Sector
Health care, in the accounts
101 companies · each one's last fiscal year · from their SEC filings
Health care has 101 companies with five or more years of accounts filed with the SEC. The median one grew revenue +9% in its last fiscal year and kept 13% of it as operating profit; a quarter of them kept more than 20%. The median return on invested capital is 8%, with the middle half of the sector between 1% and 15%. Net debt is 0.9 times EBITDA at the median company.
Revenue growth, last year
+9%
middle half: +2% to +18% · 92 companies
Gross margin
67%
middle half: 50% to 77% · 66 companies
Operating margin
13%
middle half: -3% to 20% · 87 companies
Free cash flow margin
12%
middle half: 1% to 20% · 84 companies
Return on invested capital
8%
middle half: 1% to 15% · 64 companies
Net debt to EBITDA
0.9×
middle half: -0.3× to 2.5× · 67 companies
R&D as a share of revenue
16%
middle half: 6% to 33% · 65 companies
Stock compensation as a share of revenue
2%
middle half: 1% to 12% · 93 companies
The companies
Largest first. Each figure is the company's last fiscal year, as filed; open a company for its ten years.
| Company | Revenue | Growth | Operating margin | FCF margin | ROIC | Net debt / EBITDA |
|---|---|---|---|---|---|---|
| LLY ELI Lilly & Co 2025 | 65.2B | +45% | 41% | — | 31% | 1.2× |
| JNJ Johnson & Johnson 2025 | 94.2B | +6% | 36% | 21% | 22% | 0.5× |
| ABBV AbbVie Inc. 2025 | 61.2B | +9% | 25% | 29% | 15% | 3.9× |
| MRK Merck & Co., Inc. 2025 | 65.0B | +1% | 34% | 19% | 19% | 1.4× |
| AMGN Amgen Inc 2025 | 36.8B | +10% | 25% | 22% | 12% | 3.2× |
| GILD Gilead Sciences, Inc. 2025 | 29.4B | +2% | 34% | 32% | 18% | 1.7× |
| ABT Abbott Laboratories 2025 | 44.3B | +6% | 18% | 17% | 10% | 0.5× |
| PFE Pfizer Inc 2025 | 62.6B | -2% | 16% | 15% | 7% | 3.8× |
| ISRG Intuitive Surgical Inc 2025 | 10.1B | +21% | 29% | 25% | — | — |
| VRTX Vertex Pharmaceuticals Inc / MA 2025 | 12.0B | +9% | 35% | 27% | — | — |
| BMY Bristol Myers Squibb Co 2025 | 48.2B | -0% | 23% | 27% | 13% | 2.3× |
| MDT Medtronic plc 2026 | 36.4B | +8% | 18% | 15% | 10% | -0.0× |
| SYK Stryker Corp 2025 | 25.1B | +11% | 19% | 17% | 9% | 1.8× |
| MCK Mckesson Corp 2026 | 403.4B | +12% | 2% | 1% | 117% | 0.4× |
| HCA HCA Healthcare, Inc. 2025 | 75.6B | +7% | 16% | 10% | 24% | 2.9× |
| ELV Elevance Health, Inc. 2025 | 199.1B | +12% | 4% | 2% | 8% | 2.6× |
| MMM 3M Co 2025 | 24.9B | +2% | 19% | 6% | 20% | 1.2× |
| REGN Regeneron Pharmaceuticals, Inc. 2025 | 14.3B | +1% | 25% | 28% | 9% | -0.3× |
| MRNA Moderna, Inc. 2025 | 1.9B | -40% | -158% | -106% | -34% | 0.7× |
| BSX Boston Scientific Corp 2025 | 20.1B | +20% | 18% | 18% | 13% | -0.3× |
| COR Cencora, Inc. 2025 | 321.3B | +9% | 1% | 1% | 20% | 0.9× |
| NTRA Natera, Inc. 2025 | 2.3B | +36% | -13% | 5% | -21% | 3.7× |
| CAH Cardinal Health Inc 2026 | 254.2B | +14% | 1% | 2% | — | — |
| EW Edwards Lifesciences Corp 2025 | 6.1B | +12% | 21% | 22% | 10% | -1.6× |
| BDX Becton Dickinson & Co 2025 | 21.8B | +8% | 12% | 12% | 5% | 3.7× |
| TEVA Teva Pharmaceutical Industries Ltd 2025 | 17.3B | +4% | 12% | 7% | 19% | -0.6× |
| HUM Humana Inc 2025 | 129.7B | +10% | 2% | 0% | 7% | 2.4× |
| IQV Iqvia Holdings Inc. 2025 | 16.3B | +6% | 13% | 13% | 8% | 4.1× |
| ONC BeOne Medicines Ltd. 2025 | 5.3B | +40% | 8% | 18% | 6% | -6.0× |
| RVMD Revolution Medicines, Inc. 2025 | — | — | — | — | — | — |
| IDXX Idexx Laboratories Inc 2025 | 4.3B | +10% | 32% | 25% | 53% | 0.2× |
| DXCM Dexcom Inc 2025 | 4.7B | +16% | 20% | 23% | — | — |
| ALNY Alnylam Pharmaceuticals, Inc. 2025 | 3.7B | +65% | 14% | 13% | — | — |
| RPRX Royalty Pharma plc 2025 | 2.4B | +5% | 66% | — | 8% | 5.3× |
| BIIB Biogen Inc. 2025 | 9.9B | +2% | 18% | 21% | 6% | 1.3× |
| RMD Resmed Inc 2026 | 5.7B | +10% | 33% | 29% | 21% | -0.4× |
| CNC Centene Corp 2025 | 174.6B | +20% | -4% | 2% | -21% | 0.1× |
| ZTS Zoetis Inc. 2025 | 9.5B | +2% | 38% | 24% | 23% | 1.7× |
| ROIV Roivant Sciences Ltd. 2026 | 8.3M | -72% | — | — | — | — |
| INSM Insmed Inc 2025 | 606.4M | +67% | -206% | -160% | -98% | -0.0× |
| WST West Pharmaceutical Services Inc 2025 | 3.1B | +6% | 19% | 15% | 14% | -0.8× |
| DGX Quest Diagnostics Inc 2025 | 11.0B | +12% | 14% | 12% | 9% | 2.5× |
| LH Labcorp Holdings Inc. 2025 | 14.0B | +7% | 10% | 9% | — | 2.4× |
| THC Tenet Healthcare Corp 2025 | 21.3B | +3% | 16% | 12% | — | — |
| MEDP Medpace Holdings, Inc. 2025 | 2.5B | +20% | 21% | 27% | — | — |
| CRL Charles River Laboratories International, Inc. 2025 | 4.0B | -1% | 1% | 13% | 1% | -0.5× |
| SMMT Summit Therapeutics Inc. 2024 | — | — | — | — | — | — |
| BBIO BridgeBio Pharma, Inc. 2025 | 502.1M | +126% | -104% | -89% | — | -2.8× |
| CORT Corcept Therapeutics Inc 2025 | 761.4M | +13% | 6% | 19% | — | — |
| PEN Penumbra Inc 2025 | 1.4B | +17% | 13% | 12% | — | — |
| BMRN Biomarin Pharmaceutical Inc 2025 | 3.2B | +13% | 13% | 23% | — | — |
| EHC Encompass Health Corp 2025 | 5.9B | +10% | 18% | 7% | — | — |
| ELAN Elanco Animal Health Inc 2025 | 4.7B | +6% | -5% | 6% | -2% | 7.1× |
| ALGN Align Technology Inc 2025 | 4.0B | +1% | 14% | 12% | — | — |
| COO Cooper Companies, Inc. 2025 | 4.1B | +5% | 17% | 11% | 4% | 2.3× |
| KRYS Krystal Biotech, Inc. 2025 | 389.1M | +34% | 41% | 49% | — | — |
| GMED Globus Medical Inc 2025 | 2.9B | +17% | 16% | 20% | — | — |
| MOH Molina Healthcare, Inc. 2025 | 45.4B | +12% | 2% | -1% | 8% | -0.5× |
| IBRX ImmunityBio, Inc. 2025 | 113.3M | — | -226% | -273% | 51% | 0.4× |
| PODD Insulet Corp 2025 | 2.7B | +31% | 17% | 14% | 22% | -1.2× |
| OSCR Oscar Health, Inc. 2025 | 28.6M | +39% | — | — | -29% | 6.4× |
| IONS Ionis Pharmaceuticals Inc 2025 | 943.7M | +34% | -40% | -34% | -17% | -3.7× |
| MSA MSA Safety Inc 2025 | 1.9B | +4% | 20% | 16% | 15% | 0.9× |
| ORKA Oruka Therapeutics, Inc. 2023 | — | — | — | — | — | — |
| LQDA Liquidia Corp 2025 | 158.3M | — | -32% | -25% | — | — |
| RDNT RadNet, Inc. 2025 | 2.0B | +12% | 3% | — | 2% | 1.5× |
| MMSI Merit Medical Systems Inc 2025 | 1.5B | +12% | 12% | 14% | 6% | 0.9× |
| ADPT Adaptive Biotechnologies Corp 2025 | 277.0M | +55% | -21% | -18% | -16% | -1.5× |
| LIVN LivaNova plc 2025 | 1.4B | +11% | 14% | 12% | 14% | -1.1× |
| ITGR Integer Holdings Corp 2025 | 1.9B | +8% | 12% | 6% | 6% | 3.3× |
| NVST Envista Holdings Corp 2025 | 2.7B | +8% | 8% | 8% | 1% | 0.7× |
| XENE Xenon Pharmaceuticals Inc. 2025 | 7.5M | — | — | — | — | — |
| OGN Organon & Co. 2025 | 6.2B | -3% | 15% | 9% | 4% | 7.4× |
| RCUS Arcus Biosciences, Inc. 2025 | 33.0M | -35% | — | — | -53% | 0.3× |
| QURE uniQure N.V. 2025 | 16.1M | -41% | — | — | -77% | 0.2× |
| NEOG Neogen Corp 2026 | 870.4M | -3% | -2% | 4% | -1% | 6.4× |
| HRMY Harmony Biosciences Holdings, Inc. 2025 | 868.5M | +22% | 24% | 40% | 15% | — |
| PBH Prestige Consumer Healthcare Inc. 2026 | 1.1B | -4% | 28% | 23% | 8% | 2.7× |
| RXRX Recursion Pharmaceuticals, Inc. 2025 | 74.7M | +27% | — | — | — | — |
| NKTR Nektar Therapeutics 2025 | 55.2M | -44% | -254% | -378% | — | — |
| ESTA Establishment Labs Holdings Inc. 2025 | 211.1M | +27% | -18% | -27% | -16% | -5.2× |
| PRGO Perrigo Co plc 2025 | 4.3B | -3% | -26% | 3% | -18% | -4.0× |
| SNDX Syndax Pharmaceuticals Inc 2025 | 172.4M | — | -158% | -188% | — | -0.8× |
| RARE Ultragenyx Pharmaceutical Inc. 2025 | 673.0M | +20% | -79% | -70% | — | — |
| PNTG Pennant Group, Inc. 2025 | 947.7M | +36% | 5% | 4% | 7% | 2.6× |
| EYE National Vision Holdings, Inc. 2026 | 2.0B | +9% | 3% | 4% | 4% | 1.3× |
| HLF Herbalife Ltd. 2025 | 5.0B | +1% | 10% | 5% | 27% | 2.7× |
| IART Integra Lifesciences Holdings Corp 2025 | 1.6B | +2% | -30% | -2% | -30% | -1.1× |
| WVE Wave Life Sciences, Inc. 2025 | 42.7M | -61% | — | -440% | — | — |
| COLL Collegium Pharmaceutical, Inc 2025 | 780.6M | +24% | 23% | 42% | — | — |
| ALT Altimmune, Inc. 2025 | 41,000 | +105% | — | — | -37% | 0.1× |
| DNA Ginkgo Bioworks Holdings, Inc. 2025 | 170.2M | -25% | -185% | -105% | — | — |
| PRME Prime Medicine, Inc. 2025 | 4.6M | +55% | — | — | — | — |
| SPRY ARS Pharmaceuticals, Inc. 2025 | 84.3M | -5% | -213% | -203% | -85% | -0.3× |
| RCKT Rocket Pharmaceuticals, Inc. 2025 | — | — | — | — | — | — |
| ENTA Enanta Pharmaceuticals Inc 2025 | 65.3M | -3% | -131% | -49% | — | — |
| LAB Standard Biotools Inc. 2025 | 85.3M | -6% | -129% | -97% | — | — |
| KROS Keros Therapeutics, Inc. 2025 | 244.1M | — | 28% | 43% | — | — |
| CRBU Caribou Biosciences, Inc. 2025 | 11.2M | +12% | — | — | — | — |
| INGN Inogen Inc 2025 | 295.3M | +6% | -10% | -5% | — | — |
| CRIS Curis Inc 2025 | 9.4M | -13% | -60% | — | — | 0.9× |
Other sectors
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Signed in, the risk tab groups your holdings with this same classification: how much money and how much risk sits in each sector, and each company against its sector's median.
Sectors are grouped from each company's SEC industry code — our own grouping of public data, not the GICS classification. Only companies that file their accounts with the US Securities and Exchange Commission are covered: their filings are public, so they can be shown to anyone. A European share or an ETF files elsewhere, and is not here. Nothing on these pages is a recommendation to buy or sell anything.