Quest Diagnostics Incorporated (DGX) Fair Value & Analysis
Healthcare · US · Market cap $23.3B
Quest Diagnostics Incorporated
DGX · US
Fair value as of: Jul 20, 2026
From 25 valuation models · updated 18 days ago
Fair value updated Jul 20, 2026, revised from $163.94 to $164.25 (+0.2%) since Jul 16, 2026. Share price +12.8% over the past month.
A solid business, but screening 31% overvalued on our models.
What matters now
- A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- A fairly wide model range ($94.57 to $242.35) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range $112.55 – $238.50 · fair‑value band $94.57 – $242.35 · the $238.50 price screens above the $164.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Quest Diagnostics Incorporated (DGX) currently trades at $238.50, while our model-based Fair Value estimate is $164.25, implying the stock looks roughly 31.1% overvalued today. We read business quality at 71/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Quest Diagnostics Incorporated generated revenue of $11.3B at a net margin of 9.1%. Revenue grew 9.2% year over year. It earns a return on equity of 14.5%. Net debt stands at $6.5B. Fundamentals as of Jul 20, 2026
Our scenario range runs from $94.57 (bear case) to $242.35 (bull case); at $238.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -48% fair-value upside, at -31%, DGX screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 25 models by family
Widest divergence: Multiples ($152.34) versus Asset-Based ($43.40). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 82
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Quest Diagnostics Incorporated provides diagnostic testing and services in the United States. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
Full company description
Quest Diagnostics Incorporated provides diagnostic testing and services in the United States. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services. It also provides services under the Quest Diagnostics brand, as well as under the AmeriPath, Dermpath Diagnostics, ExamOne, and Quanum brands to physicians, hospitals, patients and consumers, health plans, government agencies, employers, retailers, pharmaceutical companies and insurers commercial clinical laboratories, and accountable care organizations through a network of laboratories, patient service centers, phlebotomists in physician offices, call centers and mobile phlebotomists, nurses, and other health and wellness professionals. In addition, the company offers risk assessment services for the life insurance industry; healthcare IT healthcare providers and payers; testing and medical director services at hospital laboratories; test offerings in cardiometabolic and endocrine; cancer; clinical drug monitoring and toxicology; infectious disease, including autoimmune; neurology diagnostics, including Alzheimer's disease; and women's health, such as prenatal genetic; workplace drug testing, testing urine, hair, and oral fluid specimens services; and employer population health services, including biometric screenings, flu shots, and related preventative services. Further, it provides population health solutions; extended care services; develops in vitro diagnostic tests; laboratory diagnostic information and digital health connectivity systems; underwriting support services, including data gathering, paramedical examinations, and clinical laboratory testing and analytics; and national specimen collection and health data solutions. Quest Diagnostics Incorporated was founded in 1967 and is headquartered in Secaucus, New Jersey.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Quest Diagnostics Incorporated reported revenue of $11.0B in FY2025 versus $10.8B in FY2021, a compound +0.6%/yr. Reported net income was $992M in FY2025, compounding −16.0%/yr from FY2021.
DGX screens 31% overvalued. Compare with Thermo Fisher Scientific Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Quest Diagnostics Raises 2026 Outlook as Testing Demand Accelerates
- Is DGX Stock Worth Buying After Its Strong 2026 Earnings Momentum?
- Quest Diagnostics Growth Drivers Investors Should Watch Now in 2026
Peer Group
Diagnostics & Research · 137 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Diagnostics & Research median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Thermo Fisher Scientific Inc TMO | $543.19 | $308.19 | -43% |
| Danaher Corporation DHR | $199.66 | $103.88 | -48% |
| WuXi AppTec Co 2359 | HK$160.70 | HK$125.20 | -22% |
| Lonza Group LONN | CHF 567.80 | CHF 259.80 | -54% |
| IDEXX Laboratories, Inc IDXX | $567.44 | $255.77 | -55% |
| Agilent Technologies, Inc A | $131.46 | $62.70 | -52% |
| Waters Corporation WAT | $368.98 | $121.96 | -67% |
| IQVIA Holdings IQV | $207.85 | $134.18 | -35% |
| Integrated Diagnostics Holdings IDHC | $0.0050 | $0.0053 | +5% |
| Illumina, Inc ILMN | $186.65 | $95.51 | -49% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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