Option Care Health, Inc. OPCH
Option Care Health, Inc. ("Option Care Health", "we", "us", "our", or the "Company") is the largest independent provider of home and alternate site infusion services through its national network of 196 locations in 43 states. Option Care Health draws on over 40 years of clinical care experience to offer patient-centered, cost-effective infusion therapy. Option Care Health's infusion services include the clinical management of infusion therapy, nursing support and care coordination. Option Care Health's multidisciplinary team of more than 5,000 clinicians, including pharmacists, pharmacy technicians, nurses and dietitians, are able to provide infusion service coverage for nearly all patients across the United States ("U.S.") needing treatment for complex and chronic medical conditions.
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 | $5.65B | $5.00B | $4.30B | $3.87B | $3.44B | $3.03B | $2.31B | $1.94B | $1.83B | $935.6M |
| Cost of revenue | $4.56B | $3.99B | $3.32B | $2.56B | $2.66B | $2.35B | $1.80B | $1.52B | $1.38B | $673.5M |
| Gross profit | $1.09B | $1.01B | $981.2M | $866.9M | $779.6M | $682.3M | $513.0M | $422.2M | $446.0M | $262.1M |
| SG&A | $682.5M | $630.3M | $607.4M | $566.1M | $525.7M | $500.2M | $459.6M | $345.9M | $338.5M | $38.8M |
| Total operating expenses | $750.0M | $691.2M | $666.6M | $626.7M | $588.8M | $571.5M | $513.3M | $383.9M | $418.7M | $273.1M |
| Operating income | $337.9M | $321.8M | $314.6M | $240.2M | $190.8M | $110.8M | -$319.0K | $38.3M | $27.3M | -$11.0M |
| Interest expense | $54.6M | $49.0M | $51.2M | $53.8M | $67.0M | $107.8M | $73.7M | $45.8M | $52.1M | $37.6M |
| Pre-tax income | $282.9M | $283.6M | $358.7M | $205.8M | $116.5M | -$5.2M | -$78.2M | -$51.0M | -$67.4M | -$34.2M |
| Income tax | $75.3M | $71.8M | $91.7M | $55.2M | $23.4M | $2.8M | $2.3M | $2.7M | $18.6M | $2.0M |
| Net income | $207.6M | $211.8M | $267.1M | $150.6M | $139.9M | -$8.1M | -$75.9M | -$6.1M | $3.9M | -$42.8M |
| EPS, basic | 1.28 | 1.23 | 1.49 | 0.83 | 0.78 | -0.04 | -0.49 | — | — | — |
| EPS, diluted | 1.27 | 1.23 | 1.48 | 0.83 | 0.77 | -0.04 | -0.49 | -0.04 | 0.03 | -0.55 |
| Shares, diluted (wtd. avg.) | $163.4M | $172.8M | $180.4M | $182.1M | $181.2M | $181.0M | $156.3M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $232.6M | $412.6M | $343.8M | $294.2M | $119.4M | $99.3M | $67.1M | $36.4M | $53.1M | $44.9M |
| Receivables | $473.6M | $409.7M | $377.7M | $377.5M | $338.2M | $328.3M | $324.4M | $310.2M | $85.5M | $109.1M |
| Inventory | $471.1M | $388.1M | $274.0M | $224.3M | $183.1M | $158.6M | $115.9M | $83.3M | $38.0M | $36.2M |
| Total current assets | $1.26B | $1.32B | $1.09B | $994.3M | $710.3M | $657.0M | $558.7M | $467.4M | $186.6M | $173.3M |
| Property, plant and equipment | $139.2M | $127.4M | $120.6M | $108.3M | $111.5M | $121.1M | $133.2M | $93.1M | $27.0M | $32.7M |
| Goodwill | $1.61B | $1.54B | $1.54B | $1.53B | $1.48B | $1.43B | $1.43B | $632.5M | $627.4M | $365.9M |
| Other intangibles | $309.2M | $301.0M | $335.4M | $364.1M | $366.0M | $351.1M | $385.9M | $219.7M | $19.1M | $31.0M |
| Total assets | $3.46B | $3.42B | $3.22B | $3.11B | $2.79B | $2.65B | $2.59B | $1.43B | $603.1M | $605.0M |
| Accounts payable | $639.8M | $610.8M | $426.5M | $378.8M | $279.2M | $282.9M | $221.1M | $187.9M | $66.0M | $64.4M |
| Short-term debt | $6.8M | $6.5M | $6.0M | $6.0M | $6.0M | $9.2M | $9.2M | $4.2M | $1.7M | $18.5M |
| Total current liabilities | $829.3M | $780.1M | $618.3M | $565.4M | $459.7M | $434.0M | $330.0M | $240.0M | $105.1M | $130.1M |
| Long-term debt | $1.15B | $1.10B | $1.06B | $1.06B | $1.06B | $1.12B | $1.28B | $535.2M | $502.9M | $467.7M |
| Total liabilities | $2.13B | $2.02B | $1.80B | $1.73B | $1.62B | $1.63B | $1.68B | $825.4M | $605.8M | $566.6M |
| Retained earnings | $876.9M | $669.3M | $457.5M | $190.4M | $39.9M | -$100.0M | -$92.0M | -$16.0M | -$709.5M | -$645.3M |
| Total equity | $1.33B | $1.40B | $1.42B | $1.39B | $1.18B | $1.02B | $906.8M | $602.8M | $606.1M | $600.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $258.4M | $323.4M | $371.3M | $267.5M | $208.6M | $127.4M | $39.5M | $24.4M | $37.9M | -$42.5M |
| Depreciation and amortisation | $67.5M | $60.9M | $59.2M | $60.6M | $63.1M | $71.3M | $53.7M | $38.1M | $34.7M | $22.0M |
| Stock-based compensation | $40.0M | $36.1M | $30.5M | $16.8M | $9.6M | $2.9M | $4.2M | $2.1M | $1.5M | $1.8M |
| Capital expenditure | $41.3M | $35.6M | $41.9M | $35.4M | $25.6M | $26.9M | $28.3M | $26.3M | $25.0M | — |
| Investing cash flow | -$161.1M | -$36.5M | -$56.5M | -$108.1M | -$111.5M | -$26.3M | -$727.8M | -$37.0M | -$24.5M | -$73.2M |
| Financing cash flow | -$277.3M | -$218.2M | -$265.1M | $15.3M | -$76.9M | -$68.8M | $719.0M | -$4.2M | -$5.2M | $109.7M |
| Buybacks | $310.0M | $252.7M | $250.3M | $75.0M | $0 | — | — | — | — | — |
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 0001140361-26-013825.
Others in SIC 8082
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BTSG | BrightSpring Health Services, Inc. | $12.02B | 69.8x | 28.2% |
| CHE | CHEMED CORP | $6.79B | 28.3x | 4.1% |
| AVAH | Aveanna Healthcare Holdings, Inc. | $2.96B | 12.9x | 20.2% |
| ADUS | Addus HomeCare Corp | $2.22B | 22.8x | 23.2% |
| AHCO | AdaptHealth Corp. | $884.9M | — | -0.5% |