BrightSpring Health Services vs Quest Diagnostics
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KIRA’s take AI analyst
I put BrightSpring Health Services and Quest Diagnostics side by side, using each one’s latest annual report. Here is what stands out:
- BrightSpring Health Services is the larger business, with $12.9B of revenue in fiscal 2025 against $11.0B for Quest Diagnostics.
- BrightSpring Health Services grew revenue faster (28.2%, against 11.8%).
- Quest Diagnostics kept more of each dollar of sales as operating profit (14.1% operating margin, against 2.3%).
- Quest Diagnostics turned more of its sales into free cash flow (12.3% FCF margin, against 3.1%).
- Quest Diagnostics earned a higher return on the capital invested in it (9.5%, against 5.3%).
- Investors pay more for each dollar of BrightSpring Health Services’s earnings: a P/E of 35.5x against 24.2x for Quest Diagnostics.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
BrightSpring Health Services
BTSG
2/10
Revenue growthPiotroski F-score
Quest Diagnostics
DGX
8/10
Gross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | BTSG FY25 | DGX FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.0B | $27.2B |
| Revenue | $12.9B | $11.0B |
| Free cash flow | $395M | $1.4B |
| Net income | $191M | $992M |
| Growth | ||
| Revenue growth | 28.2% | 11.8% |
| 5-year growth | — | 3.2% |
| Share count change | 13.9% | 0.0% |
| Profitability | ||
| Gross margin | 11.8% | 33.2% |
| Operating margin | 2.3% | 14.1% |
| Net margin | 1.5% | 9.0% |
| FCF margin | 3.1% | 12.3% |
| Return on capital | 5.3% | 9.5% |
| Return on equity | 10.8% | 14.2% |
| Balance sheet | ||
| Net debt | $2.4B | $5.3B |
| Net debt / EBITDA | 5.3x | 2.5x |
| Dividends and buybacks | $43.2M | $803M |
| Valuation & quality | ||
| P/E | 35.5x | 24.2x |
| Piotroski F-score | 7 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.