Quest Diagnostics — Jan 12, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000947871-26-000025
Showing in the filing
Advanced diagnostic tests in 5 key clinical areas growth
“double-digit growth”
Period
No period stated
Measure
Company-defined measure
Source
Prose
All guidance in this release · 25
Revenue CAGR for FY2025
“4% - 5%”
Total revenues CAGR for FY2025
“4% - 5% CAGR”
Physicians channel growth for the long term
“4% - 5% CAGR”
Hospitals channel growth for the long term
“5% - 6% CAGR”
High-growth areas channel growth for the long term
“>20% CAGR”
Adjusted EPS CAGR for the long term
“7% - 9%”
CoLab revenues for FY2026
“~$1B in revenues in 2026 including Corewell Health”
Advanced diagnostic tests in 5 key clinical …
“double-digit growth”
Advanced diagnostic tests in 5 key clinical … for FY2025
“~$1 billion”
Invigorate productivity and cost savings tar… for FY2025
“3% annual productivity and cost savings target”
M&A targeted financial criteria - EPS accret…
“Accretive to adj EPS in year 1”
M&A targeted financial criteria - ROIC accre…
“Accretive to ROIC (at least 10%) by year 3”
Targeted capital deployment - operating cash… for FY2025
“$4.5B - $5.0B operating cash flow”
Targeted capital deployment - capital expend… for FY2025
“$1.5B - $1.7B capital expenditures (~4.5% of revenue)”
Targeted capital deployment - free cash flow for FY2025
“$3.0B - $3.3B free cash flow”
Targeted capital deployment - acquisitions for FY2025
“~$1.5B acquisitions”
Targeted capital deployment - acquisitions r… for FY2025
“Drives 1% - 2% revenue growth”
Targeted capital deployment - dividends for FY2025
“~$1.0B dividends”
Targeted capital deployment - share repurcha… for FY2025
“~$0.7B share repurchases”
Total revenues
“4% - 5% CAGR”
Total revenues - acquisition contribution for FY2025
“Includes 1% - 2% growth from new acquisitions”
Operating margins for FY2027
“+75 to +150 basis points by the end of 2027”
Adjusted EPS* for the long term
“7% - 9% CAGR”
Free cash flow for FY2025
“Free cash flow growth commensurate with earnings growth”
Adjusted EPS growth plus dividend yield CAGR for FY2025
“high single-digit to low double-digit CAGR”
Exhibit 99.1 · the passage around this item
… earlier in the release
Health
Optum
Minute clinic
duly
Healthcare provider and executive needs
Scaled, efficient diagnostic testing to alleviate staff burden and gain external expertise
Reduced cost in testing capital and infrastructure--and minimized regulatory risks
Access to technology, automation, and broader menus of advanced testing
Optimized billing, reimbursement, and insurance in-network status for test coverage
Ability to focus on quality patient care with faster turnaround time and greater reliability
Our strengths enable us to meet each of these needs
Scale
Board access (PSCs, IOPs)
Clinical Innovation
Health plan access
Value
We help hospitals improve quality, efficiency, and access to capital
Reference testing
Comprehensive menu across continuum of care for one-stop shop
Reduces the need for hospitals to invest in advanced technologies
Approximately $1.2B in revenues today
Collaborative Lab Solutions (CoLab)
Professional lab management and related services based on expertise and scale
~$800M in revenues in 2025
~$1B in revenues in 2026 including Corewell Health
Outreach / JVs
Access to capital to invest in core assets
Continued access to diagnostic innovation
Enhanced affordability
Quest is the lab engine for the growing wellness industry
~$100M direct
Quest
~250M annual revenue
~150M partners
Function
WHOOP
Hims&hers
OURA
Behavioral Change
Biometric data from device
Biomarker data from lab
Provider direction
We expect advanced diagnostic tests in 5 key clinical areas to deliver double-digit growth
Advanced Cardiometabolic Health
ApoB
Lipoprotein(a)
Insulin resistance panel with score
Autoimmune Disorders
ANAlyzeR® primary care screening
Therapy guidance
(RA, IBD)
Brain Health
AD-Detect® Alzheimer's disease blood testing
New liquid biomarkers
Oncology
Haystack MRD®
IsoPSA®
STEP500 liquid and tissue
Women's & Reproductive Health
QNatal® Advanced (NIPS)
QHerit® carrier screening
In these 5 areas, advanced diagnostic tests expected to generate ~$1 billion in 2025
We continue to improve quality, productivity, and customer experience
3% annual productivity and cost savings target through Invigorate
Onboard
Order
Collect
Transport
Test
Result
Bill
Service
People Customer-centric and highly engaged employees driving performance and innovation
Process Lean, standardized, and digital processes powering experience and productivity
Technology Automation, AI, and new software tools enabling operational excellence
Driving productivity across the order-to-cash value stream...
Onboard
Order
Collect
Transport
Test
Result
Bill
Service
Accounts set up within 3 days
Electronic order rate
Patients served per FTE per day
Non-productive stop
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.