Labcorp Holdings Inc.
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+ FollowMarket Cap$29.31B
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Earnings Call Q3 2026
October 28, 2026 - AI Summary
Q3 2026 strong performance; margin + EPS leverage
- Revenue: $3.8B (+7% YoY); driven by volume growth plus margin expansion.
- Adjusted operating margin: 15.0% (+60 bps YoY).
- Adjusted EPS: $4.78 (+14.5% YoY).
- Free cash flow (FCF): $412M (up from $281M), with the increase mainly from working capital improvement; partially offset by planned capex increases.
- Free cash flow supports capital allocation flexibility (see below).
Segment momentum (Diagnostics + Biopharma Lab Services) and leading indicators
- Diagnostics revenue: $2.9B (+6.5% YoY) with 4.4% organic (volume + price/mix) and tests per session strength.
- BLS revenue: $867M (+8.5% YoY); organic constant-currency +9.6%, with growth helped by study timing and central lab demand.
- BLS book-to-bill: 1.13 in the quarter, 1.10 trailing 12 months (supports continued demand visibility).
- Margins: Diagnostics adjusted operating margin 16.7% (up 40 bps); BLS adjusted operating margin 18.3% (up 180 bps).
2026 guidance raised (forecast upgrade)
- Enterprise guidance raised: revenue midpoint increased by ~$65M; adjusted EPS midpoint increased by ~$0.18.
- Updated 2026 revenue growth outlook: +5.9% to +6.7% (enterprise) with organic performance as the majority of growth.
- BLS guidance raised: +7.4% to +8.4% (raised midpoint by 190 bps), mainly from central labs strength.
- Capex expected at ~4% of revenue; guidance assumes FX rates as of 9/30/2026.
- FCF guidance maintained: $1.24B to $1.36B.
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$343.93
3.3% downside
Current Fair Value
3.3% downsideOvervalued by 3.3% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $29.31 Billion |
|---|---|
| Enterprise Value | $36.32 Billion |
| Annual dividend | $2.88 |
| Dividend yield | 0.80% |
| Earnings per Share | $10.54 |
| Beta | 0.85 |
| Outstanding Shares | 81,100,000 |
Return
| Return on Equity | 11.67% |
|---|---|
| Return on Assets | 5.42% |
| Return on Invested Capital | 9.74% |
Valuation & Multiples
| P/E Ratio | 29.45 |
|---|---|
| PEG | 4523.66 |
| Price to Sales | 1.99 |
| Price to Book Ratio | 3.36 |
| Enterprise Value to Revenue | 2.49 |
| Enterprise Value to EBIT | 22.73 |
| Enterprise Value to Net Income | 36 |
| Total Debt to Enterprise | 0.2 |
| Debt to Equity | 0.83 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 28, 2026
EPS Estimate
$4.64
Consensus analyst estimateRevenue Estimate
$3.76 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 16, 2027
EPS Estimate
$4.50
Consensus analyst estimateRevenue Estimate
$3.75 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 158.99% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.09%▼ 92.08% |
|---|---|
| Total Invested | $1.27B▼ 94.31% |
| Investors Holding | 379▼ 692.00% |
About Laboratory Corp. Of America Holdings
71,000 employees
CEO: David King
Labcorp Holdings, Inc. delivers specialized diagnostic laboratory services. Its purpose is to empower a diverse group of stakeholders – including medical professionals, hospitals, pharmaceutical companies, scientific researchers, and ind...