AHCO · Adapthealth Corp. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $819.80M | - | $820.31M | $800.37M | $777.88M | - | $805.86M | $805.98M | $792.50M | - |
| Cost of Revenue | $708.30M | - | $658.37M | $645.71M | $657.44M | - | $681.87M | $678.97M | $675.69M | - |
| Gross Profit | $111.50M | - | $161.94M | $154.66M | $120.44M | - | $123.99M | $127.00M | $116.80M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $95.91M | - | $90.11M | $97.44M | $86.85M | - | $49.24M | $57.01M | $48.38M | - |
| Total Operating Expenses | $814.31M | - | $758.58M | $753.35M | $754.71M | - | $742.37M | $753.93M | $741.97M | - |
| D&A | $106.47M | - | $92.60M | $87.20M | $94.34M | - | $85.20M | $85.60M | $92.88M | - |
| Operating Income | $5.49M | - | $61.73M | $79.25M | $23.17M | - | $63.49M | $52.05M | $50.53M | - |
| Interest Expense | - | - | - | - | - | - | $32.31M | $32.55M | $32.47M | - |
| Income Tax | ($5.23M) | - | $10.60M | $35.89M | $850.0K | - | $8.07M | $7.25M | $6.61M | - |
| Net Income | ($16.04M) | - | $24.51M | $14.67M | ($7.21M) | - | $22.86M | $19.43M | ($2.13M) | - |
| EPS - Basic | ($0.12) | - | $0.17 | $0.10 | ($0.05) | - | $0.16 | $0.13 | ($0.02) | - |
| EPS - Diluted | ($0.12) | - | $0.16 | $0.10 | ($0.05) | - | $0.15 | $0.13 | ($0.02) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $47.96M | $106.14M | $80.36M | $68.63M | $53.65M | $109.75M | $100.18M | $69.83M | $79.57M | $77.13M |
| Accounts Receivable | $391.97M | $370.90M | $380.32M | $393.59M | $418.45M | $408.02M | $401.21M | $437.08M | $429.56M | $388.91M |
| Inventory | $159.27M | $151.25M | $149.09M | $148.85M | $129.29M | $139.84M | $133.49M | $123.90M | $108.58M | $113.64M |
| Accounts Payable | $431.95M | $352.38M | $341.45M | $339.65M | $294.33M | $284.60M | $266.48M | $279.56M | $226.42M | $211.50M |
| Current Assets | $687.48M | $728.90M | $724.82M | $658.00M | $745.17M | $755.79M | $683.79M | $686.43M | $655.98M | $649.02M |
| Total Assets | $4.42B | $4.32B | $4.38B | $4.35B | $4.44B | $4.49B | $4.47B | $4.51B | $4.50B | $4.51B |
| Current Liabilities | $743.29M | $712.39M | $670.70M | $622.09M | $576.73M | $566.99M | $553.02M | $596.02M | $492.69M | $537.00M |
| Long-term Debt | $1.80B | $1.72B | $1.74B | $1.79B | $1.94B | $1.96B | $2.01B | $2.04B | $2.16B | $2.09B |
| Total Liabilities | $2.91B | $2.79B | $2.76B | $2.76B | $2.86B | $2.91B | $2.95B | $3.02B | $3.03B | $3.04B |
| Stockholders' Equity | $1.51B | $1.52B | $1.62B | $1.59B | $1.57B | $1.57B | $1.52B | $1.49B | $1.46B | $1.46B |
| Retained Earnings | ($649.01M) | ($632.97M) | ($530.20M) | ($554.71M) | ($569.38M) | ($562.18M) | ($612.44M) | ($635.30M) | ($654.73M) | ($652.60M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $93.72M | - | - | - | $95.53M | - | - | - | $49.03M | - |
| Investing Cash Flow | ($204.46M) | - | - | - | ($95.58M) | - | - | - | ($87.89M) | - |
| Financing Cash Flow | $52.56M | - | - | - | ($56.04M) | - | - | - | $41.29M | - |
| CapEx | $121.21M | - | - | - | $95.58M | - | - | - | $87.89M | - |
| Free Cash Flow | ($27.49M) | - | - | - | ($58.0K) | - | - | - | ($38.86M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 13.6% | - | 19.7% | 19.3% | 15.5% | - | 15.4% | 15.8% | 14.7% | - |
| Operating margin | 0.7% | - | 7.5% | 9.9% | 3.0% | - | 7.9% | 6.5% | 6.4% | - |
| EBITDA margin | 13.7% | - | 18.8% | 20.8% | 15.1% | - | 18.5% | 17.1% | 18.1% | - |
| Net margin | -2.0% | - | 3.0% | 1.8% | -0.9% | - | 2.8% | 2.4% | -0.3% | - |
| Free cash flow margin | -3.4% | - | - | - | -0.0% | - | - | - | -4.9% | - |
| FCF / Net income | 1.71 | - | - | - | 0.01 | - | - | - | 18.21 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 11.7% | - | 11.0% | 12.2% | 11.2% | - | 6.1% | 7.1% | 6.1% | - |
| Effective tax rate | - | - | 30.2% | 71.0% | - | - | 26.1% | 27.2% | 147.7% | - |
| Return on assets | -0.4% | - | 0.6% | 0.3% | -0.2% | - | 0.5% | 0.4% | -0.0% | - |
| Return on equity | -1.1% | - | 1.5% | 0.9% | -0.5% | - | 1.5% | 1.3% | -0.1% | - |
| Return on invested capital | 0.1% | - | 1.3% | 1.2% | 0.5% | - | 1.3% | 1.1% | 0.7% | - |
| Liquidity | ||||||||||
| Current ratio | 0.92 | 1.02 | 1.08 | 1.06 | 1.29 | 1.33 | 1.24 | 1.15 | 1.33 | 1.21 |
| Quick ratio | 0.71 | 0.81 | 0.86 | 0.82 | 1.07 | 1.09 | 1.00 | 0.94 | 1.11 | 1.00 |
| Cash ratio | 0.06 | 0.15 | 0.12 | 0.11 | 0.09 | 0.19 | 0.18 | 0.12 | 0.16 | 0.14 |
| Leverage | ||||||||||
| Debt / Equity | 1.19 | 1.13 | 1.08 | 1.13 | 1.24 | 1.25 | 1.33 | 1.37 | 1.48 | 1.44 |
| Debt / Assets | 0.41 | 0.40 | 0.40 | 0.41 | 0.44 | 0.44 | 0.45 | 0.45 | 0.48 | 0.46 |
| Debt / EBITDA | 16.07 | - | 11.30 | 10.77 | 16.52 | - | 13.54 | 14.82 | 15.06 | - |
| Interest coverage | - | - | - | - | - | - | 2.0x | 1.6x | 1.6x | - |
| Equity multiplier | 2.94 | 2.84 | 2.71 | 2.74 | 2.83 | 2.86 | 2.95 | 3.04 | 3.08 | 3.09 |
| Liabilities / Assets | 0.66 | 0.65 | 0.63 | 0.63 | 0.65 | 0.65 | 0.66 | 0.67 | 0.67 | 0.67 |
| Efficiency | ||||||||||
| Asset turnover | 0.19 | - | 0.19 | 0.18 | 0.18 | - | 0.18 | 0.18 | 0.18 | - |
| Inventory turnover | 4.45 | - | 4.42 | 4.34 | 5.08 | - | 5.11 | 5.48 | 6.22 | - |
| Days sales outstanding | 175d | - | 169d | 179d | 196d | - | 182d | 198d | 198d | - |
| Days inventory outstanding | 82d | - | 83d | 84d | 72d | - | 71d | 67d | 59d | - |
| Days payable outstanding | 223d | - | 189d | 192d | 163d | - | 143d | 150d | 122d | - |
| Cash conversion cycle | 34d | - | 63d | 72d | 105d | - | 111d | 114d | 134d | - |
| Valuation | ||||||||||
| P / E | - | - | 55.9x | 94.3x | - | - | 74.9x | 76.9x | - | - |
| P / B | 1.1x | - | 0.8x | 0.8x | 0.9x | - | 1.0x | 0.9x | 1.0x | - |
| P / S | 2.0x | - | 1.5x | 1.6x | 1.9x | - | 1.9x | 1.7x | 1.9x | - |
| EV / EBITDA | 30.1x | - | 18.7x | 18.1x | 28.5x | - | 23.2x | 24.2x | 25.2x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 5.4% | - | 1.8% | -0.7% | -1.8% | - | 0.2% | 1.6% | 6.4% | - |
| Revenue CAGR (3y) | 3.3% | - | 2.7% | 3.2% | 3.3% | - | 7.2% | 9.3% | 18.0% | - |
| Revenue CAGR (5y) | 11.2% | - | 43.2% | 28.1% | 32.4% | - | - | - | - | - |
| Gross profit growth (YoY) | -7.4% | - | 30.6% | 21.8% | 3.1% | - | 12.2% | 5.9% | 30.9% | - |
| Operating income growth (YoY) | -76.3% | - | -2.8% | 52.3% | -54.1% | - | - | -4.1% | 93.0% | - |
| Net income growth (YoY) | -122.6% | - | 7.2% | -24.5% | -237.7% | - | - | 39.0% | - | - |
| EPS growth (YoY) | -140.0% | - | 6.7% | -23.1% | -150.0% | - | - | 44.4% | 66.7% | - |
| EPS CAGR (3y) | - | - | 13.3% | 3.6% | - | - | -9.1% | 2.7% | - | - |
| EPS CAGR (5y) | - | - | - | 4.6% | - | - | - | - | - | - |
| FCF growth (YoY) | -47296.6% | - | - | - | 99.9% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -3.9% | -3.3% | 6.6% | 6.8% | 7.3% | 7.7% | -12.5% | -31.9% | -32.3% | -32.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.03B totalSleep Health$1.04B · 51.2%
Diabetes Health$573.69M · 28.2%
Wellness At Home$383.44M · 18.9%
Respiratory Health$33.49M · 1.6%
Peer comparison
Same SIC group: Services-Home Health Care Services
Comparing AdaptHealth Corp. against the 5 most active filers in the same SIC group.