CHNG · Change Healthcare Inc. - 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 '23 | Q1 '22 | Q3 '22 | Q2 '22 | Q1 '21 | Q3 '21 | Q2 '21 | Q1 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $884.47M | $867.86M | $866.07M | $826.76M | $694.18M | $785.14M | $755.94M | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $74.20M | $71.24M | $67.31M | $67.07M | $55.73M | $58.32M | $54.05M | - | - | - |
| SG&A | $197.89M | $177.96M | $187.28M | $183.04M | $251.0K | $1.11M | $171.61M | $251.0K | $126.0K | $31.0K |
| Total Operating Expenses | $857.22M | $823.71M | $837.36M | $815.63M | $701.86M | $722.41M | $752.59M | $31.0K | $126.0K | $49.50M |
| D&A | $171.72M | $168.21M | $170.78M | $163.47M | $138.54M | $151.14M | $146.87M | - | - | - |
| Operating Income | $27.25M | $44.14M | $28.71M | $11.13M | ($7.68M) | $62.73M | $3.35M | ($31.0K) | $76.0K | ($31.0K) |
| Interest Expense | $56.87M | $59.39M | $58.43M | $59.47M | $62.67M | $61.44M | $61.63M | - | $602.0K | $644.0K |
| Income Tax | ($9.31M) | ($8.45M) | ($10.12M) | ($16.75M) | ($13.46M) | ($4.56M) | ($13.39M) | ($2.18M) | $15.24M | ($13.62M) |
| Net Income | ($23.17M) | ($3.60M) | ($24.47M) | ($36.40M) | ($58.69M) | $2.20M | ($42.62M) | ($37.52M) | $50.73M | ($93.94M) |
| EPS - Basic | ($0.07) | - | ($0.08) | - | - | $0.01 | - | ($0.23) | ($0.16) | ($0.66) |
| EPS - Diluted | ($0.07) | - | ($0.08) | - | - | $0.01 | - | ($0.50) | ($0.16) | ($0.66) |
Balance Sheet
| Line item | Q1 '23 | Q1 '22 | Q3 '22 | Q2 '22 | Q1 '21 | Q3 '21 | Q2 '21 | Q1 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $94.01M | $252.30M | $96.01M | $80.41M | $113.10M | $137.36M | $167.48M | $410.40M | $3.41M | $3.41M |
| Accounts Receivable | $717.68M | $720.12M | $781.53M | $704.60M | $732.61M | $697.95M | $626.99M | $740.11M | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $85.21M | $104.27M | $87.48M | $64.76M | $57.45M | $59.66M | $47.35M | $68.17M | - | - |
| Current Assets | $1.15B | $1.31B | $1.15B | $1.06B | $1.12B | $1.09B | $1.06B | $1.40B | $25.32M | $23.82M |
| Total Assets | $9.64B | $9.93B | $9.85B | $9.85B | $10.11B | $10.15B | $10.21B | $10.11B | $2.22B | $2.14B |
| Current Liabilities | $932.80M | $1.08B | $1.04B | $965.03M | $1.05B | $1.04B | $893.59M | $1.06B | $25.43M | $25.12M |
| Long-term Debt | $4.49B | $4.58B | $4.57B | $4.64B | $4.73B | $4.78B | $4.98B | $4.71B | $23.66M | $27.38M |
| Total Liabilities | $6.35B | $6.66B | $6.60B | $6.61B | $6.86B | $6.91B | $7.00B | $6.82B | - | - |
| Stockholders' Equity | $3.29B | $3.28B | $3.25B | $3.24B | $3.25B | $3.23B | $3.21B | $3.29B | $1.13B | $1.89B |
| Retained Earnings | ($1.12B) | ($1.10B) | ($1.11B) | ($1.08B) | ($1.04B) | ($1.03B) | ($1.03B) | ($930.06M) | ($63.18M) | ($113.92M) |
Cash Flow
| Line item | Q1 '23 | Q1 '22 | Q3 '22 | Q2 '22 | Q1 '21 | Q3 '21 | Q2 '21 | Q1 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $83.31M | $110.11M | - | - | $169.10M | - | - | - | - | - |
| Investing Cash Flow | ($79.53M) | ($67.01M) | - | - | ($435.83M) | - | - | $4.78M | - | - |
| Financing Cash Flow | ($160.65M) | ($47.57M) | - | - | $33.73M | - | - | ($4.78M) | - | - |
| CapEx | $79.53M | $66.01M | - | - | $66.77M | - | - | - | - | - |
| Free Cash Flow | $3.78M | $44.10M | - | - | $102.33M | - | - | - | - | - |
Ratios
| Metric | Q1 '23 | Q1 '22 | Q3 '22 | Q2 '22 | Q1 '21 | Q3 '21 | Q2 '21 | Q1 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 3.1% | 5.1% | 3.3% | 1.3% | -1.1% | 8.0% | 0.4% | - | - | - |
| EBITDA margin | 22.5% | 24.5% | 23.0% | 21.1% | 18.9% | 27.2% | 19.9% | - | - | - |
| Net margin | -2.6% | -0.4% | -2.8% | -4.4% | -8.5% | 0.3% | -5.6% | - | - | - |
| Free cash flow margin | 0.4% | 5.1% | - | - | 14.7% | - | - | - | - | - |
| FCF / Net income | -0.16 | -12.23 | - | - | -1.74 | - | - | - | - | - |
| R&D / Revenue | 8.4% | 8.2% | 7.8% | 8.1% | 8.0% | 7.4% | 7.2% | - | - | - |
| SG&A / Revenue | 22.4% | 20.5% | 21.6% | 22.1% | 0.0% | 0.1% | 22.7% | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | 23.1% | - |
| Return on assets | -0.2% | -0.0% | -0.2% | -0.4% | -0.6% | 0.0% | -0.4% | -0.4% | 2.3% | -4.4% |
| Return on equity | -0.7% | -0.1% | -0.8% | -1.1% | -1.8% | 0.1% | -1.3% | -1.1% | 4.5% | -5.0% |
| Return on invested capital | 0.3% | 0.4% | 0.3% | 0.1% | -0.1% | 0.6% | 0.0% | -0.0% | 0.0% | -0.0% |
| Liquidity | ||||||||||
| Current ratio | 1.23 | 1.22 | 1.11 | 1.10 | 1.07 | 1.05 | 1.18 | 1.32 | 1.00 | 0.95 |
| Quick ratio | 1.23 | 1.22 | 1.11 | 1.10 | 1.07 | 1.05 | 1.18 | 1.32 | 1.00 | 0.95 |
| Cash ratio | 0.10 | 0.23 | 0.09 | 0.08 | 0.11 | 0.13 | 0.19 | 0.39 | 0.13 | 0.14 |
| Leverage | ||||||||||
| Debt / Equity | 1.36 | 1.40 | 1.41 | 1.43 | 1.46 | 1.48 | 1.55 | 1.43 | 0.02 | 0.01 |
| Debt / Assets | 0.47 | 0.46 | 0.46 | 0.47 | 0.47 | 0.47 | 0.49 | 0.47 | 0.01 | 0.01 |
| Debt / EBITDA | 22.55 | 21.57 | 22.92 | 26.59 | 36.18 | 22.35 | 33.18 | - | - | - |
| Interest coverage | 0.5x | 0.7x | 0.5x | 0.2x | -0.1x | 1.0x | 0.1x | - | 0.1x | -0.0x |
| Equity multiplier | 2.93 | 3.03 | 3.03 | 3.04 | 3.11 | 3.14 | 3.18 | 3.08 | 1.97 | 1.14 |
| Liabilities / Assets | 0.66 | 0.67 | 0.67 | 0.67 | 0.68 | 0.68 | 0.69 | 0.67 | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.09 | 0.09 | 0.09 | 0.08 | 0.07 | 0.08 | 0.07 | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 296d | 303d | 329d | 311d | 385d | 324d | 303d | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 1.9% | 25.0% | 10.3% | 9.4% | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -38.3% | - | -54.2% | 232.8% | -24671.0% | 82435.5% | - | - | - | - |
| Net income growth (YoY) | -542.7% | 93.9% | - | 14.6% | -56.4% | -95.7% | 54.6% | - | - | - |
| EPS growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -91.4% | -56.9% | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 0.5% | 0.7% | 0.4% | 1.1% | -1.0% | 186.4% | 70.2% | - | - | - |
Peer comparison
Same SIC group: Services-Computer Processing & Data Preparation
Comparing Change Healthcare Inc. against the 5 most active filers in the same SIC group.