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Labcorp Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$412M in Q3 2026 · $1.3B over twelve months

Operating cash flow$564M
Capital spending−$152M
Free cash flow+$412M
Cash / net income2.1×
Cash conversion cycle52 days

Analysis

In Q3 2026, Labcorp Holdings generated $564M of operating cash flow and spent $152M on capital projects, leaving free cash flow of $412M. That is $132M more than in Q3 2025 ($280M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.8B; the largest uses were acquisitions ($941M), buybacks ($677M), capital spending ($528M); besides operations, cash came from other financing ($823M); the cash balance fell by $336M.

Operating cash flow was $564M against net income of $263M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$183M, receivables −$70.2M, payables +$58.0M.

Its cash conversion cycle was 52 days (receivables 57 + inventory 19 − payables 24).

Free cash flow

Labcorp Holdings: free cash flow by quarterLabcorp Holdings: free cash flow by quarter$665MQ4 2024−$108MQ1 2025$543MQ2 2025$280MQ3 2025$490MQ4 2025$70.5MQ1 2026$314MQ2 2026$412MQ3 2026
Operating cash flow less capital spending.
Labcorp Holdings: operating cash flow against capital spendingLabcorp Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$777M$112MQ4 2024$18.5M$126MQ1 2025$621M$77.9MQ2 2025$387M$107MQ3 2025$614M$124MQ4 2025$192M$121MQ1 2026$446M$132MQ2 2026$564M$152MQ3 2026
Latest (Q3 2026): Operating cash flow $564M, Capital spending $152M.

Capital allocation, year by year

Labcorp Holdings: where the cash came from (up) and went (down), by fiscal yearLabcorp Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $3.1BFY2021: Net borrowing −$13.1MFY2021: Shares issued $6.8MFY2021: Asset sales $87.3MFY2021: Capital spending −$422MFY2021: Acquisitions −$497MFY2021: Buybacks −$1.7B$3.2BFY2021FY2022: Operating cash flow $2.0BFY2022: Net borrowing −$12.3MFY2022: Shares issued $7.1MFY2022: Asset sales $3.0MFY2022: Capital spending −$429MFY2022: Acquisitions −$1.2BFY2022: Buybacks −$1.1BFY2022: Dividends −$195M$2.0BFY2022FY2023: Operating cash flow $1.3BFY2023: Net borrowing −$313MFY2023: Shares issued $2.9MFY2023: Asset sales $600KFY2023: Capital spending −$454MFY2023: Acquisitions −$672MFY2023: Buybacks −$1.0BFY2023: Dividends −$254M$1.3BFY2023FY2024: Operating cash flow $1.6BFY2024: Net borrowing $971MFY2024: Shares issued $6.5MFY2024: Asset sales $13.5MFY2024: Capital spending −$490MFY2024: Acquisitions −$839MFY2024: Buybacks −$250MFY2024: Dividends −$243M$2.6BFY2024FY2025: Operating cash flow $1.6BFY2025: Net borrowing −$1.0BFY2025: Shares issued $2.5MFY2025: Asset sales $8.0MFY2025: Capital spending −$434MFY2025: Acquisitions −$582MFY2025: Buybacks −$450MFY2025: Dividends −$241M$1.7BFY2025
Over these 5 years operating cash flow totalled $9.6B; the largest uses were buybacks ($4.5B) and acquisitions ($3.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$262M
Debt$5.9B
Net debt$5.6B
Due within a year$500M

Labcorp Holdings funds itself: free cash flow was $1.3B over the last twelve months, and $262M of cash and investments stands against $5.9B of debt ($500M due within a year, 0.5× covered by cash).

Labcorp Holdings: debt maturities by year (FY2025)Labcorp Holdings: debt maturities by year (FY2025)$500MYear 1$600MYear 2$1.2BYear 4$650MYear 5$2.7BAfter year 5
Principal due in each year as disclosed in the annual report, against $262M of cash and investments now.

Where the cash came from and went

Labcorp Holdings: sources (+) and uses (−) of cash, Q3 2026Labcorp Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$564MAcquisitions−$256MCapital spending−$152MCash drawn (+) / kept (−)−$120MDividends−$58.2MOther financing$49.8MOther investing−$26.6MTaxes on employees’ shares−$1.6MExchange rates−$100K
Labcorp Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Labcorp Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.8BAcquisitions−$941MOther financing$823MBuybacks−$677MCapital spending−$528MNet borrowing (+) / repaid (−)−$500MCash drawn (+) / kept (−)$336MDividends−$237MTaxes on employees’ shares−$49.0MOther investing−$42.4MNot reconciled$400K

From profit to cash

Labcorp Holdings: net income to operating cash flow, Q3 2026Labcorp Holdings: net income to operating cash flow, Q3 2026Net income$263MDepreciation & amortization$183MStock-based pay$30.8MReceivables−$70.2MInventory$25.3MPayables$58.0MAccrued liabilities−$53.0MDeferred revenue$10.2MContract assets$18.8MPrepaid and other assets$4.4MOperating cash flow$564M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202657192452
Q2 202656182451
Q1 202656182747
Q4 202555192847
Q3 202555192647
Q2 202555182845
Q1 202555183043
Q4 202455182945

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$564M−$152M−$256M—−$58.2M—−$120M$412M
Q2 2026$446M−$132M−$226M−$354M−$58.7M−$500M$839M$314M
Q1 2026$192M−$121M−$202M−$98.0M−$61.2M—−$449M$70.5M
Q4 2025$614M−$124M−$258M−$225M−$59.3M—$65.8M$490M
Q3 2025$387M−$107M−$260M−$25.0M−$59.9M—$49.2M$280M
Q2 2025$621M−$77.9M−$10.0M−$200M−$59.9M—−$278M$543M
Q1 2025$18.5M−$126M−$53.5M—−$61.6M−$1.0B$1.1B−$108M
Q4 2024$777M−$112M−$87.8M−$75.1M−$60.1M−$399M−$1.4M$665M

Labcorp Holdings: income statement and cash flow

Labcorp Holdings, Q3 2026: revenue $3.8B (+7% year over year), operating margin 10.6%. The chart follows the revenue to costs, profit and cash.

Labcorp Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.