BTSGU - BrightSpring Health Services, Inc. Tangible Equity Unit
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| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 12,910.6 | 11,266.5 | 8,826.2 | 7,720.6 | 6,698.1 | 5,580.4 | 4,525.2 | 2,536.1 |
| Cost of Revenue | 11,392.8 | 9,678.0 | 7,392.4 | 6,366.3 | 5,449.9 | 4,531.6 | 3,691.3 | 2,160.1 |
| Gross Profit | 1,517.8 | 1,588.4 | 1,433.8 | 1,354.2 | 1,248.2 | 1,048.7 | 833.9 | 375.9 |
| Operating Expenses | ||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 1,109.7 | 1,382.1 | 1,286.6 | 1,125.6 | 1,014.0 | 883.5 | 770.6 | 301.1 |
| Other Expenses | 0 | 0 | 0 | 40.9 | 0 | 0 | 0 | 0 |
| Operating Expenses | 1,109.7 | 1,382.1 | 1,286.6 | 1,166.4 | 1,014.0 | 883.5 | 770.6 | 301.1 |
| Operating Income | ||||||||
| Operating Income | 408.1 | 206.4 | 147.2 | 187.8 | 234.2 | 165.2 | 63.3 | 74.8 |
| Interest Expense | 157.3 | 228.4 | 324.6 | 233.6 | 165.3 | 139.0 | 166.9 | 74.6 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | ||||||||
| EBITDA | 572.3 | 398.1 | 349.5 | 391.8 | 433.3 | 346.7 | 218.2 | 156.0 |
| EBIT | 408.1 | 193.6 | 147.2 | 187.8 | 234.2 | 165.2 | 63.3 | 74.8 |
| Income Before Tax | 137.9 | (34.7) | (177.4) | (45.8) | 68.9 | 26.2 | (103.6) | (10.8) |
| Income Tax Expense | 33.1 | (14.2) | (20.6) | 8.5 | 17.6 | 5.1 | (32.5) | (3.2) |
| Net Income | 190.7 | (18.1) | (154.6) | (53.9) | 49.8 | 20.8 | (72.4) | (7.6) |
| Per Share Data | ||||||||
| EPS (Basic) | 0.94 | -0.09 | -0.90 | -0.31 | 0.29 | 0.12 | -0.42 | -0.04 |
| EPS (Diluted) | 0.87 | -0.09 | -0.90 | -0.31 | 0.29 | 0.12 | -0.42 | -0.04 |
| Shares Outstanding | 202.6 | 193.0 | 171.2 | 171.2 | 171.2 | 171.2 | 171.2 | 171.2 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Current Assets | |||||||
| Cash & Cash Equivalents | 88.4 | 61.3 | 13.1 | 13.6 | 46.7 | 262.0 | 18.3 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 989.7 | 1,149.1 | 1,010.8 | 868.4 | 805.0 | 700.8 | 622.3 |
| Inventory | 815.2 | 640.6 | 402.8 | 430.5 | 299.2 | 300.1 | 198.5 |
| Other Current Assets | 1,000.8 | 24.6 | 13.2 | 13.5 | 12.7 | 16.4 | 23.4 |
| Total Current Assets | 2,894.1 | 1,893.1 | 1,456.6 | 1,344.3 | 1,180.6 | 1,290.4 | 870.7 |
| Non-Current Assets | |||||||
| Property, Plant & Equipment | 376.3 | 500.0 | 513.4 | 475.3 | 524.6 | 450.7 | 432.6 |
| Goodwill | 2,545.7 | 2,671.5 | 2,608.4 | 2,576.1 | 2,657.9 | 1,669.4 | 1,410.9 |
| Intangible Assets | 557.6 | 811.5 | 881.5 | 975.9 | 1,111.6 | 1,095.9 | 1,066.3 |
| Long-Term Investments | 0 | 0.7 | 0.7 | 0.7 | 2.7 | 2.5 | 2.4 |
| Other Non-Current Assets | 39.7 | 43.8 | 72.1 | 68.9 | 35.8 | 32.2 | 34.6 |
| Total Non-Current Assets | 3,519.3 | 4,033.1 | 4,076.1 | 4,096.9 | 4,332.5 | 3,250.7 | 2,946.7 |
| Total Assets | 6,413.3 | 5,926.1 | 5,532.7 | 5,441.1 | 5,513.1 | 4,541.1 | 3,817.3 |
| Current Liabilities | |||||||
| Account Payables | 1,217.9 | 941.3 | 641.6 | 526.9 | 408.1 | 355.8 | 252.8 |
| Short-Term Debt | 102.1 | 48.7 | 32.3 | 30.4 | 40.5 | 22.5 | 18.5 |
| Deferred Revenue | 0 | 11.0 | 30.8 | 29.0 | 10.5 | 22.8 | 3.3 |
| Other Current Liabilities | 529.0 | 98.8 | 118.1 | 80.7 | 95.9 | 16.2 | 14.2 |
| Total Current Liabilities | 1,849.0 | 1,428.3 | 1,248.4 | 932.5 | 892.2 | 742.8 | 622.0 |
| Non-Current Liabilities | |||||||
| Long-Term Debt | 2,590.6 | 2,561.9 | 3,331.9 | 3,364.3 | 3,393.2 | 2,671.3 | 2,163.9 |
| Deferred Tax Liabilities | 6.2 | 0 | 23.7 | 79.4 | 98.2 | 121.6 | 65.7 |
| Other Non-Current Liabilities | (68.9) | 71.8 | 91.9 | 75.9 | 77.0 | 58.0 | 65.5 |
| Total Non-Current Liabilities | 2,677.9 | 2,846.2 | 3,671.7 | 3,724.5 | 3,820.5 | 3,062.9 | 2,485.1 |
| Total Liabilities | 4,526.9 | 4,274.6 | 4,920.2 | 4,657.1 | 4,712.7 | 3,805.7 | 3,107.1 |
| Stockholders' Equity | |||||||
| Common Stock | 1.9 | 1.7 | 1.2 | 1.2 | 1.2 | 745.2 | 745.9 |
| Retained Earnings | (74.6) | (222.2) | (200.3) | (45.7) | 1.0 | (51.8) | (94.3) |
| Accumulated Other Comprehensive Income | (6.7) | 1.4 | 12.5 | 21.2 | 0.2 | 0.2 | 0.1 |
| Total Stockholders' Equity | 1,875.1 | 1,647.9 | 584.7 | 754.8 | 774.8 | 705.0 | 656.9 |
| Total Liabilities & Equity | 6,402.0 | 5,926.1 | 5,532.7 | 5,441.1 | 5,513.1 | 4,541.1 | 3,817.3 |
| Debt Metrics | |||||||
| Total Debt | 2,842.7 | 2,905.0 | 3,670.6 | 3,677.1 | 3,770.5 | 2,974.3 | 2,443.5 |
| Net Debt | 2,754.3 | 2,843.7 | 3,657.5 | 3,663.4 | 3,723.8 | 2,712.3 | 2,425.2 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | 189.1 | (20.5) | (156.8) | (54.2) | 51.3 | 21.2 | (71.1) | (7.6) |
| Depreciation & Amortization | 164.3 | 204.5 | 202.3 | 204.0 | 199.2 | 181.5 | 154.9 | 81.2 |
| Stock-Based Compensation | 70.1 | 69.2 | 3.9 | 3.5 | 4.5 | 6.3 | 3.7 | 1.4 |
| Change in Working Capital | (18.5) | (270.1) | 159.4 | (224.5) | (30.1) | (36.1) | (6.5) | (10.2) |
| Other Non-Cash Items | 70.4 | 66.6 | 54.6 | 94.5 | 38.8 | 27.2 | 64.3 | 16.6 |
| Operating Cash Flow | 490.2 | 23.8 | 210.8 | (4.7) | 270.2 | 222.6 | 110.9 | 76.5 |
| Investing Activities | ||||||||
| Capital Expenditure | (95.5) | (80.9) | (73.5) | (70.1) | (59.3) | (51.9) | (51.2) | (33.2) |
| Acquisitions | (204.6) | (59.8) | (63.1) | 113.3 | (1,133.1) | (402.0) | (1,482.4) | (2.4) |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (5.0) | 0.5 | 2.2 | 2.1 | 1.7 | 1.1 | 1.4 | (1.7) |
| Investing Cash Flow | (305.1) | (140.2) | (134.4) | 45.4 | (1,190.7) | (452.9) | (1,532.2) | (37.3) |
| Financing Activities | ||||||||
| Net Debt Issuance | (127.1) | (829.4) | (66.1) | (68.9) | 726.9 | 493.2 | 1,266.5 | (29.6) |
| Stock Repurchased | (43.2) | (0.7) | (0.7) | 0 | (0.4) | (1.1) | (12.3) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (12.9) | (50.8) | (10.1) | (4.9) | (34.0) | (18.1) | (118.6) | (2.7) |
| Financing Cash Flow | (157.9) | 164.6 | (76.9) | (73.8) | 705.2 | 473.9 | 1,409.1 | (32.2) |
| Cash Position | ||||||||
| Net Change in Cash | 27.2 | 48.2 | (0.6) | (33.1) | (215.3) | 243.7 | (12.2) | 6.9 |
| Cash at Beginning | 61.3 | 13.1 | 13.6 | 46.7 | 262.0 | 18.3 | 30.5 | 23.6 |
| Cash at End | 88.5 | 61.3 | 13.1 | 13.6 | 46.7 | 262.0 | 18.3 | 30.5 |
| Free Cash Flow | 394.7 | (57.1) | 137.3 | (74.8) | 210.9 | 170.7 | 59.7 | 43.3 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 12,910.6 | 11,266.5 | 8,826.2 | 7,720.6 | 6,698.1 | 5,580.4 | 4,525.2 | 2,536.1 |
| Gross Profit | 1,517.8 | 1,588.4 | 1,433.8 | 1,354.2 | 1,248.2 | 1,048.7 | 833.9 | 375.9 |
| Operating Income | 408.1 | 206.4 | 147.2 | 187.8 | 234.2 | 165.2 | 63.3 | 74.8 |
| Net Income | 190.7 | (18.1) | (154.6) | (53.9) | 49.8 | 20.8 | (72.4) | (7.6) |
| EPS (Diluted) | 0.87 | -0.09 | -0.90 | -0.31 | 0.29 | 0.12 | -0.42 | -0.04 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 88.4 | 61.3 | 13.1 | 13.6 | 46.7 | 262.0 | 18.3 | |
| Total Assets | 6,413.3 | 5,926.1 | 5,532.7 | 5,441.1 | 5,513.1 | 4,541.1 | 3,817.3 | |
| Total Debt | 2,842.7 | 2,905.0 | 3,670.6 | 3,677.1 | 3,770.5 | 2,974.3 | 2,443.5 | |
| Stockholders' Equity | 1,875.1 | 1,647.9 | 584.7 | 754.8 | 774.8 | 705.0 | 656.9 | |
| Cash Flow | ||||||||
| Operating Cash Flow | 490.2 | 23.8 | 210.8 | (4.7) | 270.2 | 222.6 | 110.9 | 76.5 |
| Capital Expenditure | (95.5) | (80.9) | (73.5) | (70.1) | (59.3) | (51.9) | (51.2) | (33.2) |
| Free Cash Flow | 394.7 | (57.1) | 137.3 | (74.8) | 210.9 | 170.7 | 59.7 | 43.3 |