| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 47 | 24.9x | 17.8x | Around median | |
Growth | 58 | 9.9% | 7.1% | Around median | |
Quality | 68 | 9.5% | 4.5% | Top tier | |
Safety | 65 | 2.6x | 2.6x | Around median | |
Capital Return | 48 | 1.42% | 2.12% | Around median | |
Momentum | 87 | 28.4% | 2.9% | Top tier | |
Sentiment | 47 | 12 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Quest Diagnostics operates at the heart of the healthcare ecosystem by providing diagnostic testing and laboratory information to physicians, hospitals, and consumers, alongside higher-growth solutions in consumer health, life sciences, and data analytics. The company generates revenue from processing test requisitions, hospital reference testing, Co-Lab agreements, the questhealth.com platform, and advanced diagnostics in brain health, oncology, immunology, cardiology, metabolic health, and women’s health. In Q2 FY2026, the Corewell Health and Fresenius Medical Care relationships contributed 9% of requisition volume, while testing volumes grew 4.1% excluding them, illustrating the contribution of major partnerships alongside continued growth in the core business.
Q2 FY2026 revenue reached approximately $3.04 billion, up 10.2% year over year, while organic revenue grew 10%, total requisition volume increased 13.1%, and total organic volume rose 13%. According to EDGAR filings, gross profit was approximately $1.0 billion, net income was $320 million, and diluted earnings per share were $2.84, compared with reported earnings per share of $2.47 a year earlier. Reported operating income was $459 million, with a margin of 15.1% versus 15.9% a year earlier, while adjusted operating income was $502 million, with a margin of 16.5% versus 16.9%.
Growth came from a broad mix across channels; the physician channel delivered high-single-digit growth, hospital revenue grew at a double-digit rate driven primarily by the Corewell Health relationship, and hospital reference testing delivered mid-single-digit growth. questhealth.com recorded strong growth, several advanced diagnostic areas achieved double-digit growth, and the AD-Detect brain health portfolio continued to grow at a high-double-digit rate. For the year ended with the latest available period, EDGAR data showed revenue of $11.6 billion, gross profit of $3.8 billion, net income of $1.1 billion, and earnings per share of approximately $9.48.
The average analyst price target is $244.5, close to the upper end of the 52-week range of $247.19, while the target range extends from $225 to $260. The “Neutral” consensus reflects a balance between raised FY2026 guidance and strong volume growth on one hand, and Q2 margin contraction and reimbursement and PAMA risks on the other. The provided data do not include a valid comparable earnings multiple, so it is not possible to determine whether the stock is inexpensive or expensive based on the earnings multiple.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Revenue increased 10.2% to $3.04 billion, with organic growth of 10% and a 13.1% increase in total test requisition volume. The Corewell Health and Fresenius Medical Care relationships contributed 9% of volume, but volumes grew 4.1% even after excluding them. The physician channel also delivered high-single-digit growth, hospitals grew at a double-digit rate, and questhealth.com recorded strong demand for wellness panels and thyroid testing.
The company raised its expected revenue range to between $11.95 billion and $12.05 billion, representing growth of between 8.3% and 9.2%. It expects reported earnings per share of between $9.97 and $10.17 and adjusted earnings per share of between $11.05 and $11.25. It also targets operating cash flow of approximately $1.8 billion and capital expenditures of approximately $550 million, and the revenue guidance does not include any contribution from potential acquisitions.
Haystack MRD received New York State approval during Q2 FY2026, allowing commercial efforts for the test to expand to all fifty states. Quest integrated the test with Flatiron Health’s molecular test ordering platform and began a pilot with American Oncology Network. The company plans to make it available to 4,700 physicians within the Flatiron network later in FY2026, but it is tying the pace of commercial investment and volume growth to progress in insurance reimbursement.
Automated analysis for informational purposes only — not investment advice.
Net income according to EDGAR was approximately $320 million, and reported earnings per share were $2.84, compared with $2.47 a year earlier. Adjusted earnings per share increased 19.1% to $3.12, or 15.3% after excluding a nonrecurring tax benefit of $0.10. However, adjusted operating margin declined to 16.5% from 16.9% because of Project Nova, the Corewell and Fresenius mix, and supplemental deferred compensation expense.
FY2026 guidance assumes a negative revenue impact of 30 basis points due to the expiration of ACA exchange subsidies. The company also faces three potential PAMA paths: implementation of new CMS rates, passage of the RESULTS Act, or an additional delay after six previous delays. If the RESULTS Act is enacted, rates remain unchanged in 2027 and 2028, followed by implementation of new rates beginning in 2029 with an annual reduction cap of 5%.
The AD-Detect portfolio, which includes amyloid beta and pTau biomarkers, is delivering high-double-digit growth, and Elevance began reimbursing the pTau 217 test. ApoB, Lp(a), insulin resistance, and ANAlyzer tests are also seeing strong demand, and these tests help raise the number of tests per requisition to slightly more than 4.5. The direct and indirect consumer business totaled approximately $250 million in the previous year according to management, and its growth was at the high end of the 20% to 30% range cited for 2027.
