# Labcorp Holdings Inc. (LH) — Stock CV

Labcorp Holdings Inc. is a $25.3B healthcare company. Revenue grew 6.4% over the last year, it keeps 7¢ of every dollar of sales as profit, and its net debt equals ~3.9 years of free cash flow. It trades at 25.3× earnings — around the middle of its own history.

> Labcorp is one of the nation's two largest independent clinical laboratories, with roughly 20% of the independent lab market.

## Identity

- **Ticker**: LH
- **Sector**: Healthcare
- **Industry**: Diagnostics & Research
- **Headquarters**: BURLINGTON, NC
- **Employees**: 71 000
- **Website**: https://www.labcorp.com
- **Market cap**: $25.3B
- **Last price**: $311.84
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $14.3B
- **Net income**: $1.00B
- **Free cash flow**: $1.16B
- **Net debt**: $4.55B
- **P/E**: 25.3
- **Revenue growth (YoY)**: 6.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 61 |
| Growth | 25 |
| Profitability | 42 |
| Health | 66 |
| Quality | 100 |
| Moat | 50 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +6.4% YoY
- [x] Profitable — $1.00B TTM
- [ ] Profit growing — -9.2% YoY
- [x] Generates cash — $1.16B TTM
- [x] Debt under control — ~3.9y of cash flow to repay
- [x] Established company — $25.3B market cap
- [x] Not printing shares — -14.0% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [x] Financially stable — Altman Z 2.9 — grey
- [x] Pays a dividend — yield 0.94%
- [x] Valuation not extreme — P/E 25.3

## Experience (career milestones)

- **FY2021** — Best year on record: $2.38B net income
- **FY2017** — Revenue crossed $10B: $10.4B for the year
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $9.64B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak

## Strengths

- Interest covered 5.2× by operating earnings
- Piotroski F-Score 8/9 — fundamentally strong checklist

## Watch-outs

- Net debt would take ~5.8 years of free cash flow to repay

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $16.1B | $2.38B | $2.65B |
| FY2022 | $11.9B | $1.28B | $1.42B |
| FY2023 | $12.2B | $418M | $874M |
| FY2024 | $13.0B | $746M | $1.10B |
| FY2025 | $14.0B | $877M | $1.21B |

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Source: https://stockcv.com/LH — derived from company filings; may be delayed or incomplete. Information, not investment advice.