Encompass Health (EHC) Financials

$107.36 -0.13 (-0.12%)

Closing price 03:59 PM Eastern

Extended Trading

$103.84 -3.52 (-3.27%)

As of 04:59 PM Eastern

Annual Income Statements for Encompass Health

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	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	182	248	271	375	359	284	412	271	352	456	566
Consolidated Net Income / (Loss)	183	248	271	292	446	369	517	366	463	597	759
Net Income / (Loss) Continuing Operations	254	318	351	374	446	278	403	351	475	599	760
Total Pre-Tax Income	396	482	496	493	562	353	505	451	607	750	953
Total Operating Income	547	649	649	630	693	528	659	630	732	865	1,053
Total Gross Profit	1,445	1,657	1,759	1,923	1,950	1,601	1,829	1,901	2,145	2,415	2,760
Total Revenue	3,163	3,643	3,914	4,277	4,605	3,566	4,015	4,349	4,801	5,373	5,935
Operating Revenue	3,163	3,643	3,914	4,277	4,605	3,566	4,015	4,349	4,801	5,373	5,935
Total Cost of Revenue	1,718	1,986	2,155	2,354	2,655	1,965	2,186	2,448	2,656	2,958	3,175
Operating Cost of Revenue	1,671	1,986	2,155	2,354	2,655	1,965	2,186	2,448	2,656	2,958	3,175
Total Operating Expenses	898	1,008	1,110	1,294	1,257	1,074	1,169	1,270	1,413	1,550	1,707
Selling, General & Admin Expense	697	764	853	964	1,039	868	950	1,027	1,139	1,251	1,379
Depreciation Expense	140	173	184	200	219	203	220	244	274	300	328
Total Other Income / (Expense), net	-151	-167	-153	-136	-130	-175	-154	-179	-125	-115	-100
Interest Expense	165	180	165	147	167	186	165	177	144	138	123
Interest & Investment Income	8.70	9.80	8.00	8.70	6.70	2.90	3.40	2.90	3.20	3.00	4.30
Other Income / (Expense), net	5.50	2.90	4.10	2.20	31	8.40	7.50	-5.20	16	20	19
Income Tax Expense	142	164	146	119	116	75	102	100	132	150	193
Net Income / (Loss) Discontinued Operations	-0.90	0.00	-0.40	1.10	-0.60	91	114	15	-12	-2.80	-1.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	87	85	105	95	111	141	193
Basic Earnings per Share	$2.02	$2.77	$2.88	$2.98	$3.65	$2.87	$4.15	$2.72	$3.51	$4.53	$5.62
Weighted Average Basic Shares Outstanding	89.40M	89.10M	93.70M	97.90M	98M	98.60M	99M	99.20M	99.50M	99.90M	100.50M
Diluted Earnings per Share	$1.91	$2.59	$2.84	$2.93	$3.61	$2.85	$4.11	$2.70	$3.47	$4.46	$5.54
Weighted Average Diluted Shares Outstanding	101M	99.50M	99.30M	99.80M	99.40M	99.80M	100.20M	100.40M	101.30M	102.20M	102.20M
Weighted Average Basic & Diluted Shares Outstanding	89.78M	89.05M	99.30M	98.10M	98.43M	99.27M	99.44M	99.73M	100.14M	100.71M	99.42M
Cash Dividends to Common per Share	$0.88	$0.94	$0.98	$1.04	$1.10	$1.12	$1.12	$0.86	$0.60	$0.64	$0.72

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	85	88	113	114	108	121	152	142	127	146	195
Consolidated Net Income / (Loss)	113	119	139	147	147	164	197	185	175	203	248
Net Income / (Loss) Continuing Operations	115	128	140	148	148	164	197	186	175	202	232
Total Pre-Tax Income	145	165	178	186	184	201	239	237	220	258	289
Total Operating Income	179	190	208	216	209	232	267	259	244	283	302
Total Gross Profit	534	557	590	587	605	634	678	675	678	729	753
Total Revenue	1,207	1,247	1,316	1,301	1,351	1,405	1,455	1,458	1,478	1,545	1,587
Operating Revenue	1,207	1,247	1,316	1,301	1,351	1,405	1,455	1,458	1,478	1,545	1,587
Total Cost of Revenue	673	690	726	715	747	772	777	782	800	816	833
Operating Cost of Revenue	673	690	726	715	747	772	777	782	800	816	833
Total Operating Expenses	355	367	383	371	395	401	411	416	434	446	452
Selling, General & Admin Expense	287	297	313	298	317	323	332	336	352	359	364
Depreciation Expense	67	70	70	73	78	78	79	80	82	86	87
Total Other Income / (Expense), net	-34	-25	-29	-30	-25	-31	-28	-22	-24	-26	-13
Interest Expense	36	35	35	34	35	33	32	30	31	30	32
Interest & Investment Income	1.00	0.90	0.70	1.40	0.70	0.20	0.90	1.40	1.20	0.80	0.40
Other Income / (Expense), net	0.50	8.90	5.40	3.30	9.30	2.10	2.50	6.70	5.90	3.70	19
Income Tax Expense	30	37	38	38	36	38	42	51	45	55	56
Net Income / (Loss) Discontinued Operations	-1.30	-8.50	-2.60	-1.20	-0.70	0.40	-0.50	-0.90	-0.40	0.80	16
Net Income / (Loss) Attributable to Noncontrolling Interest	28	32	26	32	39	43	45	43	48	57	54
Basic Earnings per Share	$0.85	$0.88	$1.12	$1.13	$1.08	$1.20	$1.50	$1.41	$1.26	$1.45	$1.96
Weighted Average Basic Shares Outstanding	99.50M	99.50M	99.80M	99.90M	99.90M	99.90M	100.50M	100.60M	100.50M	100.50M	99.20M
Diluted Earnings per Share	$0.84	$0.88	$1.10	$1.12	$1.06	$1.18	$1.48	$1.39	$1.24	$1.43	$1.93
Weighted Average Diluted Shares Outstanding	101.40M	101.30M	102.20M	102M	102.10M	102.20M	102.10M	102.30M	102.30M	102.20M	100.60M
Weighted Average Basic & Diluted Shares Outstanding	100.24M	100.14M	100.69M	100.63M	100.75M	100.71M	100.80M	100.72M	100.62M	99.42M	99.20M
Cash Dividends to Common per Share	$0.15	$0.38	$0.15	$0.15	$0.17	-	$0.17	$0.17	$0.19	-	$0.19

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	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	-5.10	-6.10	15	17	26	151	-191	-67	51	19	-20
Net Cash From Operating Activities	502	640	658	762	635	705	716	706	851	1,003	1,176
Net Cash From Continuing Operating Activities	502	640	658	762	640	705	716	706	851	1,003	1,176
Net Income / (Loss) Continuing Operations	254	318	351	374	446	278	403	351	475	599	760
Consolidated Net Income / (Loss)	253	318	350	375	446	369	517	366	463	597	759
Net Income / (Loss) Discontinued Operations	-0.90	0.00	0.40	1.10	-0.60	91	114	15	-12	-2.80	-1.00
Depreciation Expense	140	173	184	200	219	203	220	244	274	300	328
Amortization Expense	14	14	8.70	4.00	4.50	7.20	7.80	9.70	9.50	9.70	9.60
Non-Cash Adjustments To Reconcile Net Income	97	33	62	148	110	74	178	104	38	62	51
Changes in Operating Assets and Liabilities, net	-2.80	103	53	37	-140	143	-93	-2.50	54	33	27
Net Cash From Investing Activities	-1,130	-230	-283	-425	-657	-408	-666	-627	-603	-653	-765
Net Cash From Continuing Investing Activities	-1,130	-230	-283	-425	-657	-405	-547	-624	-603	-653	-765
Purchase of Property, Plant & Equipment	-157	-203	-245	-271	-385	-401	-546	-584	-583	-643	-736
Purchase of Investments	-7.10	-1.30	-8.50	-13	-33	-8.70	-9.00	-35	-23	-23	-184
Sale and/or Maturity of Investments	13	0.10	4.20	12	18	13	-	0.00	7.40	19	173
Other Investing Activities, net	1.60	-1.70	8.80	-2.70	-6.50	-3.80	7.60	-4.20	-4.10	-7.20	-17
Net Cash From Financing Activities	623	-416	-360	-321	48	-146	-240	-146	-197	-331	-431
Net Cash From Continuing Financing Activities	623	-416	-360	-321	48	-134	-230	-661	-197	-331	-431
Repayment of Debt	-1,376	-529	-480	-429	-1,169	-1,126	-315	-755	-162	-335	-242
Repurchase of Common Equity	-45	-66	-38	0.00	-46	-6.10	-	0.00	0.00	-31	-158
Payment of Dividends	-132	-149	-143	-241	-351	-345	-213	-196	-175	-188	-223
Issuance of Debt	2,190	335	274	344	1,635	1,323	300	252	80	95	210
Issuance of Common Equity	3.00	3.50	21	13	16	35	57	64	68	140	1.80
Other Financing Activities, net	-17	-12	6.80	-8.30	-36	-15	-59	-27	-8.20	-12	-20
Cash Interest Paid	121	164	151	150	156	168	168	178	148	147	133

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
Net Change in Cash & Equivalents	-13	-37	69	9.40	17	-76	-0.30	15	-44	9.20	61
Net Cash From Operating Activities	215	201	239	217	268	279	289	270	271	346	313
Net Cash From Continuing Operating Activities	215	201	239	217	268	279	289	270	271	346	313
Net Income / (Loss) Continuing Operations	115	128	140	148	148	164	197	186	175	202	232
Consolidated Net Income / (Loss)	113	119	139	147	147	164	197	185	175	203	248
Net Income / (Loss) Discontinued Operations	-1.30	-8.50	-1.30	-1.20	-0.70	0.40	-0.50	-0.90	-0.40	0.80	16
Depreciation Expense	67	70	70	73	78	78	79	80	82	86	87
Non-Cash Adjustments To Reconcile Net Income	19	-4.40	24	11	11	16	11	12	14	15	19
Changes in Operating Assets and Liabilities, net	14	-1.80	4.90	-14	30	11	1.30	-7.40	-0.30	33	-25
Net Cash From Investing Activities	-162	-208	-130	-158	-162	-204	-159	-165	-201	-239	-150
Net Cash From Continuing Investing Activities	-162	-208	-130	-158	-162	-204	-159	-165	-201	-239	-150
Purchase of Property, Plant & Equipment	-150	-212	-139	-157	-148	-199	-163	-157	-187	-229	-162
Purchase of Investments	-	-1.90	-	-	-	-2.50	-2.30	-	-38	-19	-26
Sale and/or Maturity of Investments	6.00	0.40	16	1.00	0.90	1.00	11	121	28	13	43
Other Investing Activities, net	2.60	5.10	-6.30	-2.50	5.10	-3.50	-4.10	-1.70	-4.10	-4.40	-4.20
Net Cash From Financing Activities	-66	-30	-41	-50	-90	-151	-130	-90	-113	-97	-103
Net Cash From Continuing Financing Activities	-66	-30	-41	-50	-90	-151	-130	-90	-113	-97	-103
Repayment of Debt	9.60	-42	-56	-5.00	-140	-134	-88	-7.90	-115	-31	-342
Repurchase of Common Equity	-	-	0.00	-	-6.80	-7.50	-32	-25	-25	-76	-72
Payment of Dividends	-48	-38	-41	-43	-48	-57	-51	-58	-53	-62	-78
Issuance of Debt	-	-	50	-	15	30	60	-	80	70	420
Other Financing Activities, net	-36	36	-12	-	-16	16	-20	-0.10	-	-0.10	-31

This table presents Encompass 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4,606	4,682	2,089	5,175	6,081	6,446	6,865	5,637	6,102	6,535	7,090
Total Current Assets	599	655	117	662	756	949	921	717	842	887	906
Cash & Equivalents	62	41	54	69	95	224	49	22	69	85	72
Restricted Cash	46	61	62	-	57	65	63	32	35	38	31
Accounts Receivable	411	444	-	468	506	573	516	537	612	599	619
Other Current Assets	-	-	-	59	-	-	-	92	92	123	184
Plant, Property, & Equipment, net	1,310	1,392	0.00	1,635	0.00	0.00	0.00	0.00	0.00	0.00	4,102
Total Noncurrent Assets	2,697	2,636	1,973	2,878	5,325	5,497	5,944	4,919	5,261	5,648	2,082
Goodwill	1,890	1,927	1,973	2,101	2,305	2,319	1,237	1,263	1,281	1,284	1,318
Intangible Assets	419	411	-	443	476	431	158	282	278	298	308
Other Noncurrent Operating Assets	197	221	-	291	2,541	2,747	3,005	3,374	3,701	4,066	456
Total Liabilities & Shareholders' Equity	4,606	4,682	0.00	5,175	6,081	6,446	6,865	5,637	6,102	6,535	7,090
Total Liabilities	3,706	3,615	0.00	3,356	4,148	4,444	4,466	3,775	3,805	3,686	3,814
Total Current Liabilities	426	476	0.00	673	721	717	749	576	656	841	836
Short-Term Debt	37	37	-	36	39	38	38	25	25	139	44
Accounts Payable	62	68	-	90	95	115	134	133	170	171	178
Other Current Liabilities	172	197	-	334	344	263	201	207	212	272	615
Total Noncurrent Liabilities	3,279	3,139	0.00	2,684	3,427	3,727	3,717	3,199	3,149	2,845	2,978
Long-Term Debt	3,135	2,979	-	2,479	3,023	3,251	3,241	2,742	2,688	2,359	2,447
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	0.00	52	23	83	87	105	127
Other Noncurrent Operating Liabilities	43	50	-	86	287	303	229	245	242	242	404
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	121	138	-	262	240	32	42	36	42	57	58
Total Equity & Noncontrolling Interests	779	929	0.00	1,557	1,693	1,970	2,357	1,826	2,255	2,793	3,218
Total Preferred & Common Equity	611	736	0.00	1,277	1,352	1,588	1,911	1,310	1,648	2,067	0.00
Total Common Equity	611	736	0.00	1,277	1,352	1,588	1,911	1,310	1,648	2,067	0.00
Noncontrolling Interest	168	193	-	280	341	382	446	516	608	726	3,218

This table presents Encompass 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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	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
Total Assets	5,476	5,747	5,861	5,964	6,231	6,389	6,458	6,641	6,786	6,866	7,313
Total Current Assets	734	762	824	814	930	938	934	911	918	870	1,029
Cash & Equivalents	60	85	118	100	134	154	148	96	99	49	111
Restricted Cash	44	34	37	42	38	28	51	27	38	45	53
Accounts Receivable	500	515	532	536	619	590	576	623	613	611	676
Other Current Assets	130	128	138	137	138	166	159	165	168	165	190
Plant, Property, & Equipment, net	2,807	2,988	0.00	3,186	3,370	3,439	3,524	3,724	3,820	3,926	4,217
Total Noncurrent Assets	1,935	1,997	5,037	1,964	1,931	2,012	2,001	2,007	2,047	2,070	2,068
Goodwill	1,247	1,271	1,271	1,281	1,281	1,284	1,284	1,284	1,303	1,303	1,318
Intangible Assets	285	287	278	276	272	303	296	295	296	292	300
Other Noncurrent Operating Assets	402	439	3,488	407	378	425	421	428	448	476	450
Total Liabilities & Shareholders' Equity	5,476	5,747	5,861	5,964	6,231	6,389	6,458	6,641	6,786	6,866	7,313
Total Liabilities	3,728	3,784	3,804	3,775	3,828	3,859	3,733	3,704	3,698	3,679	3,946
Total Current Liabilities	605	592	655	639	680	695	897	856	865	762	877
Short-Term Debt	26	26	23	24	26	33	233	139	139	39	43
Accounts Payable	134	141	156	165	166	164	170	159	175	138	204
Other Current Liabilities	444	393	442	450	489	498	494	558	551	585	630
Total Noncurrent Liabilities	3,123	3,192	3,149	3,136	3,148	3,164	2,835	2,848	2,832	2,917	3,069
Long-Term Debt	2,719	2,723	2,698	2,693	2,683	2,684	2,345	2,333	2,320	2,394	2,531
Noncurrent Deferred & Payable Income Tax Liabilities	47	87	83	80	94	91	97	114	111	108	135
Other Noncurrent Operating Liabilities	357	383	368	363	372	389	394	401	402	416	403
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	38	38	39	42	41	49	57	56	55	54	59
Total Equity & Noncontrolling Interests	1,710	1,926	2,018	2,148	2,362	2,481	2,669	2,882	3,033	3,132	3,308
Total Preferred & Common Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	1,710	1,926	2,018	2,148	2,362	2,481	2,669	2,882	3,033	3,132	3,308

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	100,615,977.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	100,615,977.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	5.63
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	31.46%	15.17%	7.45%	9.28%	7.66%	-22.56%	12.58%	8.31%	10.41%	11.91%	10.46%
EBITDA Growth	14.09%	18.68%	0.94%	-1.24%	13.25%	-21.14%	19.85%	-1.79%	17.37%	15.81%	18.05%
EBIT Growth	10.75%	18.02%	0.28%	-3.32%	14.43%	-25.86%	24.42%	-6.28%	19.60%	18.34%	21.17%
NOPAT Growth	5.08%	22.13%	7.12%	4.18%	15.06%	-24.35%	26.55%	-6.85%	16.77%	20.75%	21.51%
Net Income Growth	-17.52%	35.23%	9.49%	7.82%	52.51%	-17.27%	40.24%	-29.25%	26.54%	28.86%	27.24%
EPS Growth	-16.59%	35.60%	9.65%	3.17%	23.21%	-17.27%	40.24%	-34.31%	28.52%	28.53%	24.22%
Operating Cash Flow Growth	12.83%	27.53%	2.83%	15.81%	-16.67%	10.92%	1.58%	-1.40%	20.54%	17.87%	17.23%
Free Cash Flow Firm Growth	-70.65%	150.18%	501.68%	-173.70%	97.96%	749.69%	497.54%	-100.47%	3,648.60%	55.41%	-3.72%
Invested Capital Growth	41.76%	0.34%	-50.78%	117.39%	13.69%	3.54%	-18.36%	12.06%	7.14%	6.35%	8.42%
Revenue Q/Q Growth	9.18%	0.17%	3.26%	2.08%	1.96%	-22.71%	9.54%	17.62%	2.33%	3.03%	2.41%
EBITDA Q/Q Growth	11.06%	2.90%	2.53%	-5.61%	7.52%	-13.60%	3.65%	18.56%	2.69%	4.66%	5.28%
EBIT Q/Q Growth	8.25%	1.15%	1.46%	-8.67%	8.43%	-14.19%	-1.58%	24.06%	1.45%	4.19%	5.17%
NOPAT Q/Q Growth	3.04%	3.98%	4.33%	-10.48%	10.99%	-14.19%	0.21%	20.70%	0.92%	6.45%	4.17%
Net Income Q/Q Growth	-8.27%	6.68%	20.54%	-9.22%	39.66%	-24.66%	18.76%	6.83%	-4.14%	8.18%	5.40%
EPS Q/Q Growth	3.24%	7.92%	2.90%	-14.33%	-12.38%	-24.66%	18.76%	-1.82%	-2.53%	5.44%	4.73%
Operating Cash Flow Q/Q Growth	14.51%	1.11%	1.64%	3.67%	6.22%	10.01%	-17.88%	7.36%	3.50%	8.41%	6.06%
Free Cash Flow Firm Q/Q Growth	-61.66%	166.98%	905.82%	-585.24%	88.73%	-60.62%	651.35%	-100.51%	26.37%	21.69%	3.92%
Invested Capital Q/Q Growth	36.46%	1.27%	-52.46%	-0.37%	-4.99%	0.99%	-22.69%	5.22%	3.85%	3.10%	2.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.68%	45.48%	44.95%	44.97%	42.34%	44.90%	45.55%	43.71%	44.67%	44.94%	46.51%
EBITDA Margin	22.33%	23.01%	21.62%	19.53%	20.55%	20.92%	22.27%	20.20%	21.47%	22.22%	23.75%
Operating Margin	17.28%	17.81%	16.59%	14.72%	15.04%	14.79%	16.42%	14.49%	15.24%	16.09%	17.74%
EBIT Margin	17.46%	17.89%	16.70%	14.77%	15.70%	15.03%	16.61%	14.37%	15.57%	16.46%	18.06%
Profit (Net Income) Margin	5.79%	6.80%	6.93%	6.83%	9.68%	10.34%	12.88%	8.41%	9.64%	11.10%	12.79%
Tax Burden Percent	46.28%	51.37%	54.61%	59.27%	79.28%	104.51%	102.42%	81.17%	76.25%	79.59%	79.65%
Interest Burden Percent	71.64%	73.96%	75.96%	78.06%	77.77%	65.84%	75.72%	72.13%	81.23%	84.74%	88.91%
Effective Tax Rate	35.87%	34.00%	29.37%	24.11%	20.61%	21.17%	20.18%	22.21%	21.77%	20.04%	20.24%
Return on Invested Capital (ROIC)	10.29%	10.70%	15.34%	15.26%	12.00%	8.38%	11.48%	11.22%	11.97%	13.54%	15.43%
ROIC Less NNEP Spread (ROIC-NNEP)	3.74%	4.72%	7.70%	6.91%	8.16%	6.81%	11.10%	5.67%	7.92%	9.80%	12.03%
Return on Net Nonoperating Assets (RNNOA)	11.27%	14.47%	35.48%	16.88%	11.77%	10.37%	12.02%	5.95%	10.30%	9.64%	9.36%
Return on Equity (ROE)	21.57%	25.17%	50.82%	32.14%	23.77%	18.75%	23.50%	17.17%	22.26%	23.19%	24.79%
Cash Return on Invested Capital (CROIC)	-24.25%	10.36%	83.40%	-58.71%	-0.82%	4.90%	31.70%	-0.16%	5.07%	7.38%	7.35%
Operating Return on Assets (OROA)	13.81%	14.03%	19.30%	17.39%	12.85%	8.56%	10.02%	10.00%	12.74%	14.00%	15.74%
Return on Assets (ROA)	4.58%	5.33%	8.01%	8.05%	7.92%	5.89%	7.77%	5.85%	7.89%	9.44%	11.14%
Return on Common Equity (ROCE)	13.78%	17.24%	35.05%	22.56%	16.66%	14.01%	18.69%	12.98%	15.83%	16.73%	18.23%
Return on Equity Simple (ROE_SIMPLE)	29.95%	33.65%	0.00%	22.90%	32.97%	23.22%	27.06%	27.92%	28.10%	28.86%	0.00%
Net Operating Profit after Tax (NOPAT)	351	428	459	478	550	416	526	490	572	691	840
NOPAT Margin	11.08%	11.75%	11.72%	11.17%	11.94%	11.66%	13.11%	11.27%	11.92%	12.87%	14.15%
Net Nonoperating Expense Percent (NNEP)	6.55%	5.99%	7.63%	8.35%	3.84%	1.57%	0.38%	5.55%	4.05%	3.74%	3.39%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.67%	11.52%	13.07%	14.71%
Cost of Revenue to Revenue	54.32%	54.52%	55.05%	55.03%	57.66%	55.10%	54.45%	56.29%	55.33%	55.06%	53.49%
SG&A Expenses to Revenue	22.04%	20.97%	21.78%	22.54%	22.55%	24.33%	23.65%	23.61%	23.73%	23.28%	23.24%
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	28.40%	27.67%	28.36%	30.25%	27.30%	30.10%	29.12%	29.21%	29.43%	28.85%	28.76%
Earnings before Interest and Taxes (EBIT)	552	652	654	632	723	536	667	625	748	885	1,072
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	706	838	846	836	946	746	894	878	1,031	1,194	1,409
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.53	4.48	0.00	4.42	4.75	4.96	3.30	4.48	4.03	4.49	4.37
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	12.23	0.00	75.45	19.14	13.12
Price to Revenue (P/Rev)	0.88	0.91	1.13	1.32	1.40	2.21	1.57	1.35	1.38	1.73	1.80
Price to Earnings (P/E)	15.26	13.33	16.31	15.04	17.92	27.70	15.31	21.66	18.86	20.38	18.83
Dividend Yield	2.91%	2.56%	2.18%	1.82%	1.69%	1.41%	1.77%	1.37%	0.91%	0.67%	0.66%
Earnings Yield	6.55%	7.50%	6.13%	6.65%	5.58%	3.61%	6.53%	4.62%	5.30%	4.91%	5.31%
Enterprise Value to Invested Capital (EV/IC)	1.53	1.63	2.18	2.01	2.03	2.24	2.42	1.98	2.00	2.36	2.45
Enterprise Value to Revenue (EV/Rev)	1.94	1.80	1.10	2.02	2.15	3.16	2.48	2.10	2.06	2.32	2.34
Enterprise Value to EBITDA (EV/EBITDA)	8.67	7.81	5.09	10.33	10.48	15.12	11.14	10.40	9.60	10.42	9.85
Enterprise Value to EBIT (EV/EBIT)	11.09	10.05	6.59	13.66	13.72	21.05	14.94	14.61	13.24	14.07	12.95
Enterprise Value to NOPAT (EV/NOPAT)	17.46	15.29	9.38	18.07	18.04	27.13	18.93	18.63	17.29	18.00	16.53
Enterprise Value to Operating Cash Flow (EV/OCF)	12.20	10.23	6.54	11.32	15.61	16.01	13.92	12.94	11.63	12.41	11.81
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	15.79	1.73	0.00	0.00	46.40	6.86	0.00	40.80	33.01	34.70
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.52	2.83	0.00	1.38	1.58	1.64	1.37	1.49	1.18	0.88	0.76
Long-Term Debt to Equity	3.48	2.79	0.00	1.36	1.56	1.62	1.35	1.47	1.17	0.83	0.75
Financial Leverage	3.01	3.07	4.60	2.44	1.44	1.52	1.08	1.05	1.30	0.98	0.78
Leverage Ratio	4.71	4.72	6.35	3.99	3.00	3.18	3.02	2.93	2.82	2.46	2.22
Compound Leverage Factor	3.37	3.49	4.82	3.12	2.33	2.10	2.29	2.12	2.29	2.08	1.98
Debt to Total Capital	77.89%	73.87%	0.00%	58.03%	61.31%	62.17%	57.74%	59.78%	54.15%	46.71%	43.19%
Short-Term Debt to Total Capital	0.90%	0.91%	0.00%	0.83%	0.79%	0.72%	0.67%	0.54%	0.50%	2.59%	0.76%
Long-Term Debt to Total Capital	76.98%	72.96%	0.00%	57.20%	60.52%	61.44%	57.08%	59.23%	53.65%	44.12%	42.44%
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	7.10%	8.11%	0.00%	12.51%	11.62%	7.82%	8.59%	11.92%	12.97%	14.63%	14.53%
Common Equity to Total Capital	15.02%	18.02%	0.00%	29.46%	27.07%	30.02%	33.66%	28.31%	32.89%	38.66%	42.28%
Debt to EBITDA	4.49	3.60	0.00	3.01	3.24	4.41	3.67	3.15	2.63	2.09	1.77
Net Debt to EBITDA	4.34	3.48	0.00	2.93	3.08	4.02	3.54	3.09	2.53	1.99	1.69
Long-Term Debt to EBITDA	4.44	3.55	0.00	2.97	3.20	4.36	3.62	3.12	2.61	1.98	1.74
Debt to NOPAT	9.05	7.04	0.00	5.26	5.57	7.91	6.23	5.64	4.74	3.61	2.97
Net Debt to NOPAT	8.74	6.81	0.00	5.12	5.29	7.21	6.02	5.54	4.56	3.44	2.84
Long-Term Debt to NOPAT	8.94	6.96	0.00	5.19	5.50	7.82	6.16	5.59	4.70	3.41	2.91
Altman Z-Score	1.06	1.40	0.00	2.00	1.97	1.88	1.81	2.13	2.37	2.96	3.28
Noncontrolling Interest Sharing Ratio	36.12%	31.52%	31.03%	29.80%	29.92%	25.27%	20.48%	24.40%	28.88%	27.82%	26.45%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.40	1.38	0.00	0.98	1.05	1.32	1.23	1.25	1.28	1.05	1.08
Quick Ratio	1.11	1.02	0.00	0.80	0.83	1.11	0.75	0.97	1.04	0.81	0.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-826	414	2,494	-1,838	-37	243	1,453	-6.84	243	377	400
Operating Cash Flow to CapEx	329.18%	357.65%	268.69%	281.85%	164.84%	175.69%	131.17%	120.84%	145.91%	156.08%	159.64%
Free Cash Flow to Firm to Interest Expense	-5.00	2.31	15.11	-12.48	-0.22	1.31	8.79	-0.04	1.69	2.73	3.25
Operating Cash Flow to Interest Expense	3.04	3.57	3.99	5.18	3.80	3.79	4.33	3.99	5.93	7.27	9.54
Operating Cash Flow Less CapEx to Interest Expense	2.11	2.57	2.50	3.34	1.49	1.63	1.03	0.69	1.87	2.61	3.56
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.79	0.78	1.16	1.18	0.82	0.57	0.60	0.70	0.82	0.85	0.87
Accounts Receivable Turnover	8.62	8.53	0.00	0.00	9.46	6.61	7.38	8.26	8.36	8.88	9.75
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	2.72	2.70	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	29.88	30.58	0.00	0.00	28.77	18.75	17.56	18.34	17.54	17.35	18.18
Days Sales Outstanding (DSO)	42.33	42.80	0.00	0.00	38.59	55.21	49.48	44.18	43.65	41.11	37.45
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)	12.22	11.94	0.00	0.00	12.69	19.46	20.79	19.90	20.81	21.04	20.07
Cash Conversion Cycle (CCC)	30.12	30.86	0.00	0.00	25.90	35.75	28.70	24.28	22.84	20.07	17.38
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,994	4,008	1,973	4,288	4,876	5,048	4,121	4,618	4,948	5,263	5,664
Invested Capital Turnover	0.93	0.91	1.31	1.37	1.01	0.72	0.88	1.00	1.00	1.05	1.09
Increase / (Decrease) in Invested Capital	1,177	14	-2,035	2,316	587	173	-927	497	330	314	440
Enterprise Value (EV)	6,123	6,546	4,304	8,632	9,919	11,284	9,963	9,134	9,898	12,444	13,886
Market Capitalization	2,770	3,300	4,421	5,645	6,429	7,871	6,309	5,869	6,640	9,287	10,660
Book Value per Share	$6.69	$8.20	$0.00	$12.91	$13.71	$15.97	$19.21	$13.13	$16.44	$20.52	$24.23
Tangible Book Value per Share	($18.57)	($17.85)	($20.06)	($12.81)	($14.50)	($11.69)	$5.19	($2.36)	$0.88	$4.82	$8.07
Total Capital	4,072	4,083	0.00	4,333	4,995	5,291	5,678	4,629	5,010	5,347	5,767
Total Debt	3,172	3,016	0.00	2,514	3,063	3,289	3,278	2,767	2,713	2,498	2,491
Total Long-Term Debt	3,135	2,979	0.00	2,479	3,023	3,251	3,241	2,742	2,688	2,359	2,447
Net Debt	3,064	2,915	-117	2,445	2,910	3,000	3,166	2,714	2,608	2,375	2,388
Capital Expenditures (CapEx)	153	179	245	271	385	401	546	584	583	643	736
Debt-free, Cash-free Net Working Capital (DFCFNWC)	102	115	0.00	-44	-78	-20	99	113	106	61	10
Debt-free Net Working Capital (DFNWC)	209	216	117	25	74	270	210	167	210	185	113
Net Working Capital (NWC)	172	179	117	-10	35	231	173	141	185	46	70
Net Nonoperating Expense (NNE)	168	181	188	186	104	47	9.14	124	109	95	81
Net Nonoperating Obligations (NNO)	3,094	2,941	1,973	2,470	2,943	3,047	1,722	2,756	2,651	2,413	2,388
Total Depreciation and Amortization (D&A)	154	186	193	204	223	210	227	253	283	309	338
Debt-free, Cash-free Net Working Capital to Revenue	3.21%	3.15%	0.00%	-1.02%	-1.70%	-0.56%	2.45%	2.60%	2.21%	1.14%	0.17%
Debt-free Net Working Capital to Revenue	6.61%	5.93%	2.98%	0.59%	1.61%	7.56%	5.24%	3.83%	4.38%	3.43%	1.91%
Net Working Capital to Revenue	5.45%	4.91%	2.98%	-0.24%	0.76%	6.49%	4.30%	3.25%	3.86%	0.85%	1.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.61	$2.21	$2.17	$2.37	$2.91	$2.28	$3.30	$2.72	$3.51	$4.53	$5.62
Adjusted Weighted Average Basic Shares Outstanding	112.29M	111.91M	117.69M	122.96M	123.09M	123.84M	124.35M	99.20M	99.50M	99.90M	100.50M
Adjusted Diluted Earnings per Share	$1.52	$2.06	$2.14	$2.33	$2.87	$2.27	$3.27	$2.70	$3.47	$4.46	$5.54
Adjusted Weighted Average Diluted Shares Outstanding	126.86M	124.97M	124.72M	125.35M	124.85M	125.35M	125.85M	100.40M	101.30M	102.20M	102.20M
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	112.76M	111.85M	123.26M	124.02M	123.63M	124.68M	124.90M	99.73M	100.14M	100.71M	99.42M
Normalized Net Operating Profit after Tax (NOPAT)	355	428	459	517	550	418	526	490	572	691	840
Normalized NOPAT Margin	11.24%	11.75%	11.72%	12.09%	11.94%	11.72%	13.11%	11.27%	11.92%	12.87%	14.15%
Pre Tax Income Margin	12.51%	13.23%	12.68%	11.53%	12.21%	9.90%	12.58%	10.37%	12.65%	13.95%	16.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.34	3.63	3.96	4.29	4.32	2.88	4.03	3.53	5.21	6.41	8.70
NOPAT to Interest Expense	2.12	2.39	2.78	3.24	3.28	2.24	3.18	2.77	3.99	5.01	6.82
EBIT Less CapEx to Interest Expense	2.42	2.63	2.47	2.45	2.02	0.73	0.73	0.23	1.15	1.75	2.72
NOPAT Less CapEx to Interest Expense	1.20	1.39	1.29	1.41	0.98	0.08	-0.12	-0.53	-0.07	0.35	0.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	71.87%	60.06%	52.90%	82.55%	78.82%	93.55%	41.24%	53.46%	37.82%	31.48%	29.40%
Augmented Payout Ratio	96.61%	86.55%	66.95%	82.55%	89.12%	95.20%	41.24%	53.46%	37.82%	36.69%	50.22%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	100,615,977.00	99,416,162.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	100,615,977.00	99,416,162.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	1.45	1.96
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.78%	9.63%	13.41%	9.61%	11.94%	12.69%	10.59%	12.03%	9.36%	9.94%	9.01%
EBITDA Growth	19.48%	6.96%	15.08%	12.58%	20.06%	16.18%	23.13%	18.47%	11.83%	19.56%	16.89%
EBIT Growth	24.24%	5.69%	16.85%	17.31%	21.40%	17.91%	26.59%	21.43%	14.24%	22.48%	18.85%
NOPAT Growth	20.01%	3.76%	16.70%	18.89%	18.49%	28.49%	35.28%	18.74%	15.29%	17.75%	10.08%
Net Income Growth	149.78%	-14.38%	22.51%	25.00%	29.72%	37.87%	41.57%	26.21%	18.69%	23.69%	26.31%
EPS Growth	86.67%	-2.22%	26.44%	24.44%	26.19%	34.09%	34.55%	24.11%	16.98%	21.19%	30.41%
Operating Cash Flow Growth	206.99%	16.72%	4.78%	5.18%	24.44%	38.71%	20.85%	24.29%	1.12%	24.10%	8.49%
Free Cash Flow Firm Growth	-122.03%	48.54%	-115.99%	-124.75%	26.54%	31.44%	30.62%	47.20%	-32.65%	-150.46%	-94.91%
Invested Capital Growth	8.55%	7.14%	7.55%	9.54%	7.13%	6.35%	7.04%	6.83%	8.25%	8.42%	9.29%
Revenue Q/Q Growth	1.67%	3.31%	5.55%	-1.12%	3.83%	4.00%	3.59%	0.16%	1.36%	4.54%	2.72%
EBITDA Q/Q Growth	-4.63%	8.78%	5.32%	3.04%	1.71%	5.26%	11.62%	-0.86%	-3.99%	12.53%	9.13%
EBIT Q/Q Growth	-3.59%	10.51%	7.09%	2.82%	-0.23%	7.33%	14.97%	-1.37%	-6.13%	15.07%	11.56%
NOPAT Q/Q Growth	-1.45%	3.61%	10.83%	5.06%	-1.79%	12.36%	16.68%	-7.78%	-4.64%	14.76%	9.08%
Net Income Q/Q Growth	-3.24%	5.03%	-5.71%	5.55%	0.41%	11.62%	19.67%	-5.90%	-5.57%	16.32%	22.21%
EPS Q/Q Growth	-6.67%	4.76%	25.00%	1.82%	-5.36%	11.32%	25.42%	-6.08%	-10.79%	15.32%	34.97%
Operating Cash Flow Q/Q Growth	4.11%	-6.60%	18.81%	-8.96%	23.18%	4.11%	3.52%	-6.38%	0.22%	27.77%	-9.51%
Free Cash Flow Firm Q/Q Growth	-121.40%	21.65%	-30.86%	-47.04%	36.47%	26.88%	-1.58%	-11.90%	-59.60%	4.45%	-14.22%
Invested Capital Q/Q Growth	3.05%	3.85%	0.68%	2.54%	0.78%	3.10%	0.46%	2.34%	2.13%	2.50%	2.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.25%	44.63%	44.86%	45.07%	44.74%	45.09%	46.60%	46.33%	45.87%	47.20%	47.48%
EBITDA Margin	20.48%	21.57%	21.52%	22.43%	21.97%	22.23%	23.96%	23.72%	22.46%	24.18%	25.69%
Operating Margin	14.86%	15.23%	15.77%	16.57%	15.48%	16.53%	18.35%	17.77%	16.49%	18.35%	19.01%
EBIT Margin	14.91%	15.94%	16.18%	16.82%	16.17%	16.68%	18.52%	18.23%	16.89%	18.59%	20.19%
Profit (Net Income) Margin	9.40%	9.55%	10.55%	11.26%	10.89%	11.69%	13.50%	12.68%	11.82%	13.15%	15.64%
Tax Burden Percent	78.21%	72.27%	77.80%	78.76%	80.03%	81.53%	82.36%	78.08%	79.40%	78.81%	85.97%
Interest Burden Percent	80.60%	82.90%	83.80%	84.97%	84.16%	85.92%	88.53%	89.09%	88.14%	89.76%	90.13%
Effective Tax Rate	20.90%	22.57%	21.47%	20.59%	19.59%	18.67%	17.44%	21.54%	20.42%	21.50%	19.54%
Return on Invested Capital (ROIC)	12.05%	11.84%	12.88%	13.77%	13.15%	14.15%	16.33%	15.10%	14.31%	15.70%	16.77%
ROIC Less NNEP Spread (ROIC-NNEP)	10.96%	10.80%	11.94%	12.81%	12.30%	13.18%	15.35%	14.34%	13.49%	14.89%	17.00%
Return on Net Nonoperating Assets (RNNOA)	14.52%	14.05%	14.13%	14.24%	12.40%	12.97%	14.04%	12.39%	10.77%	11.58%	12.84%
Return on Equity (ROE)	26.58%	25.88%	27.01%	28.01%	25.56%	27.12%	30.37%	27.49%	25.07%	27.28%	29.61%
Cash Return on Invested Capital (CROIC)	4.19%	5.07%	5.23%	3.76%	6.28%	7.38%	7.84%	8.30%	7.24%	7.35%	6.72%
Operating Return on Assets (OROA)	12.23%	13.04%	13.39%	13.93%	13.57%	14.19%	15.86%	15.69%	14.69%	16.19%	17.55%
Return on Assets (ROA)	7.71%	7.81%	8.73%	9.32%	9.14%	9.94%	11.56%	10.92%	10.28%	11.46%	13.60%
Return on Common Equity (ROCE)	0.00%	18.41%	0.00%	0.00%	0.00%	19.57%	0.00%	0.00%	0.00%	20.07%	0.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	142	147	163	171	168	189	220	203	194	222	243
NOPAT Margin	11.76%	11.79%	12.38%	13.16%	12.45%	13.45%	15.15%	13.95%	13.12%	14.40%	15.30%
Net Nonoperating Expense Percent (NNEP)	1.09%	1.03%	0.94%	0.97%	0.85%	0.98%	0.98%	0.76%	0.82%	0.81%	-0.23%
Return On Investment Capital (ROIC_SIMPLE)	-	2.96%	-	-	-	3.57%	4.12%	3.70%	3.48%	3.90%	4.13%
Cost of Revenue to Revenue	55.75%	55.37%	55.14%	54.93%	55.26%	54.91%	53.40%	53.67%	54.13%	52.80%	52.52%
SG&A Expenses to Revenue	23.81%	23.78%	23.75%	22.90%	23.46%	23.00%	22.81%	23.07%	23.81%	23.26%	22.97%
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	29.39%	29.40%	29.10%	28.50%	29.27%	28.56%	28.25%	28.55%	29.39%	28.85%	28.47%
Earnings before Interest and Taxes (EBIT)	180	199	213	219	218	234	270	266	250	287	320
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	247	269	283	292	297	312	349	346	332	374	408
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	4.03	0.00	0.00	0.00	4.49	0.00	0.00	0.00	4.37	0.00
Price to Tangible Book Value (P/TBV)	0.00	75.45	0.00	0.00	0.00	19.14	0.00	0.00	0.00	13.12	0.00
Price to Revenue (P/Rev)	1.42	1.38	1.67	1.70	1.86	1.73	1.85	2.18	2.20	1.80	1.58
Price to Earnings (P/E)	18.88	18.86	21.91	21.58	22.98	20.38	20.58	23.62	23.61	18.83	15.75
Dividend Yield	0.90%	0.91%	0.73%	0.70%	0.62%	0.67%	0.63%	0.54%	0.54%	0.66%	0.75%
Earnings Yield	5.30%	5.30%	4.56%	4.63%	4.35%	4.91%	4.86%	4.23%	4.23%	5.31%	6.35%
Enterprise Value to Invested Capital (EV/IC)	2.40	2.00	2.67	2.70	2.90	2.36	2.93	3.28	3.31	2.45	2.66
Enterprise Value to Revenue (EV/Rev)	2.44	2.06	2.66	2.70	2.84	2.32	2.81	3.13	3.16	2.34	2.53
Enterprise Value to EBITDA (EV/EBITDA)	11.40	9.60	12.46	12.54	12.98	10.42	12.38	13.62	13.67	9.85	10.54
Enterprise Value to EBIT (EV/EBIT)	15.53	13.24	16.95	16.89	17.45	14.07	16.44	17.97	17.96	12.95	13.69
Enterprise Value to NOPAT (EV/NOPAT)	20.18	17.29	22.14	21.97	22.81	18.00	20.66	22.74	22.70	16.53	17.83
Enterprise Value to Operating Cash Flow (EV/OCF)	13.92	11.63	15.31	15.69	16.01	12.41	14.70	16.06	16.51	11.81	12.81
Enterprise Value to Free Cash Flow (EV/FCFF)	59.62	40.80	52.92	75.23	47.81	33.01	38.57	40.83	47.53	34.70	41.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.24	1.18	1.13	1.07	0.95	0.88	0.84	0.80	0.76	0.76	0.76
Long-Term Debt to Equity	1.23	1.17	1.12	1.06	0.86	0.83	0.79	0.75	0.75	0.75	0.75
Financial Leverage	1.33	1.30	1.18	1.11	1.01	0.98	0.91	0.86	0.80	0.78	0.75
Leverage Ratio	2.91	2.82	2.74	2.67	2.53	2.46	2.41	2.35	2.25	2.22	2.21
Compound Leverage Factor	2.34	2.34	2.30	2.27	2.13	2.11	2.13	2.09	1.99	2.00	2.00
Debt to Total Capital	55.38%	54.15%	52.98%	51.78%	48.60%	46.71%	45.70%	44.33%	43.30%	43.19%	43.32%
Short-Term Debt to Total Capital	0.49%	0.50%	0.50%	0.62%	4.39%	2.59%	2.56%	2.51%	0.69%	0.76%	0.72%
Long-Term Debt to Total Capital	54.89%	53.65%	52.48%	51.16%	44.21%	44.12%	43.13%	41.82%	42.60%	42.44%	42.60%
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	44.62%	12.97%	47.02%	48.22%	51.40%	14.63%	54.30%	55.67%	56.70%	14.53%	56.68%
Common Equity to Total Capital	0.00%	32.89%	0.00%	0.00%	0.00%	38.66%	0.00%	0.00%	0.00%	42.28%	0.00%
Debt to EBITDA	2.71	2.63	2.56	2.49	2.26	2.09	1.98	1.89	1.82	1.77	1.76
Net Debt to EBITDA	2.57	2.53	2.40	2.32	2.09	1.99	1.88	1.78	1.75	1.69	1.65
Long-Term Debt to EBITDA	2.68	2.61	2.53	2.46	2.06	1.98	1.87	1.78	1.79	1.74	1.74
Debt to NOPAT	4.79	4.74	4.55	4.36	3.97	3.61	3.30	3.15	3.02	2.97	2.98
Net Debt to NOPAT	4.54	4.56	4.26	4.07	3.66	3.44	3.14	2.97	2.90	2.84	2.79
Long-Term Debt to NOPAT	4.75	4.70	4.50	4.31	3.61	3.41	3.12	2.97	2.97	2.91	2.93
Altman Z-Score	1.98	2.07	2.25	2.29	2.49	2.63	2.62	2.98	3.07	2.91	2.46
Noncontrolling Interest Sharing Ratio	100.00%	28.88%	100.00%	100.00%	100.00%	27.82%	100.00%	100.00%	100.00%	26.45%	100.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.27	1.28	1.37	1.35	1.04	1.05	1.06	1.06	1.14	1.08	1.17
Quick Ratio	0.99	1.04	1.11	1.07	0.81	0.81	0.84	0.82	0.87	0.83	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-233	-183	-184	-270	-171	-125	-127	-143	-227	-217	-248
Operating Cash Flow to CapEx	143.75%	94.95%	171.31%	138.56%	181.56%	140.31%	176.95%	172.21%	144.74%	150.89%	192.80%
Free Cash Flow to Firm to Interest Expense	-6.50	-5.24	-5.21	-7.87	-4.86	-3.78	-4.00	-4.69	-7.38	-7.20	-7.76
Operating Cash Flow to Interest Expense	5.99	5.76	6.78	6.34	7.59	8.40	9.08	8.89	8.79	11.46	9.78
Operating Cash Flow Less CapEx to Interest Expense	1.82	-0.31	2.82	1.76	3.41	2.41	3.95	3.73	2.72	3.86	4.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.82	0.82	0.83	0.83	0.84	0.85	0.86	0.86	0.87	0.87	0.87
Accounts Receivable Turnover	9.06	8.36	8.74	9.04	9.38	8.88	8.87	9.43	9.76	9.75	9.34
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	1.57	0.00	1.56	0.00	1.55	0.00	1.55	1.56	1.56	0.00	1.53
Accounts Payable Turnover	17.32	17.54	17.83	17.52	17.14	17.35	18.51	18.17	20.28	18.18	17.80
Days Sales Outstanding (DSO)	40.30	43.65	41.74	40.38	38.93	41.11	41.14	38.70	37.38	37.45	39.09
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)	21.07	20.81	20.47	20.83	21.29	21.04	19.72	20.08	17.99	20.07	20.51
Cash Conversion Cycle (CCC)	19.22	22.84	21.28	19.55	17.63	20.07	21.42	18.62	19.39	17.38	18.58
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,765	4,948	4,939	5,065	5,104	5,263	5,287	5,410	5,526	5,664	5,778
Invested Capital Turnover	1.03	1.00	1.04	1.05	1.06	1.05	1.08	1.08	1.09	1.09	1.10
Increase / (Decrease) in Invested Capital	375	330	347	441	340	314	348	346	421	440	491
Enterprise Value (EV)	11,445	9,898	13,194	13,687	14,812	12,444	15,469	17,754	18,300	13,886	15,375
Market Capitalization	6,680	6,640	8,255	8,623	9,707	9,287	10,183	12,344	12,775	10,660	9,598
Book Value per Share	$0.00	$16.44	$0.00	$0.00	$0.00	$20.52	$0.00	$0.00	$0.00	$24.23	$0.00
Tangible Book Value per Share	($15.54)	$0.88	($15.51)	($15.76)	($15.70)	$4.82	($15.67)	($15.86)	($15.83)	$8.07	($16.27)
Total Capital	4,906	5,010	5,112	5,247	5,303	5,347	5,410	5,548	5,619	5,767	5,941
Total Debt	2,717	2,713	2,708	2,717	2,578	2,498	2,472	2,460	2,433	2,491	2,574
Total Long-Term Debt	2,693	2,688	2,683	2,684	2,345	2,359	2,333	2,320	2,394	2,447	2,531
Net Debt	2,575	2,608	2,536	2,535	2,379	2,375	2,349	2,322	2,339	2,388	2,410
Capital Expenditures (CapEx)	150	212	139	157	148	199	163	157	187	229	162
Debt-free, Cash-free Net Working Capital (DFCFNWC)	57	106	102	94	71	61	71	55	53	10	32
Debt-free Net Working Capital (DFNWC)	198	210	275	276	270	185	194	192	147	113	195
Net Working Capital (NWC)	175	185	250	244	37	46	55	53	108	70	152
Net Nonoperating Expense (NNE)	29	28	24	25	21	25	24	18	19	19	-5.52
Net Nonoperating Obligations (NNO)	2,575	2,651	2,536	2,535	2,379	2,413	2,349	2,322	2,339	2,388	2,410
Total Depreciation and Amortization (D&A)	67	70	70	73	78	78	79	80	82	86	87
Debt-free, Cash-free Net Working Capital to Revenue	1.22%	2.21%	2.07%	1.85%	1.35%	1.14%	1.28%	0.97%	0.92%	0.17%	0.52%
Debt-free Net Working Capital to Revenue	4.23%	4.38%	5.55%	5.44%	5.17%	3.43%	3.51%	3.39%	2.53%	1.91%	3.22%
Net Working Capital to Revenue	3.72%	3.86%	5.03%	4.80%	0.70%	0.85%	1.00%	0.93%	1.86%	1.17%	2.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.85	$0.88	$1.12	$1.13	$1.08	$1.20	$1.50	$1.41	$1.26	$1.45	$1.96
Adjusted Weighted Average Basic Shares Outstanding	99.50M	99.50M	99.80M	99.90M	99.90M	99.90M	100.50M	100.60M	100.50M	100.50M	99.20M
Adjusted Diluted Earnings per Share	$0.84	$0.88	$1.10	$1.12	$1.06	$1.18	$1.48	$1.39	$1.24	$1.43	$1.93
Adjusted Weighted Average Diluted Shares Outstanding	101.40M	101.30M	102.20M	102M	102.10M	102.20M	102.10M	102.30M	102.30M	102.20M	100.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.88	$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	100.24M	100.14M	100.69M	100.63M	100.75M	100.71M	100.80M	100.72M	100.62M	99.42M	99.20M
Normalized Net Operating Profit after Tax (NOPAT)	142	147	163	171	168	189	220	203	194	222	243
Normalized NOPAT Margin	11.76%	11.79%	12.38%	13.16%	12.45%	13.45%	15.15%	13.95%	13.12%	14.40%	15.30%
Pre Tax Income Margin	12.01%	13.22%	13.56%	14.29%	13.60%	14.33%	16.39%	16.24%	14.88%	16.68%	18.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.01	5.70	6.05	6.38	6.19	7.06	8.47	8.74	8.10	9.51	10.01
NOPAT to Interest Expense	3.95	4.21	4.63	4.99	4.76	5.69	6.93	6.69	6.29	7.37	7.58
EBIT Less CapEx to Interest Expense	0.84	-0.37	2.09	1.81	2.01	1.08	3.35	3.58	2.03	1.91	4.93
NOPAT Less CapEx to Interest Expense	-0.22	-1.85	0.67	0.42	0.58	-0.29	1.80	1.53	0.22	-0.23	2.51
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.41%	37.82%	34.45%	32.54%	30.64%	31.48%	30.28%	30.73%	30.27%	29.40%	30.88%
Augmented Payout Ratio	37.41%	37.82%	34.45%	32.54%	30.64%	36.69%	39.94%	41.00%	42.65%	50.22%	55.24%

Financials Breakdown Chart

Key Financial Trends

Encompass Health (NYSE:EHC) has shown a generally positive trend over the last four years, with topline growth, margin expansion, and solid cash flow generation in recent quarters. However, leverage and cash outflows from investing and financing activities have risen, which created some year-over-year headwinds to watch.

Key year-over-year and multi-year observations from the quarterly data include stronger revenue, improving gross and operating margins, and growing net income per share, supported by healthier cash flow from operations. Debt levels have edged higher along the way, and cash used in investing and financing activities remains meaningful in several quarters, which can affect near-term liquidity and dividend decisions.

Top-line growth: Q4 2025 operating revenue rose to 1.545B from 1.137B in Q4 2022, illustrating a multi-year revenue expansion.
Gross margin expansion: Q4 2025 gross profit was 729M on 1.545B revenue, up from 633.5M on 1.405B in Q4 2024, signaling improved profitability per dollar of sales.
Operating income up: Q4 2025 total operating income reached 283.4M, higher than 232.3M in Q4 2024.
Net income attributable to common shareholders: 146.1M in Q4 2025 vs 120.9M in Q4 2024, reflecting stronger quarterly profitability.
Diluted earnings per share: 1.43 in Q4 2025 versus 1.24 in Q4 2024, indicating better earnings power per share.
Operating cash flow strength: Net cash from continuing operating activities was 346.0M in Q4 2025, up from 278.8M in Q4 2024, signaling robust cash generation.
Capex and investing activity: Purchase of property, plant & equipment around 229.3M in Q4 2025, up from 198.7M in Q4 2024, suggesting ongoing investment in capacity and efficiency.
Debt levels: Long-term debt hovered in the 2.32B–2.39B range during 2025, a moderate year-over-year increase that supports growth but adds leverage risk to monitor.
Financing cash outflows: Net cash from financing activities in Q4 2025 was -97.4M, larger in magnitude than the prior-year quarter, contributing to a smaller net cash gain or larger cash burn in the period.

05/14/26 02:20 PM ETAI Generated. May Contain Errors.

Encompass Health Financials - Frequently Asked Questions

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

Encompass Health's net income appears to be on an upward trend, with a most recent value of $759.10 million in 2025, rising from $183.10 million in 2015. The previous period was $596.60 million in 2024. View Encompass Health's forecast to see where analysts expect Encompass Health to go next.

Encompass Health's total operating income in 2025 was $1.05 billion, based on the following breakdown:

Total Gross Profit: $2.76 billion
Total Operating Expenses: $1.71 billion

Over the last 10 years, Encompass Health's total revenue changed from $3.16 billion in 2015 to $5.94 billion in 2025, a change of 87.7%.

Encompass Health's total liabilities were at $3.81 billion at the end of 2025, a 3.5% increase from 2024, and a 2.9% increase since 2015.

In the past 10 years, Encompass Health's cash and equivalents has ranged from $21.80 million in 2022 to $224 million in 2020, and is currently $72.20 million as of their latest financial filing in 2025.

Over the last 10 years, Encompass Health's book value per share changed from 6.69 in 2015 to 24.23 in 2025, a change of 262.4%.

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Financial statements for NYSE:EHC last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Encompass Health (EHC) Financials

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