AHCO - AdaptHealth Corp.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$14.40
DETAILS
HIGH:
$18.00
LOW:
$11.00
MEDIAN:
$15.00
CONSENSUS:
$14.40
UPSIDE:
37.80%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 3,244.9 | 3,261.0 | 3,200.2 | 2,970.6 | 2,454.5 | 1,056.4 | 529.6 | 345.3 | 192.6 | 174.3 |
| Cost of Revenue | 2,676.3 | 2,579.9 | 2,518.4 | 2,553.2 | 2,008.9 | 898.6 | 440.7 | 285.2 | 162.9 | 158.7 |
| Gross Profit | 568.6 | 681.1 | 681.8 | 417.4 | 445.6 | 157.8 | 88.9 | 60.1 | 29.7 | 15.6 |
| Operating Expenses | ||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.3 | 0 |
| SG&A Expenses | 382.3 | 359.2 | 190.1 | 162.1 | 167.5 | 89.3 | 56.5 | 1.0 | 0.0 | 11.4 |
| Other Expenses | 0 | 58.1 | 1,090.1 | 64.9 | 52.5 | (2.9) | 3.1 | 0.2 | 0 | 0 |
| Operating Expenses | 382.3 | 417.4 | 1,280.2 | 227.0 | 220.0 | 86.4 | 59.6 | 1.2 | 0.0 | 13.3 |
| Operating Income | ||||||||||
| Operating Income | 186.3 | 263.7 | (598.4) | 190.4 | 225.6 | 71.3 | 29.4 | (1.2) | (0.0) | 2.3 |
| Interest Expense | 105.8 | 126.7 | 130.3 | 109.4 | 95.2 | 41.4 | 39.3 | 4.1 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.1 | 0 | 5.8 |
| Profitability | ||||||||||
| EBITDA | 503.6 | 628.0 | (171.1) | 630.8 | 544.2 | (82.2) | 80.0 | 80.8 | 43.9 | 28.9 |
| EBIT | 90.6 | 262.7 | (591.7) | 207.3 | 286.2 | (164.6) | 17.4 | 30.2 | (0.0) | 2.3 |
| Income Before Tax | (15.2) | 136.0 | (723.8) | 97.9 | 191.0 | (206.0) | (21.9) | 2.9 | (0.0) | (3.4) |
| Income Tax Expense | 50.9 | 41.2 | (49.0) | 24.8 | 32.8 | (12.0) | 0.7 | 0.8 | 0 | (0.2) |
| Net Income | (70.8) | 90.4 | (678.9) | 69.3 | 156.2 | (161.6) | (21.3) | 2.1 | (0.0) | (3.8) |
| Per Share Data | ||||||||||
| EPS (Basic) | -0.52 | 0.62 | -5.32 | 0.52 | 1.12 | -1.23 | 0.17 | 0.07 | – | -0.12 |
| EPS (Diluted) | -0.52 | 0.61 | -5.31 | 0.50 | 0.67 | -1.23 | 0.17 | 0.07 | – | -0.12 |
| Shares Outstanding | 135.1 | 133.8 | 134.2 | 134.2 | 126.3 | 52.5 | 72.4 | 31.2 | 31.2 | 31.2 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 106.1 | 109.7 | 77.1 | 46.3 | 149.6 | 100.0 | 76.9 | 0.9 | 0.1 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 370.9 | 408.0 | 388.9 | 359.1 | 359.9 | 171.1 | 78.6 | 53.0 | 0 |
| Inventory | 151.2 | 139.8 | 113.6 | 127.8 | 123.1 | 58.8 | 13.2 | 7.7 | 5.0 |
| Other Current Assets | 0 | 98.2 | 69.3 | 52.1 | 0 | 0 | 0 | (60.7) | 0 |
| Total Current Assets | 728.9 | 755.8 | 649.0 | 585.3 | 670.1 | 363.3 | 181.4 | 1.1 | 0.1 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 674.2 | 618.4 | 637.5 | 622.0 | 546.3 | 110.5 | 63.6 | 61.6 | 35.6 |
| Goodwill | 2,541.4 | 2,675.2 | 2,725.0 | 3,545.3 | 3,512.6 | 998.8 | 266.8 | 202.4 | 38.6 |
| Intangible Assets | 85.1 | 105.5 | 130.2 | 162.8 | 202.2 | 116.1 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (276.9) | 0 |
| Other Non-Current Assets | 19.1 | 17.6 | 21.1 | 22.4 | 15.1 | 16.5 | 6.9 | 253.0 | (74.0) |
| Total Non-Current Assets | 3,587.7 | 3,731.2 | 3,859.6 | 4,634.3 | 4,580.4 | 1,450.2 | 365.1 | 253.0 | 0.2 |
| Total Assets | 4,316.6 | 4,486.9 | 4,508.6 | 5,219.6 | 5,250.5 | 1,813.5 | 546.5 | 254.1 | 0.3 |
| Current Liabilities | |||||||||
| Account Payables | 352.4 | 284.6 | 211.5 | 222.5 | 248.0 | 191.0 | 79.2 | 0.0 | 0.1 |
| Short-Term Debt | 20.3 | 16.2 | 53.4 | 35 | 20 | 8.1 | 1.7 | 27.9 | 0.2 |
| Deferred Revenue | 0 | 34.9 | 38.6 | 31.6 | 31.4 | 11.0 | 9.6 | 7.5 | 0 |
| Other Current Liabilities | 291.3 | 33.5 | 14.7 | 19.9 | 43.2 | 126.4 | 20.3 | (27.9) | (9.9) |
| Total Current Liabilities | 712.4 | 567.0 | 537.0 | 456.2 | 499.8 | 422.1 | 154.1 | 0.7 | 0.3 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 1,716.0 | 1,964.9 | 2,094.6 | 2,153.3 | 2,183.6 | 776.6 | 395.1 | 127.1 | 52.7 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.8 | 0 |
| Other Non-Current Liabilities | 243.8 | 272.0 | 302.1 | 344.0 | 380.3 | 334.0 | 62.9 | (119.4) | (52.7) |
| Total Non-Current Liabilities | 2,077.9 | 2,341.8 | 2,505.0 | 2,605.6 | 2,684.0 | 1,110.6 | 458.3 | 7.9 | 54.9 |
| Total Liabilities | 2,790.3 | 2,908.8 | 3,042.0 | 3,061.8 | 3,183.8 | 1,532.6 | 612.3 | 8.6 | 0.3 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 240.6 | 0.0 |
| Retained Earnings | (633.0) | (562.2) | (652.6) | 26.3 | (43.0) | (199.2) | (40.3) | 2.1 | (0.0) |
| Accumulated Other Comprehensive Income | 0.1 | 2.3 | 4.4 | 8.7 | (2.4) | (4.4) | 1.4 | 0 | 0 |
| Total Stockholders' Equity | 1,518.6 | 1,571.1 | 1,458.5 | 2,151.2 | 2,061.9 | 354.9 | (38.8) | 245.5 | 0.0 |
| Total Liabilities & Equity | 4,316.6 | 4,486.9 | 4,508.6 | 5,219.6 | 5,250.5 | 1,813.5 | 546.5 | 254.1 | 0.3 |
| Debt Metrics | |||||||||
| Total Debt | 1,902.8 | 2,130.3 | 2,294.6 | 2,328.8 | 2,370.6 | 807.0 | 416.8 | 155.2 | 0.2 |
| Net Debt | 1,796.7 | 2,020.6 | 2,217.5 | 2,282.6 | 2,221.0 | 707.0 | 339.9 | 154.2 | 0.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (66.0) | 94.8 | (678.9) | 73.1 | 158.2 | (194.1) | 12.2 | 2.1 | (0.0) | (4.2) |
| Depreciation & Amortization | 381.9 | 365.3 | 420.6 | 351.2 | 258.1 | 82.4 | 11.3 | 50.6 | 27.8 | 26.6 |
| Stock-Based Compensation | 21.9 | 14.9 | 22.5 | 22.4 | 25.3 | 18.7 | 11.1 | 0.9 | 0.0 | 0.0 |
| Change in Working Capital | 66.6 | (26.1) | (25.1) | (108.0) | (153.3) | 76.9 | (18.2) | 0.4 | 0.0 | (9.7) |
| Other Non-Cash Items | 150.3 | 60.9 | 804.2 | 17.1 | (34.9) | 232.8 | 43.1 | 65.9 | 12.0 | 17.3 |
| Operating Cash Flow | 601.8 | 541.8 | 480.7 | 373.9 | 275.7 | 195.6 | 60.4 | 68.4 | 45.9 | 29.9 |
| Investing Activities | ||||||||||
| Capital Expenditure | (382.4) | (306.1) | (337.5) | (391.4) | (203.3) | (39.8) | (21.3) | (9.9) | (6.9) | (2.5) |
| Acquisitions | (42.4) | (9.5) | (19.7) | (19.0) | (1,620.3) | (769.3) | 0.6 | (86.3) | (8.5) | (1.3) |
| Purchases of Investments | 0 | 0 | (0.1) | (0.7) | (1.1) | (8.7) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 2.0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 121.6 | 5.3 | 0 | 0 | 0 | 0 | 20.4 | (238.9) | 0.3 | 1.1 |
| Investing Cash Flow | (303.2) | (310.3) | (357.3) | (411.2) | (1,824.8) | (815.7) | (0.4) | (248.9) | (15.1) | (2.7) |
| Financing Activities | ||||||||||
| Net Debt Issuance | (268.5) | (179.9) | (51.8) | (36.2) | 1,395.6 | 354.7 | 205.7 | (0.2) | (29.7) | (25.7) |
| Stock Repurchased | 0 | 0 | (29.3) | (14.0) | 0 | (44.3) | (23.7) | 0 | 0.0 | (0.8) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | (250) | 0 | 0 | 0 |
| Other Financing Activities | (34.9) | (19.1) | (11.5) | (15.9) | (75.7) | (34.9) | (70.8) | 1.5 | (0.6) | (1.1) |
| Financing Cash Flow | (302.2) | (198.9) | (92.5) | (66.1) | 1,598.7 | 643.2 | (13.9) | 251.3 | 0.1 | (27.6) |
| Cash Position | ||||||||||
| Net Change in Cash | (3.6) | 32.6 | 30.9 | (103.4) | 49.7 | 23.1 | (0.9) | 0.8 | (3.6) | (0.3) |
| Cash at Beginning | 109.7 | 77.1 | 46.3 | 149.6 | 100.0 | 76.9 | 10.6 | 0.1 | 3.7 | 4.0 |
| Cash at End | 106.1 | 109.7 | 77.1 | 46.3 | 149.6 | 100.0 | 9.8 | 0.9 | 0.1 | 3.7 |
| Free Cash Flow | 219.4 | 235.8 | 143.2 | (17.6) | 72.4 | 155.9 | 39.1 | 58.5 | 39.1 | 27.5 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 3,244.9 | 3,261.0 | 3,200.2 | 2,970.6 | 2,454.5 | 1,056.4 | 529.6 | 345.3 | 192.6 | 174.3 |
| Gross Profit | 568.6 | 681.1 | 681.8 | 417.4 | 445.6 | 157.8 | 88.9 | 60.1 | 29.7 | 15.6 |
| Operating Income | 186.3 | 263.7 | (598.4) | 190.4 | 225.6 | 71.3 | 29.4 | (1.2) | (0.0) | 2.3 |
| Net Income | (70.8) | 90.4 | (678.9) | 69.3 | 156.2 | (161.6) | (21.3) | 2.1 | (0.0) | (3.8) |
| EPS (Diluted) | -0.52 | 0.61 | -5.31 | 0.50 | 0.67 | -1.23 | 0.17 | 0.07 | – | -0.12 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 106.1 | 109.7 | 77.1 | 46.3 | 149.6 | 100.0 | 76.9 | 0.9 | 0.1 | |
| Total Assets | 4,316.6 | 4,486.9 | 4,508.6 | 5,219.6 | 5,250.5 | 1,813.5 | 546.5 | 254.1 | 0.3 | |
| Total Debt | 1,902.8 | 2,130.3 | 2,294.6 | 2,328.8 | 2,370.6 | 807.0 | 416.8 | 155.2 | 0.2 | |
| Stockholders' Equity | 1,518.6 | 1,571.1 | 1,458.5 | 2,151.2 | 2,061.9 | 354.9 | (38.8) | 245.5 | 0.0 | |
| Cash Flow | ||||||||||
| Operating Cash Flow | 601.8 | 541.8 | 480.7 | 373.9 | 275.7 | 195.6 | 60.4 | 68.4 | 45.9 | 29.9 |
| Capital Expenditure | (382.4) | (306.1) | (337.5) | (391.4) | (203.3) | (39.8) | (21.3) | (9.9) | (6.9) | (2.5) |
| Free Cash Flow | 219.4 | 235.8 | 143.2 | (17.6) | 72.4 | 155.9 | 39.1 | 58.5 | 39.1 | 27.5 |