InfuSystem Holdings, Inc INFU
InfuSystem Holdings, Inc. ("we," "us," "our" or the "Company") is a Delaware corporation. Formed in 2005, the Company operates through its subsidiary InfuSystem, Inc., a Delaware corporation ("InfuSystem" or "ISI").
We are a leading national healthcare service provider, facilitating outpatient care for Durable Medical Equipment (DME) manufacturers and healthcare providers. We provide our products and services to hospitals, oncology practices, ambulatory surgery centers, and other alternate site healthcare providers. Our headquarters is in Rochester Hills, Michigan, and we operate our business from a total of seven locations in the United States ("U.S.") and Canada.
We provide our services under a two-platform model: Patient Services and Device Solutions.
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 | $143.4M | $134.9M | $125.8M | $109.9M | $102.4M | $97.4M | $81.1M | $67.1M | $10.0M | $70.5M |
| Cost of revenue | $63.1M | $64.5M | $62.7M | $49.4M | $43.8M | $38.6M | $34.2M | $27.6M | $18.4M | $16.2M |
| Gross profit | $80.3M | $70.4M | $63.1M | $60.6M | $58.5M | $58.8M | $46.9M | $39.6M | $43.4M | $44.7M |
| SG&A | $57.0M | $51.2M | $45.4M | $44.2M | $40.7M | $35.2M | $29.0M | $25.4M | $25.2M | $24.6M |
| Total operating expenses | $68.4M | $63.5M | $59.0M | $58.9M | $55.7M | $49.9M | $43.4M | $39.2M | $47.2M | $43.8M |
| Operating income | $11.9M | $6.9M | $4.1M | $1.7M | $2.8M | $8.8M | $3.5M | $415.0K | -$3.8M | $974.0K |
| Interest expense | $1.3M | $1.8M | $2.2M | $1.4M | $1.4M | $1.3M | $1.9M | $1.4M | $1.3M | $1.3M |
| Pre-tax income | $10.6M | $5.1M | $1.9M | $130.0K | $1.3M | $7.5M | $1.5M | -$1.0M | -$5.3M | -$364.0K |
| Income tax | $4.0M | $2.7M | $979.0K | $112.0K | $163.0K | $9.8M | $163.0K | $53.0K | $15.4M | $142.0K |
| Net income | $6.6M | $2.3M | $872.0K | $18.0K | $1.4M | $17.3M | $1.4M | -$1.1M | -$20.7M | -$222.0K |
| EPS, basic | 0.32 | 0.11 | 0.04 | 0.00 | 0.07 | 0.86 | 0.07 | -0.05 | -0.91 | -0.01 |
| EPS, diluted | 0.31 | 0.11 | 0.04 | 0.00 | 0.06 | 0.80 | 0.07 | -0.05 | -0.91 | -0.01 |
| Shares, diluted (wtd. avg.) | $21.1M | $21.7M | $21.6M | $21.5M | $22.0M | $21.7M | $20.8M | $21.4M | $22.7M | $22.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.2M | $527.0K | $231.0K | $165.0K | $186.0K | $9.6M | $2.6M | $4.3M | $3.5M | $3.4M |
| Receivables | $22.9M | $21.2M | $19.8M | $16.9M | $15.4M | $14.7M | $12.1M | $9.6M | $11.3M | $11.6M |
| Inventory | $5.4M | $6.5M | $6.4M | $4.8M | $3.9M | $3.0M | $2.9M | $2.3M | $1.8M | $2.2M |
| Total current assets | $36.3M | $32.2M | $30.6M | $24.8M | $22.1M | $29.8M | $19.3M | $17.5M | $17.7M | $20.8M |
| Property, plant and equipment | $3.4M | $4.0M | $4.3M | $4.4M | $4.5M | $4.3M | $4.0M | $1.4M | $1.6M | $2.0M |
| Goodwill | $3.7M | $3.7M | $3.7M | $3.7M | $3.7M | $0 | — | — | — | — |
| Other intangibles | $6.9M | $6.5M | $7.4M | $8.4M | $10.9M | $11.2M | $15.5M | $19.9M | $24.5M | $31.2M |
| Total assets | $100.6M | $103.6M | $102.9M | $99.4M | $97.6M | $97.0M | $79.2M | $64.1M | $68.9M | $96.3M |
| Accounts payable | $10.8M | $9.8M | $8.0M | $8.3M | $7.9M | $6.8M | $8.0M | $7.1M | $5.5M | $5.3M |
| Short-term debt | $0 | $0 | $0 | $0 | $349.0K | $9.4M | $8.1M | $4.9M | $3.0M | $5.3M |
| Total current liabilities | $20.2M | $17.7M | $15.7M | $14.5M | $12.9M | $23.0M | $21.8M | $14.8M | $12.5M | $16.4M |
| Long-term debt | $19.6M | $23.9M | $29.1M | $33.2M | $32.7M | $29.4M | $30.3M | $28.8M | $25.4M | $26.6M |
| Total liabilities | $43.2M | $46.1M | $50.6M | $51.4M | $49.3M | $56.2M | $56.9M | $43.6M | $37.9M | $45.7M |
| Retained earnings | -$60.7M | -$57.5M | -$58.6M | -$59.3M | -$53.9M | -$44.0M | -$61.4M | -$62.7M | -$61.6M | -$41.1M |
| Total equity | $57.3M | $57.5M | $52.3M | $48.0M | $48.3M | $40.8M | $22.3M | $20.4M | $31.0M | $50.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $24.4M | $20.5M | $11.2M | $17.5M | $18.3M | $20.3M | $13.9M | $11.4M | $7.7M | $7.9M |
| Depreciation and amortisation | $12.4M | $11.5M | $11.5M | $10.9M | $10.4M | $9.7M | $7.9M | $6.7M | $7.0M | $6.9M |
| Stock-based compensation | $4.4M | $4.5M | $4.1M | $3.8M | $6.4M | $2.6M | $997.0K | $957.0K | $682.0K | $462.0K |
| Capital expenditure | $560.0K | $1.1M | $1.0M | $982.0K | $980.0K | $1.1M | $2.9M | $281.0K | $104.0K | $168.0K |
| Investing cash flow | -$6.8M | -$13.2M | -$6.7M | -$11.5M | -$21.3M | -$12.2M | -$19.6M | -$5.0M | $918.0K | -$5.3M |
| Financing cash flow | -$15.0M | -$6.9M | -$4.4M | -$6.1M | -$6.5M | -$1.1M | $4.1M | -$5.6M | -$8.6M | $15.0K |
| Buybacks | $9.9M | $1.2M | $153.0K | $5.5M | $560.0K | $0 | $0 | $10.4M | — | $75.0K |
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 0001628280-26-024635.
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