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Quest Diagnostics vs Guardant Health: revenue, profit, margins and growth compared

Quest Diagnostics brought in $11B of revenue in fiscal 2025, Guardant Health $982M in fiscal 2025. Revenue changed by +11.8% at Quest Diagnostics and +32.9% at Guardant Health on the year before, so Guardant Health grew faster. Quest Diagnostics kept 9.0% of its revenue as net profit, Guardant Health -42.4%. Free cash flow was $1.4B at Quest Diagnostics and -$233.1M at Guardant Health.

Side by side, latest fiscal year

DGXGH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$11B$982M
Revenue growth+11.8%+32.9%
Net income$992M-$416.3M
Net margin9.0%-42.4%
Free cash flow$1.4B-$233.1M
Free cash flow margin12.3%-23.7%
Earnings per share (diluted)$8.75-$3.32
Cash$420M$378.2M
Debt$5.7B$1.5B
Price to earnings27.0n/a
Market value$26.1B$23.8B
Dividend yieldn/an/a
Rank by revenue in sector#43 of 523 · Health care#146 of 523 · Health care

Over the years

Revenue
DGX FY2018: $7.5BDGX FY2019: $7.7BDGX FY2020: $9.4BDGX FY2021: $10.8BDGX FY2022: $9.9BDGX FY2023: $9.3BDGX FY2024: $9.9BDGX FY2025: $11BGH FY2018: $90.6MGH FY2019: $214.4MGH FY2020: $286.7MGH FY2021: $373.7MGH FY2022: $449.5MGH FY2023: $563.9MGH FY2024: $739MGH FY2025: $982MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $11BGH $982M
Net income
DGX FY2018: $736MDGX FY2019: $858MDGX FY2020: $1.4BDGX FY2021: $2BDGX FY2022: $946MDGX FY2023: $854MDGX FY2024: $871MDGX FY2025: $992MGH FY2018: -$85.1MGH FY2019: -$75.7MGH FY2020: -$253.8MGH FY2021: -$384.8MGH FY2022: -$654.6MGH FY2023: -$479.4MGH FY2024: -$436.4MGH FY2025: -$416.3MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $992MGH -$416.3M
Net margin
DGX FY2018: 9.8%DGX FY2019: 11.1%DGX FY2020: 15.2%DGX FY2021: 18.5%DGX FY2022: 9.6%DGX FY2023: 9.2%DGX FY2024: 8.8%DGX FY2025: 9.0%GH FY2018: -93.8%GH FY2019: -35.3%GH FY2020: -88.5%GH FY2021: -103.0%GH FY2022: -145.6%GH FY2023: -85.0%GH FY2024: -59.0%GH FY2025: -42.4%FY18FY19FY20FY21FY22FY23FY24FY25
DGX 9.0%GH -42.4%
Revenue growth
DGX FY2019: +2.6%DGX FY2020: +22.1%DGX FY2021: +14.3%DGX FY2022: -8.4%DGX FY2023: -6.4%DGX FY2024: +6.7%DGX FY2025: +11.8%GH FY2019: +136.5%GH FY2020: +33.8%GH FY2021: +30.3%GH FY2022: +20.3%GH FY2023: +25.5%GH FY2024: +31.0%GH FY2025: +32.9%FY19FY20FY21FY22FY23FY24FY25
DGX +11.8%GH +32.9%
Free cash flow
DGX FY2018: $817MDGX FY2019: $843MDGX FY2020: $1.6BDGX FY2021: $1.8BDGX FY2022: $1.3BDGX FY2023: $864MDGX FY2024: $909MDGX FY2025: $1.4BGH FY2018: -$92.4MGH FY2019: -$65.9MGH FY2020: -$140.1MGH FY2021: -$284.1MGH FY2022: -$386.9MGH FY2023: -$345.5MGH FY2024: -$274.9MGH FY2025: -$233.1MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $1.4BGH -$233.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Quest Diagnostics and Guardant Health

Which is bigger by revenue, Quest Diagnostics or Guardant Health?

Quest Diagnostics is bigger by revenue: $11B in fiscal 2025, against $982M for Guardant Health in fiscal 2025.

Which keeps more of its revenue as profit, Quest Diagnostics or Guardant Health?

Quest Diagnostics had a net margin of 9.0% in fiscal 2025; Guardant Health had -42.4% in fiscal 2025.

Which grew revenue faster, Quest Diagnostics or Guardant Health?

In their latest fiscal years revenue changed by +11.8% at Quest Diagnostics and +32.9% at Guardant Health.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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