|HOLX Overview
HOLX

HOLOGIC INC

Healthcare • CIK: 0000859737

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Market Cap
$16.74B
P/E (TTM)
30.8x
Rev Growth (TTM)
+2.2%
Net Margin (TTM)
13.2%
FCF Yield (TTM)
6.2%
FCF Margin (TTM)
25.2%

LATEST EARNINGS

Q1 FY2026
29 days ago
View source
Revenue
$1.05B
+2.5%
Net Income
$179.10M
-10.9%
EPS
$0.79
-9.2%
Gross
56.0% -0.8%
Operating
22.6% +0.1%
Net
17.1% -2.6%
  • Surgical revenue grew 8.7% (7.5% constant currency), driven by the acquired Gynesonics business and other product sales.
  • Cash flow from operations was $229.9 million, an increase of 21.4% year-over-year.
  • Non-GAAP diluted EPS increased 1.0% to $1.04.
  • The company ended the quarter with $2.17 billion in cash and cash equivalents.

Cash Flow Health

Free Cash Flow8/8 positive
TTM$1.0B
Q '26
$215M-37%
Q4 '25
$341M+3%
FCF Margin
TTM25.2%
Q '2620.5%-37%
Sector: 5.8%Top 25%
OCF Margin26.6%
OCF/NI2.02x
CapEx Coverage19.4x
FCF Yield6.2%
FCF Growth (2Y)-15%
Cash Conversion Cycle
54 days
DSO: 54+DIO: DPO:

Capital Allocation & Returns

Growth Focused
Total Shareholder YieldTTM
TTM1.4%
Div Yield0.0%
+
Buyback (TTM)1.4%

Prioritizing reinvestment over distributions

Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$1.0B
Stock Repurchases (TTM)$235.6M
Capital Return / FCF22.6%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
10.9%
Stable
-0.2% YoY+0.5%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
14.3%
8Q: 18.4%
Asset Turnover
0.47x
8Q: 0.46x
Leverage (1+D/E)
1.48x
D/E: 0.48x
DuPont: 9.9%10.9% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
7.37x
8Q:7.43x
-31.0%
Invested Cap Turn
0.76x
8Q:0.78x
Flat
CapEx Intensity
1.0%
8Q:1.1%
CapEx/Depreciation
0.19x
Depreciation Rate Trend
⚠ Declining -3.0%
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024
Revenue
$4.1B
$1.0B0.2%
$1.0B2.5%
$1.0B1.8%
$1.0B1.6%
$1.0B3.4%
$988.0M2.3%
$1.0B0.6%
$1.0B
Operating Income
$721.5M
$237.0M0.0%
$236.9M7.0%
$254.6M3737.1%
$-7.0M103.0%
$229.8M0.1%
$230.0M5.7%
$244.0M16.0%
$210.4M
Net Income
$543.8M
$179.1M4.3%
$187.2M4.0%
$194.9M1220.1%
$-17.4M108.7%
$201.0M12.5%
$178.6M8.2%
$194.5M14.5%
$169.9M
Operating Cash Flow
$1.1B
$229.9M35.3%
$355.1M3.4%
$343.3M102.7%
$169.4M10.5%
$189.3M48.4%
$367.0M9.6%
$405.8M38.8%
$292.4M
Free Cash Flow
$1.0B
$215.2M37.0%
$341.4M3.3%
$330.5M114.7%
$153.9M10.8%
$172.5M50.8%
$350.6M9.0%
$385.3M37.8%
$279.6M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
30.8x
Valuation Lenses
Earnings
30.8x
vs sector
Cash Flow
11803.3x
EV/FCF vs
Growth-Adj
PEG
N/A
Quality-Adj
2.8P/E per %ROIC
ROIC: 10.9%
Shareholder Returns
Dividend
Buyback
1.4%
Total Yield
1.4%
Market Cap$16.74B
EV
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
76/100
High Quality

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Above Avg
11.1%
8Q:
Return on Invested Capital (ROIC)Top 25%
10.9%
8Q:
Flat
vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 14.3%
Asset Turnover: 0.47x

Earnings Quality

Cash Conversion

2.02x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin51.5%

Capital Efficiency

Invested Capital Turnover0.76x

Working Capital

Cash Conversion Cycle54 days

Growth Quality & Momentum

Low Quality
Growth Quality Score
45/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
2.2%
OpInc Growth YoY
3.1%
EPS Growth YoY
-24.1%
FCF 3Y CAGR
-15.0%

Growth Quality Analysis

Working Capital Drag: FCF growth lagging revenue by 17.2%
Sustainability Index: 3.0/10 - Growth sustainability concerns

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
51.5%
Operating
17.5%
Above Avg in sector
Net
13.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+12.0 pts
FCF: 25.2% | Net: 13.2%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Adequate
Net Debt / EBITDA
Net Debt: $144.10M
Interest Coverage
Leverage Metrics
Debt-to-Equity
0.48x
Balance sheet risk & solvency analysis