ADUS Addus HomeCare Corp

Overview and Growth

Addus HomeCare Corp generated $1.42B of revenue in fiscal 2025, with net income of $95.91M and an operating cash inflow of $111.51M. The $1.42B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 23.2% above fiscal 2024 revenue of $1.15B, marking a year-over-year increase. On a per-share basis, diluted EPS was $5.22, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS increased by 23.4% from $4.23 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Revenue equaled 0.99x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $461.87M as gross profit before recognizing operating expenses and other items. Gross margin was 32.5%, so that share of each revenue unit remained after the cost of revenue reported for the period. The reported operating result was $138.62M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 9.7%, showing how efficiently sales converted into operating profit. Net income came to $95.91M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 6.7% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $127.44M of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 9.0%, adding a pre-tax profitability layer between revenue and net income. The company recognized $31.54M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 24.7%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 8.8%, relating annual net income to the equity capital on the balance sheet.

Liquidity and Capital Structure

Total assets were $1.44B, supported by $352.00M of liabilities and $1.09B of shareholder equity. The near-term balance sheet paired $269.49M of current assets with $149.49M of current liabilities at the reporting date. At 1.8x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Total debt was $120.96M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.11x, showing how much debt the company carried for each unit of book equity. Debt represented 8.4% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 24.5%, placing reported obligations against the full positive asset balance. The asset base changed 1.7% from $1.41B in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $111.51M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 1.16x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $7.72M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 6.9%, connecting investment intensity with the company’s cash-generation base. After capital spending, free cash flow was $103.79M, leaving cash available for debt reduction, shareholder returns, or further investment. Relative to revenue, free cash flow equaled 7.3%, showing how much sales converted into cash after investment. Free cash flow equaled 7.2% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.