AdaptHealth Corp. (AHCO)
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
$6.49+1.09%
Close 2026-09-04 · 1-day change
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
QuarterlyIQ Insights · AHCO
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Divest non-core Diabetes Health business to sharpen strategic focus and redeploy capital.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 51% of the time over the next year (vs 41% for the rest of the cohort, n=13363).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Drive organic revenue growth across all reportable segments and expand strategic partnerships and contracts.
Stated as a priority in 4 of last 4 quarters. Revenue grew from $657.1 million in 2025-Q2 to $740.3 million in 2026-Q2, with organic growth of 15.9% reported in 2026-Q2. Management consistently emphasized broad-based organic growth and strategic expansion, delivering substantive revenue growth and volume gains across segments.
“Delivered 15.9% organic growth with record volume gains across the business.”
“Completed largest de novo expansion in home medical equipment industry with broad-based organic growth across segments.”
“Set patient census records for Sleep Health, Respiratory Health, and Wellness at Home.”
“Reported organic revenue growth of 1.7% for full year 2025.”
Focus on generating strong cash flow from operations and meeting free cash flow guidance targets.
Stated as a priority in 4 of last 4 quarters. Cash flow from operations was $239 million year-to-date 2026, down from $257.5 million in the comparable 2025 period. Free cash flow guidance for 2026 was revised downward to $80 million to $120 million from prior higher targets. Management continues to focus on cash flow generation but the trajectory shows mixed results with some decline in operating cash flow and lowered free cash flow guidance.
“Cash flow from operations was $239 million year-to-date 2026; free cash flow guidance revised to $80 million to $120 million.”
“Cash flow from operations was $93.7 million; free cash flow was negative $27.5 million.”
“Cash flow from operations was $183.2 million; free cash flow was $79.3 million.”
“Full-year 2025 cash flow from operations was $601.8 million; free cash flow was $219.4 million.”
Refinance credit facilities, reduce debt, and improve financial flexibility and credit profile.
Stated as a priority in 3 of last 3 quarters. Management completed a $1.1 billion refinancing in 2026-Q1, reducing cost of debt and extending maturity, and redeemed $325 million senior notes in 2026-Q2. Debt was reduced by $25 million in 2025-Q4, totaling $250 million for the full year. The trajectory shows delivering on balance sheet strengthening and debt reduction.
“Redeemed 6.125% Senior Notes due 2028 with proceeds from $325 million delayed draw term loan.”
“Completed $1.1 billion refinancing of senior secured credit facility, reducing cost of debt and extending maturity.”
“Reduced debt by $25 million, bringing full year 2025 debt reduction to $250 million.”
Focus on improving operating income and adjusted EBITDA margins despite cost pressures and goodwill impairments.
Stated as a priority in 3 of last 3 quarters. Operating income declined sharply from $65.7 million in 2025-Q2 to a loss of $137.8 million in 2026-Q2, impacted by goodwill impairment and contract complexities. Adjusted EBITDA decreased modestly by 3.2% over the same period. Management acknowledges margin pressures and is taking actions to improve efficiency, indicating limited progress so far.
“Margins impacted by West Coast capitated contract complexity and manufacturer price increases; addressing cost pressures.”
“Elevated labor costs due to transition; working to optimize business for scale.”
“Adjusted EBITDA decreased 18.7% in Q4 2025; underlying earnings power remains intact.”
Over the trailing year it converted -1.41x of net income into operating cash flow.
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
14 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Health Care names rated neutral grew net income 53% of the time over the next year (vs 49% for the rest of the cohort, n=5275).
Not investment advice. As of 2026-09-04.