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Brightspring Health Services, Inc. (BTSG) stock

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NASDAQ: BTSG Nasdaq Health Care Services Next results ~January 25, 2027

C+ Fundamentals grade

Brightspring Health Services, Inc. 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

~$80

Cash-flow model

Base case. Range ~$59–$110 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 17% below our base value.

Price used: $66.26, November 2, 2026

Brightspring Health Services, Inc. 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.

  • Insiders0 buying, 6 selling0 purchases and 9 sales by directors and officers, last 12 monthsInsider trades
  • Funds297 adding, 123 cuttingOf 69 active managers that changed their stake, 36 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Brightspring Health Services files

10-Q filed October 30: Brightspring Health Services

Brightspring Health Services posted revenue of $15.3bn for the twelve months to September 2026, up 35.9% on a year earlier and faster than the 33.2% growth seen a quarter earlier. Among the 36 health care services companies we cover, that pace ranks sixth. Free-cash-flow margin was unchanged at 3.2%. Meanwhile, the diluted share count climbed 6.4% year on year, diluting existing holders. Our cash-flow model puts fair value at $71.85 a share, above the current price of $66.89. Given this gap, the rating remains Hold.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 31: Brightspring Health Services

Brightspring Health Services posted revenue of $15.3bn for the twelve months to June 2026, a 35.9% increase on the year before and an acceleration from the 33.2% growth recorded a quarter earlier. Among the 36 health care services companies covered here, that pace of growth ranks sixth. Free-cash-flow margin, meanwhile, held steady at 3.2%, showing no improvement despite the stronger top line. Less encouraging is the share count, which has risen 6.4% year on year. That dilution means existing holders now own a smaller slice of the business than they did twelve months ago, even as revenue has expanded sharply. Overall, the growth figures stand out more than the underlying cash conversion or share-count discipline.

10-Q on SEC EDGAR

Where Brightspring Health Services stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $14.4bn, up 33.2% on a year earlier, faster than the 31.5% growth a quarter earlier. That growth ranks 3 of 21 among the health care services companies we cover. Free-cash-flow margin rose to 2.8% from 1.8% a year earlier. The diluted share count is up 8.6% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks.

10-Q on SEC EDGAR

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 ~January 25, 2027 (estimated)

Brightspring Health Services, Inc.'s trailing-twelve-month revenue grew 35.9% year on year, with a free-cash-flow margin of 3.2%. Where it stands out: stock pay as % of revenue of 0.4% ranks 4 of 35 health care services companies we cover. Where it lags: gross margin of 12.5% ranks 24 of 27 health care services companies we cover.

Our discounted-cash-flow model values the business at ~$80 per share in the base case (~$59–$110 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 78.3% while net income grew 216.6%: a 138pp divergence.

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

  • Priced below our value. The share price of $66.26 is 20% below our value per share of $80.
  • Fast growth. Revenue grew 35.9% over the last 12 months, against a median of 7.3% for health care services companies we cover.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 6.8% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 6.4% in a year.
  • Insiders selling. 6 insiders sold $1,689M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Below peers: gross margin. Gross margin of 12.5% ranks 24 of 27 health care services companies we cover (median 29.0%).

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$0.54 against an average estimate of $0.47: beat by 14.7%
Revenue
$4.21bn, up 26.4% on a year earlier
Share reaction
+10.0% in the first session after the results on October 30, 2026, against -2.2% for the S&P 500
Guidance given
revenues $15,900m to $16,125m (full year 2026); revenue growth growth 23.2% to 24.9% (full year 2026)
Next report
October 30, 2026; average EPS estimate $0.51

Brightspring Health Services' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week+12.5%
  • 1 month+10.0%
  • This year+76.9%
  • 1 year+100.5%
  • 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)
$15.3B
Operating margin
3.4%
Net margin
2.7%
EPS (TTM, diluted)
$1.84

Growth

Revenue growth
+35.9%
Change in growth rate
+2.8 pts
Share count change
+6.4%

Cash

Free cash flow (TTM)
$492M
FCF margin
3.2%
Stock pay % of revenue
0.4%

Earnings

Last results
October 30, 2026
Next results (est.)
January 25, 2027

News & updates

Updated November 1, 2026

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

  1. Our research
  2. Results
  3. Guidance
  4. Partnership
  5. Announcement
  6. Partnership
  7. Announcement
  8. Announcement
  9. Partnership
  10. Announcement
  11. Announcement
  12. Partnership
  13. Announcement
  14. Results

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

Brightspring Health Services, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 15.5% a year of cash-flow growth for five years.

  • Priced in15.5%
  • Last 12 months35.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($67.03, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$80
Price used
$67.03close November 3, 2026
Implied change
▲ +19%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Brightspring Health Services, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($417M, FY2026 Q3 TTM), growing 14.3% and 17.6% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$59–~$110 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Brightspring Health Services, Inc.'s free cash flow after stock-based pay ( $417M, FY2026 Q3 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 models

We value Brightspring Health Services, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$80 ~$59–$110 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$57 ~$35–$73 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$40 ~$33–$58 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$9.7 ~$6.3–$15 Left out: out of range vs price (0.15x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$9.4 ~$8.1–$11 Left out: out of range vs price (0.14x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$64 ~$40–$80 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Brightspring Health Services, Inc. with Health Care Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −27%
  • Last year's free-cash-flow margin change, if it persists ▲ +26%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $23$33$48$67$91$123
8.5% $16$23$34$47$65$87
10% $11$17$25$36$49$66

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025Now
Share price$17.03$37.45$66.26
Market value$3.3bn$8.2bn$14.8bn
+ Net debt (− = net cash)$2.6bn$2.5bn$1.5bn
Enterprise value$5.9bn$10.7bn$16.3bn
Multiples
Price / sales 0.3x0.6x1.0x
Price / earnings —43.2x36.0x
Price / free cash flow —20.9x30.0x
EV / EBITDA 18.9x23.3x24.0x

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

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

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

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.82 +82% $15.4bn +19%
Next $2.28 +25% $17.4bn +13%

Next year's EPS estimate has moved +6.8% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +7.7% on 90 days ago. In the last 30 days, 1 analyst raised Brightspring Health Services, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Brightspring Health Services, Inc., last 90 days
$1.60 $1.80 $2.00 $2.20 $2.40 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.69 Current fiscal year, 60 days ago: $1.82 Current fiscal year, 30 days ago: $1.82 Current fiscal year, 7 days ago: $1.82 Current fiscal year, Now: $1.82 $1.82 Next fiscal year, 90 days ago: $2.13 Next fiscal year, 60 days ago: $2.28 Next fiscal year, 30 days ago: $2.28 Next fiscal year, 7 days ago: $2.28 Next fiscal year, Now: $2.28 $2.28

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.69$2.13
60 days ago $1.82$2.28
30 days ago $1.82$2.28
7 days ago $1.82$2.28
Now $1.82$2.28

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.47 $0.54 +14.7%
Jun 2026 $0.40 $0.45 +13.0%
Mar 2026 $0.31 $0.39 +26.1%
Dec 2025 $0.35 $0.33 −4.7%

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

Management guidance

Earnings release, October 30, 2026
  • Revenues full year 2026 $15,900m to $16,125m Raised
    “Revenues of $15,900 million to $16,125 million, or 23.2% to 24.9% growth” source
  • Revenue growth full year 2026 23.2% growth to 24.9% growth Raised
    “Revenues of $15,900 million to $16,125 million, or 23.2% to 24.9% growth” source
  • Pharmacy Segment Revenue full year 2026 $14,000m to $14,200m Raised
    “Pharmacy Segment Revenue of $14,000 million to $14,200 million, or 22.3% to 24.1% growth” source
  • Pharmacy Segment Revenue growth full year 2026 22.3% growth to 24.1% growth Raised
    “Pharmacy Segment Revenue of $14,000 million to $14,200 million, or 22.3% to 24.1% growth” source
  • Provider Segment Revenue full year 2026 $1,900m to $1,925m Raised
    “Provider Segment Revenue of $1,900 million to $1,925 million, or 29.7% to 31.4% growth” source
  • Provider Segment Revenue growth full year 2026 29.7% growth to 31.4% growth Raised
    “Provider Segment Revenue of $1,900 million to $1,925 million, or 29.7% to 31.4% growth” source
Show 3 more items
  • Total Adjusted EBITDA full year 2026 $850m to $860m Non-GAAP Raised
    “Total Adjusted EBITDA 3 of $850 million to $860 million, or 37.6% to 39.3% growth” source
  • Total Adjusted EBITDA growth full year 2026 37.6% growth to 39.3% growth Non-GAAP Raised
    “Total Adjusted EBITDA 3 of $850 million to $860 million, or 37.6% to 39.3% growth” source
  • Amedisys and LHC branches acquisition Adjusted EBITDA contribution 2026 about $35m Non-GAAP
    “The Amedisys and LHC branches acquisition is expected to contribute approximately $35 million in Adjusted EBITDA in 2026” 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 Brightspring Health Services, Inc.'s revenue by +14.3% next year and +17.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.9%, weight 47%) , management guidance (+15.6%, weight 32%) and the company's own record (+20.0%, weight 21%) . How the weights are set.

Analyst recommendations

18 analysts, Oct 2026
Buy18100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202631518
  2. Sep 202631518
  3. Aug 202631518
  4. Jul 202631518

Counts of recommendations published by analysts covering Brightspring Health Services, Inc., 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
8.9%
of tradable shares
Days to cover
4.68
at average volume
Short interest, 1 month
+13%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
3.1%
of shares
Employees
23,500
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 +100.5%

$33.05 on October 31, 2025 to $66.26

ThenNowEffect
Revenue (last 12 months) $10.8bn $14.4bn +33.2%
Net margin 0.6% 2.5% +319.4%
P/E multiple 103.2x 40.3x −61.0%
Share count 205m 222m −7.9%

Biggest factor: net margin.

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 20252026 to date
Return
BTSG+120%+77%
Industry peers (median)−9%+15%
S&P 500+18%+11%
Months that ended higher
BTSG58%64%
S&P 50075%46%
Largest fall from a high during the year
BTSG−36%−24%
S&P 500−19%−9%

Worst fall since January 26, 2024: 36% from January 30, 2025 to April 21, 2025. Getting back needed a 55% gain, reached on May 16, 2025, 25 days after the low.

Price behaviour

52-week range
$31.36 – $72.91
From 52-week high
−9.1%
vs 50-day average
+10.3%
vs 200-day average
+20.9%
Volatility (1 year)
45%
Beta vs S&P 500
1.11

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
8 up, 4 down
typical move ±9.1%
After a week
7 up, 4 down
typical move ±11.9%
After a month
9 up, 2 down
typical move ±13.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 30, 2026 +10.0% −2.2% — —
July 31, 2026 −17.0% +2.2% −14.3% −19.9%
May 1, 2026 +11.6% −0.1% +14.3% +23.7%
February 27, 2026 +3.6% −0.4% +3.4% +3.5%
October 28, 2025 +0.7% +0.3% −5.3% +7.8%
October 20, 2025 +8.5% +1.0% +13.8% +6.1%
August 1, 2025 −6.2% −0.1% +0.6% +15.6%
May 2, 2025 +18.2% +0.9% +27.5% +32.1%
March 6, 2025 −4.9% −1.2% −7.8% −6.7%
November 1, 2024 +12.3% +0.2% +30.7% +26.8%
August 2, 2024 −8.7% −4.7% −5.6% +2.4%
May 2, 2024 +7.9% +2.2% +8.0% +8.1%

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.

Options strategies

All options ideas

How Brightspring Health Services, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Brightspring Health Services, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Brightspring Health Services, Inc.
$6B $8B $10B $12B $14B $16B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $7.7B Revenue (TTM), FY24 Q1: $8.2B Revenue (TTM), FY24 Q2: $8.8B Revenue (TTM), FY24 Q3: $9.5B Revenue (TTM), FY24 Q4: $10.1B Revenue (TTM), FY25 Q1: $10.4B Revenue (TTM), FY25 Q2: $10.8B Revenue (TTM), FY25 Q3: $11.2B Revenue (TTM), FY25 Q4: $12.9B Revenue (TTM), FY26 Q1: $13.6B Revenue (TTM), FY26 Q2: $14.4B Revenue (TTM), FY26 Q3: $15.3B $15.3B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $7.7B
FY24 Q1 $8.2B
FY24 Q2 $8.8B
FY24 Q3 $9.5B
FY24 Q4 $10.1B
FY25 Q1 $10.4B
FY25 Q2 $10.8B
FY25 Q3 $11.2B
FY25 Q4 $12.9B
FY26 Q1 $13.6B
FY26 Q2 $14.4B
FY26 Q3 $15.3B
Revenue growth, TTM YoY Brightspring Health Services, Inc.
15% 20% 25% 30% 35% 40% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q3 Revenue growth, TTM YoY, FY24 Q4: 31.0% Revenue growth, TTM YoY, FY25 Q1: 25.9% Revenue growth, TTM YoY, FY25 Q2: 22.6% Revenue growth, TTM YoY, FY25 Q3: 18.7% Revenue growth, TTM YoY, FY25 Q4: 28.2% Revenue growth, TTM YoY, FY26 Q1: 31.5% Revenue growth, TTM YoY, FY26 Q2: 33.2% Revenue growth, TTM YoY, FY26 Q3: 35.9% 35.9%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q4 31.0%
FY25 Q1 25.9%
FY25 Q2 22.6%
FY25 Q3 18.7%
FY25 Q4 28.2%
FY26 Q1 31.5%
FY26 Q2 33.2%
FY26 Q3 35.9%
Operating margin (TTM) Brightspring Health Services, Inc.
-1% 0% 1% 2% 3% 4% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 0.8% Operating margin (TTM), FY24 Q1: -0.1% Operating margin (TTM), FY24 Q2: -0.6% Operating margin (TTM), FY24 Q3: 0.3% Operating margin (TTM), FY24 Q4: 1.1% Operating margin (TTM), FY25 Q1: 1.7% Operating margin (TTM), FY25 Q2: 1.7% Operating margin (TTM), FY25 Q3: 2.2% Operating margin (TTM), FY25 Q4: 2.3% Operating margin (TTM), FY26 Q1: 2.7% Operating margin (TTM), FY26 Q2: 3.1% Operating margin (TTM), FY26 Q3: 3.4% 3.4%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 0.8%
FY24 Q1 -0.1%
FY24 Q2 -0.6%
FY24 Q3 0.3%
FY24 Q4 1.1%
FY25 Q1 1.7%
FY25 Q2 1.7%
FY25 Q3 2.2%
FY25 Q4 2.3%
FY26 Q1 2.7%
FY26 Q2 3.1%
FY26 Q3 3.4%
FCF margin (TTM) Brightspring Health Services, Inc.
-1% 0% 1% 2% 3% 4% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 1.8% FCF margin (TTM), FY24 Q1: 0.2% FCF margin (TTM), FY24 Q2: 0.2% FCF margin (TTM), FY24 Q3: 0.1% FCF margin (TTM), FY24 Q4: -0.6% FCF margin (TTM), FY25 Q1: 1.2% FCF margin (TTM), FY25 Q2: 1.8% FCF margin (TTM), FY25 Q3: 2.5% FCF margin (TTM), FY25 Q4: 3.1% FCF margin (TTM), FY26 Q1: 3.0% FCF margin (TTM), FY26 Q2: 2.8% FCF margin (TTM), FY26 Q3: 3.2% 3.2%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 1.8%
FY24 Q1 0.2%
FY24 Q2 0.2%
FY24 Q3 0.1%
FY24 Q4 -0.6%
FY25 Q1 1.2%
FY25 Q2 1.8%
FY25 Q3 2.5%
FY25 Q4 3.1%
FY26 Q1 3.0%
FY26 Q2 2.8%
FY26 Q3 3.2%

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

Where the money goes

FY2025, from the 10-K

Each dollar Brightspring Health Services took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $12.9B
  2. Cost of revenue $11.4B · 88.2%
  3. Gross profit $1.5B · 11.8%
  4. Selling, general and admin $1.2B · 9.5%
  5. Operating income $295M · 2.3%
  6. Interest and other $71.4M · 0.6%
  7. Net income $191M · 1.5%

Shares of revenue. Source: Brightspring Health Services's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 7.7 7.7 10.1 12.9 15.3
Gross profit 1.4 1.1 1.3 1.5 1.9
EBITDA 0.4 0.3 0.3 0.5 0.7
Operating income 0.2 0.1 0.1 0.3 0.5
Net income −0.1 −0.2 −0.0 0.2 0.4
Diluted EPS −$0.46 −$1.31 −$0.09 $0.87 $1.84
Growth (year on year)
Revenue — −0.4% +31.0% +28.2% +35.9%
EBITDA — −33.5% +20.0% +47.1% +60.7%
Operating income — −69.1% — — +114.5%
Margins
Gross margin 17.5% 14.8% 12.6% 11.8% 12.5%
EBITDA margin 5.1% 3.4% 3.1% 3.6% 4.5%
Operating margin 2.4% 0.8% 1.1% 2.3% 3.4%
Net margin −0.7% −2.0% −0.2% 1.5% 2.7%
Free-cash-flow margin −1.0% 1.8% −0.6% 3.1% 3.2%
Cash flow
Cash from operations −0.0 0.2 0.0 0.5 0.6
Capital spending 0.1 0.1 0.1 0.1 0.1
Free cash flow −0.1 0.1 −0.1 0.4 0.5
Stock-based pay 0.0 0.0 0.1 0.1 0.1
Free cash flow after stock pay −0.1 0.1 −0.1 0.3 0.4
Balance sheet
Cash — 0.0 0.1 0.1 0.7
Total debt — 3.4 2.7 2.6 2.2
Net debt (negative = net cash) — 3.4 2.6 2.5 1.5
Diluted shares 118m 118m 193m 220m 223m
Returned to shareholders
Buybacks — 0.0 0.0 0.0 —
Total returned — 0.0 0.0 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

3 of 6 checks passed · September 30, 2026
What it owns · $6.3bn
Short-term assets $2.8bnLonger-term assets $3.5bn
What it owes, and who funded it · $6.3bn
Short-term liabilities $1.7bnLonger-term liabilities $2.4bnShareholders' equity $2.2bn
  • Short-term assets cover short-term liabilities $2.8bn of assets due within a year against $1.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.8bn short-term assets against $2.4bn of longer-dated liabilities.
  • More cash than debt $718m of cash against $2.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 100% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $603m of operating cash flow against $2.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $520m against $145m of interest.

From Brightspring Health Services, Inc.'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
$44.5M
Diluted share count
+6.4%
year over year
Sales & admin spending
9.1%
of revenue
Days sales outstanding
29 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care services
Last 12 months unless stated BTSG LH DVA DGX AGL OPCH Median
Revenue, last 12 months $15.3bn $14.6bn $14.2bn $11.8bn $5.9bn $5.7bn $1.2bn
Revenue growth, last 12 months 35.9% 6.0% 6.4% 9.1% 0.3% 5.9% 7.3%
Revenue growth, 3-year average — 6.6% 6.0% 8.4% 22.9% 11.3% 11.3%
Revenue growth, latest quarter 26.4% 6.9% 4.6% 10.0% 7.2% 1.9% 8.5%
Gross margin 12.5% 29.0% — 33.1% — 19.1% 27.9%
Operating margin 3.4% 10.3% 15.0% 14.6% −5.2% 5.9% 2.3%
Operating margin, 3-year average 2.0% 8.6% 15.2% 13.9% −5.5% 6.3% 2.3%
Net margin 2.7% 6.9% 6.5% 9.5% −3.9% 3.7% 1.2%
Cash from operations / revenue 4.0% 12.4% 13.2% 16.5% −1.2% 6.1% 6.1%
Free-cash-flow margin 3.2% 8.8% 9.1% 11.6% −1.4% 5.3% 5.1%
Free-cash-flow margin, 3-year average 1.9% 8.5% 10.0% 11.7% −1.9% 4.7% 3.6%
Stock pay / revenue 0.4% 0.9% 0.9% 0.7% 0.8% 0.7% 1.1%
Change in share count 6.4% −1.9% −14.1% −1.1% 1.8% −5.7% 0.3%

Median of all 41 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.

Peer comparison

41 health care services companies
Measure Company Peer median Rank
Revenue growth Growth 35.9% 7.3% 7 of 41
Change in growth rate Growth +2.8pp +1.1pp 15 of 41
Gross margin Profitability 12.5% 29.0% 24 of 27
Operating margin Profitability 3.4% 2.6% 18 of 40
Net margin Profitability 2.7% 1.2% 18 of 41
Free-cash-flow margin Cash generation 3.2% 5.1% 21 of 40
Stock pay as % of revenue Cash generation 0.4% 0.9% 4 of 35
Long-term debt as % of assets Balance sheet 34.3% 27.7% 23 of 31
Change in share count Balance sheet 6.4% 0.4% 32 of 39
Days sales outstanding Balance sheet 29 days 39 days 5 of 31

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Pharmacy Solutions $11.4B 88.7% ▲ 30.7%
Provider Services $1.5B 11.3% ▲ 11.1%
Products and services
Line of business Revenue YoY
Products $11.4B ▲ 30.7%
Medicare D $4.1B ▲ 28.0%
Commercial Insurance $3.3B ▲ 30.7%
Medicare C $2.4B ▲ 44.9%
Medicaid $1.5B ▲ 28.2%
Services $1.5B ▲ 11.1%
Medicare A $1.1B ▲ 9.5%
Private and Other $424M ▲ 2.2%
Medicare B $82.8M ▼ 13.7%

These categories overlap or exclude eliminations, so shares aren't shown.

From Brightspring Health Services, Inc.'s 10-K filed February 27, 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
$14.4B
Institutions reporting
417
Shares held vs prior quarter
▼ 0.8%
Positions opened / closed
114 / 39

Top buyers and sellers, Q2 2026: 297 institutions bought and 123 sold ; the biggest buyer was Blackrock, Inc (+4.4M shares) and the biggest seller Kohlberg Kravis Roberts & Co. L.P (−15.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Kohlberg Kravis Roberts & Co. L.P. $1.9B 26.8M 13.0% ▼ 35.9%
Blackrock, Inc. $1.7B 24.0M 11.7% ▲ 22.6%
FMR LLC $934M 13.4M 6.5% ▼ 36.2%
Invesco Ltd. $833M 11.9M 5.8% ▲ 4.0%
Vanguard Portfolio Management LLC $694M 9.9M 4.8% ▲ 23.8%
Price T Rowe Associates Inc $690M 9.9M 4.8% ▼ 7.3%
Vanguard Capital Management LLC $510M 7.3M 3.5% ▲ 16.2%
State Street Corp $437M 6.3M 3.0% ▲ 26.9%
T. Rowe Price Investment Management, Inc. $421M 6.0M 2.9% ▼ 20.8%
Geode Capital Management, LLC $376M 5.2M 2.6% ▲ 45.4%
Manufacturers Life Insurance Company, The $239M 3.4M 1.7% ▼ 19.4%
Fuller & Thaler Asset Management, Inc. $234M 3.4M 1.6% ▲ 3.4%

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 Brightspring Health Services, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.7B 9 trades by 6 insiders · 0% under pre-set plans
Net ▼ $1.7B net selling
Insider Date Trade Shares Price Value
Greenwell Scott A. President, PharMerica September 14, 2026 Sell pre-set plan 15,099 $57.91 $874,383
Phipps Jennifer A Chief Financial Officer June 5, 2026 Sell 35,000 $58.75 $2.1M
Nalley Lisa A See Remarks June 5, 2026 Sell 35,000 $58.75 $2.1M
Rousseau Jon B See Remarks June 5, 2026 Sell 130,000 $58.75 $7.6M
Kkr Associates Americas Xii L.P. 10% owner June 5, 2026 Sell 14,669,771 $58.45 $857M
Kkr Phoenix Aggregator Gp Llc 10% owner March 4, 2026 Sell 19,715,000 $40.96 $808M
Phipps Jennifer A Chief Financial Officer March 4, 2026 Sell 35,000 $41.15 $1.4M
Rousseau Jon B See Remarks March 4, 2026 Sell 220,000 $41.15 $9.1M
Nalley Lisa A See Remarks March 4, 2026 Sell 30,000 $41.15 $1.2M

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.

Earnings dates and SEC filings

Results announcements

Next expected around January 25, 2027 estimated from the company's past filing pattern, not announced

  • October 30, 2026
  • July 31, 2026
  • May 1, 2026
  • February 27, 2026
  • October 28, 2025
  • October 20, 2025

Recent SEC filings

Data status

When each part of this page on Brightspring Health Services, Inc. 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.

Brightspring Health Services, Inc. in brief

What does Brightspring Health Services, Inc. do?
Brightspring Health Services, Inc. is a US-listed company in the health care services industry. Its financial year ends in December.
What is Brightspring Health Services, Inc.'s stock ticker?
Brightspring Health Services, Inc. trades under the ticker BTSG on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Brightspring Health Services, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Brightspring Health Services, Inc. reported revenue of $15.3B, 35.9% higher than a year earlier, according to its SEC filings.
What is Brightspring Health Services, Inc.'s free cash flow?
Brightspring Health Services, Inc.'s free-cash-flow margin is 3.2% of revenue over the trailing twelve months, ranking 21 of the 40 health care services companies we cover.
What is Brightspring Health Services, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Brightspring Health Services, Inc.'s free cash flow after stock-based pay gives ~$80 per share in the base case, and ~$59–$110 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Brightspring Health Services, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Kohlberg Kravis Roberts & Co. L.P., Blackrock, Inc. and FMR LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Brightspring Health Services, Inc.'s market cap?
On November 2, 2026, Brightspring Health Services, Inc.'s market capitalisation was about $14.8B, with a price-to-earnings ratio of 36.0 and net debt of $1.5B. Market figures come from third-party market data and may be delayed.
How much debt does Brightspring Health Services, Inc. have?
Brightspring Health Services, Inc.'s debt-to-equity ratio is 100.3%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Brightspring Health Services, Inc.'s competitors?
In our Health Care Services peer group, the companies closest to Brightspring Health Services, Inc. are Labcorp, DaVita, Quest Diagnostics, Agilon Health, Inc. and Option Care Health, Inc. The side-by-side comparison below sets their revenue, margins and growth against Brightspring Health Services, Inc.'s.
Are insiders buying or selling Brightspring Health Services, Inc. stock?
Over the last 12 months, Brightspring Health Services, Inc.'s directors and officers reported 0 open-market purchases and 9 sales on Form 4. The insider trading page charts every trade.
When is Brightspring Health Services, Inc.'s next earnings date?
Around January 25, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Brightspring Health Services, Inc. announces its own schedule.