Tearsheet
Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. QDEL Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

QuidelOrtho (QDEL)

Market Price (9/17/2025): $30.11 | Market Cap: $2.0 Bil
Sector: Health Care | Industry: Health Care Supplies

QuidelOrtho (QDEL)

Market Price (9/17/2025): $30.11
Market Cap: $2.0 Bil
Sector: Health Care
Industry: Health Care Supplies

Investment Highlights

0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%		 Weak multi-year price returns
2Y Excs Rtn is -108%, 3Y Excs Rtn is -128%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 132%
1  Meaningful short interest
Short 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 11%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3%, Rev Chg QQuarterly Revenue Change % is -3.6%
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -28%
0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%
1 Weak multi-year price returns
2Y Excs Rtn is -108%, 3Y Excs Rtn is -128%
2 Meaningful short interest
Short 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 11%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 132%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3%, Rev Chg QQuarterly Revenue Change % is -3.6%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -28%

Market Valuation

 9/17/252024202320222021
Share Price CYE$30.11$44.55$73.70$85.67$134.99
Market Cap CYE ($ Bil)2.03.04.95.75.8
Total Debt ($ Bil)2.82.72.62.80.1
Total Cash ($ Bil)0.20.10.20.30.8
Enterprise Value ($ Bil)4.75.77.58.55.9
Valuation Ratios     
P/S TTM0.71.11.61.53.4
P/EBIT TTM-8.9-1.532.96.06.3
P/E TTM-4.4-1.5-487.48.98.1
Sector Ratios     
P/S TTM (Sector)3.73.64.14.57.3
P/EBIT TTM (Sector)-1.6-1.3-1.4-1.3-2.9
P/E TTM (Sector)-1.8-1.5-1.5-1.3-2.9
 9/17/2520242023
Share Price CYE$30.11$44.55$73.70
Market Cap CYE ($ Bil)2.03.04.9
Total Debt ($ Bil)2.82.72.6
Total Cash ($ Bil)0.20.10.2
Enterprise Value ($ Bil)4.75.77.5
Valuation Ratios   
P/S TTM0.71.11.6
P/EBIT TTM-8.9-1.532.9
P/E TTM-4.4-1.5-487.4
Sector Ratios   
P/S TTM (Sector)3.73.64.1
P/EBIT TTM (Sector)-1.6-1.3-1.4
P/E TTM (Sector)-1.8-1.5-1.5

Market Cap Chart

Business Description

Quidel Corporation develops, manufactures, and markets diagnostic testing solutions for applications in infectious diseases, cardiology, thyroid, women's and general health, eye health, gastrointestinal diseases, and toxicology worldwide. It offers Sofia and Sofia 2 fluorescent immunoassay systems; QuickVue, a lateral flow immunoassay products; and InflammaDry and AdenoPlus, a POC products to detect infectious and inflammatory diseases and conditions of the eye. The company also provides Triage MeterPro, a portable testing platform that enables physicians to promote enhanced health outcomes, as well as the detection of certain drugs of abuse; Triage BNP test for use on Beckman Coulter lab analyzers; and Triage TOX drug screen, which provides results for the presence of drug and/or the major metabolites in urine. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
QDEL Return139%-25%-37%-14%-40%-34%-62%
Peers Return60%29%-29%21%-0%-16%47%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ABT, WST, COO, ALGN, MMSI. See QDEL Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Better Bets than QuidelOrtho (QDEL)

 QDELBetter Performance than QDEL
MetricValueIndustry (Health Care Supplies)
Rev Chg LTM-3.3%WST (2.9%), COO (6.4%), ALGN (0.6%), MMSI (8.2%), NVST (0.8%)
Rev Chg 3Y Avg0.3%WST (0.4%), COO (7.9%), MMSI (8.0%), LNTH (34.3%), ICUI (10.7%)
Op Mgn LTM4.2%WST (21.0%), COO (18.3%), ALGN (16.1%), MMSI (11.7%), NVST (7.1%)
CFO/Rev LTM7.3%WST (22.9%), COO (20.2%), ALGN (18.4%), MMSI (16.2%), NVST (11.4%)
FCF/Rev LTM0.5%WST (11.6%), COO (10.2%), ALGN (15.9%), MMSI (12.8%), NVST (10.1%)
Total Yield-23.3%WST (2.8%), COO (3.1%), ALGN (4.6%), MMSI (2.5%), NVST (1.5%)
 QDELBetter Performance than QDEL
MetricValueAll Other Sectors
Rev Chg LTM-3.3%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg0.3%NVDA (92.0%), MSFT (12.5%), AAPL (1.8%), GOOGL (10.2%), AMZN (11.3%)
Op Mgn LTM4.2%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), AMZN (11.4%)
CFO/Rev LTM7.3%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM0.5%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), AMZN (2.0%)
Total Yield-23.3%NVDA (2.1%), MSFT (3.3%), AAPL (3.2%), GOOGL (4.1%), AMZN (2.8%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Better Bet Than QDEL Stock: Pay Less Than QuidelOrtho To Get More From AVNS, HAE Actionable 
2Day 8 of Loss Streak for QuidelOrtho Stock with -20% Return (vs. -43% YTD) [7/21/2025]Notification 
3QDEL Up 11% In A Month. Do You Buy Or Wait?Return 
4QDEL Dip Buy Analysis  
5QuidelOrtho Earnings Notes  
6QuidelOrtho Market PriceMarket Price 
7QuidelOrtho During 2008 Recession vs. 2022 Inflation Shock: QDEL Stock Has 811% Upside If It Recovers To Pre-Inflation Shock Levels Actionable 
8QuidelOrtho Total Shareholder Return (TSR): -40.0% in 2024 and -31.0% 3-yr compounded annual returns (above peer average)  
9QuidelOrtho (QDEL) Operating Cash Flow ComparisonFinancials 
10QuidelOrtho (QDEL) Net Income ComparisonFinancials 
11ARTICLES  
12Better Bet Than QuidelOrtho Stock: Pay Less To Get More From HAE, AVNS August 21st, 2025
13QDEL Stock Down -20% after 8-Day Loss Streak July 22nd, 2025
14QDEL Dropped 16% In A Week. Bigger Declines Have Followed Similar Moves. July 19th, 2025
15Down 15% In A Month, Will QuidelOrtho Stock Rebound? August 9th, 2022
16Labcorp, Quidel: Omicron Brings Covid Testing Stocks Back In Focus December 20th, 2021
Title
0DASHBOARDS
1Better Bet Than QuidelOrtho Stock: Pay Less To Get More From HAE, AVNS
2QDEL Stock Down -20% after 8-Day Loss Streak
3QDEL Dropped 16% In A Week. Bigger Declines Have Followed Similar Moves.
4Down 15% In A Month, Will QuidelOrtho Stock Rebound?
5Labcorp, Quidel: Omicron Brings Covid Testing Stocks Back In Focus
6ARTICLES
7Better Bet Than QDEL Stock: Pay Less Than QuidelOrtho To Get More From AVNS, HAE 
8Day 8 of Loss Streak for QuidelOrtho Stock with -20% Return (vs. -43% YTD) [7/21/2025]
9QDEL Up 11% In A Month. Do You Buy Or Wait?
10QDEL Dip Buy Analysis
11QuidelOrtho Earnings Notes
12QuidelOrtho Market Price
13QuidelOrtho During 2008 Recession vs. 2022 Inflation Shock: QDEL Stock Has 811% Upside If It Recovers To Pre-Inflation Shock Levels 
14QuidelOrtho Total Shareholder Return (TSR): -40.0% in 2024 and -31.0% 3-yr compounded annual returns (above peer average)
15QuidelOrtho (QDEL) Operating Cash Flow Comparison
16QuidelOrtho (QDEL) Net Income Comparison

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11963.5%11963.5%
2GIBOGIBO9734.4% 
3CHSNChanson International7565.0%-99.3%
4LNZALanzaTech Global7287.5%-86.0%
5QMMMQMMM3031.7%6775.0%
6OESXOrion Energy Systems1497.9%22.9%
7CURXCuranex Pharmaceuticals1401.6%1401.6%
8ENTOEntero Therapeutics565.6%117.6%
9PTNMPitanium553.2% 
10WLDSWearable Devices449.5%-30.0%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-92.2%-95.0%
2STFSStar Fashion Culture-92.2%-97.8%
3ELPWElong Power-91.6%-76.7%
4NXTTNext Technology-89.6%-95.1%
5NAKAKindly MD-89.0% 
6BINIBollinger Innovations-88.9%-100.0%
7JEM707 Cayman-88.4%-98.2%
8YAASYouxin Technology-82.5%-98.3%
9NEONNeonode-82.0%-50.2%
10NVNOenVVeno Medical-81.5%-69.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for QuidelOrtho

Financials

QDELABTWSTCOOALGNMMSIMedian
NameQuidelOr.Abbott L.West Pha.Cooper C.Align Te.Merit Me. 
Mkt Price29.53132.76258.3565.16131.8282.69107.25
Mkt Cap2.0231.518.713.09.64.911.3
Rev LTM2,74243,1092,9604,0463,9651,3883,463
Op Inc LTM1147,515622741638162630
FCF LTM136,775344412632178378
FCF 3Y Avg-165,972366274549125320
CFO LTM2009,037677816731225704
CFO 3Y Avg1818,130712665706170685

Growth & Margins

QDELABTWSTCOOALGNMMSIMedian
NameQuidelOr.Abbott L.West Pha.Cooper C.Align Te.Merit Me. 
Rev Chg LTM-3.3%5.9%2.9%6.4%0.6%8.2%4.4%
Rev Chg 3Y Avg0.3%-1.5%0.4%7.9%-0.1%8.0%0.3%
Rev Chg Q-3.6%7.4%9.2%5.7%-1.6%9.8%6.6%
QoQ Delta Rev Chg LTM-0.8%1.8%2.2%1.4%-0.4%2.3%1.6%
Op Mgn LTM4.2%17.4%21.0%18.3%16.1%11.7%16.8%
Op Mgn 3Y Avg6.1%16.2%22.2%16.5%16.3%10.5%16.2%
QoQ Delta Op Mgn LTM1.0%0.6%0.5%-0.7%-0.3%0.2%0.4%
CFO/Rev LTM7.3%21.0%22.9%20.2%18.4%16.2%19.3%
CFO/Rev 3Y Avg6.1%19.6%24.6%17.5%18.3%13.1%17.9%
FCF/Rev LTM0.5%15.7%11.6%10.2%15.9%12.8%12.2%
FCF/Rev 3Y Avg-0.7%14.4%12.6%7.2%14.2%9.5%11.1%

Valuation

QDELABTWSTCOOALGNMMSIMedian
NameQuidelOr.Abbott L.West Pha.Cooper C.Align Te.Merit Me. 
Mkt Cap2.0231.518.713.09.64.911.3
P/S0.75.46.33.22.43.53.4
P/EBIT-8.727.531.218.015.026.622.3
P/E-4.316.638.231.821.939.826.9
P/CFO10.025.627.615.913.121.618.8
Total Yield-23.3%7.8%2.8%3.1%4.6%2.5%3.0%
Dividend Yield0.0%1.7%0.2%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-1.7%3.0%1.7%1.7%3.0%2.4%2.1%
D/E1.40.10.00.20.00.20.1
Net D/E1.30.0-0.00.2-0.10.10.1

Returns

QDELABTWSTCOOALGNMMSIMedian
NameQuidelOr.Abbott L.West Pha.Cooper C.Align Te.Merit Me. 
1M Rtn13.9%0.8%4.9%-11.1%-7.4%-3.3%-1.3%
3M Rtn5.4%0.8%18.6%-5.2%-24.7%-11.0%-2.2%
6M Rtn-15.4%6.1%10.4%-18.6%-19.9%-17.3%-16.3%
12M Rtn-35.8%15.0%-12.7%-41.4%-47.2%-17.0%-26.4%
3Y Rtn-63.9%35.4%-2.9%-10.6%-47.1%42.6%-6.7%
1M Excs Rtn11.4%-1.7%2.5%-13.5%-9.9%-5.7%-3.7%
3M Excs Rtn-8.4%-10.0%5.8%-16.1%-37.3%-21.3%-13.0%
6M Excs Rtn-34.8%-11.5%-4.6%-34.9%-38.7%-34.3%-34.6%
12M Excs Rtn-52.2%-2.2%-31.0%-58.2%-60.5%-31.9%-42.0%
3Y Excs Rtn-128.1%-32.7%-79.4%-79.6%-112.3%-27.9%-79.5%

Comparison Analyses

Financials

$ Mil | FY: 12/292025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/29/20253/30/202512/29/20249/29/20246/30/20243/31/202412/31/202310/1/20237/2/20234/2/20231/1/202310/2/2022
Filing Date8/6/20255/8/20252/27/202511/8/20248/1/20245/9/20242/29/202411/2/20238/9/20235/4/20232/23/202311/4/2022
Key Financials Quarterly            
Total Revenue614693708727637711743744665846866784
Ebitda-76141131341-1,63815214495216195164
Operating Income-2491552-3087455-212911683
Net Income-255-13-178-20-148-1,7067-13-53493019
EPS-3.77-0.19-2.28-0.30-2.20-25.500.10-0.19-0.800.730.460.29
Key Financials TTM            
Total Revenue TTM2,7422,7652,7832,8182,8352,8632,9983,1223,1623,1103,2663,036
Ebitda TTM211288-1,490-1,350-1,340-1,2466076506696741,0941,290
Operating Income TTM11486461051081362562983264889821,251
Net Income TTM-466-359-2,052-1,867-1,859-1,765-101345118549810
Growth Rates Quarterly            
Total Revenue Growth-3.6%-2.6%-4.7%-2.3%-4.2%-16.0%-14.3%-5.1%8.4%-15.6%36.0%53.7%
EBITDA Growth-7740.0%108.6%-91.4%-7.2%-98.9%-859.6%-21.8%-12.1%-4.3%-66.1%-50.1%-44.3%
Operating Income Growth93.9%472.9%-79.6%-5.8%-1250.0%-93.4%-35.7%-33.9%-101.4%-79.3%-69.9%-70.5%
Net Income Growth-72.9%99.3%-2648.6%-56.7%-177.6%-3595.9%-76.9%-166.1%-375.6%-89.8%-89.6%-91.1%
Margins Quarterly            
EBITDA Margin-12.4%20.3%1.9%18.4%0.2%-230.3%20.5%19.4%14.3%25.5%22.5%20.9%
Operating Income Margin-0.3%7.0%2.1%7.1%-4.7%1.2%10.0%7.4%-0.3%15.3%13.4%10.6%
Net Income Margin-41.6%-1.8%-25.2%-2.7%-23.2%-239.9%0.9%-1.7%-8.0%5.8%3.5%2.4%
Cash & Debt            
Total Cash1521279814410778167193224397345264
Total Debt2,7932,6942,6812,7562,7712,6132,6142,6702,7232,7962,8492,875
Net Debt / (Cash)2,6412,5672,5832,6122,6642,5342,4472,4772,5002,4002,5042,611
Cash Flows Quarterly            
FCF from Operations-476664118-98-18042-31189169-10
Cash Flows TTM            
FCF from Operations TTM2001498310023912803693185738851,037
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-07-0-0-0-074
Return on Invested Capital (ROIC) Quarterly            
ROIC-0.1%3.6%1.1%2.6%-2.0%0.6%5.7%3.4%-0.1%8.2%6.5%3.9%
Return on Invested Capital (ROIC) TTM            
ROIC TTM2.0%1.6%0.8%1.8%1.8%2.4%1.7%3.5%4.1%6.4%14.0%18.1%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Labs1,42582045  
Point of Care8921,9551,453  
Immunohematology512297   
Donor Screening13697   
Molecular Diagnostics329720022322
Transfusion Medicine  0  
Cardiometabolic Immunoassay   243267
Rapid Immunoassay   1,145192
Specialized Diagnostic Solutions   5155
Total2,9983,2661,6991,662535


Price Behavior

QDEL Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta2.482.932.461.581.471.09
Up Beta5.505.674.391.211.211.18
Down Beta0.57-0.431.681.821.661.06
Up Capture331%186%117%155%142%41%
Bmk +ve Days10223571142415
Stock +ve Days9152653106354
Down Capture-12%323%261%170%139%105%
Bmk -ve Days11192754106334
Stock -ve Days12263672140391

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity7,635,825
Short Interest: % Change Since 81520254.9%
Average Daily Volume1,203,262
Days-to-Cover Short Interest6.35
Basic Shares Quantity67,700,000
Short % of Basic Shares11.3%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/2025-1.0%6.4%17.4%
5/7/202541.0%29.8%14.2%
2/12/20254.3%2.7%-9.6%
11/7/202412.6%0.3%4.3%
7/31/20246.9%0.8%10.9%
5/8/20242.2%5.3%-2.4%
2/13/2024-32.2%-25.9%-28.9%
11/1/20233.7%-0.3%14.4%
...
SUMMARY STATS   
# Positive776
# Negative667
Median Positive5.7%2.9%12.6%
Median Negative-5.8%-7.8%-8.0%
Max Positive41.0%29.8%17.4%
Max Negative-32.2%-25.9%-28.9%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025806202510-Q 6/29/2025
3312025508202510-Q 3/30/2025
12312024227202510-K 12/29/2024
93020241108202410-Q 9/29/2024
6302024801202410-Q 6/30/2024
3312024509202410-Q 3/31/2024
12312023229202410-K 12/31/2023
93020231102202310-Q 10/1/2023
6302023809202310-Q 7/2/2023
3312023504202310-Q 4/2/2023
12312022223202310-K 1/1/2023
93020221104202210-Q 10/2/2022
6302022805202210-Q 7/3/2022
3312022505202210-Q 3/31/2022
12312021218202210-K 12/31/2021
93020211105202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Blaser Brian J.President and CEO12132024Buy41.426,033249,878249,878Form
1Carlyle Group Inc.11212024Sell35.318,260,183291,700,102 Form

Industry Resources

External Quote Links


Prefer one of these to Trefis? Tell us why.