Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $345M | $530M | $1.06B | $2.45B | $2.97B | $3.20B | $3.26B | $3.24B |
| Revenue growth | — | — | 53.4% | 99.5% | 132.4% | 21.0% | 7.7% | 1.9% | -0.5% |
| Operating income | — | $31.1M | $29.4M | $71.3M | $226M | $190M | -$598M | $264M | $90.9M |
| Operating margin | — | 9.0% | 5.5% | 6.8% | 9.2% | 6.4% | -18.7% | 8.1% | 2.8% |
| Net income | — | $23.3M | -$21.3M | -$162M | $156M | $69.3M | -$679M | $90.4M | -$70.8M |
| Net margin | — | 6.7% | -4.0% | -15.3% | 6.4% | 2.3% | -21.2% | 2.8% | -2.2% |
| EPS (diluted) | — | $1.95 | -$0.95 | -$3.08 | $0.67 | $0.33 | -$5.31 | $0.61 | -$0.52 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | $68.4M | $60.4M | $196M | $276M | $374M | $481M | $542M | $602M |
| Capital expenditures | — | $9.95M | $21.3M | $39.8M | $203M | $391M | $337M | $306M | $382M |
| Free cash flow | — | $58.5M | $39.1M | $156M | $72.4M | -$17.6M | $143M | $236M | $219M |
| Share buybacks | — | — | $20.0M | $0.00 | $0.00 | $14.0M | $29.3M | $0.00 | $0.00 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.27M | $25.2M | $76.9M | $100.0M | $150M | $46.3M | $77.1M | $110M | $106M |
| Total assets | $311K | $369M | $547M | $1.81B | $5.25B | $5.22B | $4.51B | $4.49B | $4.32B |
| Total liabilities | $286K | $266M | $585M | $1.53B | $3.18B | $3.06B | $3.04B | $2.91B | $2.79B |
| Long-term debt | — | $127M | $395M | $777M | $2.18B | $2.15B | $2.09B | $1.96B | $1.72B |
| Shareholders' equity | $0.00 | $5.00M | -$23.4M | $355M | $2.06B | $2.15B | $1.46B | $1.57B | $1.52B |
| Retained earnings | -$693.00 | -$13.4M | -$29.3M | -$199M | -$43.0M | $26.3M | -$653M | -$562M | -$633M |
| Shares (wtd avg diluted) | 7.19M | 7.20M | 22.6M | 52.5M | 133M | 139M | 134M | 136M | 135M |
Every figure is extracted from AdaptHealth Corp.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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