AdaptHealth Corp. (AHCO)

From the record

AdaptHealth Corp.'s filings since 2017 show 5 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2019-12-03); a warning not to rely on past financial statements (8-K item 4.02, 2 times, the latest 2021-04-30); an auditor change (8-K item 4.01, the latest 2019-11-14); a material cybersecurity incident (8-K item 1.05, the latest 2026-07-02) (its current reports).

From the record

AdaptHealth Corp.'s 8 filed years say what it did: revenue went from $345 million in fiscal 2018 to $3.2 billion in fiscal 2025, up 37.7% a year; it rose in 6 of 7 years; the deepest fall was 0% from fiscal 2024 to fiscal 2025; net income was positive in 4 of 8 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, AdaptHealth Corp.'s diluted share count shrank about 0.9% a year, and dividends and buybacks returned about 2% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 3 sales (2 under scheduled 10b5-1 plans) and 6 purchases of their own stock on the open market in the year to 2026-09-30, buying about $637 thousand (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, AdaptHealth Corp. lost about 5 cents for every dollar of shareholders' money, and gross profitability: its products earned about 14 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 65 cents per dollar of assets, and net share issuance: its share count shrank 0.3% over the year (the filed statements).

From the record

AdaptHealth Corp.'s standing among 22 graded names in its industry family: revenue of $3.2 billion in fiscal 2025 ranks in the bottom 43% by size; a net margin of -2.2% ranks in the bottom 20%; revenue growth of 3% a year over the last 3 filed years ranks in the bottom 16% (its annual reports).

From the record

AdaptHealth Corp.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Foster, Suzanne (Chief Executive Officer, as filed), filing under that title since 2024-05-20, 2.5 years (bottom 29% of its family); the 17 officers and directors filing in the last fifteen months have been on the record a median of 5.1 years (bottom 25%); 14 officer or director changes were reported on Form 8-K since 2023-11-13, against the 17 people in charge now (bottom 7%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

AdaptHealth Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $106 million against debt of $1.7 billion leaves -37.8% of its assets as net cash, bottom 40% of its family; cash from operations less capital spending is 6.8% of revenue (bottom 43%); a gross margin of 18.8% (bottom 25%) (its annual report).

From the record

AdaptHealth Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew 3% a year over the last three filed years against 37.7% over all 8, slowing (bottom 2% of its family); the newest year grew -0.5% (bottom 11%); capital spending grew -0.8% a year (bottom 24%) (its annual reports). AdaptHealth Corp. reported 4 lines of business in fiscal 2025: Sleep Health at $1.4 billion (43%), Respiratory Health at $691 million (21%), Diabetes Health at $592 million (18%), and 1 more; 2 of 4 grew against the year before (its annual report).

From the record

AdaptHealth Corp.'s newest year against its own record: revenue of $3.2 billion in fiscal 2025 came in 5% below the $3.4 billion its prior three years' pace pointed to (bottom 7% of its family); net income of $71 million against a prior three-year average of $173 million (top 34%); a net margin of -2.2% against -5.4% before (top 16%) (its annual reports).