Addus HomeCare (ADUS) FY2025 results: revenue $1.4 billion, up 23.2% on the year
Addus HomeCare Corp. (ADUS) reported revenue of $1.4 billion for fiscal 2025, the year ended 31 December 2025, up 23.2% on the year before. Net income was $96 million, up 30.3%, and diluted earnings per share $5.22. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2026.
Revenue
$1.4 billion
+23.2% on the year
FY2018FY2025
Operating margin
9.7%
8.9% a year earlier
FY2018FY2025
Net income
$96 million
+30.3% on the year
FY2018FY2025
Diluted EPS
$5.22
+23.4% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Revenue rose 25.6% in quarter: Net service revenues were $373.1 million against $297.1 million, and net income was $29.8 million, or $1.61 per diluted share, against $1.07.
Adjusted EBITDA up 33.3%: Adjusted EBITDA was $50.3 million against $37.8 million; adjusted net income per diluted share was $1.77 against $1.38, up 28.3%.
Personal care drove growth: Personal care revenue was $286.0 million, 76.6% of the quarter, against $220.3 million a year earlier, with organic growth in the segment.
Hospice grew 16.0% organically: Hospice revenue was $70.0 million, 18.8% of the quarter, with 16.0% organic growth; management cited operational improvements over the past year.
Gross margin eased to 33.1%: Gross margin was 33.1% of revenue against 34.2% a year earlier; full-year gross margin was 32.5% in both years.
$ million except per share. Read moreFree 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
112
116
112
-4.2%
Capital expenditure
7.7
6.0
9.5
+27.6%
Free cash flow
104
110
103
-6.0%
Free cash flow margin
7.3%
9.6%
9.7%
Cash from investing
-32.5
-355
-119
Cash from financing
-96.3
272
-8.2
Depreciation and amortisation
16.4
13.5
14.1
+21.3%
Share-based compensation
16.4
11.2
10.3
+47.1%
Diluted shares, weighted
18m
17m
16m
+5.8%
Shares outstanding at period end
19m
18m
16m
+2.0%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,085
970
707
+11.8%
Debt
121
218
124
-44.6%
Operating lease liabilities
37.3
41.9
39.7
-11.0%
Other liabilities
194
182
154
+6.6%
Total liabilities and equity
1,437
1,413
1,024
+1.7%
Fixed assets
25.0
24.7
24.0
+1.2%
Goodwill
997
971
663
+2.7%
Intangible assets
102
110
92.0
-6.6%
Cash and equivalents
81.6
98.9
64.8
-17.5%
Receivables
152
123
115
+23.4%
Other assets
79.9
85.9
65.1
-7.0%
Total assets
1,437
1,413
1,024
+1.7%
10-K for the year ended 31 December 2025, filed 24 February 2026: the filing.