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Stocks · Health care · Services-Home Health Care Services

AdaptHealth Corp.

AHCO Clue Score51
United States Fiscal year ends December CIK 0001725255
$6.06 -0.08% Close, 9 Oct 2026
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Price $6.06 −73.95% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 24 May 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue345.3Operating income31.1Net income23.3Fiscal year 2019Revenue529.6 +53.4%Operating income29.4Net income−21.3 −191.7%EPS, diluted−0.95Fiscal year 2020Revenue1,056.4 +99.5%Operating income71.3Net income−161.6EPS, diluted−3.08Fiscal year 2021Revenue2,454.5 +132.4%Operating income225.6Net income156.2EPS, diluted0.67Fiscal year 2022Revenue2,970.6 +21.0%Operating income190.4Net income69.3 −55.6%EPS, diluted0.33Fiscal year 2023Revenue3,200.2 +7.7%Operating income−598.4Net income−678.9 −1,079.4%EPS, diluted−5.31Fiscal year 2024Revenue3,261.0 +1.9%Operating income263.7Net income90.4EPS, diluted0.61Fiscal year 2025Revenue3,244.9 −0.5%Operating income90.9Net income−70.8 −178.3%EPS, diluted−0.52
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 345.3 529.6 1,056.4 2,454.5 2,970.6 3,200.2 3,261.0 3,244.9
Growth +53.4% +99.5% +132.4% +21.0% +7.7% +1.9% −0.5%
Operating income 31.1 29.4 71.3 225.6 190.4 −598.4 263.7 90.9
Net income 23.3 −21.3 −161.6 156.2 69.3 −678.9 90.4 −70.8
Growth −191.7% −55.6% −1,079.4% −178.3%
EPS, diluted n/a −0.95 −3.08 0.67 0.33 −5.31 0.61 −0.52

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2018Operating margin9.0%Net margin6.7%Free cash flow margin16.9%Fiscal year 2019Operating margin5.5%Net margin−4.0%Free cash flow margin7.4%Fiscal year 2020Operating margin6.8%Net margin−15.3%Free cash flow margin14.8%Fiscal year 2021Operating margin9.2%Net margin6.4%Free cash flow margin2.9%Fiscal year 2022Operating margin6.4%Net margin2.3%Free cash flow margin−0.6%Fiscal year 2023Operating margin−18.7%Net margin−21.2%Free cash flow margin4.5%Fiscal year 2024Operating margin8.1%Net margin2.8%Free cash flow margin7.2%Fiscal year 2025Operating margin2.8%Net margin−2.2%Free cash flow margin6.8%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 9.0% 5.5% 6.8% 9.2% 6.4% −18.7% 8.1% 2.8%
Net margin 6.7% −4.0% −15.3% 6.4% 2.3% −21.2% 2.8% −2.2%
Free cash flow margin 16.9% 7.4% 14.8% 2.9% −0.6% 4.5% 7.2% 6.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow68.4Capital expenditure−9.9Free cash flow58.5Fiscal year 2019Operating cash flow60.4Capital expenditure−21.3Free cash flow39.1 −33.2%Buybacks−20.0Fiscal year 2020Operating cash flow195.6Capital expenditure−39.8Free cash flow155.9 +298.8%Buybacks0.0Fiscal year 2021Operating cash flow275.7Capital expenditure−203.3Free cash flow72.4 −53.6%Buybacks0.0Fiscal year 2022Operating cash flow373.9Capital expenditure−391.4Free cash flow−17.6 −124.3%Buybacks−14.0Fiscal year 2023Operating cash flow480.7Capital expenditure−337.5Free cash flow143.2Buybacks−29.3Fiscal year 2024Operating cash flow541.8Capital expenditure−306.1Free cash flow235.8 +64.7%Buybacks0.0Fiscal year 2025Operating cash flow601.8Capital expenditure−382.4Free cash flow219.4 −7.0%Buybacks0.0
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 68.4 60.4 195.6 275.7 373.9 480.7 541.8 601.8
Capital expenditure −9.9 −21.3 −39.8 −203.3 −391.4 −337.5 −306.1 −382.4
Free cash flow 58.5 39.1 155.9 72.4 −17.6 143.2 235.8 219.4
Growth −33.2% +298.8% −53.6% −124.3% +64.7% −7.0%
Buybacks n/a −20.0 0.0 0.0 −14.0 −29.3 0.0 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash0.9Total debt134.2Net cash (debt)−133.2Shareholders’ equity5.0Debt to equity26.84Fiscal year 2019Cash76.9Total debt396.8Net cash (debt)−320.0Shareholders’ equity−38.8Fiscal year 2020Cash100.0Total debt784.7Net cash (debt)−684.8Shareholders’ equity354.9Debt to equity2.21Fiscal year 2021Cash149.6Total debt2,203.6Net cash (debt)−2,053.9Shareholders’ equity2,061.9Debt to equity1.07Fiscal year 2022Cash46.3Total debt2,188.3Net cash (debt)−2,142.0Shareholders’ equity2,151.2Debt to equity1.02Fiscal year 2023Cash77.1Total debt2,148.0Net cash (debt)−2,070.9Shareholders’ equity1,458.5Debt to equity1.47Fiscal year 2024Cash109.7Total debt1,981.2Net cash (debt)−1,871.4Shareholders’ equity1,571.1Debt to equity1.26Fiscal year 2025Cash106.1Total debt1,736.3Net cash (debt)−1,630.2Shareholders’ equity1,518.6Debt to equity1.14
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.9 76.9 100.0 149.6 46.3 77.1 109.7 106.1
Total debt 134.2 396.8 784.7 2,203.6 2,188.3 2,148.0 1,981.2 1,736.3
Net cash (debt) −133.2 −320.0 −684.8 −2,053.9 −2,142.0 −2,070.9 −1,871.4 −1,630.2
Shareholders’ equity 5.0 −38.8 354.9 2,061.9 2,151.2 1,458.5 1,571.1 1,518.6
Debt to equity 26.84 n/a 2.21 1.07 1.02 1.47 1.26 1.14

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
9.0% 5.5% 6.8% 9.2% 6.4% −18.7% 8.1% 2.8%
6.4% −4.1% −19.5% 7.8% 3.3% −22.6% 4.2% −0.5%
6.7% −4.0% −15.3% 6.4% 2.3% −21.2% 2.8% −2.2%
16.9% 7.4% 14.8% 2.9% −0.6% 4.5% 7.2% 6.8%
Spending
5.2% 10.7% 8.5% 6.8% 10.9% 10.5% 11.0% 11.8%
2.9% 4.0% 3.8% 8.3% 13.2% 10.5% 9.4% 11.8%
−9.4% n/a n/a 17.2% 25.3% n/a 30.3% n/a
Returns
465.2% n/a −45.5% 7.6% 3.2% −46.5% 5.8% −4.7%
6.3% −3.9% −8.9% 3.0% 1.3% −15.1% 2.0% −1.6%
Balance and payout
26.84 n/a 2.21 1.07 1.02 1.47 1.26 1.14
72.1% 112.0% 84.5% 60.6% 58.7% 67.5% 64.8% 64.6%
n/a 51.2% 0.0% 0.0% n/a 20.4% 0.0% 0.0%