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Labcorp vs RadNet: revenue, profit, margins and growth compared

Labcorp brought in $14B of revenue in fiscal 2025, RadNet $2B in fiscal 2025. Revenue changed by +7.2% at Labcorp and +11.5% at RadNet on the year before, so RadNet grew faster. Labcorp kept 6.3% of its revenue as net profit, RadNet -0.9%.

Side by side, latest fiscal year

LHRDNT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$14B$2B
Revenue growth+7.2%+11.5%
Net income$876.5M-$18.7M
Net margin6.3%-0.9%
Free cash flow$1.2Bn/a
Free cash flow margin8.6%n/a
Earnings per share (diluted)$10.46-$0.25
Cash$532.3M$767.2M
Debt$5.6B$1.1B
Price to earnings29.6n/a
Market value$25.1B$5.6B
Dividend yield0.93%n/a
Rank by revenue in sector#35 of 523 · Health care#108 of 523 · Health care

Over the years

Revenue
LH FY2018: $11.3BLH FY2019: $11.6BLH FY2020: $14BLH FY2021: $13.1BLH FY2021: $11.9BLH FY2023: $12.2BLH FY2024: $13BLH FY2025: $14BRDNT FY2018: $975.1MRDNT FY2019: $1.2BRDNT FY2020: $1.1BRDNT FY2021: $1.3BRDNT FY2022: $1.4BRDNT FY2023: $1.6BRDNT FY2024: $1.8BRDNT FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
LH $14BRDNT $2B
Net income
LH FY2018: $883.7MLH FY2019: $823.8MLH FY2020: $1.6BLH FY2021: $2.4BLH FY2021: $1.3BLH FY2023: $418MLH FY2024: $746MLH FY2025: $876.5MRDNT FY2018: $32.2MRDNT FY2019: $14.8MRDNT FY2020: -$14.8MRDNT FY2021: $24.7MRDNT FY2022: $10.7MRDNT FY2023: $3MRDNT FY2024: $2.8MRDNT FY2025: -$18.7MFY18FY19FY20FY21FY22FY23FY24FY25
LH $876.5MRDNT -$18.7M
Net margin
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%RDNT FY2018: 3.3%RDNT FY2019: 1.3%RDNT FY2020: -1.4%RDNT FY2021: 1.9%RDNT FY2022: 0.7%RDNT FY2023: 0.2%RDNT FY2024: 0.2%RDNT FY2025: -0.9%FY18FY19FY20FY21FY22FY23FY24FY25
LH 6.3%RDNT -0.9%
Revenue growth
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%RDNT FY2019: +18.4%RDNT FY2020: -7.1%RDNT FY2021: +22.7%RDNT FY2022: +8.7%RDNT FY2023: +13.0%RDNT FY2024: +13.2%RDNT FY2025: +11.5%FY19FY20FY21FY22FY23FY24FY25
LH +7.2%RDNT +11.5%
Free cash flow
LH FY2018: $925.6MLH FY2019: $1BLH FY2020: $1.8BLH FY2021: $2.7BLH FY2021: $1.5BLH FY2023: $874.1MLH FY2024: $1.1BLH FY2025: $1.2BRDNT FY2018: $44.6MRDNT FY2019: $30.2MFY18FY19FY20FY21FY23FY24FY25
LH $1.2BRDNT $30.2M

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

Questions about Labcorp and RadNet

Which is bigger by revenue, Labcorp or RadNet?

Labcorp is bigger by revenue: $14B in fiscal 2025, against $2B for RadNet in fiscal 2025.

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

Labcorp had a net margin of 6.3% in fiscal 2025; RadNet had -0.9% in fiscal 2025.

Which grew revenue faster, Labcorp or RadNet?

In their latest fiscal years revenue changed by +7.2% at Labcorp and +11.5% at RadNet.

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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