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Adapthealth Corp. (AHCO) stock

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NASDAQ: AHCO Nasdaq Health Care Services Next results ~November 3, 2026

Adapthealth Corp. is a US-listed company in the health care services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Adapthealth Corp. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders6 buying, 2 selling16 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds103 adding, 128 cuttingOf 40 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Adapthealth files

Where Adapthealth stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.23bn, up 4.2% on a year earlier, against a decline of 3.2% a quarter earlier. Free-cash-flow margin fell to 3.0% from 7.5% a year earlier. Operating margin narrowed to -4.5% from 8.1%. It passes 2 of our 5 financial-health checks.

Our model value for Adapthealth is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Adapthealth Corp.'s trailing-twelve-month revenue grew 4.2% year on year, with a free-cash-flow margin of 3.0%.

Our discounted-cash-flow model values the business at ~$4.0 per share in the base case (—–$9.8 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 140% in the quarter to 2026-06-30.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 7.3 points higher than a quarter earlier.

Things to watch

  • Loss-making. Operating margin is -4.5%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 12.5 points on a year ago.
  • Volatile shares. Over the past year the shares showed annualised volatility of 62% and a beta of -0.0 against the S&P 500.
  • Gross margin slipping. Gross margin is down 2.7 points on a year ago.
  • Heavily shorted. 10.2% of the shares available to trade are sold short (4.3 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
-$0.07 against an average estimate of $0.17: missed by 139.5%
Revenue
$740m, up 12.7% on a year earlier
Share reaction
-40.0% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
net revenue $2.85bn to $2.89bn (fiscal year 2026); adjusted EBITDA $490m to $520m (fiscal year 2026)
Next report
November 3, 2026; average EPS estimate -$0.06

Adapthealth's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.3%
  • 1 week+3.3%
  • 1 month+7.9%
  • This year-40.7%
  • 1 year-33.5%
  • 5 years-76.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.2B
Operating margin
-4.5%
Net margin
-7.1%
EPS (TTM, diluted)
$-1.69

Growth

Revenue growth
+4.2%
Change in growth rate
+7.3 pts
Share count change
−0.8%

Cash

Free cash flow (TTM)
$97.7M
FCF margin
3.0%
Stock pay % of revenue
0.7%

Earnings

Last results
November 3, 2026
Next results (est.)
February 23, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Leadership
  3. Results
  4. Guidance
  5. Agreement
  6. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Adapthealth Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Our value per share comes from a discounted-cash-flow model of Adapthealth Corp.'s free cash flow after stock-based pay ( $147M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$9.83$10.98$37.56$24.46$19.22$7.29$9.52$9.96$5.91
Market value$234m$248m$2.0bn$3.3bn$2.7bn$980m$1.3bn$1.3bn$799m
+ Net debt (− = net cash)$133m$327m$697m$2.1bn$2.2bn$2.1bn$1.9bn$1.6bn$0
Enterprise value$367m$574m$2.7bn$5.3bn$4.8bn$3.1bn$3.2bn$3.0bn$799m
Multiples
Price / sales 0.7x0.5x1.9x1.3x0.9x0.3x0.4x0.4x0.2x
Price / earnings 10.1x——20.8x38.5x—14.3x——
Price / free cash flow 4.0x6.3x12.6x45.0x—6.8x5.5x6.1x8.2x
EV / EBITDA 4.6x6.2x17.4x11.0x8.9x—5.1x6.3x3.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

25 /100

Weak moat

How hard Adapthealth's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.2% of total assets over 8 years.

  • Pricing power 8 / 20

    Gross margin has been a median 18.0%, moving by 2.3 percentage points (standard deviation) across 7 years.

  • Durability 0 / 20

    Operating margin has been a median 5.2%; its worst year was -17.7%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 7 of 7 years, at a median 5.1% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 45.0% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (30 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $726m and EPS of −$0.06 (range −$0.09 to −$0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.45 −184% $2.9bn −11%
Next −$0.13 +72% $3.0bn +4%

Next year's EPS estimate has moved −110.7% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −154.0% on 90 days ago. In the last 30 days, 0 analysts raised Adapthealth Corp.'s forecast and 0 cut it.

Consensus EPS forecast Adapthealth Corp., last 90 days
−$0.50 $0.00 $0.50 $1.00 $1.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.84 Current fiscal year, 60 days ago: −$0.45 Current fiscal year, 30 days ago: −$0.45 Current fiscal year, 7 days ago: −$0.45 Current fiscal year, Now: −$0.45 −$0.45 Next fiscal year, 90 days ago: $1.17 Next fiscal year, 60 days ago: −$0.13 Next fiscal year, 30 days ago: −$0.13 Next fiscal year, 7 days ago: −$0.12 Next fiscal year, Now: −$0.13 −$0.13

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.84$1.17
60 days ago −$0.45−$0.13
30 days ago −$0.45−$0.13
7 days ago −$0.45−$0.12
Now −$0.45−$0.13

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.17 −$0.07 −139.5%
Mar 2026 $0.01 −$0.05 −529.7%
Dec 2025 $0.34 $0.27 −20.8%
Sept 2025 $0.24 $0.23 −2.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Net revenue fiscal year 2026 $2.85bn to $2.89bn Non-GAAP Lowered
    “Net revenue of $2.85 billion to $2.89 billion” source
  • Adjusted EBITDA fiscal year 2026 $490m to $520m Non-GAAP Lowered
    “Adjusted EBITDA of $490 million to $520 million” source
  • Free cash flow fiscal year 2026 $80m to $120m Non-GAAP Lowered
    “Free cash flow of $80 million to $120 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Adapthealth Corp.'s revenue by -4.8% next year and +3.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-9.1%, weight 64%) and the company's own record (+2.9%, weight 36%) . How the weights are set.

Analyst recommendations

7 analysts, Nov 2026
Buy7100%
Hold00%
Sell00%

Monthly trend

  1. Nov 2026167
  2. Oct 2026167
  3. Sep 2026167

Counts of recommendations published by analysts covering Adapthealth Corp., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.2%
of tradable shares
Days to cover
4.31
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
100%
of shares
Held by insiders
8.3%
of shares
Employees
10,900
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −34.3%

$8.99 on October 31, 2025 to $5.91

ThenNowEffect
Revenue (last 12 months) $3.1bn $3.2bn +4.2%
P/S multiple 0.4x 0.2x −37.4%
Share count 136m 135m +0.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −30.2%

$8.47 on November 3, 2023 to $5.91

ThenNowEffect
Revenue (last 12 months) $3.1bn $3.2bn +4.9%
P/S multiple 0.4x 0.2x −35.0%
Share count 138m 135m +2.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AHCO−35%−21%−62%+31%+5%−41%
Industry peers (median)−1%−28%+8%−6%−9%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AHCO50%42%33%42%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AHCO−54%−53%−71%−25%−36%−61%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since May 31, 2018: 87% from February 1, 2021 to August 10, 2026. Getting back needed a 669% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.22 – $13.38
From 52-week high
−55.8%
vs 50-day average
+0.4%
vs 200-day average
−35.5%
Volatility (1 year)
62%
Beta vs S&P 500
0.00

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 6 down
typical move ±16.3%
After a week
6 up, 5 down
typical move ±15.0%
After a month
8 up, 3 down
typical move ±15.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 −40.0% +1.6% −47.8% −44.2%
May 5, 2026 −12.4% +2.2% −13.7% −25.4%
February 24, 2026 −9.3% +1.6% −8.6% +10.7%
November 4, 2025 +13.8% −0.8% +5.0% +3.2%
August 5, 2025 +8.1% +0.3% +4.7% +1.1%
May 6, 2025 −5.3% −0.4% +3.7% +3.7%
February 25, 2025 +29.8% −0.4% +20.9% +22.6%
November 5, 2024 +0.3% +3.7% +5.3% −4.2%
August 6, 2024 −17.2% +0.2% −11.6% +4.6%
May 7, 2024 −8.6% +0.1% −7.3% +4.9%
February 27, 2024 +34.6% +0.1% +35.9% +48.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Adapthealth Corp.
$3.1B $3.1B $3.2B $3.2B $3.3B $3.3B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $3.1B Revenue (TTM), FY23 Q4: $3.2B Revenue (TTM), FY24 Q1: $3.2B Revenue (TTM), FY24 Q2: $3.3B Revenue (TTM), FY24 Q3: $3.3B Revenue (TTM), FY24 Q4: $3.3B Revenue (TTM), FY25 Q1: $3.2B Revenue (TTM), FY25 Q2: $3.1B Revenue (TTM), FY25 Q3: $3.1B Revenue (TTM), FY25 Q4: $3.1B Revenue (TTM), FY26 Q1: $3.1B Revenue (TTM), FY26 Q2: $3.2B $3.2B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $3.1B
FY23 Q4 $3.2B
FY24 Q1 $3.2B
FY24 Q2 $3.3B
FY24 Q3 $3.3B
FY24 Q4 $3.3B
FY25 Q1 $3.2B
FY25 Q2 $3.1B
FY25 Q3 $3.1B
FY25 Q4 $3.1B
FY26 Q1 $3.1B
FY26 Q2 $3.2B
Revenue growth, TTM YoY Adapthealth Corp.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 7.9% Revenue growth, TTM YoY, FY23 Q4: 7.7% Revenue growth, TTM YoY, FY24 Q1: 7.9% Revenue growth, TTM YoY, FY24 Q2: 6.1% Revenue growth, TTM YoY, FY24 Q3: 4.5% Revenue growth, TTM YoY, FY24 Q4: 1.9% Revenue growth, TTM YoY, FY25 Q1: -0.1% Revenue growth, TTM YoY, FY25 Q2: -5.0% Revenue growth, TTM YoY, FY25 Q3: -4.6% Revenue growth, TTM YoY, FY25 Q4: -4.9% Revenue growth, TTM YoY, FY26 Q1: -3.2% Revenue growth, TTM YoY, FY26 Q2: 4.2% 4.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 7.9%
FY23 Q4 7.7%
FY24 Q1 7.9%
FY24 Q2 6.1%
FY24 Q3 4.5%
FY24 Q4 1.9%
FY25 Q1 -0.1%
FY25 Q2 -5.0%
FY25 Q3 -4.6%
FY25 Q4 -4.9%
FY26 Q1 -3.2%
FY26 Q2 4.2%
Operating margin (TTM) Adapthealth Corp.
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -11.3% Operating margin (TTM), FY23 Q4: -18.7% Operating margin (TTM), FY24 Q1: -17.7% Operating margin (TTM), FY24 Q2: -17.7% Operating margin (TTM), FY24 Q3: -1.6% Operating margin (TTM), FY24 Q4: 8.1% Operating margin (TTM), FY25 Q1: 7.3% Operating margin (TTM), FY25 Q2: 8.1% Operating margin (TTM), FY25 Q3: 8.0% Operating margin (TTM), FY25 Q4: 2.5% Operating margin (TTM), FY26 Q1: 1.9% Operating margin (TTM), FY26 Q2: -4.5% -4.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -11.3%
FY23 Q4 -18.7%
FY24 Q1 -17.7%
FY24 Q2 -17.7%
FY24 Q3 -1.6%
FY24 Q4 8.1%
FY25 Q1 7.3%
FY25 Q2 8.1%
FY25 Q3 8.0%
FY25 Q4 2.5%
FY26 Q1 1.9%
FY26 Q2 -4.5%
FCF margin (TTM) Adapthealth Corp.
0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 1.0% FCF margin (TTM), FY23 Q4: 4.5% FCF margin (TTM), FY24 Q1: 1.6% FCF margin (TTM), FY24 Q2: 5.1% FCF margin (TTM), FY24 Q3: 7.0% FCF margin (TTM), FY24 Q4: 7.2% FCF margin (TTM), FY25 Q1: 8.5% FCF margin (TTM), FY25 Q2: 7.5% FCF margin (TTM), FY25 Q3: 6.9% FCF margin (TTM), FY25 Q4: 7.1% FCF margin (TTM), FY26 Q1: 6.1% FCF margin (TTM), FY26 Q2: 3.0% 3.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 1.0%
FY23 Q4 4.5%
FY24 Q1 1.6%
FY24 Q2 5.1%
FY24 Q3 7.0%
FY24 Q4 7.2%
FY25 Q1 8.5%
FY25 Q2 7.5%
FY25 Q3 6.9%
FY25 Q4 7.1%
FY26 Q1 6.1%
FY26 Q2 3.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 345 530 1,056 2,455 2,971 3,200 3,261 3,245 3,227
Gross profit 52 89 158 446 580 624 681 609 550
EBITDA 79 92 154 484 542 −216 629 473 266
Operating income 31 29 71 226 190 −598 264 91 −144
Net income 23 −21 −162 156 69 −679 90 −71 −228
Diluted EPS $0.97 −$0.95 −$3.08 $0.67 $0.33 −$5.31 $0.61 −$0.52 −$1.69
Growth (year on year)
Revenue — +53.4% +99.5% +132.4% +21.0% +7.7% +1.9% −0.5% +4.2%
EBITDA — +16.4% +67.3% +214.5% +12.0% −139.8% — −24.8% −56.1%
Operating income — −5.5% +142.9% +216.2% −15.6% −414.3% — −65.5% −157.5%
Net income — −191.7% — — −55.6% <−999% — −178.3% −383.2%
Diluted EPS — −197.4% — — −50.7% <−999% — −185.2% −385.5%
Margins
Gross margin 15.0% 16.8% 14.9% 18.2% 19.5% 19.5% 20.9% 18.8% 17.0%
EBITDA margin 22.9% 17.4% 14.6% 19.7% 18.2% −6.7% 19.3% 14.6% 8.2%
Operating margin 9.0% 5.5% 6.8% 9.2% 6.4% −18.7% 8.1% 2.8% −4.5%
Net margin 6.7% −4.0% −15.3% 6.4% 2.3% −21.2% 2.8% −2.2% −7.1%
Free-cash-flow margin 16.9% 7.4% 14.8% 2.9% −0.6% 4.5% 7.2% 6.8% 3.0%
Cash flow
Cash from operations 68 60 196 276 374 481 542 602 583
Capital spending 10 21 40 203 391 337 306 382 486
Free cash flow 58 39 156 72 −18 143 236 219 98
Stock-based pay 1 11 19 25 22 22 15 22 22
Free cash flow after stock pay 58 28 137 47 −40 121 221 198 75
Balance sheet
Cash 1 77 100 150 46 77 110 106 —
Total debt 134 403 797 2,235 2,215 2,170 2,000 1,750 1,888
Net debt (negative = net cash) 133 327 697 2,085 2,169 2,093 1,890 1,644 —
Diluted shares 24m 23m 52m 133m 139m 134m 136m 135m 135m
Returned to shareholders
Buybacks — 20 0 0 14 29 0 0 —
Total returned — 20 0 0 14 29 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $4.3bn
Short-term assets $797mLonger-term assets $3.5bn
What it owes, and who funded it · $4.3bn
Short-term liabilities $709mLonger-term liabilities $2.2bnShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $797m of assets due within a year against $709m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $797m short-term assets against $2.2bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Debt is 137% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 106% to 137% over five years.
  • A year's operating cash flow covers at least 20% of debt $583m of operating cash flow against $1.9bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Adapthealth Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$29.3M
Diluted share count
−0.8%
year over year
Days sales outstanding
44 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care services
Last 12 months unless stated AHCO AMN ASTH CHE AVAH HIMS Median
Revenue, last 12 months $3.2bn $3.4bn $3.8bn $2.7bn $2.6bn $2.6bn $1.2bn
Revenue growth, last 12 months 4.2% 24.0% 58.9% 5.2% 19.5% 28.0% 7.2%
Revenue growth, 3-year average 1.6% −7.8% 43.7% 6.1% 12.4% 53.7% 11.2%
Revenue growth, latest quarter 12.7% 2.3% 48.5% 10.6% 13.7% 38.2% 8.6%
Gross margin 17.0% 27.8% 21.5% 33.5% 32.3% 68.4% 27.8%
Operating margin −4.5% 5.8% 2.6% 13.9% 10.5% −6.0% 2.0%
Operating margin, 3-year average −4.7% 0.5% 3.8% 14.4% 7.0% 0.5% 2.0%
Net margin −7.1% 3.1% 1.1% 10.6% 10.6% −5.5% 1.1%
Cash from operations / revenue 18.1% 13.7% 2.8% 13.6% 6.5% 10.2% 6.3%
Free-cash-flow margin 3.0% 12.8% 2.5% 11.1% 6.0% 2.4% 4.2%
Free-cash-flow margin, 3-year average 5.2% 9.5% 3.5% 11.6% 3.2% — 3.7%
Stock pay / revenue 0.7% 0.9% 1.1% — 0.7% 6.0% 1.0%
Change in share count −0.8% 2.1% 1.8% −8.3% 11.4% 0.3% 0.3%

Median of all 42 companies we cover in health care services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Sleep Health $1.4B 42.5% ▲ 2.1%
Respiratory Health $691M 21.3% ▲ 6.1%
Diabetes Health $592M 18.3% ▼ 3.6%
Wellness At Home $583M 18.0% ▼ 9.8%

From Adapthealth Corp.'s 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.5B
Institutions reporting
236
Shares held vs prior quarter
▲ 0.1%
Positions opened / closed
24 / 26

Top buyers and sellers, Q2 2026: 103 institutions bought and 128 sold ; the biggest buyer was Arrowstreet Capital, Limited Partnership (+1.2M shares) and the biggest seller Reinhart Partners, Llc (−2.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Oep Capital Advisors, L.P. $170M 16.3M 11.5% 0.0%
Blackrock, Inc. $167M 16.1M 11.4% ▲ 0.8%
Deerfield Management Company, L.P. $120M 11.5M 8.1% 0.0%
Skyknight Capital, L.P. $89.4M 8.6M 6.1% 0.0%
FMR LLC $82.1M 7.9M 5.6% ▼ 2.1%
Dimensional Fund Advisors LP $79.9M 7.7M 5.4% ▲ 10.8%
Reinhart Partners, Llc. $77.3M 7.4M 5.2% ▼ 26.4%
Vanguard Portfolio Management LLC $67M 6.4M 4.5% ▲ 5.2%
Vanguard Capital Management LLC $50.5M 4.8M 3.4% ▲ 7.7%
State Street Corp $48.2M 4.6M 3.3% ▲ 7.8%
Principal Financial Group Inc $34.4M 3.3M 2.3% ▲ 18.7%
Segall Bryant & Hamill, LLC $33.5M 3.2M 2.3% ▼ 7.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Adapthealth Corp.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $49.3M 16 trades by 6 insiders, last 12 months Insider sales History → $278,288 3 trades by 2 insiders · 83% under pre-set plans
Net ▲ $49.1M net buying
Insider Date Trade Shares Price Value
Wolf Dale B Director August 7, 2026 Buy 20,000 $5.86 $117,200
Wolf Dale B Director August 6, 2026 Buy 20,000 $6.37 $127,400
Samet Kenneth A Director August 6, 2026 Buy 23,500 $6.38 $149,930
Wolf Dale B Director August 6, 2026 Buy 20,000 $6.30 $126,000
Schuster Iii Russell E. Chief Commercial Officer July 1, 2026 Sell pre-set plan 11,275 $10.44 $117,711
Schuster Iii Russell E. Chief Commercial Officer June 1, 2026 Sell pre-set plan 11,275 $10.06 $113,426
Cashin Richard M Jr 10% owner March 20, 2026 Buy 447,100 $9.91 $4.4M
Oep Vii Project A Co-Investment Partners, L.P. 10% owner March 20, 2026 Buy 447,100 $9.91 $4.4M
Cashin Richard M Jr 10% owner March 19, 2026 Buy 727 $9.94 $7,226
Oep Vii Project A Co-Investment Partners, L.P. 10% owner March 19, 2026 Buy 727 $9.94 $7,226
Cashin Richard M Jr 10% owner March 12, 2026 Buy 689,336 $9.73 $6.7M
Oep Vii General Partner, L.P. 10% owner March 12, 2026 Buy 689,336 $9.73 $6.7M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 14 trades and filings

No trades in Adapthealth Corp. disclosed in the last 12 months; 14 earlier trades on record.

  • Kevin Hern(R-OK 1):Sale (full), $1,001 - $15,000, traded April 6, 2023, filed May 11, 2023
  • Kevin Hern(R-OK 1):Sale (full), $1,001 - $15,000, traded April 6, 2023, filed May 11, 2023
  • Susie Lee(D-NV 3):Sale (full), $1,001 - $15,000, traded November 30, 2022, filed December 29, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 23, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • August 4, 2026
  • May 5, 2026
  • February 24, 2026
  • November 4, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on Adapthealth Corp. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Adapthealth Corp. in brief

What does Adapthealth Corp. do?
Adapthealth Corp. is a US-listed company in the health care services industry. Its financial year ends in December.
What is Adapthealth Corp.'s stock ticker?
Adapthealth Corp. trades under the ticker AHCO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Adapthealth Corp.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Adapthealth Corp. reported revenue of $3.2B, 4.2% higher than a year earlier, according to its SEC filings.
What is Adapthealth Corp.'s free cash flow?
Adapthealth Corp.'s free-cash-flow margin is 3.0% of revenue over the trailing twelve months.
Who are Adapthealth Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Oep Capital Advisors, L.P., Blackrock, Inc. and Deerfield Management Company, L.P. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Adapthealth Corp.'s market cap?
On November 2, 2026, Adapthealth Corp.'s market capitalisation was about $799M and net debt of $0. Market figures come from third-party market data and may be delayed.
How much debt does Adapthealth Corp. have?
Adapthealth Corp.'s debt-to-equity ratio is 137.0%, from its latest balance sheet (105.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Adapthealth Corp.'s competitors?
In our Health Care Services peer group, the companies closest to Adapthealth Corp. are AMN Healthcare Services Inc, Astrana Health, Inc., Chemed Corp, Aveanna Healthcare Holdings, Inc. and Hims & Hers Health, Inc. The side-by-side comparison below sets their revenue, margins and growth against Adapthealth Corp.'s.
Are insiders buying or selling Adapthealth Corp. stock?
Over the last 12 months, Adapthealth Corp.'s directors and officers reported 16 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Adapthealth Corp.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Adapthealth Corp. announces its own schedule.