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ADAPTHEALTH CORP (AHCO) Stock Fundamental Analysis

NASDAQ:AHCO - Nasdaq - US00653Q1022 - Common Stock - Currency: USD

8.99  -0.07 (-0.77%)

Fundamental Rating

5

Overall AHCO gets a fundamental rating of 5 out of 10. We evaluated AHCO against 102 industry peers in the Health Care Providers & Services industry. There are concerns on the financial health of AHCO while its profitability can be described as average. An interesting combination arises when we look at growth and value: AHCO is growing strongly while it also seems undervalued.


Dividend Valuation Growth Profitability Health

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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.
The reported net income has been mixed in the past 5 years: AHCO reported negative net income in multiple years.
AHCO had a positive operating cash flow in each of the past 5 years.
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 (1.80%) which is in line with its industry peers.
The Return On Equity of AHCO (5.14%) is better than 60.78% of its industry peers.
AHCO has a Return On Invested Capital of 6.50%. This is in the better half of the industry: AHCO outperforms 67.65% 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 9.53%.
The 3 year average ROIC (4.25%) for AHCO is below the current ROIC(6.50%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.8%
ROE 5.14%
ROIC 6.5%
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 1.99%, AHCO is in line with its industry, outperforming 59.80% of the companies in the same industry.
In the last couple of years the Profit Margin of AHCO has declined.
AHCO has a Operating Margin of 9.03%. This is in the better half of the industry: AHCO outperforms 78.43% of its industry peers.
AHCO's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 21.92%, AHCO is in line with its industry, outperforming 45.10% of the companies in the same industry.
AHCO's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 9.03%
PM (TTM) 1.99%
GM 21.92%
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

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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.
The debt/assets ratio for AHCO has been reduced compared to a year ago.
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 1.30. This is a bad value and indicates that AHCO is not financially healthy and even has some risk of bankruptcy.
AHCO has a worse Altman-Z score (1.30) than 65.69% of its industry peers.
AHCO has a debt to FCF ratio of 8.57. This is a slightly negative value and a sign of low solvency as AHCO would need 8.57 years to pay back of all of its debts.
AHCO has a Debt to FCF ratio (8.57) which is comparable to the rest of the industry.
AHCO has a Debt/Equity ratio of 1.27. This is a high value indicating a heavy dependency on external financing.
AHCO has a worse Debt to Equity ratio (1.27) than 68.63% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 8.57
Altman-Z 1.3
ROIC/WACC0.9
WACC7.25%
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 of 1.33. This is comparable to the rest of the industry: AHCO outperforms 40.20% of its industry peers.
A Quick Ratio of 1.09 indicates that AHCO should not have too much problems paying its short term obligations.
The Quick ratio of AHCO (1.09) is worse than 65.69% of its industry peers.
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

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8

3. Growth

3.1 Past

AHCO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 140.14%, which is quite impressive.
Measured over the past years, AHCO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.23% on average per year.
The Revenue has grown by 24.35% in the past year. This is a very strong growth!
Measured over the past years, AHCO shows a very strong growth in Revenue. The Revenue has been growing by 43.84% on average per year.
EPS 1Y (TTM)140.14%
EPS 3Y10.23%
EPS 5YN/A
EPS Q2Q%-150%
Revenue 1Y (TTM)24.35%
Revenue growth 3Y9.93%
Revenue growth 5Y43.84%
Sales Q2Q%-1.84%

3.2 Future

Based on estimates for the next years, AHCO will show a very strong growth in Earnings Per Share. The EPS will grow by 26.69% on average per year.
Based on estimates for the next years, AHCO will show a small growth in Revenue. The Revenue will grow by 3.81% on average per year.
EPS Next Y42.8%
EPS Next 2Y35.37%
EPS Next 3Y25.13%
EPS Next 5Y26.69%
Revenue Next Year0.55%
Revenue Next 2Y2.57%
Revenue Next 3Y3.81%
Revenue Next 5YN/A

3.3 Evolution

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

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8

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 15.77 indicates a correct valuation of AHCO.
Compared to the rest of the industry, the Price/Earnings ratio of AHCO indicates a somewhat cheap valuation: AHCO is cheaper than 75.49% of the companies listed in the same industry.
AHCO is valuated rather cheaply when we compare the Price/Earnings ratio to 26.03, which is the current average of the S&P500 Index.
AHCO is valuated reasonably with a Price/Forward Earnings ratio of 8.18.
92.16% of the companies in the same industry are more expensive than AHCO, based on the Price/Forward Earnings ratio.
AHCO is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.94, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 15.77
Fwd PE 8.18
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

Based on the Enterprise Value to EBITDA ratio, AHCO is valued cheaper than 95.10% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, AHCO is valued cheaply inside the industry as 95.10% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 5.14
EV/EBITDA 4.28
AHCO Per share dataAHCO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

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.
AHCO has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as AHCO's earnings are expected to grow with 25.13% in the coming years.
PEG (NY)0.37
PEG (5Y)N/A
EPS Next 2Y35.37%
EPS Next 3Y25.13%

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0

5. Dividend

5.1 Amount

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

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ADAPTHEALTH CORP

NASDAQ:AHCO (5/22/2025, 2:59:02 PM)

8.99

-0.07 (-0.77%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)05-06 2025-05-06/bmo
Earnings (Next)08-04 2025-08-04/bmo
Inst Owners90.37%
Inst Owner Change1.08%
Ins Owners2.96%
Ins Owner Change5.28%
Market Cap1.21B
Analysts80
Price Target13.26 (47.5%)
Short Float %9.66%
Short Ratio5.53
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)1
Avg EPS beat(2)12.05%
Min EPS beat(2)-11.41%
Max EPS beat(2)35.5%
EPS beat(4)1
Avg EPS beat(4)-33.9%
Min EPS beat(4)-140.37%
Max EPS beat(4)35.5%
EPS beat(8)3
Avg EPS beat(8)-143.05%
EPS beat(12)3
Avg EPS beat(12)-119.9%
EPS beat(16)3
Avg EPS beat(16)-105.14%
Revenue beat(2)1
Avg Revenue beat(2)-0.55%
Min Revenue beat(2)-2.38%
Max Revenue beat(2)1.28%
Revenue beat(4)2
Avg Revenue beat(4)-0.43%
Min Revenue beat(4)-2.38%
Max Revenue beat(4)1.28%
Revenue beat(8)4
Avg Revenue beat(8)-0.34%
Revenue beat(12)6
Avg Revenue beat(12)-0.03%
Revenue beat(16)8
Avg Revenue beat(16)0.14%
PT rev (1m)0%
PT rev (3m)13.87%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-96.86%
EPS NY rev (1m)-3.45%
EPS NY rev (3m)0.48%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.68%
Revenue NY rev (1m)-0.51%
Revenue NY rev (3m)-2.36%
Valuation
Industry RankSector Rank
PE 15.77
Fwd PE 8.18
P/S 0.3
P/FCF 5.14
P/OCF 2.24
P/B 0.77
P/tB N/A
EV/EBITDA 4.28
EPS(TTM)0.57
EY6.34%
EPS(NY)1.1
Fwd EY12.23%
FCF(TTM)1.75
FCFY19.45%
OCF(TTM)4.02
OCFY44.69%
SpS30.05
BVpS11.65
TBVpS-8.97
PEG (NY)0.37
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.8%
ROE 5.14%
ROCE 9.33%
ROIC 6.5%
ROICexc 6.69%
ROICexgc 24.76%
OM 9.03%
PM (TTM) 1.99%
GM 21.92%
FCFM 5.82%
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-Score8
Asset Turnover0.9
Health
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 8.57
Debt/EBITDA 2.72
Cap/Depr 83.77%
Cap/Sales 7.55%
Interest Coverage 3
Cash Conversion 74.1%
Profit Quality 291.83%
Current Ratio 1.33
Quick Ratio 1.09
Altman-Z 1.3
F-Score8
WACC7.25%
ROIC/WACC0.9
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)140.14%
EPS 3Y10.23%
EPS 5YN/A
EPS Q2Q%-150%
EPS Next Y42.8%
EPS Next 2Y35.37%
EPS Next 3Y25.13%
EPS Next 5Y26.69%
Revenue 1Y (TTM)24.35%
Revenue growth 3Y9.93%
Revenue growth 5Y43.84%
Sales Q2Q%-1.84%
Revenue Next Year0.55%
Revenue Next 2Y2.57%
Revenue Next 3Y3.81%
Revenue Next 5YN/A
EBIT growth 1Y56.69%
EBIT growth 3Y12.08%
EBIT growth 5Y59.71%
EBIT Next Year181.92%
EBIT Next 3Y47.42%
EBIT Next 5YN/A
FCF growth 1Y64.65%
FCF growth 3Y48.23%
FCF growth 5Y43.24%
OCF growth 1Y12.73%
OCF growth 3Y25.26%
OCF growth 5Y55.08%