10 Year Financial Data of Laboratory Corporation of America Holdings (LH)

100.71 (1y: +19%)

Market Cap	9.43 B	P/E(ttm)	17.30
Enterprise Value	11.49 B	P/B	3.40

LH- NYSE (USA)
Laboratory Corporation of America Holdings

Currently 5/5

Business Predictability Rank: 5-Star
Back Testing Results:
Average gain of all 5-Star stocks: 12.1% per year.
% of Stocks that are in still loss if held for 10yrs: 3%.
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$100.71

1 Severe Warning Sign 2 Medium Warning Signs 1 Good Sign

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Annual Rates (per share)	10 yrs*	5 yrs*	12 months*
Revenue Growth (%)	13.8	10	6.9
EBITDA Growth (%)	13.2	8.1	4.8
Free Cash Flow Growth (%)	11.6	4.2	1.2
Book Value Growth (%)	9.3	15.7	12.2

*12-month growth rate is calculated with the per share revenue (EBITDA, FCF, earnings) of the last 12 months over the per share revenue (EBITDA, FCF, earnings) over the previous 12 months. 5-year and 10-year growth rates are calculated with least-square regression based on the 5-year and 10-year numbers.

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See this page for the explanation of the data and charts * All numbers are in millions except for per share data

Per Share Data	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue per Share ($)	20.33	20.82	23.35	26.96	33.53	40.59	43.03	47.48	54.44	58.23	59.18	14.36	14.52	14.66	14.75	15.25
EBITDA per Share	4.63	4.98	5.39	6.40	7.75	9.21	10.37	11.22	11.59	12.87	12.76	3.47	3.39	3.13	2.88	3.36
Free Cashflow per Share	3.32	2.99	3.37	3.87	4.67	5.62	6.85	7.19	6.97	6.83	6.87	1.63	1.54	1.65	2.02	1.66
Earnings per Share ($)	2.22	2.45	2.71	3.24	3.93	4.16	4.98	5.29	5.11	5.99	5.91	1.63	1.56	1.53	1.26	1.56
Book Value per Share	13.11	13.49	13.23	14.84	14.22	15.21	19.30	23.40	24.59	27.90	29.40	26.21	26.86	28.07	28.51	29.40
Month End Stock Price	36.95	49.82	53.85	73.47	75.53	64.41	74.84	87.92	85.97	86.62	90.20	91.54	92.61	92.47	86.62	90.20
Ratios	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Return on Equity %	16.90	18.20	20.50	21.80	27.60	27.50	25.80	22.60	20.80	21.50	21.20	24.80	23.20	21.60	17.60	21.20
Return on Assets %	9.40	10.10	10.00	10.80	10.90	9.90	11.20	9.00	8.50	8.60	8.80	10.40	10.00	8.80	7.20	8.80
Return on Capital - Joel Greenblatt %	80.60	101	91.30	97.30	93.40	95.40	136	132	113	102	100.00	128	118	101	85.60	100.00
Debt to Equity	0.47	0.45	0.61	0.59	0.97	1.02	0.66	0.89	0.89	0.98	0.84	0.82	0.80	0.98	0.98	0.84

Gross Margin %	41.70	41.80	41.80	42.60	41.60	41.60	42.00	41.90	41.00	39.70	39.70	40.50	40.70	39.20	38.30	39.70
Operating Margin %	18.20	19.40	18.60	19.40	19.10	18.70	19.90	19.60	17.10	18.00	18.20	20.20	19.40	17.30	15.30	18.20
Net Margin %	10.90	11.80	11.60	12.00	11.70	10.30	11.60	11.20	9.40	10.30	10.20	11.40	10.80	10.40	8.60	10.20

Days Sales Outstanding	53.70	52.20	54.10	55.00	55.90	51.20	44.60	47.80	46.10	46.20	50.10	48.10	47.00	49.30	46.50	50.10
Days Inventory	10.00	12.50	12.30	14.90	12.30	12.60	12.10	13.00	12.40	12.90	13.00	11.50	12.30	12.50	12.70	13.00
Inventory Turnover	36.50	29.20	29.60	24.50	29.60	28.90	30.30	28.10	29.50	28.30	7.00	7.90	7.40	7.30	7.20	7.00

Debt to Revenue	0.30	0.29	0.35	0.32	0.41	0.38	0.30	0.44	0.40	0.47	1.61	1.49	1.48	1.87	1.89	1.61
COGS to Revenue	0.58	0.58	0.58	0.57	0.58	0.58	0.58	0.58	0.59	0.60	0.60	0.60	0.59	0.61	0.62	0.60
Inventory to Revenue	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.09	0.08	0.08	0.08	0.09	0.09
Interest Exp. to Revenue %	-1.39	-1.17	-1.03	-1.33	-1.39	-1.54	-1.31	-1.38	-1.56	-1.65	-1.69	-1.50	-1.48	-1.68	-1.94	-1.69

Asset Turnover	0.86	0.86	0.86	0.90	0.93	0.97	0.97	0.81	0.90	0.84	0.22	0.23	0.23	0.21	0.21	0.22
Buyback Ratio	-6.50	-15.50	-16.10	-19.00	-16.30	-13.90	-4.50	-14.60	-22.20	-14.70	-19.50	-16.20	-11.20	-21.40	-8.90	-19.50
Income Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue	2,939	3,085	3,328	3,591	4,068	4,505	4,695	5,004	5,542	5,671	5,689	1,423	1,423	1,419	1,405	1,441
Cost of Goods Sold	1,715	1,796	1,937	2,061	2,377	2,631	2,724	2,906	3,268	3,422	3,443	847	844	863	867	869
Gross Profit	1,225	1,289	1,390	1,529	1,691	1,874	1,971	2,098	2,275	2,250	2,246	576	580	556	538	572

Selling, General, &Admin. Expense	652	649	704	779	809	935	959	1,034	1,160	1,115	1,127	271	280	285	279	283
Earnings Before DDA	669	737	768	852	940	1,023	1,131	1,182	1,180	1,253	1,227	344	332	303	275	318

Depreciation, Depletion and Amortization	136	139	150	155	163	180	195	204	231	230	229	56.70	56.10	57.60	59.40	55.50

Operating Income	534	598	618	697	777	843	936	979	948	1,024	998	287	276	245	215	262
Interest Income/Expense	-40.90	-36.10	-34.40	-47.80	-56.60	-69.50	-61.30	-68.90	-86.20	-93.50	-96.50	-21.30	-21.10	-23.80	-27.30	-24.30
Net Income	321	363	386	432	477	465	543	558	520	583	569	162	153	148	120	147

Earnings per Share ($)	2.22	2.45	2.71	3.24	3.93	4.16	4.98	5.29	5.11	5.99	5.91	1.63	1.56	1.53	1.26	1.56
Total Shares Outstanding	145	148	143	133	121	111	109	105	102	97.40	94.50	99.10	98.00	96.80	95.30	94.50
Balance Sheet	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Cash and cash equivalents	123	207	63.10	187	166	220	149	231	159	467	186	130	124	466	467	186
Accounts Receivable	433	441	493	541	623	632	574	656	700	719	794	752	736	769	719	794
Inventory	47.00	61.50	65.40	84.30	80.40	91.00	90.00	103	111	121	124	107	114	119	121	124
Other Current Assets	55.40	30.30	80.40	74.50	67.60	90.50	123	154	115	85.50	86.40	93.30	89.20	102	85.50	86.40
Total Current Assets	658	740	702	887	938	1,033	936	1,144	1,085	1,392	1,190	1,082	1,063	1,456	1,392	1,190

Property, Plant and Equipment	361	360	382	393	439	496	501	587	578	631	635	577	576	612	631	635
Intangible Assets	1,857	1,857	2,123	2,094	2,253	2,995	3,239	4,275	4,303	4,569	4,539	4,297	4,283	4,550	4,569	4,539
Other Long Term Assets	538	644	669	626	739	146	162	182	171	203	206	175	176	196	203	206
Total Assets	3,415	3,601	3,876	4,001	4,368	4,670	4,838	6,188	6,137	6,795	6,569	6,131	6,098	6,814	6,795	6,569

Accounts Payable	234	301	344	377	369	426	459	611	662	549	593	633	584	634	549	593
Current Portion of Long-Term Debt	524	0.10	545	554	590	121	417	362	136	480	148	136	134	485	480	148
Other Current Liabilities	0.00	--	--	--	9.90	-0.00	142	148	--	--	--	--	--	0.00	--	--
Total Current Liabilities	758	301	888	931	968	547	1,018	1,121	797	1,029	741	769	719	1,119	1,029	741

Long-Term Debt	361	892	605	603	1,078	1,601	977	1,827	2,086	2,175	2,175	1,985	1,975	2,175	2,175	2,175
Other Long-Term Liabilities	401	409	498	490	598	834	736	774	750	874	876	778	773	803	874	876
Total Liabilities	1,519	1,602	1,990	2,024	2,643	2,981	2,732	3,722	3,633	4,078	3,791	3,533	3,467	4,098	4,078	3,791

Common Stock	14.90	15.10	14.80	14.40	13.20	12.80	12.50	12.20	11.70	11.30	11.20	11.60	11.50	11.40	11.30	11.20
Retained Earnings	587	950	1,336	1,768	2,244	2,600	2,928	3,247	3,387	3,589	3,668	3,470	3,523	3,588	3,589	3,668
Additional Paid-In Capital	1,441	1,504	1,340	1,028	246	22.00	36.70	53.90	--	--	--	--	--	--	--	--
Treasury Stock	-159	-544	-889	-892	-897	-930	-933	-935	-941	-952	-954	-944	-952	-952	-952	-954
Total Equity	1,896	1,999	1,886	1,977	1,725	1,688	2,106	2,466	2,504	2,717	2,778	2,598	2,632	2,717	2,717	2,778
Cashflow Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Net Income	321	363	386	432	477	465	556	572	533	585	570	162	154	148	121	148
Depreciation, Depletion and Amortization	136	139	150	155	163	180	195	204	231	230	229	56.70	56.10	57.60	59.40	55.50
Cash Flow from Others	108	36.30	38.20	45.70	70.10	137	112	108	91.10	26.80	43.50	-21.60	-23.60	-2.20	74.20	-4.90
Cash Flow from Operations	564	538	574	632	710	781	862	884	856	841	843	197	186	204	254	198

Investment for Property, Plant & Equipement	-83.60	-95.00	-93.60	-117	-143	-158	-115	-126	-146	-176	-183	-35.20	-35.10	-44.20	-61.80	-41.70
Cash Flow from Acquisitions	-648	-40.00	-343	-40.00	-225	-349	-216	-1,186	-138	-335	-351	-1.50	-26.40	-258	-49.30	-17.70
Cash Flow from Investing	-711	-140	-299	-273	-342	-396	-334	-1,318	-280	-534	-560	-36.20	-65.40	-311	-122	-61.50

Net Issuance of Stock	-134	-312	-522	-395	-844	-269	-248	-255	-526	-431	-420	-96.10	-113	-96.20	-125	-85.10
Net Issuance of Debt	348	-1.90	247	31.90	465	48.50	-340	789	29.00	432	199	-100	-12.30	550	-5.70	-333
Cash Flow for Dividends	--	--	--	--	--	--	--	--	-7.40	-1.20	-0.90	-0.30	-0.40	-0.20	-0.30	--
Other Financing	-2.00	--	-2.40	9.10	14.90	2.20	-12.40	-18.50	-141	-0.70	-0.50	5.00	0.70	-7.00	0.60	5.20
Cash Flow from Financing	212	-314	-277	-354	-364	-219	-601	515	-645	-0.80	-222	-192	-125	447	-131	-413

Net Change in Cash	66.60	83.80	-2.20	6.10	4.90	163	-71.20	82.20	-71.40	308	55.90	-29.40	-5.50	342	0.80	-281

Free Cash Flow	481	443	481	516	566	623	748	758	710	665	660	162	151	160	192	157
Valuation Ratios (Daily)	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

PE Ratio(ttm)
Price to Tangible Book
Price-to-Free-Cash-Flow ratio
PS Ratio
EV-to-Revenue
EV-to-EBITDA
EV-to-EBIT
Earnings Yield (Joel Greenblatt)
Forward Rate of Return
Shiller PE Ratio
Valuation and Quality	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Market Cap
Enterprise Value
Month End Stock Price
Net Cash (per share)
Net Current Asset Value (per share)
DCF (per share)
Median PS (per share)
Peter Lynch Fair Value (per share)
Graham Number (per share)
Altman Z-Score
Piotroski F-Score
Beneish M-Score

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LH Quarterly/Annuals Reports

LH: 10-Q - LABORATORY CORP OF AMERICA HOLDINGS (0000920148) (Filer): (10-Q) - 2012-10-30
LH: 10-Q - LABORATORY CORP OF AMERICA HOLDINGS (0000920148) (Filer): (10-Q) - 2012-04-27
LH: 10-Q - LABORATORY CORP OF AMERICA HOLDINGS (0000920148) (Filer): (10-Q) - 2011-10-31
LH: 10-Q - LABORATORY CORP OF AMERICA HOLDINGS (0000920148) (Filer): (10-Q) - 2011-08-02
LH: 10-K/A - LABORATORY CORP OF AMERICA HOLDINGS (0000920148) (Filer): (10-K/A) - 2011-03-07

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