The Idiot Index

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Sector
Labor ShareApplied to pharmaceutical and integrated healthcare companies. COGS captures manufacturing of drugs, devices, and clinical services; R&D in this sector is capitalized into pipeline value rather than expensed-and-forgotten, so the Shareholder Extraction ratio carries explicit…
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Labor Share in Pharma & Healthcare · FY 2023

30 of 48 companies · highest first
  1. 1
    NTRANatera
    83¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 2%
    0.8290
    of revenue → workers
  2. 2
    HCAHCA Healthcare
    46¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 5%
    0.4558
    of revenue → workers
  3. 3
    STESTERIS
    45¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 8%
    0.4497
    of revenue → workers
  4. 4
    LHLabcorp
    41¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 12%
    0.4050
    of revenue → workers
  5. 5
    DGXQuest Diagnostics
    39¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 15%
    0.3861
    of revenue → workers
  6. 6
    BAXBaxter
    31¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 18%
    0.3119
    of revenue → workers
  7. 7
    AAgilent
    30¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 22%
    0.3015
    of revenue → workers
  8. 8
    MDTMedtronic
    29¢ of every $1 of revenue reaches workers
    sector median 0.1761Bottom 25%
    0.2946
    of revenue → workers
  9. 9
    BSXBoston Scientific
    28¢ of every $1 of revenue reaches workers
    sector median 0.1761Median range
    0.2842
    of revenue → workers
  10. 10
    IDXXIDEXX Labs
    28¢ of every $1 of revenue reaches workers
    sector median 0.1761Median range
    0.2774
    of revenue → workers

Not yet covered (18)

These companies are in the Pharma & Healthcare cohort but don't have a Labor Share computed for FY 2023. Either the underlying inputs aren't tagged in their XBRL filings, the DEF 14A pay-ratio narrative didn't parse cleanly, or this fiscal year hasn't been ingested for them yet.

What this measures

Full methodology →

How much of every revenue dollar reaches workers.

Ratio
Labor Share
Sector
Pharma & Healthcare
Methodology version
v1.0.0
Formula
TotalEmployeeCompensation / Revenue
Sector context

Applied to pharmaceutical and integrated healthcare companies. COGS captures manufacturing of drugs, devices, and clinical services; R&D in this sector is capitalized into pipeline value rather than expensed-and-forgotten, so the Shareholder Extraction ratio carries explicit weight as an indicator of capital allocation priority.

How much of revenue flows to the people creating it. Includes wages, salaries, benefits, and stock-based compensation.

When direct disclosure is missing: approximated as Headcount × Median Pay × 1.30 (1.30 grosses up base pay to fully-loaded compensation including benefits and equity). The approximation is documented per company on its detail page.

Source data: LaborAndRelatedExpense, ShareBasedCompensation (us-gaap), or EmployeeBenefitsExpense (ifrs-full). When approximated: NumberOfEmployees × disclosed median compensation.