Labcorp Holdings Inc. (LH) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Equipment & Services
EV/EBITDA
↑
12.62
-7% vs avg
5yr avg: 13.51
30Y Low3.7·High19.4
P/FCF
↑
17.46
+9% vs avg
5yr avg: 16.08
30Y Low1.7·High22.8
P/B Ratio
↓
2.48
+6% vs avg
5yr avg: 2.35
30Y Low0.2·High4.6
ROE
↓
10.5%
-14% vs avg
5yr avg: 12.2%
30Y Low-46%·High28%
Debt/EBITDA
↑
3.28
↓-3% vs avg
5yr avg: 3.39
30Y Low1.0·High4.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
LH Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Labcorp Holdings Inc. trades at 24.5x earnings, roughly in line with its 5-year average of 24.6x, sitting at the 79th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 11%. On a free-cash-flow basis, the stock trades at 17.5x P/FCF, 9% above the 5-year average of 16.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $21.1B | $21.0B | $19.4B | $19.9B | $18.5B | $26.3B | $17.1B | $14.3B | $11.1B | $14.2B | $11.5B |
| Enterprise Value | $27.7B | $27.7B | $25.1B | $25.3B | $24.5B | $31.2B | $22.6B | $21.1B | $16.8B | $20.7B | $16.9B |
| P/E Ratio → | 24.46 | 23.98 | 25.94 | 47.65 | 14.49 | 11.07 | 11.01 | 17.38 | 12.61 | 11.22 | 15.71 |
| P/S Ratio | 1.51 | 1.51 | 1.49 | 1.64 | 1.56 | 2.00 | 1.23 | 1.24 | 0.98 | 1.36 | 1.19 |
| P/B Ratio | 2.48 | 2.43 | 2.40 | 2.52 | 1.83 | 2.56 | 1.81 | 1.89 | 1.59 | 2.09 | 2.08 |
| P/FCF | 17.46 | 17.43 | 17.66 | 22.78 | 12.57 | 9.93 | 9.77 | 13.72 | 12.03 | 12.45 | 12.82 |
| P/OCF | 12.83 | 12.82 | 12.20 | 15.00 | 9.47 | 8.46 | 8.03 | 9.92 | 8.53 | 9.76 | 9.78 |
P/E links to full P/E history page with 30-year chart
LH EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Labcorp Holdings Inc.'s enterprise value stands at 12.6x EBITDA, 7% below its 5-year average of 13.5x. The Healthcare sector median is 14.2x, placing the stock at a 11% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.99 | 1.93 | 2.08 | 2.06 | 2.37 | 1.61 | 1.83 | 1.48 | 1.98 | 1.75 |
| EV / EBITDA | 12.62 | 12.60 | 14.51 | 19.44 | 12.39 | 8.60 | 6.90 | 10.04 | 8.93 | 10.90 | 9.38 |
| EV / EBIT | 18.29 | 20.80 | 21.50 | 32.96 | 17.26 | 10.06 | 9.30 | 15.68 | 11.09 | 15.76 | 12.83 |
| EV / FCF | — | 22.96 | 22.91 | 28.98 | 16.59 | 11.77 | 12.87 | 20.20 | 18.12 | 18.08 | 18.86 |
LH Profitability
Margins and return-on-capital ratios measuring operating efficiency
Labcorp Holdings Inc. earns an operating margin of 10.9%. Operating margins have expanded from 6.0% to 10.9% over the past 3 years, signaling improving operational efficiency. ROE of 10.5% is modest. ROIC of 7.8% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.8% | 26.8% | 27.9% | 27.7% | 31.3% | 38.0% | 35.4% | 28.1% | 28.0% | 33.2% | 33.0% |
| Operating Margin | 10.9% | 10.9% | 8.4% | 6.0% | 12.1% | 23.2% | 17.5% | 11.5% | 11.7% | 13.1% | 13.6% |
| Net Profit Margin | 6.3% | 6.3% | 5.7% | 3.4% | 10.8% | 18.1% | 11.1% | 7.1% | 7.8% | 12.1% | 7.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.5% | 10.5% | 9.4% | 4.6% | 12.5% | 24.1% | 18.3% | 11.3% | 12.8% | 20.5% | 14.0% |
| ROA | 4.8% | 4.8% | 4.3% | 2.3% | 6.3% | 11.8% | 8.2% | 4.8% | 5.4% | 8.2% | 5.1% |
| ROIC | 7.8% | 7.8% | 6.0% | 3.7% | 6.9% | 15.2% | 12.5% | 7.4% | 7.7% | 8.5% | 9.1% |
| ROCE | 9.9% | 9.9% | 7.6% | 4.7% | 8.3% | 17.6% | 15.1% | 9.0% | 9.2% | 10.2% | 10.5% |
LH Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Labcorp Holdings Inc. carries a Debt/EBITDA ratio of 3.3x, which is moderately leveraged (roughly in line with the sector average of 3.2x). Net debt stands at $6.7B ($7.2B total debt minus $532M cash). Interest coverage of 5.9x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.83 | 0.83 | 0.90 | 0.75 | 0.62 | 0.62 | 0.71 | 0.94 | 0.87 | 0.99 | 1.06 |
| Debt / EBITDA | 3.28 | 3.28 | 4.20 | 4.57 | 3.16 | 1.75 | 2.07 | 3.38 | 3.23 | 3.56 | 3.24 |
| Net Debt / Equity | — | 0.77 | 0.71 | 0.69 | 0.59 | 0.47 | 0.57 | 0.89 | 0.81 | 0.94 | 0.98 |
| Net Debt / EBITDA | 3.04 | 3.04 | 3.33 | 4.16 | 3.00 | 1.34 | 1.66 | 3.22 | 3.00 | 3.40 | 3.00 |
| Debt / FCF | — | 5.53 | 5.25 | 6.20 | 4.02 | 1.84 | 3.10 | 6.48 | 6.09 | 5.63 | 6.04 |
| Interest Coverage | 5.94 | 5.94 | 5.61 | 3.85 | 7.88 | 14.63 | 11.70 | 5.59 | 6.19 | 5.58 | 6.02 |
LH Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.42x means Labcorp Holdings Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.17x to 1.42x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.42 | 1.42 | 1.44 | 1.17 | 1.50 | 1.92 | 1.66 | 1.12 | 1.51 | 1.23 | 1.36 |
| Quick Ratio | 1.23 | 1.23 | 1.30 | 1.02 | 1.35 | 1.77 | 1.53 | 1.03 | 1.38 | 1.12 | 1.24 |
| Cash Ratio | 0.19 | 0.19 | 0.46 | 0.17 | 0.10 | 0.53 | 0.43 | 0.13 | 0.23 | 0.14 | 0.24 |
| Asset Turnover | — | 0.76 | 0.71 | 0.73 | 0.59 | 0.64 | 0.70 | 0.64 | 0.70 | 0.63 | 0.68 |
| Inventory Turnover | 19.11 | 19.11 | 19.03 | 18.53 | 17.33 | 20.29 | 21.33 | 33.93 | 34.37 | 30.66 | 31.49 |
| Days Sales Outstanding | — | 59.14 | 58.84 | 62.99 | 61.45 | 82.76 | 78.77 | 63.98 | 59.98 | 64.58 | 57.49 |
LH Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Labcorp Holdings Inc. returns 3.3% to shareholders annually — split between a 1.1% dividend yield and 2.1% buyback yield. The payout ratio of 27.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.1% | 1.1% | 1.3% | 1.3% | 1.1% | — | — | — | — | — | — |
| Payout Ratio | 27.5% | 27.5% | 32.6% | 60.8% | 15.3% | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.1% | 4.2% | 3.9% | 2.1% | 6.9% | 9.0% | 9.1% | 5.8% | 7.9% | 8.9% | 6.4% |
| FCF Yield | 5.7% | 5.7% | 5.7% | 4.4% | 8.0% | 10.1% | 10.2% | 7.3% | 8.3% | 8.0% | 7.8% |
| Buyback Yield | 2.1% | 2.1% | 1.3% | 5.2% | 6.2% | 6.5% | 0.8% | 3.1% | 6.3% | 2.4% | 0.4% |
| Total Shareholder Yield | 3.3% | 3.3% | 2.5% | 6.5% | 7.3% | 6.5% | 0.8% | 3.1% | 6.3% | 2.4% | 0.4% |
| Shares Outstanding | — | $84M | $84M | $88M | $92M | $98M | $98M | $99M | $103M | $104M | $104M |
Peer Comparison
Compare LH with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 LHYou | $21B | 24.5 | 12.6 | 17.5 | 26.8% | 10.9% | 10.5% | 7.8% | 3.3 |
 DGX | $22B | 22.3 | 12.9 | 15.9 | 31.9% | 14.5% | 14.0% | 8.8% | 3.2 |
 SLNO | $3B | 135.9 | 158.9 | 59.1 | 98.6% | 7.9% | 6.0% | 3.8% | 0.2 |
 EXAS | $20B | -95.4 | — | 56.1 | 69.7% | -6.4% | -8.7% | -3.6% | — |
 BIO | $8B | 10.1 | 18.1 | 20.4 | 52.0% | 10.5% | 10.8% | 2.6% | 3.2 |
 NTRA | $33B | -152.2 | — | 303.7 | 64.8% | -13.4% | -14.3% | -36.1% | — |
 IQV | $28B | 21.4 | 12.4 | 13.9 | 26.3% | 14.0% | 21.4% | 8.7% | 4.7 |
 CRL | $9B | -63.6 | 12.9 | 17.2 | 30.5% | 12.6% | -4.3% | 6.3% | 3.4 |
 MEDP | $13B | 30.1 | 22.9 | 19.3 | 30.1% | 21.1% | 70.2% | 154.9% | 0.4 |
 ICLR | $11B | 50.3 | 10.1 | 13.0 | 26.4% | 12.3% | 2.5% | 6.2% | 2.5 |
 TMO | $173B | 26.2 | 18.7 | 27.4 | 37.7% | 18.2% | 13.1% | 7.5% | 3.8 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into LH consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
LH — Frequently Asked Questions
Quick answers to the most common questions about buying LH stock.
What is Labcorp Holdings Inc.'s P/E ratio?
Labcorp Holdings Inc.'s current P/E ratio is 24.5x. The historical average is 18.4x. This places it at the 79th percentile of its historical range.
What is Labcorp Holdings Inc.'s EV/EBITDA?
Labcorp Holdings Inc.'s current EV/EBITDA is 12.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
What is Labcorp Holdings Inc.'s ROE?
Labcorp Holdings Inc.'s return on equity (ROE) is 10.5%. The historical average is 13.9%.
Is LH stock overvalued?
Based on historical data, Labcorp Holdings Inc. is trading at a P/E of 24.5x. This is at the 79th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Labcorp Holdings Inc.'s dividend yield?
Labcorp Holdings Inc.'s current dividend yield is 1.12% with a payout ratio of 27.5%.
What are Labcorp Holdings Inc.'s profit margins?
Labcorp Holdings Inc. has 26.8% gross margin and 10.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Labcorp Holdings Inc. have?
Labcorp Holdings Inc.'s Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.