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AdaptHealth Corp., together with its subsidiaries, distributes home medical equipment (HME), medical supplies, and home and related services in the United States. It operates through Sleep Health, Respiratory Health, Diabetes Health, and Wellness at Home segments. The company offers sleep therapy equipment, supplies, and related services, such as continuous positive airway pressure and BiLevel services to individuals suffering from obstructive sleep apnea; oxygen and home mechanical ventilation equipment and supplies and related chronic therapy services; and medical devices, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; and other HME devices and supplies. It also provides PAP machines, wheelchairs, hospital beds, oxygen concentrators, ventilators, insulin pumps, diabetes management and wound care supplies, orthopedic bracing, breast pumps and supplies, walkers, commodes, enteral supplies, and incontinence supplies. The company services beneficiaries of Medicare, Medicaid, and commercial insurance payors. AdaptHealth Corp. was founded in 2012 and is headquartered in Conshohocken, Pennsylvania.
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AdaptHealth Corp supplies home medical equipment and related services—primarily respiratory, sleep apnea, mobility and consumable products—to patients in the U.S., supported by distribution, clinical and care-management networks. Long-term demand drivers include an aging population, rising prevalence of chronic respiratory conditions and a shift toward home-based care, which may benefit the company's recurring-revenue mix and scale efficiency.
Key risks include exposure to Medicare and commercial reimbursement changes, regulatory and audit challenges, and execution and leverage risks from acquisition-driven growth.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -15.15M | 136.02M | -723.78M | 97.90M | 190.96M |
| Minority interest | -4.76M | -4.36M | -4.20M | -3.82M | -1.98M |
| Net income | -70.79M | 90.42M | -678.89M | 69.32M | 156.18M |
| Selling general administrative | 382.29M | 359.24M | 190.09M | 162.12M | 167.50M |
| Selling and marketing expenses | - | - | 8.06M | - | - |
| Gross profit | 568.56M | 681.09M | 681.77M | 417.43M | 445.61M |
| Reconciled depreciation | 381.93M | 365.33M | 392.76M | 351.18M | 258.05M |
| Ebit | 90.60M | 262.69M | -591.68M | 190.41M | 225.60M |
| Ebitda | 503.64M | 628.02M | -171.09M | 541.34M | 481.83M |
| Depreciation and amortization | 413.04M | 365.33M | 420.59M | 350.93M | 256.22M |
| Non operating income net other | - | - | - | - | 31.16M |
| Operating income | 186.27M | 263.73M | -598.40M | 190.41M | 225.60M |
| Other operating expenses | 3058.59M | 2997.24M | 3798.58M | 2780.18M | 2228.93M |
| Interest expense | 105.75M | 126.67M | 130.30M | 109.41M | 95.19M |
| Tax provision | 50.88M | 41.24M | -26.16M | 24.77M | 32.81M |
| Net interest income | -105.75M | -126.67M | -127.32M | -109.41M | -95.19M |
| Income tax expense | 50.88M | 41.24M | -49.00M | 24.77M | 32.81M |
| Total revenue | 3244.86M | 3260.97M | 3200.18M | 2970.59M | 2454.53M |
| Total operating expenses | 382.29M | 417.36M | 1280.17M | 227.01M | 220.00M |
| Cost of revenue | 2676.30M | 2579.88M | 2518.40M | 2553.17M | 2008.92M |
| Total other income expense net | -201.42M | -127.71M | -125.38M | -92.51M | -34.65M |
| Net income from continuing ops | -66.04M | 94.78M | -422.78M | 73.13M | 158.15M |
| Net income applicable to common shares | - | - | - | 63.45M | 156.18M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 4316.58M | 4486.95M | 4619.83M | 5219.59M | 5250.48M |
| Intangible assets | 85.12M | 105.55M | 130.16M | 162.77M | 202.23M |
| Other current assets | 100.62M | 98.18M | 69.34M | 52.14M | 37.44M |
| Total liab | 2790.25M | 2908.83M | 3153.16M | 3061.83M | 3183.80M |
| Total stockholder equity | 1518.56M | 1571.14M | 1458.45M | 2157.76M | 2066.69M |
| Other current liab | 291.27M | 186.93M | 195.16M | 134.86M | 153.55M |
| Common stock | 0.01M | 0.01M | 0.01M | 0.01M | 0.01M |
| Capital stock | 0.01M | 0.01M | 0.01M | 0.01M | 0.01M |
| Retained earnings | -632.97M | -562.18M | -652.60M | 26.30M | -43.02M |
| Other liab | - | - | - | 344.00M | 380.25M |
| Good will | 2541.43M | 2675.17M | 2724.96M | 3545.30M | 3512.57M |
| Other assets | - | - | - | 300.47M | 319.29M |
| Cash | 106.14M | 109.75M | 77.13M | 46.27M | 149.63M |
| Total current liabilities | 712.39M | 566.99M | 537.00M | 456.21M | 499.81M |
| Current deferred revenue | - | 34.94M | 38.57M | 31.64M | 31.37M |
| Net debt | 1796.66M | 2020.59M | 2217.52M | 2282.55M | 2220.97M |
| Short term debt | 68.74M | 60.51M | 91.76M | 67.21M | 66.86M |
| Short long term debt | 20.31M | 16.25M | 53.37M | 35.00M | 20.00M |
| Short long term debt total | 1902.80M | 2130.34M | 2294.65M | 2328.82M | 2370.60M |
| Other stockholder equity | 2151.44M | 2131.06M | 2106.68M | 2122.76M | 2112.05M |
| Property plant equipment | - | - | - | 622.01M | 546.34M |
| Total current assets | 728.90M | 755.79M | 649.02M | 585.31M | 670.06M |
| Net tangible assets | - | - | - | -1556.91M | -1648.11M |
| Short term investments | - | - | 4.48M | - | - |
| Net receivables | 370.90M | 408.02M | 388.91M | 359.15M | 359.90M |
| Long term debt | 1715.98M | 1964.92M | 2094.61M | 2153.27M | 2183.55M |
| Inventory | 151.25M | 139.84M | 113.64M | 127.75M | 123.09M |
| Accounts payable | 352.38M | 284.60M | 211.50M | 222.50M | 248.03M |
| Noncontrolling interest in consolidated entity | - | - | - | - | 4.78M |
| Accumulated other comprehensive income | 0.08M | 2.25M | 4.36M | 8.69M | -2.35M |
| Common stock total equity | - | - | - | - | 0.01M |
| Preferred stock total equity | - | - | - | - | 0.00M |
| Retained earnings total equity | - | - | - | - | -43.02M |
| Non currrent assets other | 19.12M | 17.58M | 20.14M | 22.41M | 15.10M |
| Non current assets total | 3587.68M | 3731.16M | 3970.80M | 4634.28M | 4580.43M |
| Capital lease obligations | 166.50M | 149.16M | 146.67M | 140.56M | 167.04M |
| Long term debt total | - | - | - | - | 2183.55M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | 0.00M | -310.27M | -412.66M | -411.17M | -1.12M |
| Change to liabilities | - | - | - | 0.00M | -83.38M |
| Total cashflows from investing activities | -303.19M | -310.27M | -357.28M | -411.17M | -1824.75M |
| Net borrowings | -268.48M | -179.87M | -51.77M | -36.18M | 1395.57M |
| Total cash from financing activities | -302.19M | -198.95M | -92.53M | -66.05M | 1598.74M |
| Change to operating activities | - | - | - | -101.49M | -108.69M |
| Net income | -66.04M | 94.78M | -678.89M | 73.13M | 158.15M |
| Change in cash | -3.61M | 32.62M | 30.86M | -103.36M | 49.66M |
| Begin period cash flow | 109.75M | 77.13M | 46.27M | 149.63M | 99.96M |
| End period cash flow | 106.14M | 109.75M | 77.13M | 46.27M | 149.63M |
| Total cash from operating activities | 601.77M | 541.84M | 480.67M | 373.87M | 275.68M |
| Issuance of capital stock | - | - | 0.00M | 0.00M | 278.85M |
| Depreciation | 381.93M | 365.33M | 420.59M | 351.18M | 258.05M |
| Other cashflows from investing activities | 121.58M | 5.32M | - | - | -1620.32M |
| Dividends paid | - | - | - | - | 0.00M |
| Change to inventory | -11.49M | -28.07M | 15.53M | -6.30M | -14.92M |
| Change to account receivables | 30.99M | -26.22M | -28.86M | -0.21M | -29.69M |
| Sale purchase of stock | 0.00M | -2.07M | -29.27M | -13.99M | 277.28M |
| Other cashflows from financing activities | -34.92M | -19.08M | -11.48M | -18.39M | 2189.32M |
| Change to netincome | - | - | - | 56.13M | 3.35M |
| Capital expenditures | 382.39M | 306.06M | 337.46M | 391.42M | 203.31M |
| Change receivables | - | - | - | - | -29.69M |
| Cash flows other operating | - | - | - | - | -26.08M |
| Cash and cash equivalents changes | - | - | - | - | 49.66M |
| Change in working capital | 66.58M | -26.06M | -25.11M | -108.00M | -153.31M |
| Stock based compensation | 21.88M | 14.88M | 22.47M | 22.40M | 25.32M |
| Other non cash items | 150.26M | 60.85M | 804.20M | 17.12M | -34.92M |
| Free cash flow | 219.38M | 235.78M | 143.20M | -17.56M | 72.37M |
Sector: Healthcare Industry: Medical Devices
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| AHCO Adapthealth Corp |
-0.03 0.32% |
7.78 | - | 12.94 | 0.51 | 1.13 | 1.08 | 7.45 |
| ABT Abbott Laboratories |
-0.71 0.65% |
108.58 | 25.97 | 17.24 | 3.57 | 3.20 | 3.81 | 16.75 |
| MDT Medtronic PLC |
0.28 0.28% |
101.89 | 26.60 | 15.87 | 3.35 | 2.08 | 3.90 | 14.12 |
| SYK Stryker Corporation |
-2.16 0.68% |
316.63 | 29.23 | 16.86 | 4.18 | 4.51 | 4.63 | 17.16 |
| SEMHF Siemens Healthineers AG |
- -% |
47.31 | 39.57 | 21.32 | 3.01 | 3.29 | 2.95 | 16.92 |
AdaptHealth Corp., together with its subsidiaries, distributes home medical equipment (HME), medical supplies, and home and related services in the United States. It operates through Sleep Health, Respiratory Health, Diabetes Health, and Wellness at Home segments. The company offers sleep therapy equipment, supplies, and related services, such as continuous positive airway pressure and BiLevel services to individuals suffering from obstructive sleep apnea; oxygen and home mechanical ventilation equipment and supplies and related chronic therapy services; and medical devices, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; and other HME devices and supplies. It also provides PAP machines, wheelchairs, hospital beds, oxygen concentrators, ventilators, insulin pumps, diabetes management and wound care supplies, orthopedic bracing, breast pumps and supplies, walkers, commodes, enteral supplies, and incontinence supplies. The company services beneficiaries of Medicare, Medicaid, and commercial insurance payors. AdaptHealth Corp. was founded in 2012 and is headquartered in Conshohocken, Pennsylvania.
555 East North Lane, Conshohocken, PA, United States, 19428
610 424 4515
10900
| Name | Title | Year Born |
|---|---|---|
| Mr. Stephen P. Griggs | CEO & Director | 1958 |
| Mr. Joshua Parnes | Pres & Director | 1979 |
| Mr. Jason A. Clemens C.F.A. | CFO & Principal Accounting Officer | 1979 |
| Mr. Albert A. Prast | Chief Technology Officer | 1960 |
| Mr. Daniel C. Bunting | Chief Operating Officer of Field Operations | 1962 |
| Anton Hie | VP of Investor Relations | NA |
| Mr. Christopher J. Joyce | Gen. Counsel & Sec. | 1964 |
| Ms. Wendy Russalesi | Chief Compliance Officer | NA |
| Leila Vargas | Exec. VP of Sales & Marketing | NA |
| Joel Mills | Chief People Officer | NA |
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