Option Care Health, Inc.
- Open
- 23.74
- Day high
- 23.80
- Day low
- 23.41
- Prev close
- 23.90
- Volume
- 1.7M
- Mkt cap
- $3.5B
- P/E (TTM)
- 17.6
- EPS (TTM)
- $1.33
- P/B
- 2.8
- P/S
- 0.6
- Yield
- —
- Per share
- —
Option Care Health, Inc. (OPCH) is a Healthcare company listed on NASDAQ. The stock is down 17% over the past year. Drillr has 2 published research articles covering OPCH.
Option Care Health, Inc. (OPCH) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OPCH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $0.43 | $0.45 | +5.6% | $1.4B | +1.6% |
| Apr 30, 2026 | $0.37 | $0.40 | +8.1% | $1.4B | -2.8% |
| Feb 24, 2026 | $0.46 | $0.37 | -19.6% | $1.5B | +3.7% |
| Oct 30, 2025 | $0.43 | $0.45 | +4.7% | $1.4B | -1.9% |
| Jul 30, 2025 | $0.40 | $0.41 | +2.5% | $1.4B | +1.0% |
| Feb 26, 2025 | $0.33 | $0.35 | +6.1% | $1.3B | +9.5% |
| Jul 31, 2024 | $0.27 | $0.30 | +11.1% | $1.2B | +4.9% |
| Feb 22, 2024 | $0.29 | $0.32 | +9.6% | $1.1B | +2.9% |
| Oct 25, 2023 | $0.28 | $0.31 | +10.3% | $1.1B | +0.1% |
| Jul 27, 2023 | $0.22 | $0.63 | +186.4% | $1.1B | +0.3% |
| May 3, 2023 | $0.18 | $0.21 | +16.7% | $1.0B | +1.4% |
| Feb 23, 2023 | $0.22 | $0.22 | +0.0% | $1.0B | +0.2% |
OPCH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | Bhatia Prateekofficer: EVP Sp Sales & Solutions | Grant | 16,386 | — |
| Jul 8, 2026 | Bhatia Prateekofficer: EVP Sp Sales & Solutions | Grant | 23,409 | — |
| May 22, 2026 | KRAEMER HARRY M JANSEN JRdirector | Grant | 12,079 | $22.23 |
| May 22, 2026 | Deckmann Natashadirector | Grant | 8,997 | — |
| May 22, 2026 | Deckmann Natashadirector | Grant | 844 | $22.23 |
| May 22, 2026 | Bierbower Elizabeth Ddirector | Grant | 8,997 | — |
| May 22, 2026 | BRANDT ERICdirector | Grant | 2,643 | $22.23 |
| May 22, 2026 | SULLIVAN TIMOTHY Pdirector | Grant | 8,997 | — |
| May 22, 2026 | Pate R Carterdirector | Grant | 8,997 | — |
| May 22, 2026 | Wright Norman L.director | Grant | 8,997 | — |
| May 22, 2026 | KRAEMER HARRY M JANSEN JRdirector | Grant | 8,997 | — |
| May 22, 2026 | BRANDT ERICdirector | Grant | 8,997 | — |
| May 22, 2026 | Bodem Barbara W.director | Grant | 8,997 | — |
| May 22, 2026 | SULLIVAN TIMOTHY Pdirector | Grant | 4,836 | $22.23 |
| May 21, 2026 | Smyser Collinofficer: GC & Corporate Secretary | Tax | 360 | $20.86 |
Source: OPCH SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full OPCH insider & 13F page →OPCH research & analysis
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Option Care Health, Inc. company profile
Overview
Option Care Health, Inc. (NASDAQ:OPCH) is the largest provider of home and alternate site infusion services in the United States. Founded in 1996 and headquartered in Bannockburn, Illinois, the company has grown through organic expansion and strategic acquisitions to become a national leader in specialized healthcare delivery. Option Care Health operates a comprehensive network of compounding pharmacies, infusion suites, and clinical services that enable patients to receive complex medical treatments in their homes or convenient outpatient settings rather than traditional hospital environments.
Business
Option Care Health operates in the home infusion therapy industry, which represents a critical segment of the broader healthcare delivery system. Home infusion involves the administration of medications, nutrients, and other therapeutic substances directly into a patient's bloodstream through intravenous (IV) lines, typically in the patient's home or outpatient infusion centers. The company's services are divided into two primary therapeutic categories. Chronic therapies account for approximately 75% of revenue and include treatments for long-term conditions such as immune deficiencies (immunoglobulin infusions), chronic inflammatory disorders like Crohn's disease and rheumatoid arthritis, neurological conditions including ALS and muscular dystrophy, bleeding disorders, and high-risk pregnancy support. These therapies often involve expensive specialty medications and require ongoing, sometimes lifelong treatment. Acute therapies represent about 25% of revenue and focus on shorter-term treatments including anti-infective therapies (antibiotics), parenteral and enteral nutrition for patients who cannot eat normally due to conditions like stroke or gastrointestinal diseases, chemotherapy, pain management, and respiratory medications. These treatments typically have defined treatment courses lasting weeks to months. Option Care Health also provides comprehensive clinical nursing services, operating one of the largest networks of specialized infusion nurses in the country. The company has expanded its service delivery model to include over 175 ambulatory infusion suites with more than 750 infusion chairs, allowing patients to receive treatments in comfortable, clinic-like settings when home administration isn't optimal.
Revenue model
Option Care Health generates revenue primarily through product sales and service fees paid by health insurance plans, Medicare, Medicaid, and patients. The company's business model involves purchasing specialty medications and medical supplies, then providing comprehensive infusion services that include drug preparation in sterile compounding pharmacies, clinical nursing services, patient education, and ongoing monitoring. The company's customers are primarily health insurance payers including commercial insurance plans, Medicare Advantage plans, traditional Medicare, and Medicaid programs. These payers reimburse Option Care Health for both the cost of medications and the clinical services provided. The reimbursement structure typically includes separate payments for drug acquisition costs and professional service fees. Several factors significantly impact the company's margins. Drug pricing dynamics represent the most significant variable, as Option Care Health earns a spread between what it pays pharmaceutical manufacturers and what payers reimburse. The introduction of biosimilar competitors to expensive specialty drugs can compress these spreads substantially, as seen with the anticipated impact from Stelara biosimilars expected to reduce gross profits by $60-70 million in 2025. Payer mix affects profitability, with Medicare Advantage and commercial insurance generally providing better reimbursement rates than traditional Medicare or Medicaid. Operational efficiency factors also influence margins, including nurse productivity improvements through the infusion suite model (which can increase productivity by 20%), supply chain optimization, and technology investments in areas like AI-driven revenue cycle management. Regulatory changes such as Medicare reimbursement rate adjustments, site neutrality policies, and drug pricing transparency requirements can materially impact profitability. The company faces ongoing cost inflation in labor, medical supplies, and transportation, which must be offset through operational improvements and selective rate negotiations with payers.
Competitive moat
Option Care Health possesses a moderate but meaningful economic moat built primarily on network effects, switching costs, and operational scale advantages. The company's national infrastructure of specialized compounding pharmacies, trained clinical staff, and infusion facilities creates significant barriers to entry, as replicating this network would require substantial capital investment and years of development. The company benefits from high switching costs for both patients and healthcare providers. Patients receiving chronic therapies often develop relationships with specific nurses and care coordinators, making transitions to competitors disruptive. Healthcare providers value Option Care Health's comprehensive service model and clinical expertise, particularly for complex rare and orphan drug therapies that require specialized handling and patient support. Regulatory and clinical expertise serves as another protective factor. The company's experience with sterile compounding, cold-chain logistics for temperature-sensitive biologics, and management of complex prior authorization processes creates operational advantages that smaller competitors struggle to match. The company's scale enables it to maintain relationships with multiple pharmaceutical manufacturers and secure favorable procurement terms. However, the moat faces several challenges. Payer consolidation increases buyer power and pricing pressure. Large health systems are increasingly developing internal infusion capabilities, potentially bypassing Option Care Health's services. Biosimilar competition and evolving drug pricing policies can rapidly erode profit margins on specific therapies. The company's dependence on a relatively small number of high-value chronic therapies creates concentration risk, as demonstrated by the Stelara margin compression expected in 2025. The competitive landscape includes other national players like Coram CVS Specialty Infusion and BioScrip (now part of Option Care Health), regional infusion companies, and hospital-based outpatient infusion centers. While Option Care Health's scale provides advantages, the industry remains fragmented enough that competitors can target specific geographic markets or therapeutic areas.
Risks & safety
Option Care Health demonstrates moderate financial safety with generally stable cash generation but some leverage concerns. **Liquidity and Debt:** 1. Cash position of $171 million as of Q1 2025, down from $413 million in Q4 2024 due to acquisitions and share repurchases 2. Current ratio of 1.54x indicates adequate short-term liquidity 3. Net debt-to-EBITDA leverage of approximately 1.6x, manageable but elevated from historical lows 4. Debt-to-equity ratio of 0.91x shows moderate leverage **Cash Flow:** 1. Operating cash flow turned negative at -$7 million in Q1 2025, concerning but likely seasonal 2. Free cash flow of -$17 million in Q1 2025 versus $288 million for full year 2024 3. Historical cash flow generation has been strong, with $323 million from operations in 2024 **Valuation Metrics:** 1. EV/EBITDA of 17.9x appears elevated relative to historical levels 2. P/E ratio of 30.9x suggests high valuation expectations 3. Price-to-book ratio of 4.3x indicates premium valuation **Other Considerations:** 1. Stelara margin headwinds create near-term earnings uncertainty 2. Acquisition strategy requires continued capital deployment 3. Healthcare reimbursement environment presents ongoing regulatory risks
Recent development
Over the past few years, Option Care Health has pursued several key strategic initiatives focused on expanding its service delivery capabilities and diversifying its therapeutic portfolio. The company has significantly expanded its ambulatory infusion suite network, growing from approximately 150 locations to over 175 sites with more than 750 infusion chairs. This expansion represents a strategic shift toward providing patients with convenient outpatient alternatives to home-based care, while improving nurse productivity by up to 20% in mature locations. The company has made substantial technology investments, including AI-embedded intelligence in patient registration processes and robotic process automation in revenue cycle management. These initiatives aim to improve operational efficiency and reduce administrative costs. Option Care Health also launched the TouchPoint mobile app for enhanced patient engagement and acquired Specialty Pharmacy Nursing Network to expand its clinical capabilities. Strategic acquisitions have been a consistent focus, with the most recent being Intramed Plus in the Southeast region for $117 million in early 2025. The company has maintained a disciplined approach to M&A, focusing on complementary businesses that enhance geographic coverage or clinical capabilities rather than pursuing large transformational deals. The company has increasingly emphasized rare and orphan therapies as a growth driver, recognizing these treatments typically offer better margins and more stable reimbursement compared to more commoditized acute therapies. This strategic focus has contributed to strong growth in the chronic therapy portfolio, which now represents approximately 75% of total revenue. Capital allocation has balanced growth investments with shareholder returns. The company has repurchased over $100 million in stock during 2024 and early 2025 while maintaining financial flexibility for acquisitions. Management has also invested in expanding compounding pharmacy capabilities, opening new state-of-the-art facilities in New York City and Tampa to support growing demand for complex sterile preparations.
OPCH company profile · for informational purposes only — not investment advice.
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