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Held by 971 of 5,944 reporting institutions (99th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $322.73 today, the market must believe free cash flow compounds 13.1%/yr for a decade (off $1.1B normalized FCF).
The market's 13.1% is more optimistic than its 9-yr track record.
2-stage DCF · 0.08B shares · net debt $5.1B
mean 10.1% · volatility σ 39% · implied rate exceeded in 4/9 yrs
Central path = implied 13.1%/yr growth; shaded band = ±1σ (39%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 20% of free cash flow, leaving room to grow it and fund buybacks. Last year: $241M dividends + $450M buybacks = $691M returned on $1.2B FCF.
1 consecutive years of dividend increases · 10%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $532M covers the $500M due within a year 1.1× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.0% on $5.6B of debt.
Cash of $532M fully covers short-term debt of $500M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.95B 100.0% | $13.01B 100.0% | $12.16B 100.0% | $11.86B 100.0% | $13.14B 100.0% | $13.98B 100.0% | $11.55B 100.0% | $11.33B 100.0% | $10.31B 100.0% | $9.55B 100.0% |
| Cost of Revenue | $9.94B 71.2% | $9.38B 72.1% | $8.80B 72.3% | $8.15B 68.7% | $8.14B 62.0% | $9.03B 64.6% | $8.30B 71.9% | $8.16B 72.0% | $7.22B 70.0% | $6.70B 70.1% |
| Gross Profit | $4.01B 28.8% | $3.62B 27.9% | $3.36B 27.7% | $3.71B 31.3% | $4.99B 38.0% | $4.95B 35.4% | $3.25B 28.1% | $3.18B 28.0% | $3.09B 30.0% | $2.85B 29.9% |
| Selling, General & Admin | $2.22B 15.9% | $2.23B 17.1% | $2.02B 16.6% | $1.76B 14.9% | $1.69B 12.9% | $1.73B 12.4% | $1.62B 14.1% | $1.57B 13.9% | $1.50B 14.5% | $1.35B 14.1% |
| Operating Income | $1.38B 9.9% | $1.09B 8.4% | $725.6M 6.0% | $1.44B 12.1% | $3.05B 23.2% | $2.45B 17.5% | $1.33B 11.5% | $1.33B 11.7% | $1.31B 12.7% | $1.27B 13.3% |
| Interest Expense | $224.1M 1.6% | $208.3M 1.6% | $199.6M 1.6% | $179.8M 1.5% | $211.8M 1.6% | $207.4M 1.5% | $240.7M 2.1% | $244.2M 2.2% | $235.1M 2.3% | $219.1M 2.3% |
| Other Income (Expense), net | -$55.0M -0.4% | $60.2M 0.5% | $15.5M 0.1% | -$32.2M -0.3% | $15.5M 0.1% | -$226.3M -1.6% | -$225.3M -1.9% | -$57.4M -0.5% | -$227.7M -2.2% | -$197.0M -2.1% |
| Income Tax Expense | $229.8M 1.6% | $212.4M 1.6% | $188.5M 1.5% | $233.9M 2.0% | $690.0M 5.3% | $662.1M 4.7% | $280.0M 2.4% | $384.4M 3.4% | -$155.4M -1.5% | $360.7M 3.8% |
| Net Income | $877.0M 6.3% | $746.0M 5.7% | $418.0M 3.4% | $1.28B 10.8% | $2.38B 18.1% | $1.56B 11.1% | $823.8M 7.1% | $883.7M 7.8% | $1.23B 11.9% | $711.8M 7.5% |
| Per Share | ||||||||||
| EPS (Basic) | $10.54 | $8.89 | $4.80 | $14.05 | $24.60 | $15.99 | $8.42 | $8.71 | $11.99 | $6.94 |
| EPS (Diluted) | $10.46 | $8.84 | $4.77 | $13.97 | $24.39 | $15.88 | $8.35 | $8.61 | $11.81 | $6.82 |
| Weighted Avg Shares (Basic) | 83.2M | 83.9M | 87.1M | 91.1M | 96.7M | 97.3M | 97.9M | 101.4M | 102.4M | 102.5M |
| Weighted Avg Shares (Diluted) | 83.8M | 84.4M | 87.6M | 91.6M | 97.5M | 98.0M | 98.6M | 102.6M | 103.9M | 104.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 96th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 3.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 72.0 | 71.9 | 64.6 | 62.0 | 68.7 | 72.3 | 72.1 | 71.2 |
| Gross Profit | 28.0 | 28.1 | 35.4 | 38.0 | 31.3 | 27.7 | 27.9 | 28.8 |
| SG&A | 13.9 | 14.1 | 12.4 | 12.9 | 14.9 | 16.6 | 17.1 | 15.9 |
| Operating Income | 11.7 | 11.5 | 17.5 | 23.2 | 12.1 | 6.0 | 8.4 | 9.9 |
| Income Tax | 3.4 | 2.4 | 4.7 | 5.3 | 2.0 | 1.5 | 1.6 | 1.6 |
| Net Income | 7.8 | 7.1 | 11.1 | 18.1 | 10.8 | 3.4 | 5.7 | 6.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on LH: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| LH | $26.5B | 30.9× | 15.3× | 1.9× | 7.2% | 28.8% | 6.3% | 10.2% | 6.2% | 2.7× | 971 |
Peers = companies sharing LH's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.