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Guardant Health vs Labcorp: revenue, profit, margins and growth compared

Guardant Health brought in $982M of revenue in fiscal 2025, Labcorp $14B in fiscal 2025. Revenue changed by +32.9% at Guardant Health and +7.2% at Labcorp on the year before, so Guardant Health grew faster. Guardant Health kept -42.4% of its revenue as net profit, Labcorp 6.3%. Free cash flow was -$233.1M at Guardant Health and $1.2B at Labcorp.

Side by side, latest fiscal year

GHLH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$982M$14B
Revenue growth+32.9%+7.2%
Net income-$416.3M$876.5M
Net margin-42.4%6.3%
Free cash flow-$233.1M$1.2B
Free cash flow margin-23.7%8.6%
Earnings per share (diluted)-$3.32$10.46
Cash$378.2M$532.3M
Debt$1.5B$5.6B
Price to earningsn/a29.6
Market value$23.8B$25.1B
Dividend yieldn/a0.93%
Rank by revenue in sector#146 of 523 · Health care#35 of 523 · Health care

Over the years

Revenue
GH FY2018: $90.6MGH FY2019: $214.4MGH FY2020: $286.7MGH FY2021: $373.7MGH FY2022: $449.5MGH FY2023: $563.9MGH FY2024: $739MGH FY2025: $982MLH FY2018: $11.3BLH FY2019: $11.6BLH FY2020: $14BLH FY2021: $13.1BLH FY2021: $11.9BLH FY2023: $12.2BLH FY2024: $13BLH FY2025: $14BFY18FY19FY20FY21FY22FY23FY24FY25
GH $982MLH $14B
Net income
GH FY2018: -$85.1MGH FY2019: -$75.7MGH FY2020: -$253.8MGH FY2021: -$384.8MGH FY2022: -$654.6MGH FY2023: -$479.4MGH FY2024: -$436.4MGH FY2025: -$416.3MLH FY2018: $883.7MLH FY2019: $823.8MLH FY2020: $1.6BLH FY2021: $2.4BLH FY2021: $1.3BLH FY2023: $418MLH FY2024: $746MLH FY2025: $876.5MFY18FY19FY20FY21FY22FY23FY24FY25
GH -$416.3MLH $876.5M
Net margin
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%LH FY2018: 7.8%LH FY2019: 7.1%LH FY2020: 11.1%LH FY2021: 18.1%LH FY2021: 10.8%LH FY2023: 3.4%LH FY2024: 5.7%LH FY2025: 6.3%FY18FY19FY20FY21FY22FY23FY24FY25
GH -42.4%LH 6.3%
Revenue growth
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%LH FY2019: +2.0%LH FY2020: +21.0%LH FY2021: -6.0%LH FY2021: -9.7%LH FY2023: +2.5%LH FY2024: +7.0%LH FY2025: +7.2%FY19FY20FY21FY22FY23FY24FY25
GH +32.9%LH +7.2%
Free cash flow
GH FY2018: -$92.4MGH FY2019: -$65.9MGH FY2020: -$140.1MGH FY2021: -$284.1MGH FY2022: -$386.9MGH FY2023: -$345.5MGH FY2024: -$274.9MGH FY2025: -$233.1MLH FY2018: $925.6MLH FY2019: $1BLH FY2020: $1.8BLH FY2021: $2.7BLH FY2021: $1.5BLH FY2023: $874.1MLH FY2024: $1.1BLH FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
GH -$233.1MLH $1.2B

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

Questions about Guardant Health and Labcorp

Which is bigger by revenue, Guardant Health or Labcorp?

Labcorp is bigger by revenue: $14B in fiscal 2025, against $982M for Guardant Health in fiscal 2025.

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

Guardant Health had a net margin of -42.4% in fiscal 2025; Labcorp had 6.3% in fiscal 2025.

Which grew revenue faster, Guardant Health or Labcorp?

In their latest fiscal years revenue changed by +32.9% at Guardant Health and +7.2% at Labcorp.

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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