Hologic (HOLX) FY2025 10-K Annual Report
Hologic (HOLX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Nov 18, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Hologic FY2025 10-K Analysis
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
Hologic FY2025 Key Financial MetricsXBRL
Revenue
$4.1B
▲ +1.7% YoY
Net Income
$566M
▼ -28.3% YoY
Gross Margin
51.6%
▼ -363bp YoY
Operating Margin
17.4%
▼ -448bp YoY
Net Margin
13.8%
▼ -579bp YoY
ROE
11.2%
▼ -418bp YoY
Total Assets
$9.0B
▼ -1.5% YoY
EPS (Diluted)
$2.49
▼ -25.0% YoY
Operating Cash Flow
$1.1B
▼ -17.7% YoY
Source: XBRL data from Hologic FY2025 10-K filing on SEC EDGAR. All figures in USD.
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