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Quest Diagnostics vs Veracyte: revenue, profit, margins and growth compared

Quest Diagnostics brought in $11B of revenue in fiscal 2025, Veracyte $517.1M in fiscal 2025. Revenue changed by +11.8% at Quest Diagnostics and +16.0% at Veracyte on the year before, so Veracyte grew faster. Quest Diagnostics kept 9.0% of its revenue as net profit, Veracyte 12.8%. Free cash flow was $1.4B at Quest Diagnostics and $126.6M at Veracyte.

Side by side, latest fiscal year

DGXVCYT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$11B$517.1M
Revenue growth+11.8%+16.0%
Net income$992M$66.4M
Net margin9.0%12.8%
Free cash flow$1.4B$126.6M
Free cash flow margin12.3%24.5%
Earnings per share (diluted)$8.75$0.82
Cash$420M$362.6M
Debt$5.7Bn/a
Price to earnings27.055.4
Market value$26.1B$3.7B
Dividend yieldn/an/a
Rank by revenue in sector#43 of 523 · Health care#190 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: $11BVCYT FY2018: $92MVCYT FY2019: $120.4MVCYT FY2020: $117.5MVCYT FY2021: $219.5MVCYT FY2022: $296.5MVCYT FY2023: $361.1MVCYT FY2024: $445.8MVCYT FY2025: $517.1MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $11BVCYT $517.1M
Net income
DGX FY2018: $736MDGX FY2019: $858MDGX FY2020: $1.4BDGX FY2021: $2BDGX FY2022: $946MDGX FY2023: $854MDGX FY2024: $871MDGX FY2025: $992MVCYT FY2018: -$23MVCYT FY2019: -$12.6MVCYT FY2020: -$34.9MVCYT FY2021: -$75.6MVCYT FY2022: -$36.6MVCYT FY2023: -$74.4MVCYT FY2024: $24.1MVCYT FY2025: $66.4MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $992MVCYT $66.4M
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%VCYT FY2018: -25.0%VCYT FY2019: -10.5%VCYT FY2020: -29.7%VCYT FY2021: -34.4%VCYT FY2022: -12.3%VCYT FY2023: -20.6%VCYT FY2024: 5.4%VCYT FY2025: 12.8%FY18FY19FY20FY21FY22FY23FY24FY25
DGX 9.0%VCYT 12.8%
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%VCYT FY2019: +30.8%VCYT FY2020: -2.4%VCYT FY2021: +86.8%VCYT FY2022: +35.1%VCYT FY2023: +21.8%VCYT FY2024: +23.5%VCYT FY2025: +16.0%FY19FY20FY21FY22FY23FY24FY25
DGX +11.8%VCYT +16.0%
Free cash flow
DGX FY2018: $817MDGX FY2019: $843MDGX FY2020: $1.6BDGX FY2021: $1.8BDGX FY2022: $1.3BDGX FY2023: $864MDGX FY2024: $909MDGX FY2025: $1.4BVCYT FY2018: -$15.4MVCYT FY2019: -$6MVCYT FY2020: -$12.5MVCYT FY2021: -$37MVCYT FY2022: -$1MVCYT FY2023: $34.3MVCYT FY2024: $63.8MVCYT FY2025: $126.6MFY18FY19FY20FY21FY22FY23FY24FY25
DGX $1.4BVCYT $126.6M

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

Questions about Quest Diagnostics and Veracyte

Which is bigger by revenue, Quest Diagnostics or Veracyte?

Quest Diagnostics is bigger by revenue: $11B in fiscal 2025, against $517.1M for Veracyte in fiscal 2025.

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

Quest Diagnostics had a net margin of 9.0% in fiscal 2025; Veracyte had 12.8% in fiscal 2025.

Which grew revenue faster, Quest Diagnostics or Veracyte?

In their latest fiscal years revenue changed by +11.8% at Quest Diagnostics and +16.0% at Veracyte.

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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