QuidelOrtho (QDEL)
Market Price (4/6/2026): $17.19 | Market Cap: $1.2 BilSector: Health Care | Industry: Health Care Supplies
QuidelOrtho (QDEL)
Market Price (4/6/2026): $17.19Market Cap: $1.2 BilSector: Health CareIndustry: Health Care Supplies
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -42% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Advanced Diagnostics, Show more. | Weak multi-year price returns2Y Excs Rtn is -89%, 3Y Excs Rtn is -146% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 227% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.8% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.0% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -100% Key risksQDEL key risks include [1] significant revenue pressure from declining COVID-19 testing demand and product development failures, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -42% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Advanced Diagnostics, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -89%, 3Y Excs Rtn is -146% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 227% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.8% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.0% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -100% |
| Key risksQDEL key risks include [1] significant revenue pressure from declining COVID-19 testing demand and product development failures, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Negative Analyst Sentiment and Downgrades.
Multiple analyst firms issued negative reports or reiterated "sell" ratings for QuidelOrtho shares since late 2025 and into early 2026. Zacks Research downgraded the stock from a "hold" to a "strong sell" on February 17, 2026, and Weiss Ratings maintained a "sell (e+)" rating on January 22, 2026. While some firms like Citigroup and UBS Group set price targets around $30.00, the overall consensus rating from analysts is "Reduce" with an average price target of $31.50, reflecting tempered expectations despite the current trading price being significantly lower.
2. Persistent Unprofitability and Negative Margins.
Despite reporting fourth-quarter 2025 earnings per share of $0.46, beating analyst estimates of $0.43, and revenue of $723.60 million, exceeding the $699.80 million consensus, QuidelOrtho continues to face profitability challenges. The company recorded a negative net margin of 41.46% and a negative price-to-earnings ratio. Additionally, QuidelOrtho's free cash flow margin for the trailing 12 months was negative 5.6% as of January 27, 2026, marking a 27.6 percentage point drop over the preceding five years.
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Stock Movement Drivers
Fundamental Drivers
The -39.6% change in QDEL stock from 12/31/2025 to 4/5/2026 was primarily driven by a -39.9% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.56 | 17.25 | -39.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,714 | 2,730 | 0.6% |
| P/S Multiple | 0.7 | 0.4 | -39.9% |
| Shares Outstanding (Mil) | 68 | 68 | -0.1% |
| Cumulative Contribution | -39.6% |
Market Drivers
12/31/2025 to 4/5/2026| Return | Correlation | |
|---|---|---|
| QDEL | -39.6% | |
| Market (SPY) | -5.4% | 42.6% |
| Sector (XLV) | -5.2% | 23.2% |
Fundamental Drivers
The -41.4% change in QDEL stock from 9/30/2025 to 4/5/2026 was primarily driven by a -40.8% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.45 | 17.25 | -41.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,742 | 2,730 | -0.4% |
| P/S Multiple | 0.7 | 0.4 | -40.8% |
| Shares Outstanding (Mil) | 68 | 68 | -0.6% |
| Cumulative Contribution | -41.4% |
Market Drivers
9/30/2025 to 4/5/2026| Return | Correlation | |
|---|---|---|
| QDEL | -41.4% | |
| Market (SPY) | -2.9% | 40.8% |
| Sector (XLV) | 5.9% | 35.0% |
Fundamental Drivers
The -50.7% change in QDEL stock from 3/31/2025 to 4/5/2026 was primarily driven by a -49.3% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.97 | 17.25 | -50.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,783 | 2,730 | -1.9% |
| P/S Multiple | 0.8 | 0.4 | -49.3% |
| Shares Outstanding (Mil) | 68 | 68 | -0.9% |
| Cumulative Contribution | -50.7% |
Market Drivers
3/31/2025 to 4/5/2026| Return | Correlation | |
|---|---|---|
| QDEL | -50.7% | |
| Market (SPY) | 16.3% | 43.8% |
| Sector (XLV) | 1.9% | 39.9% |
Fundamental Drivers
The -80.6% change in QDEL stock from 3/31/2023 to 4/5/2026 was primarily driven by a -76.2% change in the company's P/S Multiple.| (LTM values as of) | 3312023 | 4052026 | Change |
|---|---|---|---|
| Stock Price ($) | 89.09 | 17.25 | -80.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,266 | 2,730 | -16.4% |
| P/S Multiple | 1.8 | 0.4 | -76.2% |
| Shares Outstanding (Mil) | 66 | 68 | -2.5% |
| Cumulative Contribution | -80.6% |
Market Drivers
3/31/2023 to 4/5/2026| Return | Correlation | |
|---|---|---|
| QDEL | -80.6% | |
| Market (SPY) | 63.3% | 34.4% |
| Sector (XLV) | 18.7% | 35.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| QDEL Return | -25% | -37% | -14% | -40% | -36% | -42% | -91% |
| Peers Return | 26% | -11% | -2% | -0% | 3% | -9% | 3% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -4% | 75% |
Monthly Win Rates [3] | |||||||
| QDEL Win Rate | 50% | 42% | 50% | 58% | 42% | 25% | |
| Peers Win Rate | 65% | 45% | 52% | 47% | 55% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| QDEL Max Drawdown | -42% | -50% | -32% | -59% | -56% | -48% | |
| Peers Max Drawdown | -7% | -23% | -16% | -5% | -21% | -12% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ABT, DHR, TMO, BDX, HOLX. See QDEL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/2/2026 (YTD)
How Low Can It Go
| Event | QDEL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -77.1% | -25.4% |
| % Gain to Breakeven | 336.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.7% | -33.9% |
| % Gain to Breakeven | 98.7% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -42.1% | -19.8% |
| % Gain to Breakeven | 72.6% | 24.7% |
| Time to Breakeven | 380 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -62.0% | -56.8% |
| % Gain to Breakeven | 163.1% | 131.3% |
| Time to Breakeven | 1,390 days | 1,480 days |
Compare to ABT, DHR, TMO, BDX, HOLX
In The Past
QuidelOrtho's stock fell -77.1% during the 2022 Inflation Shock from a high on 2/1/2021. A -77.1% loss requires a 336.7% gain to breakeven.
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About QuidelOrtho (QDEL)
AI Analysis | Feedback
Here are 1-3 brief analogies for QuidelOrtho (QDEL):
- Like Abbott Laboratories for rapid and molecular diagnostic tests.
- The company behind common quick tests (like for flu or strep), but with a wide portfolio of advanced diagnostic solutions for numerous diseases in clinics and labs.
AI Analysis | Feedback
- Sofia and Sofia 2: Fluorescent immunoassay systems used for diagnostic testing.
- QuickVue: Lateral flow immunoassay products for rapid diagnostic tests.
- InflammaDry and AdenoPlus: Point-of-care products designed to detect infectious and inflammatory eye conditions.
- Triage MeterPro: A portable testing platform used to enhance health outcomes and detect certain drugs of abuse.
- Triage BNP Test: A diagnostic test utilized on Beckman Coulter lab analyzers.
- Triage TOX Drug Screen: Provides results for the presence of drugs or their major metabolites in urine.
- Cell-Based Products and Lab Supplies: Includes traditional cell lines, specimen collection devices, media, controls, tubes, shell vials, and multi-well plates for virus culture and testing.
- Biomarkers: Clinical and research products used for assessing osteoporosis and evaluating bone resorption/formation.
- ELISAs and Reagents: Enzyme-linked immunosorbent assays and related reagents for detecting activation products.
- Lyra Molecular Real-Time PCR Assays: Molecular assays using polymerase chain reaction technology.
- Solana: An amplification and detection system for molecular diagnostics.
- Savanna: An automated in vitro molecular diagnostic platform.
- Virena: A wireless cellular data management and surveillance system.
AI Analysis | Feedback
QuidelOrtho (QDEL) sells primarily to other companies and institutions, not directly to individuals. Based on the provided background information, its major customers are the types of healthcare facilities and organizations that utilize its diagnostic testing solutions and products.
The major customer categories include:
- Hospitals
- Clinical Laboratories and Reference Laboratories
- Physician Offices, Retail Clinics, and Urgent Care Clinics
- Universities (for research and academic purposes)
- Pharmacies and Wellness Screening Centers
The background description does not list specific names of public or private customer companies within these categories.
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Brian J. Blaser, President and Chief Executive Officer
Mr. Blaser brings over 25 years of senior leadership experience in the in vitro diagnostics industry. He joined QuidelOrtho as President and CEO, effective May 6, 2024. Prior to joining QuidelOrtho, he spent 15 years at Abbott Laboratories, where he oversaw the company's global diagnostics business, encompassing core laboratory, point-of-care, rapid, and molecular diagnostics. Mr. Blaser also held leadership roles across operations and finance at Abbott, and held previous leadership positions at the Ortho Clinical Diagnostics division of Johnson & Johnson, Eastman Kodak, and General Motors. He currently serves on the board of directors of Quanterix and Meridian Bioscience Inc.
Joseph M. Busky, Chief Financial Officer
Mr. Busky has over 30 years of experience in corporate and operational finance, working in both publicly owned and private equity-owned settings. Before joining QuidelOrtho, he served as CFO of Ortho Clinical Diagnostics (2020–2022), which was backed by The Carlyle Group. He also served as CFO of Vyaire Medical (2018–2020), CEO of Qualtek (2017–2018), and CFO of FDH Velocitel (2015–2017). Additionally, Mr. Busky served seven years as Chief Financial Officer of InnerWorkings, Inc., a global marketing services firm, and held corporate and divisional finance roles for 11 years at Siemens Medical Solutions Diagnostics/Dade Behring Holdings, Inc., Bayer Diagnostics, and Diagnostic Products Corporation, including serving as Chief Accounting Officer at Dade Behring.
Phil McLellan, Chief Operations Officer
Mr. McLellan assumed the role of Chief Operations Officer in November 2024, having previously served as QuidelOrtho's Senior Vice President of Operations since November 2020. His background includes an 11-year tenure leading operations teams across various life sciences divisions at Thermo Fisher Scientific and 13 years in global automotive manufacturing roles at Toyota Motor Manufacturing.
Jonathan Siegrist, PhD, Executive Vice President of R&D and Chief Technology Officer
Dr. Siegrist is responsible for QuidelOrtho's global R&D strategy, driving innovation and advancing next-generation diagnostic solutions. He brings over 15 years of leadership experience in the biotechnology and diagnostics industries, with a focus on molecular diagnostics, microfluidic platforms, and biomedical engineering. Prior to joining QuidelOrtho, he served as Chief Technology Officer and Head of Assay Research and Development at Cepheid.
Erich Wolff, Executive Vice President, Strategy & Corporate Development
Mr. Wolff has over 20 years of leadership experience in the healthcare, MedTech, and diagnostics sectors, with deep expertise in mergers and acquisitions, portfolio optimization, and corporate transformation. Before joining QuidelOrtho, he served as Buyouts Lead for MedTech and Life Sciences Tools & Diagnostics at Partners Group, a global private equity firm. He has also held senior executive roles at BD and Medtronic.
AI Analysis | Feedback
The key risks to QuidelOrtho's business are primarily centered around declining profitability, a significant debt load, and challenges within a highly competitive and regulated industry.
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Declining Revenues and Profitability Pressures, especially from reduced COVID-19 testing demand: QuidelOrtho has experienced declining revenues and falling free cash flow margins, impacting its overall profitability. A notable factor contributing to this is the significant decrease in revenue from COVID-19 related testing. Respiratory products constituted approximately 15% of total revenues in fiscal year 2025, and fluctuations in demand for these products, particularly the decline in COVID-19 testing, have significantly affected the company's financial performance. The company has reported negative top-line growth and is currently unprofitable on both GAAP and free cash-flow bases.
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High Debt Load and Financial Distress Risk: The company carries a substantial net debt, reported at approximately $2.5 billion as of December 28, 2025, or $2.76 billion as of February 5, 2026. This translates to a high net debt to adjusted EBITDA ratio of around 4.2x to 4.4x, which is a significant concern for investors and analysts, signaling an elevated risk of financial distress. The company's inability to consistently generate positive free cash flow further intensifies this risk.
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Intense Industry Competition and Regulatory/Product Launch Challenges: QuidelOrtho operates in a highly competitive diagnostics market against larger global companies with superior financial and marketing resources. Maintaining a competitive edge requires continuous investment and agility due to the rapid pace of innovation. Additionally, the company faces regulatory hurdles, including the need to secure and maintain necessary clearances and approvals for its products. A notable setback was the withdrawal of the FDA 510(k) submission for the Savanna RVP4 Test, which was anticipated to be a crucial driver for the Savanna platform, leading to a drop in stock price and a securities class action lawsuit.
AI Analysis | Feedback
nullAI Analysis | Feedback
Here are the addressable market sizes for QuidelOrtho's main products and services:
-
Infectious Disease Diagnostics Market:
- The global infectious disease diagnostics market size was valued at USD 35.39 billion in 2025 and is expected to reach approximately USD 71.06 billion by 2035, growing at a CAGR of 7.22% from 2026 to 2035. North America held the highest market share of 46.15% in 2025.
- The global infectious disease molecular diagnostics market size was estimated at USD 16.24 billion in 2024 and is projected to reach USD 20.15 billion by 2030.
- The global infectious disease in vitro diagnostics market size was evaluated at USD 24.35 billion in 2024 and is anticipated to increase from USD 24.98 billion in 2025 to reach around USD 31.48 billion by 2034.
-
Point-of-Care (POC) Diagnostics Market:
- The global point of care diagnostics market size was valued at USD 32.87 billion in 2025 and is projected to grow to USD 60.36 billion by 2034. North America dominated this market with a 35.6% share in 2025.
- Another source states the global point of care (PoC) diagnostics market size was valued at USD 55.98 billion in 2024. In 2024, infectious diseases held a 53.5% revenue share within the PoC diagnostics market.
-
Molecular Diagnostics Market:
- The global molecular diagnostics market size was estimated at USD 18.85 billion in 2025 and is projected to reach USD 25.59 billion by 2033. North America held the largest share of 44.06% of the global market in 2025.
- Another report indicates the global molecular diagnostics market size was valued at USD 45.11 billion in 2025 and is predicted to increase to approximately USD 66.34 billion by 2035.
-
Cardiac Biomarkers Market:
- The global cardiac biomarkers market size was estimated at USD 20.81 billion in 2025 and is expected to reach USD 49.31 billion by 2033. North America dominated this market and held a 43.32% revenue share in 2025.
- Another estimate places the global cardiac biomarkers market size at USD 20.9 billion in 2025 and projected to reach USD 60.29 billion by 2034.
-
Immunoassay Market:
- The global immunoassay market size was valued at USD 37.19 billion in 2025. It is projected to grow from USD 39.48 billion in 2026 to USD 63.72 billion by 2034. North America holds approximately 36% of the global immunoassay market share.
- Another source states the global immunoassay market size was estimated at USD 26.83 billion in 2024 and is projected to reach USD 35.10 billion by 2030. The infectious disease application in the immunoassay industry led the market with a 66.10% share in 2024.
-
Bone Health Diagnostics Market (Bone Densitometers/Bone Mineral Testing):
- The global bone densitometers market size was valued at USD 253.0 million in 2024 and is projected to grow to USD 374.4 million by 2034. North America dominated the market with a 45.7% share in 2024. The osteoporosis & osteoponia diagnosis segment dominated the global market in 2025 with an 81.9% share.
- The global bone mineral testing market was valued at USD 325.76 million and is projected to reach USD 520.37 million by the end of 2030.
AI Analysis | Feedback
QuidelOrtho (QDEL) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Sustained Growth in the Labs Business: The company anticipates continued expansion in its Labs business, which demonstrated strong growth of 7% in the fourth quarter of 2025, driven by clinical chemistry. Management projects mid-single-digit growth for the Labs business in 2026.
- Expansion of Molecular Diagnostics and New Product Launches: A strategic focus on research and development (R&D) pipeline development, including multiple FDA clearances and anticipated new product launches in 2026, is a significant driver. This includes the planned launch of the VITROS 450 system in ex-U.S. (OUS) markets in the first half of 2026 and the expansion of its immunoassay platform with 25 new assays. Additionally, the acquisition of Lex Diagnostics is expected to lead to a commercial launch by 2026-2027.
- Growth in Point-of-Care and Immunohematology: The Point-of-Care business achieved a 7% growth in the fourth quarter of 2025, with Triage products showing a 16% increase. The immunohematology business also advanced by 3% in the same period, indicating ongoing demand in these segments.
- International Market Diversification: QuidelOrtho is seeing strong regional performance, with Latin America delivering 18% growth, EMEA 4%, and JPAC 6% in Q4 2025. This market diversification contributes to overall revenue growth, with CEO Brian Blaser emphasizing its importance.
- Strategic Supply Agreements: In February 2026, QuidelOrtho entered a strategic supply agreement aimed at expanding its global immunoassay portfolio, which is expected to contribute to future revenue generation.
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Share Repurchases
- QuidelOrtho's board of directors authorized the repurchase of up to $300 million of its common stock over a two-year period, as announced in August 2022.
- The company completed $7 million in share repurchases during the full-year 2023.
Share Issuance
- As part of the May 2022 merger that formed QuidelOrtho, Ortho Clinical Diagnostics shareholders received 0.1055 shares of QuidelOrtho common stock for each Ortho ordinary share, while Quidel stockholders received one share of the combined company for each Quidel common share.
- QuidelOrtho issued common stock under equity compensation plans, with approximately $0.8 million during the first three months of 2024 and approximately $4.1 million during the second three months of 2024.
Outbound Investments
- QuidelOrtho intends to acquire full ownership of LEX Diagnostics for approximately $100 million after U.S. FDA clearance.
- QuidelOrtho initially invested in LEX Diagnostics in December 2023, securing an exclusive option to acquire the company.
Latest Trefis Analyses
Trade Ideas
Select ideas related to QDEL.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | PGNY | Progyny | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03272026 | CNC | Centene | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -0.6% |
| 03272026 | OSCR | Oscar Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.0% | 3.0% | -2.6% |
| 03202026 | WAT | Waters | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.4% | -0.4% | -3.3% |
| 03202026 | GILD | Gilead Sciences | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 1.6% | 1.6% | -2.2% |
| 02282026 | QDEL | QuidelOrtho | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -27.7% | -27.7% | -35.0% |
| 09302022 | QDEL | QuidelOrtho | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 24.6% | 2.2% | -5.6% |
| 01312022 | QDEL | QuidelOrtho | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -1.4% | -17.2% | -34.7% |
| 12312020 | QDEL | QuidelOrtho | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -28.4% | -24.9% | -42.1% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 128.69 |
| Mkt Cap | 89.7 |
| Rev LTM | 23,246 |
| Op Inc LTM | 3,897 |
| FCF LTM | 3,946 |
| FCF 3Y Avg | 4,092 |
| CFO LTM | 4,905 |
| CFO 3Y Avg | 5,124 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.4% |
| Rev Chg 3Y Avg | -1.3% |
| Rev Chg Q | 3.5% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Mgn LTM | 18.2% |
| Op Mgn 3Y Avg | 17.3% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 19.6% |
| CFO/Rev 3Y Avg | 19.6% |
| FCF/Rev LTM | 15.4% |
| FCF/Rev 3Y Avg | 15.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 89.7 |
| P/S | 4.1 |
| P/EBIT | 20.5 |
| P/E | 27.4 |
| P/CFO | 17.1 |
| Total Yield | 3.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.1% |
| 3M Rtn | -16.8% |
| 6M Rtn | -10.1% |
| 12M Rtn | 1.4% |
| 3Y Rtn | -12.6% |
| 1M Excs Rtn | -3.6% |
| 3M Excs Rtn | -11.9% |
| 6M Excs Rtn | -6.7% |
| 12M Excs Rtn | -24.3% |
| 3Y Excs Rtn | -76.7% |
Comparison Analyses
Price Behavior
| Market Price | $17.25 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 03/03/1992 | |
| Distance from 52W High | -53.9% | |
| 50 Days | 200 Days | |
| DMA Price | $22.17 | $26.35 |
| DMA Trend | down | down |
| Distance from DMA | -22.2% | -34.5% |
| 3M | 1YR | |
| Volatility | 76.9% | 79.1% |
| Downside Capture | 1.91 | 1.87 |
| Upside Capture | 119.61 | 175.89 |
| Correlation (SPY) | 41.5% | 42.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.02 | 3.19 | 2.52 | 2.43 | 1.84 | 1.37 |
| Up Beta | 0.90 | 1.24 | 1.01 | 1.04 | 1.20 | 1.11 |
| Down Beta | 1.12 | 3.58 | 2.94 | 2.39 | 1.97 | 1.51 |
| Up Capture | 269% | 223% | 125% | 244% | 266% | 79% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 6 | 15 | 26 | 58 | 111 | 342 |
| Down Capture | 385% | 334% | 284% | 229% | 167% | 111% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 16 | 27 | 36 | 65 | 137 | 400 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QDEL | |
|---|---|---|---|---|
| QDEL | -47.9% | 80.0% | -0.49 | - |
| Sector ETF (XLV) | 3.8% | 17.6% | 0.06 | 39.7% |
| Equity (SPY) | 16.1% | 19.0% | 0.67 | 43.7% |
| Gold (GLD) | 50.5% | 28.0% | 1.46 | 2.1% |
| Commodities (DBC) | 16.2% | 17.7% | 0.77 | 11.9% |
| Real Estate (VNQ) | 3.6% | 16.5% | 0.04 | 40.1% |
| Bitcoin (BTCUSD) | -21.5% | 44.0% | -0.42 | 23.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QDEL | |
|---|---|---|---|---|
| QDEL | -32.4% | 56.9% | -0.46 | - |
| Sector ETF (XLV) | 6.3% | 14.5% | 0.25 | 34.1% |
| Equity (SPY) | 11.6% | 17.0% | 0.53 | 30.1% |
| Gold (GLD) | 21.7% | 17.8% | 1.00 | 4.3% |
| Commodities (DBC) | 11.6% | 18.8% | 0.51 | 2.3% |
| Real Estate (VNQ) | 3.3% | 18.8% | 0.08 | 28.0% |
| Bitcoin (BTCUSD) | 3.9% | 56.5% | 0.29 | 11.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with QDEL | |
|---|---|---|---|---|
| QDEL | 0.6% | 55.8% | 0.24 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 32.8% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 28.0% |
| Gold (GLD) | 14.0% | 15.9% | 0.73 | 4.4% |
| Commodities (DBC) | 8.4% | 17.6% | 0.40 | 3.3% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | 19.4% |
| Bitcoin (BTCUSD) | 66.2% | 66.8% | 1.06 | 6.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/11/2026 | -17.6% | -18.0% | -40.6% |
| 11/5/2025 | -22.3% | -17.5% | -0.8% |
| 8/5/2025 | -1.0% | 6.4% | 17.4% |
| 5/7/2025 | 41.0% | 29.8% | 14.2% |
| 2/12/2025 | 4.3% | 2.7% | -9.6% |
| 11/7/2024 | 12.6% | 0.3% | 4.3% |
| 7/31/2024 | 6.9% | 0.8% | 10.9% |
| 5/8/2024 | 2.2% | 5.3% | -2.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 7 | 6 |
| # Negative | 8 | 8 | 9 |
| Median Positive | 5.7% | 2.9% | 12.6% |
| Median Negative | -6.9% | -9.7% | -8.0% |
| Max Positive | 41.0% | 29.8% | 17.4% |
| Max Negative | -32.2% | -25.9% | -40.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 2.70 Bil | 2.80 Bil | 2.90 Bil | 3.3% | Raised | Guidance: 2.71 Bil for 2025 | |
| 2026 Adjusted EBITDA | 630.00 Mil | 650.00 Mil | 670.00 Mil | 9.2% | Raised | Guidance: 595.00 Mil for 2025 | |
| 2026 Adjusted EBITDA margin | 23.3% | 5.9% | 1.3% | Raised | Guidance: 22.0% for 2025 | ||
| 2026 Adjusted diluted EPS | 2 | 2.21 | 2.42 | 6.5% | Raised | Guidance: 2.08 for 2025 | |
| 2026 Free cash flow | 120.00 Mil | 140.00 Mil | 160.00 Mil | ||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rhoads, Ann D | Direct | Buy | 12102025 | 28.27 | 750 | 21,206 | 424,719 | Form | |
| 2 | Wilkins, Joseph D Jr | Direct | Buy | 12012025 | 27.95 | 370 | 10,343 | 331,994 | Form | |
| 3 | Widder, Kenneth J | Direct | Sell | 11252025 | 27.81 | 4,026 | 111,965 | 1,030,689 | Form | |
| 4 | Busky, Joseph M | Chief Financial Officer | Trust | Buy | 11252025 | 26.06 | 4,770 | 124,305 | 180,334 | Form |
| 5 | Polan, Mary Lake Ph D | Direct | Buy | 11242025 | 22.43 | 1,000 | 22,430 | 283,515 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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