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ADAPTHEALTH CORP (AHCO) Stock Fundamental Analysis

USA - NASDAQ:AHCO - US00653Q1022 - Common Stock

9.63 USD
+0.16 (+1.69%)
Last: 10/21/2025, 8:00:00 PM
9.63 USD
0 (0%)
After Hours: 10/21/2025, 8:00:00 PM
Fundamental Rating

5

Taking everything into account, AHCO scores 5 out of 10 in our fundamental rating. AHCO was compared to 101 industry peers in the Health Care Providers & Services industry. While AHCO is still in line with the averages on profitability rating, there are concerns on its financial health. AHCO scores decently on growth, while it is valued quite cheap. This could make an interesting combination.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

AHCO had positive earnings in the past year.
AHCO had a positive operating cash flow in the past year.
In multiple years AHCO reported negative net income over the last 5 years.
In the past 5 years AHCO always reported a positive cash flow from operatings.
AHCO Yearly Net Income VS EBIT VS OCF VS FCFAHCO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M -600M

1.2 Ratios

AHCO has a Return On Assets of 1.66%. This is comparable to the rest of the industry: AHCO outperforms 54.46% of its industry peers.
With a decent Return On Equity value of 4.73%, AHCO is doing good in the industry, outperforming 61.39% of the companies in the same industry.
AHCO has a Return On Invested Capital of 4.66%. This is comparable to the rest of the industry: AHCO outperforms 55.45% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for AHCO is significantly below the industry average of 9.33%.
The last Return On Invested Capital (4.66%) for AHCO is above the 3 year average (4.25%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 1.66%
ROE 4.73%
ROIC 4.66%
ROA(3y)-4%
ROA(5y)-3.64%
ROE(3y)-12.78%
ROE(5y)-15.4%
ROIC(3y)4.25%
ROIC(5y)3.76%
AHCO Yearly ROA, ROE, ROICAHCO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40

1.3 Margins

With a decent Profit Margin value of 2.29%, AHCO is doing good in the industry, outperforming 63.37% of the companies in the same industry.
In the last couple of years the Profit Margin of AHCO has declined.
The Operating Margin of AHCO (8.10%) is better than 74.26% of its industry peers.
In the last couple of years the Operating Margin of AHCO has grown nicely.
AHCO's Gross Margin of 24.25% is in line compared to the rest of the industry. AHCO outperforms 49.51% of its industry peers.
AHCO's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 8.1%
PM (TTM) 2.29%
GM 24.25%
OM growth 3Y1.95%
OM growth 5Y11.03%
PM growth 3Y-23.99%
PM growth 5YN/A
GM growth 3Y4.28%
GM growth 5Y4.45%
AHCO Yearly Profit, Operating, Gross MarginsAHCO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 -20

2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AHCO is destroying value.
Compared to 1 year ago, AHCO has more shares outstanding
AHCO has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, AHCO has an improved debt to assets ratio.
AHCO Yearly Shares OutstandingAHCO Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
AHCO Yearly Total Debt VS Total AssetsAHCO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.2 Solvency

AHCO has an Altman-Z score of 1.05. This is a bad value and indicates that AHCO is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of AHCO (1.05) is worse than 71.29% of its industry peers.
The Debt to FCF ratio of AHCO is 8.74, which is on the high side as it means it would take AHCO, 8.74 years of fcf income to pay off all of its debts.
AHCO has a Debt to FCF ratio (8.74) which is in line with its industry peers.
A Debt/Equity ratio of 1.27 is on the high side and indicates that AHCO has dependencies on debt financing.
AHCO's Debt to Equity ratio of 1.27 is on the low side compared to the rest of the industry. AHCO is outperformed by 65.35% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 8.74
Altman-Z 1.05
ROIC/WACC0.62
WACC7.51%
AHCO Yearly LT Debt VS Equity VS FCFAHCO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

A Current Ratio of 1.33 indicates that AHCO should not have too much problems paying its short term obligations.
AHCO has a Current ratio (1.33) which is in line with its industry peers.
AHCO has a Quick Ratio of 1.09. This is a normal value and indicates that AHCO is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.09, AHCO is not doing good in the industry: 62.38% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 1.33
Quick Ratio 1.09
AHCO Yearly Current Assets VS Current LiabilitesAHCO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

6

3. Growth

3.1 Past

AHCO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 122.46%, which is quite impressive.
AHCO shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.23% yearly.
Looking at the last year, AHCO shows a very negative growth in Revenue. The Revenue has decreased by -20.04% in the last year.
AHCO shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 43.84% yearly.
EPS 1Y (TTM)122.46%
EPS 3Y10.23%
EPS 5YN/A
EPS Q2Q%-200%
Revenue 1Y (TTM)-20.04%
Revenue growth 3Y9.93%
Revenue growth 5Y43.84%
Sales Q2Q%-0.7%

3.2 Future

AHCO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 26.56% yearly.
Based on estimates for the next years, AHCO will show a small growth in Revenue. The Revenue will grow by 7.27% on average per year.
EPS Next Y35.15%
EPS Next 2Y38.6%
EPS Next 3Y31.58%
EPS Next 5Y26.56%
Revenue Next Year-0.24%
Revenue Next 2Y3.24%
Revenue Next 3Y5.58%
Revenue Next 5Y7.27%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
AHCO Yearly Revenue VS EstimatesAHCO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B 4B
AHCO Yearly EPS VS EstimatesAHCO Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 -1 2 -2

7

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 31.06, the valuation of AHCO can be described as expensive.
The rest of the industry has a similar Price/Earnings ratio as AHCO.
The average S&P500 Price/Earnings ratio is at 27.77. AHCO is around the same levels.
AHCO is valuated reasonably with a Price/Forward Earnings ratio of 8.36.
Based on the Price/Forward Earnings ratio, AHCO is valued cheaper than 96.04% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.23. AHCO is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 31.06
Fwd PE 8.36
AHCO Price Earnings VS Forward Price EarningsAHCO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AHCO indicates a rather cheap valuation: AHCO is cheaper than 92.08% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, AHCO is valued cheaply inside the industry as 97.03% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 5.64
EV/EBITDA 5.06
AHCO Per share dataAHCO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of AHCO may justify a higher PE ratio.
A more expensive valuation may be justified as AHCO's earnings are expected to grow with 31.58% in the coming years.
PEG (NY)0.88
PEG (5Y)N/A
EPS Next 2Y38.6%
EPS Next 3Y31.58%

0

5. Dividend

5.1 Amount

AHCO does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

ADAPTHEALTH CORP

NASDAQ:AHCO (10/21/2025, 8:00:00 PM)

After market: 9.63 0 (0%)

9.63

+0.16 (+1.69%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)08-05 2025-08-05/bmo
Earnings (Next)11-04 2025-11-04/bmo
Inst Owners93.9%
Inst Owner Change-0.28%
Ins Owners1.82%
Ins Owner Change1.38%
Market Cap1.30B
Analysts81.43
Price Target13.39 (39.04%)
Short Float %9.53%
Short Ratio9.7
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-768.16%
Min EPS beat(2)-1325.49%
Max EPS beat(2)-210.83%
EPS beat(4)1
Avg EPS beat(4)-378.06%
Min EPS beat(4)-1325.49%
Max EPS beat(4)35.5%
EPS beat(8)2
Avg EPS beat(8)-338.41%
EPS beat(12)3
Avg EPS beat(12)-237.75%
EPS beat(16)3
Avg EPS beat(16)-191.06%
Revenue beat(2)0
Avg Revenue beat(2)-1.33%
Min Revenue beat(2)-2.38%
Max Revenue beat(2)-0.28%
Revenue beat(4)1
Avg Revenue beat(4)-0.94%
Min Revenue beat(4)-2.38%
Max Revenue beat(4)1.28%
Revenue beat(8)3
Avg Revenue beat(8)-0.44%
Revenue beat(12)5
Avg Revenue beat(12)-0.65%
Revenue beat(16)7
Avg Revenue beat(16)-0.18%
PT rev (1m)0%
PT rev (3m)1.94%
EPS NQ rev (1m)-7.18%
EPS NQ rev (3m)-25.38%
EPS NY rev (1m)-15.72%
EPS NY rev (3m)4.15%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.03%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.72%
Valuation
Industry RankSector Rank
PE 31.06
Fwd PE 8.36
P/S 0.4
P/FCF 5.64
P/OCF 2.36
P/B 0.83
P/tB N/A
EV/EBITDA 5.06
EPS(TTM)0.31
EY3.22%
EPS(NY)1.15
Fwd EY11.97%
FCF(TTM)1.71
FCFY17.74%
OCF(TTM)4.08
OCFY42.39%
SpS23.95
BVpS11.61
TBVpS-8.94
PEG (NY)0.88
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.66%
ROE 4.73%
ROCE 6.69%
ROIC 4.66%
ROICexc 4.8%
ROICexgc 17.76%
OM 8.1%
PM (TTM) 2.29%
GM 24.25%
FCFM 7.13%
ROA(3y)-4%
ROA(5y)-3.64%
ROE(3y)-12.78%
ROE(5y)-15.4%
ROIC(3y)4.25%
ROIC(5y)3.76%
ROICexc(3y)4.34%
ROICexc(5y)3.9%
ROICexgc(3y)17.05%
ROICexgc(5y)18.83%
ROCE(3y)6.1%
ROCE(5y)5.39%
ROICexcg growth 3Y0.25%
ROICexcg growth 5Y-13.24%
ROICexc growth 3Y18.04%
ROICexc growth 5Y-2.96%
OM growth 3Y1.95%
OM growth 5Y11.03%
PM growth 3Y-23.99%
PM growth 5YN/A
GM growth 3Y4.28%
GM growth 5Y4.45%
F-Score7
Asset Turnover0.72
Health
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 8.74
Debt/EBITDA 3.16
Cap/Depr 87.27%
Cap/Sales 9.91%
Interest Coverage 2.35
Cash Conversion 87.62%
Profit Quality 311.22%
Current Ratio 1.33
Quick Ratio 1.09
Altman-Z 1.05
F-Score7
WACC7.51%
ROIC/WACC0.62
Cap/Depr(3y)94.46%
Cap/Depr(5y)82.09%
Cap/Sales(3y)11.04%
Cap/Sales(5y)9.03%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)122.46%
EPS 3Y10.23%
EPS 5YN/A
EPS Q2Q%-200%
EPS Next Y35.15%
EPS Next 2Y38.6%
EPS Next 3Y31.58%
EPS Next 5Y26.56%
Revenue 1Y (TTM)-20.04%
Revenue growth 3Y9.93%
Revenue growth 5Y43.84%
Sales Q2Q%-0.7%
Revenue Next Year-0.24%
Revenue Next 2Y3.24%
Revenue Next 3Y5.58%
Revenue Next 5Y7.27%
EBIT growth 1Y-23.13%
EBIT growth 3Y12.08%
EBIT growth 5Y59.71%
EBIT Next Year170.35%
EBIT Next 3Y49.37%
EBIT Next 5YN/A
FCF growth 1Y960.55%
FCF growth 3Y48.23%
FCF growth 5Y43.24%
OCF growth 1Y28.27%
OCF growth 3Y25.26%
OCF growth 5Y55.08%