NYSE : EHC
Encompass Health Corporation — Financial statements
Healthcare · Medical Care Facilities · United States
Last price 131.49 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 12.97B
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Financial statements
Encompass Health Corporation (EHC) reported revenue of 6.34B 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 | 6.34B | 5.94B | 5.37B | 4.80B | 4.35B | 4.01B |
| Cost of Revenue | 3.54B | 3.37B | 3.14B | 2.82B | 2.60B | 2.31B |
| Gross Profit | 2.80B | 2.56B | 2.23B | 1.98B | 1.75B | 1.70B |
| Selling, General & Admin | 313.80M | 300.50M | 272.30M | 264.10M | 209.00M | 228.50M |
| Other Operating Expenses | 963.00M | 883.40M | 786.40M | 713.00M | 670.40M | 595.90M |
| Operating Expenses | 1.64B | 1.51B | 1.36B | 1.25B | 1.12B | 1.04B |
| Operating Income | 1.16B | 1.05B | 874.90M | 731.80M | 630.20M | 659.40M |
| Interest Expense | -127.00M | -123.20M | -137.40M | -143.50M | -175.70M | -164.30M |
| Earnings From Equity Investments | 1.40M | 4.30M | 3.00M | 3.20M | 2.90M | 3.40M |
| Other Non Operating Income (Expenses) | 33.40M | 18.80M | 20.10M | 15.70M | -5.20M | 7.50M |
| EBT Excluding Unusual Items | 1.07B | 953.00M | 760.60M | 607.20M | 452.20M | 506.00M |
| Merger & Restructuring Charges | -10.40M | |||||
| Other Unusual Items | -3.40M | -600.00K | -1.40M | -1.00M | ||
| Pretax Income | 1.07B | 953.00M | 749.60M | 607.20M | 450.80M | 505.00M |
| Income Tax Expense | 218.80M | 192.90M | 150.20M | 132.20M | 100.10M | 101.90M |
| Earnings From Continuing Operations | 847.00M | 760.10M | 599.40M | 475.00M | 350.70M | 403.10M |
| Earnings From Discontinued Operations | 15.30M | -1.00M | -2.80M | -12.00M | 13.90M | 112.30M |
| Net Income to Company | 862.30M | 759.10M | 596.60M | 463.00M | 364.60M | 515.40M |
| Minority Interest in Earnings | -217.90M | -192.90M | -140.90M | -111.00M | -93.60M | -103.20M |
| Net Income | 644.40M | 566.20M | 455.70M | 352.00M | 271.00M | 412.20M |
| Preferred Dividends & Other Adjustments | 1.50M | 1.50M | 2.80M | 2.40M | 1.20M | 1.80M |
| Net Income to Common | 642.90M | 564.70M | 452.90M | 349.60M | 269.80M | 410.40M |
| Shares Outstanding (Basic) | 99.22M | 100.50M | 99.90M | 99.50M | 99.20M | 99.00M |
| Shares Outstanding (Diluted) | 100.62M | 102.20M | 102.20M | 101.30M | 100.40M | 100.20M |
| EPS (Basic) | 6.48 | 5.62 | 4.53 | 3.51 | 2.72 | 4.15 |
| EPS (Diluted) | 6.40 | 5.54 | 4.46 | 3.47 | 2.70 | 4.11 |
| Free Cash Flow | 457.20M | 439.20M | 360.30M | 267.70M | 121.70M | 170.10M |
| Free Cash Flow Per Share | 4.54 | 4.30 | 3.52 | 2.64 | 1.21 | 1.70 |
| Dividend Per Share | 0.78 | 0.72 | 0.64 | 0.60 | 0.86 | 1.12 |
| Gross Margin | 44.15% | 43.21% | 41.56% | 41.30% | 40.32% | 42.43% |
| Operating Margin | 18.32% | 17.74% | 16.28% | 15.24% | 14.49% | 16.42% |
| Profit Margin | 10.14% | 9.51% | 8.43% | 7.28% | 6.20% | 10.22% |
| Free Cash Flow Margin | 7.21% | 7.40% | 6.71% | 5.58% | 2.80% | 4.24% |
| EBITDA | 1.52B | 1.38B | 1.17B | 1.01B | 873.80M | 879.00M |
| EBITDA Margin | 24.00% | 23.27% | 21.86% | 20.95% | 20.09% | 21.89% |
| D&A For EBITDA | 359.80M | 327.90M | 299.60M | 273.90M | 243.60M | 219.60M |
| EBIT | 1.16B | 1.05B | 874.90M | 731.80M | 630.20M | 659.40M |
| EBIT Margin | 18.32% | 17.74% | 16.28% | 15.24% | 14.49% | 16.42% |
| Effective Tax Rate | 20.53% | 20.24% | 20.04% | 21.77% | 22.20% | 20.18% |
| Advertising Expenses | 5.30M | 5.80M | 6.10M | 6.30M | 5.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 76.20M | 72.20M | 85.40M | 69.10M | 21.80M | 49.40M |
| Cash & Short-Term Investments | 76.20M | 72.20M | 85.40M | 69.10M | 21.80M | 49.40M |
| Accounts Receivable | 712.00M | 613.40M | 593.00M | 599.80M | 524.80M | 502.10M |
| Other Receivables | 5.80M | 5.80M | 11.80M | 12.00M | 13.70M | |
| Receivables | 712.00M | 619.20M | 598.80M | 611.60M | 536.80M | 515.80M |
| Prepaid Expenses | 53.90M | 42.30M | 34.50M | 34.90M | 114.90M | |
| Restricted Cash | 24.00M | 30.70M | 37.70M | 35.10M | 31.60M | 62.50M |
| Other Current Assets | 200.80M | 129.90M | 122.70M | 91.50M | 92.10M | 178.80M |
| Total Current Assets | 1.01B | 905.90M | 886.90M | 841.80M | 717.20M | 921.40M |
| Property, Plant & Equipment | 4.67B | 4.31B | 3.85B | 3.51B | 3.15B | 2.77B |
| Goodwill | 1.32B | 1.32B | 1.28B | 1.28B | 1.26B | 1.24B |
| Other Intangible Assets | 301.50M | 308.30M | 297.80M | 278.20M | 282.30M | 158.40M |
| Long-Term Accounts Receivable | 25.50M | 30.60M | 20.90M | 73.30M | 77.40M | |
| Other Long-Term Assets | 256.40M | 218.20M | 188.60M | 170.70M | 148.80M | 1.70B |
| Total Assets | 7.57B | 7.09B | 6.53B | 6.10B | 5.64B | 6.86B |
| Accounts Payable | 231.40M | 178.20M | 171.00M | 170.00M | 132.90M | 134.00M |
| Accrued Expenses | 620.20M | 301.60M | 284.10M | 302.80M | 257.70M | 289.40M |
| Current Portion of Long-Term Debt | 47.80M | 17.10M | 114.90M | 3.20M | 5.70M | 18.70M |
| Current Portion of Leases | 28.00M | 53.00M | 50.00M | 45.70M | 45.10M | 42.60M |
| Other Current Liabilities | 286.50M | 221.00M | 134.70M | 134.50M | 264.10M | |
| Total Current Liabilities | 927.40M | 836.40M | 841.00M | 656.40M | 575.90M | 748.80M |
| Long-Term Debt | 2.28B | 2.15B | 2.04B | 2.34B | 2.37B | 2.85B |
| Long-Term Leases | 451.20M | 492.70M | 512.40M | 542.60M | 568.00M | 568.80M |
| Long-Term Deferred Tax Liabilities | 127.50M | 126.80M | 105.20M | 87.00M | 83.00M | 23.30M |
| Other Long-Term Liabilities | 222.80M | 206.90M | 190.40M | 177.90M | 174.20M | 273.50M |
| Total Liabilities | 4.01B | 3.81B | 3.69B | 3.81B | 3.77B | 4.47B |
| Common Stock | 2.68B | 1.20M | 1.20M | 1.20M | 1.10M | 1.10M |
| Additional Paid-In Capital | 1.87B | 1.85B | 1.79B | 1.73B | 2.29B | |
| Retained Earnings | 1.29B | 796.70M | 406.50M | 115.70M | 141.80M | |
| Treasury Stock | -722.50M | -577.90M | -547.20M | -536.70M | -521.20M | |
| Comprehensive Income & Other | 500.00K | |||||
| Total Common Equity | 2.68B | 2.44B | 2.07B | 1.65B | 1.31B | 1.91B |
| Minority Interest | 880.00M | 837.60M | 782.20M | 649.70M | 551.60M | 487.90M |
| Shareholders' Equity | 3.56B | 3.28B | 2.85B | 2.30B | 1.86B | 2.40B |
| Total Liabilities & Equity | 7.57B | 7.09B | 6.53B | 6.10B | 5.64B | 6.86B |
| Total Debt | 2.80B | 2.71B | 2.71B | 2.93B | 2.99B | 3.48B |
| Net Cash (Debt) | -2.73B | -2.64B | -2.63B | -2.86B | -2.97B | -3.43B |
| Net Cash Per Share | -27.10 | -25.85 | -25.72 | -28.27 | -29.59 | -34.25 |
| Filing Date Shares Outstanding | 98.30M | 99.42M | 100.71M | 100.14M | 99.73M | 99.44M |
| Total Common Shares Outstanding | 98.30M | 100.00M | 100.78M | 100.25M | 99.78M | 99.49M |
| Working Capital | 85.60M | 69.50M | 45.90M | 185.40M | 141.30M | 172.60M |
| Book Value Per Share | 27.28 | 24.38 | 20.51 | 16.43 | 13.13 | 19.21 |
| Tangible Book Value | 1.06B | 812.30M | 485.20M | 88.00M | -235.20M | 515.90M |
| Tangible Book Value Per Share | 10.74 | 8.12 | 4.81 | 0.88 | -2.36 | 5.19 |
| Land | 339.70M | 302.60M | 294.00M | 286.10M | 259.80M | |
| Buildings | 4.33B | 3.86B | 3.40B | 3.02B | 2.63B | |
| Machinery | 903.10M | 814.40M | 728.60M | 651.70M | 574.80M | |
| Construction In Progress | 517.60M | 405.90M | 431.00M | 359.50M | 353.20M | |
| Leasehold Improvements | 388.30M | 372.80M | 316.80M | 281.50M | 251.10M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 644.40M | 566.20M | 455.70M | 352.00M | 271.00M | 412.20M |
| Depreciation & Amortization | 359.80M | 327.90M | 299.60M | 273.90M | 243.60M | 219.60M |
| Other Amortization | 9.60M | 9.60M | 9.70M | 9.50M | 9.70M | 7.80M |
| Loss (Gain) From Sale of Investments | -15.70M | |||||
| Loss (Gain) on Equity Investments | -200.00K | -200.00K | 1.00M | -1.60M | 1.10M | -800.00K |
| Stock-Based Compensation | 58.70M | 56.50M | 48.30M | 50.60M | 29.20M | 29.10M |
| Other Operating Activities | 225.70M | 212.70M | 169.70M | 132.10M | 129.30M | 6.70M |
| Change in Accounts Receivable | -85.90M | -15.20M | 3.00M | -22.40M | -16.90M | -39.50M |
| Change in Accounts Payable | 53.60M | -22.60M | 3.00M | 11.80M | 2.30M | 15.60M |
| Change in Other Net Operating Assets | 33.40M | 42.10M | 15.90M | 60.90M | -15.80M | -86.00M |
| Operating Cash Flow | 1.30B | 1.18B | 1.00B | 850.80M | 705.80M | 715.80M |
| Capital Expenditures | -846.50M | -736.40M | -642.50M | -583.10M | -584.10M | -545.70M |
| Other Investing Activities | -20.20M | -28.20M | -10.80M | -19.70M | -42.90M | -120.60M |
| Investing Cash Flow | -866.70M | -764.60M | -653.30M | -602.80M | -627.00M | -666.30M |
| Long-Term Debt Issued | 210.00M | 95.00M | 80.00M | 251.80M | 300.00M | |
| Long-Term Debt Repaid | -239.00M | -337.00M | -163.30M | -750.00M | -359.10M | |
| Net Debt Issued (Repaid) | 151.50M | -29.00M | -242.00M | -83.30M | -498.20M | -59.10M |
| Repurchase of Common Stock | -311.00M | -178.00M | -43.20M | -8.20M | -7.30M | -14.60M |
| Common Dividends Paid | -76.90M | -71.10M | -62.80M | -60.40M | -99.00M | -112.20M |
| Other Financing Activities | -194.10M | -153.10M | 17.40M | -45.30M | 458.80M | -54.20M |
| Financing Cash Flow | -430.50M | -431.20M | -330.60M | -197.20M | -145.70M | -240.10M |
| Net Cash Flow | 6.50M | -20.20M | 18.90M | 50.80M | -66.90M | -190.60M |
| Free Cash Flow | 457.20M | 439.20M | 360.30M | 267.70M | 121.70M | 170.10M |
| Free Cash Flow Margin | 7.21% | 7.40% | 6.71% | 5.58% | 2.80% | 4.24% |
| Free Cash Flow Per Share | 4.54 | 4.30 | 3.52 | 2.64 | 1.21 | 1.70 |
| Levered Free Cash Flow | 266.90M | 296.79M | 215.84M | 123.69M | -3.34M | -73.86M |
| Unlevered Free Cash Flow | 336.68M | 364.19M | 292.01M | 203.88M | 96.78M | 21.02M |
| Cash Interest Paid | 133.10M | 133.10M | 146.80M | 147.70M | 178.40M | |
| Cash Income Tax Paid | 163.80M | 106.60M | 50.20M | 129.60M | ||
| Change in Working Capital | 1.10M | 4.30M | 21.90M | 50.30M | -30.40M | -109.90M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 13.41B | 10.68B | 9.30B | 6.69B | 5.97B | 6.49B |
| Enterprise Value | 16.13B | 14.10B | 12.72B | 10.14B | 9.39B | 10.31B |
| Last Close Price | 135.90 | 105.36 | 91.09 | 65.45 | 58.12 | 49.64 |
| PE Ratio | 21.24 | 18.91 | 20.54 | 19.13 | 22.12 | 15.82 |
| Forward PE | 20.28 | 18.91 | 20.09 | 18.12 | 18.95 | 14.99 |
| PS Ratio | 2.12 | 1.80 | 1.73 | 1.39 | 1.37 | 1.62 |
| PB Ratio | 4.98 | 3.26 | 3.27 | 2.91 | 3.21 | 2.71 |
| P/TBV Ratio | 12.69 | 13.15 | 19.18 | 76.00 | 12.59 | |
| P/FCF Ratio | 29.32 | 24.32 | 25.82 | 24.98 | 49.04 | 38.17 |
| P/OCF Ratio | 10.28 | 9.08 | 9.28 | 7.86 | 8.46 | 9.07 |
| PEG Ratio | 1.65 | 1.30 | 1.14 | 1.34 | 1.52 | 0.71 |
| EV/Sales Ratio | 2.55 | 2.38 | 2.37 | 2.11 | 2.16 | 2.57 |
| EV/EBITDA Ratio | 10.61 | 10.21 | 10.83 | 10.09 | 10.75 | 11.72 |
| EV/EBIT Ratio | 13.89 | 13.39 | 14.54 | 13.86 | 14.90 | 15.63 |
| EV/FCF Ratio | 35.29 | 32.12 | 35.31 | 37.89 | 77.16 | 60.59 |
| Debt / Equity Ratio | 0.79 | 0.83 | 0.95 | 1.28 | 1.61 | 1.45 |
| Debt / EBITDA Ratio | 1.78 | 1.89 | 2.21 | 2.77 | 3.23 | 3.72 |
| Debt / FCF Ratio | 6.13 | 6.18 | 7.53 | 10.96 | 24.59 | 20.47 |
| Net Debt / Equity Ratio | 0.77 | 0.81 | 0.92 | 1.25 | 1.59 | 1.43 |
| Net Debt / EBITDA Ratio | 1.79 | 1.91 | 2.24 | 2.85 | 3.40 | 3.90 |
| Net Debt / FCF Ratio | 5.96 | 6.01 | 7.29 | 10.70 | 24.41 | 20.18 |
| Asset Turnover | 0.88 | 0.87 | 0.85 | 0.82 | 0.70 | 0.60 |
| Quick Ratio | 0.85 | 0.83 | 0.81 | 1.04 | 0.97 | 0.76 |
| Current Ratio | 1.09 | 1.08 | 1.05 | 1.28 | 1.25 | 1.23 |
| Return on Equity (ROE) | 25.11% | 24.82% | 23.29% | 22.84% | 16.46% | 18.32% |
| Return on Assets (ROA) | 10.06% | 9.66% | 8.65% | 7.79% | 6.30% | 6.19% |
| Return on Invested Capital (ROIC) | 14.79% | 14.74% | 13.15% | 11.46% | 9.20% | 9.44% |
| Return on Capital Employed (ROCE) | 17.50% | 16.80% | 15.40% | 13.40% | 12.50% | 10.80% |
| Earnings Yield | 4.71% | 5.30% | 4.90% | 5.26% | 4.54% | 6.35% |
| FCF Yield | 3.41% | 4.11% | 3.87% | 4.00% | 2.04% | 2.62% |
| Dividend Yield | 0.62% | 0.67% | 0.69% | 0.90% | 1.44% | 1.72% |
| Payout Ratio | 13.13% | 12.56% | 13.78% | 17.16% | 36.53% | 27.22% |
| Buyback Yield / Dilution | 1.61% | -0.60% | -0.89% | -0.90% | -0.20% | -0.40% |
| Total Shareholder Return | 2.23% | 0.07% | -0.19% | 0.00% | 1.24% | 1.31% |