Quest Diagnostics Incorporated (DGX) Balance Sheet

NYSE: DGXAssets, liabilities, debt and equity over 10 years.

DGX balance sheet, 2025

December 31, 2025 · U.S. dollars

$16.23B assets = $8.94B liabilities + $7.29B equity

Both columns are drawn to the same scale: what DGX owns equals what it owes plus shareholders’ equity. Hover a block for its value.

DGX financial health

Current ratio1.04

Adequate · current assets cover current liabilities 1.04×

Debt / equity0.96

Moderate leverage · $0.96 of debt for each $1 of equity

Equity / assets44.2%

Equity-funded · of assets funded by shareholders

Cash / debt6.1%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles65.2%

Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

DGX balance sheet trends, 2016–2025

Quest Diagnostics Incorporated balance sheet trends
Metric	Then	Latest	Change
Total assets	$10.10B2016	$16.23B2025	+5.4%/yr
Total liabilities	$5.36B2016	$8.94B2025	+5.8%/yr
Shareholders’ equity	$4.63B2016	$7.17B2025	+5.0%/yr
Cash & short-term investments	$359.0M2016	$420.0M2025	+1.8%/yr
Total debt	$3.73B2016	$6.92B2025	+7.1%/yr
Net cash (debt)	−$3.38B2016	−$6.50B2025	−$3.1B
Working capital	$550.0M2016	$100.0M2025	−$450.0M
Book value per share	$32.592016	$63.452025	+7.7%/yr
Current ratio	1.562016	1.042025	−0.52
Debt / equity	0.812016	0.962025	+0.16
Shares outstanding	142.0M2016	113.0M2025	−2.5%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

DGX assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

DGX liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

DGX debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

DGX balance sheet

Quest Diagnostics Incorporated annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$420.0M	$549.0M	$686.0M	$315.0M	$872.0M	$1.16B	$1.19B	$135.0M	$137.0M	$359.0M
Cash & equivalents	$420.0M	$549.0M	$686.0M	$315.0M	$872.0M	$1.16B	$1.19B	$135.0M	$137.0M	$359.0M
Short-term investments	—	—	—	—	$44.0M	$521.0M	—	—	$0	$0
Receivables	$1.41B	$1.30B	$1.21B	$1.20B	$1.44B	$1.52B	$1.06B	$1.01B	$924.0M	$926.0M
Inventory	$189.0M	$188.0M	$190.0M	$192.0M	$208.0M	$223.0M	$123.0M	$99.0M	$95.0M	$82.0M
Other current assets	$361.0M	$351.0M	$286.0M	$196.0M	$223.0M	$157.0M	$112.0M	$144.0M	$150.0M	$164.0M
Total current assets	$2.38B	$2.39B	$2.37B	$1.90B	$2.74B	$3.06B	$2.49B	$1.39B	$1.31B	$1.53B
Property, plant & equipment (net)	$2.86B	$2.76B	$2.42B	$2.35B	$2.30B	$2.23B	$1.97B	$1.29B	$1.15B	$1.03B
Goodwill & intangible assets	$10.58B	$10.62B	$8.90B	$8.31B	$8.26B	$8.04B	$7.74B	$7.77B	$7.45B	$6.95B
Long-term investments	$136.0M	$123.0M	$135.0M	$132.0M	$141.0M	$521.0M	$482.0M	$436.0M	$462.0M	$443.0M
Other non-current assets	$270.0M	$255.0M	$198.0M	$144.0M	$163.0M	$176.0M	$160.0M	$119.0M	$136.0M	$148.0M
Total assets	$16.23B	$16.15B	$14.02B	$12.84B	$13.61B	$14.03B	$12.84B	$11.00B	$10.50B	$10.10B
Liabilities
Accounts payable	$1.60B	$287.0M	$378.0M	$324.0M	$357.0M	$446.0M	$263.0M	$222.0M	$224.0M	$261.0M
Short-term debt	$678.0M	$937.0M	$585.0M	$247.0M	$269.0M	$296.0M	$1.04B	$562.0M	$107.0M	$6.0M
Deferred revenue	—	—	$516.0M	—	—	—	—	$17.0M	$80.0M	$3.0M
Total current liabilities	$2.28B	$2.17B	$1.81B	$1.55B	$1.75B	$1.78B	$1.99B	$1.49B	$1.06B	$981.0M
Long-term debt	$5.17B	$5.62B	$4.41B	$3.98B	$4.01B	$4.01B	$3.97B	$3.43B	$3.75B	$3.73B
Lease obligations	$711.0M	$708.0M	$656.0M	$642.0M	$645.0M	$640.0M	$558.0M	—	—	—
Other long-term liabilities	$1.49B	$1.47B	$1.38B	$1.30B	$1.29B	$1.35B	$1.12B	$745.0M	$663.0M	$654.0M
Total liabilities	$8.94B	$9.26B	$7.60B	$6.83B	$7.05B	$7.13B	$7.08B	$5.66B	$5.47B	$5.36B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.61B	$2.55B
Retained earnings (deficit)	$9.99B	$9.36B	$8.82B	$8.29B	$7.65B	$9.30B	$8.17B	$7.60B	$7.14B	$6.61B
Treasury stock	—	—	—	−$4.67B	−$3.45B	−$5.37B	−$5.22B	−$5.00B	−$4.78B	−$4.46B
Accumulated other comprehensive income	−$27.0M	−$88.0M	−$14.0M	−$21.0M	−$14.0M	−$21.0M	−$39.0M	−$59.0M	−$48.0M	−$72.0M
Minority interest	$116.0M	$118.0M	$111.0M	$37.0M	$39.0M	$50.0M	$46.0M	$51.0M	$34.0M	$32.0M
Total shareholders' equity	$7.17B	$6.78B	$6.31B	$5.89B	$6.44B	$6.76B	$5.64B	$5.22B	$4.92B	$4.63B
Key figures
Total debt	$6.92B	$7.09B	$5.50B	$4.71B	$4.77B	$4.81B	$5.42B	$3.99B	$3.85B	$3.73B
Net cash (debt)	−$6.50B	−$6.54B	−$4.81B	−$4.40B	−$3.90B	−$3.65B	−$4.22B	−$3.86B	−$3.72B	−$3.38B
Working capital	$100.0M	$223.0M	$557.0M	$347.0M	$988.0M	$1.28B	$500.0M	−$95.0M	$249.0M	$550.0M
Tangible book value	−$3.41B	−$3.84B	−$2.59B	−$2.42B	−$1.82B	−$1.28B	−$2.10B	−$2.55B	−$2.53B	−$2.32B
Book value per share	$63.45	$59.98	$55.81	$49.94	$50.34	$49.70	$41.48	$37.53	$35.15	$32.59
Shares outstanding	113.0M	113.0M	113.0M	118.0M	128.0M	136.0M	136.0M	139.0M	140.0M	142.0M
Current ratio	1.04	1.10	1.31	1.22	1.56	1.72	1.25	0.94	1.24	1.56
Quick ratio	0.80	0.85	1.04	0.97	1.32	1.51	1.13	0.77	1.00	1.31
Debt / equity	0.96	1.05	0.87	0.80	0.74	0.71	0.96	0.77	0.78	0.81
Equity / assets	44.2%	42.0%	45.0%	45.9%	47.3%	48.2%	43.9%	47.4%	46.9%	45.8%

Quest Diagnostics Incorporated quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$626.0M	$393.0M	$420.0M	$432.0M	$319.0M	$188.0M	$549.0M	$764.0M	$271.0M	$474.0M	$686.0M	$143.0M
Cash & equivalents	$626.0M	$393.0M	$420.0M	$432.0M	$319.0M	$188.0M	$549.0M	$764.0M	$271.0M	$474.0M	$686.0M	$143.0M
Receivables	$1.67B	$1.59B	$1.41B	$1.46B	$1.42B	$1.40B	$1.30B	$1.38B	$1.32B	$1.32B	$1.21B	$1.28B
Inventory	$233.0M	$225.0M	$189.0M	$186.0M	$187.0M	$189.0M	$188.0M	$184.0M	$182.0M	$181.0M	$190.0M	$184.0M
Other current assets	$319.0M	$361.0M	$361.0M	$333.0M	$273.0M	$294.0M	$351.0M	$299.0M	$245.0M	$251.0M	$286.0M	$207.0M
Total current assets	$2.84B	$2.57B	$2.38B	$2.41B	$2.20B	$2.08B	$2.39B	$2.62B	$2.02B	$2.23B	$2.37B	$1.81B
Property, plant & equipment (net)	$2.90B	$2.88B	$2.86B	$2.79B	$2.77B	$2.75B	$2.76B	$2.75B	$2.44B	$2.39B	$2.42B	$2.44B
Goodwill & intangible assets	$10.78B	$10.84B	$10.58B	$10.56B	$10.59B	$10.57B	$10.62B	$10.32B	$9.09B	$9.02B	$8.90B	$8.95B
Long-term investments	$137.0M	$134.0M	$136.0M	$137.0M	$136.0M	$134.0M	$123.0M	$125.0M	$126.0M	$133.0M	$135.0M	$130.0M
Other non-current assets	$277.0M	$256.0M	$270.0M	$296.0M	$271.0M	$260.0M	$255.0M	$272.0M	$216.0M	$182.0M	$198.0M	$149.0M
Total assets	$16.94B	$16.67B	$16.23B	$16.20B	$15.97B	$15.80B	$16.15B	$16.09B	$13.88B	$13.95B	$14.02B	$13.48B
Liabilities
Accounts payable	—	$1.50B	$1.60B	$1.46B	$1.31B	$1.25B	$1.39B	$1.27B	$1.20B	$1.19B	$1.35B	$1.14B
Short-term debt	$190.0M	$677.0M	$678.0M	$677.0M	$675.0M	$174.0M	$775.0M	$779.0M	$765.0M	$1.06B	$456.0M	$461.0M
Deferred revenue	—	—	—	—	—	—	—	−$1.31B	−$1.41B	—	−$1.51B	−$1.14B
Total current liabilities	$1.79B	$2.18B	$2.28B	$2.13B	$2.02B	$1.44B	$2.17B	$2.09B	$2.01B	$2.30B	$1.81B	$1.62B
Long-term debt	$5.63B	$5.16B	$5.17B	$5.17B	$5.17B	$5.86B	$5.62B	$5.65B	$3.82B	$3.80B	$4.41B	$3.95B
Lease obligations	$741.0M	$748.0M	$711.0M	$707.0M	$711.0M	$711.0M	$708.0M	$719.0M	$666.0M	$642.0M	$656.0M	$662.0M
Other long-term liabilities	$1.62B	$1.68B	$1.49B	$1.52B	$1.43B	$1.46B	$1.47B	$1.43B	$1.32B	$1.31B	$1.38B	$1.38B
Total liabilities	$9.12B	$9.01B	$8.94B	$8.82B	$8.62B	$8.75B	$9.26B	$9.17B	$7.15B	$7.41B	$7.60B	$6.94B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M
Retained earnings (deficit)	$10.37B	$10.15B	$9.99B	$9.84B	$9.68B	$9.49B	$9.36B	$9.22B	$9.08B	$8.94B	$8.82B	$8.71B
Accumulated other comprehensive income	−$62.0M	−$43.0M	−$27.0M	−$40.0M	−$16.0M	−$83.0M	−$88.0M	−$15.0M	−$19.0M	−$16.0M	−$14.0M	−$20.0M
Minority interest	$383.0M	$379.0M	$116.0M	$118.0M	$118.0M	—	—	—	—	—	—	—
Total shareholders' equity	$7.52B	$7.37B	$7.17B	$7.26B	$7.23B	$6.93B	$6.78B	$6.81B	$6.62B	$6.43B	$6.31B	$6.42B
Key figures
Total debt	$6.38B	$6.98B	$6.92B	$6.38B	$6.38B	$6.57B	$6.92B	$6.97B	$5.09B	$5.35B	$5.37B	$4.91B
Net cash (debt)	−$5.76B	−$6.59B	−$6.50B	−$5.95B	−$6.07B	−$6.38B	−$6.38B	−$6.21B	−$4.82B	−$4.88B	−$4.68B	−$4.77B
Working capital	$1.06B	$389.0M	$100.0M	$273.0M	$174.0M	$634.0M	$223.0M	$531.0M	$5.0M	−$70.0M	$557.0M	$197.0M
Tangible book value	−$3.27B	−$3.47B	−$3.41B	−$3.31B	−$3.36B	−$3.65B	−$3.84B	−$3.51B	−$2.47B	−$2.59B	−$2.59B	−$2.53B
Book value per share	$67.11	$65.77	$64.02	$64.23	$63.96	$61.32	$59.98	$60.26	$59.08	$57.43	$55.81	$56.36
Shares outstanding	112.0M	112.0M	112.0M	113.0M	113.0M	113.0M	113.0M	113.0M	112.0M	112.0M	113.0M	114.0M
Current ratio	1.59	1.18	1.04	1.13	1.09	1.44	1.10	1.25	1.00	0.97	1.31	1.12
Quick ratio	1.28	0.91	0.80	0.88	0.86	1.10	0.85	1.02	0.79	0.78	1.04	0.88
Debt / equity	0.85	0.95	0.96	0.88	0.88	0.95	1.02	1.02	0.77	0.83	0.85	0.76
Equity / assets	44.4%	44.2%	44.2%	44.8%	45.3%	43.9%	42.0%	42.3%	47.7%	46.1%	45.0%	47.7%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.

DGX financial position

At the end of fiscal 2025 (December 31, 2025), Quest Diagnostics had total assets of $16.2 billion (up 0.4% from a year earlier), total liabilities of $8.9 billion and shareholders' equity of $7.2 billion. It held $420.0 million in cash and short-term investments against $6.9 billion of debt, net debt of $6.5 billion. Its current ratio was 1.04. In the latest quarter (ended June 30, 2026) total assets were $16.9 billion and equity $7.5 billion.

Related: DGX income statement, DGX cash flow statement, DGX key metrics. See the DGX stock overview for the latest quote and news.

DGX balance sheet FAQ

What are Quest Diagnostics's total assets?

Quest Diagnostics reported total assets of $16.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $16.2 billion a year earlier.

How much debt does Quest Diagnostics have?

Quest Diagnostics had $6.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.96.

How much cash does Quest Diagnostics have?

Quest Diagnostics held $420.0 million in cash and short-term investments at the end of fiscal 2025; with $6.9 billion of debt that is net debt of $6.5 billion.

What is Quest Diagnostics's book value?

Quest Diagnostics's shareholders' equity (book value) was $7.2 billion at the end of fiscal 2025, or $63.45 per share.

What is Quest Diagnostics's current ratio?

Quest Diagnostics had current assets of $2.4 billion and current liabilities of $2.3 billion, a current ratio of 1.04 (it can cover its short-term obligations).

How much goodwill does Quest Diagnostics have?

Quest Diagnostics carried $10.6 billion of goodwill and intangible assets, 65.2% of total assets, at the end of fiscal 2025.