What is Agilon Health's operating income?

Agilon Health's total operating income in 2025 was -$463.24 million, based on the following breakdown: Total Gross Profit: -$160.02 million Total Operating Expenses: $303.22 million

Agilon Health (AGL) Financials

$96.62 +7.72 (+8.68%)

Closing price 08/14/2026 03:59 PM Eastern

Extended Trading

$96.62 +0.00 (+0.00%)

As of 08/14/2026 07:56 PM Eastern

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Annual Income Statements for Agilon Health

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-283	-60	-406	-107	-263	-260	-391
Consolidated Net Income / (Loss)	-283	-60	-407	-107	-263	-260	-391
Net Income / (Loss) Continuing Operations	-114	-63	-384	-92	-195	-250	-405
Total Pre-Tax Income	-115	-62	-383	-91	-194	-249	-404
Total Operating Income	-107	-57	-372	-105	-232	-292	-463
Total Gross Profit	794	1,218	66	111	4,316	6,061	-160
Total Revenue	794	1,218	1,521	2,388	4,316	6,061	5,933
Operating Revenue	794	1,218	1,521	2,388	4,316	6,061	5,933
Total Cost of Revenue	0.00	0.00	1,456	2,277	0.00	0.00	6,093
Operating Cost of Revenue	-	-	1,456	2,277	-	-	6,093
Total Operating Expenses	901	1,275	438	217	4,548	6,353	303
Selling, General & Admin Expense	123	137	428	208	286	269	239
Depreciation Expense	12	14	10	8.95	16	24	29
Impairment Charge	-	-	-	0.00	0.00	3.60	36
Total Other Income / (Expense), net	-8.11	-5.67	-11	15	38	43	59
Interest Expense	9.07	8.14	6.15	4.48	6.66	6.18	6.64
Interest & Investment Income	-	0.00	-6.77	11	16	15	-1.84
Other Income / (Expense), net	0.96	2.47	2.18	8.47	28	34	68
Income Tax Expense	-0.23	0.87	0.89	1.64	0.79	1.45	1.25
Net Income / (Loss) Discontinued Operations	-168	3.16	-23	-15	-68	-9.82	14
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.15	0.00	-0.30	-0.31	-0.21	0.05	0.00
Weighted Average Basic Shares Outstanding	294.74M	323.46M	372.93M	408.15M	408.92M	410.97M	413.97M
Weighted Average Diluted Shares Outstanding	294.74M	323.46M	372.93M	408.15M	408.92M	410.97M	413.97M
Weighted Average Basic & Diluted Shares Outstanding	294.74M	323.46M	372.93M	413.12M	409.54M	412.30M	414.87M

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-230	-6.06	-31	-118	-106	12	-104	-110	-189	49	18
Consolidated Net Income / (Loss)	-230	-6.03	-31	-118	-106	12	-104	-110	-189	49	18
Net Income / (Loss) Continuing Operations	-167	3.25	-31	-116	-106	-1.89	-104	-110	-189	30	18
Total Pre-Tax Income	-167	3.11	-30	-117	-105	-1.69	-104	-111	-188	30	18
Total Operating Income	-164	-7.18	-43	-134	-108	-22	-116	-131	-194	4.00	12
Total Gross Profit	3,171	75	32	1,451	-1,568	1,533	1,395	1,435	-1,594	65	107
Total Revenue	1,056	1,604	1,483	1,451	1,522	1,533	1,395	1,435	1,569	1,420	1,495
Operating Revenue	1,056	1,604	1,483	1,451	1,522	1,533	1,395	1,435	1,569	1,420	1,495
Total Cost of Revenue	-2,115	1,529	1,451	0.00	3,090	0.00	0.00	0.00	3,163	1,355	1,388
Operating Cost of Revenue	-	1,529	1,451	-	-	-	-	-	-	1,355	1,388
Total Operating Expenses	3,335	82	76	1,584	-1,459	1,555	1,511	1,567	-1,400	61	95
Selling, General & Admin Expense	65	76	70	63	60	66	56	56	60	54	89
Depreciation Expense	4.74	5.84	5.91	6.22	6.49	6.88	7.32	7.43	6.97	6.79	6.86
Total Other Income / (Expense), net	-2.57	10	13	16	3.43	20	12	21	6.27	26	5.81
Interest Expense	1.99	1.28	1.70	1.62	1.57	1.52	1.57	1.84	1.72	1.81	1.61
Interest & Investment Income	-8.02	5.68	9.96	2.05	-2.69	13	5.41	13	-33	12	-7.60
Other Income / (Expense), net	7.44	5.89	4.84	16	7.70	9.26	7.88	9.44	41	16	15
Income Tax Expense	0.27	-0.13	0.42	-0.59	1.76	0.20	0.06	-0.33	1.32	0.03	-0.38
Net Income / (Loss) Discontinued Operations	-63	-9.28	0.00	-1.18	0.64	14	0.00	0.00	-	19	0.00
Basic Earnings per Share	-	-	-	-	-	$0.73	($6.31)	-	-	$2.95	$1.07
Weighted Average Basic Shares Outstanding	408.92M	408.94M	411.27M	411.59M	410.97M	16.52M	16.55M	414.47M	413.97M	16.60M	16.71M
Diluted Earnings per Share	-	-	-	-	-	$0.73	($6.31)	-	-	$2.94	$1.04
Weighted Average Diluted Shares Outstanding	408.92M	408.94M	411.27M	411.59M	410.97M	16.52M	16.55M	414.47M	413.97M	16.66M	17.21M
Weighted Average Basic & Diluted Shares Outstanding	409.54M	411.26M	411.48M	412.02M	412.30M	413.95M	414.42M	414.58M	414.87M	16.68M	16.79M

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	67	-6.52	916	-547	-393	80	-20
Net Cash From Operating Activities	-104	-53	-148	-131	-156	-58	-106
Net Cash From Continuing Operating Activities	-104	-12	-148	-131	-156	-58	-106
Net Income / (Loss) Continuing Operations	-283	-60	-407	-107	-263	-260	-391
Consolidated Net Income / (Loss)	-283	-60	-407	-107	-263	-260	-391
Depreciation Expense	41	14	15	14	20	24	29
Non-Cash Adjustments To Reconcile Net Income	120	30	302	21	97	47	68
Changes in Operating Assets and Liabilities, net	17	3.66	-58	-59	-10	131	189
Net Cash From Investing Activities	-5.06	22	-91	-444	-44	140	89
Net Cash From Continuing Investing Activities	-5.06	22	-91	-444	-44	140	89
Purchase of Property, Plant & Equipment	-2.89	-1.78	-6.56	-15	-16	-13	-13
Acquisitions	-1.01	-0.58	-6.86	-17	-60	-28	-30
Purchase of Investments	-	0.00	0.00	-458	-115	-12	-60
Divestitures	0.00	26	-1.34	0.50	2.19	0.00	0.00
Sale and/or Maturity of Investments	-	2.06	7.10	53	164	207	194
Other Investing Activities, net	-1.15	-3.85	-83	-6.51	-20	-14	-2.00
Net Cash From Financing Activities	176	25	1,154	28	-193	-2.58	-2.99
Net Cash From Continuing Financing Activities	176	25	1,154	28	-193	-2.58	-2.99
Repayment of Debt	-3.59	-3.04	-135	-5.00	-5.00	-3.75	0.00
Repurchase of Common Equity	0.00	-6.74	0.00	0.00	-200	0.00	0.00
Issuance of Common Equity	180	34	1,189	33	12	1.17	-2.99

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-64	4.22	-2.21	37	40	-55	33	0.27	2.03	38	-33
Net Cash From Operating Activities	-61	-48	-19	-7.70	16	-32	-35	-18	-21	24	-57
Net Cash From Continuing Operating Activities	-61	-48	-19	-7.70	16	-32	-35	-18	-21	24	-57
Net Income / (Loss) Continuing Operations	-230	-6.03	-31	-118	-106	12	-104	-110	-189	49	18
Consolidated Net Income / (Loss)	-230	-6.03	-31	-118	-106	12	-104	-110	-189	49	18
Depreciation Expense	5.15	5.84	5.91	6.22	6.49	6.88	7.32	7.43	6.97	6.79	6.86
Non-Cash Adjustments To Reconcile Net Income	69	16	10	12	9.95	-12	9.09	-8.10	79	-24	32
Changes in Operating Assets and Liabilities, net	96	-63	-3.98	92	106	-39	53	93	83	-8.43	-114
Net Cash From Investing Activities	-2.20	51	18	47	24	-23	70	19	23	19	20
Net Cash From Continuing Investing Activities	-2.20	51	18	47	24	-23	70	19	23	19	20
Purchase of Property, Plant & Equipment	-3.93	-3.14	-3.31	-3.53	-3.27	-3.85	-3.25	-3.18	-2.97	-3.10	-3.45
Acquisitions	-12	-11	-6.46	-0.98	-9.16	-7.03	-2.68	-13	-6.79	-0.03	-0.86
Sale and/or Maturity of Investments	30	75	41	51	40	35	90	35	33	22	24
Net Cash From Financing Activities	-0.85	0.56	-1.71	-1.41	-0.02	-0.16	-2.58	-0.24	-0.02	-5.15	4.63
Net Cash From Continuing Financing Activities	-0.85	0.56	-1.71	-1.41	-0.02	-0.16	-2.58	-0.24	-0.02	-5.15	4.63
Issuance of Common Equity	0.41	1.81	-0.46	-0.16	-0.02	-0.16	-2.58	-0.24	-0.02	-0.04	4.63

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	446	1,586	1,697	1,741	1,734	1,271
Total Current Assets	294	1,367	1,451	1,480	1,458	1,097
Cash & Equivalents	107	1,040	465	108	188	174
Restricted Cash	-	15	11	6.76	5.63	0.00
Short-Term Investments	-	0.00	412	381	212	111
Accounts Receivable	145	293	492	942	1,017	674
Prepaid Expenses	9.64	19	32	43	35	138
Plant, Property, & Equipment, net	6.46	9.16	20	28	28	25
Total Noncurrent Assets	146	210	226	233	248	149
Intangible Assets	60	55	18	64	73	66
Other Noncurrent Operating Assets	44	113	106	145	151	83
Total Liabilities & Shareholders' Equity	446	1,586	1,697	1,741	1,734	1,271
Total Liabilities	422	495	657	1,080	1,263	1,145
Total Current Liabilities	267	357	535	977	1,152	1,076
Short-Term Debt	3.04	5.00	5.00	-	0.00	19
Accounts Payable	97	113	177	239	220	127
Other Current Liabilities	163	239	301	738	932	930
Total Noncurrent Liabilities	155	138	122	103	111	68
Long-Term Debt	65	43	38	32	35	16
Other Noncurrent Operating Liabilities	90	94	82	70	76	52
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-285	1,092	1,041	661	471	127
Total Preferred & Common Equity	-285	1,092	1,041	662	471	127
Total Common Equity	-285	1,092	1,041	662	471	127
Common Stock	266	2,050	2,111	1,991	2,058	2,104
Retained Earnings	-551	-958	-1,064	-1,327	-1,587	-1,978
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-5.56	-2.30	-0.09	0.92

This table presents Agilon Health'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 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	2,170	2,353	2,278	2,316	2,163	2,091	1,933	1,713	1,596	1,505	1,591
Total Current Assets	1,876	2,045	1,957	2,037	1,884	1,812	1,651	1,453	1,338	1,321	1,419
Cash & Equivalents	394	191	168	112	109	148	137	171	172	140	107
Restricted Cash	10	10	10	6.84	6.85	5.63	1.68	0.00	0.00	72	72
Short-Term Investments	422	389	396	307	292	245	230	156	139	91	78
Accounts Receivable	1,005	1,417	1,346	1,571	1,437	1,368	1,240	1,047	947	900	1,060
Prepaid Expenses	45	38	37	40	39	45	42	78	80	118	101
Plant, Property, & Equipment, net	22	24	26	28	28	28	28	27	26	25	25
Total Noncurrent Assets	272	284	295	252	251	251	254	233	232	159	148
Intangible Assets	93	94	93	72	75	73	68	66	75	62	60
Other Noncurrent Operating Assets	117	127	140	156	153	154	162	143	133	96	88
Total Liabilities & Shareholders' Equity	2,170	2,353	2,278	2,316	2,163	2,091	1,933	1,713	1,596	1,505	1,591
Total Liabilities	1,088	1,473	1,406	1,628	1,487	1,517	1,433	1,304	1,290	1,324	1,364
Total Current Liabilities	973	1,362	1,301	1,527	1,387	1,409	1,375	1,249	1,240	1,272	1,312
Short-Term Debt	5.00	5.00	5.00	7.50	8.75	-	35	35	35	15	15
Accounts Payable	222	258	291	252	281	218	227	172	146	202	275
Other Current Liabilities	746	1,100	1,006	1,267	1,098	1,191	1,113	1,042	1,059	1,055	1,023
Total Noncurrent Liabilities	116	111	105	101	100	107	58	55	50	51	51
Long-Term Debt	37	36	35	30	27	35	0.00	0.00	0.00	15	15
Other Noncurrent Operating Liabilities	79	75	70	71	73	72	58	55	50	36	36
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,082	879	872	688	676	575	500	409	306	181	228
Total Preferred & Common Equity	1,083	880	872	689	677	575	500	409	306	181	228
Total Common Equity	1,083	880	872	689	677	575	500	409	306	181	228
Common Stock	2,134	1,951	1,975	2,025	2,043	2,056	2,075	2,087	2,095	2,110	2,139
Retained Earnings	-1,048	-1,065	-1,096	-1,333	-1,364	-1,481	-1,575	-1,679	-1,789	-1,929	-1,911
Accumulated Other Comprehensive Income / (Loss)	-3.55	-6.37	-6.23	-2.75	-2.45	0.30	0.54	0.79	0.88	0.48	0.15

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	414,581,604.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	414,581,604.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.94
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	53.36%	24.88%	56.97%	80.74%	40.41%	-2.11%
EBITDA Growth	0.00%	37.53%	-786.07%	76.61%	-121.49%	-26.64%	-57.40%
EBIT Growth	0.00%	48.68%	-582.67%	73.81%	-110.82%	-26.11%	-53.55%
NOPAT Growth	0.00%	46.82%	-556.82%	71.69%	-120.29%	-25.85%	-58.57%
Net Income Growth	0.00%	78.76%	-577.39%	73.73%	-145.92%	1.03%	-50.46%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	0.00%	48.77%	-178.47%	11.71%	-19.41%	63.01%	-83.05%
Free Cash Flow Firm Growth	0.00%	0.00%	-1,392.04%	72.71%	-154.39%	57.52%	5.57%
Invested Capital Growth	0.00%	0.00%	650.88%	29.12%	80.24%	-49.42%	-223.10%
Revenue Q/Q Growth	0.00%	0.00%	-10.06%	57.55%	0.77%	8.34%	0.80%
EBITDA Q/Q Growth	0.00%	0.00%	2.40%	21.89%	-204.28%	19.86%	-16.47%
EBIT Q/Q Growth	0.00%	0.00%	2.33%	19.20%	-157.18%	17.97%	-15.26%
NOPAT Q/Q Growth	0.00%	0.00%	3.52%	12.14%	-192.23%	16.13%	-22.71%
Net Income Q/Q Growth	0.00%	0.00%	-8.69%	0.18%	-195.72%	32.41%	-26.96%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-31.58%	-0.82%	-7.73%	57.32%	-53.71%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	43.20%	-13.03%	9.78%	-20.83%
Invested Capital Q/Q Growth	0.00%	0.00%	4.94%	-35.58%	-41.17%	-52.53%	-508.82%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	4.32%	4.66%	100.00%	0.08%	-2.70%
EBITDA Margin	-8.08%	-3.29%	-23.36%	-3.48%	-4.27%	-3.85%	-6.19%
Operating Margin	-13.42%	-4.65%	-24.47%	-4.41%	-5.38%	-4.82%	-7.81%
EBIT Margin	-13.30%	-4.45%	-24.32%	-4.06%	-4.73%	-4.25%	-6.67%
Profit (Net Income) Margin	-35.59%	-4.93%	-26.74%	-4.47%	-6.09%	-4.29%	-6.60%
Tax Burden Percent	246.53%	96.33%	106.22%	117.86%	135.14%	104.53%	96.85%
Interest Burden Percent	108.59%	115.01%	103.49%	93.56%	95.19%	96.58%	102.14%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-747.53%	-75.60%	-105.45%	-137.02%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-719.59%	-72.18%	-91.05%	-123.67%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	674.65%	65.57%	74.56%	91.06%	0.00%
Return on Equity (ROE)	0.00%	-242.44%	-72.88%	-10.02%	-30.89%	-45.96%	-130.95%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-424.07%	-101.01%	-162.71%	-71.38%	0.00%
Operating Return on Assets (OROA)	0.00%	-12.14%	-36.41%	-5.90%	-11.88%	-14.83%	-26.33%
Return on Assets (ROA)	0.00%	-13.45%	-40.03%	-6.51%	-15.29%	-14.97%	-26.04%
Return on Common Equity (ROCE)	0.00%	2,786.82%	-52.69%	-10.03%	-30.91%	-45.99%	-130.95%
Return on Equity Simple (ROE_SIMPLE)	0.00%	21.09%	-37.26%	-10.26%	-39.71%	-55.23%	0.00%
Net Operating Profit after Tax (NOPAT)	-75	-40	-261	-74	-162	-204	-324
NOPAT Margin	-9.39%	-3.26%	-17.13%	-3.09%	-3.76%	-3.37%	-5.47%
Net Nonoperating Expense Percent (NNEP)	0.00%	-101.32%	-27.94%	-3.42%	-14.40%	-13.34%	-21.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-6.80%	-23.44%	-40.42%	-200.51%
Cost of Revenue to Revenue	0.00%	0.00%	95.68%	95.34%	0.00%	99.92%	102.70%
SG&A Expenses to Revenue	15.46%	11.27%	28.10%	8.70%	6.62%	4.44%	4.02%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	113.42%	104.65%	28.79%	9.08%	105.38%	4.90%	5.11%
Earnings before Interest and Taxes (EBIT)	-106	-54	-370	-97	-204	-258	-396
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-64	-40	-355	-83	-184	-233	-367
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	9.73	6.38	7.70	1.66	2.25
Price to Tangible Book Value (P/TBV)	0.00	0.00	10.68	6.52	8.88	2.09	4.68
Price to Revenue (P/Rev)	1.35	0.88	6.99	2.78	1.18	0.13	0.05
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	112.96	52.76	23.37	4.11	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	1.10	6.32	2.43	1.07	0.07	0.01
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	2.73	0.04	0.04	0.05	0.07	0.28
Long-Term Debt to Equity	0.00	2.61	0.04	0.04	0.05	0.07	0.12
Financial Leverage	0.00	-1.62	-0.94	-0.91	-0.82	-0.74	-1.04
Leverage Ratio	0.00	18.02	1.82	1.54	2.02	3.07	5.03
Compound Leverage Factor	0.00	20.72	1.88	1.44	1.92	2.96	5.14
Debt to Total Capital	0.00%	73.21%	4.25%	4.01%	4.66%	6.90%	21.63%
Short-Term Debt to Total Capital	0.00%	3.29%	0.44%	0.46%	0.00%	0.00%	11.90%
Long-Term Debt to Total Capital	0.00%	69.93%	3.81%	3.55%	4.66%	6.90%	9.74%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	334.68%	-0.03%	-0.06%	-0.12%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-307.90%	95.78%	96.05%	95.46%	93.10%	78.37%
Debt to EBITDA	0.00	-1.69	-0.14	-0.52	-0.18	-0.15	-0.10
Net Debt to EBITDA	0.00	0.97	2.83	10.16	2.51	1.59	0.68
Long-Term Debt to EBITDA	0.00	-1.61	-0.12	-0.46	-0.18	-0.15	-0.04
Debt to NOPAT	0.00	-1.71	-0.19	-0.59	-0.20	-0.17	-0.11
Net Debt to NOPAT	0.00	0.99	3.86	11.45	2.85	1.81	0.77
Long-Term Debt to NOPAT	0.00	-1.63	-0.17	-0.52	-0.20	-0.17	-0.05
Altman Z-Score	0.00	2.20	13.00	7.06	4.20	2.31	1.63
Noncontrolling Interest Sharing Ratio	0.00%	1,249.50%	27.70%	-0.04%	-0.08%	-0.07%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.10	3.83	2.71	1.51	1.27	1.02
Quick Ratio	0.00	0.94	3.74	2.56	1.46	1.23	0.89
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-24	-361	-99	-251	-107	-101
Operating Cash Flow to CapEx	-3,591.32%	-2,997.41%	-2,257.15%	-847.97%	-986.73%	-436.02%	-798.69%
Free Cash Flow to Firm to Interest Expense	0.00	-2.98	-58.77	-21.98	-37.66	-17.25	-15.15
Operating Cash Flow to Interest Expense	-11.45	-6.54	-24.11	-29.17	-23.46	-9.35	-15.93
Operating Cash Flow Less CapEx to Interest Expense	-11.77	-6.76	-25.17	-32.61	-25.84	-11.50	-17.92
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	2.73	1.50	1.45	2.51	3.49	3.95
Accounts Receivable Turnover	0.00	8.43	6.95	6.08	6.02	6.19	7.02
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	188.71	194.85	164.15	181.69	217.44	221.42
Accounts Payable Turnover	0.00	0.00	13.85	15.68	0.00	26.34	35.03
Days Sales Outstanding (DSO)	0.00	43.31	52.53	60.05	60.67	59.01	52.01
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	26.35	23.27	0.00	13.86	10.42
Cash Conversion Cycle (CCC)	0.00	43.31	26.18	36.77	60.67	45.15	41.60
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-15	85	110	198	100	-123
Invested Capital Turnover	0.00	-157.59	43.65	24.48	28.01	40.61	-512.29
Increase / (Decrease) in Invested Capital	0.00	-15	101	25	88	-98	-224
Enterprise Value (EV)	0.00	1,342	9,622	5,802	4,632	412	35
Market Capitalization	1,072	1,072	10,629	6,647	5,096	783	286
Book Value per Share	$0.00	($0.88)	$2.77	$2.53	$1.63	$1.14	$0.31
Tangible Book Value per Share	$0.00	($1.20)	$2.53	$2.48	$1.41	$0.91	$0.15
Total Capital	0.00	92	1,140	1,084	693	506	162
Total Debt	0.00	68	48	43	32	35	35
Total Long-Term Debt	0.00	65	43	38	32	35	16
Net Debt	0.00	-39	-1,006	-844	-463	-371	-250
Capital Expenditures (CapEx)	2.89	1.78	6.56	15	16	13	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-76	-40	33	7.82	-100	-246
Debt-free Net Working Capital (DFNWC)	0.00	30	1,015	921	503	306	39
Net Working Capital (NWC)	0.00	27	1,010	916	503	306	20
Net Nonoperating Expense (NNE)	208	20	146	33	100	56	67
Net Nonoperating Obligations (NNO)	0.00	-40	-1,006	-931	-463	-371	-250
Total Depreciation and Amortization (D&A)	41	14	15	14	20	24	29
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-6.27%	-2.60%	1.40%	0.18%	-1.65%	-4.14%
Debt-free Net Working Capital to Revenue	0.00%	2.50%	66.73%	38.57%	11.65%	5.05%	0.67%
Net Working Capital to Revenue	0.00%	2.25%	66.40%	38.36%	11.65%	5.05%	0.34%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	401.18M	408.15M	408.92M	410.97M	413.97M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	401.18M	408.15M	408.92M	410.97M	413.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	372.93M	413.12M	409.54M	412.30M	414.87M
Normalized Net Operating Profit after Tax (NOPAT)	-75	-40	-261	-74	-162	-202	-299
Normalized NOPAT Margin	-9.39%	-3.26%	-17.13%	-3.09%	-3.76%	-3.33%	-5.04%
Pre Tax Income Margin	-14.44%	-5.12%	-25.17%	-3.80%	-4.51%	-4.11%	-6.81%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-11.65	-6.66	-60.21	-21.61	-30.68	-41.71	-59.57
NOPAT to Interest Expense	-8.23	-4.88	-42.40	-16.45	-24.41	-33.11	-48.83
EBIT Less CapEx to Interest Expense	-11.97	-6.88	-61.28	-25.05	-33.06	-43.85	-61.57
NOPAT Less CapEx to Interest Expense	-8.55	-5.09	-43.46	-19.89	-26.78	-35.25	-50.82
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.11%	-11.23%	0.00%	0.00%	-76.10%	0.00%	0.00%

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	413,951,779.00	414,423,149.00	414,581,604.00	414,869,759.00	16,683,786.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	413,951,779.00	414,423,149.00	414,581,604.00	16,594,790.00	16,683,786.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.25	-0.27	-0.46	2.95	1.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.21%	52.17%	38.69%	27.63%	44.16%	-4.46%	-5.92%	-1.08%	3.09%	-7.33%	7.15%
EBITDA Growth	-1,871.85%	-63.53%	-99.30%	-289.44%	38.10%	-231.04%	-209.33%	-2.85%	-55.28%	548.84%	133.37%
EBIT Growth	-1,252.13%	-115.48%	-76.05%	-246.75%	35.99%	-899.14%	-180.88%	-3.73%	-52.17%	255.83%	124.77%
NOPAT Growth	-1,066.50%	-1,577.59%	-49.68%	-239.77%	34.21%	-106.79%	-167.69%	1.67%	-79.30%	125.80%	114.80%
Net Income Growth	-307.58%	-137.81%	-82.57%	-273.58%	54.10%	300.73%	-240.39%	6.30%	-78.54%	303.86%	117.20%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	303.86%	116.48%
Operating Cash Flow Growth	-22.43%	21.44%	11.73%	40.83%	126.84%	33.05%	-87.45%	-135.67%	-225.08%	174.18%	-63.31%
Free Cash Flow Firm Growth	-486.45%	93.62%	97.58%	116.67%	110.97%	1,257.92%	2,666.19%	175.88%	294.66%	121.94%	21.15%
Invested Capital Growth	80.24%	0.91%	-7.94%	-37.32%	-49.42%	-44.51%	-61.56%	-85.71%	-223.10%	-155.00%	-99.52%
Revenue Q/Q Growth	-7.11%	64.17%	-7.58%	-2.15%	4.93%	0.68%	-8.99%	2.89%	9.35%	-9.50%	5.23%
EBITDA Q/Q Growth	-431.19%	103.20%	-815.14%	-241.24%	15.57%	93.64%	-1,588.08%	-13.46%	-27.46%	118.38%	25.51%
EBIT Q/Q Growth	-363.11%	99.13%	-2,894.01%	-205.03%	14.51%	87.20%	-741.68%	-12.65%	-25.41%	113.10%	33.78%
NOPAT Q/Q Growth	-318.13%	93.08%	-305.38%	-208.02%	19.03%	79.55%	-424.77%	-13.14%	-47.65%	102.94%	201.03%
Net Income Q/Q Growth	-632.09%	97.38%	-408.15%	-283.59%	10.05%	111.45%	-961.71%	-5.59%	-71.39%	125.90%	-63.29%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-64.63%
Operating Cash Flow Q/Q Growth	-369.86%	21.89%	60.82%	58.84%	313.15%	-294.82%	-9.69%	48.26%	-13.13%	215.54%	-341.47%
Free Cash Flow Firm Q/Q Growth	-4.91%	94.97%	59.50%	882.58%	-30.97%	429.29%	-10.25%	-15.87%	-1.25%	197.65%	-51.01%
Invested Capital Q/Q Growth	-41.17%	46.67%	1.37%	-30.53%	-52.53%	65.98%	-29.77%	-74.17%	-508.82%	25.84%	100.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	300.23%	100.00%	2.17%	-4.42%	-102.96%	3.31%	-3.76%	100.00%	-101.54%	4.58%	7.17%
EBITDA Margin	-14.37%	0.28%	-2.20%	-7.67%	-6.17%	-0.39%	-7.23%	-7.97%	-9.29%	1.89%	2.25%
Operating Margin	-15.56%	-0.45%	-2.92%	-9.20%	-7.10%	-1.44%	-8.32%	-9.15%	-12.35%	0.28%	0.79%
EBIT Margin	-14.85%	-0.08%	-2.60%	-8.09%	-6.59%	-0.84%	-7.75%	-8.49%	-9.74%	1.41%	1.79%
Profit (Net Income) Margin	-21.82%	-0.38%	-2.07%	-8.11%	-6.95%	0.79%	-7.48%	-7.68%	-12.03%	3.44%	1.20%
Tax Burden Percent	138.12%	-193.77%	101.38%	100.51%	101.07%	-715.84%	100.06%	99.70%	100.71%	163.36%	102.13%
Interest Burden Percent	106.38%	-242.15%	78.55%	99.64%	104.25%	13.17%	96.45%	90.73%	122.76%	149.56%	65.64%
Effective Tax Rate	0.00%	-4.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.09%	-2.13%
Return on Invested Capital (ROIC)	-305.03%	-7.60%	-34.07%	-131.47%	-201.83%	-25.94%	-163.26%	-312.20%	0.00%	43.70%	81.08%
ROIC Less NNEP Spread (ROIC-NNEP)	-288.46%	-7.85%	-34.00%	-126.09%	-194.60%	-33.57%	-156.29%	-306.47%	0.00%	28.90%	78.79%
Return on Net Nonoperating Assets (RNNOA)	236.21%	5.20%	20.13%	78.30%	143.29%	20.40%	95.65%	222.49%	0.00%	-25.72%	-64.26%
Return on Equity (ROE)	-68.82%	-2.40%	-13.93%	-53.16%	-58.54%	-5.53%	-67.61%	-89.70%	-130.95%	17.98%	16.83%
Cash Return on Invested Capital (CROIC)	-162.71%	-57.11%	-47.83%	-43.08%	-71.38%	-34.93%	-37.39%	-68.97%	0.00%	0.00%	-170.68%
Operating Return on Assets (OROA)	-37.29%	-0.17%	-6.07%	-20.73%	-23.00%	-2.36%	-23.61%	-27.09%	-38.43%	4.77%	6.42%
Return on Assets (ROA)	-54.80%	-0.82%	-4.84%	-20.76%	-24.24%	2.23%	-22.78%	-24.51%	-47.51%	11.66%	4.30%
Return on Common Equity (ROCE)	-68.88%	-2.40%	-13.95%	-53.19%	-58.58%	-5.54%	-67.66%	-89.70%	-130.95%	17.98%	16.83%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-41.32%	-44.14%	-66.94%	0.00%	-48.37%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-115	-7.48	-30	-93	-76	-15	-81	-92	-136	3.99	12
NOPAT Margin	-10.89%	-0.47%	-2.05%	-6.44%	-4.97%	-1.01%	-5.82%	-6.40%	-8.64%	0.28%	0.80%
Net Nonoperating Expense Percent (NNEP)	-16.57%	0.25%	-0.07%	-5.38%	-7.23%	7.64%	-6.97%	-5.73%	-17.14%	14.81%	2.29%
Return On Investment Capital (ROIC_SIMPLE)	-16.59%	-	-	-	-14.96%	-2.89%	-18.30%	-26.94%	-83.90%	1.89%	4.66%
Cost of Revenue to Revenue	-200.23%	0.00%	97.83%	104.42%	202.96%	96.69%	103.76%	0.00%	201.54%	95.42%	92.83%
SG&A Expenses to Revenue	6.13%	4.76%	4.69%	4.35%	3.92%	4.30%	4.03%	3.92%	3.83%	3.82%	5.92%
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	315.79%	100.45%	5.09%	4.78%	-95.86%	4.75%	4.56%	109.15%	-89.19%	4.30%	6.38%
Earnings before Interest and Taxes (EBIT)	-157	-1.29	-39	-117	-100	-13	-108	-122	-153	20	27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-152	4.56	-33	-111	-94	-5.97	-101	-114	-146	27	34
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.70	3.59	3.98	2.81	1.66	3.57	2.33	1.39	2.25	0.72	7.86
Price to Tangible Book Value (P/TBV)	8.88	4.18	4.66	3.39	2.09	4.38	2.98	2.07	4.68	1.10	10.68
Price to Revenue (P/Rev)	1.18	0.51	0.51	0.29	0.13	0.30	0.16	0.07	0.05	0.02	0.30
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	23.37	6.96	7.62	5.93	4.11	8.72	5.65	5.00	0.00	0.00	2,763.20
Enterprise Value to Revenue (EV/Rev)	1.07	0.43	0.44	0.22	0.07	0.24	0.11	0.03	0.01	0.00	0.26
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	0.05	0.05	0.06	0.07	0.07	0.09	0.11	0.28	0.17	0.13
Long-Term Debt to Equity	0.05	0.04	0.04	0.06	0.07	0.00	0.00	0.00	0.12	0.08	0.07
Financial Leverage	-0.82	-0.66	-0.59	-0.62	-0.74	-0.61	-0.61	-0.73	-1.04	-0.89	-0.82
Leverage Ratio	2.02	2.53	2.90	3.02	3.07	3.57	3.57	4.19	5.03	5.04	5.19
Compound Leverage Factor	2.15	-6.14	2.28	3.01	3.20	0.47	3.45	3.80	6.17	7.54	3.41
Debt to Total Capital	4.66%	5.14%	5.07%	5.72%	6.90%	6.53%	7.87%	10.25%	21.63%	14.20%	11.75%
Short-Term Debt to Total Capital	0.00%	1.03%	1.23%	0.00%	0.00%	6.53%	7.87%	10.25%	11.90%	6.97%	5.79%
Long-Term Debt to Total Capital	4.66%	4.11%	3.84%	5.72%	6.90%	0.00%	0.00%	0.00%	9.74%	7.23%	5.96%
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	-0.12%	-0.11%	-0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.46%	94.96%	95.04%	94.28%	93.10%	93.47%	92.13%	89.75%	78.37%	85.80%	88.25%
Debt to EBITDA	-0.18	-0.19	-0.17	-0.12	-0.15	-0.14	-0.11	-0.11	-0.10	-0.09	-0.15
Net Debt to EBITDA	2.51	2.02	1.79	1.25	1.59	1.37	0.94	0.88	0.68	0.82	1.14
Long-Term Debt to EBITDA	-0.18	-0.16	-0.13	-0.12	-0.15	0.00	0.00	0.00	-0.04	-0.05	-0.08
Debt to NOPAT	-0.20	-0.22	-0.20	-0.14	-0.17	-0.16	-0.13	-0.13	-0.11	-0.10	-0.14
Net Debt to NOPAT	2.85	2.32	2.09	1.49	1.81	1.55	1.10	1.04	0.77	0.89	1.05
Long-Term Debt to NOPAT	-0.20	-0.18	-0.15	-0.14	-0.17	0.00	0.00	0.00	-0.05	-0.05	-0.07
Altman Z-Score	4.29	2.47	2.86	2.37	2.61	2.85	2.45	2.14	2.26	2.21	2.96
Noncontrolling Interest Sharing Ratio	-0.08%	-0.08%	-0.10%	-0.05%	-0.07%	-0.07%	-0.07%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.51	1.33	1.36	1.29	1.27	1.20	1.16	1.08	1.02	1.04	1.08
Quick Ratio	1.46	1.30	1.33	1.25	1.23	1.17	1.10	1.01	0.89	0.89	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-203	-10	-4.13	32	22	118	106	89	88	262	128
Operating Cash Flow to CapEx	-1,555.60%	-1,522.01%	-565.13%	-217.97%	502.73%	-831.05%	-1,079.54%	-571.78%	-691.95%	765.17%	-1,662.23%
Free Cash Flow to Firm to Interest Expense	-101.99	-7.94	-2.43	19.92	14.17	77.90	67.38	48.49	51.28	144.64	79.81
Operating Cash Flow to Interest Expense	-30.69	-37.21	-11.03	-4.75	10.43	-21.11	-22.32	-9.88	-11.97	13.10	-35.63
Operating Cash Flow Less CapEx to Interest Expense	-32.66	-39.65	-12.98	-6.93	8.36	-23.65	-24.39	-11.60	-13.70	11.39	-37.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.51	2.17	2.34	2.56	3.49	2.82	3.04	3.19	3.95	3.39	3.58
Accounts Receivable Turnover	6.02	3.78	3.70	4.12	6.19	4.26	4.75	5.08	7.02	5.44	5.62
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	181.69	195.95	202.19	205.68	217.44	215.33	213.69	216.61	221.42	219.74	228.03
Accounts Payable Turnover	0.00	0.00	1.62	3.34	26.34	25.08	26.53	33.00	35.03	34.71	39.55
Days Sales Outstanding (DSO)	60.67	96.61	98.65	88.54	59.01	85.65	76.83	71.80	52.01	67.08	64.95
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	225.47	109.15	13.86	14.55	13.76	11.06	10.42	10.52	9.23
Cash Conversion Cycle (CCC)	60.67	96.61	-126.82	-20.61	45.15	71.10	63.07	60.74	41.60	56.57	55.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	198	300	304	211	100	166	117	30	-123	-92	0.57
Invested Capital Turnover	28.01	16.30	16.65	20.41	40.61	25.69	28.04	48.76	-512.29	155.46	100.82
Increase / (Decrease) in Invested Capital	88	2.71	-26	-126	-98	-133	-187	-181	-224	-258	-116
Enterprise Value (EV)	4,632	2,087	2,317	1,253	412	1,451	660	151	35	-142	1,561
Market Capitalization	5,096	2,477	2,690	1,617	783	1,785	952	427	286	131	1,788
Book Value per Share	$1.63	$1.69	$1.65	$1.40	$1.14	$1.21	$0.99	$0.74	$0.31	$0.44	$13.64
Tangible Book Value per Share	$1.41	$1.45	$1.40	$1.16	$0.91	$0.99	$0.77	$0.50	$0.15	$0.29	$10.03
Total Capital	693	726	712	610	506	535	444	341	162	211	258
Total Debt	32	37	36	35	35	35	35	35	35	30	30
Total Long-Term Debt	32	30	27	35	35	0.00	0.00	0.00	16	15	15
Net Debt	-463	-389	-372	-364	-371	-334	-292	-276	-250	-273	-227
Capital Expenditures (CapEx)	3.93	3.14	3.31	3.53	3.27	3.85	3.25	3.18	2.97	3.10	3.45
Debt-free, Cash-free Net Working Capital (DFCFNWC)	7.82	92	97	4.05	-100	-58	-88	-178	-246	-239	-136
Debt-free Net Working Capital (DFNWC)	503	518	505	403	306	311	239	133	39	64	121
Net Working Capital (NWC)	503	510	497	403	306	276	204	98	20	49	106
Net Nonoperating Expense (NNE)	115	-1.45	0.32	24	30	-28	23	18	53	-45	-5.93
Net Nonoperating Obligations (NNO)	-463	-389	-372	-364	-371	-334	-292	-276	-250	-273	-227
Total Depreciation and Amortization (D&A)	5.15	5.84	5.91	6.22	6.49	6.88	7.32	7.43	6.97	6.79	6.86
Debt-free, Cash-free Net Working Capital to Revenue	0.18%	1.89%	1.85%	0.07%	-1.65%	-0.97%	-1.50%	-3.02%	-4.14%	-4.11%	-2.30%
Debt-free Net Working Capital to Revenue	11.65%	10.64%	9.57%	7.20%	5.05%	5.19%	4.04%	2.26%	0.67%	1.09%	2.05%
Net Working Capital to Revenue	11.65%	10.48%	9.41%	7.20%	5.05%	4.61%	3.45%	1.67%	0.34%	0.84%	1.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.95	$1.07
Adjusted Weighted Average Basic Shares Outstanding	408.92M	408.94M	411.27M	411.59M	410.97M	412.94M	413.84M	414.47M	413.97M	16.60M	16.71M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.94	$1.04
Adjusted Weighted Average Diluted Shares Outstanding	408.92M	413.44M	411.27M	411.59M	410.97M	412.94M	413.84M	414.47M	413.97M	16.66M	17.21M
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	409.54M	411.26M	411.48M	412.02M	412.30M	413.95M	414.42M	414.58M	414.87M	16.68M	16.79M
Normalized Net Operating Profit after Tax (NOPAT)	-115	-5.02	-30	-93	-76	-15	-81	-92	-136	3.99	8.24
Normalized NOPAT Margin	-10.89%	-0.31%	-2.05%	-6.44%	-4.97%	-1.01%	-5.82%	-6.40%	-8.64%	0.28%	0.55%
Pre Tax Income Margin	-15.80%	0.19%	-2.04%	-8.07%	-6.88%	-0.11%	-7.48%	-7.70%	-11.95%	2.11%	1.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-78.71	-1.00	-22.69	-72.41	-63.79	-8.48	-68.80	-66.29	-89.04	11.06	16.66
NOPAT to Interest Expense	-57.71	-5.83	-17.88	-57.62	-48.08	-10.22	-51.67	-50.00	-79.07	2.21	7.48
EBIT Less CapEx to Interest Expense	-80.68	-3.45	-24.64	-74.59	-65.86	-11.02	-70.86	-68.01	-90.77	9.34	14.51
NOPAT Less CapEx to Interest Expense	-59.68	-8.27	-19.83	-59.80	-50.15	-12.76	-53.73	-51.72	-80.80	0.49	5.33
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-76.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Agilon Health’s latest quarter shows a notable improvement in profitability and cash generation versus the weak results seen through much of 2024 and 2025. In Q1 2026, the company posted revenue growth, positive operating income, and strong net income, while also generating positive operating cash flow. However, the balance sheet remains highly leveraged on a working-capital basis, with current liabilities still exceeding current assets by a wide margin.

Q1 2026 revenue rose to $1.42 billion, up from $1.57 billion in Q4 2025 and $1.44 billion in Q3 2025, showing the business is still producing a large top line.
The company swung to positive operating income of $4.0 million in Q1 2026, compared with an operating loss of $193.8 million in Q4 2025 and $131.3 million in Q3 2025.
Q1 2026 net income attributable to common shareholders was $48.9 million, a sharp improvement from the $188.9 million loss in Q4 2025 and the $110.2 million loss in Q3 2025.
Operating cash flow turned positive at $23.7 million in Q1 2026, versus negative $20.5 million in Q4 2025 and negative $18.2 million in Q3 2025.
Cash and short-term investments remained substantial, with $139.9 million in cash and equivalents and $91.4 million in short-term investments at the end of Q1 2026.
The company’s long-term debt was relatively low at $15.3 million, and long-term debt was also minimal in the prior quarter, suggesting limited traditional leverage.
Revenue has been relatively stable over the last several quarters, but the more important trend is the sharp swing in profitability, which has been volatile.
The company still carries a very large accounts receivable balance of $899.7 million, which is a major component of working capital and worth watching for collections quality.
Despite the strong quarter, current liabilities totaled $1.27 billion versus $1.32 billion in current assets, leaving working capital under pressure.
The balance sheet remains dependent on a large “other current liabilities” balance of $1.06 billion, which keeps short-term obligations elevated.

Longer-term, the trend has been mixed. In 2024 and much of 2025, Agilon repeatedly reported operating losses and negative operating cash flow, with some quarters showing very heavy cost pressures. That makes the Q1 2026 improvement encouraging, but investors should view it as a turnaround signal rather than proof of a durable recovery.

Bottom line: Agilon Health’s latest quarter was meaningfully better on earnings and cash flow, but the company is still balancing a fragile working-capital position and a history of volatile profitability. For retail investors, the key question is whether Q1 2026 represents the start of a sustained recovery or just a strong quarter inside a still-unsteady business model.

08/16/26 04:30 AM ETAI Generated. May Contain Errors.

Agilon Health Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Agilon Health's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Agilon Health's net income appears to be on an upward trend, with a most recent value of -$391.35 million in 2025, rising from -$282.74 million in 2019. The previous period was -$260.10 million in 2024. See Agilon Health's forecast for analyst expectations on what's next for the company.

Agilon Health's total operating income in 2025 was -$463.24 million, based on the following breakdown:

Total Gross Profit: -$160.02 million
Total Operating Expenses: $303.22 million

Over the last 6 years, Agilon Health's total revenue changed from $794.41 million in 2019 to $5.93 billion in 2025, a change of 646.8%.

Agilon Health's total liabilities were at $1.14 billion at the end of 2025, a 9.4% decrease from 2024, and a 171.5% increase since 2020.

In the past 5 years, Agilon Health's cash and equivalents has ranged from $106.80 million in 2020 to $1.04 billion in 2021, and is currently $173.71 million as of their latest financial filing in 2025.

Over the last 6 years, Agilon Health's book value per share changed from 0.00 in 2019 to 0.31 in 2025, a change of 30.6%.

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Financial statements for NYSE:AGL last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Agilon Health (AGL) Financials

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Agilon Health (AGL) Financials

Annual Income Statements for Agilon Health

Quarterly Income Statements for Agilon Health

Annual Cash Flow Statements for Agilon Health

Quarterly Cash Flow Statements for Agilon Health

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Quarterly Balance Sheets for Agilon Health

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Quarterly Metrics And Ratios for Agilon Health

Financials Breakdown Chart

Key Financial Trends

Agilon Health Financials - Frequently Asked Questions

When does Agilon Health's fiscal year end?

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

What is Agilon Health's operating income?

How has Agilon Health's revenue changed over the last 6 years?

How much debt does Agilon Health have?

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

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