Ensign Group vs Option Care Health
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The short version
- Option Care Health is the larger business, with $5.6B of revenue in fiscal 2025 against $5.1B for Ensign Group.
- Ensign Group grew revenue faster (18.7%, against 13.0%).
- Ensign Group kept more of each dollar of sales as operating profit (8.4% operating margin, against 6.0%).
- Ensign Group earned a higher return on the capital invested in it (19.7%, against 11.4%).
- Investors pay more for each dollar of Ensign Group’s earnings: a P/E of 27.5x against 24.4x for Option Care Health.
| Latest fiscal year | ENSG · FY25 | OPCH · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.4B | $4.9B |
| Revenue | $5.1B | $5.6B |
| Free cash flow | — | $217M |
| Net income | $344M | $208M |
| Growth | ||
| Revenue growth | 18.7% | 13.0% |
| 5-year growth | 16.1% | 13.3% |
| Share count change | 1.1% | −5.5% |
| Profitability | ||
| Gross margin | 20.5% | 19.3% |
| Operating margin | 8.4% | 6.0% |
| Net margin | 6.8% | 3.7% |
| FCF margin | — | 3.8% |
| Return on capital | 19.7% | 11.4% |
| Return on equity | 16.9% | 15.2% |
| Balance sheet | ||
| Net debt | −$428M | $928M |
| Net debt / EBITDA | −0.8x | 2.3x |
| Dividends and buybacks | $34.4M | $310M |
| Valuation & quality | ||
| P/E | 27.5x | 24.4x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
ENSG $1.7B
OPCH $936M
FY17
ENSG $1.6B
OPCH $1.8B
FY18
ENSG $1.8B
OPCH $1.9B
FY19
ENSG $2.0B
OPCH $2.3B
FY20
ENSG $2.4B
OPCH $3.0B
FY21
ENSG $2.6B
OPCH $3.4B
FY22
ENSG $3.0B
OPCH $3.9B
FY23
ENSG $3.7B
OPCH $4.3B
FY24
ENSG $4.3B
OPCH $5.0B
FY25
ENSG $5.1B
OPCH $5.6B
ENSG
OPCH
Operating margin
FY16
ENSG 5.6%
OPCH −1.2%
FY17
ENSG 2.7%
OPCH 1.5%
FY18
ENSG 4.8%
OPCH 2.0%
FY19
ENSG 6.3%
OPCH −0.0%
FY20
ENSG 9.3%
OPCH 3.7%
FY21
ENSG 9.9%
OPCH 5.6%
FY22
ENSG 9.8%
OPCH 6.1%
FY23
ENSG 6.9%
OPCH 7.3%
FY24
ENSG 8.4%
OPCH 6.4%
FY25
ENSG 8.4%
OPCH 6.0%
ENSG
OPCH
Free cash flow
FY16
ENSG $8.2M
OPCH —
FY17
ENSG $25.5M
OPCH $12.9M
FY18
ENSG $159M
OPCH −$1.9M
FY19
ENSG $121M
OPCH $11.2M
FY20
ENSG —
OPCH $101M
FY21
ENSG —
OPCH $183M
FY22
ENSG —
OPCH $232M
FY23
ENSG —
OPCH $329M
FY24
ENSG —
OPCH $288M
FY25
ENSG —
OPCH $217M
ENSG
OPCH
Return on capital
FY16
ENSG 9.8%
OPCH −1.3%
FY17
ENSG 3.3%
OPCH 2.0%
FY18
ENSG 8.9%
OPCH 2.8%
FY19
ENSG 11.9%
OPCH −0.0%
FY20
ENSG 22.0%
OPCH 4.2%
FY21
ENSG 25.1%
OPCH 9.2%
FY22
ENSG 23.3%
OPCH 8.2%
FY23
ENSG 17.9%
OPCH 10.9%
FY24
ENSG 21.4%
OPCH 11.3%
FY25
ENSG 19.7%
OPCH 11.4%
ENSG
OPCH
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.