Labcorp Holdings (LH) Operating Margin (2009 - 2026)
Labcorp Holdings' Operating Margin was 12.10% in Q2 2026, up 0.92 percentage points from 11.18% a year earlier and up 1.34 percentage points from the prior quarter.
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Analysis
Labcorp Holdings (LH) Operating Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Labcorp Holdings' Operating Margin was 10.43% through Jun 30, 2026, up 1.60 percentage points year-over-year; for FY2025, it was 9.92%, up 1.57 percentage points from FY2024.
- Operating Margin shows a five-year change of -7.57 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 8.35% in FY2024 (+2.39 pp), 5.97% in FY2023 (-6.14 pp), 12.11% in FY2022 (-11.10 pp) and 23.21% in FY2021 (+5.71 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin since Q3 2022.
- Compared with a year earlier, Operating Margin has increased for five straight quarters, with an average year-over-year change of +2.27 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q4 2021 (a gain of 19.71 percentage points); the worst was Q4 2022 (a drop of 47.54 percentage points).
- Per Business Quant data, LH's Operating Margin in the three quarters before Q2 2026 was 10.76% (Q1 2026), 7.61% (Q4 2025) and 11.13% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 98.64 Bn | 98.22 Bn | - | - |
| 2 | Natera | 54.42 Bn | 50.10 Bn | 485.19 Mn | -10.07% |
| 3 | Labcorp Holdings | 28.77 Bn | 26.87 Bn | 1.11 Bn | 10.55% |
| 4 | Quest Diagnostics | 27.60 Bn | 25.68 Bn | 1.04 Bn | 15.47% |
| 5 | Guardant Health | 22.81 Bn | 18.87 Bn | 219.03 Mn | -38.55% |
| 6 | Tenet Healthcare | 21.39 Bn | 12.88 Bn | - | 31.08% |
| 7 | Tempus AI | 13.75 Bn | 10.78 Bn | 246.50 Mn | -19.85% |
| 8 | Encompass Health | 13.53 Bn | 14.00 Bn | - | - |
| 9 | BrightSpring Health Services | 13.09 Bn | 11.43 Bn | 492.75 Mn | 3.37% |
| 10 | Fresenius Medical Care AG | 12.64 Bn | 5.70 Bn | 1.52 Bn | 9.58% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 10.55% |
| Jun 30, 2026 | 12.10% |
| Mar 31, 2026 | 10.76% |
| Dec 31, 2025 | 7.61% |
| Sep 30, 2025 | 11.13% |
| Jun 30, 2025 | 11.18% |
| Mar 31, 2025 | 9.75% |
| Dec 31, 2024 | 6.50% |
| Sep 30, 2024 | 7.74% |
| Jun 30, 2024 | 9.15% |
| Mar 31, 2024 | 10.11% |
| Dec 31, 2023 | -4.05% |
| Sep 30, 2023 | 8.25% |
| Jun 30, 2023 | 8.78% |
| Mar 31, 2023 | 10.86% |
| Dec 31, 2022 | 0.97% |
| Sep 30, 2022 | 13.05% |
| Jun 30, 2022 | 14.67% |
| Mar 31, 2022 | 17.64% |
| Dec 31, 2021 | 48.51% |
API Access
Labcorp Holdings Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=LH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "LH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=LH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();