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DCF valuation

What is Labcorp Holdings Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Labcorp Holdings Inc.'s reported free cash flow gives $130.50 per share. The share price was $370.88 on November 10, 2026, 184% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$1.21B
Average free cash flow, last 5 years
$1.48B
Cash
$261.8M
balance sheet of September 30, 2026
Debt
$5.85B
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
83,800,000
Revenue growth per year, last 5 years
-0.0%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear-5.0%-1.5%2.0%10.0%$56.53-85%
Base-0.0%1.5%2.5%9.0%$130.50-65%
Bull5.0%4.0%3.0%8.0%$268.59-28%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$181.66$196.99$215.73$239.16$269.27
8.0%$143.70$153.64$165.39$179.49$196.73
9.0%$115.85$122.65$130.50$139.65$150.46
10.0%$94.55$99.39$104.87$111.13$118.35
11.0%$77.73$81.28$85.24$89.69$94.74

Where the presets come from

Base: years 1 to 5 grow at Labcorp Holdings Inc.'s revenue growth rate over the last 5 fiscal years (-0.0% 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

Labcorp Holdings Inc. company page