AdaptHealth (AHCO) Financials

$8.78 -0.16 (-1.79%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$8.78 0.00 (-0.06%)

As of 05/23/2025 04:41 PM Eastern

Annual Income Statements for AdaptHealth

This table shows AdaptHealth's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Net Income / (Loss) Attributable to Common Shareholders	90	-679	69	156	-162	-21	23
Consolidated Net Income / (Loss)	95	-675	73	158	-194	-23	24
Net Income / (Loss) Continuing Operations	95	-675	73	158	-194	-23	24
Total Pre-Tax Income	136	-724	98	191	-206	-22	22
Total Operating Income	264	-598	190	226	71	29	31
Total Gross Profit	681	624	580	446	158	89	52
Total Revenue	3,261	3,200	2,971	2,455	1,056	530	361
Operating Revenue	3,261	3,200	2,971	2,455	1,056	530	361
Total Cost of Revenue	2,580	2,576	2,390	2,009	899	441	309
Operating Cost of Revenue	2,580	2,576	2,390	2,009	899	441	293
Total Operating Expenses	417	1,222	390	220	86	60	21
Selling, General & Admin Expense	359	335	325	168	89	56	18
Depreciation Expense	45	57	65	63	11	3.07	2.73
Impairment Charge	13	831	0.00	0.00	-	-	-
Total Other Income / (Expense), net	-128	-125	-93	-35	-277	-51	-8.85
Interest Expense	2.27	0.00	0.00	115	47	41	8.85
Interest & Investment Income	-127	-130	-109	-	-	-	-
Other Income / (Expense), net	1.23	4.92	17	81	-231	-9.82	-
Income Tax Expense	41	-49	25	33	-12	0.74	-2.10
Net Income / (Loss) Attributable to Noncontrolling Interest	4.36	4.12	3.82	1.98	-32	-1.26	1.08
Basic Earnings per Share	$0.62	($5.06)	$0.47	$1.12	($3.08)	-	-
Weighted Average Basic Shares Outstanding	133.76M	134.16M	134.18M	126.31M	52.49M	22.56M	11.90M
Diluted Earnings per Share	$0.61	($5.31)	$0.33	$0.67	($3.08)	($0.95)	-
Weighted Average Diluted Shares Outstanding	135.53M	134.42M	138.99M	133.03M	52.49M	22.56M	11.90M
Weighted Average Basic & Diluted Shares Outstanding	134.87M	132.91M	135.45M	133.91M	52.49M	22.56M	11.90M

This table shows AdaptHealth's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-7.21	50	23	19	-2.13	-255	-454	14	16	-2.59	16
Consolidated Net Income / (Loss)	-6.08	51	24	21	-1.11	-254	-453	15	17	-1.57	17
Net Income / (Loss) Continuing Operations	-6.08	51	24	21	-1.11	-254	-453	15	17	-1.57	17
Total Pre-Tax Income	-5.23	71	32	28	5.50	-272	-487	20	15	3.16	23
Total Operating Income	23	98	63	52	51	-218	-461	54	26	27	53
Total Gross Profit	120	313	124	127	117	304	111	120	89	244	110
Total Revenue	778	857	806	806	792	858	804	793	745	780	756
Operating Revenue	778	857	806	806	792	858	804	793	745	780	756
Total Cost of Revenue	657	543	682	679	676	554	693	673	655	537	647
Operating Cost of Revenue	657	543	682	679	676	554	693	673	655	537	647
Total Operating Expenses	97	216	61	75	66	522	572	66	63	217	57
Selling, General & Admin Expense	87	205	49	57	48	192	45	50	48	200	41
Depreciation Expense	10	11	11	11	11	11	15	16	16	17	16
Impairment Charge	0.00	-	0.00	6.55	6.53	319	512	0.00	0.00	-	0.00
Total Other Income / (Expense), net	-28	-27	-31	-24	-45	-54	-26	-34	-11	-24	-30
Interest & Investment Income	-28	-	-	-	-	-	-	-	-	-	-
Other Income / (Expense), net	0.00	2.77	2.24	8.77	-13	-20	5.84	-1.27	21	6.94	-1.62
Income Tax Expense	0.85	19	8.07	7.25	6.61	-18	-35	5.40	-1.71	4.73	5.58
Net Income / (Loss) Attributable to Noncontrolling Interest	1.13	1.14	1.10	1.10	1.03	0.93	1.16	1.06	0.97	1.02	1.11
Basic Earnings per Share	($0.05)	$0.35	$0.16	$0.13	($0.02)	($1.90)	($3.37)	$0.10	$0.11	($0.03)	$0.11
Weighted Average Basic Shares Outstanding	134.80M	133.76M	134.30M	133.22M	132.91M	134.16M	134.83M	134.30M	134.53M	134.18M	134.23M
Diluted Earnings per Share	($0.05)	$0.35	$0.15	$0.13	($0.02)	($1.91)	($3.43)	$0.09	($0.06)	$0.05	$0.11
Weighted Average Diluted Shares Outstanding	134.80M	135.53M	136.53M	136.03M	132.91M	134.42M	134.98M	136.23M	135.98M	138.99M	137.58M
Weighted Average Basic & Diluted Shares Outstanding	134.95M	134.87M	134.55M	134.47M	133.20M	132.91M	136.39M	136.11M	134.17M	135.45M	134.73M

This table details how cash moves in and out of AdaptHealth's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Net Change in Cash & Equivalents	33	31	-103	50	23	52	21
Net Cash From Operating Activities	542	481	374	276	196	60	68
Net Cash From Continuing Operating Activities	542	481	374	276	196	60	68
Net Income / (Loss) Continuing Operations	95	-675	73	158	-194	-23	24
Consolidated Net Income / (Loss)	95	-675	73	158	-194	-23	24
Depreciation Expense	365	383	351	258	82	63	48
Amortization Expense	5.67	5.23	5.23	5.38	1.88	1.31	0.48
Non-Cash Adjustments To Reconcile Net Income	38	825	6.01	-11	252	22	18
Changes in Operating Assets and Liabilities, net	39	-57	-62	-135	53	-2.52	-22
Net Cash From Investing Activities	-310	-357	-411	-1,825	-816	-85	-96
Net Cash From Continuing Investing Activities	-310	-357	-411	-1,825	-816	-85	-96
Purchase of Property, Plant & Equipment	-306	-337	-391	-203	-40	-21	-9.95
Acquisitions	-9.54	-20	-19	-1,620	-769	-64	-86
Purchase of Investments	0.00	-0.13	-0.73	-1.13	-8.66	0.00	-
Sale of Property, Plant & Equipment	5.32	0.00	0.00	-	-	-	-
Net Cash From Financing Activities	-199	-93	-66	1,599	643	76	49
Net Cash From Continuing Financing Activities	-199	-93	-66	1,599	643	76	49
Repayment of Debt	-430	-100	-36	-914	-561	-164	-116
Repurchase of Common Equity	0.00	-29	-14	-14	-12	-25	0.00
Payment of Dividends	-5.60	-2.50	-2.00	-1.07	-0.80	-251	-0.30
Issuance of Debt	254	50	1.62	2,265	941	361	165
Other Financing Activities, net	-18	-11	-15	-16	-93	30	0.00
Cash Interest Paid	122	126	109	74	36	23	7.33
Cash Income Taxes Paid	14	15	15	15	7.48	1.32	0.41

This table details how cash moves in and out of AdaptHealth's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-56	9.57	30	-9.73	2.43	21	11	-56	55	-64	-8.07
Net Cash From Operating Activities	96	150	144	198	49	155	99	86	140	97	107
Net Cash From Continuing Operating Activities	96	150	144	198	49	155	99	86	140	97	107
Net Income / (Loss) Continuing Operations	-6.08	51	24	21	-1.11	-254	-453	15	17	-1.57	17
Consolidated Net Income / (Loss)	-6.08	51	24	21	-1.11	-254	-453	15	17	-1.57	17
Depreciation Expense	94	91	91	91	93	92	97	99	94	102	92
Amortization Expense	1.28	1.42	1.52	1.42	1.31	1.31	1.31	1.31	1.31	1.31	1.31
Non-Cash Adjustments To Reconcile Net Income	8.30	7.57	3.83	7.10	19	324	507	9.71	-17	8.26	7.22
Changes in Operating Assets and Liabilities, net	-2.32	-0.51	24	78	-63	-8.90	-54	-39	45	-13	-11
Net Cash From Investing Activities	-96	-87	-54	-81	-88	-90	-77	-100	-90	-146	-95
Net Cash From Continuing Investing Activities	-96	-87	-54	-81	-88	-90	-77	-100	-90	-146	-95
Purchase of Property, Plant & Equipment	-96	-77	-60	-81	-88	-89	-77	-83	-89	-143	-94
Net Cash From Financing Activities	-56	-54	-60	-126	41	-44	-11	-42	4.45	-16	-20
Net Cash From Continuing Financing Activities	-56	-54	-60	-126	41	-44	-11	-42	4.45	-16	-20
Repayment of Debt	-25	-50	-230	-123	-27	-22	-9.87	-37	-31	-8.57	-5.81
Payment of Dividends	-2.05	-2.10	-	-	-	-	-	-	-	-	-
Issuance of Debt	0.56	-	179	-	76	-	-	-1.02	51	1.62	-
Other Financing Activities, net	-30	-1.88	-8.67	-0.35	-7.03	-1.60	-0.85	-2.20	-6.37	-8.63	-3.32
Cash Interest Paid	46	9.55	49	13	50	13	50	13	50	11	47
Cash Income Taxes Paid	-0.04	1.12	0.92	12	-0.33	9.03	0.16	5.18	0.38	4.46	0.66

This table presents AdaptHealth's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017
Total Assets	4,487	4,509	5,220	5,250	1,813	547	369	0.31
Total Current Assets	756	649	585	670	363	181	91	0.12
Cash & Equivalents	110	77	46	150	100	77	25	0.12
Accounts Receivable	408	389	359	360	171	79	53	-
Inventories, net	140	114	128	123	59	13	7.67	-
Prepaid Expenses	45	69	52	37	33	13	4.92	0.00
Other Current Nonoperating Assets	53	0.00	-	-	-	-	-	-
Plant, Property, & Equipment, net	475	495	487	399	110	64	62	0.00
Total Noncurrent Assets	3,219	3,333	4,142	4,182	1,340	302	217	0.19
Goodwill	2,675	2,725	3,545	3,513	999	267	202	-
Intangible Assets	106	130	163	202	116	0.00	-	-
Noncurrent Deferred & Refundable Income Taxes	315	346	282	304	208	28	9.08	-
Other Noncurrent Operating Assets	124	132	152	163	16	6.85	5.05	0.19
Total Liabilities & Shareholders' Equity	4,487	4,509	5,220	5,250	1,813	547	369	0.31
Total Liabilities	2,909	3,042	3,062	3,184	1,533	612	266	0.29
Total Current Liabilities	567	537	456	500	422	154	136	0.29
Short-Term Debt	16	53	35	20	8.15	21	28	0.17
Accounts Payable	438	392	337	358	254	103	86	0.06
Current Deferred Revenue	35	39	32	31	11	9.56	-	-
Other Current Liabilities	71	49	52	90	149	20	22	0.00
Other Current Nonoperating Liabilities	7.04	0.00	-	-	-	-	-	-
Total Noncurrent Liabilities	2,342	2,505	2,602	2,684	1,111	458	233	0.00
Long-Term Debt	1,965	2,095	2,153	2,184	777	395	127	-
Other Noncurrent Operating Liabilities	377	410	448	500	334	63	106	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,578	1,467	2,158	2,067	281	-66	0.00	0.02
Total Preferred & Common Equity	1,571	1,458	2,151	2,062	355	-39	0.00	0.02
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Common Equity	1,571	1,458	2,151	2,062	355	-39	0.00	0.02
Common Stock	2,157	2,150	2,130	2,107	558	0.01	0.00	0.03
Retained Earnings	-562	-653	26	-43	-199	-40	0.00	-0.00
Treasury Stock	-26	-43	-14	0.00	-	-	-	-
Accumulated Other Comprehensive Income / (Loss)	2.25	4.36	8.69	-2.35	-4.41	1.43	0.00	-
Noncontrolling Interest	6.97	8.22	6.60	4.78	-74	-27	0.00	-

This table presents AdaptHealth's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	4,437	4,470	4,511	4,504	4,725	5,203	5,283	5,238
Total Current Assets	745	684	686	656	585	568	647	632
Cash & Equivalents	54	100	70	80	56	45	101	111
Accounts Receivable	418	401	437	430	371	366	353	358
Inventories, net	129	133	124	109	116	115	136	125
Prepaid Expenses	42	49	56	38	42	43	56	37
Other Current Nonoperating Assets	101	-	-	-	-	-	-	-
Plant, Property, & Equipment, net	482	475	496	0.00	490	504	503	473
Total Noncurrent Assets	3,169	3,272	3,291	3,848	3,629	4,116	4,126	4,133
Goodwill	2,635	2,707	2,712	2,718	3,041	3,552	3,545	3,525
Intangible Assets	100	113	119	125	136	143	153	173
Noncurrent Deferred & Refundable Income Taxes	315	328	334	341	319	280	285	286
Other Noncurrent Operating Assets	119	124	126	633	133	140	143	149
Total Liabilities & Shareholders' Equity	4,437	4,470	4,511	4,504	4,725	5,203	5,283	5,238
Total Liabilities	2,863	2,946	3,018	3,033	2,985	3,016	3,116	3,078
Total Current Liabilities	577	553	596	493	448	458	524	467
Short-Term Debt	16	16	40	81	40	40	40	59
Accounts Payable	421	430	447	340	314	338	401	347
Current Deferred Revenue	46	36	36	-	48	35	32	32
Other Current Liabilities	75	68	69	72	46	46	51	30
Other Current Nonoperating Liabilities	18	-	-	-	-	-	-	-
Total Noncurrent Liabilities	2,260	2,393	2,422	2,540	2,522	2,547	2,586	2,611
Long-Term Debt	1,941	2,014	2,040	2,159	2,127	2,136	2,169	2,162
Other Noncurrent Operating Liabilities	319	379	382	276	395	412	417	449
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,574	1,524	1,493	1,471	1,740	2,187	2,167	2,160
Total Preferred & Common Equity	1,568	1,516	1,486	1,462	1,732	2,181	2,160	2,154
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,568	1,516	1,486	1,462	1,732	2,181	2,160	2,154
Common Stock	2,161	2,153	2,160	2,155	2,145	2,140	2,135	2,126
Retained Earnings	-569	-612	-635	-655	-398	56	42	29
Treasury Stock	-26	-26	-43	-43	-23	-23	-23	-14
Accumulated Other Comprehensive Income / (Loss)	1.58	1.63	4.85	5.21	8.41	8.34	5.89	13
Noncontrolling Interest	6.06	7.93	6.84	9.24	7.29	6.13	7.57	5.58

This table displays calculated financial ratios and metrics derived from AdaptHealth's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	1.90%	7.73%	21.02%	132.35%	99.45%	46.69%	0.00%
EBITDA Growth	409.52%	-136.45%	-1.06%	859.96%	-189.85%	5.03%	0.00%
EBIT Growth	144.64%	-386.27%	-32.33%	292.31%	-914.27%	-37.08%	0.00%
NOPAT Growth	143.87%	-394.49%	-23.87%	274.13%	142.86%	-39.56%	0.00%
Net Income Growth	114.05%	-1,022.68%	-53.76%	181.49%	-758.75%	-192.87%	0.00%
EPS Growth	111.49%	-1,709.09%	-50.75%	121.75%	-224.21%	0.00%	0.00%
Operating Cash Flow Growth	12.73%	28.57%	35.62%	40.92%	223.80%	-11.70%	0.00%
Free Cash Flow Firm Growth	-11.49%	1,143.85%	98.81%	-362.52%	-420.16%	0.00%	0.00%
Invested Capital Growth	-4.09%	-18.35%	4.31%	326.74%	252.51%	110.73%	0.00%
Revenue Q/Q Growth	-0.05%	2.50%	2.70%	16.83%	23.19%	-28.54%	0.00%
EBITDA Q/Q Growth	112.67%	-369.00%	-0.06%	63.84%	-165.50%	37.18%	0.00%
EBIT Q/Q Growth	459.61%	-84.53%	-10.93%	122.66%	-525.42%	-67.84%	0.00%
NOPAT Q/Q Growth	607.42%	-69.10%	-20.18%	32.42%	90.54%	-58.72%	0.00%
Net Income Q/Q Growth	145.09%	-59.61%	-25.51%	258.06%	-67.40%	-278.31%	0.00%
EPS Q/Q Growth	136.97%	-58.51%	-53.52%	155.37%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-0.89%	13.82%	-1.06%	22.47%	20.37%	-46.47%	0.00%
Free Cash Flow Firm Q/Q Growth	-16.27%	107.91%	84.38%	-5.79%	0.84%	0.00%	0.00%
Invested Capital Q/Q Growth	-1.50%	-8.71%	0.66%	6.61%	5.15%	11.84%	0.00%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	20.89%	19.50%	19.53%	18.15%	14.94%	16.79%	14.37%
EBITDA Margin	19.50%	-6.42%	18.98%	23.21%	-7.10%	15.75%	22.00%
Operating Margin	8.09%	-18.70%	6.41%	9.19%	6.75%	5.55%	8.61%
EBIT Margin	8.13%	-18.55%	6.98%	12.48%	-15.08%	3.69%	8.61%
Profit (Net Income) Margin	2.91%	-21.09%	2.46%	6.44%	-18.37%	-4.27%	6.74%
Tax Burden Percent	69.68%	93.23%	74.70%	82.82%	94.20%	103.38%	109.43%
Interest Burden Percent	51.34%	121.95%	47.22%	62.34%	129.35%	-111.75%	71.53%
Effective Tax Rate	30.32%	0.00%	25.30%	17.18%	0.00%	0.00%	-9.43%
Return on Invested Capital (ROIC)	5.35%	-10.73%	3.38%	7.35%	8.06%	10.18%	26.17%
ROIC Less NNEP Spread (ROIC-NNEP)	0.70%	-22.96%	0.08%	5.25%	-39.58%	-8.20%	18.72%
Return on Net Nonoperating Assets (RNNOA)	0.88%	-26.51%	0.08%	6.13%	-188.55%	58.53%	0.00%
Return on Equity (ROE)	6.23%	-37.24%	3.46%	13.47%	-180.49%	68.71%	0.00%
Cash Return on Invested Capital (CROIC)	9.52%	9.47%	-0.84%	-116.71%	-103.55%	-61.09%	0.00%
Operating Return on Assets (OROA)	5.89%	-12.20%	3.96%	8.67%	-13.50%	4.27%	16.84%
Return on Assets (ROA)	2.11%	-13.87%	1.40%	4.48%	-16.45%	-4.94%	13.18%
Return on Common Equity (ROCE)	6.19%	-37.08%	3.45%	13.87%	-265.26%	40.55%	0.00%
Return on Equity Simple (ROE_SIMPLE)	6.03%	-46.27%	3.40%	7.67%	-54.69%	58.22%	0.00%
Net Operating Profit after Tax (NOPAT)	184	-419	142	187	50	21	34
NOPAT Margin	5.64%	-13.09%	4.79%	7.61%	4.73%	3.88%	9.42%
Net Nonoperating Expense Percent (NNEP)	4.65%	12.23%	3.30%	2.10%	47.64%	18.38%	7.45%
Return On Investment Capital (ROIC_SIMPLE)	5.16%	-11.59%	3.27%	-	-	-	-
Cost of Revenue to Revenue	79.11%	80.50%	80.47%	81.85%	85.06%	83.21%	85.63%
SG&A Expenses to Revenue	11.02%	10.46%	10.93%	6.82%	8.46%	10.67%	5.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.80%	38.20%	13.12%	8.96%	8.18%	11.25%	5.76%
Earnings before Interest and Taxes (EBIT)	265	-593	207	306	-159	20	31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	636	-205	564	570	-75	83	79
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.82	0.68	1.20	1.57	9.49	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.39	0.31	0.87	1.32	3.19	0.65	0.85
Price to Earnings (P/E)	14.17	0.00	37.36	20.71	0.00	0.00	13.21
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.06%	0.00%	2.68%	4.83%	0.00%	0.00%	7.57%
Enterprise Value to Invested Capital (EV/IC)	0.94	0.88	1.10	1.28	4.12	2.39	3.36
Enterprise Value to Revenue (EV/Rev)	0.97	0.96	1.60	2.16	3.77	1.24	1.21
Enterprise Value to EBITDA (EV/EBITDA)	4.97	0.00	8.41	9.29	0.00	7.86	5.50
Enterprise Value to EBIT (EV/EBIT)	11.92	0.00	22.85	17.28	0.00	33.53	14.06
Enterprise Value to NOPAT (EV/NOPAT)	17.19	0.00	33.31	28.33	79.64	31.89	12.85
Enterprise Value to Operating Cash Flow (EV/OCF)	5.83	6.39	12.67	19.20	20.33	10.86	6.39
Enterprise Value to Free Cash Flow (EV/FCFF)	9.65	8.31	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	1.26	1.46	1.01	1.07	2.79	-6.33	0.00
Long-Term Debt to Equity	1.25	1.43	1.00	1.06	2.77	-6.01	0.00
Financial Leverage	1.26	1.15	0.99	1.17	4.76	-7.14	0.00
Leverage Ratio	2.95	2.68	2.48	3.01	10.97	-13.92	15,191.81
Compound Leverage Factor	1.52	3.27	1.17	1.88	14.19	15.55	10,866.68
Debt to Total Capital	55.66%	59.42%	50.35%	51.60%	73.64%	118.75%	100.00%
Short-Term Debt to Total Capital	0.46%	1.48%	0.81%	0.47%	0.76%	6.12%	17.98%
Long-Term Debt to Total Capital	55.21%	57.95%	49.55%	51.13%	72.88%	112.63%	82.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.20%	0.23%	0.15%	0.11%	-6.95%	-7.69%	0.00%
Common Equity to Total Capital	44.14%	40.35%	49.50%	48.29%	33.31%	-11.07%	0.00%
Debt to EBITDA	3.12	-10.45	3.88	3.87	-10.47	4.99	1.95
Net Debt to EBITDA	2.94	-10.08	3.80	3.60	-9.13	4.07	1.64
Long-Term Debt to EBITDA	3.09	-10.19	3.82	3.83	-10.36	4.74	1.60
Debt to NOPAT	10.78	-5.13	15.38	11.79	15.71	20.26	4.56
Net Debt to NOPAT	10.18	-4.94	15.06	10.99	13.71	16.52	3.82
Long-Term Debt to NOPAT	10.69	-5.00	15.14	11.69	15.55	19.21	3.74
Altman Z-Score	1.06	0.30	1.24	1.30	1.42	1.38	1.80
Noncontrolling Interest Sharing Ratio	0.50%	0.41%	0.27%	-2.95%	-46.97%	40.99%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	1.33	1.21	1.28	1.34	0.86	1.18	0.67
Quick Ratio	0.91	0.87	0.89	1.02	0.64	1.01	0.58
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	327	370	-35	-2,968	-642	-123	0.00
Operating Cash Flow to CapEx	180.17%	142.44%	95.51%	135.60%	492.10%	283.23%	687.71%
Free Cash Flow to Firm to Interest Expense	144.00	0.00	0.00	-25.72	-13.73	-2.98	0.00
Operating Cash Flow to Interest Expense	238.38	0.00	0.00	2.39	4.19	1.46	7.73
Operating Cash Flow Less CapEx to Interest Expense	106.07	0.00	0.00	0.63	3.33	0.94	6.61
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.73	0.66	0.57	0.69	0.90	1.16	1.96
Accounts Receivable Turnover	8.18	8.56	8.26	9.25	8.46	8.05	0.00
Inventory Turnover	20.36	21.34	19.06	22.09	24.95	42.15	0.00
Fixed Asset Turnover	6.73	6.52	6.71	9.64	12.14	8.46	0.00
Accounts Payable Turnover	6.22	7.06	6.87	6.56	5.04	4.68	7.22
Days Sales Outstanding (DSO)	44.60	42.66	44.17	39.48	43.14	45.36	0.00
Days Inventory Outstanding (DIO)	17.93	17.10	19.15	16.52	14.63	8.66	0.00
Days Payable Outstanding (DPO)	58.71	51.68	53.13	55.65	72.49	77.97	50.54
Cash Conversion Cycle (CCC)	3.82	8.08	10.20	0.35	-14.73	-23.95	-50.54
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	3,366	3,510	4,298	4,121	966	274	130
Invested Capital Turnover	0.95	0.82	0.71	0.97	1.70	2.62	2.78
Increase / (Decrease) in Invested Capital	-144	-789	178	3,155	692	144	0.00
Enterprise Value (EV)	3,159	3,073	4,738	5,293	3,977	656	437
Market Capitalization	1,281	994	2,590	3,234	3,367	343	307
Book Value per Share	$11.68	$10.69	$15.97	$15.60	$3.96	($1.24)	$0.00
Tangible Book Value per Share	($8.99)	($10.24)	($11.56)	($12.50)	($8.48)	($9.78)	($6.48)
Total Capital	3,559	3,615	4,346	4,270	1,066	351	155
Total Debt	1,981	2,148	2,188	2,204	785	417	155
Total Long-Term Debt	1,965	2,095	2,153	2,184	777	395	127
Net Debt	1,871	2,071	2,142	2,054	685	340	130
Capital Expenditures (CapEx)	301	337	391	203	40	21	9.95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	95	88	118	41	-151	-28	-42
Debt-free Net Working Capital (DFNWC)	205	165	164	190	-51	49	-17
Net Working Capital (NWC)	189	112	129	170	-59	27	-45
Net Nonoperating Expense (NNE)	89	256	69	29	244	43	9.69
Net Nonoperating Obligations (NNO)	1,788	2,043	2,141	2,054	685	340	130
Total Depreciation and Amortization (D&A)	371	388	356	263	84	64	48
Debt-free, Cash-free Net Working Capital to Revenue	2.92%	2.76%	3.97%	1.65%	-14.26%	-5.29%	-11.68%
Debt-free Net Working Capital to Revenue	6.29%	5.17%	5.52%	7.75%	-4.80%	9.22%	-4.70%
Net Working Capital to Revenue	5.79%	3.50%	4.35%	6.94%	-5.57%	5.17%	-12.43%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.62	($5.06)	$0.47	$0.00	$0.00	$0.00	($0.13)
Adjusted Weighted Average Basic Shares Outstanding	133.76M	134.16M	134.18M	126.31M	0.00	73.31M	31.25M
Adjusted Diluted Earnings per Share	$0.61	($5.31)	$0.33	$0.67	$0.00	$0.00	($0.13)
Adjusted Weighted Average Diluted Shares Outstanding	135.53M	134.42M	138.99M	133.03M	0.00	73.31M	31.25M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	($0.13)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	134.87M	132.91M	135.45M	133.91M	0.00	22.56M	31.25M
Normalized Net Operating Profit after Tax (NOPAT)	193	163	142	187	50	21	22
Normalized NOPAT Margin	5.92%	5.08%	4.79%	7.61%	4.73%	3.88%	6.03%
Pre Tax Income Margin	4.17%	-22.62%	3.30%	7.78%	-19.50%	-4.13%	6.16%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	116.57	0.00	0.00	2.66	-3.41	0.47	3.51
NOPAT to Interest Expense	80.85	0.00	0.00	1.62	1.07	0.50	3.84
EBIT Less CapEx to Interest Expense	-15.74	0.00	0.00	0.89	-4.26	-0.04	2.39
NOPAT Less CapEx to Interest Expense	-51.46	0.00	0.00	-0.14	0.22	-0.02	2.72
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	5.91%	-0.37%	2.73%	0.68%	-0.41%	-1,112.07%	1.23%
Augmented Payout Ratio	5.91%	-4.71%	21.87%	9.42%	-6.45%	-1,220.69%	1.23%

This table displays calculated financial ratios and metrics derived from AdaptHealth's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.84%	-0.19%	0.23%	1.60%	6.43%	9.99%	6.28%	9.03%	5.44%	11.13%	15.80%
EBITDA Growth	-10.11%	233.12%	144.31%	-0.13%	-6.96%	-205.25%	-345.97%	17.71%	-5.90%	-0.23%	-16.92%
EBIT Growth	-38.98%	142.17%	114.44%	14.77%	-19.06%	-807.43%	-986.83%	6.61%	-35.39%	-43.03%	-50.12%
NOPAT Growth	259.21%	146.57%	114.71%	-3.66%	-134.92%	-1,047.94%	-906.93%	6.65%	-35.90%	-127.44%	-36.16%
Net Income Growth	-448.15%	120.27%	105.29%	36.50%	-106.65%	-16,040.99%	-2,729.13%	-1.35%	-60.51%	-106.69%	-70.43%
EPS Growth	-150.00%	118.32%	104.37%	44.44%	66.67%	-3,920.00%	-3,218.18%	0.00%	-175.00%	-88.37%	-45.00%
Operating Cash Flow Growth	94.81%	-3.12%	46.11%	129.36%	-65.04%	60.20%	-7.65%	-16.58%	111.05%	-3.97%	294.54%
Free Cash Flow Firm Growth	-29.01%	-66.28%	361.42%	1,603.06%	1,315.42%	433.20%	128.18%	89.61%	93.88%	93.85%	87.34%
Invested Capital Growth	-9.57%	-4.09%	-11.11%	-19.55%	-12.56%	-18.35%	-9.97%	2.34%	1.73%	4.31%	10.48%
Revenue Q/Q Growth	-9.19%	6.30%	-0.01%	1.70%	-7.66%	6.74%	1.35%	6.53%	-4.57%	3.14%	3.97%
EBITDA Q/Q Growth	-38.25%	21.76%	3.00%	16.07%	191.44%	59.47%	-332.15%	8.14%	3.43%	-5.27%	11.10%
EBIT Q/Q Growth	-76.93%	52.81%	8.08%	60.16%	115.94%	47.67%	-958.98%	12.95%	39.34%	-34.40%	3.26%
NOPAT Q/Q Growth	-77.16%	49.52%	23.44%	477.61%	93.32%	52.76%	-908.24%	36.86%	319.67%	-133.21%	6.82%
Net Income Q/Q Growth	-111.83%	114.58%	16.68%	1,951.31%	99.56%	44.01%	-3,111.24%	-9.80%	1,161.43%	-109.12%	12.99%
EPS Q/Q Growth	-114.29%	133.33%	15.38%	750.00%	98.95%	44.31%	-3,911.11%	250.00%	-220.00%	-54.55%	22.22%
Operating Cash Flow Q/Q Growth	-36.49%	4.16%	-27.06%	303.76%	-68.42%	57.10%	14.50%	-38.45%	44.70%	-9.44%	3.43%
Free Cash Flow Firm Q/Q Growth	74.28%	-54.80%	-46.18%	67.42%	-14.15%	518.56%	275.33%	-35.38%	77.31%	47.68%	35.34%
Invested Capital Q/Q Growth	0.38%	-1.50%	-1.52%	-7.13%	5.78%	-8.71%	-10.87%	0.93%	-0.58%	0.66%	1.31%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.48%	36.57%	15.39%	15.76%	14.74%	35.47%	13.75%	15.11%	11.98%	31.23%	14.51%
EBITDA Margin	15.27%	22.46%	19.61%	19.03%	16.68%	-16.84%	-44.35%	19.36%	19.08%	17.60%	19.16%
Operating Margin	2.98%	11.40%	7.88%	6.46%	6.38%	-25.38%	-57.34%	6.84%	3.52%	3.43%	7.00%
EBIT Margin	2.98%	11.72%	8.16%	7.55%	4.79%	-27.75%	-56.61%	6.68%	6.30%	4.32%	6.79%
Profit (Net Income) Margin	-0.78%	6.00%	2.97%	2.55%	-0.14%	-29.55%	-56.33%	1.90%	2.24%	-0.20%	2.28%
Tax Burden Percent	116.26%	72.69%	74.79%	73.91%	-20.16%	93.33%	92.91%	73.59%	111.46%	-49.68%	75.53%
Interest Burden Percent	-22.57%	70.40%	48.73%	45.68%	14.49%	114.06%	107.10%	38.57%	31.89%	9.39%	44.43%
Effective Tax Rate	0.00%	27.31%	25.21%	26.09%	120.16%	0.00%	0.00%	26.41%	-11.46%	149.68%	24.47%
Return on Invested Capital (ROIC)	1.90%	7.86%	5.29%	4.00%	-1.04%	-14.56%	-30.89%	3.63%	2.78%	-1.20%	3.76%
ROIC Less NNEP Spread (ROIC-NNEP)	0.81%	6.84%	4.12%	3.12%	-0.63%	-19.40%	-37.07%	2.45%	2.19%	-0.64%	2.62%
Return on Net Nonoperating Assets (RNNOA)	1.08%	8.60%	5.04%	3.48%	-0.75%	-22.39%	-40.06%	2.38%	2.13%	-0.64%	2.51%
Return on Equity (ROE)	2.98%	16.47%	10.34%	7.48%	-1.80%	-36.95%	-70.95%	6.01%	4.92%	-1.84%	6.27%
Cash Return on Invested Capital (CROIC)	14.82%	9.52%	10.77%	11.30%	3.37%	9.47%	4.38%	0.59%	1.14%	-0.84%	-5.58%
Operating Return on Assets (OROA)	2.16%	8.50%	5.79%	5.07%	3.18%	-18.26%	-35.48%	3.95%	3.62%	2.45%	3.76%
Return on Assets (ROA)	-0.57%	4.35%	2.11%	1.71%	-0.09%	-19.44%	-35.31%	1.12%	1.29%	-0.11%	1.26%
Return on Common Equity (ROCE)	2.97%	16.38%	10.29%	7.46%	-1.79%	-36.80%	-70.71%	5.99%	4.90%	-1.83%	6.25%
Return on Equity Simple (ROE_SIMPLE)	5.73%	0.00%	-13.86%	-46.24%	-47.38%	0.00%	-24.40%	2.17%	2.20%	0.00%	4.56%
Net Operating Profit after Tax (NOPAT)	16	71	47	38	-10	-152	-323	40	29	-13	40
NOPAT Margin	2.09%	8.29%	5.89%	4.77%	-1.29%	-17.76%	-40.14%	5.03%	3.92%	-1.70%	5.29%
Net Nonoperating Expense Percent (NNEP)	1.10%	1.02%	1.18%	0.87%	-0.42%	4.83%	6.18%	1.18%	0.60%	-0.56%	1.14%
Return On Investment Capital (ROIC_SIMPLE)	0.46%	1.99%	-	-	-	-4.22%	-	-	-	-0.31%	-
Cost of Revenue to Revenue	84.52%	63.43%	84.61%	84.24%	85.26%	64.53%	86.25%	84.89%	88.02%	68.77%	85.49%
SG&A Expenses to Revenue	11.17%	23.88%	6.11%	7.07%	6.10%	22.35%	5.62%	6.31%	6.38%	25.65%	5.38%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.50%	25.17%	7.51%	9.30%	8.36%	60.85%	71.09%	8.27%	8.47%	27.80%	7.51%
Earnings before Interest and Taxes (EBIT)	23	100	66	61	38	-238	-455	53	47	34	51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	119	192	158	153	132	-145	-357	154	142	137	145
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.93	0.82	1.00	0.90	1.07	0.68	0.71	0.75	0.78	1.20	1.17
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.45	0.39	0.46	0.41	0.48	0.31	0.40	0.53	0.56	0.87	0.87
Price to Earnings (P/E)	17.13	14.17	0.00	0.00	0.00	0.00	0.00	37.78	38.91	37.36	26.63
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.84%	7.06%	0.00%	0.00%	0.00%	0.00%	0.00%	2.65%	2.57%	2.68%	3.75%
Enterprise Value to Invested Capital (EV/IC)	1.00	0.94	1.01	0.97	1.03	0.88	0.87	0.87	0.89	1.10	1.09
Enterprise Value to Revenue (EV/Rev)	1.04	0.97	1.06	1.03	1.18	0.96	1.08	1.23	1.26	1.60	1.60
Enterprise Value to EBITDA (EV/EBITDA)	5.42	4.97	11.53	0.00	0.00	0.00	43.94	6.52	6.85	8.41	8.23
Enterprise Value to EBIT (EV/EBIT)	13.48	11.92	0.00	0.00	0.00	0.00	0.00	20.39	20.92	22.85	19.94
Enterprise Value to NOPAT (EV/NOPAT)	19.90	17.19	0.00	0.00	0.00	0.00	0.00	30.50	31.47	33.31	26.05
Enterprise Value to Operating Cash Flow (EV/OCF)	5.73	5.83	6.31	6.68	9.87	6.39	7.95	8.76	8.49	12.67	12.28
Enterprise Value to Free Cash Flow (EV/FCFF)	6.40	9.65	8.82	7.61	28.47	8.31	18.87	150.76	78.76	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.24	1.26	1.33	1.39	1.59	1.46	1.25	0.99	1.02	1.01	1.03
Long-Term Debt to Equity	1.23	1.25	1.32	1.37	1.54	1.43	1.22	0.98	1.00	1.00	1.00
Financial Leverage	1.34	1.26	1.22	1.12	1.20	1.15	1.08	0.97	0.98	0.99	0.96
Leverage Ratio	2.94	2.95	2.82	2.64	2.69	2.68	2.55	2.41	2.45	2.48	2.51
Compound Leverage Factor	-0.66	2.08	1.37	1.21	0.39	3.06	2.74	0.93	0.78	0.23	1.12
Debt to Total Capital	55.43%	55.66%	57.11%	58.23%	61.45%	59.42%	55.47%	49.87%	50.48%	50.35%	50.70%
Short-Term Debt to Total Capital	0.46%	0.46%	0.46%	1.12%	2.12%	1.48%	1.02%	0.92%	0.91%	0.81%	1.34%
Long-Term Debt to Total Capital	54.97%	55.21%	56.66%	57.11%	59.34%	57.95%	54.44%	48.95%	49.57%	49.55%	49.35%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.17%	0.20%	0.22%	0.19%	0.24%	0.23%	0.19%	0.14%	0.17%	0.15%	0.13%
Common Equity to Total Capital	44.40%	44.14%	42.66%	41.58%	38.31%	40.35%	44.35%	49.99%	49.35%	49.50%	49.18%
Debt to EBITDA	3.14	3.12	6.79	-9.65	-10.89	-10.45	28.37	3.76	3.98	3.88	3.94
Net Debt to EBITDA	3.06	2.94	6.45	-9.33	-10.52	-10.08	27.63	3.69	3.80	3.80	3.74
Long-Term Debt to EBITDA	3.12	3.09	6.73	-9.47	-10.51	-10.19	27.84	3.70	3.91	3.82	3.83
Debt to NOPAT	11.55	10.78	-56.05	-5.16	-5.84	-5.13	-8.75	17.60	18.30	15.38	12.46
Net Debt to NOPAT	11.24	10.18	-53.28	-4.98	-5.64	-4.94	-8.52	17.24	17.46	15.06	11.84
Long-Term Debt to NOPAT	11.46	10.69	-55.60	-5.06	-5.64	-5.00	-8.59	17.28	17.97	15.14	12.13
Altman Z-Score	0.92	0.94	0.93	0.86	0.90	0.56	0.51	0.99	0.96	1.13	1.12
Noncontrolling Interest Sharing Ratio	0.50%	0.50%	0.47%	0.35%	0.46%	0.41%	0.33%	0.25%	0.30%	0.27%	0.24%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.29	1.33	1.24	1.15	1.33	1.21	1.31	1.24	1.23	1.28	1.35
Quick Ratio	0.82	0.91	0.91	0.85	1.03	0.87	0.95	0.90	0.87	0.89	1.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	374	215	475	882	527	636	103	-59	-43	-191	-365
Operating Cash Flow to CapEx	99.94%	194.50%	242.47%	243.61%	55.79%	175.15%	128.21%	104.49%	157.37%	67.82%	113.65%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	14.08	26.69	16.22	0.00	3.18	-1.80	-1.36	0.00	-12.80
Operating Cash Flow to Interest Expense	0.00	0.00	4.28	5.99	1.51	0.00	3.06	2.65	4.39	0.00	3.75
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	2.52	3.53	-1.20	0.00	0.67	0.11	1.60	0.00	0.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.73	0.71	0.67	0.66	0.66	0.63	0.59	0.57	0.57	0.55
Accounts Receivable Turnover	7.66	8.18	8.45	8.12	8.30	8.56	8.56	8.53	8.32	8.26	8.20
Inventory Turnover	21.88	20.36	21.89	23.00	22.41	21.34	22.52	24.59	22.16	19.06	21.71
Fixed Asset Turnover	0.00	6.73	6.76	6.52	0.00	6.52	6.48	6.41	6.48	6.71	7.10
Accounts Payable Turnover	6.84	6.22	7.34	7.00	7.39	7.06	8.23	8.20	7.28	6.87	7.42
Days Sales Outstanding (DSO)	47.67	44.60	43.18	44.93	43.98	42.66	42.62	42.80	43.86	44.17	44.54
Days Inventory Outstanding (DIO)	16.68	17.93	16.67	15.87	16.29	17.10	16.21	14.84	16.47	19.15	16.81
Days Payable Outstanding (DPO)	53.40	58.71	49.70	52.11	49.38	51.68	44.35	44.53	50.14	53.13	49.20
Cash Conversion Cycle (CCC)	10.96	3.82	10.15	8.68	10.89	8.08	14.47	13.11	10.19	10.20	12.15
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,379	3,366	3,417	3,470	3,737	3,510	3,844	4,313	4,273	4,298	4,270
Invested Capital Turnover	0.91	0.95	0.90	0.84	0.81	0.82	0.77	0.72	0.71	0.71	0.71
Increase / (Decrease) in Invested Capital	-358	-144	-427	-843	-537	-789	-426	99	73	178	405
Enterprise Value (EV)	3,372	3,159	3,448	3,349	3,845	3,073	3,357	3,770	3,799	4,738	4,642
Market Capitalization	1,462	1,281	1,510	1,332	1,570	994	1,239	1,633	1,684	2,590	2,526
Book Value per Share	$11.62	$11.68	$11.28	$11.15	$11.00	$10.69	$12.73	$16.25	$15.95	$15.97	$16.02
Tangible Book Value per Share	($8.66)	($8.99)	($9.70)	($10.10)	($10.39)	($10.24)	($10.61)	($11.29)	($11.36)	($11.56)	($11.47)
Total Capital	3,531	3,559	3,554	3,573	3,816	3,615	3,907	4,363	4,377	4,346	4,381
Total Debt	1,957	1,981	2,030	2,080	2,345	2,148	2,167	2,176	2,209	2,188	2,221
Total Long-Term Debt	1,941	1,965	2,014	2,040	2,264	2,095	2,127	2,136	2,169	2,153	2,162
Net Debt	1,904	1,871	1,930	2,011	2,266	2,071	2,111	2,130	2,108	2,142	2,110
Capital Expenditures (CapEx)	96	77	60	81	88	89	77	83	89	143	94
Debt-free, Cash-free Net Working Capital (DFCFNWC)	131	95	47	61	164	88	121	105	61	118	113
Debt-free Net Working Capital (DFNWC)	185	205	147	130	244	165	177	150	162	164	224
Net Working Capital (NWC)	168	189	131	90	163	112	137	110	122	129	165
Net Nonoperating Expense (NNE)	22	20	24	18	-9.08	101	130	25	13	-12	23
Net Nonoperating Obligations (NNO)	1,805	1,788	1,893	1,977	2,266	2,043	2,105	2,126	2,106	2,141	2,110
Total Depreciation and Amortization (D&A)	96	92	92	93	94	94	99	101	95	104	94
Debt-free, Cash-free Net Working Capital to Revenue	4.04%	2.92%	1.44%	1.86%	5.06%	2.76%	3.87%	3.42%	2.02%	3.97%	3.91%
Debt-free Net Working Capital to Revenue	5.69%	6.29%	4.51%	4.00%	7.51%	5.17%	5.67%	4.89%	5.39%	5.52%	7.74%
Net Working Capital to Revenue	5.19%	5.79%	4.01%	2.77%	5.03%	3.50%	4.38%	3.59%	4.06%	4.35%	5.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.05)	$0.35	$0.16	$0.13	($0.02)	($1.90)	($3.37)	$0.10	$0.11	($0.03)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	134.80M	133.76M	134.30M	133.22M	132.91M	134.16M	134.83M	134.30M	134.53M	134.18M	134.23M
Adjusted Diluted Earnings per Share	($0.05)	$0.35	$0.15	$0.13	($0.02)	($1.91)	($3.43)	$0.09	($0.06)	$0.05	$0.11
Adjusted Weighted Average Diluted Shares Outstanding	134.80M	135.53M	136.53M	136.03M	132.91M	134.42M	134.98M	136.23M	135.98M	138.99M	137.58M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	134.95M	134.87M	134.55M	134.47M	133.20M	132.91M	136.39M	136.11M	134.17M	135.45M	134.73M
Normalized Net Operating Profit after Tax (NOPAT)	16	71	47	43	40	71	36	40	18	19	40
Normalized NOPAT Margin	2.09%	8.29%	5.89%	5.37%	5.04%	8.25%	4.43%	5.03%	2.46%	2.40%	5.29%
Pre Tax Income Margin	-0.67%	8.25%	3.97%	3.45%	0.69%	-31.66%	-60.63%	2.58%	2.01%	0.41%	3.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	1.95	1.84	1.17	0.00	-14.09	1.63	1.47	0.00	1.80
NOPAT to Interest Expense	0.00	0.00	1.41	1.16	-0.31	0.00	-9.99	1.23	0.91	0.00	1.40
EBIT Less CapEx to Interest Expense	0.00	0.00	0.18	-0.62	-1.54	0.00	-16.48	-0.91	-1.32	0.00	-1.50
NOPAT Less CapEx to Interest Expense	0.00	0.00	-0.36	-1.30	-3.02	0.00	-12.38	-1.31	-1.88	0.00	-1.90
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	8.51%	5.91%	-1.67%	-0.51%	0.00%	-0.37%	-0.59%	5.28%	0.00%	2.73%	2.04%
Augmented Payout Ratio	8.51%	5.91%	-11.20%	-3.43%	-2.90%	-4.71%	-2.77%	47.16%	48.80%	21.87%	16.29%

Frequently Asked Questions About AdaptHealth's Financials

When does AdaptHealth's financial year end?

According to the most recent income statement we have on file, AdaptHealth's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has AdaptHealth's net income changed over the last 6 years?

AdaptHealth's net income appears to be on an upward trend, with a most recent value of $94.78 million in 2024, rising from $24.34 million in 2018. The previous period was -$674.78 million in 2023. See where experts think AdaptHealth is headed by visiting AdaptHealth's forecast page.

What is AdaptHealth's operating income?

AdaptHealth's total operating income in 2024 was $263.73 million, based on the following breakdown:

Total Gross Profit: $681.09 million
Total Operating Expenses: $417.36 million

How has AdaptHealth revenue changed over the last 6 years?

Over the last 6 years, AdaptHealth's total revenue changed from $361.05 million in 2018 to $3.26 billion in 2024, a change of 803.2%.

How much debt does AdaptHealth have?

AdaptHealth's total liabilities were at $2.91 billion at the end of 2024, a 4.4% decrease from 2023, and a 1,015,875.4% increase since 2017.

How much cash does AdaptHealth have?

In the past 7 years, AdaptHealth's cash and equivalents has ranged from $119.82 thousand in 2017 to $149.63 million in 2021, and is currently $109.75 million as of their latest financial filing in 2024.

How has AdaptHealth's book value per share changed over the last 6 years?

Over the last 6 years, AdaptHealth's book value per share changed from 0.00 in 2018 to 11.68 in 2024, a change of 1,167.7%.

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This page (NASDAQ:AHCO) was last updated on 5/24/2025 by MarketBeat.com Staff

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AdaptHealth (AHCO) Financials

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AdaptHealth (AHCO) Financials

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