Quest Diagnostics (DGX) 10-K Summary — Year Ended Dec 31, 2024
The company reported an increase in revenue and operating cash flow for the most recent period. Net income and operating income were positive, though cash decreased due to investing activities.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
The company reported an increase in revenue and operating cash flow for the most recent period. Net income and operating income were positive, though cash decreased due to investing activities.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$9.9B
Revenue reported for the fiscal year.
Operating income
$1.3B
Income from operations reported for the year.
Net income
$871M
Net income reported for the year.
Operating cash flow
$1.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $10.8B | n/a |
| Dec 31, 2022 | $9.9B | -8.4% |
| Dec 31, 2023 | $9.3B | -6.4% |
| Dec 31, 2024 | $9.9B | +6.7% |
Business overview
The company provides clinical testing services, as outlined in the Business section, which covers its operations, the clinical testing industry, and regulatory environment. The filing describes the company's strategy and strengths within this industry.
Financial performance
Revenue grew compared to the prior year after declining in the two preceding years. Operating income and net income were reported at healthy levels. Cash flow from operations also increased year over year.
Material risks
The filing identifies risk factors and cautionary factors that may affect future results, as detailed in Item 1A. These include general industry and regulatory risks.
Liquidity and capital
Operating cash flow improved, but investing outflows rose significantly, primarily for business acquisitions, leading to a net decrease in cash. A portion of cash is held outside the United States.
What to watch
Monitor the company's billing and collection efficiency, as measured by days sales outstanding, in the next filing.