Option Care Health, Inc. (OPCH) 10-Year Financial Performance & Capital Metrics

OPCH • • Industrial / General

HealthcareHealthcare FacilitiesHome Health & Hospice CareHome Infusion Services

AboutOption Care Health, Inc. offers home and alternate site infusion services in the United States. The company provides anti-infective therapies; home infusion services to treat heart failures; home parenteral nutrition and enteral nutrition support services for numerous acute and chronic conditions, such as stroke, cancer, and gastrointestinal diseases; immunoglobulin infusion therapies for the treatment of immune deficiencies; and treatments for chronic inflammatory disorders, including Crohn's disease, plaque psoriasis, psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, and other chronic inflammatory disorders. It also offers treatments to manage the progression of neurological disorders, such as amyotrophic lateral sclerosis and duchenne muscular dystrophy; infusion therapies for bleeding disorders; therapies that women need to survive and thrive through high-risk pregnancies; and other infusion therapies to treat various conditions, including pain management, chemotherapy, and respiratory medications, as well as nursing services. Option Care Health, Inc. is headquartered in Bannockburn, Illinois.Show more

Revenue $5B +16.2%
EBITDA $385M +2.3%
Net Income $212M -20.7%
EPS (Diluted) 1.23 -16.9%
Gross Margin 20.27% -11.1%
EBITDA Margin 7.71% -12.0%
Operating Margin 6.44% -11.9%
Net Margin 4.24% -31.7%
ROE 14.99% -21.2%
ROIC 10.84% +3.2%
Debt/Equity 0.87 +5.7%
Interest Coverage 5.31 +5.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 16.7%
✓Good 3Y average ROE of 15.3%
✓Share count reduced 4.2% through buybacks
✓Trading near 52-week high
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.41%

5Y16.69%

3Y13.28%

TTM15.79%

Profit (Net Income) CAGR

10Y-

5Y-

3Y14.83%

TTM0.17%

EPS CAGR

10Y-

5Y-

3Y16.9%

TTM5.88%

ROCE

10Y Avg-2.23%

5Y Avg9.17%

3Y Avg11.03%

Latest12.03%

Peer Comparison

Home Infusion Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OPCHOption Care Health, Inc.	5.73B	36.11	29.36	16.17%	3.78%	15.4%	5.02%	0.87

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	982.22M	935.59M	817.19M	1.94B	2.31B	3.03B	3.44B	3.94B	4.3B	5B
Revenue Growth %	0.06%	-0.05%	-0.13%	1.37%	0.19%	0.31%	0.13%	0.15%	0.09%	0.16%
Cost of Goods Sold+	722.27M	673.51M	547.95M	1.52B	1.8B	2.35B	2.66B	3.08B	3.32B	3.99B
COGS % of Revenue	0.74%	0.72%	0.67%	0.78%	0.78%	0.78%	0.77%	0.78%	0.77%	0.8%
Gross Profit+	259.95M	262.08M	269.24M	422.21M	513M	682.26M	779.61M	866.92M	981.22M	1.01B
Gross Margin %	0.26%	0.28%	0.33%	0.22%	0.22%	0.22%	0.23%	0.22%	0.23%	0.2%
Gross Profit Growth %	0.04%	0.01%	0.03%	0.57%	0.22%	0.33%	0.14%	0.11%	0.13%	0.03%
Operating Expenses+	547.6M	298.25M	332.55M	383.95M	513.32M	571.51M	588.76M	626.69M	666.63M	691.16M
OpEx % of Revenue	0.56%	0.32%	0.41%	0.2%	0.22%	0.19%	0.17%	0.16%	0.15%	0.14%
Selling, General & Admin	42.47M	38.8M	39.63M	345.88M	459.63M	500.2M	525.71M	566.12M	607.43M	630.25M
SG&A % of Revenue	0.04%	0.04%	0.05%	0.18%	0.2%	0.16%	0.15%	0.14%	0.14%	0.13%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	505.13M	259.46M	292.92M	38.06M	53.69M	71.31M	63.06M	60.56M	59.2M	60.91M
Operating Income+	-287.65M	-36.17M	-63.3M	38.27M	-319K	110.75M	190.84M	240.23M	314.6M	321.83M
Operating Margin %	-0.29%	-0.04%	-0.08%	0.02%	-0%	0.04%	0.06%	0.06%	0.07%	0.06%
Operating Income Growth %	-25.08%	0.87%	-0.75%	1.6%	-1.01%	348.19%	0.72%	0.26%	0.31%	0.02%
EBITDA+	-264.78M	-14.15M	-35.58M	79.32M	57.55M	188.65M	259.64M	305.67M	376.8M	385.33M
EBITDA Margin %	-0.27%	-0.02%	-0.04%	0.04%	0.02%	0.06%	0.08%	0.08%	0.09%	0.08%
EBITDA Growth %	-8.59%	0.95%	-1.51%	3.23%	-0.27%	2.28%	0.38%	0.18%	0.23%	0.02%
D&A (Non-Cash Add-back)	22.86M	22.02M	27.73M	41.05M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M
EBIT	-289.41M	31.48M	38.62M	37.06M	-4.47M	102.53M	183.5M	259.57M	409.99M	332.63M
Net Interest Income+	-37.31M	-37.57M	-52.07M	-46.12M	-73.39M	-91.19M	-55.46M	-54.9M	-62.22M	-60.56M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	37.31M	37.57M	52.07M	46.12M	73.39M	91.19M	55.46M	54.9M	62.22M	60.56M
Other Income/Expense	-38.7M	2.02M	-4.13M	-47.04M	-77.88M	-116M	-74.35M	-34.46M	44.15M	-38.23M
Pretax Income+	-326.35M	-34.16M	-67.43M	-8.77M	-78.19M	-5.24M	116.49M	205.77M	358.74M	283.6M
Pretax Margin %	-0.33%	-0.04%	-0.08%	-0%	-0.03%	-0%	0.03%	0.05%	0.08%	0.06%
Income Tax+	-21.53M	2.02M	-4.13M	-2.65M	-2.27M	2.83M	-23.4M	55.21M	91.65M	71.78M
Effective Tax Rate %	0.92%	1.25%	0.95%	0.7%	0.97%	1.54%	1.2%	0.73%	0.74%	0.75%
Net Income+	-300.13M	-42.77M	-64.2M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M
Net Margin %	-0.31%	-0.05%	-0.08%	-0%	-0.03%	-0%	0.04%	0.04%	0.06%	0.04%
Net Income Growth %	-1.04%	0.86%	-0.5%	0.9%	-11.42%	0.89%	18.32%	0.08%	0.77%	-0.21%
Net Income (Continuing)	-304.82M	-36.17M	-63.3M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M
Discontinued Operations	4.69M	-6.59M	-893K	-101K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-17.45	-1.77	-2.02	-1.62	-0.49	-0.04	0.77	0.83	1.48	1.23
EPS Growth %	-1.03%	0.9%	-0.14%	0.2%	0.7%	0.91%	18.26%	0.08%	0.78%	-0.17%
EPS (Basic)	-17.45	-1.77	-2.02	-1.62	-0.49	-0.04	0.78	0.83	1.49	1.23
Diluted Shares Outstanding	17.18M	23.43M	30.95M	31.99M	156.28M	180.97M	181.21M	182.07M	180.38M	172.84M
Basic Shares Outstanding	17.18M	23.43M	30.95M	31.99M	156.28M	180.97M	179.85M	181.1M	178.97M	171.57M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	186.97M	176.05M	189.32M	174.71M	558.65M	657.01M	710.26M	994.34M	1.09B	1.32B
Cash & Short-Term Investments	15.58M	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M
Cash Only	15.58M	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	97.35M	109.09M	85.52M	114.86M	324.42M	330.74M	338.24M	383.14M	430.16M	409.73M
Days Sales Outstanding	36.18	42.56	38.2	21.61	51.25	39.81	35.9	35.45	36.49	29.92
Inventory	42.98M	36.16M	37.27M	26.69M	115.88M	158.6M	183.09M	224.28M	274M	388.13M
Days Inventory Outstanding	21.72	19.6	24.83	6.42	23.53	24.63	25.13	26.6	30.11	35.55
Other Current Assets	0	18.51M	4.95M	4.32M	13.9M	68.41M	69.5M	92.73M	46.24M	112.2M
Total Non-Current Assets+	359.53M	431.69M	416.56M	409.23M	2.03B	2.12B	2.22B	2.24B	2.23B	2.1B
Property, Plant & Equipment	31.94M	32.53M	27.57M	28.79M	133.2M	189.94M	186.31M	180.75M	204.79M	213.9M
Fixed Asset Turnover	30.75x	28.76x	29.64x	67.38x	17.35x	15.97x	18.46x	21.82x	21.01x	23.37x
Goodwill	308.73M	365.95M	367.2M	367.2M	1.43B	1.43B	1.48B	1.53B	1.54B	1.54B
Intangible Assets	5.13M	31.04M	19.5M	10.47M	385.91M	351.05M	366.02M	364.12M	335.4M	16.99M
Long-Term Investments	0	0	0	14.6M	-2.14M	17M	20.1M	36.74M	31.08M	31.18M
Other Non-Current Assets	13.74M	2.16M	2.29M	-12.86M	86.24M	3.82M	3.63M	3.57M	11.27M	296.8M
Total Assets+	546.5M	607.74M	605.88M	583.94M	2.59B	2.77B	2.93B	3.23B	3.33B	3.42B
Asset Turnover	1.80x	1.54x	1.35x	3.32x	0.89x	1.09x	1.18x	1.22x	1.29x	1.46x
Asset Growth %	-0.34%	0.11%	-0%	-0.04%	3.43%	0.07%	0.06%	0.1%	0.03%	0.03%
Total Current Liabilities+	156.05M	130.35M	105.47M	107.32M	330M	434.02M	459.69M	565.35M	618.31M	780.15M
Accounts Payable	65.08M	64.42M	65.96M	67.03M	221.06M	282.91M	279.25M	378.76M	426.51M	610.78M
Days Payables Outstanding	32.89	34.91	43.94	16.12	44.89	43.94	38.33	44.92	46.88	55.94
Short-Term Debt	24.38M	18.52M	1.72M	3.18M	29.64M	28.14M	25.09M	25.38M	24.28M	6.51M
Deferred Revenue (Current)	0	0	1000K	0	1000K	0	0	0	0	0
Other Current Liabilities	6.78M	0	0	0	23.23M	64.08M	71.86M	84.3M	75.01M	140.81M
Current Ratio	1.20x	1.35x	1.79x	1.63x	1.69x	1.51x	1.55x	1.76x	1.77x	1.70x
Quick Ratio	0.92x	1.07x	1.44x	1.38x	1.34x	1.15x	1.15x	1.36x	1.33x	1.20x
Cash Conversion Cycle	25.01	27.25	19.09	11.91	29.89	20.5	22.7	17.13	19.73	9.53
Total Non-Current Liabilities+	471.33M	508.95M	581.51M	620.63M	1.35B	1.32B	1.29B	1.28B	1.29B	1.24B
Long-Term Debt	406.32M	433.41M	478.87M	501.5M	1.28B	1.12B	1.06B	1.06B	1.06B	1.1B
Capital Lease Obligations	-62.92M	494K	0	0	58.24M	70.78M	74.49M	71.44M	85.48M	84.78M
Deferred Tax Liabilities	236K	2.28M	0	67.84M	2.14M	128.56M	134.72M	141.6M	146.24M	47.58M
Other Non-Current Liabilities	-61.06M	1.26M	102.65M	119.13M	17.23M	8.47M	20.94M	9.68M	0	366K
Total Liabilities	627.38M	639.3M	686.99M	727.94M	1.68B	1.76B	1.75B	1.85B	1.91B	2.02B
Total Debt+	433.98M	451.93M	480.59M	504.67M	1.39B	1.21B	1.16B	1.16B	1.17B	1.22B
Net Debt	418.41M	442.37M	441.13M	490.13M	1.32B	1.11B	1.04B	860.84M	822.56M	805.41M
Debt / Equity	-	-	-	-	1.53x	1.20x	0.99x	0.83x	0.82x	0.87x
Debt / EBITDA	-	-	-	6.36x	24.08x	6.44x	4.47x	3.78x	3.10x	3.16x
Net Debt / EBITDA	-	-	-	6.18x	22.91x	5.91x	4.01x	2.82x	2.18x	2.09x
Interest Coverage	-7.71x	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x
Total Equity+	-80.88M	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B
Equity Growth %	-1.37%	0.61%	-1.57%	-0.78%	7.3%	0.12%	0.16%	0.18%	0.03%	-0.01%
Book Value per Share	-4.71	-1.35	-2.62	-4.50	5.80	5.61	6.49	7.61	7.88	8.12
Total Shareholders' Equity	-80.88M	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B
Common Stock	8K	12K	13K	13K	18K	18K	18K	18K	18K	18K
Retained Earnings	-601.91M	-643.42M	-706.02M	-761.2M	-91.95M	-100.03M	39.87M	190.42M	457.51M	669.34M
Treasury Stock	-10.74M	0	0	-950K	-2.4M	-2.4M	-2.4M	-2.4M	-255.11M	-507.6M
Accumulated OCI	-62.03M	-75.09M	-88.3M	1M	-7.2M	-11.17M	-451K	21.16M	14.98M	11.05M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-64.74M	-35.2M	-1.05M	-20.1M	39.47M	127.39M	208.57M	267.55M	371.3M	323.39M
Operating CF Margin %	-0.07%	-0.04%	-0%	-0.01%	0.02%	0.04%	0.06%	0.07%	0.09%	0.06%
Operating CF Growth %	-1.06%	0.46%	0.97%	-18.11%	2.96%	2.23%	0.64%	0.28%	0.39%	-0.13%
Net Income	-303.43M	-34.37M	-61.28M	-51.59M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M
Depreciation & Amortization	22.74M	21.55M	26.31M	23.6M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M
Stock-Based Compensation	4.51M	1.96M	2.36M	4.17M	4.17M	2.92M	9.57M	16.78M	30.48M	36.14M
Deferred Taxes	-20.09M	2.04M	-3.15M	66K	-4.61M	1.2M	-30.37M	49.19M	12.77M	12.66M
Other Non-Cash Items	252.81M	-14.96M	17.01M	20.35M	19.38M	46.33M	32.03M	15.36M	20.2M	19.52M
Working Capital Changes	-21.29M	-11.44M	17.71M	-16.71M	38.58M	7.13M	-11.37M	-29.78M	-21.45M	-20.25M
Change in Receivables	16.45M	-2.5M	23.56M	-29.34M	82.28M	-3.92M	-4.27M	-36.89M	224K	-32.08M
Change in Inventory	-5.77M	10.02M	-1.77M	11.36M	-12.85M	-42.73M	-22.7M	-41.01M	-51M	-114.13M
Change in Payables	-24.13M	-20.52M	-2.54M	1.06M	-30.86M	59.22M	-10.38M	98.89M	47.7M	183.4M
Cash from Investing+	13.02M	-72.98M	-13.34M	-13.52M	-727.83M	-26.33M	-111.54M	-108.05M	-56.51M	-36.47M
Capital Expenditures	-11.54M	-9.64M	-8.39M	-13.88M	-28.29M	-26.88M	-25.63M	-35.36M	-41.87M	0
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	24.57M	-63.34M	-4.95M	360K	636K	541K	0	14.67M	-2.15M	-36.47M
Cash from Financing+	66.56M	109.74M	44.28M	8.07M	719.02M	-68.85M	-76.87M	15.27M	-265.13M	-218.21M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-2M	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.74M	-202K	120K	0	-31.21M	-4.53M	0	21.27M	-8.87M	-9.05M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-76.29M	-44.84M	-9.44M	-33.98M	11.18M	100.52M	182.94M	232.19M	329.43M	287.79M
FCF Margin %	-0.08%	-0.05%	-0.01%	-0.02%	0%	0.03%	0.05%	0.06%	0.08%	0.06%
FCF Growth %	-0.69%	0.41%	0.79%	-2.6%	1.33%	7.99%	0.82%	0.27%	0.42%	-0.13%
FCF per Share	-4.44	-1.91	-0.31	-1.06	0.07	0.56	1.01	1.28	1.83	1.66
FCF Conversion (FCF/Net Income)	0.22x	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x
Interest Paid	34.3M	34.7M	45.38M	47.17M	50.81M	97.64M	60.92M	50.37M	69.8M	71.55M
Taxes Paid	114K	372K	649K	1.6M	2.4M	2.88M	5.71M	13.44M	75.24M	64.52M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-441.6%	-	-	-	-19.91%	-0.84%	12.77%	11.75%	19.02%	14.99%
Return on Invested Capital (ROIC)	-44.14%	-7.25%	-12.32%	8.13%	-0.02%	3.81%	6.59%	8.07%	10.51%	10.84%
Gross Margin	26.47%	28.01%	32.95%	21.77%	22.2%	22.5%	22.67%	21.98%	22.81%	20.27%
Net Margin	-30.56%	-4.57%	-7.86%	-0.32%	-3.29%	-0.27%	4.07%	3.82%	6.21%	4.24%
Debt / Equity	-	-	-	-	1.53x	1.20x	0.99x	0.83x	0.82x	0.87x
Interest Coverage	-7.71x	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x
FCF Conversion	0.22x	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x
Revenue Growth	6.46%	-4.75%	-12.65%	137.37%	19.11%	31.26%	13.39%	14.72%	9.06%	16.17%

Revenue by Segment

	2012	2013	2014
Infusion Services	-	697.33M	922.65M
Infusion Services Growth	-	-	32.31%
PBM Services	111.86M	72.59M	61.4M
PBM Services Growth	-	-35.11%	-15.42%
Home Health Services	69.19M	72.28M	-
Home Health Services Growth	-	4.46%	-

Frequently Asked Questions

Valuation & Price

Option Care Health, Inc. (OPCH) has a price-to-earnings (P/E) ratio of 29.4x. This suggests investors expect higher future growth.

Growth & Financials

Option Care Health, Inc. (OPCH) reported $5.53B in revenue for fiscal year 2024. This represents a 897% increase from $554.5M in 2011.

Option Care Health, Inc. (OPCH) grew revenue by 16.2% over the past year. This is strong growth.

Yes, Option Care Health, Inc. (OPCH) is profitable, generating $209.2M in net income for fiscal year 2024 (4.2% net margin).

Dividend & Returns

Option Care Health, Inc. (OPCH) has a return on equity (ROE) of 15.0%. This is reasonable for most industries.

Option Care Health, Inc. (OPCH) generated $248.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Option Care Health, Inc. (OPCH) 10-Year Financial Performance & Capital Metrics

OPCH • • Industrial / General

HealthcareHealthcare FacilitiesHome Health & Hospice CareHome Infusion Services

Revenue $5B +16.2%
EBITDA $385M +2.3%
Net Income $212M -20.7%
EPS (Diluted) 1.23 -16.9%
Gross Margin 20.27% -11.1%
EBITDA Margin 7.71% -12.0%
Operating Margin 6.44% -11.9%
Net Margin 4.24% -31.7%
ROE 14.99% -21.2%
ROIC 10.84% +3.2%
Debt/Equity 0.87 +5.7%
Interest Coverage 5.31 +5.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 16.7%
✓Good 3Y average ROE of 15.3%
✓Share count reduced 4.2% through buybacks
✓Trading near 52-week high
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y18.41%

5Y16.69%

3Y13.28%

TTM15.79%

Profit (Net Income) CAGR

10Y-

5Y-

3Y14.83%

TTM0.17%

EPS CAGR

10Y-

5Y-

3Y16.9%

TTM5.88%

ROCE

10Y Avg-2.23%

5Y Avg9.17%

3Y Avg11.03%

Latest12.03%

Peer Comparison

Home Infusion Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OPCHOption Care Health, Inc.	5.73B	36.11	29.36	16.17%	3.78%	15.4%	5.02%	0.87

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	982.22M	935.59M	817.19M	1.94B	2.31B	3.03B	3.44B	3.94B	4.3B	5B
Revenue Growth %	0.06%	-0.05%	-0.13%	1.37%	0.19%	0.31%	0.13%	0.15%	0.09%	0.16%
Cost of Goods Sold+	722.27M	673.51M	547.95M	1.52B	1.8B	2.35B	2.66B	3.08B	3.32B	3.99B
COGS % of Revenue	0.74%	0.72%	0.67%	0.78%	0.78%	0.78%	0.77%	0.78%	0.77%	0.8%
Gross Profit+	259.95M	262.08M	269.24M	422.21M	513M	682.26M	779.61M	866.92M	981.22M	1.01B
Gross Margin %	0.26%	0.28%	0.33%	0.22%	0.22%	0.22%	0.23%	0.22%	0.23%	0.2%
Gross Profit Growth %	0.04%	0.01%	0.03%	0.57%	0.22%	0.33%	0.14%	0.11%	0.13%	0.03%
Operating Expenses+	547.6M	298.25M	332.55M	383.95M	513.32M	571.51M	588.76M	626.69M	666.63M	691.16M
OpEx % of Revenue	0.56%	0.32%	0.41%	0.2%	0.22%	0.19%	0.17%	0.16%	0.15%	0.14%
Selling, General & Admin	42.47M	38.8M	39.63M	345.88M	459.63M	500.2M	525.71M	566.12M	607.43M	630.25M
SG&A % of Revenue	0.04%	0.04%	0.05%	0.18%	0.2%	0.16%	0.15%	0.14%	0.14%	0.13%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	505.13M	259.46M	292.92M	38.06M	53.69M	71.31M	63.06M	60.56M	59.2M	60.91M
Operating Income+	-287.65M	-36.17M	-63.3M	38.27M	-319K	110.75M	190.84M	240.23M	314.6M	321.83M
Operating Margin %	-0.29%	-0.04%	-0.08%	0.02%	-0%	0.04%	0.06%	0.06%	0.07%	0.06%
Operating Income Growth %	-25.08%	0.87%	-0.75%	1.6%	-1.01%	348.19%	0.72%	0.26%	0.31%	0.02%
EBITDA+	-264.78M	-14.15M	-35.58M	79.32M	57.55M	188.65M	259.64M	305.67M	376.8M	385.33M
EBITDA Margin %	-0.27%	-0.02%	-0.04%	0.04%	0.02%	0.06%	0.08%	0.08%	0.09%	0.08%
EBITDA Growth %	-8.59%	0.95%	-1.51%	3.23%	-0.27%	2.28%	0.38%	0.18%	0.23%	0.02%
D&A (Non-Cash Add-back)	22.86M	22.02M	27.73M	41.05M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M
EBIT	-289.41M	31.48M	38.62M	37.06M	-4.47M	102.53M	183.5M	259.57M	409.99M	332.63M
Net Interest Income+	-37.31M	-37.57M	-52.07M	-46.12M	-73.39M	-91.19M	-55.46M	-54.9M	-62.22M	-60.56M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	37.31M	37.57M	52.07M	46.12M	73.39M	91.19M	55.46M	54.9M	62.22M	60.56M
Other Income/Expense	-38.7M	2.02M	-4.13M	-47.04M	-77.88M	-116M	-74.35M	-34.46M	44.15M	-38.23M
Pretax Income+	-326.35M	-34.16M	-67.43M	-8.77M	-78.19M	-5.24M	116.49M	205.77M	358.74M	283.6M
Pretax Margin %	-0.33%	-0.04%	-0.08%	-0%	-0.03%	-0%	0.03%	0.05%	0.08%	0.06%
Income Tax+	-21.53M	2.02M	-4.13M	-2.65M	-2.27M	2.83M	-23.4M	55.21M	91.65M	71.78M
Effective Tax Rate %	0.92%	1.25%	0.95%	0.7%	0.97%	1.54%	1.2%	0.73%	0.74%	0.75%
Net Income+	-300.13M	-42.77M	-64.2M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M
Net Margin %	-0.31%	-0.05%	-0.08%	-0%	-0.03%	-0%	0.04%	0.04%	0.06%	0.04%
Net Income Growth %	-1.04%	0.86%	-0.5%	0.9%	-11.42%	0.89%	18.32%	0.08%	0.77%	-0.21%
Net Income (Continuing)	-304.82M	-36.17M	-63.3M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M
Discontinued Operations	4.69M	-6.59M	-893K	-101K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-17.45	-1.77	-2.02	-1.62	-0.49	-0.04	0.77	0.83	1.48	1.23
EPS Growth %	-1.03%	0.9%	-0.14%	0.2%	0.7%	0.91%	18.26%	0.08%	0.78%	-0.17%
EPS (Basic)	-17.45	-1.77	-2.02	-1.62	-0.49	-0.04	0.78	0.83	1.49	1.23
Diluted Shares Outstanding	17.18M	23.43M	30.95M	31.99M	156.28M	180.97M	181.21M	182.07M	180.38M	172.84M
Basic Shares Outstanding	17.18M	23.43M	30.95M	31.99M	156.28M	180.97M	179.85M	181.1M	178.97M	171.57M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	186.97M	176.05M	189.32M	174.71M	558.65M	657.01M	710.26M	994.34M	1.09B	1.32B
Cash & Short-Term Investments	15.58M	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M
Cash Only	15.58M	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	97.35M	109.09M	85.52M	114.86M	324.42M	330.74M	338.24M	383.14M	430.16M	409.73M
Days Sales Outstanding	36.18	42.56	38.2	21.61	51.25	39.81	35.9	35.45	36.49	29.92
Inventory	42.98M	36.16M	37.27M	26.69M	115.88M	158.6M	183.09M	224.28M	274M	388.13M
Days Inventory Outstanding	21.72	19.6	24.83	6.42	23.53	24.63	25.13	26.6	30.11	35.55
Other Current Assets	0	18.51M	4.95M	4.32M	13.9M	68.41M	69.5M	92.73M	46.24M	112.2M
Total Non-Current Assets+	359.53M	431.69M	416.56M	409.23M	2.03B	2.12B	2.22B	2.24B	2.23B	2.1B
Property, Plant & Equipment	31.94M	32.53M	27.57M	28.79M	133.2M	189.94M	186.31M	180.75M	204.79M	213.9M
Fixed Asset Turnover	30.75x	28.76x	29.64x	67.38x	17.35x	15.97x	18.46x	21.82x	21.01x	23.37x
Goodwill	308.73M	365.95M	367.2M	367.2M	1.43B	1.43B	1.48B	1.53B	1.54B	1.54B
Intangible Assets	5.13M	31.04M	19.5M	10.47M	385.91M	351.05M	366.02M	364.12M	335.4M	16.99M
Long-Term Investments	0	0	0	14.6M	-2.14M	17M	20.1M	36.74M	31.08M	31.18M
Other Non-Current Assets	13.74M	2.16M	2.29M	-12.86M	86.24M	3.82M	3.63M	3.57M	11.27M	296.8M
Total Assets+	546.5M	607.74M	605.88M	583.94M	2.59B	2.77B	2.93B	3.23B	3.33B	3.42B
Asset Turnover	1.80x	1.54x	1.35x	3.32x	0.89x	1.09x	1.18x	1.22x	1.29x	1.46x
Asset Growth %	-0.34%	0.11%	-0%	-0.04%	3.43%	0.07%	0.06%	0.1%	0.03%	0.03%
Total Current Liabilities+	156.05M	130.35M	105.47M	107.32M	330M	434.02M	459.69M	565.35M	618.31M	780.15M
Accounts Payable	65.08M	64.42M	65.96M	67.03M	221.06M	282.91M	279.25M	378.76M	426.51M	610.78M
Days Payables Outstanding	32.89	34.91	43.94	16.12	44.89	43.94	38.33	44.92	46.88	55.94
Short-Term Debt	24.38M	18.52M	1.72M	3.18M	29.64M	28.14M	25.09M	25.38M	24.28M	6.51M
Deferred Revenue (Current)	0	0	1000K	0	1000K	0	0	0	0	0
Other Current Liabilities	6.78M	0	0	0	23.23M	64.08M	71.86M	84.3M	75.01M	140.81M
Current Ratio	1.20x	1.35x	1.79x	1.63x	1.69x	1.51x	1.55x	1.76x	1.77x	1.70x
Quick Ratio	0.92x	1.07x	1.44x	1.38x	1.34x	1.15x	1.15x	1.36x	1.33x	1.20x
Cash Conversion Cycle	25.01	27.25	19.09	11.91	29.89	20.5	22.7	17.13	19.73	9.53
Total Non-Current Liabilities+	471.33M	508.95M	581.51M	620.63M	1.35B	1.32B	1.29B	1.28B	1.29B	1.24B
Long-Term Debt	406.32M	433.41M	478.87M	501.5M	1.28B	1.12B	1.06B	1.06B	1.06B	1.1B
Capital Lease Obligations	-62.92M	494K	0	0	58.24M	70.78M	74.49M	71.44M	85.48M	84.78M
Deferred Tax Liabilities	236K	2.28M	0	67.84M	2.14M	128.56M	134.72M	141.6M	146.24M	47.58M
Other Non-Current Liabilities	-61.06M	1.26M	102.65M	119.13M	17.23M	8.47M	20.94M	9.68M	0	366K
Total Liabilities	627.38M	639.3M	686.99M	727.94M	1.68B	1.76B	1.75B	1.85B	1.91B	2.02B
Total Debt+	433.98M	451.93M	480.59M	504.67M	1.39B	1.21B	1.16B	1.16B	1.17B	1.22B
Net Debt	418.41M	442.37M	441.13M	490.13M	1.32B	1.11B	1.04B	860.84M	822.56M	805.41M
Debt / Equity	-	-	-	-	1.53x	1.20x	0.99x	0.83x	0.82x	0.87x
Debt / EBITDA	-	-	-	6.36x	24.08x	6.44x	4.47x	3.78x	3.10x	3.16x
Net Debt / EBITDA	-	-	-	6.18x	22.91x	5.91x	4.01x	2.82x	2.18x	2.09x
Interest Coverage	-7.71x	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x
Total Equity+	-80.88M	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B
Equity Growth %	-1.37%	0.61%	-1.57%	-0.78%	7.3%	0.12%	0.16%	0.18%	0.03%	-0.01%
Book Value per Share	-4.71	-1.35	-2.62	-4.50	5.80	5.61	6.49	7.61	7.88	8.12
Total Shareholders' Equity	-80.88M	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B
Common Stock	8K	12K	13K	13K	18K	18K	18K	18K	18K	18K
Retained Earnings	-601.91M	-643.42M	-706.02M	-761.2M	-91.95M	-100.03M	39.87M	190.42M	457.51M	669.34M
Treasury Stock	-10.74M	0	0	-950K	-2.4M	-2.4M	-2.4M	-2.4M	-255.11M	-507.6M
Accumulated OCI	-62.03M	-75.09M	-88.3M	1M	-7.2M	-11.17M	-451K	21.16M	14.98M	11.05M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-64.74M	-35.2M	-1.05M	-20.1M	39.47M	127.39M	208.57M	267.55M	371.3M	323.39M
Operating CF Margin %	-0.07%	-0.04%	-0%	-0.01%	0.02%	0.04%	0.06%	0.07%	0.09%	0.06%
Operating CF Growth %	-1.06%	0.46%	0.97%	-18.11%	2.96%	2.23%	0.64%	0.28%	0.39%	-0.13%
Net Income	-303.43M	-34.37M	-61.28M	-51.59M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M
Depreciation & Amortization	22.74M	21.55M	26.31M	23.6M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M
Stock-Based Compensation	4.51M	1.96M	2.36M	4.17M	4.17M	2.92M	9.57M	16.78M	30.48M	36.14M
Deferred Taxes	-20.09M	2.04M	-3.15M	66K	-4.61M	1.2M	-30.37M	49.19M	12.77M	12.66M
Other Non-Cash Items	252.81M	-14.96M	17.01M	20.35M	19.38M	46.33M	32.03M	15.36M	20.2M	19.52M
Working Capital Changes	-21.29M	-11.44M	17.71M	-16.71M	38.58M	7.13M	-11.37M	-29.78M	-21.45M	-20.25M
Change in Receivables	16.45M	-2.5M	23.56M	-29.34M	82.28M	-3.92M	-4.27M	-36.89M	224K	-32.08M
Change in Inventory	-5.77M	10.02M	-1.77M	11.36M	-12.85M	-42.73M	-22.7M	-41.01M	-51M	-114.13M
Change in Payables	-24.13M	-20.52M	-2.54M	1.06M	-30.86M	59.22M	-10.38M	98.89M	47.7M	183.4M
Cash from Investing+	13.02M	-72.98M	-13.34M	-13.52M	-727.83M	-26.33M	-111.54M	-108.05M	-56.51M	-36.47M
Capital Expenditures	-11.54M	-9.64M	-8.39M	-13.88M	-28.29M	-26.88M	-25.63M	-35.36M	-41.87M	0
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	24.57M	-63.34M	-4.95M	360K	636K	541K	0	14.67M	-2.15M	-36.47M
Cash from Financing+	66.56M	109.74M	44.28M	8.07M	719.02M	-68.85M	-76.87M	15.27M	-265.13M	-218.21M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-2M	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2.74M	-202K	120K	0	-31.21M	-4.53M	0	21.27M	-8.87M	-9.05M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-76.29M	-44.84M	-9.44M	-33.98M	11.18M	100.52M	182.94M	232.19M	329.43M	287.79M
FCF Margin %	-0.08%	-0.05%	-0.01%	-0.02%	0%	0.03%	0.05%	0.06%	0.08%	0.06%
FCF Growth %	-0.69%	0.41%	0.79%	-2.6%	1.33%	7.99%	0.82%	0.27%	0.42%	-0.13%
FCF per Share	-4.44	-1.91	-0.31	-1.06	0.07	0.56	1.01	1.28	1.83	1.66
FCF Conversion (FCF/Net Income)	0.22x	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x
Interest Paid	34.3M	34.7M	45.38M	47.17M	50.81M	97.64M	60.92M	50.37M	69.8M	71.55M
Taxes Paid	114K	372K	649K	1.6M	2.4M	2.88M	5.71M	13.44M	75.24M	64.52M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-441.6%	-	-	-	-19.91%	-0.84%	12.77%	11.75%	19.02%	14.99%
Return on Invested Capital (ROIC)	-44.14%	-7.25%	-12.32%	8.13%	-0.02%	3.81%	6.59%	8.07%	10.51%	10.84%
Gross Margin	26.47%	28.01%	32.95%	21.77%	22.2%	22.5%	22.67%	21.98%	22.81%	20.27%
Net Margin	-30.56%	-4.57%	-7.86%	-0.32%	-3.29%	-0.27%	4.07%	3.82%	6.21%	4.24%
Debt / Equity	-	-	-	-	1.53x	1.20x	0.99x	0.83x	0.82x	0.87x
Interest Coverage	-7.71x	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x
FCF Conversion	0.22x	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x
Revenue Growth	6.46%	-4.75%	-12.65%	137.37%	19.11%	31.26%	13.39%	14.72%	9.06%	16.17%

Revenue by Segment

	2012	2013	2014
Infusion Services	-	697.33M	922.65M
Infusion Services Growth	-	-	32.31%
PBM Services	111.86M	72.59M	61.4M
PBM Services Growth	-	-35.11%	-15.42%
Home Health Services	69.19M	72.28M	-
Home Health Services Growth	-	4.46%	-

Frequently Asked Questions

Valuation & Price

Option Care Health, Inc. (OPCH) has a price-to-earnings (P/E) ratio of 29.4x. This suggests investors expect higher future growth.

Growth & Financials

Option Care Health, Inc. (OPCH) reported $5.53B in revenue for fiscal year 2024. This represents a 897% increase from $554.5M in 2011.

Option Care Health, Inc. (OPCH) grew revenue by 16.2% over the past year. This is strong growth.

Yes, Option Care Health, Inc. (OPCH) is profitable, generating $209.2M in net income for fiscal year 2024 (4.2% net margin).

Dividend & Returns

Option Care Health, Inc. (OPCH) has a return on equity (ROE) of 15.0%. This is reasonable for most industries.

Option Care Health, Inc. (OPCH) generated $248.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.