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Adapthealth Corp (AHCO) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · MEDICAL DEVICES · DATA UPDATED 2026-09-19

Adapthealth Corp (AHCO) operates in the MEDICAL DEVICES industry and is headquartered in Conshohocken, United States with about 10,900 employees. Its market capitalization is roughly $760 million. In the fiscal year ended 2025-12-31, AHCO reported $3.2B in revenue and ($71M) in net income.

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.

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AHCO Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Total Revenue$3.0B$3.2B$3.3B$3.2B$3.0B$2.5B$1.1B$530M$345M$193M$174M
Gross Profit$312M$569M$681M$682M$417M$446M$158M$89M$60M$30M$16M
Gross Margin %10.4%17.5%20.9%21.3%14.1%18.1%14.9%16.8%17.4%15.4%9.0%
Operating Income (EBIT)($9M)$186M$264M($598M)$190M$226M$71M$29M($1M)$0M$2M
Operating Margin %-0.3%5.7%8.1%-18.7%6.4%9.2%6.8%5.5%-0.4%-0.0%1.3%
Net Income($228M)($71M)$90M($679M)$69M$156M($162M)($21M)$2M$0M($4M)
Net Margin %-7.6%-2.2%2.8%-21.2%2.3%6.4%-15.3%-4.0%0.6%-0.0%-2.2%
EBITDA$290M$504M$628M($171M)$631M$544M($82M)$80M$7M$0M$29M
Earnings Per Share (EPS)$-1.68$-0.52$0.67$-5.05$0.50$1.17$-3.08$-0.95$0.07$-0.00$-0.12
Shares Outstanding (M)136M135M136M134M139M133M52M23M31M31M31M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AHCO Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total Revenue$740M$820M$846M$603M$592M$580M$857M$598M
Gross Profit$104M$101M$162M($56M)($54M)($77M)$328M($84M)
Gross Margin %14.1%12.4%19.2%-9.2%-9.1%-13.3%38.3%-14.1%
Operating Income (EBIT)($138M)$7M$54M$67M$79M$23M$98M$63M
Operating Margin %-18.6%0.8%6.4%11.1%13.4%4.0%11.4%10.6%
Net Income($134M)($16M)($103M)$25M$15M($7M)$50M$23M
Net Margin %-18.1%-2.0%-12.1%4.1%2.5%-1.2%5.9%3.8%
EBITDA($16M)$123M$24M$159M$156M$123M$191M$154M
Earnings Per Share (EPS)$-0.98$-0.12$-0.76$0.18$0.11$-0.05$0.37$0.17
Shares Outstanding (M)136M136M135M137M137M135M137M137M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AHCO Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Cash from Operations (CFO)$583M$602M$542M$481M$374M$276M$196M$60M$68M$46M$30M
Capital Expenditures (CapEx)$486M$382M$306M$337M$391M$203M$40M$21M$10M$7M$2M
Free Cash Flow (FCF)$98M$219M$236M$143M($18M)$72M$156M$39M$58M$39M$27M
FCF Margin %3.2%6.8%7.2%4.5%-0.6%2.9%14.8%7.4%16.9%20.3%15.8%
Dividends Paid$4M$936M$82M$250M$250M$250M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AHCO Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Cash from Operations (CFO)$145M$94M$183M$161M$162M$96M$150M$144M
Capital Expenditures (CapEx)$166M$121M$104M$94M$89M$96M$77M$60M
Free Cash Flow (FCF)($21M)($27M)$79M$67M$73M$0M$73M$85M
FCF Margin %-2.8%-3.4%9.4%11.1%12.4%-0.0%8.5%14.2%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AHCO Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Total Assets$4.3B$4.3B$4.5B$4.5B$5.2B$5.2B$1.8B$228M$254M$0M
Cash & Cash Equivalents$43M$106M$110M$77M$46M$150M$100M$10M$1M$0M
Total Liabilities$3.0B$2.8B$2.9B$3.0B$3.1B$3.2B$1.5B$213M$9M$0M
Total Debt (Short + Long-Term)$1.9B$1.8B$2.0B$2.2B$2.2B$2.2B$807M$397M$155M$63M
Total Shareholders' Equity$1.4B$1.5B$1.6B$1.5B$2.2B$2.1B$355M$15M$246M$0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive AHCO viewer.

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