SequelSEC

AdaptHealth Corp. AHCO

Services-Home Health Care Services · CIK 0001725255 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$3.24B
Fiscal year ended 2025-12-31
Operating income
$90.87M
Fiscal year ended 2025-12-31
Free cash flow
$219.38M
Fiscal year ended 2025-12-31

AdaptHealth Corp. (AHCO) reported revenue of $3.24B and net income of -$70.79M for the fiscal year ended 2025-12-31. This page shows 8 annual periods of income statement, balance sheet and cash flow figures normalized from AdaptHealth Corp.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Home Health Care Services.

Income

AdaptHealth Corp. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Revenue$3.24B$3.26B$3.20B$2.97B$2.45B$1.06B$529.64M$345.28M
Cost of revenue$2.64B$2.58B$2.58B$2.39B$2.01B$898.60M$440.70M$293.38M
Gross profit$609.20M$681.09M$624.07M$580.12M$445.61M$157.79M$88.94M$51.89M
Operating income$90.87M$263.73M-$598.40M$190.41M$225.60M$71.35M$29.38M$31.09M
Net income-$70.79M$90.42M-$678.90M$69.32M$156.18M-$161.63M-$21.34M$23.26M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 135.15Mshares 135.53Mshares 134.42Mshares 138.99Mshares 133.03Mshares 52.49Mshares 22.56MUnavailable
Pretax income-$15.15M$136.02M-$723.78M$97.90M$190.96M-$206.04M-$21.86M$22.24M
Income tax expense$50.88M$41.24M-$49.00M$24.77M$32.81M-$11.96M$739.00K-$2.10M
Diluted EPS$-0.52$0.61$-5.31$0.33$0.67$-3.08$-0.95Unavailable
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrative$382.29M$359.24M$334.59M$324.81M$167.50M$89.35M$56.49M$18.07M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

AdaptHealth Corp. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Cash & equivalentsUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$947.10K
Total assets$4.32B$4.49B$4.51B$5.22B$5.25B$1.81B$546.54M$368.96M
Current assets$728.90M$755.79M$649.02M$585.31M$670.06M$363.25M$181.42M$90.79M
Total liabilities$2.79B$2.91B$3.04B$3.06B$3.18B$1.53B$612.32M$266.19M
Current liabilities$712.39M$566.99M$537.00M$456.21M$499.81M$422.05M$154.05M$135.68M
Total equity incl. NCI$1.53B$1.58B$1.47B$2.16B$2.07B$280.84M-$65.78M$0
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$240.55M
Inventory$114.89M$139.84M$113.64M$127.75M$123.10M$58.78M$13.24M$7.67M
Accounts receivable$370.90M$408.02M$388.91M$359.15M$359.90M$171.06M$78.62M$53.02M
Goodwill$2.46B$2.68B$2.72B$3.55B$3.51B$998.81M$266.79M$202.44M
Long-term debt$1.72B$1.96B$2.09B$2.15B$2.18B$776.57M$395.11M$127.09M
Accounts payable$352.38M$281.85M$211.50M$222.50M$248.03M$191.04M$79.24M$70.60M

Cash flow

AdaptHealth Corp. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Operating cash flow$601.77M$541.84M$480.67M$373.87M$275.68M$195.63M$60.42M$68.43M
Capital expenditures$382.39M$306.06M$337.46M$391.42M$203.31M$39.76M$21.33M$9.95M
Investing cash flow-$303.19M-$310.28M-$357.28M-$411.17M-$1.82B-$815.70M-$84.87M-$96.28M
Financing cash flow-$302.19M-$198.95M-$92.53M-$66.05M$1.60B$643.15M$76.14M$48.77M
Net change in cash-$3.61M$32.62M$30.86M-$103.36M$49.66M$23.08M$51.69M$20.91M
Stock-based compensation$21.88M$14.88M$22.47M$22.40M$25.32M$18.67M$11.07M$883.37K
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchases$0$0$29.28M$13.99M$0$0$20.00MUnavailable
Depreciation & amortization$381.93M$365.33M$382.78M$351.18M$258.05M$82.44M$62.57MUnavailable

Derived

AdaptHealth Corp. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Free cash flow$219.38M$235.78M$143.20M-$17.56M$72.37M$155.88M$39.09M$58.48M
Gross margin18.8%20.9%19.5%19.5%18.2%14.9%16.8%15.0%
Operating margin2.8%8.1%-18.7%6.4%9.2%6.8%5.5%9.0%
FCF margin6.8%7.2%4.5%-0.6%2.9%14.8%7.4%16.9%
SBC / revenue0.7%0.5%0.7%0.8%1.0%1.8%2.1%0.3%
Current ratio1.02x1.33x1.21x1.28x1.34x0.86x1.18x0.67x
Revenue YoY growth-0.5%1.9%7.7%21.0%132.4%99.5%53.4%Unavailable
Net margin-2.2%2.8%-21.2%2.3%6.4%-15.3%-4.0%6.7%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue11.8%9.4%10.5%13.2%8.3%3.8%4.0%2.9%
Long-term debt / equity1.12xUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailable30.3%Unavailable25.3%17.2%UnavailableUnavailable-9.4%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open AHCO in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-04View SEC filing
10-Q · Filed 2026-05-05View SEC filing
10-K · Filed 2026-02-24View SEC filing
10-Q · Filed 2025-11-04View SEC filing
10-Q · Filed 2025-08-05View SEC filing
10-Q · Filed 2025-05-06View SEC filing

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Reconciliation checks needing review

1 period on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

balance equationreview2018-12-31

Difference 137781222 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.