Quest Diagnostics (DGX) Stock Analysis

November 11, 2026

This is a peer-relative look at Quest Diagnostics (DGX): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Health Care Equipment & Services peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Quest Diagnostics (DGX)
Profile Item	DGX
Name	Quest Diagnostics Incorporated
Country/Region	United States
GICS Sector	Health Care
GICS Industry Group	Health Care Equipment & Services
GICS Industry	Health Care Providers & Services
GICS Sub-Industry	Health Care Services
Market Capitalization	28.21 billion USD
Currency	USD
Exchange	NYSE
Listing Date	December 17, 1996
Security Type	Common Stock

Price Performance

Cumulative Growth

DGX

GSPC

Quest Diagnostics (DGX) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Quest Diagnostics (DGX) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Quest Diagnostics (DGX) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
Total Return (1Y)	45.88%	21.53%
Total Return (3Y, Annualized)	27.45%	9.81%
Total Return (5Y, Annualized)	14.84%	-2.76%

Risk Profile

Drawdown History

DGX

GSPC

Quest Diagnostics (DGX) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Quest Diagnostics (DGX) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
Volatility (1Y, Annualized)	24.06%	50.93%
Beta (5Y)	0.54	0.85
Max Drawdown (5Y)	-28.62%	-70.34%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. DGX is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
Sharpe Ratio (1Y)	1.73	0.34
Sortino Ratio (1Y)	3.16	0.54

Profitability

ROE (TTM)

Quest Diagnostics (DGX) posts ROE of 15.32%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

DGX

Health Care Equipment & Services industry group

15.32%

Group distribution

Max: 47.61%
DGX: 15.32%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Largest peers

ISRG: 17.93%
SYK: 16.02%
UNH: 15.77%
DGX: 15.32%
MDT: 10.65%
ABT: 9.14%
MCK: --

Where Quest Diagnostics (DGX) stands on ROE within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Quest Diagnostics (DGX) keeps 9.54% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

DGX

Health Care Equipment & Services industry group

9.54%

Group distribution

Max: 29.35%
DGX: 9.54%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Largest peers

ISRG: 25.54%
MDT: 13.93%
SYK: 13.78%
ABT: 9.75%
DGX: 9.54%
UNH: 3.53%
MCK: 1.12%

Where Quest Diagnostics (DGX) stands on net margin within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Quest Diagnostics (DGX) turns 15.63% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

DGX

Health Care Equipment & Services industry group

15.63%

Group distribution

Max: 35.43%
DGX: 15.63%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Largest peers

ISRG: 33.29%
SYK: 22.96%
MDT: 19.33%
DGX: 15.63%
ABT: 11.66%
UNH: 5.82%
MCK: 1.48%

Where Quest Diagnostics (DGX) stands on operating margin within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
ROE (TTM)	15.32%	5.45%
ROA (TTM)	6.61%	3.17%
Net Margin (TTM)	9.54%	2.18%
Operating Margin (TTM)	15.63%	6.81%
Gross Margin (TTM)	33.18%	55.21%

Growth

Revenue Growth

Quest Diagnostics (DGX) grew revenue 11.78%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Quest Diagnostics (DGX): Revenue Growth across different time periods, set against Health Care Equipment & Services industry-group medians.

EPS Growth

Quest Diagnostics (DGX) grew earnings per share 13.78%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Quest Diagnostics (DGX): EPS Growth across different time periods, set against Health Care Equipment & Services industry-group medians.

Growth Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
Revenue Growth (YoY)	11.78%	11.55%
Revenue Growth (3Y CAGR)	3.74%	10.83%
EPS Growth (YoY)	13.78%	4.88%
EPS Growth (3Y CAGR)	3.16%	14.59%

Financial Strength

Current Ratio (MRQ)

Quest Diagnostics (DGX) has current ratio of 1.70, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

DGX

Health Care Equipment & Services industry group

1.70

Group distribution

Max: 7.59
Q3: 4.00
Median: 1.98
DGX: 1.70
Q1: 1.37
Min: 0.30

Largest peers

ISRG: 3.33
SYK: 2.18
MDT: 2.07
DGX: 1.70
ABT: 1.46
MCK: 0.90
UNH: 0.74

Where Quest Diagnostics (DGX) stands on current ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Quest Diagnostics (DGX) has debt-to-equity ratio of 0.80, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

DGX

Health Care Equipment & Services industry group

0.80

Group distribution

Max: 1.88
Q3: 0.91
DGX: 0.80
Median: 0.58
Q1: 0.16
Min: 0.00

Largest peers

DGX: 0.80
UNH: 0.70
SYK: 0.66
ABT: 0.61
MDT: 0.55
ISRG: --
MCK: --

Where Quest Diagnostics (DGX) stands on debt-to-equity ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
Current Ratio (MRQ)	1.70	1.98
Debt / Equity (MRQ)	0.80	0.58
Net Debt / EBITDA	2.38	2.04

Dividends

Dividend Yield (TTM)

Quest Diagnostics (DGX) has dividend yield of 1.33%, above the entire industry range. That headline income is large, but yields this far above peers often come from a falling share price or an at-risk payout, so dividend safety matters more than the percentage itself.

DGX

Health Care Equipment & Services industry group

1.33%

Group distribution

DGX: 1.33%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

MDT: 2.72%
UNH: 2.29%
ABT: 2.22%
DGX: 1.33%
SYK: 1.05%
MCK: 0.32%
ISRG: 0.00%

Where Quest Diagnostics (DGX) stands on dividend yield within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Quest Diagnostics (DGX) has payout ratio of 25.10%, above the peer distribution for its industry. The dividend consumes more reported earnings than peers normally do, leaving unusually thin earnings cover.

DGX

Health Care Equipment & Services industry group

25.10%

Group distribution

DGX: 25.10%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

ABT: 92.54%
MDT: 70.02%
UNH: 51.71%
SYK: 37.49%
DGX: 25.10%
MCK: 8.77%
ISRG: 0.00%

Where Quest Diagnostics (DGX) stands on payout ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
Dividend Yield (TTM)	1.33%	0.00%
Dividend Payout Ratio (TTM)	25.10%	0.00%

Valuation

P/E Ratio (TTM)

Quest Diagnostics (DGX) trades at P/E ratio of 25.46, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

DGX

Health Care Equipment & Services industry group

25.46

Group distribution

Max: 80.41
Q3: 47.62
Median: 29.93
DGX: 25.46
Q1: 21.19
Min: 4.21

Largest peers

ISRG: 54.75
ABT: 41.02
SYK: 34.70
MCK: 27.36
DGX: 25.46
MDT: 25.01
UNH: 22.50

Where Quest Diagnostics (DGX) stands on P/E ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Quest Diagnostics (DGX) trades at 2.38 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

DGX

Health Care Equipment & Services industry group

2.38

Group distribution

Max: 8.80
Q3: 4.32
DGX: 2.38
Median: 2.13
Q1: 1.10
Min: 0.03

Largest peers

ISRG: 13.82
SYK: 4.72
ABT: 3.95
MDT: 3.47
DGX: 2.38
UNH: 0.78
MCK: 0.29

Where Quest Diagnostics (DGX) stands on P/S ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Quest Diagnostics (DGX) trades at 3.68 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

DGX

Health Care Equipment & Services industry group

3.68

Group distribution

Max: 11.68
Q3: 6.12
DGX: 3.68
Median: 3.00
Q1: 1.73
Min: -1.31

Largest peers

ISRG: 9.82
SYK: 5.29
ABT: 3.73
DGX: 3.68
UNH: 3.60
MDT: 2.59
MCK: -30.85

Where Quest Diagnostics (DGX) stands on P/B ratio within its Health Care Equipment & Services peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Quest Diagnostics (DGX) metric values compared with Health Care Equipment & Services industry-group medians
Metric	Current stock: DGX	Industry group median
P/E Ratio (TTM)	25.46	29.93
P/S Ratio (TTM)	2.38	2.13
P/B Ratio (MRQ)	3.68	3.00
Free Cash Flow Yield (TTM)	3.09%	3.50%