What is the primary revenue source for Quest Diagnostics (DGX)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze DGX's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Quest Diagnostics's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Quest Diagnostics Makes Money: DGX Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

The largest revenue segment accounts for 97.84% of revenue, indicating concentration.

Revenue: USD 5.94B
Largest revenue segment share (Diagnostic Information Services Business): 97.84%
Cost of revenue: USD 3.97B
Selling, general and administrative: USD 1.03B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Largest revenue segment share (Diagnostic Information Services Business)Diagnostic Information Services Business · segment_value / revenue * 100
RevenueNet revenues · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueCost of services · CostOfRevenue
Selling, general and administrativeSelling, general and administrative · SellingGeneralAndAdministrativeExpense

Assets

Where is the money tied up, and how is the company financed?

Watch

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Goodwill accounts for 53.79% of total assets, a high share where impairment could hit earnings and equity.

Goodwill: USD 9.11B
Property, plant and equipment: USD 2.22B
Accounts receivable: USD 1.67B
Shareholder equity: USD 7.82B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Shareholder equityTotal stockholders’ equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Accounts receivableAccounts receivable, net of allowance for credit losses of $28 and $25 as of june 30, 2026 and december 31, 2025, respectively · AccountsReceivableNetCurrent
GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty, plant and equipment, net · PropertyPlantAndEquipmentNet

Some conclusions lack complete source metrics and should be interpreted cautiously.

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 152.97% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 572.00M
Operating cash flow: USD 875.00M
Cash conversion: 152.97%
Free cash flow: USD 623.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to quest diagnostics · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Cash dividends: USD 184.00M
Share repurchases: USD 102.00M
Stock issuance proceeds: USD 81.00M
Net shareholder return: USD 205.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)
Stock issuance proceedsExercise of stock options · ProceedsFromStockOptionsExercised · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?