What is Quest Diagnostics Inc worth?
With the base-case assumptions below, a discounted cash flow model on Quest Diagnostics Inc's reported free cash flow gives $152.53 per share. The share price was $236.32 on September 25, 2026, 55% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -2.0% | 10.0% | $77.73 | -67% |
| Base | 3.0% | 9.0% | $152.53 | -35% |
| Bull | 8.0% | 8.0% | $292.20 | +24% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $205.35 | $221.34 | $240.87 | $265.29 | $296.69 |
| 8.0% | $166.04 | $176.41 | $188.66 | $203.36 | $221.32 |
| 9.0% | $137.26 | $144.35 | $152.53 | $162.07 | $173.34 |
| 10.0% | $115.29 | $120.33 | $126.04 | $132.57 | $140.11 |
| 11.0% | $97.98 | $101.68 | $105.81 | $110.45 | $115.72 |
Where the presets come from
Base: years 1 to 5 grow at Quest Diagnostics Inc's revenue growth rate over the last 5 fiscal years (3.2% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions