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Encompass Health

EHC NYSE Health Care Facilities Financials FY2016–FY2025

Encompass Health's revenue rose 10.5% to $5.9 billion in fiscal 2025. Its net margin was 9.5%, up from 8.5% a year earlier. Free cash flow was $439 million, up 21.9%. It paid out $229 million in dividends and buybacks, 52% of free cash flow.

Last close · Oct 23, 2026

$124.09

1.5%
Value it Compare
Revenue Total sales reported in the income statement.
$5.9B
10.5% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$566M
24.2%
Free cash flow Cash from operations minus capital spending.
$439M
21.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
15.8%
1.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$12.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
20.2x
On $6.14 EPS (TTM)

What Encompass Health does

No business description yet.

Legal name
Encompass Health Corporation
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000785161-26-000081
0000785161

Revenue and margins

Encompass Health had $5.9B of revenue in fiscal 2025, up 10.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 8.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $439M in fiscal 2025, 7.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Encompass Health returned $229M to shareholders in fiscal 2025, 52% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Encompass Health yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$2.4B and divides by 102.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.2x · peers 27.5x · sector 28.4x.

Balance sheet

Cash, debt and the ratios that show how comfortably Encompass Health can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $49.4M$21.8M$69.1M$85.4M$72.2M
Debt incl. finance leases $3.3B$2.8B$2.7B$2.5B$2.5B
Net debt / EBITDA 4.1x3.5x2.6x2.0x1.7x
Debt / equity 1.7x2.1x1.7x1.2x1.0x
Interest coverage 3.4x3.1x5.2x6.5x8.7x
Current ratio 1.2x1.3x1.3x1.1x1.1x
Quick ratio 1.2x1.3x1.3x1.1x1.1x
Total assets $6.9B$5.6B$6.1B$6.5B$7.1B
Total liabilities $4.5B$3.8B$3.8B$3.7B$3.8B
Shareholders' equity $1.9B$1.3B$1.6B$2.1B$2.4B
Net debt (− = net cash) $3.2B$2.7B$2.6B$2.4B$2.4B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$47.8M

6 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 31, 2026 Andrew L PriceChief Accounting Officer Sold 5,211 $120.93 $0.6M Form 4
Aug 31, 2026 John Patrick DarbyEVP, Gen Counsel & Secretary Sold 4,858 $121.09 $0.6M Form 4
Aug 10, 2026 Douglas E ColtharpEVP & Chief Financial Officer Sold 18,869 $125.38 $2.4M Form 4
Aug 10, 2026 John Patrick DarbyEVP, Gen Counsel & Secretary Sold 8,906 $125.95 $1.1M Form 4
Aug 10, 2026 Mark J TarrPresident & CEO, Director Sold 173,148 $125.47 $21.7M Form 4
May 15, 2026 Douglas E ColtharpEVP & Chief Financial Officer Sold 27,694 $106.83 $3.0M Form 4
May 11, 2026 Patrick William TuerEVP, Chief Operating Officer Sold 682 $104.56 $0.1M Form 4
Mar 9, 2026 Edmund FaySr. Vice Pres. and Treasurer Sold 11,937 $107.00 $1.3M Form 4
Feb 11, 2026 Mark J TarrPresident & CEO, Director Sold 150,000 $111.64 $16.7M Form 4
Feb 10, 2026 Patrick William TuerEVP, Chief Operating Officer Sold 2,804 $107.62 $0.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✓ ✓
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✓
F-score 6 / 86 / 88 / 8
Accruals ratio −8.5%−8.7%−9.0%
Altman Z'' 1.872.152.56

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Encompass Health EHC $12.4B 10.5% — 7.4% 15.8% 20.2x 8
Option Care Health OPCH $4.9B 13.0% 6.0% 3.8% 11.4% 24.4x 5 Compare →
Ensign Group ENSG $10.4B 18.7% 8.4% — 19.7% 27.5x 6 Compare →
Acadia Healthcare ACHC $2.9B 5.0% — −13.3% −16.0% — 4 Compare →
Astrana Health ASTH $1.9B 56.4% 2.5% 3.3% 4.2% 45.1x 4 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.6B $3.9B $4.3B $4.6B $3.6B $4.0B $4.3B $4.8B $5.4B $5.9B
Operating income $588M $578M $555M $612M $564M $560M $540M — — —
Interest expense $172M $154M $147M $160M $184M $164M $176M $144M $137M $123M
Pretax income $482M $496M $493M $562M $353M $505M $451M $607M $750M $953M
Income tax $164M $146M $119M $116M $74.7M $102M $100M $132M $150M $193M
Net income $248M $271M $292M $359M $284M $412M $271M $352M $456M $566M
Diluted EPS $2.59 $2.84 $2.93 $3.61 $2.85 $4.11 $2.70 $3.47 $4.46 $5.54
Diluted shares 0.10B 0.10B 0.10B 0.10B 0.10B 0.10B 0.10B 0.10B 0.10B 0.10B
Cash flow
Cash from operations $640M $658M $762M $635M $705M $716M $706M $851M $1.0B $1.2B
Capital expenditure $178M $226M $255M $372M $393M $525M $565M $583M $643M $736M
Free cash flow $463M $433M $508M $263M $312M $191M $141M $268M $360M $439M
Depreciation and amortization $173M $184M $200M $219M $203M $220M $244M $274M $300M $328M
Stock-based compensation $27.4M $47.7M $85.9M $114M $25.6M $29.1M $29.2M $50.6M $48.3M $56.5M
Acquisitions $48.1M $38.8M $144M $232M $0.0M $1.1M $0.0M $0.0M $0.0M $0.0M
Share buybacks $65.6M $38.1M $0.0M $45.9M $6.1M $0.0M $0.0M $0.0M $31.1M $158M
Dividends paid $83.8M $91.5M $101M $109M $112M $112M $99.0M $60.4M $62.8M $71.1M
Dividends and buybacks $149M $130M $101M $155M $118M $112M $99.0M $60.4M $93.9M $229M
Balance sheet
Cash and short-term investments $40.5M $54.4M $69.2M $60.0M $186M $49.4M $21.8M $69.1M $85.4M $72.2M
Total debt $3.0B $2.6B $2.5B $3.1B $3.3B $3.3B $2.8B $2.7B $2.5B $2.5B
Finance lease liabilities $0.0M $0.0M $0.0M $384M $392M $380M $360M $340M $318M $295M
Current assets $655M $702M $662M $756M $949M $921M $717M $842M $887M $906M
Current liabilities $476M $518M $673M $721M $717M $749M $576M $656M $841M $836M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $1.4B $1.5B $1.6B $2.0B $2.2B $2.6B $2.9B $3.3B $3.6B $4.1B
Total assets $4.7B $4.9B $5.2B $6.1B $6.4B $6.9B $5.6B $6.1B $6.5B $7.1B
Total liabilities $3.6B $3.2B $3.4B $4.1B $4.4B $4.5B $3.8B $3.8B $3.7B $3.8B
Shareholders' equity $736M $1.2B $1.3B $1.4B $1.6B $1.9B $1.3B $1.6B $2.1B $2.4B
Margins
Operating margin 16.2% 14.8% 13.0% 13.3% 15.8% 13.9% 12.4% — — —
EBITDA margin 20.9% 19.5% 17.7% 18.0% 21.5% 19.4% 18.0% 21.3% 22.1% 23.7%
Net margin 6.8% 6.9% 6.8% 7.8% 8.0% 10.3% 6.2% 7.3% 8.5% 9.5%
FCF margin 12.7% 11.1% 11.9% 5.7% 8.8% 4.8% 3.2% 5.6% 6.7% 7.4%
Returns
Return on capital 10.0% 10.5% 10.6% 11.2% 9.1% 8.4% 8.3% 12.4% 14.0% 15.8%
Return on capital employed 14.0% 13.5% 12.6% 12.4% 10.2% 9.5% 9.7% 14.3% 15.9% 18.0%
Return on equity 36.8% 28.7% 24.1% 27.3% 19.3% 23.6% 16.8% 23.8% 24.5% 25.1%
Return on assets 5.3% 5.7% 5.8% 6.4% 4.5% 6.2% 4.3% 6.0% 7.2% 8.3%
Growth
Revenue growth — 7.5% 9.3% 7.7% −22.6% 12.6% 8.3% 10.4% 11.9% 10.5%
Net income growth 35.2% 9.5% 7.8% 22.7% −20.8% 45.0% −34.3% 29.9% 29.5% 24.3%
EPS growth 35.6% 9.7% 3.2% 23.2% −21.1% 44.2% −34.3% 28.5% 28.5% 24.2%
FCF growth 23.8% −6.5% 17.4% −48.2% 18.6% −38.7% −26.3% 89.9% 34.6% 21.9%
Share count change −1.5% −0.2% 0.5% −0.4% 0.4% 0.4% 0.2% 0.9% 0.9% 0.0%
Financial health
Net debt / EBITDA 3.9x 3.3x 3.2x 3.6x 4.1x 4.1x 3.5x 2.6x 2.0x 1.7x
Debt / equity 4.1x 2.2x 2.0x 2.3x 2.1x 1.7x 2.1x 1.7x 1.2x 1.0x
Interest coverage 3.4x 3.8x 3.8x 3.8x 3.1x 3.4x 3.1x 5.2x 6.5x 8.7x
Current ratio 1.4x 1.4x 1.0x 1.1x 1.3x 1.2x 1.3x 1.3x 1.1x 1.1x
Quick ratio 1.4x 1.4x 1.0x 1.1x 1.3x 1.2x 1.3x 1.3x 1.1x 1.1x
Capital allocation
Capex / revenue 4.9% 5.8% 6.0% 8.1% 11.0% 13.1% 13.0% 12.1% 12.0% 12.4%
Stock comp / revenue 0.8% 1.2% 2.0% 2.5% 0.7% 0.7% 0.7% 1.1% 0.9% 1.0%
Payouts / FCF 32.3% 30.0% 19.9% 58.8% 37.8% 58.7% 70.2% 22.6% 26.1% 52.2%
Quality scores
Piotroski F-score — 7.0 6.0 7.0 5.0 6.0 6.0 6.0 6.0 8.0
Altman Z'' 0.4 0.7 0.6 0.9 1.2 1.3 1.4 1.9 2.2 2.6
Accruals ratio −8.5% −8.1% −9.4% −4.9% −6.7% −4.6% −7.0% −8.5% −8.7% −9.0%

Source: SEC EDGAR XBRL filings (CIK 0000785161). Data updated October 14, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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