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AdaptHealth Corp.

AHCO

$5.68 ▼ -0.37 (-6.12%) at close

9 Visible periods

32 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

AdaptHealth Corp. faces fundamental challenges with weakness in Debt to Equity. The fundamentals warrant careful consideration of downside risks.

Market Cap $767.6M

Dividend Yield —

Revenue Growth -0.5% ↘

Op. Margin 2.8% ↘

ROIC 12.2% ↗

FCF / Share $1.62 ↘

Trailing P/E —

Price / Book 0.5x

FCF Yield 28.6%

Debt / Equity 1.14

info Valuation on last close. End-of-day price, Aug 7, 2026.

9-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$3.24B

— -0.5% —

Net Income Profit after all expenses

$-70.79M

↓ -178.3% —

Operating Margin Operating profit as % of sales

2.8%

↓ -65.4% 36th

FCF / Share Free cash flow per share

$1.62

↓ -7.9% —

Long-Term Debt Long-term obligations

$1.74B

↓ -12.4% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Debt to EquityDebt to Equity is concerning (bottom quartile)

Health Breakdown

Profitability →

Returns

Financial Health →

Cash Quality

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗
Revenue Growth YoY (%)	-0.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-106%)	1.9% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-76%)	7.7% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	21.0% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+163%)	132.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1554%)	99.5% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1143%)	53.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+567%)	—	—
EPS Growth YoY (%)	N/M	N/M	N/M	-58.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—	—
Net Income Growth YoY (%)	N/M	N/M	N/M	-55.6% Weak Weak Year-over-year change in net income	N/M	-847.3% Weak Weak Year-over-year change in net income	N/M	—	—
FCF Growth YoY (%)	-7.9% Weak Weak Year-over-year change in free cash flow	65.1% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	-80.7% Weak Weak Year-over-year change in free cash flow	—	—	—	—
Revenue CAGR 3Y (%)	3.0% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	9.9% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	44.7% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	77.7% Excellent Excellent Compound annual revenue growth over 3 years	92.3% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	25.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	43.8% Excellent Excellent Compound annual revenue growth over 5 years	56.1% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	-17.9% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗
Operating Margin (%) (%)	2.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-81%)	8.1% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-46%)	-18.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-225%)	6.4% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-57%)	9.2% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-39%)	6.8% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	5.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-63%)	9.0% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-40%)	—
Effective Tax Rate (%) (%)	-335.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	30.3% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	6.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	25.3% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	17.2% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	5.8% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-5.2% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-9.4% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	-2.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-118%)	2.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-77%)	-21.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-277%)	2.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-81%)	6.4% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-47%)	-15.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-228%)	-3.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-127%)	6.7% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-44%)	—
FCF Margin (%) (%)	6.8% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	7.2% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	4.5% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-0.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.9% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	14.8% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	7.4% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	16.9% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-3.10x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.61x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-0.21x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.25x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.46x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.96x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-2.29x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	2.51x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗
Return on Invested Capital (%)	12.2% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	5.2% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	-15.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	3.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	4.4% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.9% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.3% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	25.4% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	2.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	5.9% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	-13.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	3.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	4.3% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	3.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	5.4% Caution Caution Operating profit relative to total assets Optimal: > 10%	8.4% Fair Fair Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	-4.7% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-131%)	5.8% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-62%)	-46.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-410%)	3.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-79%)	7.6% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-50%)	-45.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-404%)	72.9% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+386%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗
Debt to Equity (x)	1.14x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+91%)	1.26x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+110%)	1.47x Caution → Caution Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+145%)	1.02x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+70%)	1.07x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+78%)	2.21x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+269%)	-16.94x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-2924%)	—	—
Interest Coverage (x)	0.88x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	2.11x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-4.59x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	1.74x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	2.37x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1.72x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	0.75x Weak Weak Operating income divided by interest expense Optimal: > 5x	4.17x Fair Fair Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$1.74B	$1.98B	$2.15B	$2.19B	$2.20B	$784.71M	$396.83M	$134.18M	$-119.82K
Debt / EBITDA (x)	3.67x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.15x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-9.96x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.04x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.56x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.10x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.32x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.70x Good Good Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗
Revenue per Share (USD)	$24.01	$24.38	$23.85	$22.14	$19.43	$20.13	—	—	—
Basic EPS, GAAP (USD)	$-0.52	$0.62	$-5.06	$0.47	$1.12	$-3.08	—	—	—
Free Cash Flow per Share (USD)	$1.62	$1.76	$1.07	$-0.13	$0.57	$2.97	—	—	—
Book Value per Share (USD)	$11.21	$11.67	$11.00	$16.00	$15.41	$6.76	—	—	$0.00
Tangible Book Value per Share (USD)	$-8.18	$-8.99	$-10.53	$-11.58	$-12.35	$-14.48	—	—	$0.00
Basic Weighted Avg Shares (shares)	135.15M	133.76M	134.16M	134.18M	126.31M	52.49M	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗
Working Capital (USD)	$16.51M	$188.80M	$112.02M	$129.09M	$170.25M	$-58.80M	$27.36M	$-44.89M	$-166.49K
LT Debt (USD)	$1.74B	$1.98B	$2.15B	$2.19B	$2.20B	$784.71M	$396.83M	$134.18M	—
Total Equity (USD)	$1.52B	$1.57B	$1.46B	$2.15B	$2.06B	$354.89M	$-23.42M	—	$0.00

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗
Sales/Revenue/Turnover (USD)	$3.24B	$3.26B	$3.20B	$2.97B	$2.45B	$1.06B	$529.64M	$345.28M	—
Depreciation Expense (USD)	$381.93M	$365.33M	$382.78M	$351.18M	$258.05M	$82.44M	$62.57M	$47.88M	—
Net Income, GAAP (USD)	$-70.79M	$90.42M	$-678.89M	$69.32M	$156.18M	$-161.63M	$-17.06M	$23.26M	—
Operating Cash Flow (USD)	$601.77M	$541.84M	$480.67M	$373.87M	$275.68M	$195.63M	$60.42M	$68.43M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 9 years · 35 quarters

AdaptHealth Corp.

Analytical Summary

9-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

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Signals

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