Quest Diagnostics Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Quest Diagnostics Inc (DGX) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Quest Diagnostics Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 11,560M vs 149,450M combined for tracked competitors (7.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+5.3% annualized vs trailing 12 months), vs accelerating (+4.5%) for its tracked peer group.
- Growth: Quest Diagnostics Inc generated 10.2% revenue growth year over year in Q2 2026, vs 10.1% for its tracked competitors combined.
- Profitability: Its 11.0% net margin compares with 14.5% for the peer group.
- Scale: Quest Diagnostics Inc ranks #4 of 47 companies by market capitalization in the Medical Laboratories industry, holding 7.6% of industry market cap.
- Peer revenue share: Quest Diagnostics Inc accounted for 7.2% of combined revenue among its tracked peer group, up from 7.2% a year earlier.
- Peer differentiation: Revenue per employee of $0.20M compares with $0.41M for the peer group (0.5x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
DGX Sales vs. its Competitors, Q2 2026
Quest Diagnostics Inc reported revenue growth of 10.21 % year on year in Q2 2026, above its competitors' combined revenue growth of 10.11 %.
With a net margin of 10.98 %, Quest Diagnostics Inc reported lower profitability than its competitors (14.47 %).
Quest Diagnostics Inc generated 7.23 % of the combined sales of its peer group, up from 7.22 % a year earlier.
Quest Diagnostics Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Quest Diagnostics Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Quest Diagnostics Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Quest Diagnostics Inc's competitor groups requires a Commercial License.
For context: the Medical Laboratories industry grew revenue 5.7% year over year, combined, vs 10.2% for Quest Diagnostics Inc. Quest Diagnostics Inc's share of combined industry revenue moved from 5.08% to 5.29%, a gain of 0.22 percentage points.
Quest Diagnostics Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Quest Diagnostics Inc | Yes | Yes | Yes | No |
| Competitors combined (25) | ||||
| High-Confidence Competitors (8) | ||||
| Similar-Size Competitors (8) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 62.50 % (5 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
DGX Stock Performance relative to its Competitors
DGX Stock Performance relative to High-Confidence Competitors
DGX Stock Performance relative to Similar-Size Competitors
DGX Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Guardant Health Inc | 282.9% | Outperformed |
| 2 | Grail Inc | 282.9% | Outperformed |
| 3 | Natera Inc | 282.9% | Outperformed |
| 4 | Neogenomics Inc | 282.9% | Outperformed |
| 5 | Thermo Fisher Scientific Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Quest Diagnostics Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Quest Diagnostics Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Quest Diagnostics Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Quest Diagnostics Inc | 26,613.44 | 11,560.00 |
| Abbvie Inc | 471,581.88 | 64,386.00 |
| Thermo Fisher Scientific Inc | 251,760.60 | 46,336.00 |
| Natera Inc | 58,997.99 | 2,707.08 |
| Labcorp Holdings Inc | 25,442.96 | 14,348.00 |
| Guardant Health Inc | 23,561.31 | 1,183.11 |
| SUBTOTAL | 891,256.79 | 161,117.39 |
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Sources: Quest Diagnostics Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Quest Diagnostics Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Quest Diagnostics Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Veracyte Inc | Named by the company | 85% |
| Natera Inc | Named by the company | 85% |
| Guardant Health Inc | Named by the company | 85% |
| Myriad Genetics Inc | Named by the company | 85% |
| Fulgent Genetics Inc | Named by the company | 85% |
| Genedx Holdings Corp | Named by the company | 85% |
| Caris Life Sciences Inc | Named by the company | 85% |
| Precipio inc | Named by the company | 85% |
| APDN | Named by the company | 85% |
| Cue Health Inc | Named by the company | 85% |
| Prophase Labs Inc | Named by the company | 85% |
| Ainos Inc | Named by the company | 85% |
| Interpace Biosciences Inc | Named by the company | 85% |
| Neogenomics Inc | Named by the company | 85% |
| Exagen Inc | Named by the company | 85% |
| Bnb Plus Corp | Named by the company | 85% |
| Psychemedics Corporation | Named by the company | 85% |
| Accustem Sciences Inc | Named by the company | 85% |
| Opko Health Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Quest Diagnostics Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Quest Diagnostics Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Quest Diagnostics Inc | Diagnostic Information Services Business 97.86 % |
| Thermo Fisher Scientific Inc | Clinical Research 19.98 % |
| Natera Inc | Reportable 100.00 % |
| Labcorp Holdings Inc | Diagnostics 78.08 % |
| Guardant Health Inc | Reportable 100.00 % |
| Davita Inc | U. S. Dialysis And Related Lab Services 84.42 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Quest Diagnostics Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Quest Diagnostics Inc | 26,613 | 202,807 | 19,526 |
| Abbvie Inc | 471,582 | 1,129,579 | 110,807 |
| Thermo Fisher Scientific Inc | 251,761 | 370,688 | 55,912 |
| Natera Inc | 58,998 | 440,892 | -31,327 |
| Labcorp Holdings Inc | 25,443 | 204,971 | 14,336 |
| Guardant Health Inc | 23,561 | 472,109 | -180,940 |
| PEERS TOTAL | 864,643 | 409,660 | 38,804 |
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Quest Diagnostics Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Thermo Fisher Scientific Inc | North America 51.27 % |
| Natera Inc | United States 98.24 % |
| Guardant Health Inc | United States 94.35 % |
| Opko Health Inc | US 54.29 % |
| Fulgent Genetics Inc | Other countries 4.93 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Quest Diagnostics Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 42 companies in Quest Diagnostics Inc's industry classification, broader than the peer set above. Market cap in millions of $.Quest Diagnostics Inc ranks #4 of 42 companies by market capitalization in its industry, holding 7.58 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 860, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Natera Inc | 58,913 | 16.93 % |
| 2 | Iqvia Holdings Inc | 45,638 | 13.12 % |
| 3 | Ge Healthcare Technologies Inc | 30,422 | 8.74 % |
| 4 | Quest Diagnostics Inc | 26,362 | 7.58 % |
| 5 | Incyte Corporation | 1,234 | 5.2% |
| 6 | Labcorp Holdings Inc | 1,234 | 5.2% |
| 7 | Guardant Health Inc | 1,234 | 5.2% |
| 8 | Koninklijke Philips Nv | 1,234 | 5.2% |
| 9 | Medpace Holdings Inc | 1,234 | 5.2% |
| 10 | Charles River Laboratories International inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Quest Diagnostics Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Quest Diagnostics Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Natera Inc | 58,913 | 151.24 % |
| 2 | Iqvia Holdings Inc | 45,638 | 52.12 % |
| 3 | Ge Healthcare Technologies Inc | 30,422 | -6.90 % |
| 4 | Quest Diagnostics Inc | 26,362 | 26.96 % |
| 5 | Incyte Corporation | 1,234 | 12.3% |
| 6 | Labcorp Holdings Inc | 1,234 | 12.3% |
| 7 | Guardant Health Inc | 1,234 | 12.3% |
| 8 | Koninklijke Philips Nv | 1,234 | 12.3% |
| 9 | Medpace Holdings Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Quest Diagnostics Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Quest Diagnostics Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Laboratories industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (58 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 33.11 % | 43.57 % (avg) | -10.5 pp |
| Operating Margin | 14.10 % | industry median | +43.0 pp |
| EBITDA Margin | 18.94 % | -4.90 % (avg) | +23.8 pp |
| Capital Intensity (Capex / Revenue) | 4.79 % | 9.54 % (avg) | -4.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Quest Diagnostics Inc's Valuation vs Competitive Position
Valuation multiples vs the Medical Laboratories industry average (58 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 21.6x | 37.0x | -15.4x |
| EV / EBITDA | 12.8x | 18.0x | -5.2x |
| P/B | 3.0x | 2.9x | +0.1x |
| Return on Equity | 14.85 % | industry aggregate | 11.88 % |
| Return on Invested Capital | 7.64 % | -4.04 % (avg) | 11.68 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Quest Diagnostics Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -2.31 % | 2.59 % | 22.15 % | 14.32 % | -8.39 % | -6.38 % | 6.70 % | 11.78 % |
| Operating Margin | 3.20 % | 15.93 % | 20.89 % | 22.07 % | 14.45 % | 13.64 % | 13.63 % | 14.10 % |
| Return on Invested Capital | 1.62 % | 7.78 % | 10.86 % | 12.67 % | 8.04 % | 7.34 % | 7.19 % | 7.66 % |
| P/E | 16.7x | 16.9x | 11.9x | 9.8x | 18.9x | 18.1x | 20.2x | 20.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Quest Diagnostics Inc's Strategic Group Map
Every company in Quest Diagnostics Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Quest Diagnostics Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Quest Diagnostics Inc's BCG Growth-Share Matrix
Relative market share (vs Quest Diagnostics Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Quest Diagnostics Inc falls in the Dog quadrant: relative market share of 0.45x vs its largest competitor, in an industry growing revenue 5.8% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Quest Diagnostics Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 860 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 4.79 % vs industry average 9.54 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Quest Diagnostics Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Quest Diagnostics Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Quest Diagnostics Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Quest Diagnostics Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Quest Diagnostics Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 43.0 points above the industry median.
- Return on equity 11.9 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+5.3% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.45x).
Opportunities
- Trades at a lower P/E than the industry average (21.6x vs 37.0x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Quest Diagnostics Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Quest Diagnostics Inc | 0.22 | 1.22 | 0.76 |
| Abbvie Inc | 0.16 | 0.75 | - |
| Thermo Fisher Scientific Inc | 0.32 | 1.62 | 0.78 |
| Natera Inc | - | 3.14 | 0.05 |
| Labcorp Holdings Inc | 0.22 | 1.61 | 0.66 |
| Guardant Health Inc | 2.56 | 4.29 | - |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Quest Diagnostics Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Quest Diagnostics Inc | Q2 2026 | +10.2 % | +12.8 % |
| Abbvie Inc | Q2 2026 | +10.2 % | +284.3 % |
| Thermo Fisher Scientific Inc | Q2 2026 | +10.5 % | +7.6 % |
| Natera Inc | Q2 2026 | +37.7 % | - |
| Labcorp Holdings Inc | Q2 2026 | +5.8 % | +25.5 % |
| Guardant Health Inc | Q2 2026 | +44.3 % | - |
| PEERS TOTAL | +10.1 % | +139.4 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Quest Diagnostics Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Quest Diagnostics Inc | Q2 2026 | +10.9 % | +27.8 % |
| Abbvie Inc | Q2 2026 | -1.3 % | +19.7 % |
| Thermo Fisher Scientific Inc | Q2 2026 | +142.5 % | +53.1 % |
| Natera Inc | Q2 2026 | -99.3 % | +144.9 % |
| Labcorp Holdings Inc | Q2 2026 | +5.6 % | +68.9 % |
| Guardant Health Inc | Q2 2026 | +42.8 % | +108.2 % |
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Quest Diagnostics Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Quest Diagnostics Inc | 6.74% | 8.05% | 14.85% |
| Abbvie Inc | 4.68% | 9.11% | - |
| Thermo Fisher Scientific Inc | 6.36% | 7.71% | 13.37% |
| Natera Inc | - | - | - |
| Labcorp Holdings Inc | 5.40% | 6.11% | 11.58% |
| Guardant Health Inc | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Quest Diagnostics Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Quest Diagnostics Inc | 25.17 | 2.30 |
| Abbvie Inc | 75.22 | 7.32 |
| Thermo Fisher Scientific Inc | 36.52 | 5.43 |
| Natera Inc | - | 21.79 |
| Labcorp Holdings Inc | 25.69 | 1.77 |
| Guardant Health Inc | - | 19.91 |
| PEERS AVERAGE | 58.33 | 5.53 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.