Skip to content
stoqly

Option Care Health

OPCH Nasdaq Health Care Facilities Financials FY2016–FY2025

Option Care Health's revenue rose 13.0% to $5.6 billion in fiscal 2025. Its operating margin was 6.0%, down from 6.4% a year earlier. Free cash flow was $217 million, down 24.6%. It paid out $310 million in dividends and buybacks, 143% of free cash flow. The diluted share count fell 5.5%.

Last close · Oct 23, 2026

$31.22

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$5.6B
13.0% vs prior year
Operating margin Operating income as a share of revenue.
6.0%
0.5 pts
Net income Profit after all expenses, interest and tax.
$208M
2.0%
Free cash flow Cash from operations minus capital spending.
$217M
24.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.4%
0.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$4.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
24.4x
On $1.28 EPS (TTM)

What Option Care Health does

No business description yet.

Legal name
OPTION CARE HEALTH, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001014739-26-000008
0001014739

Revenue and margins

Option Care Health had $5.6B of revenue in fiscal 2025, up 13.0% 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

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 $217M in fiscal 2025, 3.8% 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

Option Care Health returned $310M to shareholders in fiscal 2025, 143% of free cash flow. The diluted share count fell 5.5%.

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

Value Option Care 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 −$928M and divides by 163.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 24.4x · peers 27.5x · sector 28.4x.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $119M$294M$344M$413M$233M
Debt incl. finance leases $1.1B$1.1B$1.1B$1.1B$1.2B
Net debt / EBITDA 3.7x2.6x1.9x1.8x2.3x
Debt / equity 0.9x0.8x0.8x0.8x0.9x
Interest coverage 2.9x4.5x6.1x6.6x6.2x
Current ratio 1.6x1.8x1.8x1.7x1.5x
Quick ratio 1.2x1.4x1.3x1.2x1.0x
Total assets $2.8B$3.1B$3.2B$3.4B$3.5B
Total liabilities $1.6B$1.7B$1.8B$2.0B$2.1B
Shareholders' equity $1.2B$1.4B$1.4B$1.4B$1.3B
Net debt (− = net cash) $947M$770M$719M$699M$928M

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

$2.9M

4 insiders

Sold, 12 months

$1.2M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
May 7, 2026 Timothy P SullivanDirector Bought 24,154 $20.69 $0.5M Form 4
May 4, 2026 Harry M Jansen Kraemer JrDirector Bought 36,610 $21.41 $0.8M Form 4
May 4, 2026 John Charles RademacherChief Executive Officer, Director Bought 12,500 $21.18 $0.3M Form 4
May 4, 2026 Meenal SethnaChief Financial Officer Bought 16,225 $20.16 $0.3M Form 4
Feb 27, 2026 Michael BavaroChief Human Resources Officer Sold 6,000 $33.00 $0.2M Form 4
Feb 27, 2026 Pate R CarterDirector Sold 30,287 $32.05 $1.0M Form 4
Nov 3, 2025 Harry M Jansen Kraemer JrDirector Bought 38,000 $25.98 $1.0M 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 8 / 96 / 95 / 9
Accruals ratio −3.3%−3.4%−1.5%
Altman Z'' 2.923.042.97

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
Option Care Health OPCH $4.9B 13.0% 6.0% 3.8% 11.4% 24.4x 5
Encompass Health EHC $12.4B 10.5% — 7.4% 15.8% 20.2x 8 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 $936M $1.8B $1.9B $2.3B $3.0B $3.4B $3.9B $4.3B $5.0B $5.6B
Gross profit $262M $446M $422M $513M $682M $780M $867M $981M $1.0B $1.1B
Operating income −$11.0M $27.3M $38.3M −$0.3M $111M $191M $240M $315M $322M $338M
Interest expense $34.7M $43.5M $45.8M $73.7M $108M $67.0M $53.8M $51.2M $49.0M $54.6M
Pretax income −$34.2M −$67.4M −$51.0M −$78.2M −$5.2M $117M $206M $359M $284M $283M
Income tax $2.0M −$18.6M −$2.7M −$2.3M $2.8M −$23.4M $55.2M $91.7M $71.8M $75.3M
Net income −$42.8M $3.9M −$6.1M −$75.9M −$8.1M $140M $151M $267M $212M $208M
Diluted EPS −$0.55 $0.03 −$0.04 −$0.49 −$0.04 $0.77 $0.83 $1.48 $1.23 $1.27
Diluted shares 0.09B 0.14B 0.14B 0.16B 0.18B 0.18B 0.18B 0.18B 0.17B 0.16B
Cash flow
Cash from operations −$42.5M $37.9M $24.4M $39.5M $127M $209M $268M $371M $323M $258M
Capital expenditure — $25.0M $26.3M $28.3M $26.9M $25.6M $35.4M $41.9M $35.6M $41.3M
Free cash flow — $12.9M −$1.9M $11.2M $101M $183M $232M $329M $288M $217M
Depreciation and amortization $22.0M $34.7M $38.1M $53.7M $71.3M $63.1M $60.6M $59.2M $60.9M $67.5M
Stock-based compensation $1.8M $1.5M $2.1M $4.2M $2.9M $9.6M $16.8M $30.5M $36.1M $40.0M
Acquisitions $67.5M $0.0M $10.7M $700M $0.0M $85.9M $87.4M $12.5M $0.0M $117M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $250M $253M $310M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $250M $253M $310M
Balance sheet
Cash and short-term investments $9.6M $39.5M $36.4M $67.1M $99.3M $119M $294M $344M $413M $233M
Total debt $468M $503M $539M $1.3B $1.1B $1.1B $1.1B $1.1B $1.1B $1.2B
Finance lease liabilities $0.0M $0.0M $0.0M $0.7M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $173M $187M $467M $559M $657M $710M $994M $1.1B $1.3B $1.3B
Current liabilities $130M $105M $240M $330M $434M $460M $565M $618M $780M $829M
Inventory $36.2M $38.0M $83.3M $116M $159M $183M $224M $274M $388M $471M
Property and equipment, net $32.7M $27.0M $93.1M $133M $121M $112M $108M $121M $127M $139M
Total assets $605M $603M $1.4B $2.6B $2.6B $2.8B $3.1B $3.2B $3.4B $3.5B
Total liabilities $567M $606M $825M $1.7B $1.6B $1.6B $1.7B $1.8B $2.0B $2.1B
Shareholders' equity $601M $606M $603M $907M $1.0B $1.2B $1.4B $1.4B $1.4B $1.3B
Margins
Gross margin 28.0% 24.4% 21.8% 22.2% 22.5% 22.7% 22.0% 22.8% 20.3% 19.3%
Operating margin −1.2% 1.5% 2.0% −0.0% 3.7% 5.6% 6.1% 7.3% 6.4% 6.0%
EBITDA margin 1.2% 3.4% 3.9% 2.3% 6.0% 7.4% 7.6% 8.7% 7.7% 7.2%
Net margin −4.6% 0.2% −0.3% −3.3% −0.3% 4.1% 3.8% 6.2% 4.2% 3.7%
FCF margin — 0.7% −0.1% 0.5% 3.3% 5.3% 5.9% 7.7% 5.8% 3.8%
Returns
Return on capital −1.3% 2.0% 2.8% −0.0% 4.2% 9.2% 8.2% 10.9% 11.3% 11.4%
Return on capital employed −2.6% 5.6% 4.5% −0.0% 5.0% 8.4% 9.9% 12.2% 12.3% 12.8%
Return on equity −16.5% 0.6% −1.0% −10.1% −0.8% 12.8% 11.8% 19.0% 15.0% 15.2%
Return on assets −7.5% 0.6% −0.6% −3.8% −0.3% 5.1% 5.1% 8.4% 6.4% 6.0%
Growth
Revenue growth — 95.4% 6.1% 19.1% 31.3% 13.4% 14.7% 9.1% 16.2% 13.0%
Net income growth — — −257.7% — — — 7.6% 77.4% −20.7% −2.0%
EPS growth — — −233.3% — — — 7.8% 78.3% −16.9% 3.3%
FCF growth — — −114.3% — 799.5% 82.0% 26.9% 41.9% −12.6% −24.6%
Share count change 36.4% 52.1% 0.0% 9.6% 15.8% 0.1% 0.5% −0.9% −4.2% −5.5%
Financial health
Net debt / EBITDA 41.5x 7.5x 6.6x 22.9x 5.6x 3.7x 2.6x 1.9x 1.8x 2.3x
Debt / equity 0.8x 0.8x 0.9x 1.4x 1.1x 0.9x 0.8x 0.8x 0.8x 0.9x
Interest coverage −0.3x 0.6x 0.8x 0.0x 1.0x 2.9x 4.5x 6.1x 6.6x 6.2x
Current ratio 1.3x 1.8x 2.0x 1.7x 1.5x 1.6x 1.8x 1.8x 1.7x 1.5x
Quick ratio 1.1x 1.4x 1.6x 1.3x 1.2x 1.2x 1.4x 1.3x 1.2x 1.0x
Capital allocation
Capex / revenue — 1.4% 1.4% 1.2% 0.9% 0.8% 0.9% 1.0% 0.7% 0.7%
Stock comp / revenue 0.2% 0.1% 0.1% 0.2% 0.1% 0.3% 0.4% 0.7% 0.7% 0.7%
Payouts / FCF — 0.0% — 0.0% 0.0% 0.0% 0.0% 76.0% 87.8% 142.7%
Quality scores
Piotroski F-score — 6.0 6.0 3.0 5.0 8.0 7.0 8.0 6.0 5.0
Altman Z'' −2.0 −1.6 2.0 1.0 1.4 1.9 2.5 2.9 3.0 3.0
Accruals ratio −0.0% −5.6% −3.0% −5.7% −5.2% −2.5% −4.0% −3.3% −3.4% −1.5%

Source: SEC EDGAR XBRL filings (CIK 0001014739). Data updated October 16, 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.

↑ ↓ to move · ↵ to open