AdaptHealth Corp. (AHCO) Financial Statements
Industry: Home Health Care Services (Services)
In fiscal 2025, AdaptHealth reported revenue of $3.24B, down 0.5% from $3.26B the year before. Net income was -$70.8M (a -2.2% net margin), or -$0.52 per diluted share. Gross margin was 18.8% and operating margin was 2.8%. Operating activities generated $601.8M of cash, leaving $219.4M of free cash flow. At fiscal year end, AdaptHealth held $4.32B in total assets against $2.79B in total liabilities.
Open the full interactive AdaptHealth financials → Quarterly statements, key ratios, valuation history and price charts.
AdaptHealth Key Stats
| Share Price | $6.33 |
|---|---|
| Market Cap | $861.6M |
| Revenue YoY Growth | -0.5% |
| 52-Week Range | $5.22 – $13.38 |
| Shares Outstanding | 136.1 million (basic, 2026 Q2) |
AdaptHealth Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.06B | $2.45B | $2.97B | $3.20B | $3.26B | $3.24B |
| Cost of Goods Sold | $898.6M | $2.01B | $2.55B | $2.72B | $2.58B | $2.64B |
| Gross Profit | $157.8M | $445.6M | $417.4M | $479.6M | $681.1M | $609.2M |
| Operating Income | $71.3M | $225.6M | $190.4M | -$598.4M | $263.7M | $90.9M |
| Pre-Tax Income | -$70.7M | $191.0M | $97.9M | -$723.8M | $136.0M | -$15.2M |
| Income Tax | -$12.0M | $32.8M | $24.8M | -$49.0M | $41.2M | $50.9M |
| Net Income | -$64.5M | $156.2M | $69.3M | -$678.9M | $90.4M | -$70.8M |
| Diluted EPS | -$1.23 | $0.67 | $0.33 | -$5.31 | $0.61 | -$0.52 |
AdaptHealth Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $820.3M | $846.3M | $819.8M | $740.3M |
| Net Income | $24.5M | -$102.8M | -$16.0M | -$133.9M |
| Diluted EPS | $0.16 | -$0.76 | -$0.12 | -$0.99 |
AdaptHealth Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Current Assets | $363.3M | $670.1M | $585.3M | $649.0M | $755.8M | $728.9M |
| Total Assets | $1.81B | $5.25B | $5.22B | $4.51B | $4.49B | $4.32B |
| Current Liabilities | $422.1M | $499.8M | $456.2M | $537.0M | $567.0M | $712.4M |
| Total Long-Term Debt | $784.7M | $2.20B | $2.19B | $2.15B | $1.98B | $1.74B |
| Total Liabilities | $1.42B | $3.18B | $3.06B | $3.04B | $2.91B | $2.79B |
| Shareholders' Equity | $418.3M | $2.06B | $2.15B | $1.46B | $1.57B | $1.52B |
AdaptHealth Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $195.6M | $275.7M | $373.9M | $480.7M | $541.8M | $601.8M |
| Cash From Investing | -$815.7M | -$1.82B | -$411.2M | -$357.3M | -$310.3M | -$303.2M |
| Cash From Financing | $643.2M | $1.60B | -$66.1M | -$92.5M | -$198.9M | -$302.2M |
| Free Cash Flow | $155.9M | $72.4M | -$17.6M | $143.2M | $235.8M | $219.4M |
Figures from AdaptHealth's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full AdaptHealth financials page for every line item.
AdaptHealth Company Profile
| Ticker | AHCO |
|---|---|
| Exchange | Nasdaq |
| Industry | Home Health Care Services (Services) |
| Headquarters | Conshohocken, Pennsylvania |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001725255 |
Frequently Asked Questions
What was AdaptHealth's revenue in fiscal 2025?
AdaptHealth (AHCO) reported revenue of $3.24B for fiscal 2025.
What is AdaptHealth's annual revenue history?
AdaptHealth's annual revenue by fiscal year: 2020: $1.06B; 2021: $2.45B; 2022: $2.97B; 2023: $3.20B; 2024: $3.26B; 2025: $3.24B.
What was AdaptHealth's net income in fiscal 2025?
AdaptHealth reported net income of -$70.8M for fiscal 2025.
What was AdaptHealth's earnings per share (EPS) in fiscal 2025?
AdaptHealth's diluted EPS was -$0.52 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did AdaptHealth generate in fiscal 2025?
AdaptHealth generated $219.4M of free cash flow in fiscal 2025.
What was AdaptHealth's revenue last quarter?
In its most recent reported quarter (2026 Q2), AdaptHealth reported revenue of $740.3M.
How much debt does AdaptHealth have?
AdaptHealth reported $1.74B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of AdaptHealth are outstanding?
AdaptHealth reported a weighted average of 136.1 million basic shares outstanding in 2026 Q2.
What is AdaptHealth's market cap?
Based on its latest closing price, AdaptHealth (AHCO) has a market capitalization of about $861.6M.
When does AdaptHealth's fiscal year end?
AdaptHealth's fiscal year end, as registered with the SEC, is December 31.
Where is AdaptHealth headquartered?
AdaptHealth lists its business address in Conshohocken, Pennsylvania in its SEC filings.