DGX Quest Diagnostics
FY2025 10-K
Quest Diagnostics (DGX) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Largest national lab services provider: ~$11.0B net revenue in 2025, serving ~⅓ of U.S. adult population annually and processing 244 million test requisitions
- • Advanced Diagnostics™ five-franchise segment (oncology, cardiometabolic, brain health, autoimmune, women's health) surpassed $1B revenue on double-digit growth
Management Discussion & Analysis
- • Revenue $11.0B in FY2025; no explicit YoY dollar comparison provided in the MD&A text
- • Advanced Diagnostics segment — oncology, cardiometabolic, brain health, autoimmune, women's health/genetics — exceeded $1B revenue on double-digit growth
Risk Factors
- • PAMA reimbursement reform risk: Congress introduced 2025 Results Act to fix structural flaws; prior 2018-2020 cuts exceeded original 10-year savings projections
- • Debt load $5.7B outstanding as of Dec 31, 2025 with restrictive covenants limiting operational flexibility
Financial SummaryXBRL
Revenue
$11.0B
Net Income
$992M
Operating Margin
14.1%
Net Margin
9.0%
ROE
13.8%
Total Assets
$16.2B
EPS (Diluted)
$8.75
Operating Cash Flow
$1.9B
Source: XBRL data from Quest Diagnostics FY2025 10-K filing on SEC EDGAR. All figures in USD.
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