Hologic, Inc.HOLX
NasdaqGS•Healthcare•Medical Instruments & Supplies
Hologic, Inc. engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide. It operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. The company provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth. It also offers breast cancer care solutions in the areas of radiology, breast surgery, pathology, and treatment, such as 3D digital mammography systems, image analysis software, reading workstations, minimally invasive breast biopsy guidance systems, breast biopsy site markers, localization, and specimen radiology systems; and breast conserving surgery products. In addition, the company provides MyoSure Hysteroscopic Tissue Removal System for the removal of fibroids and polyps in the uterus; NovaSure Endometrial Ablation System to treat abnormal uterine bleeding; Fluent Fluid Management System that provides liquid distention during diagnostic and operative hysteroscopic procedures; Acessa ProVu system to treat various fibroids; and CoolSeal portfolio, such as bipolar vessel sealing devices. Further, it offers Horizon DXA, a dual energy X-ray system. The company sells its products through direct sales, service forces, independent distributors, and sales representatives. The company was incorporated in 1985 and is headquartered in Marlborough, Massachusetts.
Hologic, Inc. (HOLX) reported trailing twelve months revenue of $4.13B as of December 2025, a 2.2% increase year-over-year. Quarterly revenue reached $1.05B, reflecting continued top-line momentum.
Hologic, Inc. generated $543.80M in TTM net income, with quarterly EBITDA of $306.60M. The operating margin expanded from 22.5% to 22.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (22.6%) and net margin (17.1%) indicates moderate non-operating costs. Net margin has narrowed from 19.7% a year ago, reflecting increased costs or interest expense.
HOLX trades at a P/S of N/A.
The company generated $215.20M in free cash flow over the trailing twelve months, a 24.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $9.18B in total assets with $2.50B in long-term debt against $5.25B in stockholders equity for a debt-to-equity ratio of 0.5, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 20.0%. The business may lack pricing power or face rising costs.'
ROE is positive at ~12.5% on average, adequate but below the threshold typically associated with wide moats.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 6 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 23.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF covers net income by 0.3x on average — earnings are well-supported by cash generation.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 4.9% — net buybacks are reducing shares outstanding and boosting per-share value.