stock split type	Forward
Market cap	$29.2B
Market cap category	Large-Cap
Next earnings date	2027-02-16
Options	Yes
Price	$360.09
Price currency	USD
Sector	Healthcare
SIC code	8071
Stock price date	2026-10-28
Symbol	LH
U.S. state	North Carolina
Website	https://www.labcorp.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	19.91x
Average P/E ratio (10Y)	22.06x
Average P/E ratio (3Y)	31.15x
Average P/E ratio (5Y)	25.44x
Earnings yield	3.38%
EV/Earnings	35.99x
EV/EBIT	22.12x
EV/EBITDA	15.4x
EV/FCF	28.08x
EV/Sales	2.48x
FCF / EV yield	3.56%
FCF yield	4.34%
Forward EV/Sales	2.37x
Forward P/E	18.58x
Forward P/S	1.94x
Graham number	172.80106
Graham upside	-52.69%
Industry forward P/E	30.87x
Industry P/E	50.24x
Lynch fair value	$60.90
Lynch upside	-83.33%
P/(FCF - SBC) ratio	25.54x
P/(OCF - SBC) ratio	17.55x
P/B ratio	3.04x
P/E ratio	29.57x
P/FCF ratio	23.02x
P/OCF ratio	16.32x
P/S ratio	2.03x
PEG ratio	1.83x
Price/EBITDA ratio	12.62x
Sector forward P/E	23.56x
Sector P/E	50.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	11.19%
EBITDA margin	16.08%
Effective tax rate	17.93%
FCF margin	8.82%
Gross margin	28.96%
Operating margin	11.19%
Pretax margin	8.39%
Profit margin	6.88%
Profit per employee	$14,141
Profitable quarters	10
Profitable years	28
Revenue per employee	$205,556
ROA	5.49%
ROA (5Y)	5.62%
ROCE	10.14%
ROE	11.44%
ROE (5Y)	11.24%
ROIC	8.74%
ROIC (5Y)	9.02%
SBC / revenue	0.87%
Tax / revenue	1.5%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	19.56%
EPS growth (Q)	3.21%
EPS growth (QoQ)	-11.54%
EPS growth 10Y	6.79%
EPS growth 3Y	17.7%
EPS growth 5Y	-15.45%
EPS growth quarters	5
EPS growth years	2
FCF growth	-6.8%
FCF growth (Q)	46.95%
FCF growth (QoQ)	31.32%
FCF growth 3Y	8.35%
FCF growth 5Y	-14.26%
Gross profit growth	7.96%
Gross profit growth (Q)	8.1%
Gross profit growth 3Y	8.15%
Gross profit growth 5Y	-7.24%
Net income growth	17.4%
Net income growth (Q)	0.65%
Net income growth (QoQ)	-12.02%
Net income growth 3Y	14.94%
Net income growth 5Y	-18.33%
Net income growth quarters	5
Net income growth years	2
OCF growth	0.64%
OCF growth (Q)	45.61%
OCF growth (QoQ)	26.55%
OCF growth 10Y	5.03%
OCF growth 3Y	9.11%
OCF growth 5Y	-10.65%
Operating income growth	19.68%
Operating income growth (Q)	3.67%
Operating income growth 3Y	11.06%
Operating income growth 5Y	-16.43%
Revenue growth	6.02%
Revenue growth (Q)	6.92%
Revenue growth (QoQ)	2.11%
Revenue growth 10Y	4.62%
Revenue growth 3Y	6.57%
Revenue growth 5Y	-2.49%
Revenue growth quarters	13
Revenue growth years	3

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-528.1M
Depreciation and amortization	$713.8M
EBIT	$1.6B
EBITDA	$2.3B
EPS	$12.18
FCF per share	$15.87
Financing cash flow	$-639.8M
Free cash flow	$1.3B
Free cash flow minus SBC	$1.2B
Gross profit	$4.2B
Income taxes	$219.6M
Investing cash flow	$-1.5B
Net borrowing	$250M
Net cash flow	$-336.3M
Net income	$1B
Operating cash flow minus SBC	$1.7B
Operating income	$1.6B
Revenue	$14.6B
Stock-based compensation	$127.1M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$108.96
Debt / EBITDA	2.56
Debt / equity	0.76
Debt / FCF	5.27
Goodwill	$7.2B
Interest coverage	7.09
Long-term assets	$15B
Long-term liabilities	$7.2B
Net cash (debt)	$-6.5B
Net cash / market cap	-21.99%
Net debt / EBITDA	2.78
Net debt / equity	0.73
Net debt / FCF	5.06
Piotroski F-Score	6
Property, plant and equipment	$3.1B
Shareholders' equity	$8.9B
Tangible book value	$-2B
Tangible book value per share	$-25.20
Total assets	$18.9B
Total cash	$261.8M
Total debt	$6.8B
Total liabilities	$10.1B
WACC	7.77%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.78
Current assets	$4B
Current liabilities	$2.8B
Current ratio	1.41
Inventory turnover	19.56
Net working capital	$1.7B
Quick ratio	1
Working capital	$1.1B
Working capital turnover	11.24

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.96%
Dividend growth	0%
Dividend growth (10Y)	14.87%
Dividend growth (3Y)	0%
Dividend growth (5Y)	31.95%
Dividend growth years	0
Dividend payment date	2026-12-11
Dividend payment years	5
Dividend payout frequency	Quarterly
Dividend per share	$2.88
Dividend yield	0.8%
Ex-dividend date	2026-11-24
FCF payout ratio	20.22%
Last dividend	$0.72
Payout ratio	23.85%
Shareholder yield	2.75%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	191.91%
10Y return CAGR	13.62%
10Y total return	258.34%
150-day SMA	$290.80
15Y price change	322.98%
15Y return CAGR	11.61%
15Y total return	419.24%
1D price change	8.73%
1M price change	16.85%
1M total return	16.85%
1W price change	11.97%
1W total return	11.97%
1Y price change	31.26%
1Y return CAGR	32.61%
1Y total return	32.58%
20-day SMA	$320.44
200-day SMA	$286.49
20Y price change	430.92%
20Y return CAGR	9.83%
20Y total return	551.74%
3M price change	20.14%
3M total return	20.4%
3Y price change	81.86%
3Y return CAGR	23.48%
3Y total return	88.32%
50-day SMA	$321.93
50-day SMA vs 200-day SMA	50over200
52-week high	$371.00
52-week high date	2026-10-28
52-week low	$244.52
52-week low date	2025-11-07
5Y price change	29%
5Y return CAGR	9.63%
5Y total return	58.35%
6M price change	37.35%
6M total return	38.02%
All-time high	$371.00
All-time high date	2026-10-28
All-time low	$2.81
All-time low date	1998-08-31
Average true range (ATR)	$9.53
Average volume	663.7K
Beta (1Y)	-0.02
Beta (2Y)	0.35
Beta (5Y)	0.85
Change from 52-week high	-2.94%
Change from 52-week low	47.26%
Change from all-time high	-2.47%
Change from all-time low	12,762.42%
Change from open	5.17%
Day's gap	3.39%
Dollar volume	$580.1M
High price	$370.50
Low price	$342.40
Monthly RSI	68.04
Open price	$342.40
Position in 52-week range	62.95%
Premarket change	1.31%
Premarket close	$331.17
Premarket price	$335.50
Premarket volume	504
Previous close	$331.17
Price vs 150-day SMA	24.42%
Price vs 20-day SMA	12.91%
Price vs 200-day SMA	26.29%
Price vs 50-day SMA	12.39%
Relative volume	2.43
RSI	80.49
Sharpe ratio	1.08
Sharpe ratio (3Y)	0.85
Sharpe ratio (5Y)	0.34
Sortino ratio	1.91
Sortino ratio (3Y)	1.58
Sortino ratio (5Y)	0.74
Volume	1.6M
Weekly RSI	74.36
YTD price change	44.22%
YTD total return	45.29%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	80.7M
Float percentage	99.53%
Shares change (QoQ)	-0.49%
Shares change (YoY)	-1.96%
Shares held by insiders	0.39%
Shares held by institutions	102.1%
Shares outstanding	81.1M
Short % of float	3.33%
Short % of shares	3.31%
Short ratio	3.3 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	115

Deeper analysis on LH

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this LH report

What is the latest published LH stock rating?

Labcorp Holdings Inc. is shown with Reduce in the latest published report, analyzed 2026-10-07. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full LH analysis?

The full latest published report, analyzed 2026-10-07, lives at /stocks/LH/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for LH?

The latest published report analyzed 2026-10-07 gives LH a fair value of USD 264 and a potential value of USD 335. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the LH page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-07). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

ReduceLH · Fair value $264-15.3%

Read full analysis →

Labcorp Holdings Inc. (LH)

Our latest published analysis: LH rated Reduce

Price

Financial snapshot

Fair-value bridge

Latest news · LH

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All LH indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on LH

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	3.0
Management	7.5
Balance Sheet	7.0
Profitability	5.0
Revenue Growth	6.0
Risk Assessment	6.5
Competitive Moat	7.2
Earnings Quality	9.0
Capital Efficiency	5.5