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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

AHCO gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 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. A decent growth rate in combination with a cheap valuation! Better keep an eye on AHCO.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

In the past year AHCO was profitable.
In the past year AHCO had a positive cash flow from operations.
In multiple years AHCO reported negative net income over the last 5 years.
Each year in the past 5 years AHCO had a positive operating cash flow.
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's Return On Assets of 1.66% is in line compared 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 (4.66%) which is comparable to the rest of the industry.
AHCO had an Average Return On Invested Capital over the past 3 years of 4.25%. This 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

Looking at the Profit Margin, with a value of 2.29%, AHCO is in the better half of the industry, outperforming 63.37% of the companies in the same industry.
AHCO's Profit Margin has declined in the last couple of years.
AHCO's Operating Margin of 8.10% is fine compared to the rest of the industry. AHCO outperforms 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.
In the last couple of years the Gross Margin of AHCO has grown nicely.
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

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AHCO is destroying value.
The number of shares outstanding for AHCO has been increased compared to 1 year ago.
The number of shares outstanding for AHCO has been increased compared to 5 years ago.
AHCO has a better debt/assets ratio than last year.
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

Based on the Altman-Z score of 1.06, we must say that AHCO is in the distress zone and has some risk of bankruptcy.
AHCO has a Altman-Z score of 1.06. This is in the lower half of the industry: AHCO underperforms 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 comparable to the rest of the industry.
A Debt/Equity ratio of 1.27 is on the high side and indicates that AHCO has dependencies on debt financing.
With a Debt to Equity ratio value of 1.27, AHCO is not doing good in the industry: 65.35% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 8.74
Altman-Z 1.06
ROIC/WACC0.62
WACC7.52%
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.
Looking at the Current ratio, with a value of 1.33, AHCO is in line with its industry, outperforming 43.56% of the companies in the same industry.
A Quick Ratio of 1.09 indicates that AHCO should not have too much problems paying 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

The Earnings Per Share has grown by an impressive 122.46% over the past year.
AHCO shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.23% yearly.
The Revenue for AHCO has decreased by -20.04% in the past year. This is quite bad
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.
The Revenue is expected to grow by 7.27% on average over the next years.
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

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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

AHCO is valuated quite expensively with a Price/Earnings ratio of 31.06.
AHCO's Price/Earnings ratio is in line with the industry average.
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.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AHCO indicates a rather cheap valuation: AHCO is cheaper than 95.05% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of AHCO to the average of the S&P500 Index (23.23), we can say AHCO is valued rather cheaply.
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

AHCO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. AHCO is cheaper than 92.08% of the companies in the same industry.
97.03% of the companies in the same industry are more expensive than AHCO, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 5.64
EV/EBITDA 5.1
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.
AHCO's earnings are expected to grow with 31.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.88
PEG (5Y)N/A
EPS Next 2Y38.6%
EPS Next 3Y31.58%

0

5. Dividend

5.1 Amount

No dividends for AHCO!.
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
Revenue(TTM)3.24B
Net Income(TTM)74.29M
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 5.1
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
Graham Number9
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%
ROICexgc growth 3Y0.25%
ROICexgc 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 1.06
F-Score7
WACC7.52%
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%