A Business at a Glance
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QuidelOrtho Corp
QDEL
$1.1B
Mkt Cap
$16.05
-3.20%
QuidelOrtho Corp (QDEL) has a 5-year average return on invested capital (ROIC) of 2.9%. This is below average and may indicate limited pricing power.
QuidelOrtho Corp (QDEL) has a market capitalization of $1.1B. It is classified as a small-cap stock.
QuidelOrtho Corp (QDEL) does not currently pay a regular dividend.
QuidelOrtho Corp (QDEL) operates in the In Vitro & In Vivo Diagnostic Substances industry, within the Healthcare sector.
QuidelOrtho Corp (QDEL) reported annual revenue of $2.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
QuidelOrtho Corp (QDEL) has a net profit margin of -41.5%. The company is currently unprofitable.
QuidelOrtho Corp (QDEL) generated $-83 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Item 1. Business All references to “the Company,” “we,” “our” and “us” in this Annual Report refer to QuidelOrtho Corporation (“QuidelOrtho”) and its subsidiaries. References to “fiscal year ended 2025,” “fiscal year ended 2024” and “fiscal year ended 2023” in this Annual Report refer to the Company’s fiscal years ended December 28, 2025, December 29, 2024 and December 31, 2023, respectively. Refer to the Summary of Abbreviated Terms at the end of this Annual Report for definitions of terms used throughout this Annual Report. Our vision is to advance diagnostics to power a healthier future. With our expertise in immunoassay and molecular testing, clinical chemistry and transfusion medicine, we aim to support clarity for clinicians and patients to help create better health outcomes. Our global infrastructure and commercial reach support our customers across more than 140 countries and territories with quality diagnostics, a broad test portfolio and market-leading service.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.7B | 2.7B | 2.8B | 3.0B | 1.7B | 1.7B |
| Net Income | -1.1B | -1.1B | -2.1B | -10M | 704M | 810M |
| EPS | $-16.69 | $-16.69 | $-30.54 | $-0.15 | $16.43 | $18.60 |
| Free Cash Flow | -83M | -83M | -112M | 71M | 513M | 565M |
| ROIC | -16.5% | -23.8% | -40.5% | 3.2% | 72.9% | - |
| Gross Margin | - | 46.7% | 46.2% | 49.9% | 75.3% | 81.6% |
| Debt/Equity | 1.47 | 1.48 | 0.90 | 0.55 | 0.00 | - |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -919M | -919M | -2.0B | 139M | 906M | 1.1B |
| Operating Margin | -33.7% | -33.7% | -70.5% | 4.6% | 53.3% | 63.8% |
| ROE | -58.9% | -46.1% | -51.4% | -0.3% | 43.2% | - |
| Shares Outstanding | 68M | 68M | 67M | 67M | 43M | 44M |
| Metric | ||||||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 1.7B | 1.7B | 3.0B | 2.8B | 2.7B | 2.7B |
| Gross Margin | 81.6% | 75.3% | 49.9% | 46.2% | 46.7% | N/A |
| R&D | 84M | 96M | 245M | 219M | 186M | 186M |
| SG&A | 181M | 240M | 763M | 767M | 746M | 746M |
| EBIT | 1.1B | 906M | 139M | -2.0B | -919M | -919M |
| Op. Margin | 63.8% | 53.3% | 4.6% | -70.5% | -33.7% | -33.7% |
| Net Income | 810M | 704M | -10M | -2.1B | -1.1B | -1.1B |
| Net Margin | 48.8% | 41.5% | -0.3% | -73.7% | -41.5% | -41.5% |
| Non-Recurring | 0 | 0 | 0 | 1.8B | 701M | 701M |
| Returns on Capital | ||||||
| ROIC | N/A | 72.9% | 3.2% | -40.5% | -23.8% | -16.5% |
| ROE | N/A | 43.2% | -0.3% | -51.4% | -46.1% | -58.9% |
| ROA | N/A | 57.3% | -0.2% | -27.4% | -18.6% | -19.6% |
| Cash Flow | ||||||
| Op. Cash Flow | 630M | 806M | 280M | 83M | 105M | 105M |
| Free Cash Flow | 565M | 513M | 71M | -112M | -83M | -83M |
| Owner Earnings | 560M | 728M | -229M | -413M | -383M | -383M |
| CapEx | 65M | 293M | 209M | 195M | 188M | 188M |
| Maint. CapEx | 49M | 53M | 457M | 453M | 442M | 442M |
| Growth CapEx | 16M | 240M | 0 | 0 | 0 | 0 |
| D&A | 49M | 53M | 457M | 453M | 442M | 442M |
| CapEx/OCF | N/A | 36.3% | 15.9% | 235.1% | 178.9% | 178.9% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 44M | 104M | 7.2M | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 2.4% | 1.5% | N/A | N/A | 0.0% |
| Stock-Based Comp | 21M | 25M | 52M | 42M | 46M | 46M |
| Debt Repayment | 0 | 0 | 228M | 143M | 2.3B | 2.3B |
| Balance Sheet | ||||||
| Net Debt | N/A | -828M | 2.6B | 2.6B | 2.7B | 2.5B |
| Cash & Equiv. | 490M | 803M | 119M | 98M | 170M | 340M |
| Long-Term Debt | N/A | 700K | 2.4B | 2.1B | 2.5B | 2.5B |
| Debt/Equity | N/A | 0.00 | 0.55 | 0.90 | 1.48 | 1.47 |
| Interest Coverage | 124.7 | 156.2 | 0.9 | -12.0 | -5.2 | -5.2 |
| Equity | N/A | 1.9B | 5.0B | 3.0B | 1.9B | 1.9B |
| Total Assets | N/A | 2.4B | 8.6B | 6.4B | 5.8B | 5.8B |
| Total Liabilities | 16M | 501M | 3.6B | 3.4B | 3.8B | 3.8B |
| Intangibles | N/A | 99M | 2.9B | 2.7B | 2.6B | 2.6B |
| Retained Earnings | N/A | 1.6B | 2.2B | 136M | -996M | -996M |
| Working Capital | N/A | 1.1B | 477M | 220M | 481M | 481M |
| Current Assets | N/A | 1.4B | 1.3B | 1.2B | 1.4B | 1.4B |
| Current Liabilities | N/A | 324M | 834M | 999M | 966M | 966M |
| Per Share Data | ||||||
| EPS | 18.60 | 16.43 | -0.15 | -30.54 | -16.69 | -16.69 |
| Owner EPS | 12.85 | 16.98 | -3.40 | -6.14 | -5.64 | -5.62 |
| Book Value | N/A | 45.02 | 74.35 | 44.42 | 28.32 | 28.21 |
| Cash Flow/Share | 14.45 | 18.80 | 4.16 | 1.24 | 1.55 | -10.13 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 43.6M | 42.9M | 67.3M | 67.2M | 67.8M | 68.1M |
| Valuation | ||||||
| P/E Ratio | N/A | 6.2 | 9.0 | N/A | N/A | -1.0 |
| P/FCF | N/A | 8.5 | 82.0 | N/A | N/A | N/A |
| EV/EBIT | N/A | 6.8 | 8.7 | N/A | N/A | N/A |
| Price/Book | N/A | 2.3 | 1.0 | 1.6 | 1.6 | 0.6 |
| Price/Sales | N/A | 3.5 | 1.6 | 1.9 | 1.1 | 0.4 |
| FCF Yield | N/A | 11.8% | 1.4% | -2.4% | -2.7% | -7.6% |
| Market Cap | 0 | 4.4B | 5.0B | 4.7B | 3.1B | 1.1B |
| Avg. Price | 0.00 | 137.10 | 93.50 | 79.41 | 43.03 | 16.05 |
| Year-End Price | 0.00 | 101.74 | 86.31 | 70.36 | 45.71 | 16.05 |
QuidelOrtho Corp passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 2.9% with a gross margin of 59.9%. At current prices, the estimated annualized return to fair value is -31.8%.
QuidelOrtho Corp (QDEL) has a debt-to-equity ratio of 1.48. This indicates moderate leverage.
QuidelOrtho Corp (QDEL) reported earnings per share (EPS) of $-16.69 in its most recent fiscal year.
QuidelOrtho Corp (QDEL) has a return on equity (ROE) of -46.1%. A negative ROE may indicate losses or negative equity.
QuidelOrtho Corp (QDEL) has a 5-year average gross margin of 59.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for QuidelOrtho Corp (QDEL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
QuidelOrtho Corp (QDEL) has a book value per share of $28.32, based on its most recent annual SEC filing.
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