NASDAQ : BTSG
BrightSpring Health Services, Inc. — Financial statements
Healthcare · Health Information Services · United States
Last price 60.22 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 12.55B
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Financial statements
BrightSpring Health Services, Inc. (BTSG) reported revenue of 15.25B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 15.25B | 12.91B | 10.07B | 7.69B | 7.72B | 6.70B |
| Cost of Revenue | 13.34B | 11.39B | 8.81B | 6.55B | 6.37B | 5.45B |
| Gross Profit | 1.91B | 1.52B | 1.27B | 1.14B | 1.35B | 1.25B |
| Selling, General & Admin | 1.37B | 1.20B | 1.10B | 1.07B | 1.15B | 1.02B |
| Operating Expenses | 1.37B | 1.20B | 1.10B | 1.07B | 1.15B | 1.03B |
| Operating Income | 535.46M | 322.38M | 164.32M | 68.62M | 206.29M | 221.38M |
| Interest Expense | -145.07M | -157.31M | -190.55M | -271.90M | -233.58M | -165.32M |
| Other Non Operating Income (Expenses) | -27.08M | -8.00M | -4.90M | -4.10M | ||
| EBT Excluding Unusual Items | 390.39M | 165.07M | -53.31M | -211.28M | -32.20M | 51.96M |
| Merger & Restructuring Charges | -2.40M | -14.50M | -3.40M | |||
| Impairment of Goodwill | -40.86M | |||||
| Asset Writedown | -12.63M | -12.63M | -4.00M | -2.50M | -2.50M | -3.40M |
| Legal Settlements | -21.89M | |||||
| Other Unusual Items | -12.73M | 29.80M | 20.30M | |||
| Pretax Income | 375.37M | 137.94M | -95.32M | -213.77M | -45.75M | 68.86M |
| Income Tax Expense | 64.13M | 33.15M | -26.39M | -31.51M | 8.46M | 17.60M |
| Earnings From Continuing Operations | 311.24M | 104.80M | -68.93M | -182.27M | -54.22M | 51.26M |
| Earnings From Discontinued Operations | 99.20M | 84.32M | 48.41M | 25.43M | ||
| Net Income to Company | 410.44M | 189.11M | -20.52M | -156.84M | -54.22M | 51.26M |
| Minority Interest in Earnings | -163.00K | 1.55M | 2.46M | 2.23M | 312.00K | -1.46M |
| Net Income | 410.27M | 190.67M | -18.06M | -154.60M | -53.91M | 49.80M |
| Net Income to Common | 410.27M | 190.67M | -18.06M | -154.60M | -53.91M | 49.80M |
| Shares Outstanding (Basic) | 205.46M | 202.56M | 193.00M | 117.87M | 117.84M | 117.59M |
| Shares Outstanding (Diluted) | 221.61M | 219.77M | 193.00M | 117.87M | 117.84M | 121.79M |
| EPS (Basic) | 2.00 | 0.94 | -0.09 | -1.31 | -0.46 | 0.42 |
| EPS (Diluted) | 1.84 | 0.86 | -0.09 | -1.31 | -0.46 | 0.41 |
| Free Cash Flow | 492.41M | 394.69M | -57.14M | 137.26M | -74.77M | 210.90M |
| Free Cash Flow Per Share | 2.22 | 1.80 | -0.30 | 1.16 | -0.63 | 1.73 |
| Gross Margin | 12.50% | 11.76% | 12.57% | 14.81% | 17.54% | 18.63% |
| Operating Margin | 3.51% | 2.50% | 1.63% | 0.89% | 2.67% | 3.31% |
| Profit Margin | 2.69% | 1.48% | -0.18% | -2.01% | -0.70% | 0.74% |
| Free Cash Flow Margin | 3.23% | 3.06% | -0.57% | 1.79% | -0.97% | 3.15% |
| EBITDA | 693.87M | 485.33M | 326.46M | 229.18M | 410.26M | 420.54M |
| EBITDA Margin | 4.55% | 3.76% | 3.24% | 2.98% | 5.31% | 6.28% |
| D&A For EBITDA | 158.41M | 162.95M | 162.14M | 160.56M | 203.97M | 199.16M |
| EBIT | 535.46M | 322.38M | 164.32M | 68.62M | 206.29M | 221.38M |
| EBIT Margin | 3.51% | 2.50% | 1.63% | 0.89% | 2.67% | 3.31% |
| Effective Tax Rate | 17.08% | 24.03% | 25.56% | |||
| Revenue as Reported | 15.25B | 12.91B | 10.07B | 7.69B | 7.72B | 6.70B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 717.84M | 88.37M | 60.95M | 13.07M | 13.63M | 46.73M |
| Trading Asset Securities | 10.63M | |||||
| Cash & Short-Term Investments | 717.84M | 88.37M | 71.59M | 13.07M | 13.63M | 46.73M |
| Accounts Receivable | 1.22B | 989.72M | 902.78M | 881.63M | 775.84M | 730.27M |
| Other Receivables | 132.89M | 82.49M | 119.68M | 129.15M | 92.51M | 74.72M |
| Receivables | 1.35B | 1.07B | 1.02B | 1.01B | 868.35M | 805.00M |
| Inventory | 671.59M | 815.18M | 636.56M | 402.78M | 430.52M | 299.22M |
| Prepaid Expenses | 27.06M | 36.11M | 31.00M | 30.02M | 31.76M | 29.66M |
| Other Current Assets | 882.19M | 131.45M | ||||
| Total Current Assets | 2.77B | 2.89B | 1.89B | 1.46B | 1.34B | 1.18B |
| Property, Plant & Equipment | 383.51M | 376.32M | 341.60M | 513.35M | 475.27M | 524.64M |
| Long-Term Investments | 34.97M | 9.38M | 1.85M | 720.00K | 736.00K | 2.66M |
| Goodwill | 2.54B | 2.55B | 2.36B | 2.61B | 2.58B | 2.66B |
| Other Intangible Assets | 491.66M | 557.55M | 595.22M | 881.48M | 975.86M | 1.11B |
| Long-Term Deferred Tax Assets | 5.29M | |||||
| Long-Term Deferred Charges | 1.76M | 2.47M | 7.20M | 2.02M | 8.95M | |
| Other Long-Term Assets | 51.96M | 24.55M | 714.19M | 57.08M | 65.93M | 26.76M |
| Total Assets | 6.27B | 6.41B | 5.93B | 5.53B | 5.44B | 5.51B |
| Accounts Payable | 1.23B | 1.22B | 923.93M | 641.61M | 526.92M | 408.11M |
| Accrued Expenses | 315.77M | 269.54M | 232.46M | 312.43M | 222.88M | 227.15M |
| Current Portion of Long-Term Debt | 35.28M | 53.74M | 48.73M | 32.27M | 30.41M | 40.54M |
| Current Portion of Leases | 52.28M | 49.73M | 42.37M | 82.19M | 77.45M | 84.68M |
| Current Unearned Revenue | 11.04M | 9.04M | 10.20M | 30.85M | 29.04M | 10.49M |
| Other Current Liabilities | 64.15M | 249.04M | 170.65M | 149.08M | 45.81M | 121.19M |
| Total Current Liabilities | 1.71B | 1.85B | 1.43B | 1.25B | 932.51M | 892.16M |
| Long-Term Debt | 2.15B | 2.46B | 2.56B | 3.33B | 3.36B | 3.39B |
| Long-Term Leases | 144.64M | 149.96M | 136.00M | 224.18M | 204.91M | 252.09M |
| Long-Term Unearned Revenue | 1.35M | 1.49M | 1.72M | |||
| Long-Term Deferred Tax Liabilities | 10.34M | 6.18M | 23.67M | 79.39M | 98.16M | |
| Other Long-Term Liabilities | 68.23M | 66.41M | 148.37M | 90.60M | 74.45M | 75.32M |
| Total Liabilities | 4.08B | 4.53B | 4.27B | 4.92B | 4.66B | 4.71B |
| Common Stock | 1.99M | 1.92M | 1.74M | 1.18M | 1.18M | 1.18M |
| Additional Paid-In Capital | 2.02B | 1.95B | 1.87B | 771.34M | 778.12M | 772.45M |
| Retained Earnings | 138.57M | -74.65M | -222.16M | -200.32M | -45.72M | 971.00K |
| Comprehensive Income & Other | 14.10M | -6.69M | 1.42M | 12.54M | 21.19M | 217.00K |
| Total Common Equity | 2.18B | 1.88B | 1.65B | 584.74M | 754.78M | 774.82M |
| Minority Interest | 9.28M | 11.30M | 3.73M | 27.81M | 29.31M | 25.65M |
| Shareholders' Equity | 2.19B | 1.89B | 1.65B | 612.55M | 784.08M | 800.46M |
| Total Liabilities & Equity | 6.27B | 6.41B | 5.93B | 5.53B | 5.44B | 5.51B |
| Total Debt | 2.38B | 2.71B | 2.79B | 3.67B | 3.68B | 3.77B |
| Net Cash (Debt) | -1.66B | -2.62B | -2.72B | -3.66B | -3.66B | -3.72B |
| Net Cash Per Share | -7.50 | -11.92 | -14.08 | -31.03 | -31.09 | -30.58 |
| Filing Date Shares Outstanding | 207.02M | 205.27M | 201.16M | 197.38M | 171.19M | 117.59M |
| Total Common Shares Outstanding | 207.02M | 203.86M | 200.43M | 117.86M | 117.86M | 117.59M |
| Working Capital | 1.05B | 1.05B | 464.72M | 208.20M | 411.75M | 288.45M |
| Book Value Per Share | 10.51 | 9.20 | 8.22 | 4.96 | 6.40 | 6.59 |
| Tangible Book Value | -852.25M | -1.23B | -1.31B | -2.91B | -2.80B | -2.99B |
| Tangible Book Value Per Share | -4.12 | -6.02 | -6.54 | -24.65 | -23.73 | -25.47 |
| Land | 2.12M | 2.11M | 8.40M | 8.79M | 7.10M | |
| Buildings | 9.49M | 8.81M | 36.21M | 36.87M | 37.71M | |
| Machinery | 244.50M | 201.36M | 202.29M | 167.31M | 142.39M | |
| Construction In Progress | 2.68M | 1.04M | 1.54M | 2.33M | 8.80M | |
| Leasehold Improvements | 76.68M | 65.43M | 91.87M | 80.63M | 64.83M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 410.27M | 190.67M | -18.06M | -154.60M | -53.91M | 49.80M |
| Depreciation & Amortization | 158.41M | 162.95M | 162.14M | 160.56M | 203.97M | 199.16M |
| Other Amortization | 11.18M | 11.24M | 12.11M | 20.92M | 20.44M | 20.73M |
| Loss (Gain) From Sale of Assets | 2.08M | 2.08M | 101.00K | 349.00K | 4.60M | -5.36M |
| Asset Writedown & Restructuring Costs | 14.34M | 12.63M | 4.00M | 2.50M | 51.68M | 3.39M |
| Stock-Based Compensation | 63.35M | 59.16M | 61.34M | 3.78M | 3.55M | 4.52M |
| Provision & Write-off of Bad Debts | 36.20M | 56.23M | 34.00M | 23.24M | 15.06M | 18.05M |
| Other Operating Activities | -10.08M | 1.50M | -18.19M | -55.44M | -25.58M | 9.99M |
| Change in Accounts Receivable | -204.55M | -131.29M | -179.04M | -127.25M | -150.47M | -93.00M |
| Change in Inventory | -32.22M | -177.91M | -236.51M | 28.66M | -131.83M | 4.29M |
| Change in Accounts Payable | 276.25M | 264.17M | 303.21M | 105.65M | 133.47M | 63.54M |
| Change in Other Net Operating Assets | -12.71M | 26.48M | -157.73M | 152.37M | -75.63M | -4.94M |
| Operating Cash Flow | 602.74M | 490.17M | 23.77M | 210.78M | -4.65M | 270.17M |
| Capital Expenditures | -110.33M | -95.48M | -80.91M | -73.53M | -70.11M | -59.27M |
| Cash Acquisitions | -240.39M | -204.56M | -59.80M | -63.06M | -42.46M | -1.14B |
| Divestitures | 155.79M | 9.00M | ||||
| Other Investing Activities | 812.84M | -5.03M | 473.00K | 2.15M | 2.13M | 1.70M |
| Investing Cash Flow | 462.12M | -305.08M | -140.24M | -134.43M | 45.36M | -1.19B |
| Long-Term Debt Issued | 2.58B | 767.68M | ||||
| Long-Term Debt Repaid | -127.12M | -3.41B | -66.14M | -68.93M | -40.82M | |
| Net Debt Issued (Repaid) | -355.64M | -127.12M | -829.36M | -66.14M | -68.93M | 726.86M |
| Issuance of Common Stock | 47.86M | 25.28M | 1.06B | 598.00K | 234.00K | 12.98M |
| Repurchase of Common Stock | -176.69M | -50.73M | -1.85M | -10.65M | -417.00K | |
| Other Financing Activities | -3.85M | -5.30M | -62.17M | -718.00K | -5.11M | -34.20M |
| Financing Cash Flow | -488.32M | -157.87M | 164.65M | -76.91M | -73.81M | 705.22M |
| Net Cash Flow | 576.54M | 27.22M | 48.18M | -557.00K | -33.11M | -215.27M |
| Free Cash Flow | 492.41M | 394.69M | -57.14M | 137.26M | -74.77M | 210.90M |
| Free Cash Flow Margin | 3.23% | 3.06% | -0.57% | 1.79% | -0.97% | 3.15% |
| Free Cash Flow Per Share | 2.22 | 1.80 | -0.30 | 1.16 | -0.63 | 1.73 |
| Levered Free Cash Flow | 1.11B | -334.85M | -36.35M | 181.05M | 1.74M | 209.82M |
| Unlevered Free Cash Flow | 1.19B | -247.77M | 70.63M | 330.07M | 127.29M | 292.42M |
| Cash Interest Paid | 213.31M | 126.95M | ||||
| Cash Income Tax Paid | 171.01M | 26.97M | 24.95M | 37.50M | 28.85M | -4.65M |
| Change in Working Capital | 26.78M | -18.54M | -270.07M | 159.44M | -224.47M | -30.11M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 13.89B | 7.76B | 3.47B | |||
| Enterprise Value | 15.55B | 10.33B | 6.39B | |||
| Last Close Price | 66.89 | 37.45 | 17.03 | |||
| PE Ratio | 36.17 | 40.72 | ||||
| Forward PE | 29.45 | 30.70 | 23.69 | |||
| PS Ratio | 0.91 | 0.60 | 0.34 | |||
| PB Ratio | 6.36 | 4.12 | 2.10 | |||
| P/FCF Ratio | 28.03 | 19.67 | ||||
| P/OCF Ratio | 22.90 | 15.84 | 145.80 | |||
| PEG Ratio | 0.55 | 0.88 | 1.93 | |||
| EV/Sales Ratio | 1.01 | 0.80 | 0.63 | |||
| EV/EBITDA Ratio | 22.29 | 21.28 | 19.57 | |||
| EV/EBIT Ratio | 28.88 | 32.03 | 38.87 | |||
| EV/FCF Ratio | 31.41 | 26.16 | ||||
| Debt / Equity Ratio | 1.09 | 1.44 | 1.69 | 5.99 | 4.69 | 4.71 |
| Debt / EBITDA Ratio | 3.10 | 4.87 | 7.06 | 12.46 | 6.81 | 6.74 |
| Debt / FCF Ratio | 4.83 | 6.86 | 26.74 | 17.88 | ||
| Net Debt / Equity Ratio | 0.76 | 1.39 | 1.65 | 5.97 | 4.67 | 4.65 |
| Net Debt / EBITDA Ratio | 2.39 | 5.40 | 8.32 | 15.96 | 8.93 | 8.86 |
| Net Debt / FCF Ratio | 3.37 | 6.64 | -47.56 | 26.65 | -49.00 | 17.66 |
| Asset Turnover | 2.48 | 2.09 | 1.76 | 1.40 | 1.41 | 1.33 |
| Inventory Turnover | 20.36 | 15.70 | 16.95 | 15.73 | 17.45 | 18.19 |
| Quick Ratio | 1.21 | 0.63 | 0.77 | 0.82 | 0.95 | 0.95 |
| Current Ratio | 1.62 | 1.56 | 1.32 | 1.17 | 1.44 | 1.32 |
| Return on Equity (ROE) | 15.53% | 5.92% | -6.09% | -26.10% | -6.84% | 6.68% |
| Return on Assets (ROA) | 5.44% | 3.27% | 1.79% | 0.78% | 2.35% | 2.75% |
| Return on Invested Capital (ROIC) | 11.47% | 5.52% | 3.80% | 1.57% | 4.60% | 4.13% |
| Return on Capital Employed (ROCE) | 11.80% | 7.10% | 3.70% | 1.60% | 4.60% | 4.80% |
| Earnings Yield | 2.76% | 2.46% | -0.52% | |||
| FCF Yield | 3.57% | 5.08% | -1.65% | |||
| Buyback Yield / Dilution | -3.57% | -13.87% | -63.74% | -0.02% | 3.24% | -3.53% |