CHEMED CORP CHE
Chemed Corporation (the "Company" or "Chemed") was incorporated in Delaware in 1970 as a subsidiary of W.R. Grace & Co. and succeeded to the business of W.R. Grace & Co.'s Special Products Group as of April 30, 1971 and remained a subsidiary of W.R. Grace & Co. until March 10, 1982.
Chemed purchases, operates and divests subsidiaries engaged in diverse business activities for the purposes of maximizing shareholder value. The Company's day to day operating businesses are managed on a decentralized basis. There are few integrated business functions between the operating units and Chemed (such as sales, marketing or purchasing). Chemed's corporate office management participates in and is ultimately responsible for long term strategic planning, significant capital allocation decisions, investment activities, financial reporting, tax, legal and the selection of the key executives of each of the operating businesses. Since its inception, the Company has engaged in twelve significant acquisitions or divestitures of diverse business units.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.53B | $2.43B | $2.26B | $1.20B | $1.26B | $1.33B | $1.28B | $1.20B | $1.67B | $1.58B |
| Cost of revenue | $1.71B | $1.58B | $1.47B | $1.37B | $1.37B | $1.38B | $1.32B | $1.23B | $1.15B | $1.12B |
| Gross profit | $823.2M | $854.3M | $798.8M | -$168.3M | -$108.2M | -$43.5M | -$39.9M | -$30.1M | $516.2M | $461.4M |
| SG&A | $417.2M | $424.4M | $395.1M | $358.7M | $366.7M | $330.2M | $305.7M | $271.2M | $276.7M | $243.6M |
| Total operating expenses | $2.19B | $2.06B | $1.92B | $1.79B | $1.80B | $1.69B | $1.68B | $1.54B | $1.55B | $1.40B |
| Operating income | $338.2M | $366.5M | $340.6M | $343.5M | $343.0M | $389.7M | $257.4M | $243.6M | $113.0M | $178.7M |
| Interest expense | $1.8M | $1.8M | $3.1M | $4.6M | $1.9M | $2.4M | $4.5M | $5.0M | $4.3M | $3.7M |
| Pre-tax income | $355.8M | $399.5M | $350.4M | $329.7M | $350.3M | $396.0M | $261.6M | $239.6M | $116.9M | $177.1M |
| Income tax | $90.5M | $97.5M | $77.9M | $80.1M | $81.8M | $76.5M | $41.7M | $34.1M | $18.7M | $68.3M |
| Net income | $265.2K | $302.0K | $272.5K | $249.6K | $268.6K | $319.5M | $219.9M | $205.5M | $98.2M | $108.7M |
| EPS, basic | 18.42 | 20.10 | 18.11 | 16.72 | 17.14 | 20.02 | 13.77 | 12.80 | 6.11 | 6.64 |
| EPS, diluted | 18.34 | 19.89 | 17.93 | 16.53 | 16.85 | 19.48 | 13.31 | 12.23 | 5.86 | 6.48 |
| Shares, diluted (wtd. avg.) | $14.5M | $15.2M | $15.2M | $15.1M | $15.9M | $16.4M | $16.5M | $16.8M | $16.7M | $16.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $74.5M | $178.3M | $264.0M | $74.1M | $32.9M | $162.7M | $6.2M | $4.8M | $11.1M | $15.3M |
| Receivables | $182.6M | $171.2M | $181.5M | $139.4M | $137.2M | $126.9M | $143.8M | $119.5M | $113.7M | $132.0M |
| Inventory | $7.5M | $8.2M | $12.0M | $10.3M | $10.1M | $7.1M | $7.5M | $5.7M | $5.3M | $5.8M |
| Total current assets | $302.6M | $394.7M | $500.8M | $272.6M | $230.3M | $329.4M | $190.7M | $159.8M | $176.0M | $169.9M |
| Property, plant and equipment | $205.7M | $200.8M | $203.8M | $199.7M | $193.7M | $187.8M | $175.8M | $162.0M | $143.0M | $121.3M |
| Goodwill | $667.0M | $666.7M | $585.0M | $581.3M | $578.6M | $578.6M | $577.4M | $510.6M | $476.9M | $472.4M |
| Other intangibles | $82.8M | $92.2M | $90.3M | $99.7M | $108.1M | $118.1M | $126.4M | $68.3M | $54.9M | $55.1M |
| Total assets | $1.54B | $1.67B | $1.67B | $1.44B | $1.34B | $1.43B | $1.27B | $975.5M | $920.0M | $880.1M |
| Accounts payable | $64.5M | $44.1M | $64.0M | $41.9M | $73.0M | $54.2M | $51.1M | $50.1M | $48.4M | $39.6M |
| Short-term debt | — | — | — | $5.0M | — | — | — | — | $10.0M | $8.8M |
| Total current liabilities | $287.1M | $285.7M | $312.1M | $297.2M | $302.4M | $299.1M | $262.2M | $191.7M | $193.5M | $171.8M |
| Long-term debt | — | — | — | $92.5M | $185.0M | — | $90.0M | $89.2M | $91.2M | $100.0M |
| Total liabilities | $558.8M | $549.6M | $560.2M | $643.3M | $719.5M | $533.7M | $541.7M | $384.2M | $379.7M | $356.0M |
| Retained earnings | $2.96B | $2.72B | $2.45B | $2.20B | $1.97B | $1.72B | $1.43B | $1.23B | $1.04B | $958.1M |
| Total equity | $979.4M | $1.12B | $1.11B | $798.7M | $623.3M | $901.2M | $726.6M | $591.3M | $540.4M | $524.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $388.3M | $417.5M | $330.3M | $309.9M | $308.6M | $489.3M | $301.2M | $287.1M | $162.5M | $135.4M |
| Depreciation and amortisation | $64.8M | $63.0M | $60.9M | $59.2M | $59.1M | $56.6M | $45.2M | $38.9M | $35.6M | $34.6M |
| Capital expenditure | $62.8M | $49.5M | $56.9M | $57.3M | $58.7M | $58.8M | $53.0M | $52.9M | $64.3M | $39.8M |
| Investing cash flow | -$59.3M | -$143.9M | -$60.6M | -$59.4M | -$57.8M | -$61.6M | -$190.8M | -$105.2M | -$67.6M | -$39.9M |
| Financing cash flow | -$432.8M | -$359.2M | -$79.8M | -$209.3M | -$380.6M | -$271.2M | -$109.2M | -$188.2M | -$99.1M | -$94.9M |
| Dividends paid | $31.7M | $27.1M | $23.5M | $22.0M | $22.0M | $21.1M | $19.8M | $18.7M | $17.4M | $16.4M |
| Buybacks | $431.5M | $361.4M | $67.7M | $114.5M | $576.0M | $175.6M | $92.6M | $158.9M | $94.6M | $102.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001562762-26-000052.
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