Labcorp Holdings Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Labcorp Holdings Inc (LH) 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: Labcorp Holdings Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 14,595M vs 78,521M combined for its competitors (15.7% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+4.4% annualized vs trailing 12 months), vs accelerating (+2.9%) for its tracked peer group.
- Growth: Labcorp Holdings Inc generated 6.9% revenue growth year over year in Q3 2026, vs 9.0% for its competitors combined.
- Profitability: Its 6.9% net margin compares with 12.1% for the peer group.
- Scale: Labcorp Holdings Inc ranks #4 of 46 companies by market capitalization in the Medical Laboratories industry, holding 8.5% of industry market cap.
- Peer revenue share: Labcorp Holdings Inc accounted for 15.9% of combined revenue among its tracked peer group, down from 16.1% a year earlier.
- Peer differentiation: Revenue per employee of $0.21M compares with $0.28M for the peer group (0.7x).
- Structure: Labcorp Holdings Inc operates in the following segments: Diagnostics, Biopharma Laboratory Services.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
LH Sales vs. its Competitors, Q3 2026
Labcorp Holdings Inc reported revenue growth of 6.92 % year on year in Q3 2026, below its competitors' combined revenue growth of 8.96 %.
With a net margin of 6.90 %, Labcorp Holdings Inc reported lower profitability than its competitors (12.05 %).
Labcorp Holdings Inc generated 15.87 % of the combined sales of its peer group, down from 16.12 % a year earlier.
API endpoints for this dataset
Labcorp Holdings Inc vs. its Competitors, Q3 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 Labcorp Holdings Inc reports; 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 Labcorp Holdings Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Labcorp Holdings Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Labcorp Holdings Inc's competitor groups requires a Commercial License.
For context: the Medical Laboratories industry grew revenue 9.0% year over year, combined, vs 6.9% for Labcorp Holdings Inc. Labcorp Holdings Inc's share of combined industry revenue moved from 6.51% to 6.38%, a loss of 0.13 percentage points.
Labcorp Holdings Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Labcorp Holdings Inc | Yes | Yes | Yes | No |
| Competitors combined (17) | ||||
| High-Confidence Competitors (14) | ||||
| Similar-Size Competitors (8) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 75.00 % (6 of 8) | 37.50 % (3 of 8) | 0.00 % (0 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.
LH Stock Performance relative to its Competitors
LH Stock Performance relative to High-Confidence Competitors
LH Stock Performance relative to Similar-Size Competitors
LH 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 | Neogenomics Inc | 282.9% | Outperformed |
| 2 | Grail Inc | 282.9% | Outperformed |
| 3 | Quest Diagnostics Inc | 282.9% | Outperformed |
| 4 | Opko Health Inc | 282.9% | Outperformed |
| 5 | Iqvia Holdings Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Labcorp Holdings Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Labcorp Holdings Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Labcorp Holdings Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Labcorp Holdings Inc |
29,912.11 | 14,594.50 |
 Thermo Fisher Scientific Inc |
257,755.96 | 47,351.00 |
 Iqvia Holdings Inc |
45,395.61 | 17,311.00 |
 Quest Diagnostics Inc |
28,630.56 | 11,841.00 |
 Hologic Inc |
17,087.75 | 3,644.80 |
 Radnet Inc |
5,983.56 | 2,268.93 |
| SUBTOTAL | 398,265.38 | 100,563.10 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Labcorp Holdings Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Labcorp Holdings Inc's Competitors Named by the Company
Competitive relationships identified from Labcorp Holdings Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Manhattan Scientifics Inc | Company report | 85% |
| Natera Inc | Company report | 85% |
| Prophase Labs Inc | Company report | 85% |
| Fulgent Genetics Inc | Company report | 85% |
| Myriad Genetics Inc | Company report | 85% |
| Precipio inc | Company report | 85% |
| Azenta Inc | Company report | 85% |
| Mdxhealth Sa | Company report | 85% |
| Castle Biosciences Inc | Company report | 85% |
| Icon Plc | Company report | 85% |
| Iqvia Holdings Inc | Company report | 85% |
| Sera Prognostics Inc | Company report | 85% |
| Genedx Holdings Corp | Company report | 85% |
| Personalis Inc | Company report | 85% |
| Hologic Inc | Company report | 85% |
| Neogenomics Inc | Company report | 85% |
| Syneos Health Inc | Company report | 85% |
| Quest Diagnostics Inc | Company report | 85% |
| Cue Health Inc | Company report | 85% |
| Grail Inc | Company report | 85% |
| Exagen Inc | Company report | 85% |
| Sotera Health Company | Company report | 85% |
| Qhslab Inc | Company report | 85% |
| American Bio Medica Corporation | Company report | 85% |
| Science 37 Holdings Inc | Company report | 85% |
| Radnet Inc | Company report | 85% |
| Psychemedics Corporation | Company report | 85% |
Company report basis, confidence, active dates and source counts for Labcorp Holdings Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Labcorp Holdings 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 |
|---|---|
| Labcorp Holdings Inc | Diagnostics 77.40 % |
| Thermo Fisher Scientific Inc | Clinical Research 20.15 % |
| Iqvia Holdings Inc | Research and Development Solutions 59.60 % |
| Quest Diagnostics Inc | Diagnostic Information Services Business 98.00 % |
| Hologic Inc | Diagnostics 51.18 % |
| Radnet Inc | Imaging Centers 96.64 % |
Source: operating segment revenue as reported in each company's reports (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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Labcorp Holdings 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 |
|---|---|---|---|
| Labcorp Holdings Inc | 29,912 | 208,493 | 14,354 |
| Thermo Fisher Scientific Inc | 257,756 | 378,808 | 56,712 |
| Iqvia Holdings Inc | 45,396 | 182,221 | 14,684 |
| Quest Diagnostics Inc | 28,631 | 207,737 | 20,456 |
| Hologic Inc | 17,088 | 515,530 | 76,917 |
| Radnet Inc | 5,984 | 288,228 | 2,448 |
| PEERS TOTAL | 368,353 | 283,485 | 31,906 |
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Labcorp Holdings Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. 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 51.63 % |
| Iqvia Holdings Inc | Americas 47.13 % |
| Hologic Inc | Non-US 30.23 % |
| Opko Health Inc | IE 27.07 % |
| Co diagnostics Inc | US 55.53 % |
Source: revenue geography as reported in each company's reports (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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Labcorp Holdings Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 41 companies in Labcorp Holdings Inc's industry classification, broader than the peer set above. Market cap in millions of $.Labcorp Holdings Inc ranks #4 of 41 companies by market capitalization in its industry, holding 8.53 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 805, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Iqvia Holdings Inc | 45,477 | 12.91 % |
| 2 | Natera Inc | 44,512 | 12.63 % |
| 3 | Ge Healthcare Technologies Inc | 37,401 | 10.62 % |
| 4 | Labcorp Holdings Inc | 30,059 | 8.53 % |
| 5 | Quest Diagnostics Inc | 1,234 | 5.2% |
| 6 | Koninklijke Philips Nv | 1,234 | 5.2% |
| 7 | Incyte Corporation | 1,234 | 5.2% |
| 8 | Guardant Health Inc | 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 Labcorp Holdings Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Labcorp Holdings 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 | Iqvia Holdings Inc | 45,477 | 27.85 % |
| 2 | Natera Inc | 44,512 | 60.38 % |
| 3 | Ge Healthcare Technologies Inc | 37,401 | 8.53 % |
| 4 | Labcorp Holdings Inc | 30,059 | 44.68 % |
| 5 | Quest Diagnostics Inc | 1,234 | 12.3% |
| 6 | Koninklijke Philips Nv | 1,234 | 12.3% |
| 7 | Incyte Corporation | 1,234 | 12.3% |
| 8 | Guardant Health Inc | 1,234 | 12.3% |
| 9 | Medpace Holdings Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Labcorp Holdings Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Labcorp Holdings 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 (77 companies). See the full Medical Laboratories industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 28.96 % | 33.08 % (avg) | -4.1 pp |
| Operating Margin | 10.29 % | industry median | -0.1 pp |
| EBITDA Margin | 11.21 % | -4.77 % (avg) | +16.0 pp |
| Capital Intensity (Capex / Revenue) | 3.72 % | 7.47 % (avg) | -3.7 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.
Labcorp Holdings Inc's Valuation vs Competitive Position
Valuation multiples vs the Medical Laboratories industry average (77 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. See the full Medical Laboratories industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 25.5x | 39.0x | -13.5x |
| EV / EBITDA | 18.8x | 20.9x | -2.2x |
| P/B | 2.9x | 4.3x | -1.3x |
| Return on Equity | 11.55 % | industry aggregate | -4.49 % |
| Return on Invested Capital | 5.95 % | -7.66 % (avg) | 13.61 % |
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.
Labcorp Holdings Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 12.66 % | 1.95 % | 20.98 % | 15.33 % | -7.72 % | -8.99 % | 6.97 % | 7.25 % |
| Operating Margin | 11.70 % | 11.51 % | 17.49 % | 20.22 % | 11.92 % | 5.87 % | 8.35 % | 9.92 % |
| Return on Invested Capital | 6.16 % | 5.89 % | 10.09 % | 11.38 % | 6.20 % | 2.94 % | 4.88 % | 5.67 % |
| P/E | - | 17.6x | 1,000,000,000,000.0x | 1,000,000,000,000.0x | 1,000,000,000,000.0x | 44.1x | 26.0x | 25.4x |
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.
Labcorp Holdings Inc's Strategic Group Map
Labcorp Holdings Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Labcorp Holdings Inc's trailing-12-month revenue growth of 6.0% and operating margin of 10.3% compares with an average of 4.1% growth and 10.9% margin across its 8 closest peers by combined growth, margin and ROIC -- Labcorp Holdings Inc sits above that peer average on growth and below it on margin.
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.
Labcorp Holdings Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Labcorp Holdings Inc falls in the Dog quadrant: relative market share of 0.66x vs its largest competitor, in an industry growing revenue 6.0% (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.
Labcorp Holdings 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 805 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.72 % vs industry average 7.47 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Labcorp Holdings Inc's dedicated Suppliers and Customers pages, not here.
Labcorp Holdings Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Labcorp Holdings 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.
Labcorp Holdings 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
- Latest-quarter revenue run-rate is accelerating (+4.4% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
No rule matched.
Opportunities
- Trades at a lower P/E than the industry average (25.5x vs 39.0x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Labcorp Holdings 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 |
|---|---|---|---|
| Labcorp Holdings Inc | 0.18 | 1.57 | 0.68 |
| Thermo Fisher Scientific Inc | 0.39 | 1.69 | 0.81 |
| Iqvia Holdings Inc | 0.24 | 0.76 | 2.44 |
| Quest Diagnostics Inc | 0.28 | 1.35 | 0.74 |
| Hologic Inc | 1.88 | 3.64 | 0.51 |
| Radnet Inc | 1.10 | 1.61 | 0.86 |
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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.
Labcorp Holdings 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 |
|---|---|---|---|
| Labcorp Holdings Inc | Q3 2026 | +6.9 % | +0.5 % |
| Thermo Fisher Scientific Inc | Q3 2026 | +9.1 % | +6.2 % |
| Iqvia Holdings Inc | Q3 2026 | +8.0 % | +5.4 % |
| Quest Diagnostics Inc | Q3 2026 | +10.0 % | +20.5 % |
| Hologic Inc | Q4 2025 | +44.8 % | -10.9 % |
| Radnet Inc | Q2 2026 | +25.0 % | -12.1 % |
| PEERS TOTAL | +9.9 % | +12.6 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Labcorp Holdings 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 |
|---|---|---|---|
| Labcorp Holdings Inc | Q3 2026 | +6.4 % | +56.1 % |
| Thermo Fisher Scientific Inc | Q3 2026 | +133.0 % | +8.2 % |
| Iqvia Holdings Inc | Q3 2026 | +7.4 % | +16.2 % |
| Quest Diagnostics Inc | Q3 2026 | +10.1 % | +15.3 % |
| Hologic Inc | Q4 2025 | -18.1 % | -54.3 % |
| Radnet Inc | Q2 2026 | - | -16.4 % |
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Labcorp Holdings Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Labcorp Holdings Inc | 5.36% | 6.07% | 11.55% |
| Thermo Fisher Scientific Inc | 6.29% | 7.46% | 13.32% |
| Iqvia Holdings Inc | 4.65% | 6.09% | 21.40% |
| Quest Diagnostics Inc | 6.96% | 8.01% | 15.22% |
| Hologic Inc | 6.12% | 7.26% | 11.01% |
| Radnet Inc | 0.50% | 0.45% | 1.42% |
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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).
Labcorp Holdings Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Labcorp Holdings Inc | 30.10 | 2.05 |
| Thermo Fisher Scientific Inc | 36.72 | 5.44 |
| Iqvia Holdings Inc | 33.15 | 2.62 |
| Quest Diagnostics Inc | 25.74 | 2.42 |
| Hologic Inc | 31.65 | 4.69 |
| Radnet Inc | - | 2.64 |
| PEERS AVERAGE | 37.29 | 3.96 |
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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.