Chemed Corporation (CHE) 10-Year Financial Performance & Capital Metrics

CHE •

HealthcareHealthcare FacilitiesHome-based care services

AboutChemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in two segments, VITAS and Roto-Rooter. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees. The company was incorporated in 1970 and is headquartered in Cincinnati, Ohio.Show more

Revenue $2.53B +4.1%
EBITDA $338M -21.3%
Net Income $265M -12.2%
EPS (Diluted) 18.42 -7.4%
Gross Margin -
EBITDA Margin 13.37% -24.3%
Operating Margin 13.37% -11.3%
Net Margin 10.48% -15.6%
ROE 25.28% -6.8%
ROIC 23.82% -9.9%
Debt/Equity 0.15 +16.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 27.0%
✓18 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 5.2% through buybacks
✓Healthy 5Y average net margin of 11.8%
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.07%

5Y4%

3Y5.82%

TTM4.06%

Profit (Net Income) CAGR

10Y9.17%

5Y-3.65%

3Y2.04%

TTM-12.17%

EPS CAGR

10Y11.27%

5Y-1.11%

3Y3.67%

TTM-7.83%

ROCE

10Y Avg28.15%

5Y Avg28.53%

3Y Avg26.56%

Latest25.68%

Peer Comparison

Home-based care services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OPCHOption Care Health, Inc.	5.09B	32.46	25.36	13.03%	3.67%	15.65%	5.08%
CHEChemed Corporation	5.78B	410.01	22.26	4.06%	10.48%	27.08%	5.63%	0.15
ADUSAddus HomeCare Corporation	1.92B	103.53	19.87	23.21%	6.74%	8.84%		0.19
DCGODocGo Inc.	73.17M	0.72	3.99	-1.24%	-14.02%	-19.79%	88.15%	0.18
EHABEnhabit, Inc.	685.94M	13.61	-4.38	-1.1%	-1.14%	-1.99%	6.91%	1.03
AVAHAveanna Healthcare Holdings Inc.	1.53B	7.36	-129.81	6.82%	0.85%		1.72%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.58B	1.67B	1.78B	1.94B	2.08B	2.14B	2.13B	2.26B	2.43B	2.53B
Revenue Growth %	2.17%	5.7%	6.96%	8.75%	7.27%	2.87%	-0.2%	6.06%	7.37%	4.06%
Cost of Goods Sold+	1.12B	1.15B	1.23B	1.32B	1.38B	1.37B	1.37B	1.47B	1.58B	0
COGS % of Revenue	70.74%	69.03%	68.87%	68.15%	66.27%	64.02%	64.16%	64.72%	64.86%	-
Gross Profit+	461.45M	516.19M	555M	617.43M	701.39M	769.8M	765.09M	798.82M	854.35M	0
Gross Margin %	29.26%	30.97%	31.13%	31.85%	33.73%	35.98%	35.84%	35.28%	35.14%	-
Gross Profit Growth %	1.24%	11.86%	7.52%	11.25%	13.6%	9.75%	-0.61%	4.41%	6.95%	-100%
Operating Expenses+	282.7M	403.16M	311.37M	360.05M	311.71M	426.76M	421.59M	458.25M	487.86M	417.19M
OpEx % of Revenue	17.93%	24.19%	17.47%	18.57%	14.99%	19.95%	19.75%	20.24%	20.07%	16.49%
Selling, General & Admin	248.06M	276.65M	271.21M	305.71M	330.22M	366.73M	358.73M	395.12M	424.36M	417.19M
SG&A % of Revenue	15.73%	16.6%	15.21%	15.77%	15.88%	17.14%	16.8%	17.45%	17.45%	16.49%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	34.64M	126.5M	40.16M	54.34M	-18.51M	60.04M	62.86M	63.13M	63.49M	0
Operating Income+	178.75M	113.03M	243.63M	257.38M	389.68M	343.04M	343.5M	340.57M	366.49M	338.25M
Operating Margin %	11.34%	6.78%	13.67%	13.28%	18.74%	16.04%	16.09%	15.04%	15.07%	13.37%
Operating Income Growth %	-3.09%	-36.76%	115.54%	5.64%	51.4%	-11.97%	0.13%	-0.85%	7.61%	-7.71%
EBITDA+	213.39M	148.66M	282.5M	302.58M	446.26M	402.09M	402.67M	401.43M	429.54M	338.25M
EBITDA Margin %	13.53%	8.92%	15.85%	15.61%	21.46%	18.8%	18.86%	17.73%	17.67%	13.37%
EBITDA Growth %	-2.1%	-30.33%	90.03%	7.11%	47.48%	-9.9%	0.14%	-0.31%	7%	-21.25%
D&A (Non-Cash Add-back)	34.64M	35.63M	38.86M	45.2M	56.58M	59.05M	59.17M	60.87M	63.05M	0
EBIT	180.77M	121.19M	244.59M	266.14M	398.35M	352.18M	334.26M	353.48M	401.25M	0
Net Interest Income+	-3.33M	-3.85M	-4.32M	-4.02M	-1.6M	-1.49M	-4.23M	3.16M	12.83M	0
Interest Income	383K	427K	671K	513K	757K	377K	355K	6.27M	14.61M	8.74M
Interest Expense	3.71M	4.27M	4.99M	4.54M	2.35M	1.87M	4.58M	3.11M	1.78M	-1.75M
Other Income/Expense	-1.7M	3.88M	-4.03M	4.23M	6.31M	7.28M	-13.82M	9.8M	32.97M	17.53M
Pretax Income+	177.05M	116.92M	239.6M	261.61M	395.99M	350.31M	329.68M	350.37M	399.46M	355.78M
Pretax Margin %	11.23%	7.01%	13.44%	13.5%	19.04%	16.38%	15.44%	15.47%	16.43%	14.06%
Income Tax+	68.31M	18.74M	34.06M	41.69M	76.52M	81.76M	80.06M	77.86M	97.47M	90.54M
Effective Tax Rate %	61.42%	83.97%	85.79%	84.07%	80.68%	76.66%	75.72%	77.78%	75.6%	74.55%
Net Income+	108.74M	98.18M	205.54M	219.92M	319.47M	268.55M	249.62M	272.51M	302M	265.24M
Net Margin %	6.9%	5.89%	11.53%	11.34%	15.36%	12.55%	11.69%	12.03%	12.42%	10.48%
Net Income Growth %	-1.39%	-9.72%	109.36%	7%	45.26%	-15.94%	-7.05%	9.17%	10.82%	-12.17%
Net Income (Continuing)	108.74M	98.18M	205.54M	219.92M	319.47M	268.55M	249.62M	272.51M	302M	265.24M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	6.48	5.86	12.23	13.31	19.48	16.85	16.53	17.93	19.89	18.42
EPS Growth %	2.37%	-9.57%	108.7%	8.83%	46.36%	-13.5%	-1.9%	8.47%	10.93%	-7.39%
EPS (Basic)	6.64	6.11	12.80	13.77	20.02	17.14	16.72	18.11	20.10	18.42
Diluted Shares Outstanding	16.79M	16.74M	16.8M	16.53M	16.4M	15.94M	15.1M	15.2M	15.19M	14.4M
Basic Shares Outstanding	16.38M	16.06M	16.06M	15.97M	15.96M	15.67M	14.93M	15.05M	15.02M	14.4M
Dividend Payout Ratio	15.12%	17.69%	9.08%	9%	6.6%	8.2%	8.82%	8.62%	8.97%	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	169.9M	176.05M	159.84M	190.67M	329.4M	230.29M	272.61M	500.84M	394.75M	302.62M
Cash & Short-Term Investments	15.31M	11.12M	4.83M	6.16M	162.68M	32.9M	74.13M	263.96M	178.35M	74.52M
Cash Only	15.31M	11.12M	4.83M	6.16M	162.68M	32.9M	74.13M	263.96M	178.35M	74.52M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	132.02M	113.65M	119.5M	143.83M	126.85M	137.22M	139.41M	181.51M	171.16M	182.57M
Days Sales Outstanding	30.56	24.89	24.47	27.08	22.26	23.41	23.83	29.26	25.7	26.34
Inventory	5.75M	5.33M	5.71M	7.46M	7.09M	10.11M	10.27M	12M	8.19M	7.54M
Days Inventory Outstanding	1.88	1.69	1.7	2.06	1.88	2.69	2.74	2.99	1.9	-
Other Current Assets	0	0	0	0	0	0	0	0	0	37.98M
Total Non-Current Assets+	710.16M	743.98M	815.69M	1.08B	1.11B	1.11B	1.17B	1.17B	1.27B	1.24B
Property, Plant & Equipment	121.3M	143.03M	162.03M	287.42M	311.27M	318.73M	335.38M	330.23M	328.16M	131.15M
Fixed Asset Turnover	13.00x	11.65x	11.00x	6.74x	6.68x	6.71x	6.37x	6.86x	7.41x	19.29x
Goodwill	472.37M	476.89M	510.57M	577.37M	578.59M	578.59M	581.29M	585.02M	666.74M	667M
Intangible Assets	55.06M	54.87M	68.25M	126.37M	118.08M	108.1M	99.73M	90.26M	92.21M	82.76M
Long-Term Investments	54.39M	62.07M	65.62M	77.45M	88.81M	98.88M	0	0	0	140.35M
Other Non-Current Assets	7.04M	7.13M	9.21M	9.05M	8.76M	8.14M	153M	161.74M	186.72M	214.31M
Total Assets+	880.06M	920.03M	975.53M	1.27B	1.43B	1.34B	1.44B	1.67B	1.67B	1.54B
Asset Turnover	1.79x	1.81x	1.83x	1.53x	1.45x	1.59x	1.48x	1.36x	1.46x	1.64x
Asset Growth %	3.25%	4.54%	6.03%	30.01%	13.13%	-6.42%	7.39%	15.68%	0.03%	-7.81%
Total Current Liabilities+	171.83M	193.52M	191.67M	262.22M	299.11M	302.4M	297.2M	312.05M	285.69M	287.13M
Accounts Payable	39.59M	48.37M	50.15M	51.1M	54.23M	73.02M	41.88M	64.03M	44.15M	64.46M
Days Payables Outstanding	12.95	15.35	14.91	14.12	14.36	19.46	11.16	15.95	10.22	-
Short-Term Debt	8.75M	10M	0	0	0	0	5M	15.7M	0	40.89M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	73.73M	86.4M	93.57M	114.44M	133.88M	134.63M	145.84M	121.87M	134.75M	181.78M
Current Ratio	0.99x	0.91x	0.83x	0.73x	1.10x	0.76x	0.92x	1.61x	1.38x	1.05x
Quick Ratio	0.96x	0.88x	0.80x	0.70x	1.08x	0.73x	0.88x	1.57x	1.35x	1.03x
Cash Conversion Cycle	19.49	11.24	11.25	15.02	9.78	6.64	15.41	16.3	17.37	-
Total Non-Current Liabilities+	184.13M	186.15M	192.53M	279.49M	234.6M	417.05M	346.09M	248.17M	263.89M	271.65M
Long-Term Debt	100M	91.2M	89.2M	90M	0	185M	92.5M	0	0	102.87M
Capital Lease Obligations	-54.29M	-61.8M	0	86.66M	99.21M	100.63M	110.51M	100.78M	98.54M	0
Deferred Tax Liabilities	14.29M	16.64M	21.6M	18.5M	20.66M	23.18M	38.61M	30.32M	25.95M	19.31M
Other Non-Current Liabilities	69.84M	78.31M	81.73M	84.33M	114.73M	108.24M	104.47M	117.07M	139.4M	149.47M
Total Liabilities	355.96M	379.67M	384.19M	541.71M	533.71M	719.45M	643.3M	560.22M	549.58M	558.78M
Total Debt+	108.75M	101.2M	89.2M	215.94M	135.41M	323.54M	247.01M	155.11M	140.84M	143.76M
Net Debt	93.44M	90.08M	84.37M	209.78M	-27.27M	290.65M	172.88M	-108.85M	-37.51M	69.24M
Debt / Equity	0.21x	0.19x	0.15x	0.30x	0.15x	0.52x	0.31x	0.14x	0.13x	0.15x
Debt / EBITDA	0.51x	0.68x	0.32x	0.71x	0.30x	0.80x	0.61x	0.39x	0.33x	0.43x
Net Debt / EBITDA	0.44x	0.61x	0.30x	0.69x	-0.06x	0.72x	0.43x	-0.27x	-0.09x	0.20x
Interest Coverage	48.12x	26.46x	48.82x	56.75x	165.47x	183.64x	74.93x	109.58x	205.89x	-
Total Equity+	524.1M	540.35M	591.33M	726.61M	901.2M	623.27M	798.72M	1.11B	1.12B	979.4M
Equity Growth %	2.11%	3.1%	9.43%	22.88%	24.03%	-30.84%	28.15%	38.71%	1%	-12.47%
Book Value per Share	31.22	32.28	35.19	43.96	54.96	39.11	52.90	72.89	73.69	68.02
Total Shareholders' Equity	524.1M	540.35M	591.33M	726.61M	901.2M	623.27M	798.72M	1.11B	1.12B	979.4M
Common Stock	34.27M	34.73M	35.31M	35.81M	36.26M	36.51M	36.8M	37.18M	37.42M	0
Retained Earnings	958.15M	1.04B	1.23B	1.43B	1.72B	1.97B	2.2B	2.45B	2.72B	979.4M
Treasury Stock	-1.11B	-1.23B	-1.45B	-1.6B	-1.82B	-2.43B	-2.59B	-2.72B	-3.13B	0
Accumulated OCI	2.51M	2.2M	2.34M	2.31M	2.34M	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	135.39M	162.5M	287.14M	301.25M	489.29M	308.6M	309.89M	330.3M	417.5M	388.27M
Operating CF Margin %	8.59%	9.75%	16.11%	15.54%	23.53%	14.43%	14.51%	14.59%	17.17%	15.35%
Operating CF Growth %	-21.05%	20.02%	76.71%	4.91%	62.42%	-36.93%	0.42%	6.59%	26.4%	-7%
Net Income	108.74M	98.18M	205.54M	219.92M	319.47M	268.55M	249.62M	272.51M	302M	265.24M
Depreciation & Amortization	34.64M	35.63M	38.86M	45.2M	56.58M	59.05M	59.17M	60.87M	63.05M	64.84M
Stock-Based Compensation	1.85M	1.23M	446K	14.83M	18.42M	22.5M	26.25M	30.08M	32.03M	4.89M
Deferred Taxes	-6.71M	2.41M	5.19M	-2.77M	37.78M	-15.78M	-3.35M	-8.03M	-4.14M	-5.94M
Other Non-Cash Items	13.71M	29.05M	7.33M	16.48M	12.61M	1.07M	11.67M	14.18M	16.42M	59.25M
Working Capital Changes	-25.18M	-14.48M	17.15M	7.58M	44.43M	-26.8M	-33.49M	-39.31M	8.13M	0
Change in Receivables	-42.14M	1.07M	-5.57M	-19.25M	12.77M	-8.43M	-2.41M	-41.49M	10.68M	-11.6M
Change in Inventory	559K	421K	-351K	-1.76M	367K	-3.01M	-162K	-1.73M	3.83M	650K
Change in Payables	891K	12.89M	8.94M	28.42M	19.1M	9.83M	15.34M	-9.35M	-9.28M	0
Cash from Investing+	-39.86M	-67.61M	-105.22M	-190.76M	-61.56M	-57.76M	-59.4M	-60.64M	-143.91M	-59.34M
Capital Expenditures	-39.77M	-64.3M	-52.87M	-53.02M	-58.83M	-58.67M	-57.33M	-56.85M	-49.53M	-62.8M
CapEx % of Revenue	2.52%	3.86%	2.97%	2.74%	2.83%	2.74%	2.69%	2.51%	2.04%	2.48%
Acquisitions	0	-4.72M	-53.18M	-138.01M	-3.6M	0	-3.53M	-3.99M	-97.4M	-225K
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-90K	1.42M	824K	272K	871K	918K	1.45M	206K	3.02M	3.68M
Cash from Financing+	-94.95M	-99.08M	-188.2M	-109.16M	-271.21M	-380.62M	-209.25M	-79.83M	-359.19M	-432.77M
Debt Issued (Net)	16.76M	-850K	-13.53M	800K	-90M	196.88M	-99.38M	-81.75M	-15.75M	0
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-16.44M	-17.37M	-18.66M	-19.79M	-21.08M	-22.02M	-22.02M	-23.5M	-27.09M	-31.7M
Share Repurchases	-102.31M	-94.64M	-158.88M	-92.63M	-175.59M	-576.04M	-114.52M	-67.7M	-361.39M	-431.5M
Other Financing	7.04M	13.79M	2.87M	2.46M	15.46M	20.55M	26.66M	93.13M	45.04M	-401.07M
Net Change in Cash	583K	-4.19M	-6.29M	1.33M	156.52M	-129.78M	41.23M	189.83M	-85.61M	-103.83M
Free Cash Flow+	95.62M	98.19M	234.27M	248.23M	430.46M	249.92M	252.56M	273.44M	367.97M	325.48M
FCF Margin %	6.06%	5.89%	13.14%	12.8%	20.7%	11.68%	11.83%	12.08%	15.13%	12.86%
FCF Growth %	-24.92%	2.69%	138.57%	5.96%	73.41%	-41.94%	1.06%	8.27%	34.57%	-11.55%
FCF per Share	5.70	5.87	13.94	15.02	26.25	15.68	16.73	17.99	24.23	22.61
FCF Conversion (FCF/Net Income)	1.25x	1.66x	1.40x	1.37x	1.53x	1.15x	1.24x	1.21x	1.38x	1.46x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	20.97%	18.45%	36.33%	33.37%	39.25%	35.23%	35.11%	28.59%	27.12%	25.28%
Return on Invested Capital (ROIC)	22.21%	13.59%	27.98%	23.95%	32.29%	28.78%	27.33%	25.92%	26.42%	23.82%
Gross Margin	29.26%	30.97%	31.13%	31.85%	33.73%	35.98%	35.84%	35.28%	35.14%	-
Net Margin	6.9%	5.89%	11.53%	11.34%	15.36%	12.55%	11.69%	12.03%	12.42%	10.48%
Debt / Equity	0.21x	0.19x	0.15x	0.30x	0.15x	0.52x	0.31x	0.14x	0.13x	0.15x
Interest Coverage	48.12x	26.46x	48.82x	56.75x	165.47x	183.64x	74.93x	109.58x	205.89x	-
FCF Conversion	1.25x	1.66x	1.40x	1.37x	1.53x	1.15x	1.24x	1.21x	1.38x	1.46x
Revenue Growth	2.17%	5.7%	6.96%	8.75%	7.27%	2.87%	-0.2%	6.06%	7.37%	4.06%

US Stock Screener

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Chemed Corporation (CHE) 10-Year Financial Performance & Capital Metrics

CHE •

HealthcareHealthcare FacilitiesHome-based care services

Revenue $2.53B +4.1%
EBITDA $338M -21.3%
Net Income $265M -12.2%
EPS (Diluted) 18.42 -7.4%
Gross Margin -
EBITDA Margin 13.37% -24.3%
Operating Margin 13.37% -11.3%
Net Margin 10.48% -15.6%
ROE 25.28% -6.8%
ROIC 23.82% -9.9%
Debt/Equity 0.15 +16.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 27.0%
✓18 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 5.2% through buybacks
✓Healthy 5Y average net margin of 11.8%
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.07%

5Y4%

3Y5.82%

TTM4.06%

Profit (Net Income) CAGR

10Y9.17%

5Y-3.65%

3Y2.04%

TTM-12.17%

EPS CAGR

10Y11.27%

5Y-1.11%

3Y3.67%

TTM-7.83%

ROCE

10Y Avg28.15%

5Y Avg28.53%

3Y Avg26.56%

Latest25.68%

Peer Comparison

Home-based care services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OPCHOption Care Health, Inc.	5.09B	32.46	25.36	13.03%	3.67%	15.65%	5.08%
CHEChemed Corporation	5.78B	410.01	22.26	4.06%	10.48%	27.08%	5.63%	0.15
ADUSAddus HomeCare Corporation	1.92B	103.53	19.87	23.21%	6.74%	8.84%		0.19
DCGODocGo Inc.	73.17M	0.72	3.99	-1.24%	-14.02%	-19.79%	88.15%	0.18
EHABEnhabit, Inc.	685.94M	13.61	-4.38	-1.1%	-1.14%	-1.99%	6.91%	1.03
AVAHAveanna Healthcare Holdings Inc.	1.53B	7.36	-129.81	6.82%	0.85%		1.72%

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.58B	1.67B	1.78B	1.94B	2.08B	2.14B	2.13B	2.26B	2.43B	2.53B
Revenue Growth %	2.17%	5.7%	6.96%	8.75%	7.27%	2.87%	-0.2%	6.06%	7.37%	4.06%
Cost of Goods Sold+	1.12B	1.15B	1.23B	1.32B	1.38B	1.37B	1.37B	1.47B	1.58B	0
COGS % of Revenue	70.74%	69.03%	68.87%	68.15%	66.27%	64.02%	64.16%	64.72%	64.86%	-
Gross Profit+	461.45M	516.19M	555M	617.43M	701.39M	769.8M	765.09M	798.82M	854.35M	0
Gross Margin %	29.26%	30.97%	31.13%	31.85%	33.73%	35.98%	35.84%	35.28%	35.14%	-
Gross Profit Growth %	1.24%	11.86%	7.52%	11.25%	13.6%	9.75%	-0.61%	4.41%	6.95%	-100%
Operating Expenses+	282.7M	403.16M	311.37M	360.05M	311.71M	426.76M	421.59M	458.25M	487.86M	417.19M
OpEx % of Revenue	17.93%	24.19%	17.47%	18.57%	14.99%	19.95%	19.75%	20.24%	20.07%	16.49%
Selling, General & Admin	248.06M	276.65M	271.21M	305.71M	330.22M	366.73M	358.73M	395.12M	424.36M	417.19M
SG&A % of Revenue	15.73%	16.6%	15.21%	15.77%	15.88%	17.14%	16.8%	17.45%	17.45%	16.49%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	34.64M	126.5M	40.16M	54.34M	-18.51M	60.04M	62.86M	63.13M	63.49M	0
Operating Income+	178.75M	113.03M	243.63M	257.38M	389.68M	343.04M	343.5M	340.57M	366.49M	338.25M
Operating Margin %	11.34%	6.78%	13.67%	13.28%	18.74%	16.04%	16.09%	15.04%	15.07%	13.37%
Operating Income Growth %	-3.09%	-36.76%	115.54%	5.64%	51.4%	-11.97%	0.13%	-0.85%	7.61%	-7.71%
EBITDA+	213.39M	148.66M	282.5M	302.58M	446.26M	402.09M	402.67M	401.43M	429.54M	338.25M
EBITDA Margin %	13.53%	8.92%	15.85%	15.61%	21.46%	18.8%	18.86%	17.73%	17.67%	13.37%
EBITDA Growth %	-2.1%	-30.33%	90.03%	7.11%	47.48%	-9.9%	0.14%	-0.31%	7%	-21.25%
D&A (Non-Cash Add-back)	34.64M	35.63M	38.86M	45.2M	56.58M	59.05M	59.17M	60.87M	63.05M	0
EBIT	180.77M	121.19M	244.59M	266.14M	398.35M	352.18M	334.26M	353.48M	401.25M	0
Net Interest Income+	-3.33M	-3.85M	-4.32M	-4.02M	-1.6M	-1.49M	-4.23M	3.16M	12.83M	0
Interest Income	383K	427K	671K	513K	757K	377K	355K	6.27M	14.61M	8.74M
Interest Expense	3.71M	4.27M	4.99M	4.54M	2.35M	1.87M	4.58M	3.11M	1.78M	-1.75M
Other Income/Expense	-1.7M	3.88M	-4.03M	4.23M	6.31M	7.28M	-13.82M	9.8M	32.97M	17.53M
Pretax Income+	177.05M	116.92M	239.6M	261.61M	395.99M	350.31M	329.68M	350.37M	399.46M	355.78M
Pretax Margin %	11.23%	7.01%	13.44%	13.5%	19.04%	16.38%	15.44%	15.47%	16.43%	14.06%
Income Tax+	68.31M	18.74M	34.06M	41.69M	76.52M	81.76M	80.06M	77.86M	97.47M	90.54M
Effective Tax Rate %	61.42%	83.97%	85.79%	84.07%	80.68%	76.66%	75.72%	77.78%	75.6%	74.55%
Net Income+	108.74M	98.18M	205.54M	219.92M	319.47M	268.55M	249.62M	272.51M	302M	265.24M
Net Margin %	6.9%	5.89%	11.53%	11.34%	15.36%	12.55%	11.69%	12.03%	12.42%	10.48%
Net Income Growth %	-1.39%	-9.72%	109.36%	7%	45.26%	-15.94%	-7.05%	9.17%	10.82%	-12.17%
Net Income (Continuing)	108.74M	98.18M	205.54M	219.92M	319.47M	268.55M	249.62M	272.51M	302M	265.24M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	6.48	5.86	12.23	13.31	19.48	16.85	16.53	17.93	19.89	18.42
EPS Growth %	2.37%	-9.57%	108.7%	8.83%	46.36%	-13.5%	-1.9%	8.47%	10.93%	-7.39%
EPS (Basic)	6.64	6.11	12.80	13.77	20.02	17.14	16.72	18.11	20.10	18.42
Diluted Shares Outstanding	16.79M	16.74M	16.8M	16.53M	16.4M	15.94M	15.1M	15.2M	15.19M	14.4M
Basic Shares Outstanding	16.38M	16.06M	16.06M	15.97M	15.96M	15.67M	14.93M	15.05M	15.02M	14.4M
Dividend Payout Ratio	15.12%	17.69%	9.08%	9%	6.6%	8.2%	8.82%	8.62%	8.97%	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	169.9M	176.05M	159.84M	190.67M	329.4M	230.29M	272.61M	500.84M	394.75M	302.62M
Cash & Short-Term Investments	15.31M	11.12M	4.83M	6.16M	162.68M	32.9M	74.13M	263.96M	178.35M	74.52M
Cash Only	15.31M	11.12M	4.83M	6.16M	162.68M	32.9M	74.13M	263.96M	178.35M	74.52M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	132.02M	113.65M	119.5M	143.83M	126.85M	137.22M	139.41M	181.51M	171.16M	182.57M
Days Sales Outstanding	30.56	24.89	24.47	27.08	22.26	23.41	23.83	29.26	25.7	26.34
Inventory	5.75M	5.33M	5.71M	7.46M	7.09M	10.11M	10.27M	12M	8.19M	7.54M
Days Inventory Outstanding	1.88	1.69	1.7	2.06	1.88	2.69	2.74	2.99	1.9	-
Other Current Assets	0	0	0	0	0	0	0	0	0	37.98M
Total Non-Current Assets+	710.16M	743.98M	815.69M	1.08B	1.11B	1.11B	1.17B	1.17B	1.27B	1.24B
Property, Plant & Equipment	121.3M	143.03M	162.03M	287.42M	311.27M	318.73M	335.38M	330.23M	328.16M	131.15M
Fixed Asset Turnover	13.00x	11.65x	11.00x	6.74x	6.68x	6.71x	6.37x	6.86x	7.41x	19.29x
Goodwill	472.37M	476.89M	510.57M	577.37M	578.59M	578.59M	581.29M	585.02M	666.74M	667M
Intangible Assets	55.06M	54.87M	68.25M	126.37M	118.08M	108.1M	99.73M	90.26M	92.21M	82.76M
Long-Term Investments	54.39M	62.07M	65.62M	77.45M	88.81M	98.88M	0	0	0	140.35M
Other Non-Current Assets	7.04M	7.13M	9.21M	9.05M	8.76M	8.14M	153M	161.74M	186.72M	214.31M
Total Assets+	880.06M	920.03M	975.53M	1.27B	1.43B	1.34B	1.44B	1.67B	1.67B	1.54B
Asset Turnover	1.79x	1.81x	1.83x	1.53x	1.45x	1.59x	1.48x	1.36x	1.46x	1.64x
Asset Growth %	3.25%	4.54%	6.03%	30.01%	13.13%	-6.42%	7.39%	15.68%	0.03%	-7.81%
Total Current Liabilities+	171.83M	193.52M	191.67M	262.22M	299.11M	302.4M	297.2M	312.05M	285.69M	287.13M
Accounts Payable	39.59M	48.37M	50.15M	51.1M	54.23M	73.02M	41.88M	64.03M	44.15M	64.46M
Days Payables Outstanding	12.95	15.35	14.91	14.12	14.36	19.46	11.16	15.95	10.22	-
Short-Term Debt	8.75M	10M	0	0	0	0	5M	15.7M	0	40.89M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	73.73M	86.4M	93.57M	114.44M	133.88M	134.63M	145.84M	121.87M	134.75M	181.78M
Current Ratio	0.99x	0.91x	0.83x	0.73x	1.10x	0.76x	0.92x	1.61x	1.38x	1.05x
Quick Ratio	0.96x	0.88x	0.80x	0.70x	1.08x	0.73x	0.88x	1.57x	1.35x	1.03x
Cash Conversion Cycle	19.49	11.24	11.25	15.02	9.78	6.64	15.41	16.3	17.37	-
Total Non-Current Liabilities+	184.13M	186.15M	192.53M	279.49M	234.6M	417.05M	346.09M	248.17M	263.89M	271.65M
Long-Term Debt	100M	91.2M	89.2M	90M	0	185M	92.5M	0	0	102.87M
Capital Lease Obligations	-54.29M	-61.8M	0	86.66M	99.21M	100.63M	110.51M	100.78M	98.54M	0
Deferred Tax Liabilities	14.29M	16.64M	21.6M	18.5M	20.66M	23.18M	38.61M	30.32M	25.95M	19.31M
Other Non-Current Liabilities	69.84M	78.31M	81.73M	84.33M	114.73M	108.24M	104.47M	117.07M	139.4M	149.47M
Total Liabilities	355.96M	379.67M	384.19M	541.71M	533.71M	719.45M	643.3M	560.22M	549.58M	558.78M
Total Debt+	108.75M	101.2M	89.2M	215.94M	135.41M	323.54M	247.01M	155.11M	140.84M	143.76M
Net Debt	93.44M	90.08M	84.37M	209.78M	-27.27M	290.65M	172.88M	-108.85M	-37.51M	69.24M
Debt / Equity	0.21x	0.19x	0.15x	0.30x	0.15x	0.52x	0.31x	0.14x	0.13x	0.15x
Debt / EBITDA	0.51x	0.68x	0.32x	0.71x	0.30x	0.80x	0.61x	0.39x	0.33x	0.43x
Net Debt / EBITDA	0.44x	0.61x	0.30x	0.69x	-0.06x	0.72x	0.43x	-0.27x	-0.09x	0.20x
Interest Coverage	48.12x	26.46x	48.82x	56.75x	165.47x	183.64x	74.93x	109.58x	205.89x	-
Total Equity+	524.1M	540.35M	591.33M	726.61M	901.2M	623.27M	798.72M	1.11B	1.12B	979.4M
Equity Growth %	2.11%	3.1%	9.43%	22.88%	24.03%	-30.84%	28.15%	38.71%	1%	-12.47%
Book Value per Share	31.22	32.28	35.19	43.96	54.96	39.11	52.90	72.89	73.69	68.02
Total Shareholders' Equity	524.1M	540.35M	591.33M	726.61M	901.2M	623.27M	798.72M	1.11B	1.12B	979.4M
Common Stock	34.27M	34.73M	35.31M	35.81M	36.26M	36.51M	36.8M	37.18M	37.42M	0
Retained Earnings	958.15M	1.04B	1.23B	1.43B	1.72B	1.97B	2.2B	2.45B	2.72B	979.4M
Treasury Stock	-1.11B	-1.23B	-1.45B	-1.6B	-1.82B	-2.43B	-2.59B	-2.72B	-3.13B	0
Accumulated OCI	2.51M	2.2M	2.34M	2.31M	2.34M	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	135.39M	162.5M	287.14M	301.25M	489.29M	308.6M	309.89M	330.3M	417.5M	388.27M
Operating CF Margin %	8.59%	9.75%	16.11%	15.54%	23.53%	14.43%	14.51%	14.59%	17.17%	15.35%
Operating CF Growth %	-21.05%	20.02%	76.71%	4.91%	62.42%	-36.93%	0.42%	6.59%	26.4%	-7%
Net Income	108.74M	98.18M	205.54M	219.92M	319.47M	268.55M	249.62M	272.51M	302M	265.24M
Depreciation & Amortization	34.64M	35.63M	38.86M	45.2M	56.58M	59.05M	59.17M	60.87M	63.05M	64.84M
Stock-Based Compensation	1.85M	1.23M	446K	14.83M	18.42M	22.5M	26.25M	30.08M	32.03M	4.89M
Deferred Taxes	-6.71M	2.41M	5.19M	-2.77M	37.78M	-15.78M	-3.35M	-8.03M	-4.14M	-5.94M
Other Non-Cash Items	13.71M	29.05M	7.33M	16.48M	12.61M	1.07M	11.67M	14.18M	16.42M	59.25M
Working Capital Changes	-25.18M	-14.48M	17.15M	7.58M	44.43M	-26.8M	-33.49M	-39.31M	8.13M	0
Change in Receivables	-42.14M	1.07M	-5.57M	-19.25M	12.77M	-8.43M	-2.41M	-41.49M	10.68M	-11.6M
Change in Inventory	559K	421K	-351K	-1.76M	367K	-3.01M	-162K	-1.73M	3.83M	650K
Change in Payables	891K	12.89M	8.94M	28.42M	19.1M	9.83M	15.34M	-9.35M	-9.28M	0
Cash from Investing+	-39.86M	-67.61M	-105.22M	-190.76M	-61.56M	-57.76M	-59.4M	-60.64M	-143.91M	-59.34M
Capital Expenditures	-39.77M	-64.3M	-52.87M	-53.02M	-58.83M	-58.67M	-57.33M	-56.85M	-49.53M	-62.8M
CapEx % of Revenue	2.52%	3.86%	2.97%	2.74%	2.83%	2.74%	2.69%	2.51%	2.04%	2.48%
Acquisitions	0	-4.72M	-53.18M	-138.01M	-3.6M	0	-3.53M	-3.99M	-97.4M	-225K
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-90K	1.42M	824K	272K	871K	918K	1.45M	206K	3.02M	3.68M
Cash from Financing+	-94.95M	-99.08M	-188.2M	-109.16M	-271.21M	-380.62M	-209.25M	-79.83M	-359.19M	-432.77M
Debt Issued (Net)	16.76M	-850K	-13.53M	800K	-90M	196.88M	-99.38M	-81.75M	-15.75M	0
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	-16.44M	-17.37M	-18.66M	-19.79M	-21.08M	-22.02M	-22.02M	-23.5M	-27.09M	-31.7M
Share Repurchases	-102.31M	-94.64M	-158.88M	-92.63M	-175.59M	-576.04M	-114.52M	-67.7M	-361.39M	-431.5M
Other Financing	7.04M	13.79M	2.87M	2.46M	15.46M	20.55M	26.66M	93.13M	45.04M	-401.07M
Net Change in Cash	583K	-4.19M	-6.29M	1.33M	156.52M	-129.78M	41.23M	189.83M	-85.61M	-103.83M
Free Cash Flow+	95.62M	98.19M	234.27M	248.23M	430.46M	249.92M	252.56M	273.44M	367.97M	325.48M
FCF Margin %	6.06%	5.89%	13.14%	12.8%	20.7%	11.68%	11.83%	12.08%	15.13%	12.86%
FCF Growth %	-24.92%	2.69%	138.57%	5.96%	73.41%	-41.94%	1.06%	8.27%	34.57%	-11.55%
FCF per Share	5.70	5.87	13.94	15.02	26.25	15.68	16.73	17.99	24.23	22.61
FCF Conversion (FCF/Net Income)	1.25x	1.66x	1.40x	1.37x	1.53x	1.15x	1.24x	1.21x	1.38x	1.46x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	20.97%	18.45%	36.33%	33.37%	39.25%	35.23%	35.11%	28.59%	27.12%	25.28%
Return on Invested Capital (ROIC)	22.21%	13.59%	27.98%	23.95%	32.29%	28.78%	27.33%	25.92%	26.42%	23.82%
Gross Margin	29.26%	30.97%	31.13%	31.85%	33.73%	35.98%	35.84%	35.28%	35.14%	-
Net Margin	6.9%	5.89%	11.53%	11.34%	15.36%	12.55%	11.69%	12.03%	12.42%	10.48%
Debt / Equity	0.21x	0.19x	0.15x	0.30x	0.15x	0.52x	0.31x	0.14x	0.13x	0.15x
Interest Coverage	48.12x	26.46x	48.82x	56.75x	165.47x	183.64x	74.93x	109.58x	205.89x	-
FCF Conversion	1.25x	1.66x	1.40x	1.37x	1.53x	1.15x	1.24x	1.21x	1.38x	1.46x
Revenue Growth	2.17%	5.7%	6.96%	8.75%	7.27%	2.87%	-0.2%	6.06%	7.37%	4.06%

Chemed Corporation (CHE) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

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Financial Ratios

Chemed Corporation (CHE) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare CHE vs Peers

vs OPCH

vs ADUS

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

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Deep Dive Analysis

Valuation Overview

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Dividend History

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Financial Ratios