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

OPCH •

HealthcareHealthcare FacilitiesHome-based care 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 $5.65B +13.0%
EBITDA $404M +4.9%
Net Income $208M -2.0%
EPS (Diluted) 1.28 +4.1%
Gross Margin 19.26% -5.0%
EBITDA Margin 7.15% -7.2%
Operating Margin 5.98% -7.1%
Net Margin 3.67% -13.3%
ROE 15.2% +1.4%
ROIC 15.34% +41.6%
Debt/Equity -
Interest Coverage 2.70 -49.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.3%
✓Good 3Y average ROE of 16.4%
✓Share count reduced 7.5% through buybacks
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.12%

5Y13.25%

3Y12.72%

TTM13.03%

Profit (Net Income) CAGR

10Y-

5Y-

3Y11.3%

TTM-2%

EPS CAGR

10Y-

5Y-

3Y15.53%

TTM4.92%

ROCE

10Y Avg4.52%

5Y Avg10.77%

3Y Avg12.19%

Latest12.83%

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+	935.59M	817.19M	1.94B	2.31B	3.03B	3.44B	3.94B	4.3B	5B	5.65B
Revenue Growth %	-4.75%	-12.65%	137.37%	19.11%	31.26%	13.39%	14.72%	9.06%	16.17%	13.03%
Cost of Goods Sold+	673.51M	547.95M	1.52B	1.8B	2.35B	2.66B	3.08B	3.32B	3.99B	4.56B
COGS % of Revenue	71.99%	67.05%	78.23%	77.8%	77.5%	77.33%	78.02%	77.19%	79.73%	80.74%
Gross Profit+	262.08M	269.24M	422.21M	513M	682.26M	779.61M	866.92M	981.22M	1.01B	1.09B
Gross Margin %	28.01%	32.95%	21.77%	22.2%	22.5%	22.67%	21.98%	22.81%	20.27%	19.26%
Gross Profit Growth %	0.82%	2.73%	56.82%	21.5%	33%	14.27%	11.2%	13.19%	3.24%	7.39%
Operating Expenses+	298.25M	332.55M	383.95M	513.32M	571.51M	588.76M	626.69M	666.63M	691.16M	749.99M
OpEx % of Revenue	31.88%	40.69%	19.79%	22.22%	18.85%	17.12%	15.89%	15.49%	13.83%	13.28%
Selling, General & Admin	38.8M	39.63M	345.88M	459.63M	500.2M	525.71M	566.12M	607.43M	630.25M	682.45M
SG&A % of Revenue	4.15%	4.85%	17.83%	19.89%	16.49%	15.29%	14.35%	14.12%	12.61%	12.08%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	259.46M	292.92M	38.06M	53.69M	71.31M	63.06M	60.56M	59.2M	60.91M	67.54M
Operating Income+	-36.17M	-63.3M	38.27M	-319K	110.75M	190.84M	240.23M	314.6M	321.83M	337.91M
Operating Margin %	-3.87%	-7.75%	1.97%	-0.01%	3.65%	5.55%	6.09%	7.31%	6.44%	5.98%
Operating Income Growth %	87.42%	-75.01%	160.45%	-100.83%	34819.44%	72.31%	25.88%	30.96%	2.3%	4.99%
EBITDA+	-14.15M	-35.58M	79.32M	57.55M	188.65M	259.64M	305.67M	376.8M	385.33M	404.11M
EBITDA Margin %	-1.51%	-4.35%	4.09%	2.49%	6.22%	7.55%	7.75%	8.76%	7.71%	7.15%
EBITDA Growth %	94.66%	-151.49%	322.96%	-27.45%	227.8%	37.63%	17.72%	23.27%	2.27%	4.87%
D&A (Non-Cash Add-back)	22.02M	27.73M	41.05M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M	66.2M
EBIT	31.48M	38.62M	37.06M	-4.47M	102.53M	183.5M	259.57M	409.99M	332.63M	408.25M
Net Interest Income+	-37.57M	-52.07M	-46.12M	-73.39M	-91.19M	-55.46M	-54.9M	-62.22M	-60.56M	-125.36M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	37.57M	52.07M	46.12M	73.39M	91.19M	55.46M	54.9M	62.22M	60.56M	125.36M
Other Income/Expense	2.02M	-4.13M	-47.04M	-77.88M	-116M	-74.35M	-34.46M	44.15M	-38.23M	-55.01M
Pretax Income+	-34.16M	-67.43M	-8.77M	-78.19M	-5.24M	116.49M	205.77M	358.74M	283.6M	282.9M
Pretax Margin %	-3.65%	-8.25%	-0.45%	-3.38%	-0.17%	3.39%	5.22%	8.34%	5.67%	5.01%
Income Tax+	2.02M	-4.13M	-2.65M	-2.27M	2.83M	-23.4M	55.21M	91.65M	71.78M	75.31M
Effective Tax Rate %	125.2%	95.2%	69.74%	97.09%	154.03%	120.09%	73.17%	74.45%	74.69%	73.38%
Net Income+	-42.77M	-64.2M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M	207.59M
Net Margin %	-4.57%	-7.86%	-0.32%	-3.29%	-0.27%	4.07%	3.82%	6.21%	4.24%	3.67%
Net Income Growth %	85.75%	-50.11%	90.47%	-1141.54%	89.36%	1832.27%	7.62%	77.4%	-20.69%	-2%
Net Income (Continuing)	-36.17M	-63.3M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M	207.59M
Discontinued Operations	-6.59M	-893K	-101K	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.77	-2.02	-1.62	-0.49	-0.04	0.77	0.83	1.48	1.23	1.28
EPS Growth %	89.86%	-14.12%	19.8%	69.75%	90.9%	1826.46%	7.79%	78.31%	-16.89%	4.06%
EPS (Basic)	-1.77	-2.02	-1.62	-0.49	-0.04	0.78	0.83	1.49	1.23	1.28
Diluted Shares Outstanding	23.43M	30.95M	31.99M	156.28M	180.97M	181.21M	182.07M	180.38M	172.84M	159.83M
Basic Shares Outstanding	23.43M	30.95M	31.99M	156.28M	180.97M	179.85M	181.1M	178.97M	171.57M	158.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

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+	176.05M	189.32M	174.71M	558.65M	657.01M	710.26M	994.34M	1.09B	1.32B	1.26B
Cash & Short-Term Investments	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M	232.62M
Cash Only	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M	232.62M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	109.09M	85.52M	114.86M	324.42M	330.74M	338.24M	383.14M	430.16M	409.73M	473.57M
Days Sales Outstanding	42.56	38.2	21.61	51.25	39.81	35.9	35.45	36.49	29.92	30.6
Inventory	36.16M	37.27M	26.69M	115.88M	158.6M	183.09M	224.28M	274M	388.13M	471.15M
Days Inventory Outstanding	19.6	24.83	6.42	23.53	24.63	25.13	26.6	30.11	35.55	37.7
Other Current Assets	18.51M	4.95M	4.32M	13.9M	68.41M	69.5M	92.73M	46.24M	112.2M	87.63M
Total Non-Current Assets+	431.69M	416.56M	409.23M	2.03B	2.12B	2.22B	2.24B	2.23B	2.1B	2.19B
Property, Plant & Equipment	32.53M	27.57M	28.79M	133.2M	189.94M	186.31M	180.75M	204.79M	213.9M	139.24M
Fixed Asset Turnover	28.76x	29.64x	67.38x	17.35x	15.97x	18.46x	21.82x	21.01x	23.37x	40.58x
Goodwill	365.95M	367.2M	367.2M	1.43B	1.43B	1.48B	1.53B	1.54B	1.54B	1.61B
Intangible Assets	31.04M	19.5M	10.47M	385.91M	351.05M	366.02M	364.12M	335.4M	16.99M	21.9M
Long-Term Investments	0	0	14.6M	-2.14M	17M	20.1M	36.74M	31.08M	31.18M	0
Other Non-Current Assets	2.16M	2.29M	-12.86M	86.24M	3.82M	3.63M	3.57M	11.27M	296.8M	422.93M
Total Assets+	607.74M	605.88M	583.94M	2.59B	2.77B	2.93B	3.23B	3.33B	3.42B	3.46B
Asset Turnover	1.54x	1.35x	3.32x	0.89x	1.09x	1.18x	1.22x	1.29x	1.46x	1.63x
Asset Growth %	11.2%	-0.31%	-3.62%	343.46%	7.07%	5.52%	10.48%	2.97%	2.81%	0.99%
Total Current Liabilities+	130.35M	105.47M	107.32M	330M	434.02M	459.69M	565.35M	618.31M	780.15M	829.35M
Accounts Payable	64.42M	65.96M	67.03M	221.06M	282.91M	279.25M	378.76M	426.51M	610.78M	639.83M
Days Payables Outstanding	34.91	43.94	16.12	44.89	43.94	38.33	44.92	46.88	55.94	51.2
Short-Term Debt	18.52M	1.72M	3.18M	29.64M	28.14M	25.09M	25.38M	24.28M	6.51M	0
Deferred Revenue (Current)	0	8.86M	0	2.14M	0	0	0	0	0	0
Other Current Liabilities	0	0	0	23.23M	64.08M	71.86M	84.3M	75.01M	140.81M	189.52M
Current Ratio	1.35x	1.79x	1.63x	1.69x	1.51x	1.55x	1.76x	1.77x	1.70x	1.53x
Quick Ratio	1.07x	1.44x	1.38x	1.34x	1.15x	1.15x	1.36x	1.33x	1.20x	0.96x
Cash Conversion Cycle	27.25	19.09	11.91	29.89	20.5	22.7	17.13	19.73	9.53	17.1
Total Non-Current Liabilities+	508.95M	581.51M	620.63M	1.35B	1.32B	1.29B	1.28B	1.29B	1.24B	1.3B
Long-Term Debt	433.41M	478.87M	501.5M	1.28B	1.12B	1.06B	1.06B	1.06B	1.1B	0
Capital Lease Obligations	494K	0	0	58.24M	70.78M	74.49M	71.44M	85.48M	84.78M	0
Deferred Tax Liabilities	2.28M	0	67.84M	2.14M	128.56M	134.72M	141.6M	146.24M	47.58M	0
Other Non-Current Liabilities	1.26M	102.65M	119.13M	17.23M	8.47M	20.94M	9.68M	0	366K	1.3B
Total Liabilities	639.3M	686.99M	727.94M	1.68B	1.76B	1.75B	1.85B	1.91B	2.02B	2.13B
Total Debt+	451.93M	480.59M	504.67M	1.39B	1.21B	1.16B	1.16B	1.17B	1.22B	0
Net Debt	442.37M	441.13M	490.13M	1.32B	1.11B	1.04B	860.84M	822.56M	805.41M	-232.62M
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	-0.58x
Interest Coverage	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x	2.70x
Total Equity+	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B	1.33B
Equity Growth %	60.97%	-156.96%	-77.56%	729.72%	12.01%	15.77%	17.88%	2.57%	-1.23%	-5.54%
Book Value per Share	-1.35	-2.62	-4.50	5.80	5.61	6.49	7.61	7.88	8.12	8.30
Total Shareholders' Equity	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B	1.33B
Common Stock	12K	13K	13K	18K	18K	18K	18K	18K	18K	0
Retained Earnings	-643.42M	-706.02M	-761.2M	-91.95M	-100.03M	39.87M	190.42M	457.51M	669.34M	0
Treasury Stock	0	0	-950K	-2.4M	-2.4M	-2.4M	-2.4M	-255.11M	-507.6M	0
Accumulated OCI	-75.09M	-88.3M	1M	-7.2M	-11.17M	-451K	21.16M	14.98M	11.05M	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+	-35.2M	-1.05M	-20.1M	39.47M	127.39M	208.57M	267.55M	371.3M	323.39M	258.45M
Operating CF Margin %	-3.76%	-0.13%	-1.04%	1.71%	4.2%	6.07%	6.78%	8.63%	6.47%	4.57%
Operating CF Growth %	45.63%	97.01%	-1811.03%	296.31%	222.78%	63.72%	28.28%	38.78%	-12.9%	-20.08%
Net Income	-34.37M	-61.28M	-51.59M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M	207.59M
Depreciation & Amortization	21.55M	26.31M	23.6M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M	70.69M
Stock-Based Compensation	1.96M	2.36M	4.17M	4.17M	2.92M	9.57M	16.78M	30.48M	36.14M	6.29M
Deferred Taxes	2.04M	-3.15M	66K	-4.61M	1.2M	-30.37M	49.19M	12.77M	12.66M	0
Other Non-Cash Items	-14.96M	17.01M	20.35M	19.38M	46.33M	32.03M	15.36M	20.2M	19.52M	91.51M
Working Capital Changes	-11.44M	17.71M	-16.71M	38.58M	7.13M	-11.37M	-29.78M	-21.45M	-20.25M	-117.63M
Change in Receivables	-2.5M	23.56M	-29.34M	82.28M	-3.92M	-4.27M	-36.89M	224K	-32.08M	-54.59M
Change in Inventory	10.02M	-1.77M	11.36M	-12.85M	-42.73M	-22.7M	-41.01M	-51M	-114.13M	-81.47M
Change in Payables	-20.52M	-2.54M	1.06M	-30.86M	59.22M	-10.38M	98.89M	47.7M	183.4M	19.52M
Cash from Investing+	-72.98M	-13.34M	-13.52M	-727.83M	-26.33M	-111.54M	-108.05M	-56.51M	-36.47M	-161.08M
Capital Expenditures	-9.64M	-8.39M	-13.88M	-28.29M	-26.88M	-25.63M	-35.36M	-41.87M	0	0
CapEx % of Revenue	1.03%	1.03%	0.72%	1.22%	0.89%	0.75%	0.9%	0.97%	0.71%	-
Acquisitions	-63.34M	0	360K	-700.17M	0	-85.91M	-87.36M	-12.49M	0	-117.25M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-63.34M	-4.95M	360K	636K	541K	0	14.67M	-2.15M	-36.47M	-43.84M
Cash from Financing+	109.74M	44.28M	8.07M	719.02M	-68.85M	-76.87M	15.27M	-265.13M	-218.21M	-277.31M
Debt Issued (Net)	26.68M	23.38M	-4.15M	752.24M	-183.25M	-76.84M	-6M	-6M	43.58M	0
Equity Issued (Net)	1000K	1000K	0	0	1000K	-32K	0	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	-2M	0	0	0	0	0	0
Share Repurchases	0	0	0	-2.5M	0	-32K	0	-250.26M	-252.73M	-309.95M
Other Financing	-202K	120K	0	-31.21M	-4.53M	0	21.27M	-8.87M	-9.05M	32.65M
Net Change in Cash	-6.01M	29.89M	-25.55M	30.66M	32.21M	20.16M	174.76M	49.66M	68.72M	-179.94M
Free Cash Flow+	-44.84M	-9.44M	-33.98M	11.18M	100.52M	182.94M	232.19M	329.43M	287.79M	258.45M
FCF Margin %	-4.79%	-1.16%	-1.75%	0.48%	3.31%	5.32%	5.89%	7.66%	5.76%	4.57%
FCF Growth %	41.21%	78.95%	-259.87%	132.89%	799.48%	82%	26.92%	41.88%	-12.64%	-10.19%
FCF per Share	-1.91	-0.31	-1.06	0.07	0.56	1.01	1.28	1.83	1.66	1.62
FCF Conversion (FCF/Net Income)	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x	1.25x
Interest Paid	34.7M	45.38M	47.17M	50.81M	97.64M	60.92M	50.37M	69.8M	71.55M	0
Taxes Paid	372K	649K	1.6M	2.4M	2.88M	5.71M	13.44M	75.24M	64.52M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-	-19.91%	-0.84%	12.77%	11.75%	19.02%	14.99%	15.2%
Return on Invested Capital (ROIC)	-7.25%	-12.32%	8.13%	-0.02%	3.81%	6.59%	8.07%	10.51%	10.84%	15.34%
Gross Margin	28.01%	32.95%	21.77%	22.2%	22.5%	22.67%	21.98%	22.81%	20.27%	19.26%
Net Margin	-4.57%	-7.86%	-0.32%	-3.29%	-0.27%	4.07%	3.82%	6.21%	4.24%	3.67%
Debt / Equity	-	-	-	1.53x	1.20x	0.99x	0.83x	0.82x	0.87x	-
Interest Coverage	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x	2.70x
FCF Conversion	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x	1.25x
Revenue Growth	-4.75%	-12.65%	137.37%	19.11%	31.26%	13.39%	14.72%	9.06%	16.17%	13.03%

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

OPCH •

HealthcareHealthcare FacilitiesHome-based care services

Revenue $5.65B +13.0%
EBITDA $404M +4.9%
Net Income $208M -2.0%
EPS (Diluted) 1.28 +4.1%
Gross Margin 19.26% -5.0%
EBITDA Margin 7.15% -7.2%
Operating Margin 5.98% -7.1%
Net Margin 3.67% -13.3%
ROE 15.2% +1.4%
ROIC 15.34% +41.6%
Debt/Equity -
Interest Coverage 2.70 -49.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.3%
✓Good 3Y average ROE of 16.4%
✓Share count reduced 7.5% through buybacks
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.12%

5Y13.25%

3Y12.72%

TTM13.03%

Profit (Net Income) CAGR

10Y-

5Y-

3Y11.3%

TTM-2%

EPS CAGR

10Y-

5Y-

3Y15.53%

TTM4.92%

ROCE

10Y Avg4.52%

5Y Avg10.77%

3Y Avg12.19%

Latest12.83%

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+	935.59M	817.19M	1.94B	2.31B	3.03B	3.44B	3.94B	4.3B	5B	5.65B
Revenue Growth %	-4.75%	-12.65%	137.37%	19.11%	31.26%	13.39%	14.72%	9.06%	16.17%	13.03%
Cost of Goods Sold+	673.51M	547.95M	1.52B	1.8B	2.35B	2.66B	3.08B	3.32B	3.99B	4.56B
COGS % of Revenue	71.99%	67.05%	78.23%	77.8%	77.5%	77.33%	78.02%	77.19%	79.73%	80.74%
Gross Profit+	262.08M	269.24M	422.21M	513M	682.26M	779.61M	866.92M	981.22M	1.01B	1.09B
Gross Margin %	28.01%	32.95%	21.77%	22.2%	22.5%	22.67%	21.98%	22.81%	20.27%	19.26%
Gross Profit Growth %	0.82%	2.73%	56.82%	21.5%	33%	14.27%	11.2%	13.19%	3.24%	7.39%
Operating Expenses+	298.25M	332.55M	383.95M	513.32M	571.51M	588.76M	626.69M	666.63M	691.16M	749.99M
OpEx % of Revenue	31.88%	40.69%	19.79%	22.22%	18.85%	17.12%	15.89%	15.49%	13.83%	13.28%
Selling, General & Admin	38.8M	39.63M	345.88M	459.63M	500.2M	525.71M	566.12M	607.43M	630.25M	682.45M
SG&A % of Revenue	4.15%	4.85%	17.83%	19.89%	16.49%	15.29%	14.35%	14.12%	12.61%	12.08%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	259.46M	292.92M	38.06M	53.69M	71.31M	63.06M	60.56M	59.2M	60.91M	67.54M
Operating Income+	-36.17M	-63.3M	38.27M	-319K	110.75M	190.84M	240.23M	314.6M	321.83M	337.91M
Operating Margin %	-3.87%	-7.75%	1.97%	-0.01%	3.65%	5.55%	6.09%	7.31%	6.44%	5.98%
Operating Income Growth %	87.42%	-75.01%	160.45%	-100.83%	34819.44%	72.31%	25.88%	30.96%	2.3%	4.99%
EBITDA+	-14.15M	-35.58M	79.32M	57.55M	188.65M	259.64M	305.67M	376.8M	385.33M	404.11M
EBITDA Margin %	-1.51%	-4.35%	4.09%	2.49%	6.22%	7.55%	7.75%	8.76%	7.71%	7.15%
EBITDA Growth %	94.66%	-151.49%	322.96%	-27.45%	227.8%	37.63%	17.72%	23.27%	2.27%	4.87%
D&A (Non-Cash Add-back)	22.02M	27.73M	41.05M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M	66.2M
EBIT	31.48M	38.62M	37.06M	-4.47M	102.53M	183.5M	259.57M	409.99M	332.63M	408.25M
Net Interest Income+	-37.57M	-52.07M	-46.12M	-73.39M	-91.19M	-55.46M	-54.9M	-62.22M	-60.56M	-125.36M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	37.57M	52.07M	46.12M	73.39M	91.19M	55.46M	54.9M	62.22M	60.56M	125.36M
Other Income/Expense	2.02M	-4.13M	-47.04M	-77.88M	-116M	-74.35M	-34.46M	44.15M	-38.23M	-55.01M
Pretax Income+	-34.16M	-67.43M	-8.77M	-78.19M	-5.24M	116.49M	205.77M	358.74M	283.6M	282.9M
Pretax Margin %	-3.65%	-8.25%	-0.45%	-3.38%	-0.17%	3.39%	5.22%	8.34%	5.67%	5.01%
Income Tax+	2.02M	-4.13M	-2.65M	-2.27M	2.83M	-23.4M	55.21M	91.65M	71.78M	75.31M
Effective Tax Rate %	125.2%	95.2%	69.74%	97.09%	154.03%	120.09%	73.17%	74.45%	74.69%	73.38%
Net Income+	-42.77M	-64.2M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M	207.59M
Net Margin %	-4.57%	-7.86%	-0.32%	-3.29%	-0.27%	4.07%	3.82%	6.21%	4.24%	3.67%
Net Income Growth %	85.75%	-50.11%	90.47%	-1141.54%	89.36%	1832.27%	7.62%	77.4%	-20.69%	-2%
Net Income (Continuing)	-36.17M	-63.3M	-6.12M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M	207.59M
Discontinued Operations	-6.59M	-893K	-101K	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.77	-2.02	-1.62	-0.49	-0.04	0.77	0.83	1.48	1.23	1.28
EPS Growth %	89.86%	-14.12%	19.8%	69.75%	90.9%	1826.46%	7.79%	78.31%	-16.89%	4.06%
EPS (Basic)	-1.77	-2.02	-1.62	-0.49	-0.04	0.78	0.83	1.49	1.23	1.28
Diluted Shares Outstanding	23.43M	30.95M	31.99M	156.28M	180.97M	181.21M	182.07M	180.38M	172.84M	159.83M
Basic Shares Outstanding	23.43M	30.95M	31.99M	156.28M	180.97M	179.85M	181.1M	178.97M	171.57M	158.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

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+	176.05M	189.32M	174.71M	558.65M	657.01M	710.26M	994.34M	1.09B	1.32B	1.26B
Cash & Short-Term Investments	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M	232.62M
Cash Only	9.57M	39.46M	14.54M	67.06M	99.27M	119.42M	294.19M	343.85M	412.56M	232.62M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	109.09M	85.52M	114.86M	324.42M	330.74M	338.24M	383.14M	430.16M	409.73M	473.57M
Days Sales Outstanding	42.56	38.2	21.61	51.25	39.81	35.9	35.45	36.49	29.92	30.6
Inventory	36.16M	37.27M	26.69M	115.88M	158.6M	183.09M	224.28M	274M	388.13M	471.15M
Days Inventory Outstanding	19.6	24.83	6.42	23.53	24.63	25.13	26.6	30.11	35.55	37.7
Other Current Assets	18.51M	4.95M	4.32M	13.9M	68.41M	69.5M	92.73M	46.24M	112.2M	87.63M
Total Non-Current Assets+	431.69M	416.56M	409.23M	2.03B	2.12B	2.22B	2.24B	2.23B	2.1B	2.19B
Property, Plant & Equipment	32.53M	27.57M	28.79M	133.2M	189.94M	186.31M	180.75M	204.79M	213.9M	139.24M
Fixed Asset Turnover	28.76x	29.64x	67.38x	17.35x	15.97x	18.46x	21.82x	21.01x	23.37x	40.58x
Goodwill	365.95M	367.2M	367.2M	1.43B	1.43B	1.48B	1.53B	1.54B	1.54B	1.61B
Intangible Assets	31.04M	19.5M	10.47M	385.91M	351.05M	366.02M	364.12M	335.4M	16.99M	21.9M
Long-Term Investments	0	0	14.6M	-2.14M	17M	20.1M	36.74M	31.08M	31.18M	0
Other Non-Current Assets	2.16M	2.29M	-12.86M	86.24M	3.82M	3.63M	3.57M	11.27M	296.8M	422.93M
Total Assets+	607.74M	605.88M	583.94M	2.59B	2.77B	2.93B	3.23B	3.33B	3.42B	3.46B
Asset Turnover	1.54x	1.35x	3.32x	0.89x	1.09x	1.18x	1.22x	1.29x	1.46x	1.63x
Asset Growth %	11.2%	-0.31%	-3.62%	343.46%	7.07%	5.52%	10.48%	2.97%	2.81%	0.99%
Total Current Liabilities+	130.35M	105.47M	107.32M	330M	434.02M	459.69M	565.35M	618.31M	780.15M	829.35M
Accounts Payable	64.42M	65.96M	67.03M	221.06M	282.91M	279.25M	378.76M	426.51M	610.78M	639.83M
Days Payables Outstanding	34.91	43.94	16.12	44.89	43.94	38.33	44.92	46.88	55.94	51.2
Short-Term Debt	18.52M	1.72M	3.18M	29.64M	28.14M	25.09M	25.38M	24.28M	6.51M	0
Deferred Revenue (Current)	0	8.86M	0	2.14M	0	0	0	0	0	0
Other Current Liabilities	0	0	0	23.23M	64.08M	71.86M	84.3M	75.01M	140.81M	189.52M
Current Ratio	1.35x	1.79x	1.63x	1.69x	1.51x	1.55x	1.76x	1.77x	1.70x	1.53x
Quick Ratio	1.07x	1.44x	1.38x	1.34x	1.15x	1.15x	1.36x	1.33x	1.20x	0.96x
Cash Conversion Cycle	27.25	19.09	11.91	29.89	20.5	22.7	17.13	19.73	9.53	17.1
Total Non-Current Liabilities+	508.95M	581.51M	620.63M	1.35B	1.32B	1.29B	1.28B	1.29B	1.24B	1.3B
Long-Term Debt	433.41M	478.87M	501.5M	1.28B	1.12B	1.06B	1.06B	1.06B	1.1B	0
Capital Lease Obligations	494K	0	0	58.24M	70.78M	74.49M	71.44M	85.48M	84.78M	0
Deferred Tax Liabilities	2.28M	0	67.84M	2.14M	128.56M	134.72M	141.6M	146.24M	47.58M	0
Other Non-Current Liabilities	1.26M	102.65M	119.13M	17.23M	8.47M	20.94M	9.68M	0	366K	1.3B
Total Liabilities	639.3M	686.99M	727.94M	1.68B	1.76B	1.75B	1.85B	1.91B	2.02B	2.13B
Total Debt+	451.93M	480.59M	504.67M	1.39B	1.21B	1.16B	1.16B	1.17B	1.22B	0
Net Debt	442.37M	441.13M	490.13M	1.32B	1.11B	1.04B	860.84M	822.56M	805.41M	-232.62M
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	-0.58x
Interest Coverage	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x	2.70x
Total Equity+	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B	1.33B
Equity Growth %	60.97%	-156.96%	-77.56%	729.72%	12.01%	15.77%	17.88%	2.57%	-1.23%	-5.54%
Book Value per Share	-1.35	-2.62	-4.50	5.80	5.61	6.49	7.61	7.88	8.12	8.30
Total Shareholders' Equity	-31.56M	-81.1M	-144M	906.83M	1.02B	1.18B	1.39B	1.42B	1.4B	1.33B
Common Stock	12K	13K	13K	18K	18K	18K	18K	18K	18K	0
Retained Earnings	-643.42M	-706.02M	-761.2M	-91.95M	-100.03M	39.87M	190.42M	457.51M	669.34M	0
Treasury Stock	0	0	-950K	-2.4M	-2.4M	-2.4M	-2.4M	-255.11M	-507.6M	0
Accumulated OCI	-75.09M	-88.3M	1M	-7.2M	-11.17M	-451K	21.16M	14.98M	11.05M	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+	-35.2M	-1.05M	-20.1M	39.47M	127.39M	208.57M	267.55M	371.3M	323.39M	258.45M
Operating CF Margin %	-3.76%	-0.13%	-1.04%	1.71%	4.2%	6.07%	6.78%	8.63%	6.47%	4.57%
Operating CF Growth %	45.63%	97.01%	-1811.03%	296.31%	222.78%	63.72%	28.28%	38.78%	-12.9%	-20.08%
Net Income	-34.37M	-61.28M	-51.59M	-75.92M	-8.08M	139.9M	150.56M	267.09M	211.82M	207.59M
Depreciation & Amortization	21.55M	26.31M	23.6M	57.87M	77.9M	68.8M	65.43M	62.2M	63.5M	70.69M
Stock-Based Compensation	1.96M	2.36M	4.17M	4.17M	2.92M	9.57M	16.78M	30.48M	36.14M	6.29M
Deferred Taxes	2.04M	-3.15M	66K	-4.61M	1.2M	-30.37M	49.19M	12.77M	12.66M	0
Other Non-Cash Items	-14.96M	17.01M	20.35M	19.38M	46.33M	32.03M	15.36M	20.2M	19.52M	91.51M
Working Capital Changes	-11.44M	17.71M	-16.71M	38.58M	7.13M	-11.37M	-29.78M	-21.45M	-20.25M	-117.63M
Change in Receivables	-2.5M	23.56M	-29.34M	82.28M	-3.92M	-4.27M	-36.89M	224K	-32.08M	-54.59M
Change in Inventory	10.02M	-1.77M	11.36M	-12.85M	-42.73M	-22.7M	-41.01M	-51M	-114.13M	-81.47M
Change in Payables	-20.52M	-2.54M	1.06M	-30.86M	59.22M	-10.38M	98.89M	47.7M	183.4M	19.52M
Cash from Investing+	-72.98M	-13.34M	-13.52M	-727.83M	-26.33M	-111.54M	-108.05M	-56.51M	-36.47M	-161.08M
Capital Expenditures	-9.64M	-8.39M	-13.88M	-28.29M	-26.88M	-25.63M	-35.36M	-41.87M	0	0
CapEx % of Revenue	1.03%	1.03%	0.72%	1.22%	0.89%	0.75%	0.9%	0.97%	0.71%	-
Acquisitions	-63.34M	0	360K	-700.17M	0	-85.91M	-87.36M	-12.49M	0	-117.25M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-63.34M	-4.95M	360K	636K	541K	0	14.67M	-2.15M	-36.47M	-43.84M
Cash from Financing+	109.74M	44.28M	8.07M	719.02M	-68.85M	-76.87M	15.27M	-265.13M	-218.21M	-277.31M
Debt Issued (Net)	26.68M	23.38M	-4.15M	752.24M	-183.25M	-76.84M	-6M	-6M	43.58M	0
Equity Issued (Net)	1000K	1000K	0	0	1000K	-32K	0	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	-2M	0	0	0	0	0	0
Share Repurchases	0	0	0	-2.5M	0	-32K	0	-250.26M	-252.73M	-309.95M
Other Financing	-202K	120K	0	-31.21M	-4.53M	0	21.27M	-8.87M	-9.05M	32.65M
Net Change in Cash	-6.01M	29.89M	-25.55M	30.66M	32.21M	20.16M	174.76M	49.66M	68.72M	-179.94M
Free Cash Flow+	-44.84M	-9.44M	-33.98M	11.18M	100.52M	182.94M	232.19M	329.43M	287.79M	258.45M
FCF Margin %	-4.79%	-1.16%	-1.75%	0.48%	3.31%	5.32%	5.89%	7.66%	5.76%	4.57%
FCF Growth %	41.21%	78.95%	-259.87%	132.89%	799.48%	82%	26.92%	41.88%	-12.64%	-10.19%
FCF per Share	-1.91	-0.31	-1.06	0.07	0.56	1.01	1.28	1.83	1.66	1.62
FCF Conversion (FCF/Net Income)	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x	1.25x
Interest Paid	34.7M	45.38M	47.17M	50.81M	97.64M	60.92M	50.37M	69.8M	71.55M	0
Taxes Paid	372K	649K	1.6M	2.4M	2.88M	5.71M	13.44M	75.24M	64.52M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-	-19.91%	-0.84%	12.77%	11.75%	19.02%	14.99%	15.2%
Return on Invested Capital (ROIC)	-7.25%	-12.32%	8.13%	-0.02%	3.81%	6.59%	8.07%	10.51%	10.84%	15.34%
Gross Margin	28.01%	32.95%	21.77%	22.2%	22.5%	22.67%	21.98%	22.81%	20.27%	19.26%
Net Margin	-4.57%	-7.86%	-0.32%	-3.29%	-0.27%	4.07%	3.82%	6.21%	4.24%	3.67%
Debt / Equity	-	-	-	1.53x	1.20x	0.99x	0.83x	0.82x	0.87x	-
Interest Coverage	-0.96x	-1.22x	0.83x	-0.00x	1.21x	3.44x	4.38x	5.06x	5.31x	2.70x
FCF Conversion	0.82x	0.02x	3.29x	-0.52x	-15.77x	1.49x	1.78x	1.39x	1.53x	1.25x
Revenue Growth	-4.75%	-12.65%	137.37%	19.11%	31.26%	13.39%	14.72%	9.06%	16.17%	13.03%

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

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

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

Key Insights

✓Strengths

✗Weaknesses

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