Company Valuation: AdaptHealth Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,234 2,590 984.1 1,253 1,320 747.1 - -
Change - -19.93% -62% 27.33% 5.31% -43.38% - -
Enterprise Value (EV) 1 5,303 4,732 3,055 3,124 2,950 2,630 2,637 2,638
Change - -10.78% -35.43% 2.28% -5.59% -10.85% 0.27% 0.05%
P/E 36.5x 58.2x -1.44x 15.6x -19.2x -4.39x 605x 15.8x
PBR 1.59x 1.19x 0.67x 0.81x 0.88x 0.49x 0.46x 0.42x
PEG - -1.1x 0x -0x 0x -0x -6x 0x
Capitalization / Revenue 1.32x 0.87x 0.31x 0.38x 0.41x 0.26x 0.25x 0.24x
EV / Revenue 2.16x 1.59x 0.95x 0.96x 0.91x 0.91x 0.88x 0.84x
EV / EBITDA 9.37x 7.97x 4.55x 4.54x 4.78x 5.23x 4.81x 4.04x
EV / EBIT 17.2x 19.5x 10.6x 9.66x 12.6x 43.3x 26.8x 12.6x
EV / FCF 73.3x -270x 21.3x 13.3x 13.4x 30x 5.82x -
FCF Yield 1.36% -0.37% 4.69% 7.55% 7.44% 3.33% 17.2% -
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.67 0.33 -5.06 0.61 -0.52 -1.275 0.00925 0.3554
Distribution rate - - - - - - - -
Net sales 1 2,455 2,971 3,200 3,261 3,245 2,877 2,987 3,130
EBITDA 1 565.9 593.8 670.8 688.7 616.7 502.8 547.9 652.4
EBIT 1 307.9 242.6 288 323.3 234.8 60.75 98.31 209.6
Net income 1 156.2 69.32 -678.9 90.42 -70.79 -169.6 -3.899 73.15
Net Debt 1 2,069 2,142 2,071 1,871 1,630 1,883 1,890 1,891
Reference price 2 24.460 19.220 7.290 9.520 9.960 5.600 5.600 5.600
Nbr of stocks (in thousands) 132,215 134,732 134,991 131,620 132,489 133,409 - -
Announcement Date 2/24/22 2/27/23 2/27/24 2/25/25 2/24/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-4.39x0.91x5.23x-.--% 747M
27.63x3.84x14.83x2.64% 169B
18.25x3.37x12.04x3.26% 110B
21.42x4.21x14.72x1.31% 106B
25.26x2.48x10.04x2.86% 73.87B
16.92x0.2x12.42x0.77% 58.98B
29.48x7.29x18.84x1.36% 51.28B
34.07x3.32x11.38x2.22% 48.16B
35.11x8.73x24.55x-.--% 40.84B
34.3x6.01x18.87x-.--% 32.21B
Average 23.80x 4.04x 14.29x 1.44% 69.09B
Weighted average by Cap. 25.32x 3.97x 14.46x 1.99%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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