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Nasdaq · Healthcare

AdaptHealth Corp. (AHCO)

As-reported financials and SEC filings for AdaptHealth Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About AdaptHealth Corp.

AdaptHealth Corp. provides healthcare-at-home solutions including home medical equipment, medical supplies, and related services across four segments: Sleep Health, Respiratory Health, Diabetes Health, and Wellness at Home. The company serves patients with conditions such as obstructive sleep apnea, respiratory diseases, diabetes, and those adjusting to new lifestyles after hospital discharge. AdaptHealth operates nationwide in the United States, servicing approximately 4.3 million patients annually through a network of about 640 locations.

Snapshot

Revenue
$3.24B
Revenue growth (YoY)
-0.5%
Net income
$-70.8M
Diluted EPS
$-0.52
Gross margin
18.8%
Operating margin
2.8%
Net margin
-2.2%
FCF margin
6.8%
ROE
-4.6%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$773.8M
Long-term debt / equity
1.12×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at AdaptHealth

  • Revenue fell 0.5% to $3.2B in FY2025, slower than the 1.9% the year before.
  • Operating margin is 2.8% in FY2025, -6.4 pp against 9.2% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $740M, up 12.7% from Q2 FY2025.
  • Free cash flow was $219M in FY2025, 6.8% of revenue.
  • Net income turned to a $71M loss in FY2025, from a $90M profit in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where AdaptHealth’s fundamentals sit among the 558 Healthcare companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin18.8%
5th percentile of 282
Operating margin2.8%
55th percentile of 399
Net margin-2.2%
50th percentile of 418
FCF margin6.8%
60th percentile of 372
Revenue growth (YoY)-0.5%
26th percentile of 538
ROE-4.6%
58th percentile of 473
Long-term debt / equity1.12×
80th percentile of 243
Short interest1.13d
12th percentile of 557

AdaptHealth’s gross margin of 18.8% ranks in the 5th percentile of the 282 Healthcare companies reporting it.

3 reported insider purchases (code P) totaling $394,530 in the last 90 days, against 1 sale totaling $117,711. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 6 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+6 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
2
2 trimmed, 0 exited
Combined position
$29.1M
reported long value
InvestorAs ofPosition valueSharesChange
Renaissance TechnologiesquantQ2 2026$8.0M764.3KAdded
AQR Capital ManagementquantQ2 2026$7.9M761.9KReduced
Citadel AdvisorsquantQ2 2026$5.1M484.7KAdded
D. E. ShawquantQ2 2026$4.2M407.6KAdded
Millennium ManagementquantQ2 2026$3.6M347.9KReduced
Two Sigma InvestmentsquantQ2 2026$285,51827.4KAdded

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
3
2 insiders
Bought (90d)
$395K
code P value
Sells (90d)
1
$118K
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-08-07
filed 2026-08-10
WOLF DALE BDirectorBuy20.0K$5.86$117K
2026-08-06
filed 2026-08-10
SAMET KENNETH ADirectorBuy23.5K$6.38$150K
2026-08-06
filed 2026-08-10
WOLF DALE BDirectorBuy20.0K$6.37$127K
2026-07-01
filed 2026-07-06
Schuster III Russell E.Chief Commercial OfficerSell11.3K$10.44$118K
2026-06-01
filed 2026-06-03
Schuster III Russell E.Chief Commercial OfficerSell11.3K$10.06$113K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
7.6M
settled 2026-08-14
Change vs prior
-5.7%
vs previous settlement
Days to cover
1.13
at avg daily volume
Avg daily volume
6.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-147.6M-5.7%1.13
2026-07-318.1M+0.7%8.19
2026-07-158.0M-0.6%7.42
2026-06-308.1M+8.3%3.74
2026-06-157.4M-1.2%6.37
2026-05-297.5M+4.9%6.94
2026-05-157.2M-9.9%3.80
2026-04-308.0M-0.6%6.48

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$3.24B$3.26B$3.20B$2.97B$2.45B
Gross profit$609.2M$681.1M$624.1M$580.1M$445.6M
Operating income$90.9M$263.7M$-598.4M$190.4M$225.6M
Net income$-70.8M$90.4M$-678.9M$69.3M$156.2M
Diluted EPS$-0.52$0.61$-5.31$0.33$0.67

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$601.8M$541.8M$480.7M$373.9M$275.7M
Capital expenditure$382.4M$306.1M$337.5M$391.4M$203.3M
Free cash flow$219.4M$235.8M$143.2M$-17.6M$72.4M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$740.3M12.7%$-133.9M$-0.99
Q1 FY2026$819.8M5.4%$-16.0M$-0.12
Q4 FY2025$846.3M-1.2%$-102.8M$-0.79
Q3 FY2025$820.3M1.8%$24.5M$0.16
Q2 FY2025$657.1M-18.5%$14.7M$0.10
Q1 FY2025$777.9M-1.8%$-7.2M$-0.05
Q4 FY2024$856.6M-0.2%$50.3M$0.37
Q3 FY2024$805.9M0.2%$22.9M$0.15

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryServices-Home Health Care Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK1725255

Selected SEC filings

10-K2026-02-24
View on EDGAR →
10-Q2026-08-04
View on EDGAR →
10-Q2026-05-05
View on EDGAR →
8-K2026-08-04
View on EDGAR →
8-K2026-07-20
View on EDGAR →
8-K2026-07-07
View on EDGAR →
8-K2026-07-02
View on EDGAR →

Largest Healthcare peers

All Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.