AdaptHealth (AHCO) FY2022 results: revenue $3.0 billion, up 21.0% on the year
AdaptHealth Corp. (AHCO) reported revenue of $3.0 billion for fiscal 2022, the year ended 31 December 2022, up 21.0% on the year before. Net income was $69 million, down 55.6%, and diluted earnings per share $0.33. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2023.
Revenue
$3.0 billion
+21.0% on the year
FY2018FY2022
Operating margin
6.4%
9.2% a year earlier
FY2018FY2022
Net income
$69 million
-55.6% on the year
FY2018FY2022
Diluted EPS
$0.33
-50.7% on the year
FY2018FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
374
276
196
+35.6%
Capital expenditure
391
203
39.8
+92.5%
Free cash flow
-17.6
72.4
156
Free cash flow margin
-0.6%
2.9%
14.8%
Cash from investing
-411
-1,825
-816
Cash from financing
-66.1
1,599
643
Depreciation and amortisation
351
258
82.4
+36.1%
Share-based compensation
22.4
25.3
18.7
-11.6%
Buybacks
14.0
0.0
0.0
Diluted shares, weighted
139m
133m
52m
+4.5%
Shares outstanding at period end
134m
134m
n/a
+0.4%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
2,151
2,062
355
+4.3%
Non-controlling interest
6.6
4.8
-74.0
+38.0%
Debt
2,188
2,204
785
-0.7%
Operating lease liabilities
104
120
n/a
-13.1%
Finance lease liabilities
4.0
0.1
n/a
+2,892.4%
Other liabilities
765
860
748
-11.0%
Total liabilities and equity
5,220
5,250
1,813
-0.6%
Fixed assets
n/a
399
110
Goodwill
3,545
3,513
999
+0.9%
Intangible assets
163
202
116
-19.5%
Cash and equivalents
46.3
150
100.0
-69.1%
Receivables
359
360
171
-0.2%
Inventory
128
123
58.8
+3.8%
Other assets
978
504
258
+93.9%
Total assets
5,220
5,250
1,813
-0.6%
10-K for the year ended 31 December 2022, filed 28 February 2023: the filing.