BrightSpring Health Services, Inc. (BTSG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.4	$0.45	+12.5%	—	$3.9B	—
Q1 26	$0.31	$0.39	+25.8%	—	$3.6B	—
Q4 25	$0.35	$0.33	-5.7%	—	$3.6B	—
Q3 25	$0.26	$0.3	+15.4%	—	$3.3B	—
Q2 25	$0.19	$0.22	+15.8%	—	$3.1B	—
Q1 25	$0.09	$0.19	+111.1%	—	$2.9B	—
Q4 24	$0.21	$0.22	+4.8%	—	$3.1B	—
Q3 24	$0.16	$0.11	-31.3%	—	$2.9B	—
Q2 24	$0.13	$0.1	-23.1%	—	$2.7B	—
Q1 24	$0.05	$0.12	+140.0%	—	$2.6B	—
Q4 23	$0.13	$0.11	-15.4%	—	$2.4B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.94	—	—	$12.9B	—
FY24	—	-$0.09	—	—	$11.3B	—
FY23	—	-$0.9	—	—	$8.8B	—
FY22	—	-$0.31	—	—	$7.7B	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.5B	$4.5B	$5.6B	$6.7B	$7.7B	$8.8B	$11.3B	$12.9B
YoY change	—	+78.4%	+23.3%	+20%	+15.3%	+14.3%	+27.6%	+14.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.5B	4.5B	5.6B	6.7B	7.7B	8.8B	11.3B	12.9B
Cost of revenue	2.2B	3.7B	4.5B	5.4B	6.4B	7.4B	9.7B	11.4B
Gross profit	375.9M	833.9M	1B	1.2B	1.4B	1.4B	1.6B	1.5B
Gross margin	14.8%	18.4%	18.8%	18.6%	17.5%	16.2%	14.1%	11.8%
Research & development	—	—	—	—	—	—	—	—
Selling, general & administrative	312.1M	770.6M	883.5M	1B	1.1B	1.3B	1.4B	1.2B
Operating expenses	312.1M	770.6M	883.5M	1B	1.1B	1.3B	1.4B	1.2B
Operating income	63.8M	63.3M	165.2M	234.2M	228.7M	147.2M	206.4M	295.3M
Operating margin	2.51%	1.4%	2.96%	3.5%	2.96%	1.67%	1.83%	2.29%
Non-operating income, net	—	—	—	—	-40.9M	—	-12.7M	—
Pretax income	-10.8M	-103.6M	26.2M	68.9M	-45.8M	-177.4M	-34.7M	137.9M
Income tax	-3.2M	-32.5M	5.1M	17.6M	8.5M	-20.6M	-14.2M	33.1M
Net income	-7.6M	-71.1M	21.2M	51.3M	-54.2M	-156.8M	-20.5M	189.1M
Net margin	-0.3%	-1.57%	0.38%	0.77%	-0.7%	-1.78%	-0.18%	1.46%
EBITDA	144.9M	218.2M	346.7M	433.3M	432.7M	349.5M	410.9M	459.5M
EPS	-0.04	-0.42	0.12	0.29	-0.31	-0.9	-0.09	0.94
Diluted EPS	-0.04	-0.42	0.12	0.29	-0.31	-0.9	-0.09	0.87

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.3B	2.4B	2.6B	2.7B	2.9B	3.1B	2.9B	3.1B	3.3B	3.6B	3.6B	3.9B
Cost of revenue	1.9B	2B	2.2B	2.3B	2.5B	2.6B	2.5B	2.8B	2.9B	3.1B	3.1B	3.4B
Gross profit	358.3M	368.7M	369.4M	389M	408.1M	421.9M	338.4M	374.9M	392M	412.5M	482.2M	492.7M
Gross margin	15.9%	15.5%	14.3%	14.2%	14%	13.8%	11.8%	11.9%	11.8%	11.6%	13.3%	12.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	410.5M	300.5M	361.3M	326.6M	351.3M	342.8M	287.6M	326.3M	304.2M	304.4M	360.8M	362.4M
Operating expenses	410.5M	300.5M	361.3M	326.6M	351.3M	342.8M	287.6M	326.3M	304.2M	304.4M	360.8M	362.4M
Operating income	-52.3M	68.3M	8.1M	62.4M	56.8M	79.1M	50.7M	48.6M	87.8M	108.1M	121.4M	130.4M
Operating margin	-2.32%	2.87%	0.31%	2.29%	1.96%	2.59%	1.76%	1.54%	2.63%	3.04%	3.36%	3.37%
Non-operating income, net	—	—	-12.7M	—	—	0	—	—	—	—	—	—
Pretax income	-135.9M	-14.8M	-69.7M	10M	779K	24.2M	9M	9.8M	49.6M	69.6M	82.8M	93.5M
Income tax	-5.8M	-7.6M	-23.3M	-9.5M	9.8M	8.8M	-240K	1.2M	12.1M	20M	8.6M	6.9M
Net income	-130.1M	-7.2M	-46.4M	19.4M	-9M	15.4M	29M	27.5M	55.2M	77.3M	148.6M	84.2M
Net margin	-5.77%	-0.3%	-1.8%	0.71%	-0.31%	0.5%	1.01%	0.87%	1.66%	2.18%	4.11%	2.17%
EBITDA	-1.5M	119.3M	57M	112.5M	107.4M	133.9M	92.9M	90.4M	128.6M	147.6M	160.5M	171.8M
EPS	-0.76	—	-0.26	0.1	-0.04	0.08	0.15	0.14	0.27	0.38	0.73	0.41
Diluted EPS	-0.76	—	-0.26	0.1	-0.04	0.08	0.14	0.13	0.27	0.35	0.67	0.38

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	—	—	7.6B	11.2B
Enterprise value	—	—	—	—	—	—	—	10.2B	13.5B
Shares outstanding	171.2M	171.2M	171.2M	171.2M	171.2M	171.2M	193M	202.6M	202.6M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	40.1	50.5
P/S	—	—	—	—	—	—	—	0.59	0.78
P/B	—	—	—	—	—	—	—	4.02	5.69
EV/EBITDA	—	—	—	—	—	—	—	22.2	21.5
EV/Sales	—	—	—	—	—	—	—	0.79	0.94
Earnings yield	—	—	—	—	—	—	—	2.49%	1.98%
FCF yield	—	—	—	—	—	—	—	5.2%	9.19%
PEG	—	—	—	—	—	—	—	—	0.26

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	14.8%	18.4%	18.8%	18.6%	17.5%	16.2%	14.1%	11.8%	12.7%
Operating margin	2.51%	1.4%	2.96%	3.5%	2.96%	1.67%	1.83%	2.29%	3.37%
Net margin	-0.3%	-1.57%	0.38%	0.77%	-0.7%	-1.78%	-0.18%	1.46%	2.55%
ROE	—	-10%	2.88%	6.4%	-6.91%	-25.6%	-1.24%	10%	13%
ROA	—	-1.86%	0.47%	0.93%	-1%	-2.83%	-0.35%	2.95%	4.88%
ROIC	—	2.02%	3.86%	3.85%	5.14%	3.45%	4.59%	4.98%	9.64%
Return on tangible assets	—	6.25%	-2.14%	-2.53%	3.26%	10.8%	1.97%	91.4%	-321.6%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	1.4	1.74	1.32	1.44	1.17	1.33	1.57	1.59
Quick ratio	—	1.08	1.33	0.99	0.98	0.84	0.88	1.12	1.22
Debt / equity	—	3.44	4.04	4.71	4.69	5.99	1.76	1.44	1.16
Debt / assets	—	0.64	0.65	0.68	0.68	0.66	0.49	0.42	0.4
Net debt / EBITDA	—	11.1	7.82	8.59	8.47	10.5	6.92	5.7	3.02
Interest coverage	0.85	0.38	1.19	1.42	0.8	0.45	0.85	1.88	2.94
Effective tax rate	0%	0%	19.4%	25.6%	0%	0%	0%	24%	16.1%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14.8	26.4	32.6	39.1	45.1	51.6	58.4	63.7	70.1
EPS (basic)	-0.04	-0.42	0.12	0.29	-0.31	-0.9	-0.09	0.94	0.94
EPS (diluted)	-0.04	-0.42	0.12	0.29	-0.31	-0.9	-0.09	0.87	1.12
Book value per share	—	4.15	4.3	4.68	4.58	3.58	8.56	9.31	9.94
FCF per share	0.25	0.35	1	1.23	-0.44	0.8	-0.3	1.95	1.83
Cash per share	—	0.11	1.53	0.27	0.08	0.08	0.32	0.44	2.67
Capex per share	0.19	0.3	0.3	0.35	0.41	0.43	0.42	—	—

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.31%	1.13%	0.93%	0.88%	0.91%	0.83%	0.72%	—	—
Capex / operating cash flow	52.3%	138.5%	22.6%	27%	-1.2K%	412.3%	78%	—	—
Payout ratio	—	—	—	—	—	—	—	—	0%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	18.3M	262M	46.7M	13.6M	13.1M	61.3M	88.4M
Receivables	567.1M	625.6M	730.3M	775.8M	881.6M	1B	989.7M
Inventory	198.5M	300.1M	299.2M	430.5M	402.8M	640.6M	815.2M
Total current assets	870.7M	1.3B	1.2B	1.3B	1.5B	1.9B	2.9B
Property, plant & equipment	409M	420.4M	486.9M	438.4M	477.1M	462.4M	366.8M
Goodwill & intangibles	5B	5.5B	7.5B	7.1B	7B	7B	6.2B
Total assets	3.8B	4.5B	5.5B	5.4B	5.5B	5.9B	6.4B
Accounts payable	252.8M	355.8M	408.1M	526.9M	641.6M	941.3M	1.2B
Short-term debt	89.5M	91M	125.2M	107.9M	114.5M	130.5M	102.1M
Total current liabilities	622M	742.8M	892.2M	932.5M	1.2B	1.4B	1.8B
Long-term debt	2.4B	2.9B	3.6B	3.6B	3.6B	2.8B	2.6B
Total liabilities	3.1B	3.8B	4.7B	4.7B	4.9B	4.3B	4.5B
Shareholders' equity	710.2M	735.4M	800.5M	784.1M	612.5M	1.7B	1.9B
Total debt	2.4B	3B	3.8B	3.7B	3.7B	2.9B	2.7B
Net debt	2.4B	2.7B	3.7B	3.7B	3.7B	2.8B	2.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	11.6M	13.1M	58M	25M	36M	61.3M	52.3M	70.1M	140.3M	88.4M	888.8M	550.4M
Receivables	875.8M	881.6M	990.6M	984.8M	1B	1B	975.3M	972.7M	1B	989.7M	1.1B	1.1B
Inventory	378.4M	402.8M	373.7M	374.3M	478.3M	640.6M	533.6M	625.5M	639.2M	815.2M	560.2M	575M
Total current assets	1.4B	1.5B	1.6B	1.5B	1.7B	1.9B	2.5B	2.6B	2.8B	2.9B	2.7B	2.5B
Property, plant & equipment	490M	477.1M	521.8M	504.2M	507.7M	462.4M	339.6M	341.7M	335.1M	366.8M	375.2M	380.8M
Goodwill & intangibles	7B	7B	6.9B	7B	7B	7B	5.9B	5.8B	5.8B	6.2B	6.1B	6.1B
Total assets	5.5B	5.5B	5.7B	5.6B	5.8B	5.9B	5.8B	5.9B	6B	6.4B	6.2B	6B
Accounts payable	474.9M	641.6M	655.8M	669.4M	783.8M	941.3M	868.1M	965.3M	954.5M	1.2B	1.1B	1.1B
Short-term debt	111M	114.5M	137.4M	128.9M	131M	130.5M	90.7M	93.2M	94.8M	102.1M	105.1M	93M
Total current liabilities	1B	1.2B	1.2B	1.1B	1.3B	1.4B	1.5B	1.5B	1.5B	1.8B	1.5B	1.6B
Long-term debt	3.7B	3.6B	2.7B	2.8B	2.8B	2.8B	2.6B	2.6B	2.6B	2.6B	2.6B	2.3B
Total liabilities	4.8B	4.9B	4.1B	4B	4.2B	4.3B	4.2B	4.2B	4.2B	4.5B	4.2B	3.9B
Shareholders' equity	659.2M	612.5M	1.6B	1.6B	1.6B	1.7B	1.7B	1.7B	1.8B	1.9B	2B	2.1B
Total debt	3.8B	3.7B	2.9B	2.9B	3B	2.9B	2.7B	2.7B	2.7B	2.7B	2.7B	2.4B
Net debt	3.8B	3.7B	2.8B	2.9B	2.9B	2.8B	2.7B	2.6B	2.6B	2.6B	1.8B	1.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-7.6M	-71.1M	21.2M	51.3M	-54.2M	-156.8M	-20.5M	189.1M
Depreciation & amortization	81.2M	154.9M	181.5M	199.2M	204M	202.3M	204.5M	164.3M
Stock-based compensation	1.4M	3.7M	6.3M	4.5M	3.5M	3.9M	69.2M	70.1M
Change in working capital	-10.5M	-26.8M	-10.6M	-63M	-154.2M	702K	-133.1M	-81.2M
Operating cash flow	63.4M	37M	230.2M	219.7M	-5.7M	17.8M	103.7M	490.2M
Capital expenditure	-33.2M	-51.2M	-51.9M	-59.3M	-70.1M	-73.5M	-80.9M	—
Investing cash flow	-37.3M	-1.5B	-452.9M	-1.2B	45.4M	-134.4M	-140.2M	-209.6M
Dividends paid	—	—	—	—	—	—	—	—
Share repurchases	0	-12.3M	-1.1M	-417K	0	-650K	-650K	-43.2M
Financing cash flow	-32.2M	1.4B	473.6M	705M	-74M	-67.5M	163.1M	-183.1M
Net change in cash	-6.1M	-86.2M	250.9M	-266M	-34.4M	-184.1M	126.6M	97.4M
Free cash flow	43.3M	59.7M	170.7M	210.9M	-74.8M	137.3M	-57.1M	394.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-130.1M	-7.2M	-46.4M	19.4M	-9M	15.4M	29M	27.5M	55.2M	77.3M	148.6M	84.2M
Depreciation & amortization	50.8M	51M	48.9M	50.1M	50.6M	54.9M	42.2M	41.8M	40.8M	39.5M	39.1M	41.4M
Stock-based compensation	825K	1.8M	24.8M	15.1M	15.2M	14M	15.7M	22.8M	17.3M	14.4M	3.7M	19.5M
Change in working capital	41.7M	122.4M	-65.4M	7.3M	-45.2M	-29.8M	-37.7M	-26.3M	-86.8M	68.7M	25.6M	-55.3M
Operating cash flow	-43.1M	156.8M	-65.6M	75.8M	36.1M	57.4M	57.8M	49.1M	107.9M	231.6M	122.9M	43.9M
Capital expenditure	-17.9M	-16.8M	-21.8M	-23.7M	-20M	-15.3M	-17.6M	—	—	—	—	—
Investing cash flow	-54.6M	-17M	-30.9M	-57.7M	-35.8M	-15.8M	-24.2M	1.2M	-8M	-196.2M	768.9M	834K
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-325K	-325K	-325K	-325K	0	0	0	0	0	-43.2M	-60M	-60M
Financing cash flow	20.9M	-133.2M	154.8M	39.5M	19.4M	-50.6M	-86.4M	-17M	-18.7M	-61.1M	-82.1M	-374.5M
Net change in cash	-76.8M	6.6M	58.2M	57.6M	19.7M	-9M	-52.8M	33.3M	81.2M	-25.8M	809.8M	-329.7M
Free cash flow	15.8M	145.6M	-100.7M	-39M	7.2M	75.3M	84M	24.7M	92.2M	193.9M	101.4M	14.9M

BrightSpring Health Services, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement