Addus HomeCare (ADUS) FY2024 results: revenue $1.2 billion, up 9.1% on the year

Addus HomeCare Corp. (ADUS) reported revenue of $1.2 billion for fiscal 2024, the year ended 31 December 2024, up 9.1% on the year before. Net income was $74 million, up 17.7%, and diluted earnings per share $4.23. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.

Revenue

$1.2 billion

+9.1% on the year

FY2017FY2024

Operating margin

8.9%

8.6% a year earlier

FY2017FY2024

Net income

$74 million

+17.7% on the year

FY2017FY2024

Diluted EPS

$4.23

+10.4% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,155	1,059	951	+9.1%
Cost of revenue	780	719	651	+8.5%
Gross profit	375	340	300	+10.3%
Gross margin	32.5%	32.1%	31.5%
Operating income	103	91.0	68.7	+12.9%
Operating margin	8.9%	8.6%	7.2%
Interest expense	7.7	11.1	8.9	-30.4%
Pre-tax income	99.4	81.3	60.2	+22.2%
Income tax	25.8	18.8	14.1	+36.9%
Effective tax rate	25.9%	23.1%	23.5%
Net income	73.6	62.5	46.0	+17.7%
Net margin	6.4%	5.9%	4.8%
Diluted EPS	$4.23	$3.83	$2.84	+10.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	116	112	105	+3.7%
Capital expenditure	6.0	9.5	8.3	-36.0%
Free cash flow	110	103	96.8	+7.4%
Free cash flow margin	9.6%	9.7%	10.2%
Cash from investing	-355	-119	-107
Cash from financing	272	-8.2	-87.5
Depreciation and amortisation	13.5	14.1	14.1	-4.2%
Share-based compensation	11.2	10.3	10.6	+8.2%
Diluted shares, weighted	17m	16m	16m	+6.6%
Shares outstanding at period end	18m	16m	16m	+11.8%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	970	707	634	+37.3%
Debt	218	124	132	+76.0%
Operating lease liabilities	41.9	39.7	35.5	+5.5%
Other liabilities	182	154	137	+18.1%
Total liabilities and equity	1,413	1,024	938	+37.9%
Fixed assets	24.7	24.0	21.2	+2.9%
Goodwill	971	663	583	+46.4%
Intangible assets	110	92.0	72.2	+19.2%
Cash and equivalents	98.9	64.8	80.0	+52.7%
Receivables	123	115	126	+6.4%
Other assets	85.9	65.1	56.3	+31.9%
Total assets	1,413	1,024	938	+37.9%

10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.