Encompass Health Corporation (EHC) 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 %
Q1 26	$1.49	$1.6	+7.4%	—	$1.6B	—
Q4 25	$1.3	$1.46	+12.3%	—	$1.5B	—
Q3 25	$1.19	$1.23	+3.4%	—	$1.5B	—
Q2 25	$1.21	$1.4	+15.7%	—	$1.5B	—
Q1 25	$1.19	$1.37	+15.1%	—	$1.5B	—
Q4 24	$1.02	$1.17	+14.7%	—	$1.4B	—
Q3 24	$0.94	$1.03	+9.6%	—	$1.4B	—
Q2 24	$1.01	$1.11	+9.9%	—	$1.3B	—
Q1 24	$0.94	$1.12	+19.1%	—	$1.3B	—
Q4 23	$0.82	$0.95	+15.9%	—	$1.2B	—
Q3 23	$0.77	$0.86	+11.7%	—	$1.2B	—
Q2 23	$0.75	$0.95	+26.7%	—	$1.2B	—
Q1 23	$0.7	$0.88	+25.7%	—	$1.2B	—
Q4 22	$0.83	$0.88	+6.0%	—	$1.1B	—
Q3 22	$0.64	$0.67	+4.7%	—	$1.1B	—
Q2 22	$0.97	$0.89	-8.2%	—	$1.1B	—

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	—	$5.62	—	—	$5.9B	—
FY24	—	$4.53	—	—	$5.4B	—
FY23	—	$3.51	—	—	$4.8B	—
FY22	—	$2.72	—	—	$4.3B

Total revenue

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

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$3.6B	$3.9B	$4.3B	$4.6B	$3.6B	$4B	$4.3B	$4.8B	$5.4B	$5.9B
YoY change	+16.9%	+7.45%	+9.28%	+7.66%	-22.6%	+12.6%	+8.31%	+10.4%	+11.9%	+10.5%

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	3.6B	3.9B	4.3B	4.6B	3.6B	4B	4.3B	4.8B	5.4B	5.9B
Cost of revenue	140M	149.3M	158.7M	167.9M	171M	184.2M	202.1M	218.3M	3.1B	254.4M
Gross profit	3.5B	3.8B	4.1B	4.4B	3.4B	3.8B	4.1B	4.6B	2.2B	5.7B
Gross margin	96.2%	96.2%	96.3%	96.4%	95.2%	95.4%	95.4%	95.5%	41.6%	95.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.2B	2.4B	2.7B	2.9B	2.1B	2.4B	2.6B	2.9B	266.5M	3.4B
Operating expenses	2.7B	2.9B	3.2B	3.5B	2.7B	3B	3.3B	3.6B	1.1B	4.3B
Operating income	648.8M	649.4M	681.6M	692.5M	530.4M	659.4M	630.2M	731.8M	864.5M	1.1B
Operating margin	17.8%	16.6%	15.9%	15%	14.9%	16.4%	14.5%	15.2%	16.1%	17.7%
Non-operating income, net	5.3M	1.4M	-41.1M	29.5M	6.2M	9.9M	-3.7M	18.9M	22.5M	23.1M
Pretax income	482M	496.4M	493.2M	562.3M	352.9M	505M	450.8M	607.2M	749.6M	953M
Income tax	163.9M	145.8M	118.9M	115.9M	74.7M	101.9M	100.1M	132.2M	150.2M	192.9M
Net income	318.1M	350.2M	375.4M	445.8M	368.8M	517.2M	365.9M	463M	596.6M	759.1M
Net margin	8.73%	8.95%	8.78%	9.68%	10.3%	12.9%	8.41%	9.64%	11.1%	12.8%
EBITDA	834.1M	845.3M	892.2M	948.4M	744.7M	889.9M	871.5M	1B	1.2B	1.4B
EPS	2.77	2.73	2.98	3.65	2.87	4.15	2.72	3.51	4.53	5.62
Diluted EPS	2.59	2.69	2.93	3.61	2.85	4.11	2.7	3.47	4.46	5.54

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	1.2B	1.2B	1.3B	1.3B	1.4B	1.4B	1.5B	1.5B	1.5B	1.5B	1.6B	1.6B
Cost of revenue	53.9M	58.6M	770.1M	758.1M	792.7M	819.1M	824.5M	830.8M	64.6M	64.5M	64.3M	66.1M
Gross profit	1.2B	1.2B	545.9M	543.1M	558.3M	585.9M	630.9M	626.9M	1.4B	1.5B	1.5B	1.5B
Gross margin	95.5%	95.3%	41.5%	41.7%	41.3%	41.7%	43.3%	43%	95.6%	95.8%	95.9%	95.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	722.6M	743.4M	64.2M	64.7M	68.4M	69.2M	67.2M	74.1M	855.8M	884M	891.5M	897.6M
Operating expenses	906.3M	928.2M	268.1M	254.6M	270.8M	275.6M	284.7M	287.9M	1.1B	1.1B	1.1B	1.2B
Operating income	179.4M	189.9M	207.5M	215.6M	209.1M	232.3M	267M	259.1M	243.6M	283.4M	301.6M	288.4M
Operating margin	14.9%	15.2%	15.8%	16.6%	15.5%	16.5%	18.3%	17.8%	16.5%	18.3%	19%	18.1%
Non-operating income, net	1.5M	9.8M	6.1M	4.7M	9.6M	2.1M	3.4M	8.1M	7.1M	4.5M	18.9M	6M
Pretax income	145M	164.8M	178.4M	186M	183.8M	201.4M	238.6M	236.8M	219.9M	257.7M	288.7M	261.6M
Income tax	30.3M	37.2M	38.3M	38.3M	36M	37.6M	41.6M	51M	44.9M	55.4M	56.4M	53.6M
Net income	113.4M	119.1M	138.8M	146.5M	147.1M	164.2M	196.5M	184.9M	174.6M	203.1M	248.2M	207.4M
Net margin	9.4%	9.55%	10.5%	11.3%	10.9%	11.7%	13.5%	12.7%	11.8%	13.1%	15.6%	13%
EBITDA	248.2M	269.8M	283.9M	293.2M	297.5M	312.6M	349.6M	347.1M	333.1M	374.3M	408M	388M
EPS	0.85	0.87	1.12	1.13	1.08	1.2	1.5	1.41	1.26	1.45	1.96	1.55
Diluted EPS	0.84	0.86	1.1	1.12	1.06	1.18	1.48	1.39	1.24	1.43	1.93	1.54

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.9B	3.7B	4.8B	5.4B	6.5B	5.1B	5.9B	6.6B	9.2B	10.7B	12.2B
Enterprise value	5.9B	6.2B	7.3B	8.7B	9.8B	8.6B	8.9B	9.5B	11.9B	13.3B	15.8B
Shares outstanding	89.1M	93.7M	97.9M	98M	98.6M	99M	99.2M	99.5M	99.9M	100.5M	100.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	9.19	10.5	12.8	12.1	17.6	9.94	16.2	14.3	15.5	14.1	20.7
P/S	0.8	0.94	1.12	1.17	1.82	1.28	1.36	1.38	1.72	1.8	1.97
P/B	2.74	2.28	2.64	2.79	3.24	2.14	3.19	2.89	3.24	3.26	4.72
EV/EBITDA	7.07	7.34	8.13	9.12	13.2	9.63	10.2	9.27	9.98	9.48	10.8
EV/Sales	1.62	1.59	1.7	1.88	2.75	2.13	2.05	1.98	2.21	2.24	2.54
Earnings yield	10.9%	9.51%	7.81%	8.25%	5.69%	10.1%	6.17%	6.97%	6.47%	7.12%	4.83%
FCF yield	15%	11.1%	10.1%	4.28%	4.63%	3.31%	2.05%	4.03%	3.91%	4.12%	1.88%
PEG	—	—	—	—	—	—	—	—	—	—	2.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	96.2%	96.2%	96.3%	96.4%	95.2%	95.4%	95.4%	95.5%	41.6%	95.7%	95.9%
Operating margin	17.8%	16.6%	15.9%	15%	14.9%	16.4%	14.5%	15.2%	16.1%	17.7%	18.1%
Net margin	8.73%	8.95%	8.78%	9.68%	10.3%	12.9%	8.41%	9.64%	11.1%	12.8%	10%
ROE	29.8%	21.7%	20.6%	23.1%	18.4%	21.6%	19.7%	20.2%	20.9%	23.2%	25%
ROA	6.79%	7.2%	7.25%	7.33%	5.72%	7.53%	6.49%	7.59%	9.13%	10.7%	9.8%
ROIC	10.6%	11.1%	12.1%	10.6%	7.86%	9.03%	10.1%	11.1%	12.6%	14.2%	14.3%
Return on tangible assets	6.5K%	309.6%	433.5%	86.1%	39%	12.7%	14.4%	15.5%	17.7%	19.8%	19.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.38	1.36	0.98	1.05	1.32	1.23	1.25	1.28	1.05	1.08	1.19
Quick ratio	1.38	1.36	0.98	1.05	1.32	1.23	1.25	1.28	1.05	1.08	1.19
Debt / equity	2.83	1.59	1.38	1.73	1.77	1.45	1.61	1.28	0.95	0.83	0.82
Debt / assets	0.64	0.53	0.49	0.55	0.55	0.51	0.53	0.48	0.42	0.38	0.38
Net debt / EBITDA	3.57	2.99	2.74	3.43	4.46	3.86	3.41	2.79	2.21	1.88	1.82
Interest coverage	3.8	4.22	4.35	4.52	2.92	4.07	3.57	5.23	6.46	8.74	9.18
Effective tax rate	34%	29.4%	24.1%	20.6%	21.2%	20.2%	22.2%	21.8%	20%	20.2%	20.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	40.9	41.8	43.7	47	36.2	40.6	43.8	48.3	53.8	59.1	62.2
EPS (basic)	2.77	2.73	2.98	3.65	2.87	4.15	2.72	3.51	4.53	5.62	5.62
EPS (diluted)	2.59	2.69	2.93	3.61	2.85	4.11	2.7	3.47	4.46	5.54	5.99
Book value per share	12	17.2	18.6	19.7	20.3	24.2	18.8	23.1	28.5	32.6	26.3
FCF per share	4.91	4.37	4.97	2.36	3.04	1.72	1.23	2.69	3.61	4.37	4.13
Cash per share	0.45	0.58	0.71	0.97	2.27	0.5	0.22	0.69	0.85	0.72	1.09
Capex per share	1.99	2.41	2.6	3.8	3.98	5.51	5.89	5.86	6.43	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.88%	5.77%	5.95%	8.09%	11%	13.6%	13.4%	12.1%	12%	—	—
Capex / operating cash flow	29.1%	35.5%	37.2%	56.9%	68.8%	85.7%	86.6%	70.8%	61.7%	—	—
Payout ratio	26.3%	26.1%	26.9%	24.4%	30.3%	21.7%	27.1%	13%	10.5%	9.37%	12.7%
Dividend yield	2.87%	2.48%	2.1%	2.01%	1.72%	2.18%	1.67%	0.91%	0.68%	0.67%	0.61%

Yield

0.61%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.19

ex-dividend Jul 1, 2026

Payout ratio

13%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 1, 2026	$0.19
Apr 1, 2026	$0.19
Jan 2, 2026	$0.19
Oct 1, 2025	$0.19
Jul 1, 2025	$0.17

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	$1.2B	$1.2B	$1.3B	$1.3B	$1.4B	$1.4B	$1.5B	$1.5B	$1.5B	$1.5B	$1.6B	$1.6B
YoY change	+10.8%	+9.63%	+13.4%	+9.61%	+11.9%	+12.7%	+10.6%	+12%	+9.36%	+9.94%	+9.01%	+9.58%

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	40.5M	54.4M	69.2M	94.8M	224M	49.4M	21.8M	69.1M	85.4M	72.2M
Receivables	443.8M	472.1M	467.7M	506.1M	572.8M	515.8M	536.8M	611.6M	598.8M	619.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	654.5M	702.2M	662.1M	755.8M	948.6M	921.4M	717.2M	841.8M	886.9M	905.9M
Property, plant & equipment	-209.6M	-195.3M	-240.4M	151M	95.3M	142.1M	131.9M	106.7M	-12.5M	-11.5M
Goodwill & intangibles	4.7B	4.8B	5.1B	5.6B	5.5B	2.8B	3.1B	3.1B	3.2B	3.3B
Total assets	4.7B	4.9B	5.2B	6.1B	6.4B	6.9B	5.6B	6.1B	6.5B	7.1B
Accounts payable	68.3M	78.4M	90M	94.6M	115M	134M	132.9M	170M	171M	178.2M
Short-term debt	37.1M	32.3M	35.8M	79.7M	83.1M	61.3M	50.8M	48.9M	164.9M	70.1M
Total current liabilities	475.6M	517.5M	672.5M	721M	717.3M	748.8M	575.9M	656.4M	841M	836.4M
Long-term debt	3B	2.5B	2.5B	3.3B	3.5B	3.4B	2.9B	2.9B	2.5B	2.6B
Total liabilities	3.6B	3.2B	3.4B	4.1B	4.4B	4.5B	3.8B	3.8B	3.7B	3.8B
Shareholders' equity	1.1B	1.6B	1.8B	1.9B	2B	2.4B	1.9B	2.3B	2.8B	3.3B
Total debt	3B	2.6B	2.5B	3.3B	3.5B	3.5B	3B	2.9B	2.7B	2.7B
Net debt	3B	2.5B	2.4B	3.3B	3.3B	3.4B	3B	2.9B	2.6B	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	99.7M	69.1M	134.4M	154.4M	147.8M	85.4M	95.8M	99.1M	48.7M	72.2M	110.5M	107.7M
Receivables	535.9M	611.6M	619.3M	589.7M	576.4M	598.8M	623.4M	612.5M	610.8M	619.2M	676M	687.3M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	813.7M	841.8M	929.8M	938.1M	933.9M	886.9M	910.9M	918.1M	869.8M	905.9M	1B	1B
Property, plant & equipment	3.4B	106.7M	3.6B	3.7B	3.7B	-12.5M	3.9B	4B	4.1B	-11.5M	4.4B	4.5B
Goodwill & intangibles	3.1B	3.1B	3.1B	3.2B	3.2B	3.2B	3.2B	3.2B	3.2B	3.3B	3.2B	3.3B
Total assets	6B	6.1B	6.2B	6.4B	6.5B	6.5B	6.6B	6.8B	6.9B	7.1B	7.3B	7.5B
Accounts payable	165.4M	170M	166.1M	164.2M	170.3M	171M	159.1M	174.5M	138.4M	178.2M	204M	221.6M
Short-term debt	48.8M	48.9M	51M	59.1M	259.5M	164.9M	165.4M	164.7M	64.9M	70.1M	69.8M	63.4M
Total current liabilities	639.2M	656.4M	680.3M	694.5M	897.4M	841M	856M	865.1M	762M	836.4M	876.8M	873.4M
Long-term debt	2.9B	2.9B	2.9B	2.9B	2.5B	2.5B	2.5B	2.5B	2.6B	2.6B	2.7B	2.8B
Total liabilities	3.8B	3.8B	3.8B	3.9B	3.7B	3.7B	3.7B	3.7B	3.7B	3.8B	3.9B	4B
Shareholders' equity	2.2B	2.3B	2.4B	2.5B	2.7B	2.8B	2.9B	3.1B	3.2B	3.3B	3.4B	3.5B
Total debt	2.9B	2.9B	2.9B	2.9B	2.8B	2.7B	2.7B	2.7B	2.7B	2.7B	2.8B	2.8B
Net debt	2.8B	2.9B	2.8B	2.8B	2.7B	2.6B	2.6B	2.6B	2.6B	2.6B	2.7B	2.7B

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	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	318.1M	350.6M	374.3M	446.4M	278.2M	403.1M	350.7M	475M	599.4M	760.1M
Depreciation & amortization	172.6M	183.8M	199.7M	218.7M	203M	219.6M	243.6M	273.9M	299.6M	327.9M
Stock-based compensation	27.4M	47.7M	85.9M	114.4M	25.6M	29.1M	29.2M	50.6M	48.3M	56.5M
Change in working capital	-54M	-19.2M	19.7M	-157.9M	15.3M	-37.7M	-7.2M	5M	58.8M	19.6M
Operating cash flow	610.9M	635.8M	683.7M	654.3M	570.6M	636.7M	674.2M	823.1M	1B	1.2B
Capital expenditure	-177.7M	-225.8M	-254.5M	-372.4M	-392.8M	-545.7M	-584.1M	-583.1M	-642.5M	—
Investing cash flow	-206.1M	-264.4M	-404.5M	-641M	-392.7M	-665.7M	-623.5M	-602.8M	-653.3M	-28.2M
Dividends paid	-83.8M	-91.5M	-100.8M	-108.7M	-111.8M	-112.2M	-99M	-60.4M	-62.8M	-71.1M
Share repurchases	-65.6M	-38.1M	0	-45.9M	-6.1M	0	0	—	-31.1M	-158M
Financing cash flow	-416.4M	-386.5M	-321.2M	-571.8M	-179.3M	-329.9M	-660.8M	-197.2M	-330.6M	-431.2M
Net change in cash	-11.6M	-15.1M	-42M	-558.5M	-1.4M	-358.9M	-610.1M	23.1M	57.3M	716.2M
Free cash flow	437.3M	409.6M	486.2M	231.2M	300.1M	170.1M	121.7M	267.7M	360.3M	439.2M

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	114.7M	127.6M	140.1M	147.7M	147.8M	163.8M	197M	185.8M	175M	202.3M	232.3M	208M
Depreciation & amortization	67.3M	70.1M	70.3M	72.9M	78.4M	78M	79.2M	79.9M	82.4M	86.4M	87.3M	90.4M
Stock-based compensation	13.7M	13.4M	9.3M	13.6M	12.9M	12.5M	9.5M	14.3M	14.3M	18.4M	11.5M	13.8M
Change in working capital	12.5M	-53M	-1.6M	-11.8M	54.3M	-25.4M	-7.5M	-3.9M	11.2M	300K	-33.8M	-27.1M
Operating cash flow	212.7M	168.8M	239.5M	219.4M	290.6M	248.4M	289.3M	270.2M	270.8M	346M	313.1M	282.6M
Capital expenditure	-138.8M	-222.6M	-139.4M	-156.9M	-147.5M	-198.7M	-163.1M	—	—	—	—	—
Investing cash flow	-162.2M	-208.1M	-129.7M	-158.4M	-161.5M	-203.7M	-158.5M	-8.5M	-14.2M	-10.1M	12.3M	-15.3M
Dividends paid	-15M	-14.9M	-15.9M	-14.9M	-15M	-17M	-18M	-17.1M	-17M	-19M	-20.3M	-18.9M
Share repurchases	—	—	—	—	-6.8M	-7.5M	-32.1M	-24.7M	-24.9M	-76.3M	-71.6M	-74.2M
Financing cash flow	-65.8M	-29.9M	-40.6M	-32.8M	-89.5M	-150.9M	-130.4M	-90.2M	-113.2M	-97.4M	-102.5M	-76.9M
Net change in cash	-15.3M	-69.2M	69.2M	28.2M	39.6M	-106.2M	400K	171.5M	143.4M	238.5M	222.9M	190.4M
Free cash flow	76.4M	-21.6M	99.4M	60.5M	120.3M	80.1M	125.5M	113.3M	83.7M	116.7M	150.7M	62.3M

Date	Ratio
Jul 1, 2022	1257:1000
Oct 26, 2006	1:5
Mar 18, 1997	2:1
Apr 18, 1995	2:1
Jan 2, 1992	3:2

Encompass Health Corporation 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

Dividend per share

Recent payouts

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

Split history