Addus HomeCare Corporation
- Open
- 101.14
- Day high
- 103.96
- Day low
- 101.14
- Prev close
- 100.47
- Volume
- 160K
- Mkt cap
- $1.9B
- P/E (TTM)
- 19.0
- EPS (TTM)
- $5.41
- P/B
- 1.7
- P/S
- 1.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$90K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Addus HomeCare Corporation (ADUS) is a Healthcare company listed on NASDAQ. The stock is down 11% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Addus HomeCare Corporation (ADUS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ADUS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $1.52 | $1.62 | +6.6% | $364M | -0.8% |
| Feb 23, 2026 | $1.71 | $1.61 | -5.8% | $373M | +0.1% |
| Feb 26, 2024 | $1.17 | $1.32 | +12.8% | $276M | -0.8% |
| May 1, 2023 | $0.88 | $0.97 | +10.2% | $252M | -1.3% |
| Feb 27, 2023 | $0.95 | $1.11 | +16.8% | $247M | +0.4% |
| Oct 31, 2022 | $0.93 | $0.94 | +1.1% | $240M | -0.7% |
| May 2, 2022 | $0.76 | $0.77 | +1.3% | $227M | -0.3% |
| Feb 24, 2022 | $0.92 | $0.97 | +5.4% | $225M | -0.7% |
| May 3, 2021 | $0.74 | $0.74 | +0.0% | $205M | +0.0% |
| Feb 25, 2021 | $0.75 | $0.82 | +9.3% | $196M | +10.3% |
| Nov 2, 2020 | $0.65 | $0.76 | +16.9% | $194M | +16.9% |
| May 4, 2020 | $0.64 | $0.77 | +20.3% | $190M | +28.6% |
ADUS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | Dixon Heather Brianneofficer: President and Chief Operating | Sell | 288 | $93.77 |
| Jun 11, 2026 | Hill-Milbourne Veronicadirector | Grant | 1,449 | — |
| Jun 11, 2026 | RUSH JEANdirector | Grant | 1,449 | — |
| Jun 11, 2026 | FIRST MARK Ldirector | Grant | 1,449 | — |
| Jun 11, 2026 | Weaver Susan Tdirector | Grant | 1,449 | — |
| Jun 11, 2026 | Lopez Estebandirector | Grant | 1,449 | — |
| Jun 11, 2026 | Gordon Darin J.director | Grant | 1,449 | — |
| Jun 11, 2026 | EARLEY MICHAELdirector | Grant | 1,449 | — |
| May 22, 2026 | Lopez Estebandirector | Sell | 250 | $93.00 |
| May 21, 2026 | Lopez Estebandirector | Sell | 250 | $93.00 |
| Apr 22, 2026 | BLESSING CLIFF DONALDofficer: EVP, Chief Development Officer | Sell | 178 | $93.61 |
| Feb 26, 2026 | POFF BRIANofficer: EVP, Chief Financial Officer | Sell | 2,041 | $106.98 |
| Feb 26, 2026 | Anderson Darbyofficer: EVP, Chief Govt Rel Officer | Sell | 733 | $106.98 |
| Feb 26, 2026 | Stevenson Roberton Jamesofficer: EVP, Chief HR Officer | Sell | 567 | $107.35 |
| Feb 26, 2026 | GAFFNEY SEANofficer: EVP, Chief Legal Officer | Sell | 442 | $105.36 |
Source: ADUS SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full ADUS insider & 13F page →Addus HomeCare Corporation company profile
Overview
Addus HomeCare Corporation (NASDAQ:ADUS) is a leading provider of home-based healthcare services founded in 1979 and headquartered in Frisco, Texas. The company went public in October 2009 and has grown through both organic expansion and strategic acquisitions to become one of the largest home care providers in the United States. Addus operates across 22 states through 206 offices, serving elderly, chronically ill, disabled individuals, and those at risk of hospitalization or institutionalization. The company has evolved from a primarily personal care provider to a comprehensive home healthcare organization offering multiple service lines including hospice and skilled nursing care.
Business
Addus HomeCare operates in the home-based healthcare industry, which serves as an alternative to institutional care settings like nursing homes or hospitals. The company provides essential healthcare services directly in patients' homes, helping individuals maintain independence while receiving necessary medical and personal care support. The company operates through three distinct business segments. Personal Care services represent approximately 76% of total revenue and provide non-medical assistance with activities of daily living. These services include help with bathing, grooming, feeding, dressing, medication reminders, meal preparation, housekeeping, and transportation. Personal care is typically funded through state Medicaid programs and serves individuals who need support but do not require skilled medical intervention. Hospice Care services account for roughly 18% of revenue and provide end-of-life care for terminally ill patients. This segment offers palliative nursing care, social work services, spiritual counseling, homemaker services, and bereavement counseling for both patients and their families. Hospice care is primarily reimbursed through Medicare and focuses on comfort and quality of life rather than curative treatment. Home Health services comprise about 5% of revenue and deliver skilled medical care including nursing services and physical, occupational, and speech therapy. This segment serves patients recovering from illness or hospitalization who require professional medical care but can be treated at home rather than in a hospital or skilled nursing facility. Home health services are typically reimbursed through Medicare and managed care organizations. The home healthcare industry serves as a cost-effective alternative to institutional care, with home-based services generally costing significantly less than hospital or nursing home care while often providing better patient outcomes and satisfaction.
Revenue model
Addus generates revenue primarily through reimbursement from government programs and managed care organizations. The company's business model is built on providing cost-effective home-based care that reduces overall healthcare system costs while improving patient outcomes. Personal Care revenue comes predominantly from state Medicaid programs, which reimburse the company on an hourly basis for non-medical care services. Reimbursement rates vary by state and are subject to periodic adjustments through state budget processes. The company also receives some funding from managed care organizations that contract with state Medicaid programs. Hospice Care revenue is primarily generated through Medicare reimbursement on a per-diem basis, meaning the company receives a daily rate for each patient under care regardless of the specific services provided. This creates predictable revenue streams based on patient census levels. Some hospice revenue also comes from managed care organizations and private insurance. Home Health revenue comes from Medicare fee-for-service payments, typically structured as episodic payments covering 60-day periods of care, as well as per-visit payments for specific services. The company also contracts with managed care organizations and commercial insurers for home health services. Several factors influence the company's margins and profitability. Positive margin drivers include state Medicaid rate increases, improved caregiver utilization rates, successful workforce retention reducing recruitment costs, and economies of scale from acquisitions. The company benefits when states increase reimbursement rates to address caregiver wage pressures or when federal programs like ARPA provide supplemental funding. Margin pressures come from labor market tightness requiring higher caregiver wages, regulatory changes like proposed CMS rules requiring minimum wage thresholds, increased competition for qualified caregivers, and potential federal or state budget constraints affecting reimbursement rates. The company's labor-intensive model makes it particularly sensitive to wage inflation and workforce availability challenges.
Competitive moat
Addus HomeCare possesses a moderate competitive moat built primarily on regulatory barriers, operational scale, and established payor relationships, though the business faces some structural challenges that limit moat strength. The company's strongest moat elements include regulatory licensing requirements that create barriers to entry, as home healthcare providers must obtain state licenses and meet quality standards that require time, expertise, and capital investment. Established payor relationships with state Medicaid programs, Medicare, and managed care organizations provide stability and make it difficult for new entrants to quickly gain market access. The company's operational scale across 22 states creates economies of scale in administration, technology, and compliance that smaller competitors cannot easily replicate. Network effects provide some defensive characteristics, as the company's large caregiver workforce and geographic coverage allow it to serve complex cases and provide backup coverage that smaller providers cannot match. Additionally, switching costs exist for both patients and families who develop relationships with specific caregivers, and for payor organizations that have established billing and quality monitoring systems with Addus. However, the moat has notable limitations. The business is fundamentally labor-intensive with limited differentiation in core services, making it vulnerable to wage inflation and competition for workers. Reimbursement dependency on government programs creates vulnerability to policy changes and budget pressures beyond the company's control. The fragmented industry structure with many small local competitors means that competitive threats can emerge in individual markets, and low capital requirements for basic personal care services allow new entrants to start operations relatively easily. Potential disruption could come from technology-enabled care coordination platforms, direct-pay models that bypass traditional reimbursement, or policy changes that shift funding toward institutional care or family caregiver support programs.
Risks & safety
Addus HomeCare demonstrates a solid margin of safety with strong financial fundamentals, though valuation metrics suggest limited upside at current levels. • Strong liquidity position: $97 million cash with minimal debt (debt-to-equity ratio of 0.25), providing substantial financial flexibility • Positive cash generation: Strong operating cash flow of $116 million in 2024 with free cash flow of $110 million, indicating healthy cash conversion • Current ratio of 1.67 shows adequate short-term liquidity to meet obligations • Low solvency risk: Minimal debt burden with strong balance sheet and predictable government reimbursement revenue streams • Valuation appears full: Trading at 21.4x forward P/E and 14.3x EV/EBITDA, representing premium valuations for a mature healthcare services business • Graham number of $37.48 suggests potential overvaluation at current price levels above $100 • Return on equity of 2.1% is relatively low, indicating modest capital efficiency • Other considerations: Revenue visibility from government reimbursement provides stability, but regulatory risk from potential Medicaid policy changes creates uncertainty. Recent Gentiva acquisition integration risk and dependence on state budget health for rate increases present additional considerations.
Recent development
Over the past few years, Addus has pursued an aggressive growth strategy centered on strategic acquisitions and operational improvements to expand market presence and enhance service capabilities. The company's most significant recent development was the acquisition of Gentiva Personal Care operations, completed in late 2024, which added approximately $280 million in annualized revenue and expanded Addus's presence into key markets including Texas, Missouri, North Carolina, Arkansas, California, Arizona, and Tennessee. This acquisition represents the largest in company history and positions Addus as a leading personal care provider in several new states. Technology investments have been a key focus, with the company developing an in-house caregiver mobile application to improve scheduling, communication, and hour utilization. The rollout began in Illinois and New Mexico markets with plans for broader implementation. Additionally, Addus is implementing the Homecare Homebase system to enhance operational efficiency and support value-based care initiatives. The company has made significant workforce management improvements, achieving record hiring levels of up to 86 hires per business day in personal care services while reducing turnover rates from 64% to approximately 50-55%. These improvements have been supported by ARPA funding and strategic wage investments. Value-based care expansion represents a strategic pivot, with Addus now managing seven value-based contracts covering over 6,000 clients. The company is leveraging new technology systems to gather and analyze data for these arrangements, positioning for potential expansion as healthcare shifts toward outcome-based reimbursement models. Regulatory navigation has been crucial, with the company actively monitoring and preparing for potential CMS Medicaid access rule changes that could require 80% of reimbursement to go directly to caregiver wages. Management has submitted comments opposing the proposed rule and is developing contingency plans for various regulatory scenarios.
ADUS company profile · for informational purposes only — not investment advice.
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