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

Labcorp brought in $14B of revenue in fiscal 2025, Veracyte $517.1M in fiscal 2025. Revenue changed by +7.2% at Labcorp and +16.0% at Veracyte on the year before, so Veracyte grew faster. Labcorp kept 6.3% of its revenue as net profit, Veracyte 12.8%. Free cash flow was $1.2B at Labcorp and $126.6M at Veracyte.

Side by side, latest fiscal year

LHVCYT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$14B$517.1M
Revenue growth+7.2%+16.0%
Net income$876.5M$66.4M
Net margin6.3%12.8%
Free cash flow$1.2B$126.6M
Free cash flow margin8.6%24.5%
Earnings per share (diluted)$10.46$0.82
Cash$532.3M$362.6M
Debt$5.6Bn/a
Price to earnings29.655.4
Market value$25.1B$3.7B
Dividend yield0.93%n/a
Rank by revenue in sector#35 of 523 · Health care#190 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: $14BVCYT FY2018: $92MVCYT FY2019: $120.4MVCYT FY2020: $117.5MVCYT FY2021: $219.5MVCYT FY2022: $296.5MVCYT FY2023: $361.1MVCYT FY2024: $445.8MVCYT FY2025: $517.1MFY18FY19FY20FY21FY22FY23FY24FY25
LH $14BVCYT $517.1M
Net income
LH FY2018: $883.7MLH FY2019: $823.8MLH FY2020: $1.6BLH FY2021: $2.4BLH FY2021: $1.3BLH FY2023: $418MLH FY2024: $746MLH FY2025: $876.5MVCYT FY2018: -$23MVCYT FY2019: -$12.6MVCYT FY2020: -$34.9MVCYT FY2021: -$75.6MVCYT FY2022: -$36.6MVCYT FY2023: -$74.4MVCYT FY2024: $24.1MVCYT FY2025: $66.4MFY18FY19FY20FY21FY22FY23FY24FY25
LH $876.5MVCYT $66.4M
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%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
LH 6.3%VCYT 12.8%
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%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
LH +7.2%VCYT +16.0%
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: $1.2BVCYT FY2018: -$15.4MVCYT FY2019: -$6MVCYT FY2020: -$12.5MVCYT FY2021: -$37MVCYT FY2022: -$1MVCYT FY2023: $34.3MVCYT FY2024: $63.8MVCYT FY2025: $126.6MFY18FY19FY20FY21FY22FY23FY24FY25
LH $1.2BVCYT $126.6M

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

Questions about Labcorp and Veracyte

Which is bigger by revenue, Labcorp or Veracyte?

Labcorp is bigger by revenue: $14B in fiscal 2025, against $517.1M for Veracyte in fiscal 2025.

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

Labcorp had a net margin of 6.3% in fiscal 2025; Veracyte had 12.8% in fiscal 2025.

Which grew revenue faster, Labcorp or Veracyte?

In their latest fiscal years revenue changed by +7.2% at Labcorp 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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