Short answer
Hologic (HOLX) filed its fiscal 2025 10-K annual report with the SEC on Nov 18, 2025. It reported revenue of $4.1B (+1.7% year over year) and net income of $566M.
- Top risk flagged: Legal risk from ongoing governmental and regulatory investigations affecting potential litigation costs
FY2025 key financial metrics · XBRL
- Revenue
- $4.1B
- +1.7% YoY
- Net income
- $566M
- −28.3% YoY
- Operating margin
- 17.4%
- −4.5 pp YoY
- Gross margin
- 51.6%
- −3.6 pp YoY
- EPS (diluted)
- $2.49
- −25.0% YoY
- ROE
- 11.2%
- −4.2 pp YoY
- Operating cash flow
- $1.1B
- −17.7% YoY
Source: XBRL data from the Hologic (HOLX) FY2025 10-K on SEC EDGAR. USD.
Hologic FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Developer and supplier of diagnostics, medical imaging, and surgical products focused on women’s health across four segments: Diagnostics, Breast Health, GYN Surgical, Skeletal Health
- New digital cytology platform Genius Digital Diagnostics System cleared by FDA in Jan 2024, combines AI with volumetric imaging for cervical cancer detection
- Strategic emphasis on expanding breast health portfolio by integrating Endomagnetics' wire-free localization and lymphatic tracing acquired in fiscal 2024
- Discontinuation planned for Skeletal Health segment’s Fluoroscan Insight FD mini C-arm system effective fiscal 2026
- Proposed acquisition by Blackstone and TPG at $76 per share plus up to $3 CVR, expected to close in H1 2026, contingent on stockholder and regulatory approvals
Management Discussion & Analysis
- Cash and cash equivalents $1,959.5M, down $200.7M YoY due to stock repurchases, Gynesonics acquisition ($321.5M), capex $137M, strategic investments $35M
- Operating cash flow $1,057.1M driven by net income $565.7M and $299.8M depreciation, offset by $141.6M deferred tax decrease
- Financing outflow $777.2M including $752.9M in stock repurchases and $28.5M debt repayments
- Debt $2.51B at FY25 end: $1.167B 2025 Term Loan, $942.9M 2029 Senior Notes (3.25% interest), $398.3M 2028 Senior Notes (4.625% interest)
- Board authorized $1.5B stock repurchase program; $937.5M remaining as of Sept 2025; repurchase activity restricted by merger agreement with Blackstone and TPG
Risk Factors
- Legal risk from ongoing governmental and regulatory investigations affecting potential litigation costs
- Macroeconomic exposure to increased Weighted Average Cost of Capital (WACC) impacting goodwill fair value, goodwill $3.6B at risk if markets deteriorate
- Operational risk of inventory obsolescence due to inaccurate demand forecasting for high-tech medical products
- Revenue disruption from embedded operating leases on instruments, impacting timing of recognition related to disposables sales
- Financial risk of significant indebtedness under 2025 Credit Agreement, 2028 and 2029 Senior Notes impacting liquidity and capital requirements
Generated from the filing text; verify against the original. How to read a 10-K
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