DGX Quest Diagnostics Incorporated Common Stock
$240.04
Price · Aug 19, 2026
Fundamentals as of Jul 23, 2026
52W Range
$171–$242
97% of range
Analyst Rating
HOLD
23 analysts
Price Target
$246
+2% upside
P/E (TTM)
27.7
ROE
14.2%
Net Profit Margin
9.0%
About Quest Diagnostics Incorporated Common Stock Company overview from Wikipedia
Quest Diagnostics Incorporated is an American clinical laboratory. A Fortune 500 company, Quest operates in the United States, Puerto Rico, Mexico, and Brazil. Quest also maintains collaborative agreements with various hospitals and clinics across the globe.
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Quest Diagnostics Incorporated is an American clinical laboratory. A Fortune 500 company, Quest operates in the United States, Puerto Rico, Mexico, and Brazil. Quest also maintains collaborative agreements with various hospitals and clinics across the globe.
As of 2020, the company had approximately 48,000 employees, and it generated more than $7.7 billion in revenue in 2019. The company offers access to diagnostic testing services for cancer, cardiovascular disease, infectious disease, neurological disorders, COVID-19, and employment and court-ordered drug testing.
History
1960–1995
Originally founded as Metropolitan Pathology Laboratory, Inc. in 1967 by Paul A. Brown, MD, the clinical laboratory underwent a variety of name changes. In 1969, the company's name changed to MetPath, Inc. with headquarters in Teaneck, New Jersey. By 1982, MetPath was acquired by what was then known as Corning Glass Works and was subsequently renamed Corning Clinical Laboratories.
1996–2000
On December 31, 1996, Quest Diagnostics became an independent company as a spin-off from Corning. Kenneth W. Freeman was appointed as CEO during this transition. Over the next year, Quest acquired a clinical laboratory division of Branford, Connecticut–based Diagnostic Medical Laboratory, Inc. (DML). Two years later in 1999, Quest added SmithKline Beecham Clinical Laboratories to their subsidiaries; which includes a joint venture ownership with CompuNet Clinical Laboratory. The purchase of SmithKline Beecham also included the lab's medical sample transport airline (ICAO: LBQ, call sign: LABQUEST) originally founded in 1988.
In 1997, Quest and Banner Health formed a joint venture creating the Arizona based Sonora Quest laboratory, a business unit of Laboratory Sciences of Arizona. This entity represents the operations of Quest Diagnostics in the Arizona regional market.
2001–2015
From May 2004 to April 2012, Surya Mohapatra served as the company's President and CEO. In 2007 Quest acquired diagnostic testing equipment company AmeriPath. In response to Mohapatra's resignation after eight years with Quest, former Philips Healthcare CEO Stephen Rusckowski was appointed. Under Rusckowski, Quest Diagnostics teamed up with central New England's largest health care system, UMass Memorial Health Care, to purchase its clinical outreach laboratory.
2016–present
In 2016, Quest collaborated with Safeway to bring testing services to twelve of its stores in California, Maryland, Virginia, Texas and Colorado.
By the end of 2017, Quest, in partnership with Walmart, incorporated laboratory testing in about 15 of their locations in Texas and Florida.
In May 2018, the company announced it will become an in-network laboratory provider to UnitedHealthcare starting in 2019, providing access to 48 million plan members.
In September 2018, Quest moved its headquarters from Madison, where it was located since 2007, to Secaucus, New Jersey.
In November 2018, Quest launched QuestDirect, a consumer-initiated testing service that allows patients to order health and wellness lab testing from home.
In March 2020, the company launched a COVID-19 testing service. As of July 2020, Quest had performed more than 9.2 million COVID-19 molecular tests and 2.8 million serology tests.
In April 2024, Quest has added a new blood screening to their AD-Detect product line. This test will analyze the blood for a specific Alzheimer's protein, pTau-217.
In February 2025, Quest acquired select assets of Fresenius Medical Care's Spectra laboratories. Under a separate agreement, Quest now offers clinical testing and lab services related to dialysis and end-stage kidney disease.
Acquisitions
Partnerships
2005: Forms a strategic alliance with Ciphergen Biosystems to commercialize novel proteomic tests.
Controversies
Quest Diagnostics set a record in April 2009 when it paid $302 million to the government to settle a Medicare fraud case alleging the company sold faulty medical testing kits. It was the largest qui tam (whistleblower) settlement paid by a medical laboratory for manufacturing and distributing a faulty product. In May 2011, Quest paid $241 million to the state of California to settle a False Claims Act case that alleged the company had overcharged Medi-Cal, the state's Medicaid program, and provided illegal kickbacks as incentives for healthcare providers to use Quest labs.
In 2018, Quest Diagnostics was among a number of U.S.–based laboratories linked to inaccuracies of over 200 women's cervical smear tests for CervicalCheck, Ireland's national screening program. Audits of the testing performed by Quest (and another subcontractor, Clinical Pathology Laboratories, Inc. of Austin, Texas) showed a high rate of errors in analysis of samples which led to lawsuits and a government inquiry. Quest and the Irish government continue to settle the resulting lawsuits.
On June 3, 2019, Quest announced that American Medical Collection Agency (AMCA), a billing collections service provider, had informed Quest Diagnostics that an unauthorized user had access to AMCA’s system containing personal information AMCA received from various entities, including from Quest. AMCA provides billing collections services to Optum360, which in turn is a Quest contractor. AMCA later went bankrupt after the breach.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
DGX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$240.04
Market Cap
$26.64B
P/E (TTM)
27.7
EPS (TTM)
$8.75
Revenue (TTM)
$11.04B
Div Yield
1.3%
ROE
14.2%
Debt/Equity
0.8
52W Range
$171 – $242
DGX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$11.04B
2016-12-31
→
2025-12-31
EPS
$8.75
2016-12-31
→
2025-12-31
Free Cash Flow
$1.36B
2016-12-31
→
2025-12-31
Margins
9.0%
2016-12-31
→
2020-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
DGX
Peer Median
P/E (TTM)
27.7
26.5
P/S (TTM)
2.4
2.0
P/B
3.7
4.9
EV / EBITDA
15.0
—
Price / FCF
19.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
DGX
Peer Median
Operating Margin
14.1%
—
Net Profit Margin
9.0%
4.0%
ROA
6.1%
5.0%
ROE
14.2%
15.2%
ROIC
9.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
DGX
Peer Median
Debt / Equity
0.8
—
Current Ratio
1.0
1.6
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
DGX
Peer Median
Revenue YoY
11.8%
—
Revenue CAGR 3Y
3.7%
—
Revenue CAGR 5Y
3.2%
—
EPS YoY
13.8%
—
Net Income YoY
13.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
DGX
Peer Median
Payout Ratio
35.6%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
1.3%
Payout Ratio
35.6%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| July 8, 2026 | $0.8600 |
| April 6, 2026 | $0.8600 |
| Jan. 13, 2026 | $0.8000 |
| Oct. 3, 2025 | $0.8000 |
| July 7, 2025 | $0.8000 |
| April 7, 2025 | $0.8000 |
| Jan. 14, 2025 | $0.7500 |
| Oct. 4, 2024 | $0.7500 |
| July 8, 2024 | $0.7500 |
| April 5, 2024 | $0.7500 |
| Jan. 16, 2024 | $0.7100 |
| Oct. 5, 2023 | $0.7100 |
| July 10, 2023 | $0.7100 |
| April 6, 2023 | $0.7100 |
| Jan. 17, 2023 | $0.6600 |
| Oct. 3, 2022 | $0.6600 |
| July 5, 2022 | $0.6600 |
| April 5, 2022 | $0.6600 |
| Jan. 18, 2022 | $0.6200 |
| Oct. 4, 2021 | $0.6200 |
DGX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
23 analysts
- Strong Buy 6 26.1%
- Buy 7 30.4%
- Hold 10 43.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
15 analysts · 2026-08-16
Median
$250.00
Now
$240.04
Low
$204.00
High
$265.00
Median target
$250.00
+4.1%
Mean target
$245.87
+2.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.09%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $3.12 | $2.85 | 0.27% |
| March 31, 2026 | $2.50 | $2.37 | 0.13% |
| Dec. 31, 2025 | $2.42 | $2.38 | 0.04% |
| Sept. 30, 2025 | $2.60 | $2.53 | 0.07% |
| June 30, 2025 | $2.62 | $2.60 | 0.02% |
| March 31, 2025 | $2.21 | $2.17 | 0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DGX | $19.09B | 19.8 | 11.8% | 9.0% | 14.2% | — |
| CVS | $100.87B | 57.1 | 7.8% | 0.44% | 2.4% | — |
| CI | $72.51B | 12.4 | 11.2% | 2.2% | 14.4% | — |
| LH | $20.62B | 24.0 | 7.2% | 6.3% | 10.3% | 28.8% |
| GH | $13.34B | -30.8 | 32.9% | -42.4% | 205.7% | — |
| LH | $20.62B | 24.0 | 7.2% | 6.3% | 10.3% | 28.8% |
| BTSG | $7.20B | 43.0 | 28.2% | 1.5% | 10.8% | 11.8% |
| DVA | $7.79B | 11.5 | 6.5% | 5.5% | -281.8% | — |
| HNGE | $0 | -6.0 | 50.6% | -89.9% | -299.8% | 79.7% |
| CHE | — | 23.3 | 4.1% | 10.5% | 24.4% | — |
| HIMS | — | 63.7 | 59.0% | 5.5% | 23.3% | 73.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.04B | $9.87B | $9.25B | $9.88B | $10.79B | $9.44B | $7.73B | $7.53B | $7.40B | $7.21B | $7.49B | $7.43B | |
| Cost of Revenue | $7.37B | $6.63B | $6.20B | $6.45B | $6.58B | $5.80B | $5.04B | $4.93B | $4.72B | $4.62B | $4.66B | $4.64B | |
| Gross Profit | · | · | · | · | · | $3.63B | $2.69B | $2.60B | $2.68B | $2.90B | $2.84B | $2.80B | |
| SG&A Expense | $1.97B | $1.77B | $1.64B | $1.87B | $1.73B | $1.55B | $1.46B | $1.42B | $1.44B | $1.38B | $1.68B | $1.73B | |
| Operating Expenses | $9.48B | $8.53B | $7.99B | $8.46B | $8.41B | $7.47B | $6.50B | $6.43B | $6.24B | $5.94B | $6.09B | $6.45B | |
| Operating Income | $1.56B | $1.35B | $1.26B | $1.43B | $2.38B | $1.97B | $1.23B | $1.10B | $1.17B | $1.28B | $1.40B | $983M | |
| Interest Expense | · | · | $163M | $148M | $152M | $166M | $180M | $169M | $153M | $144M | $154M | $167M | |
| Interest Income | $13M | $25M | $11M | $10M | $1M | $3M | $5M | $2M | $2M | $1M | $1M | $3M | |
| Other Non-op | $26M | $30M | $20M | $-55M | $369M | $76M | $20M | $-8M | $16M | $-48M | $-143M | $4M | |
| Pretax Income | $1.32B | $1.18B | $1.13B | $1.24B | $2.60B | $1.88B | $1.08B | $926M | $1.03B | $1.09B | $1.10B | $823M | |
| Income Tax | $314M | $273M | $248M | $264M | $597M | $460M | $247M | $182M | $241M | $429M | $373M | $262M | |
| Net Income | $992M | $871M | $854M | $946M | $2.00B | $1.43B | $858M | $736M | $772M | $645M | $709M | $556M | |
| EPS (Basic) | $8.87 | $7.78 | $7.59 | $8.10 | $15.85 | $10.62 | $6.36 | $5.39 | $5.63 | $4.58 | $4.92 | $3.83 | |
| EPS (Diluted) | $8.75 | $7.69 | $7.49 | $7.97 | $15.55 | $10.47 | $6.28 | $5.29 | $5.50 | $4.51 | $4.87 | $3.81 | |
| Shares (Basic) | 111,000,000 | 111,000,000 | 112,000,000 | 116,000,000 | 125,000,000 | 134,000,000 | 134,000,000 | 136,000,000 | 137,000,000 | 140,000,000 | 144,000,000 | 145,000,000 | |
| Shares (Diluted) | 113,000,000 | 113,000,000 | 113,000,000 | 118,000,000 | 128,000,000 | 136,000,000 | 136,000,000 | 139,000,000 | 140,000,000 | 142,000,000 | 145,000,000 | 145,000,000 | |
| EBITDA | $2.13B | $1.84B | $1.70B | $1.86B | $2.79B | $2.33B | $1.56B | $1.41B | $1.44B | $1.53B | $1.70B | $1.30B |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $420M | $549M | $686M | $315M | $872M | $1.16B | $1.19B | $135M | $137M | $359M | $133M | $192M | |
| Receivables | $1.41B | $1.30B | $1.21B | $1.20B | $1.44B | $1.52B | $1.06B | $1.01B | $924M | $926M | $901M | $932M | |
| Inventory | $189M | $188M | $190M | $192M | $208M | $223M | $123M | $99M | $95M | $82M | $84M | $110M | |
| Prepaid Expense | $361M | $351M | $286M | $196M | $223M | $157M | $112M | $144M | $150M | $155M | $207M | $186M | |
| Current Assets | $2.38B | $2.39B | $2.37B | $1.90B | $2.74B | $3.06B | $2.49B | $1.39B | $1.31B | $1.53B | $1.50B | $1.60B | |
| PP&E (Net) | $2.20B | $2.11B | $1.82B | $1.77B | $1.71B | $1.63B | $1.45B | $1.29B | $1.15B | $1.03B | $925M | $933M | |
| PP&E (Gross) | $6.18B | $5.77B | $5.23B | $5.10B | $4.79B | $4.62B | $4.23B | $3.97B | $3.67B | $3.43B | $3.23B | $3.13B | |
| Accum. Depreciation | $3.97B | $3.66B | $3.42B | $3.34B | $3.09B | $2.99B | $2.78B | $2.68B | $2.53B | $2.40B | $2.31B | $2.19B | |
| Goodwill | $8.95B | $8.86B | $7.73B | $7.22B | $7.09B | $6.87B | $6.62B | $6.56B | $6.33B | $6.00B | $5.91B | $6.03B | |
| Intangibles | $1.64B | $1.76B | $1.17B | $1.09B | $1.17B | $1.17B | $1.12B | $1.21B | $1.12B | $949M | $984M | $1.07B | |
| Other Non-current Assets | $270M | $255M | $198M | $144M | $163M | $176M | $160M | $119M | $136M | $148M | $174M | $172M | |
| Total Assets | $16.23B | $16.15B | $14.02B | $12.84B | $13.61B | $14.03B | $12.84B | $11.00B | $10.50B | $10.10B | $9.96B | $9.86B | |
| Accounts Payable | $1.60B | $1.39B | $1.36B | $1.40B | $1.60B | $1.63B | $1.04B | $1.02B | $1.02B | $975M | $1.01B | $1.19B | |
| Accrued Liabilities | $338M | $306M | $287M | $392M | $460M | $356M | $223M | $274M | $246M | $254M | $257M | $277M | |
| Current Liabilities | $2.28B | $2.17B | $1.81B | $1.55B | $1.75B | $1.78B | $1.99B | $1.49B | $1.06B | $981M | $1.17B | $1.71B | |
| Capital Leases | $537M | $535M | $503M | $489M | $494M | $499M | $413M | $0 | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | $264M | $243M | $170M | $191M | $157M | $204M | |
| Other Non-current Liabilities | $957M | $938M | $876M | $812M | $792M | $847M | $711M | $745M | $663M | $654M | $514M | $594M | |
| Long-term Debt | $5.67B | $6.22B | $4.71B | $3.98B | $4.01B | $4.01B | $4.77B | $3.89B | $3.78B | $3.73B | $3.65B | $3.74B | |
| Total Debt | $5.67B | $6.22B | $4.71B | $3.98B | $4.01B | $4.01B | $4.77B | $3.89B | $3.78B | $3.73B | $3.65B | $3.76B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Retained Earnings | $9.99B | $9.36B | $8.82B | $8.29B | $7.65B | $9.30B | $8.17B | $7.60B | $7.14B | $6.61B | $6.20B | $5.72B | |
| Treasury Stock | $5.18B | $4.86B | $4.83B | $4.67B | $3.45B | $5.37B | $5.22B | $5.00B | $4.78B | $4.46B | $3.96B | $3.81B | |
| AOCI | $-27M | $-88M | $-14M | $-21M | $-14M | $-21M | $-39M | $-59M | $-48M | $-72M | $-38M | $-27M | |
| Stockholders' Equity | $7.17B | $6.78B | $6.31B | $5.89B | $6.44B | $6.76B | $5.64B | $5.22B | $4.92B | $4.63B | $4.68B | $4.30B | |
| Liabilities + Equity | $16.23B | $16.15B | $14.02B | $12.84B | $13.61B | $14.03B | $12.84B | $11.00B | $10.50B | $10.10B | $9.96B | $9.86B | |
| Shares Outstanding | 110,000,000 | 111,000,000 | 111,000,000 | 111,000,000 | 119,000,000 | 133,000,000 | 133,000,000 | 135,000,000 | 135,000,000 | 137,000,000 | 143,000,000 | 144,000,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $570M | $493M | $439M | $437M | $408M | $361M | $329M | $309M | $270M | $249M | $304M | $314M | |
| Stock-based Comp | $88M | $88M | $77M | $77M | $79M | $97M | $56M | $61M | $79M | $69M | $52M | $51M | |
| Deferred Tax | $105M | $13M | $-49M | $1M | $-57M | $85M | $15M | $73M | $9M | $37M | $112M | $23M | |
| Amort. of Intangibles | $154M | $127M | $108M | $120M | $103M | $103M | $96M | $90M | $74M | $72M | $81M | $94M | |
| Restructuring | · | · | · | $55M | $13M | $14M | $-3M | $49M | $30M | $11M | $39M | $43M | |
| Other Non-cash | $131M | $-131M | $-49M | $257M | $-192M | $31M | $-15M | $21M | $45M | $69M | $-367M | $-6M | |
| Operating Cash Flow | $1.89B | $1.33B | $1.27B | $1.72B | $2.23B | $2.00B | $1.24B | $1.20B | $1.18B | $1.12B | $821M | $944M | |
| CapEx | $527M | $425M | $408M | $404M | $403M | $418M | $400M | $383M | $252M | $293M | $263M | $308M | |
| Investing Cash Flow | $-631M | $-2.55B | $-1.06B | $-543M | $21M | $-772M | $-411M | $-801M | $-830M | $-127M | $-362M | $-1.02B | |
| Stock Repurchased | $450M | $151M | $275M | $1.41B | $2.20B | $325M | $353M | $322M | $465M | $590M | $224M | $132M | |
| Net Stock Activity | $-450M | $-151M | $-275M | $-1.41B | $-2.20B | $-325M | $-353M | $-322M | $-465M | $-590M | $-224M | $-132M | |
| Dividends Paid | $353M | $331M | $314M | $305M | $309M | $297M | $286M | $266M | $247M | $223M | $212M | $187M | |
| Financing Cash Flow | $-1.39B | $1.08B | $160M | $-1.73B | $-2.54B | $-1.27B | $225M | $-401M | $-592M | $-738M | $-518M | $86M | |
| Net Change in Cash | $-129M | $-137M | $371M | $-557M | $-286M | · | · | · | $-222M | $226M | $-59M | $5M | |
| Taxes Paid | $169M | $256M | $317M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $1.36B | $909M | $864M | $1.31B | $1.83B | $1.59B | $843M | $817M | $923M | $776M | $547M | $630M | |
| Levered FCF | · | · | $737M | $1.20B | $1.71B | $1.46B | $704M | $681M | $806M | $689M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | 38.5% | 34.8% | 34.6% | 38.8% | 38.6% | 37.9% | 37.6% | |
| Operating Margin | 14.1% | 13.6% | 13.6% | 14.4% | 22.1% | 20.9% | 15.9% | 14.6% | 15.1% | 17.0% | 18.7% | 13.2% | |
| Net Margin | 9.0% | 8.8% | 9.2% | 9.6% | 18.5% | 15.2% | 11.1% | 9.8% | 10.0% | 8.6% | 9.5% | 7.5% | |
| Pretax Margin | 11.9% | 11.9% | 12.2% | 12.5% | 24.1% | 20.0% | 13.9% | 12.3% | 13.4% | 14.4% | 14.7% | · | |
| EBITDA Margin | 19.3% | 18.6% | 18.4% | 18.9% | 25.9% | 24.7% | 20.2% | 18.7% | 18.6% | 20.3% | 22.7% | 17.4% | |
| ROA | 6.1% | 5.8% | 6.4% | 7.1% | 14.4% | 10.7% | 7.2% | 6.8% | 7.5% | 6.4% | 7.1% | 5.9% | |
| ROE | 14.2% | 13.3% | 14.0% | 15.3% | 30.2% | 23.1% | 15.8% | 14.5% | 16.2% | 13.9% | 15.8% | 13.5% | |
| ROIC | 9.2% | 8.0% | 8.9% | 11.4% | 17.5% | 13.8% | 9.1% | 9.7% | 10.2% | 9.2% | 11.1% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.1 | 1.3 | 1.2 | 1.6 | 1.7 | 1.3 | 0.9 | 1.2 | 1.6 | 1.3 | 0.9 | |
| Quick Ratio | 0.8 | 0.9 | 1.0 | 1.0 | 1.3 | 1.5 | 1.1 | 0.8 | 1.0 | 1.3 | 0.9 | 0.7 | |
| Debt / Equity | 0.8 | 0.9 | 0.7 | 0.7 | 0.6 | 0.6 | 0.8 | 0.7 | 0.8 | 0.8 | 0.8 | 0.9 | |
| LT Debt / Equity | 0.7 | 0.8 | 0.7 | 0.7 | 0.6 | 0.6 | 0.7 | 0.7 | 0.8 | 0.8 | 0.7 | 0.8 | |
| Interest Coverage | · | · | 7.7 | 9.6 | 15.7 | 11.9 | 6.8 | 6.5 | 7.6 | 8.9 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.7 | 0.7 | 0.7 | 0.8 | 0.7 | 0.6 | 0.7 | 0.7 | 0.7 | 0.8 | 0.8 | |
| Inventory Turnover | 39.1 | 35.1 | 32.5 | 32.2 | 30.5 | 33.5 | 45.4 | 50.8 | 53.3 | 55.6 | 48.0 | 46.1 | |
| Receivables Turnover | 8.1 | 7.9 | 7.7 | 7.5 | 7.3 | 7.3 | 7.4 | 7.8 | 8.3 | 8.2 | 8.2 | 8.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 11.8% | 6.7% | -6.4% | -8.4% | 14.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 3.7% | -2.9% | -0.66% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.2% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 13.8% | 2.7% | -6.0% | -48.8% | 48.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 3.2% | -20.9% | -10.6% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -3.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 13.9% | 2.0% | -9.7% | -52.6% | 39.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 1.6% | -24.1% | -15.8% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -7.1% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 3.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $11.04B | $9.87B | $9.25B | $9.88B | $10.79B | $9.44B | $7.73B | $7.53B | $7.40B | $7.21B | $7.49B | $7.43B | |
| Net Income TTM | $992M | $871M | $854M | $946M | $2.00B | $1.43B | $858M | $736M | $772M | $645M | $709M | $556M | |
| Market Cap | $19.09B | $16.75B | $15.30B | $17.36B | $20.59B | $15.85B | $14.20B | $11.24B | $13.30B | $12.59B | $10.17B | $9.66B | |
| Enterprise Value | $24.34B | $22.41B | $19.33B | $21.03B | $23.73B | $18.71B | $17.78B | $15.00B | $16.94B | $15.97B | $13.69B | $13.23B | |
| P/E | 19.8 | 19.6 | 18.4 | 19.6 | 11.1 | 11.4 | 17.0 | 15.7 | 17.9 | 20.4 | 14.6 | 17.6 | |
| P/S | 1.7 | 1.7 | 1.7 | 1.8 | 1.9 | 1.7 | 1.8 | 1.5 | 1.8 | 1.7 | 1.4 | 1.3 | |
| P/B | 2.7 | 2.5 | 2.4 | 2.9 | 3.2 | 2.3 | 2.5 | 2.2 | 2.7 | 2.7 | 2.2 | 2.2 | |
| P / Cash Flow | 10.1 | 12.6 | 12.0 | 10.1 | 9.2 | 7.9 | 11.4 | 9.4 | 11.3 | 11.8 | 12.6 | 10.3 | |
| P / FCF | 14.0 | 18.4 | 17.7 | 13.2 | 11.3 | 10.0 | 16.8 | 13.8 | 14.4 | 16.2 | 18.6 | 15.3 | |
| EV / EBITDA | 11.4 | 12.2 | 11.4 | 11.3 | 8.5 | 8.0 | 11.4 | 10.6 | 11.8 | 10.5 | 8.0 | 10.2 | |
| EV / FCF | 17.9 | 24.7 | 22.4 | 16.0 | 13.0 | 11.8 | 21.1 | 18.4 | 18.4 | 20.6 | 25.0 | 21.0 | |
| EV / Revenue | 2.2 | 2.3 | 2.1 | 2.1 | 2.2 | 2.0 | 2.3 | 2.0 | 2.3 | 2.2 | 1.8 | 1.8 | |
| Dividend Yield | 1.8% | 2.0% | 2.1% | 1.8% | 1.5% | 1.9% | 2.0% | 2.4% | 1.9% | 1.8% | 2.1% | 1.9% | |
| Earnings Yield | 5.0% | 5.1% | 5.4% | 5.1% | 9.0% | 8.8% | 5.9% | 6.3% | 5.6% | 4.9% | 6.9% | 5.7% | |
| Payout Ratio | 35.6% | 38.0% | 36.8% | 32.2% | 15.5% | 20.8% | 33.3% | 36.1% | 32.0% | 34.6% | 29.9% | 33.6% | |
| Annual Payout | $353M | $331M | $314M | $305M | $309M | $297M | $286M | $266M | $247M | $223M | $212M | $187M |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.04B | $2.90B | $2.81B | $2.82B | $2.76B | $2.65B | $2.62B | $2.49B | $2.40B | $2.37B | $2.29B | $2.29B | $2.34B | $2.33B | $2.33B | $2.49B | |
| Cost of Revenue | $2.02B | $1.95B | $1.90B | $1.87B | $1.82B | $1.79B | $1.76B | $1.68B | $1.59B | $1.59B | $1.55B | $1.54B | $1.55B | $1.56B | $1.57B | $1.62B | |
| SG&A Expense | $529M | $504M | $504M | $501M | $486M | $476M | $466M | $448M | $416M | $440M | $407M | $380M | $416M | $439M | $563M | $464M | |
| Operating Expenses | $2.58B | $2.50B | $2.42B | $2.43B | $2.32B | $2.31B | $2.26B | $2.16B | $2.04B | $2.07B | $2.02B | $1.95B | $1.99B | $2.03B | $2.20B | $2.09B | |
| Operating Income | $459M | $399M | $386M | $386M | $438M | $346M | $361M | $330M | $355M | $300M | $267M | $342M | $348M | $305M | $135M | $392M | |
| Interest Expense | · | · | · | · | · | · | · | · | $47M | $49M | · | $41M | $39M | $37M | · | $37M | |
| Interest Income | $5M | $2M | $3M | $3M | $2M | $5M | $7M | $9M | $3M | $6M | $6M | $1M | $2M | $2M | $4M | $4M | |
| Other Non-op | $16M | $-2M | $8M | $8M | $13M | $-3M | $3M | $15M | $3M | $9M | $10M | $-3M | $6M | $7M | $6M | $-8M | |
| Pretax Income | $412M | $334M | $330M | $328M | $384M | $276M | $299M | $296M | $314M | $266M | $237M | $299M | $317M | $277M | $109M | $351M | |
| Income Tax | $88M | $74M | $81M | $77M | $97M | $59M | $68M | $65M | $74M | $66M | $40M | $68M | $75M | $65M | $-4M | $81M | |
| Net Income | $320M | $252M | $245M | $245M | $282M | $220M | $222M | $226M | $229M | $194M | $192M | $225M | $235M | $202M | $101M | $256M | |
| EPS (Basic) | $2.88 | $2.27 | $2.21 | $2.18 | $2.51 | $1.97 | $1.98 | $2.01 | $2.05 | $1.74 | $1.72 | $1.99 | $2.08 | $1.80 | $0.93 | $2.20 | |
| EPS (Diluted) | $2.84 | $2.24 | $2.18 | $2.16 | $2.47 | $1.94 | $1.95 | $1.99 | $2.03 | $1.72 | $1.70 | $1.96 | $2.05 | $1.78 | $0.92 | $2.17 | |
| Shares (Basic) | 111,000,000 | 110,000,000 | -224,000,000 | 112,000,000 | 112,000,000 | 111,000,000 | -223,000,000 | 112,000,000 | 111,000,000 | 111,000,000 | -224,000,000 | 112,000,000 | 112,000,000 | 112,000,000 | -236,000,000 | 116,000,000 | |
| Shares (Diluted) | 112,000,000 | 112,000,000 | -226,000,000 | 113,000,000 | 113,000,000 | 113,000,000 | -224,000,000 | 113,000,000 | 112,000,000 | 112,000,000 | -228,000,000 | 114,000,000 | 114,000,000 | 113,000,000 | -240,000,000 | 118,000,000 | |
| EBITDA | $605M | $546M | · | $528M | $581M | $486M | · | $455M | $472M | $416M | · | $453M | $460M | $412M | · | $500M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $626M | $393M | $420M | $432M | $319M | $188M | $549M | $764M | $271M | $474M | · | $143M | $126M | $175M | · | $700M | |
| Receivables | $1.67B | $1.59B | $1.41B | $1.46B | $1.42B | $1.40B | $1.30B | $1.38B | $1.32B | $1.32B | · | $1.28B | $1.24B | $1.25B | · | $1.28B | |
| Inventory | $233M | $225M | $189M | $186M | $187M | $189M | $188M | $184M | $182M | $181M | · | $184M | $184M | $190M | · | $183M | |
| Prepaid Expense | $319M | $361M | $361M | $333M | $273M | $294M | $351M | $299M | $245M | $251M | · | $207M | $188M | $195M | · | $171M | |
| Current Assets | $2.84B | $2.57B | $2.38B | $2.41B | $2.20B | $2.08B | $2.39B | $2.62B | $2.02B | $2.23B | · | $1.81B | $1.73B | $1.81B | · | $2.33B | |
| PP&E (Net) | $2.22B | $2.19B | $2.20B | $2.15B | $2.12B | $2.10B | $2.11B | $2.09B | $1.83B | $1.81B | · | $1.83B | $1.81B | $1.79B | · | $1.71B | |
| PP&E (Gross) | · | · | $6.18B | · | · | · | $5.77B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $3.97B | · | · | · | $3.66B | · | · | · | · | · | · | · | · | · | |
| Goodwill | $9.11B | $9.12B | $8.95B | $8.90B | $8.88B | $8.85B | $8.86B | $8.61B | $7.88B | $7.83B | $7.73B | $7.73B | $7.73B | $7.24B | $7.22B | $7.19B | |
| Intangibles | $1.67B | $1.72B | $1.64B | $1.66B | $1.71B | $1.73B | $1.76B | $1.72B | $1.20B | $1.19B | · | $1.22B | $1.25B | $1.08B | · | $1.11B | |
| Other Non-current Assets | $277M | $256M | $270M | $296M | $271M | $260M | $255M | $272M | $216M | $182M | · | $149M | $152M | $150M | · | $132M | |
| Total Assets | $16.94B | $16.67B | $16.23B | $16.20B | $15.97B | $15.80B | $16.15B | $16.09B | $13.88B | $13.95B | · | $13.48B | $13.43B | $12.79B | · | $13.22B | |
| Accounts Payable | $1.60B | $1.50B | $1.60B | $1.46B | $1.35B | $1.27B | $1.39B | $1.31B | $1.25B | $1.24B | · | $1.16B | $1.20B | $1.20B | · | $1.45B | |
| Accrued Liabilities | · | · | $338M | · | · | · | $306M | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $1.79B | $2.18B | $2.28B | $2.13B | $2.02B | $1.44B | $2.17B | $2.09B | $2.01B | $2.30B | · | $1.62B | $1.88B | $1.35B | · | $1.60B | |
| Capital Leases | $561M | $574M | $537M | $534M | $540M | $538M | $535M | $543M | $507M | $489M | · | $505M | $508M | $490M | · | $505M | |
| Other Non-current Liabilities | $1.06B | $1.02B | $957M | $982M | $890M | $917M | $938M | $891M | $811M | $817M | · | $874M | $901M | $809M | · | $787M | |
| Long-term Debt | $5.64B | · | $5.67B | · | · | · | $6.22B | $6.25B | · | · | · | · | · | · | · | · | |
| Total Debt | $5.64B | $503M | · | $504M | $504M | $1M | · | $6.25B | $606M | $906M | · | $304M | $518M | $2M | · | $2M | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Retained Earnings | $10.37B | $10.15B | $9.99B | $9.84B | $9.68B | $9.49B | $9.36B | $9.22B | $9.08B | $8.94B | · | $8.71B | $8.57B | $8.41B | · | $8.26B | |
| Treasury Stock | $5.17B | $5.09B | $5.18B | $4.90B | $4.77B | $4.79B | $4.86B | $4.73B | $4.76B | $4.78B | · | $4.57B | $4.59B | $4.61B | · | $4.27B | |
| AOCI | $-62M | $-43M | $-27M | $-40M | $-16M | $-83M | $-88M | $-15M | $-19M | $-16M | · | $-20M | $-16M | $-18M | · | $-31M | |
| Stockholders' Equity | $7.52B | $7.37B | $7.17B | $7.26B | $7.23B | $6.93B | $6.78B | $6.81B | $6.62B | $6.43B | · | $6.42B | $6.25B | $6.05B | · | $6.24B | |
| Liabilities + Equity | $16.94B | $16.67B | $16.23B | $16.20B | $15.97B | $15.80B | $16.15B | $16.09B | $13.88B | $13.95B | · | $13.48B | $13.43B | $12.79B | · | $13.22B | |
| Shares Outstanding | 110,000,000 | 111,000,000 | 110,000,000 | 111,000,000 | 112,000,000 | 112,000,000 | 111,000,000 | 112,000,000 | 111,000,000 | 111,000,000 | 111,000,000 | 112,000,000 | 112,000,000 | 112,000,000 | 111,000,000 | 114,000,000 |
Cash Flow 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $146M | $147M | $145M | $142M | $143M | $140M | $135M | $125M | $117M | $116M | $109M | $111M | $112M | $107M | $116M | $108M | |
| Stock-based Comp | $23M | $20M | $25M | $20M | $21M | $22M | $27M | $19M | $20M | $22M | $19M | $18M | $16M | $24M | $22M | $18M | |
| Deferred Tax | $-2M | $48M | $-13M | $110M | $1M | $7M | $34M | $15M | $-18M | $-18M | $-10M | $-23M | $-12M | $-4M | $-44M | $65M | |
| Amort. of Intangibles | $38M | $37M | $37M | $39M | $39M | $39M | $37M | $32M | $29M | $29M | $27M | $27M | $28M | $26M | $39M | $27M | |
| Restructuring | · | · | · | $6M | $1M | · | · | $7M | $8M | · | · | $1M | $1M | · | · | · | |
| Other Non-cash | · | $-189M | · | · | · | $-75M | · | · | · | $-160M | · | · | · | $-235M | · | · | |
| Operating Cash Flow | $597M | $278M | $465M | $563M | $544M | $314M | $464M | $356M | $360M | $154M | $527M | $207M | $444M | $94M | $334M | $502M | |
| CapEx | $138M | $114M | $158M | $144M | $108M | $117M | $123M | $106M | $92M | $104M | $72M | $105M | $104M | $127M | $147M | $118M | |
| Investing Cash Flow | $-134M | $-152M | $-191M | $-201M | $-124M | $-115M | $-502M | $-1.63B | $-200M | $-213M | $-114M | $-107M | $-682M | $-158M | $-174M | $-118M | |
| Stock Repurchased | · | · | $300M | $150M | · | · | $151M | · | · | · | $275M | $0 | $0 | $0 | $461M | $374M | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Dividends Paid | $96M | $88M | $90M | $89M | $90M | $84M | $84M | $84M | $84M | $79M | $80M | $80M | $80M | $74M | $75M | $78M | |
| Financing Cash Flow | $-229M | $-152M | $-287M | $-247M | $-293M | $-561M | $-170M | $1.77B | $-363M | $-153M | $130M | $-83M | $189M | $-76M | $-545M | $-474M | |
| Net Change in Cash | $233M | $-27M | $-12M | $113M | $131M | $-361M | $-215M | $493M | $-203M | $-212M | $543M | $17M | $-49M | $-140M | $-385M | $-90M | |
| Free Cash Flow | · | $164M | · | · | · | $197M | · | · | · | $50M | · | · | · | $-33M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $13M | · | · | · | $-61M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 15.1% | 13.8% | · | 13.7% | 15.9% | 13.1% | · | 13.3% | 14.8% | 12.7% | · | 14.9% | 14.9% | 13.1% | · | 15.8% | |
| Net Margin | 10.5% | 8.7% | · | 8.7% | 10.2% | 8.3% | · | 9.1% | 9.6% | 8.2% | · | 9.8% | 10.1% | 8.7% | · | 10.3% | |
| Pretax Margin | 13.5% | 11.5% | · | 11.7% | 13.9% | 10.4% | · | 11.9% | 13.1% | 11.2% | · | 13.0% | 13.6% | 11.9% | · | 14.1% | |
| EBITDA Margin | 19.9% | 18.9% | · | 18.8% | 21.0% | 18.3% | · | 18.3% | 19.7% | 17.6% | · | 19.7% | 19.7% | 17.7% | · | 20.1% | |
| ROA | 1.9% | 1.6% | · | 1.5% | 1.9% | 1.5% | · | 1.5% | 1.7% | 1.5% | · | 1.7% | 1.8% | 1.5% | · | 1.9% | |
| ROE | 4.3% | 3.5% | · | 3.5% | 4.1% | 3.3% | · | 3.4% | 3.6% | 3.1% | · | 3.5% | 3.7% | 3.2% | · | 4.0% | |
| ROIC | 2.7% | 4.0% | · | 3.8% | 4.2% | 3.9% | · | 2.0% | 3.8% | 3.1% | · | 3.9% | 3.9% | 3.9% | · | 4.8% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.2 | · | 1.1 | 1.1 | 1.4 | · | 1.3 | 1.0 | 1.0 | · | 1.1 | 0.9 | 1.3 | · | 1.5 | |
| Quick Ratio | 1.3 | 0.9 | · | 0.9 | 0.9 | 1.1 | · | 1.0 | 0.8 | 0.8 | · | 0.9 | 0.7 | 1.1 | · | 1.2 | |
| Debt / Equity | 0.8 | 0.1 | · | 0.1 | 0.1 | 0.0 | · | 0.9 | 0.1 | 0.1 | · | 0.0 | 0.1 | 0.0 | · | 0.0 | |
| LT Debt / Equity | 0.7 | · | · | · | · | · | · | 0.8 | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | 7.6 | 6.1 | · | 8.3 | 8.9 | 8.2 | · | 10.6 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Inventory Turnover | 9.6 | 9.4 | · | 10.1 | 9.9 | 9.7 | · | 9.1 | 8.7 | 8.6 | · | 8.4 | 8.3 | 8.1 | · | 8.3 | |
| Receivables Turnover | 2.0 | 1.9 | · | 2.0 | 2.0 | 1.9 | · | 1.9 | 1.9 | 1.8 | · | 1.8 | 1.8 | 1.8 | · | 1.8 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $11.52B | $11.12B | · | $10.72B | $10.30B | $9.90B | · | $9.55B | $9.40B | $9.33B | · | $9.45B | $9.61B | $9.88B | · | $10.32B | |
| Net Income TTM | $1.10B | $999M | · | $973M | $957M | $869M | · | $874M | $883M | $856M | · | $918M | $927M | $1.05B | · | $1.35B | |
| Market Cap | $23.31B | $21.75B | · | $21.15B | $20.12B | $18.95B | · | $17.39B | $15.19B | $14.78B | · | $13.65B | $15.74B | $15.85B | · | $13.99B | |
| Enterprise Value | $28.33B | $21.86B | · | $21.23B | $20.30B | $18.76B | · | $22.88B | $15.53B | $15.21B | · | $13.81B | $16.13B | $15.67B | · | $13.29B | |
| P/E | 21.8 | 22.2 | · | 22.3 | 21.3 | 22.0 | · | 20.2 | 17.6 | 17.7 | · | 15.3 | 17.7 | 16.0 | · | 11.1 | |
| P/S | 2.0 | 2.0 | · | 2.0 | 2.0 | 1.9 | · | 1.8 | 1.6 | 1.6 | · | 1.4 | 1.6 | 1.6 | · | 1.4 | |
| P/B | 3.1 | 3.0 | · | 2.9 | 2.8 | 2.7 | · | 2.6 | 2.3 | 2.3 | · | 2.1 | 2.5 | 2.6 | · | 2.2 | |
| P / Cash Flow | · | 78.3 | · | · | · | 60.4 | · | · | · | 95.9 | · | · | · | 168.6 | · | · | |
| P / FCF | · | 132.6 | · | · | · | 96.2 | · | · | · | 295.5 | · | · | · | -480.2 | · | · | |
| EV / EBITDA | 46.8 | 40.0 | · | 40.2 | 34.9 | 38.6 | · | 50.3 | 32.9 | 36.6 | · | 30.5 | 35.1 | 38.0 | · | 26.6 | |
| EV / FCF | · | 133.3 | · | · | · | 95.2 | · | · | · | 304.1 | · | · | · | -474.9 | · | · | |
| EV / Revenue | 2.5 | 2.0 | · | 2.0 | 2.0 | 1.9 | · | 2.4 | 1.7 | 1.6 | · | 1.5 | 1.7 | 1.6 | · | 1.3 | |
| Earnings Yield | 4.6% | 4.5% | · | 4.5% | 4.7% | 4.5% | · | 5.0% | 5.7% | 5.6% | · | 6.5% | 5.7% | 6.2% | · | 9.0% | |
| Payout Ratio | · | 34.9% | · | · | · | 38.2% | · | · | · | 40.7% | · | · | · | 36.6% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $11.04B | $9.87B | $9.25B | $9.88B | $10.79B |
| Operating Margin % | 14.1% | 13.6% | 13.6% | 14.4% | 22.1% |
| Net Income | $992M | $871M | $854M | $946M | $2.00B |
| Diluted EPS | $8.75 | $7.69 | $7.49 | $7.97 | $15.55 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.8 | 0.9 | 0.7 | 0.7 | 0.6 |
| Current Ratio | 1.0 | 1.1 | 1.3 | 1.2 | 1.6 |
| Quick Ratio | 0.8 | 0.9 | 1.0 | 1.0 | 1.3 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.36B | $909M | $864M | $1.31B | $1.83B |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 1,175 filers · $12.9B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 121 (-13 vs prior Q) | 63 (-19 vs prior Q) | 408 (+62 vs prior Q) | 330 (-21 vs prior Q) | +21.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $1,533,117,858 | 7,233,394 | 11.92% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,299,474,988 | 6,131,045 | 10.11% | Shares |
| STATE STREET CORP | $1,169,252,484 | 5,516,643 | 9.09% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $584,135,885 | 2,767,754 | 4.54% | Shares |
| EdgePoint Investment Group Inc. | $476,372,038 | 2,247,568 | 3.71% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $400,206,122 | 1,888,207 | 3.11% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $357,050,202 | 1,684,597 | 2.78% | Shares |
| Davis Selected Advisers | $329,781,509 | 1,555,612 | 2.57% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $311,037,928 | 1,467,506 | 2.42% | Shares |
| NORGES BANK | $298,133,109 | 1,406,620 | 2.32% | Shares |
| FMR LLC | $227,315,614 | 1,072,496 | 1.77% | Shares |
| AMERICAN CENTURY COMPANIES INC | $173,422,135 | 818,220 | 1.35% | Shares |
| M&G PLC | $168,677,800 | 795,650 | 1.31% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $131,756,386 | 621,639 | 1.02% | Shares |
| ALLIANCEBERNSTEIN L.P. | $122,662,706 | 625,894 | 0.95% | Shares |
| AMERIPRISE FINANCIAL INC | $109,652,758 | 517,352 | 0.85% | Shares |
| Woodline Partners LP | $102,974,000 | 485,841 | 0.80% | Shares |
| FIDUCIARY MANAGEMENT INC /WI/ | $102,489,906 | 483,557 | 0.80% | Shares |
| Artemis Investment Management LLP | $99,175,856 | 467,921 | 0.77% | Shares |
| CRAWFORD INVESTMENT COUNSEL INC | $97,514,204 | 460,081 | 0.76% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $91,995,201 | 434,042 | 0.72% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $90,834,224 | 428,564 | 0.71% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $86,608,697 | 407,302 | 0.67% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $83,772,178 | 395,245 | 0.65% | Shares |
| M.D. Sass, LLC | $76,397,960 | 360,453 | 0.59% | Shares |
| Qube Research & Technologies Ltd | $72,783,206 | 343,398 | 0.57% | Shares |
| MACKENZIE FINANCIAL CORP | $70,641,875 | 333,295 | 0.55% | Shares |
| Advisors Capital Management, LLC | $69,429,626 | 327,575 | 0.54% | Shares |
| Swiss National Bank | $65,683,305 | 309,900 | 0.51% | Shares |
| Balyasny Asset Management L.P. | $58,364,883 | 275,371 | 0.45% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $56,877,630 | 268,354 | 0.44% | Shares |
| RHUMBLINE ADVISERS | $56,744,612 | 267,727 | 0.44% | Shares |
| BlackRock, Inc. | $55,976,419 | 264,102 | 0.44% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $54,809,634 | 258,597 | 0.43% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $53,654,295 | 253,146 | 0.42% | Shares |
| Quantinno Capital Management LP | $53,607,358 | 252,924 | 0.42% | Shares |
| RAYMOND JAMES FINANCIAL INC | $53,249,860 | 251,238 | 0.41% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $52,211,551 | 246,339 | 0.41% | Shares |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. | $51,484,139 | 242,907 | 0.40% | Shares |
| Clark Capital Management Group, Inc. | $51,259,362 | 241,846 | 0.40% | Shares |
| Vanguard Global Advisers, LLC | $51,025,267 | 240,742 | 0.40% | Shares |
| Legal & General Group Plc | $50,185,731 | 236,781 | 0.39% | Shares |
| FIL Ltd | $49,419,958 | 233,168 | 0.38% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $49,341,000 | 232,797 | 0.38% | Shares |
| Eurizon Capital SGR S.p.A. | $47,173,414 | 222,564 | 0.37% | Shares |
| BARCLAYS PLC | $45,003,978 | 212,333 | 0.35% | Shares |
| PFA Pension, Forsikringsaktieselskab | $43,579,660 | 205,613 | 0.34% | Shares |
| Integral Health Asset Management, LLC | $42,390,000 | 200,000 | 0.33% | Shares |
| California Public Employees Retirement System | $41,574,204 | 196,151 | 0.32% | Shares |
| CONNING INC. | $39,578,271 | 186,734 | 0.31% | Shares |
| SEB Asset Management AB | $38,766,863 | 182,906 | 0.30% | Shares |
| BANK OF MONTREAL /CAN/ | $38,512,587 | 181,706 | 0.30% | Shares |
| GOLDMAN SACHS GROUP INC | $38,322,295 | 180,808 | 0.30% | Shares |
| Boston Partners | $35,509,632 | 167,514 | 0.28% | Shares |
| Focus Partners Wealth | $34,616,947 | 163,327 | 0.27% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $34,117,592 | 160,970 | 0.27% | Shares |
| COOKSON PEIRCE & CO INC | $32,977,089 | 155,589 | 0.26% | Shares |
| UBS Group AG | $32,934,699 | 155,389 | 0.26% | Shares |
| BRAUN STACEY ASSOCIATES INC | $32,724,232 | 154,396 | 0.25% | Shares |
| Willis Investment Counsel | $32,110,425 | 151,500 | 0.25% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $31,795,403 | 162,238 | 0.25% | Shares |
| LPL Financial LLC | $30,325,576 | 143,079 | 0.24% | Shares |
| APG Asset Management N.V. | $27,869,580 | 150,334 | 0.22% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $26,893,912 | 126,888 | 0.21% | Shares |
| &PARTNERS | $26,382,365 | 124,363 | 0.21% | Shares |
| JANE STREET GROUP, LLC | $25,942,680 | 122,400 | 0.20% | Call option |
| BANK OF AMERICA CORP /DE/ | $25,492,499 | 120,276 | 0.20% | Shares |
| Candriam S.C.A. | $25,459,925 | 120,238 | 0.20% | Shares |
| Squarepoint Ops LLC | $24,974,280 | 117,831 | 0.19% | Shares |
| Gotham Asset Management, LLC | $24,911,119 | 117,533 | 0.19% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $24,607,896 | 116,373 | 0.19% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $24,569,456 | 115,921 | 0.19% | Shares |
| Robeco Institutional Asset Management B.V. | $23,854,123 | 112,546 | 0.19% | Shares |
| AEGON ASSET MANAGEMENT UK Plc | $22,866,862 | 107,888 | 0.18% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $22,670,926 | 106,964 | 0.18% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $22,530,921 | 106,303 | 0.18% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $22,064,117 | 104,101 | 0.17% | Shares |
| Moran Wealth Management, LLC | $22,053,609 | 104,051 | 0.17% | Shares |
| ABN AMRO Bank N.V. | $21,523,733 | 101,667 | 0.17% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $21,496,202 | 123,876 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $21,322,170 | 100,600 | 0.17% | Call option |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $21,146,252 | 99,770 | 0.16% | Shares |
| AVIVA PLC | $20,378,569 | 96,148 | 0.16% | Shares |
| SCHWARTZ INVESTMENT COUNSEL INC | $20,326,005 | 95,900 | 0.16% | Shares |
| Boston Common Asset Management, LLC | $20,282,767 | 95,696 | 0.16% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $20,146,790 | 95,054 | 0.16% | Shares |
| Midwest Trust Co | $20,113,207 | 94,896 | 0.16% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $20,035,210 | 94,528 | 0.16% | Shares |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND | $19,842,759 | 93,620 | 0.15% | Shares |
| BLAIR WILLIAM & CO/IL | $19,773,115 | 93,291 | 0.15% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $19,613,005 | 92,536 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,160,280 | 90,400 | 0.15% | Put option |
| CITADEL ADVISORS LLC | $18,821,160 | 88,800 | 0.15% | Call option |
| WELLINGTON MANAGEMENT GROUP LLP | $17,507,282 | 82,601 | 0.14% | Shares |
| Foundry Partners, LLC | $17,338,432 | 102,473 | 0.13% | Shares |
| MARSHALL WACE, LLP | $17,187,874 | 81,094 | 0.13% | Shares |
| Coho Partners, Ltd. | $16,981,317 | 89,103 | 0.13% | Shares |
| Copeland Capital Management, LLC | $16,902,800 | 79,749 | 0.13% | Shares |
| CIBC Asset Management Inc | $16,674,318 | 78,671 | 0.13% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $16,558,594 | 78,125 | 0.13% | Shares |
Company insiders 53 insiders · 26 officers · 26 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| E. J. Davis | CEO and President | June 1, 2026 S | 132,423 | 0 | 5 | $-14,656,302 |
| Surya N Mohapatra | Chairman, President & CEO | April 30, 2012 F | 243,713 | 0 | 0 | $0 |
| Sam Samad | Executive Vice President & CFO | July 22, 2026 A | 33,478 | 0 | 0 | $0 |
| Mark Guinan | Executive Vice President & CFO | March 7, 2022 F | 98,981 | 0 | 0 | $0 |
| Robert Hagemann | SVP & Chief Financial Officer | March 5, 2013 F | 126,722 | 0 | 0 | $0 |
| Mark E Delaney | SVP & Chief Commercial Officer | July 28, 2026 S | 10,335 | 0 | 1 | $-376,288 |
| Karthik Kuppusamy | SVP, Clinical Solutions | July 22, 2026 L | 13,557 | 0 | 2 | $-2,167,772 |
| Patrick Plewman | SVP for Diagnostic Services | July 22, 2026 L | 15,293 | 0 | 5 | $-3,023,678 |
| Catherine T. Doherty | EVP, Regional Businesses | March 5, 2026 S | 67,122 | 0 | 7 | $-6,671,228 |
| Michael E Prevoznik | SVP & General Counsel | March 5, 2026 S | 37,557 | 0 | 7 | $-6,505,199 |
| Michael J Deppe | SVP, Corp. Controller & CAO | March 4, 2026 F | 35,196 | 0 | 0 | $0 |
| Mark A Gardner | SVP of Molecular Gen & Oncol | Sept. 24, 2024 F | 4,673 | 0 | 0 | $0 |
| Manner Carrie Eglinton | SVP, Advanced Diagnostics | March 7, 2022 F | 48,391 | 0 | 0 | $0 |
| Manuel O. Mendez | SVP & Chief Commercial Officer | Feb. 17, 2021 A | 29,045 | 0 | 0 | $0 |
| Robert A Klug | VP, Corporate Controller | March 1, 2019 F | 6,261 | 0 | 0 | $0 |
| Jon R Cohen | SVP & Group Exec. Diag. Sol. | March 8, 2018 M | 31,757 | 0 | 0 | $0 |
| Everett Cunningham | SVP, Commercial | March 1, 2018 G | 37,760 | 0 | 0 | $0 |
| Thomas F Bongiorno | VP and Corporate Controller | March 2, 2015 F | 11,837 | 0 | 0 | $0 |
| John B. Haydon | SVP, Operations | Feb. 13, 2014 A | 19,890 | 0 | 0 | $0 |
| Kathy Ordonez | SVP, Diagnostic Solutions | March 31, 2013 F | 9,569 | 0 | 0 | $0 |
| Joan Elizabeth Miller | SVP-Oncology & Neurology Srvcs | Feb. 29, 2012 F | 89,232 | 0 | 0 | $0 |
| Wayne R. Simmons | Vice President, Operations | June 16, 2011 M | 47,150 | 0 | 0 | $0 |
| Robert E Peters | VP, Sales & Marketing | Feb. 12, 2007 A | 12,974 | 0 | 0 | $0 |
| David M Zewe | SVP, Diagnostic Testing Ops | Feb. 12, 2007 A | 31,079 | 0 | 0 | $0 |
| GRANT THOMAS W II | Sr VP, Ins. & Employer Serv. | Feb. 12, 2007 A | — | 0 | 0 | $0 |
| Gerald C Marrone | SVP, Administration | Feb. 28, 2004 F | 49,609 | 0 | 0 | $0 |
| Wright Lassiter III | Director | July 22, 2026 L | 10,323 | 0 | 0 | $0 |
| Vicky B Gregg | Director | July 22, 2026 A | 18,386 | 0 | 1 | $-239,700 |
| Robert B Carter | Director | July 22, 2026 L | 3,864 | 0 | 0 | $0 |
| Timothy L Main | Director | July 22, 2026 L | 22,460 | 0 | 0 | $0 |
| Timothy C Wentworth | Director | July 1, 2026 A | 1,358 | 0 | 0 | $0 |
| Timothy M Ring | Director | May 20, 2026 A | 31,140 | 0 | 0 | $0 |
| Gary M Pfeiffer | Director | May 20, 2026 A | 31,005 | 0 | 1 | $-270,317 |
| Luis Diaz | Director | May 15, 2025 A | 4,054 | 0 | 0 | $0 |
| Tracey Doi | Director | May 15, 2025 A | 6,490 | 0 | 0 | $0 |
| Gail R Wilensky | Director | May 17, 2023 A | 20,506 | 0 | 0 | $0 |
| Stephen H Rusckowski | Director | March 6, 2023 F | 389,597 | 0 | 0 | $0 |
| Helen Torley | Director | May 25, 2021 A | 6,260 | 0 | 0 | $0 |
| Daniel Stanzione | Director | Nov. 23, 2020 S | 28,349 | 0 | 0 | $0 |
| Jenne K Britell | Director | June 4, 2018 G | 14,479 | 0 | 0 | $0 |
| Jeffrey M Leiden | Director | May 29, 2018 S | 6,000 | 0 | 0 | $0 |
| John B Ziegler | Director | Feb. 22, 2017 S | 16,557 | 0 | 0 | $0 |
| John C Baldwin MD | Director | Aug. 12, 2015 S | 12,949 | 0 | 0 | $0 |
| William F Buehler | Director | Feb. 12, 2014 M | 26,225 | 0 | 0 | $0 |
| GSK plc | Director | Jan. 31, 2011 S | 0 | 0 | 0 | $0 |
| Rosanne Haggerty | Director | May 6, 2010 A | 9,334 | 0 | 0 | $0 |
| William R Grant | Director | April 1, 2007 A | 3,334 | 0 | 0 | $0 |
| James F Flaherty III | Director | May 4, 2006 A | 1,667 | 0 | 0 | $0 |
| Kenneth D Brody | Director | April 28, 2004 S | 0 | 0 | 0 | $0 |
| Mary A Cirillo | Director | April 1, 2004 A | 2,627 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 13 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Quest Diagnostics Incorporated | May 18, 2011 | — | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person | Feb. 1, 2011 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | March 20, 2009 | — | Initial filing | — | SEC |
| GlaxoSmithKline plc ×2 filings | Sept. 18, 2008 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Feb. 16, 2007 | — | Initial filing | — | SEC |
| Quest Diagnostics Incorporated - (FEIN No. ×2 filings | Jan. 19, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Dec. 15, 2004 | — | Initial filing | — | SEC |
| Undisclosed reporting person | June 29, 2004 | — | Initial filing | — | SEC |
| Undisclosed reporting person | June 24, 2002 | — | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person | May 22, 2002 | — | Initial filing | — | SEC |
| Undisclosed reporting person | April 12, 2002 | — | Initial filing | M&A / sale | SEC |
| IRS Identification Nos. of Above Persons (entities only) Quest Diagnostics Ventures LLC - (FEIN No., Quest Diagnostics Incorporated - (FEIN No. ×3 filings | Nov. 1, 2001 | — | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person | May 14, 2001 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 183 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IHF · iShares Trust | 3.91% | 203,179 SH | Aug. 8, 2026 | Daily |
| RSPH · Invesco Exchange-Traded Fund Trust | 1.77% | 58,107 SH | Aug. 8, 2026 | Daily |
| FXH · First Trust Exchange-Traded AlphaDE… | 1.29% | 57,932 NS | April 30, 2026 | N-PORT |
| CZA · Invesco Exchange-Traded Fund Trust | 1.22% | 9,813 SH | Aug. 8, 2026 | Daily |
| TMFX · RBB Fund, Inc. | 1.05% | 1,724 NS | May 31, 2026 | N-PORT |
| ANEW · ProShares Trust | 0.92% | 364 NS | May 31, 2026 | N-PORT |
| QLTY · GMO ETF Trust | 0.85% | 196,208 NS | May 31, 2026 | N-PORT |
| ALTL · Pacer Funds Trust | 0.82% | 4,047 NS | April 30, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 0.80% | 635 NS | April 30, 2026 | N-PORT |
| SPVM · Invesco Exchange-Traded Fund Trust | 0.76% | 4,201 SH | Aug. 8, 2026 | Daily |
| QLV · FlexShares Trust | 0.74% | 6,461 NS | April 30, 2026 | N-PORT |
| GDOC · Goldman Sachs ETF Trust | 0.72% | 741 NS | May 31, 2026 | N-PORT |
| ESMV · iShares Trust | 0.72% | 236 SH | Aug. 8, 2026 | Daily |
| HUSV · First Trust Exchange-Traded Fund III | 0.52% | 1,956 NS | April 30, 2026 | N-PORT |
| ITAN · EA Series Trust | 0.46% | 2,110 NS | May 29, 2026 | N-PORT |
| QQWZ · Pacer Funds Trust | 0.44% | 1,055 NS | April 30, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.44% | 409,814 NS | April 30, 2026 | N-PORT |
| IYH · iShares Trust | 0.43% | 66,179 SH | Aug. 8, 2026 | Daily |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.41% | 3,999 NS | May 31, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 0.40% | 711,079 SH | Aug. 8, 2026 | Daily |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.38% | 8,682 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.37% | 8,368 NS | April 30, 2026 | N-PORT |
| IMCV · iShares Trust | 0.37% | 17,734 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.35% | 51,278 NS | April 30, 2026 | N-PORT |
| SUSA · iShares Trust | 0.35% | 60,308 SH | Aug. 8, 2026 | Daily |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.34% | 23,030 NS | April 30, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.34% | 330,273 SH | Aug. 8, 2026 | Daily |
| IXJ · iShares Trust | 0.33% | 58,047 SH | Aug. 8, 2026 | Daily |
| RXL · ProShares Trust | 0.31% | 1,147 NS | May 31, 2026 | N-PORT |
| CURE · Direxion Shares ETF Trust | 0.31% | 2,194 NS | April 30, 2026 | N-PORT |
| GNOM · Global X Funds | 0.28% | 789 NS | May 31, 2026 | N-PORT |
| DFLV · Dimensional ETF Trust | 0.26% | 79,983 NS | April 30, 2026 | N-PORT |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.26% | 7,703,000 | Aug. 8, 2026 | Daily |
| IWS · iShares Trust | 0.25% | 166,611 SH | Aug. 8, 2026 | Daily |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.24% | 18,806 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.24% | 8,995 NS | April 30, 2026 | N-PORT |
| EQIN · Columbia ETF Trust I | 0.23% | 3,340 NS | April 30, 2026 | N-PORT |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 26,229 NS | April 30, 2026 | N-PORT |
| SIZE · iShares Trust | 0.23% | 4,242 SH | Aug. 8, 2026 | Daily |
| VO · VANGUARD INDEX FUNDS | 0.23% | 2,398,948 SH | Aug. 8, 2026 | Daily |
| BFOR · ALPS ETF Trust | 0.22% | 2,467 NS | May 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.22% | 17,880 SH | Aug. 8, 2026 | Daily |
| DFVE · DoubleLine ETF Trust | 0.22% | 307 NS | March 31, 2026 | N-PORT |
| VFMV · VANGUARD WELLINGTON FUND | 0.22% | 4,307 SH | Aug. 8, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.22% | 910,753 SH | Aug. 8, 2026 | Daily |
| GSEW · Goldman Sachs ETF Trust | 0.20% | 18,310 NS | May 31, 2026 | N-PORT |
| ACWV · iShares, Inc. | 0.20% | 28,277 SH | Aug. 8, 2026 | Daily |
| DEUS · DBX ETF Trust | 0.20% | 2,734 NS | May 29, 2026 | N-PORT |
| IWR · iShares Trust | 0.19% | 449,590 SH | Aug. 8, 2026 | Daily |
| IMCB · iShares Trust | 0.18% | 12,737 SH | Aug. 8, 2026 | Daily |