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AdaptHealth Corp.

AHCO Healthcare Medical Devices

Revenue
+10.9%
EPS
−758.8%
Free cash flow
−23.6%
Total debt
+6.85%

Quarter to September 2026, against a year earlier

7.47 0.06 +0.81%
Market cap
$1.0B
P/E
0.0×
Fwd P/E
−4.6×
Dividend yield
—
F-score
4/9
Altman Z
0.91
Beneish M
−3.26
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 49.34
Sold, $m 0.28
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 2 4 — — — — 3 — — —
Sell 1 — — — — — 1 1 — — — —
Insider Ownership 36.68%

Capital & Financial Ratios $m

Size
Market Cap 1,010.00
Revenue ttm 3,443.26
Net income ttm (401.89)
Free cash flow ttm 83.36
Net debt Q 1,824.25
Valuation
P/E 0.00
Forward P/E (4.55) (negative: loss-making)
Price / sales 0.29
Forward P/S Powerpack
Price / FCF 12.06
Price / book 0.82
Financial health
Current ratio Q 1.13
Debt / equity Q 1.54
Interest coverage Q (5.45)
Growth
Revenue growth Q +10.90% (above 0%: growing)
Operating income growth Q −459.48% (below 0%: shrinking)
EPS, this year −125.86% (below 0%: weak)
EPS, next year A +71.71% (at or above 15%: strong)
Revenue, next year A −11.34% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −29.25% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, against a ten-year median of 1.2×; over the ten years it ranged from 0.8× in 2026 to 4.2× in 2021.
P/S against its own 10 years 4.47%
10-year low 10-year high
P/B against its own 10 years 23.73%
10-year low 10-year high
EV/Sales against its own 10 years 3.83%
10-year low 10-year high
EV/FCF against its own 10 years 63.51%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 77 110 106 81
Receivables 389 408 371 396
Inventory 114 140 151 112
Other — 53 — 177
649 756 729 839
2023 2024 2025 Q'26
Payables 392 438 554 601
ST’ Debt 53 16 20 16
Other 53 68 90 73
537 567 712 745

Compound Annual Growth %

10y 5y 3y
Sales — 24.83% 2.99%
Cash Flow — 25.20% 17.19%
Earnings — 0.00% 0.00%
Book Value — 40.29% (10.90%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.03 Actual 0.06

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.24 0.22 Miss by 0.02
Q4 FY25 0.34 0.27 Miss by 0.07
Q1 FY26 0.00 −0.06 Miss by 0.06
Q2 FY26 0.03 0.06 Beat by 0.03

EPS $

Mar Jun Sep Dec Year
’26 (0.12) (0.99) (1.12) — —
’25 (0.05) 0.10 0.16 (0.76) (0.52)
’24 (0.02) 0.13 0.15 0.34 0.61
’23 0.12 0.09 (3.43) (1.91) (5.31)
’22 0.30 0.09 0.11 (0.02) 0.33
’21 (0.03) 0.59 0.42 0.15 0.67
’20 0.00 0.08 (1.08) (1.60) (3.08)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 820 740 746 — —
’25 778 800 672 1,138 3,245
’24 792 806 806 857 3,261
’23 745 793 804 858 3,200
’22 706 728 756 780 2,971
’21 482 617 653 713 2,465
’20 191 232 284 363 1,071
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 94 145 157 — —
’25 96 162 161 183 602
’24 49 198 144 150 542
’23 140 86 99 155 481
’22 66 103 107 97 374
’21 18 129 27 101 276
’20 24 87 34 50 196
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (26) (21) 51 — —
’25 0 73 67 79 219
’24 (39) 117 90 73 241
’23 51 4 22 67 143
’22 (11) 26 13 (46) (18)
’21 (17) 85 (33) 37 72
’20 17 83 22 33 156
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — 345 530 1,071 2,465 2,971 3,200 3,261 3,245 3,443 +37.7% 2,877 2,987 3,130 (1.2%)
Gross margin, % — — 15.03 16.79 16.07 18.51 19.53 19.50 20.89 18.77 15.83 +3.7 pt
EBT — 0 22 (22) (206) 191 98 (724) 136 (15) (436) n/m
EBT margin, % — 0.00 6.44 (4.13) (19.24) 7.75 3.30 (22.62) 4.17 (0.47) (12.66) (0.5) pt
Net income — 0 24 (23) (194) 158 73 (675) 95 (66) (402) n/m
Per share, $
Per share, $ Revenue — 0.00 29.02 23.48 20.40 19.52 22.14 23.85 24.38 24.01 25.24 n/m
Earnings — — 2.05 (1.00) (3.08) 1.12 0.47 (5.06) 0.62 (0.52) (2.99) n/m
Cash flow — 0.00 5.75 2.68 3.73 2.18 2.79 3.58 4.05 4.45 4.24 n/m
Capex — 0.00 (0.84) (0.95) (0.76) (1.61) (2.92) (2.52) (2.25) (2.83) (3.63) n/m
Free cash flow — 0.00 4.91 1.73 2.97 0.57 (0.13) 1.07 1.80 1.62 0.61 n/m
Book value — 0.00 8.64 (1.69) 5.35 16.36 16.08 10.93 11.80 11.29 9.04 +230.2%
Shares, m — 31 12 23 52 126 134 134 134 135 136 +20.2%
Valuation, ×
Valuation, × P/E — — 4.81 0.00 0.00 21.84 40.29 0.00 15.61 0.00 0.00 10.3
P/S — — 0.00 0.47 1.84 1.25 0.87 0.30 0.39 0.40 0.29 0.7
P/B — — 1.14 0.00 7.02 1.49 1.20 0.66 0.81 0.88 0.82 1.7
EV/Sales — — 0.00 1.08 2.48 2.09 1.60 0.96 0.97 0.89 0.82 1.3
EV/FCF — — 3.31 14.68 17.04 71.07 (270.04) 21.42 13.15 13.71 33.94 (14.5)
Cash, $m
Cash, $m Operating cash flow — — 68 60 196 276 374 481 542 602 579 +36.4%
Capex — — (10) (21) (40) (203) (391) (337) (301) (382) (495) +68.4%
Free cash flow — — 58 39 156 72 (18) 143 241 219 83 +20.8%
Balance, $m
Balance, $m Working capital — 0 (45) 27 (59) 170 129 112 189 17 94 n/m
Net debt — 0 109 326 685 2,054 2,146 2,094 1,896 1,663 1,824 n/m
Shareholders’ equity — 0 103 (38) 281 2,067 2,158 1,467 1,578 1,526 1,233 +297.9%
Returns, %
Returns, % ROA — 0.00 12.60 (4.66) (13.70) 4.01 1.21 (13.96) 2.01 (1.61) (9.48) (1.6) pt
ROIC — 0.00 9.17 6.38 4.62 3.42 2.77 (10.50) 4.74 1.78 (6.74) +1.8 pt
ROE — 0.00 45.26 (66.05) (133.20) 12.08 3.00 (37.46) 5.94 (4.56) (28.46) (4.6) pt
People
People Employees — — — 2,590 4,700 10,700 10,900 10,700 10,500 10,900 — +27.1%
Revenue/emp, $m — — 0.00 0.20 0.23 0.23 0.27 0.30 0.31 0.30 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

AdaptHealth Corp. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
IART Integra LifeSciences Holdings Corporation $1.1B 83.0× 26.0× +2.27% (above 0%: growing) n/m +232.94% (above 0%: growing) 51.04% 4.60% Compare
SIBN SiBone $1.1B — (loss-making) — (loss-making) +14.49% (above 0%: growing) n/m +31.13% (above 0%: growing) 79.29% (7.81%) Compare
IRMD iRadimed Corporation $1.1B 44.9× 39.6× +14.15% (above 0%: growing) +15.91% (above 0%: growing) +18.58% (above 0%: growing) 76.26% 33.63% Compare
AHCO AdaptHealth Corp. $1.0B — (loss-making) — (loss-making) +10.90% (above 0%: growing) n/m −23.58% (below 0%: shrinking) 15.40% (20.91%)
CBLL CeriBell, Inc. $1.0B — (loss-making) — (loss-making) +29.89% (above 0%: growing) n/m −19.65% (below 0%: shrinking) 89.77% (70.03%) Compare
BVS Bioventus Inc. $899.9M 12.3× 17.2× +2.73% (above 0%: growing) +100.60% (above 0%: growing) −31.40% (below 0%: shrinking) 68.19% 6.81% Compare
QDEL QuidelOrtho Corporation $880.5M — (loss-making) — (loss-making) −11.57% (below 0%: shrinking) n/m +120.70% (above 0%: growing) 46.79% (1.21%) Compare
BBNX Beta Bionics, Inc. $842.1M — (loss-making) — (loss-making) +30.28% (above 0%: growing) n/m −45.46% (below 0%: shrinking) 57.26% (74.94%) Compare
KIDS OrthoPediatrics Corp. $841.3M — (loss-making) — (loss-making) +18.63% (above 0%: growing) n/m +146.64% (above 0%: growing) 74.28% (5.81%) Compare
Median of peers $955.0M 44.9× 26.0× +14.32% — +24.86% 71.24% (3.51%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 28 April 2026

Ownership

Directors and executive officers, together 1.95%
OEP AHCO Investment Holdings, LLC 11.99%
BlackRock, Inc. 10.78%
Deerfield Management Company, L.P. 8.44%
The Vanguard Group 8.29%
Matthew Ebbel 6.31%
Everest Trust 6.10%
FMR LLC 5.61%
Reinhart Partners, LLC 5.32%
Dimensional Fund Advisors 5.09%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

AdaptHealth Corp. (AHCO) Latest News

4 Nov

Impact 3 · · MT Newswires

3 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat
Impact 3 · · StockStory
Impact 3 · · Business Wire

17 Aug

Impact 4 ·

12 Aug

Impact 3 ·

11 Aug

Impact 4 · · MarketBeat
Impact 3 · · The Motley Fool transcript

9 Aug

Impact 3 · · The Motley Fool

4 Aug

Impact 4 ·
Impact 3 · · Moby
Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 · · InvestorsHub
Impact 3 ·

3 Aug

Impact 3 ·

29 Jul

Impact 3 ·

22 Jul

Impact 3 ·

21 Jul

Impact 3 · · medicaldevice-network.com
Impact 3 · · healthcaredive.com

20 Jul

Impact 4 ·

7 Jul

Impact 3 · · medtechdive.com

6 Jul

Impact 3 · · medicaldevice-network.com

15 May

Impact 3 ·

12 May

Impact 4 · · MarketBeat
Impact 3 · · Insider Monkey

11 May

Impact 3 · · MT Newswires

6 May

Impact 4 · · The Motley Fool transcript
stockrow.com/AHCO · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com