Quest Net Income vs Net Borrowings Analysis

DGX Stock

USD 163.59 0.30 0.18%

Quest Diagnostics financial indicator trend analysis is much more than just breaking down Quest Diagnostics prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Quest Diagnostics is a good investment. Please check the relationship between Quest Diagnostics Net Income and its Net Borrowings accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Quest Diagnostics Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Net Income vs Net Borrowings

Net Income vs Net Borrowings Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Quest Diagnostics Net Income account and Net Borrowings. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Quest Diagnostics' Net Income and Net Borrowings is -0.2. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Net Borrowings in the same time period over historical financial statements of Quest Diagnostics Incorporated, assuming nothing else is changed. The correlation between historical values of Quest Diagnostics' Net Income and Net Borrowings is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of Quest Diagnostics Incorporated are associated (or correlated) with its Net Borrowings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Borrowings has no effect on the direction of Net Income i.e., Quest Diagnostics' Net Income and Net Borrowings go up and down completely randomly.

Correlation Coefficient

-0.2

Relationship Direction	Negative
Relationship Strength	Insignificant

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Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Quest Diagnostics financial statement analysis. It represents the amount of money remaining after all of Quest Diagnostics Incorporated operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Net Borrowings

The difference between the amount of new debt a company has taken on and the amount of debt it has paid off during a given period.

Most indicators from Quest Diagnostics' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Quest Diagnostics current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Quest Diagnostics Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

At this time, Quest Diagnostics' Discontinued Operations is fairly stable compared to the past year. Tax Provision is likely to rise to about 266.4 M in 2024, whereas Selling General Administrative is likely to drop slightly above 1.5 B in 2024.

	2021	2022	2023	2024 (projected)
Gross Profit	4.2B	3.4B	3.1B	2.7B
Total Revenue	10.8B	9.9B	9.3B	6.9B

Gross Profit Total Revenue

Quest Diagnostics fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Common Stock	Intangible Assets
Total Assets		0.97	0.81	0.87	0.99	0.71	0.91	0.86	0.67	0.61	0.99	0.11	0.61	0.94	0.81	-0.09	0.99	0.84	0.25	-0.8	0.99	0.38	0.87	0.4	0.82	0.92
Short Long Term Debt Total	0.97		0.78	0.91	0.93	0.65	0.95	0.81	0.56	0.59	0.97	0.15	0.59	0.85	0.83	-0.03	0.97	0.75	0.26	-0.77	0.99	0.36	0.81	0.56	0.84	0.9
Other Current Liab	0.81	0.78		0.78	0.81	0.68	0.75	0.77	0.69	0.46	0.81	-0.33	0.46	0.81	0.57	-0.27	0.76	0.75	0.19	-0.72	0.8	0.39	0.69	0.42	0.56	0.84
Total Current Liabilities	0.87	0.91	0.78		0.82	0.66	0.84	0.73	0.56	0.64	0.85	0.13	0.64	0.82	0.71	-0.04	0.83	0.74	0.28	-0.66	0.9	0.38	0.82	0.76	0.7	0.87
Total Stockholder Equity	0.99	0.93	0.81	0.82		0.73	0.86	0.88	0.71	0.61	0.98	0.06	0.61	0.95	0.77	-0.13	0.97	0.86	0.21	-0.8	0.96	0.37	0.87	0.31	0.78	0.91
Property Plant And Equipment Net	0.71	0.65	0.68	0.66	0.73		0.52	0.84	0.77	0.76	0.67	-0.16	0.76	0.76	0.39	-0.58	0.66	0.82	-0.03	-0.71	0.69	0.81	0.77	0.3	0.34	0.63
Net Debt	0.91	0.95	0.75	0.84	0.86	0.52		0.75	0.4	0.33	0.94	0.19	0.33	0.75	0.9	0.07	0.93	0.62	0.39	-0.75	0.94	0.3	0.62	0.5	0.91	0.89
Retained Earnings	0.86	0.81	0.77	0.73	0.88	0.84	0.75		0.64	0.63	0.86	-0.03	0.63	0.82	0.73	-0.2	0.83	0.71	0.17	-0.95	0.83	0.64	0.73	0.3	0.69	0.85
Accounts Payable	0.67	0.56	0.69	0.56	0.71	0.77	0.4	0.64		0.7	0.61	-0.18	0.7	0.81	0.29	-0.48	0.62	0.89	0.09	-0.51	0.63	0.54	0.84	0.1	0.28	0.5
Cash	0.61	0.59	0.46	0.64	0.61	0.76	0.33	0.63	0.7		0.52	-0.04	1.0	0.68	0.26	-0.3	0.55	0.68	-0.18	-0.5	0.59	0.52	0.88	0.43	0.24	0.45
Non Current Assets Total	0.99	0.97	0.81	0.85	0.98	0.67	0.94	0.86	0.61	0.52		0.12	0.52	0.91	0.85	-0.06	0.99	0.79	0.27	-0.81	0.98	0.35	0.8	0.38	0.86	0.93
Non Currrent Assets Other	0.11	0.15	-0.33	0.13	0.06	-0.16	0.19	-0.03	-0.18	-0.04	0.12		-0.04	0.07	0.46	0.62	0.18	0.01	0.57	0.14	0.17	-0.08	0.08	-0.02	0.48	0.01
Cash And Short Term Investments	0.61	0.59	0.46	0.64	0.61	0.76	0.33	0.63	0.7	1.0	0.52	-0.04		0.68	0.26	-0.3	0.55	0.68	-0.18	-0.5	0.59	0.52	0.88	0.43	0.24	0.45
Net Receivables	0.94	0.85	0.81	0.82	0.95	0.76	0.75	0.82	0.81	0.68	0.91	0.07	0.68		0.68	-0.14	0.9	0.93	0.18	-0.69	0.91	0.38	0.93	0.29	0.68	0.85
Common Stock Total Equity	0.81	0.83	0.57	0.71	0.77	0.39	0.9	0.73	0.29	0.26	0.85	0.46	0.26	0.68		0.37	0.85	0.48	0.57	-0.69	0.84	0.27	0.54	0.32	0.99	0.8
Common Stock Shares Outstanding	-0.09	-0.03	-0.27	-0.04	-0.13	-0.58	0.07	-0.2	-0.48	-0.3	-0.06	0.62	-0.3	-0.14	0.37		-0.03	-0.4	0.39	0.18	-0.04	-0.57	-0.21	0.03	0.39	-0.02
Non Current Liabilities Total	0.99	0.97	0.76	0.83	0.97	0.66	0.93	0.83	0.62	0.55	0.99	0.18	0.55	0.9	0.85	-0.03		0.8	0.27	-0.77	0.99	0.35	0.82	0.35	0.86	0.88
Inventory	0.84	0.75	0.75	0.74	0.86	0.82	0.62	0.71	0.89	0.68	0.79	0.01	0.68	0.93	0.48	-0.4	0.8		0.1	-0.57	0.81	0.48	0.9	0.23	0.48	0.7
Other Current Assets	0.25	0.26	0.19	0.28	0.21	-0.03	0.39	0.17	0.09	-0.18	0.27	0.57	-0.18	0.18	0.57	0.39	0.27	0.1		-0.1	0.29	0.11	0.1	0.02	0.57	0.22
Other Stockholder Equity	-0.8	-0.77	-0.72	-0.66	-0.8	-0.71	-0.75	-0.95	-0.51	-0.5	-0.81	0.14	-0.5	-0.69	-0.69	0.18	-0.77	-0.57	-0.1		-0.77	-0.54	-0.59	-0.32	-0.66	-0.81
Total Liab	0.99	0.99	0.8	0.9	0.96	0.69	0.94	0.83	0.63	0.59	0.98	0.17	0.59	0.91	0.84	-0.04	0.99	0.81	0.29	-0.77		0.37	0.85	0.48	0.85	0.91
Property Plant And Equipment Gross	0.38	0.36	0.39	0.38	0.37	0.81	0.3	0.64	0.54	0.52	0.35	-0.08	0.52	0.38	0.27	-0.57	0.35	0.48	0.11	-0.54	0.37		0.42	0.18	0.19	0.34
Total Current Assets	0.87	0.81	0.69	0.82	0.87	0.77	0.62	0.73	0.84	0.88	0.8	0.08	0.88	0.93	0.54	-0.21	0.82	0.9	0.1	-0.59	0.85	0.42		0.4	0.54	0.7
Short Term Debt	0.4	0.56	0.42	0.76	0.31	0.3	0.5	0.3	0.1	0.43	0.38	-0.02	0.43	0.29	0.32	0.03	0.35	0.23	0.02	-0.32	0.48	0.18	0.4		0.3	0.49
Common Stock	0.82	0.84	0.56	0.7	0.78	0.34	0.91	0.69	0.28	0.24	0.86	0.48	0.24	0.68	0.99	0.39	0.86	0.48	0.57	-0.66	0.85	0.19	0.54	0.3		0.79
Intangible Assets	0.92	0.9	0.84	0.87	0.91	0.63	0.89	0.85	0.5	0.45	0.93	0.01	0.45	0.85	0.8	-0.02	0.88	0.7	0.22	-0.81	0.91	0.34	0.7	0.49	0.79

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Quest Diagnostics Account Relationship Matchups

Quest Diagnostics fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	12.8B	14.0B	13.6B	12.8B	14.0B	8.5B
Short Long Term Debt Total	5.3B	4.7B	4.7B	4.6B	5.4B	3.1B
Other Current Liab	778M	991M	1.1B	978M	981M	672.5M
Total Current Liabilities	2.0B	1.8B	1.8B	1.6B	1.8B	1.2B
Total Stockholder Equity	5.6B	6.8B	6.4B	5.9B	6.3B	3.9B
Property Plant And Equipment Net	2.0B	2.2B	2.3B	2.4B	2.4B	2.5B
Net Debt	4.1B	3.5B	3.8B	4.3B	4.7B	2.7B
Retained Earnings	8.2B	9.3B	7.6B	8.3B	8.8B	9.3B
Accounts Payable	263M	446M	357M	324M	378M	288.0M
Cash	1.2B	1.2B	872M	315M	686M	720.3M
Non Current Assets Total	10.4B	11.0B	10.9B	10.9B	11.7B	6.9B
Non Currrent Assets Other	160M	176M	163M	144M	198M	176.0M
Cash And Short Term Investments	1.2B	1.2B	872M	315M	686M	720.3M
Net Receivables	1.1B	1.5B	1.4B	1.2B	1.2B	892.3M
Liabilities And Stockholders Equity	12.8B	14.0B	13.6B	12.8B	14.0B	8.5B
Non Current Liabilities Total	5.1B	5.4B	5.3B	5.3B	5.8B	3.3B
Inventory	123M	223M	208M	192M	190M	104.0M
Other Current Assets	112M	157M	223M	196M	286M	227.8M
Other Stockholder Equity	(2.5B)	(2.5B)	(1.2B)	(2.4B)	(2.5B)	(2.4B)
Total Liab	7.1B	7.1B	7.0B	6.8B	7.6B	4.6B
Property Plant And Equipment Gross	2.0B	2.2B	2.3B	2.4B	5.8B	6.1B
Total Current Assets	2.5B	3.1B	2.7B	1.9B	2.4B	1.6B
Accumulated Other Comprehensive Income	(48M)	(59M)	(39M)	(21M)	(14M)	(14.7M)
Short Term Debt	949M	296M	269M	247M	456M	255.7M
Intangible Assets	1.2B	1.1B	1.2B	1.1B	1.2B	968.0M
Other Liab	683M	847M	792M	812M	933.8M	472.6M
Other Assets	64M	1.3B	163M	144M	165.6M	196.9M
Long Term Debt	4.0B	4.0B	4.0B	4.0B	4.4B	3.0B
Property Plant Equipment	1.5B	1.6B	2.3B	2.4B	2.7B	2.8B
Good Will	6.6B	6.9B	7.1B	7.2B	7.7B	5.7B
Treasury Stock	(5.2B)	(5.4B)	(3.5B)	(4.7B)	(4.2B)	(4.4B)
Net Tangible Assets	(1.6B)	(700M)	(1.8B)	(1.9B)	(2.1B)	(2.2B)
Noncontrolling Interest In Consolidated Entity	46M	50M	39M	37M	42.6M	34.3M
Retained Earnings Total Equity	8.2B	9.3B	7.6B	8.3B	9.5B	6.6B

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Quest Net Income vs Net Borrowings Analysis

Net Income vs Net Borrowings

Net Income vs Net Borrowings Correlation Analysis

Correlation Coefficient

Net Income

Net Borrowings

Quest Diagnostics fundamental ratios Correlations

Quest Diagnostics Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Quest Diagnostics fundamental ratios Accounts

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Additional Tools for Quest Stock Analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Cash And Short Term Investments	+ 1.0	Cash
Total Stockholder Equity	+ 0.99	Total Assets
Non Current Assets Total	+ 0.99	Total Assets
Non Current Liabilities Total	+ 0.99	Total Assets
Total Liab	+ 0.99	Total Assets
Total Liab	+ 0.99	Short Long Term Debt Total

Other Stockholder Equity	- 0.95	Retained Earnings
Intangible Assets	- 0.81	Other Stockholder Equity
Other Stockholder Equity	- 0.81	Non Current Assets Total
Other Stockholder Equity	- 0.8	Total Stockholder Equity
Other Stockholder Equity	- 0.8	Total Assets
Total Liab	- 0.77	Other Stockholder Equity