Laboratory Corporation of America Holdings (LH)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $25.9B, Laboratory Corporation of America Holdings's free cash flow of $1.2B (fiscal 2025) would need to grow about 6% a year for the stock to be worth today's price. That is close to what the company has delivered over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Laboratory Corporation of America Holdings's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from LH's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Laboratory Corporation of America Holdings's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $13.1B | $11.9B | $12.2B | $13.0B | $14.0B |
| Net income | $2.4B | $1.3B | $418M | $746M | $876M |
| Free cash flow | $2.7B | $1.5B | $874M | $1.1B | $1.2B |
| EPS (diluted) | $24.39 | $13.97 | $4.77 | $8.84 | $10.46 |
| Operating margin | 23.2% | 12.1% | 6.0% | 8.4% | 9.9% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own LH
From each investor's latest 13F filing (what a 13F shows). 7 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Ric Dillon Diamond Hill Capital Management |
Trimmed | $168M | 1.3% | Q2 2026 |
| John Rogers Ariel Investments |
Trimmed | $98M | 0.98% | Q2 2026 |
| Charles Brandes Brandes Investment Partners, LP |
Added | $70M | 0.49% | Q2 2026 |
| Wallace Weitz Weitz Investment Management |
Held | $28M | 1.9% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $25M | 0.06% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $17M | 0.01% | Q2 2026 |
| Mark Boyar Boyar Asset Management |
Added | $1M | 0.62% | Q2 2026 |
Insider buying
Open-market purchases by Laboratory Corporation of America Holdings's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Feb 11, 2026 | April Mcclain Delaney |
0 | $289.95 | — |
| Feb 11, 2026 | April Mcclain Delaney |
0 | $289.95 | — |
| Feb 11, 2026 | April Mcclain Delaney |
0 | $289.95 | — |
| Feb 4, 2026 | April Mcclain Delaney |
0 | $276.19 | — |
| Feb 4, 2026 | April Mcclain Delaney |
0 | $276.19 | — |
| Feb 4, 2026 | April Mcclain Delaney |
0 | $276.19 | — |
| Jan 28, 2026 | April Mcclain Delaney |
0 | $268.07 | — |
| Jan 28, 2026 | April Mcclain Delaney |
0 | $268.07 | — |
| Jan 28, 2026 | April Mcclain Delaney |
0 | $268.07 | — |
| Nov 17, 2025 | April Mcclain Delaney |
0 | $261.35 | — |
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In the full deep dive
Questions
What growth does Laboratory Corporation of America Holdings's stock price imply?
At a market value of $25.9B, Laboratory Corporation of America Holdings would need its free cash flow to grow about 6% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 3% a year.
Are Laboratory Corporation of America Holdings insiders buying the stock?
10 open-market insider purchases of LH in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Laboratory Corporation of America Holdings?
7 of the superinvestors Investingly tracks hold LH in their latest 13F, including Ric Dillon, John Rogers, Charles Brandes.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.