AdaptHealth Corp. (AHCO) vs iRadimed Corporation (IRMD)

AdaptHealth Corp. and iRadimed Corporation are both Medical Devices companies. AdaptHealth Corp. and iRadimed Corporation are of similar size ($1.1B and $1.0B). AdaptHealth Corp. has negative trailing earnings, so its P/E is not meaningful; iRadimed Corporation trades at 44.9×. iRadimed Corporation grew revenue faster over the last twelve months: 11.0% against 10.8%. iRadimed Corporation has the higher net margin (26.9% vs −11.8%) and the higher return on invested capital (41.8% vs −6.74%). Across the 21 metrics below, iRadimed Corporation leads on 14 and AdaptHealth Corp. on 7.

Valuation

Metric AHCO IRMD Medical Devices median
P/E n/m 44.90 25.58
P/S 0.29 12.15 2.54
P/B 0.82 10.19 2.48
Price to free cash flow 12.06 44.05 28.81
EV/EBITDA 4.92 33.49 11.51
EV/Sales 0.82 11.44 2.72
Earnings yield (40.57%) 2.23% (12.82%)
Free cash flow yield 8.29% 2.27% (8.18%)

Profitability

Metric AHCO IRMD Medical Devices median
Gross margin 15.83% 75.51% 57.76%
Operating margin (9.57%) 32.30% (15.07%)
Net margin (11.81%) 26.85% (14.45%)
Free cash flow margin 2.42% 28.66% (3.88%)
Return on equity (28.46%) 23.42% (10.35%)
Return on assets (9.48%) 20.34% (17.26%)
Return on invested capital (6.74%) 41.79% (5.27%)

Growth

Metric AHCO IRMD Medical Devices median
Revenue growth (TTM) 10.81% 10.97% 10.41%
EPS growth (last fiscal year) (185.25%) 16.67% 28.17%
Revenue growth, 5-year CAGR 24.83% 21.45% 15.74%
Net income growth, 5-year CAGR 0.00% 75.02% 0.00%

Health

Metric AHCO IRMD Medical Devices median
Debt to equity 1.54 0.00 0.04
Current ratio 1.13 8.99 2.74
Net debt to EBITDA 2.74 (1.87) 0.54

Dividend

Metric AHCO IRMD Medical Devices median
Dividend yield — 0.91% 1.02%
Payout ratio — 0.41 0.37

Size

Metric AHCO IRMD Medical Devices median
Market cap 1.01b 1.09b 239.53m

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