BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BTSGU SEC filings page.
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) reported $14.4B in revenue over the twelve months to Jun 30, 2026, up 33.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue scale is widening operating leverage while lower gross margins and falling debt costs reshape earnings quality.
Revenue rose from$7.7B in FY2023 to$12.9B in FY2025, creating a much larger base for fixed costs to absorb. Operating margin expanded to2.3% even as gross margin compressed to11.8% , indicating SG&A was absorbing scale faster than gross economics deteriorated.
FY2025 net income of
Debt-to-equity fell from 5.7x in FY2023 to 1.3x in FY2025, reducing the balance sheet's reliance on creditors. The current ratio rose from 1.2x to 1.6x over the same span, so improving short-term liquidity accompanied deleveraging.
Financial Health Signals
BrightSpring Health Services, Inc. Tangible Equity Unit does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
BrightSpring Health Services, Inc. Tangible Equity Unit passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, BrightSpring Health Services, Inc. Tangible Equity Unit generates $2.59 in operating cash flow ($490.2M OCF vs $189.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
BrightSpring Health Services, Inc. Tangible Equity Unit earns $1.88 in operating income for every $1 of interest expense ($295.3M vs $157.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
BrightSpring Health Services, Inc. Tangible Equity Unit generated $3.9B in revenue in Q2 2026. This represents an increase of 23.0% from the same quarter a year earlier. Against the prior quarter it is up 7.2%.
BrightSpring Health Services, Inc. Tangible Equity Unit's EBITDA was $171.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 90.1% from the same quarter a year earlier. Against the prior quarter it is up 7.0%.
BrightSpring Health Services, Inc. Tangible Equity Unit reported $84.3M in net income in Q2 2026. This represents an increase of 198.8% from the same quarter a year earlier. Against the prior quarter it is down 43.3%.
BrightSpring Health Services, Inc. Tangible Equity Unit earned $0.38 per diluted share (EPS) in Q2 2026. This represents an increase of 192.3% from the same quarter a year earlier. Against the prior quarter it is down 43.3%.
Cash & Balance Sheet
BrightSpring Health Services, Inc. Tangible Equity Unit generated $14.9M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 39.6% from the same quarter a year earlier. Against the prior quarter it is down 85.3%.
BrightSpring Health Services, Inc. Tangible Equity Unit held $550.4M in cash against $2.1B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
BrightSpring Health Services, Inc. Tangible Equity Unit's gross margin was 12.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
BrightSpring Health Services, Inc. Tangible Equity Unit's operating margin was 3.4% in Q2 2026, reflecting core business profitability. This is up 1.8 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
BrightSpring Health Services, Inc. Tangible Equity Unit's net profit margin was 2.2% in Q2 2026, showing the share of revenue converted to profit. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.
BrightSpring Health Services, Inc. Tangible Equity Unit's ROE was 4.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.4 percentage points.
Capital Allocation
BrightSpring Health Services, Inc. Tangible Equity Unit spent $60.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. It is unchanged from the prior quarter.
BrightSpring Health Services, Inc. Tangible Equity Unit invested $29.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 18.9% from the same quarter a year earlier. Against the prior quarter it is up 34.8%.
Not reported for Q2 2026.
BTSGU Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B+23.0% | $3.6B+25.6% | $3.6B+91.0% | $3.3B+14.7% | $3.1B+15.3% | $2.9B+11.7% | $1.9B+50.0% | $2.9B+28.8% |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $2.5B+31.6% |
| Gross Profit | $492.7M+31.5% | $482.2M+42.5% | $412.5M+21.8% | $392.0M+21.3% | $374.9M+20.1% | $338.4M+15.7% | $338.7M+358.2% | $323.1M-9.8% |
| SG&A Expenses | $362.4M+11.1% | $360.8M+25.4% | $304.4M+7.5% | $304.2M+3.5% | $326.3M+19.3% | $287.6M-6.6% | $283.1M+198.9% | $294.0M-28.4% |
| Operating Income | $130.4M+168.5% | $121.4M+139.4% | $108.1M+94.7% | $87.8M+201.9% | $48.6M+25.6% | $50.7M+430.9% | $55.5M+367.1% | $29.1M+155.7% |
| EBITDA | $171.8M+90.1% | $160.5M+72.8% | $147.6M+33.7% | $128.6M+61.3% | $90.4M+1.9% | $92.9M+176.6% | $110.4M+265.4% | $79.7M+5489.1% |
| Interest Expense | $36.9M-4.9% | $38.6M-7.5% | $38.5M-16.6% | $38.2M-18.0% | $38.8M-10.4% | $41.8M-23.3% | $46.2M+52.1% | $46.6M-44.3% |
| Income Tax | $6.9M+458.0% | $8.6M+3662.9% | $20.0M+294.5% | $12.1M+48.6% | $1.2M+109.4% | -$240K+99.1% | $5.1M+127.4% | $8.2M+240.4% |
| Net Income | $84.3M+198.8% | $148.8M+403.6% | $75.5M+38.4% | $55.8M+778.4% | $28.2M+41.6% | $29.5M+164.6% | $54.6M+935.0% | -$8.2M+93.7% |
| EPS (Basic) | $0.41+192.9% | $0.73+386.7% | $0.38+322.2% | $0.27+775.0% | $0.14+40.0% | $0.15+157.7% | $0.09+280.0% | -$0.04+96.4% |
| EPS (Diluted) | $0.38+192.3% | $0.67+378.6% | $0.35 | $0.26+750.0% | $0.13+30.0% | $0.14+153.8% | $0.09 | -$0.04 |
| Diluted Shares (Avg) | 220M+1.8% | 221M+3.0% | N/A | 218M+9.8% | 216M+3.5% | 215M+22.4% | N/A | 198M |
Not reported in any period shown, so not listed: R&D Expenses.
BTSGU Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.0B+0.7% | $6.2B+6.3% | $6.4B+8.2% | $6.0B+4.6% | $5.9B+6.0% | $5.8B+3.4% | $5.9B+7.1% | $5.8B |
| Current Assets | $2.5B-6.7% | $2.7B+6.4% | $2.9B+52.9% | $2.8B+62.6% | $2.6B+74.0% | $2.5B+60.8% | $1.9B+30.0% | $1.7B |
| Cash & Equivalents | $550.4M+685.5% | $888.8M+1598.2% | $88.4M+45.0% | $140.3M+290.1% | $70.1M+180.0% | $52.3M-9.8% | $61.0M+390.4% | $36.0M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $575.0M-8.1% | $560.2M+5.0% | $815.2M+28.1% | $639.2M+33.6% | $625.5M+67.1% | $533.6M+42.8% | $636.6M+59.6% | $478.3M |
| Accounts Receivable | $1.1B+17.1% | $1.1B+14.2% | $989.7M+9.6% | $1.0B-1.2% | $972.7M-1.2% | $975.3M-1.5% | $902.8M+17.7% | $1.0B |
| Long-Term Investments | $7.5M | $7.5M | $7.5M+424.2% | $0 | $0 | $0 | $1.4M | $0 |
| Goodwill | $2.5B+7.0% | $2.5B+6.9% | $2.5B+7.7% | $2.4B-11.3% | $2.4B-9.8% | $2.4B-9.2% | $2.4B+2.7% | $2.7B |
| Total Liabilities | $3.9B-6.4% | $4.2B+1.6% | $4.5B+5.9% | $4.2B+1.5% | $4.2B+5.0% | $4.2B+1.8% | $4.3B-13.1% | $4.2B |
| Current Liabilities | $1.6B+3.3% | $1.5B+6.2% | $1.8B+29.5% | $1.5B+22.6% | $1.5B+31.5% | $1.5B+17.1% | $1.4B+14.4% | $1.3B |
| Non-Current Liabilities | $2.4B-11.9% | $2.7B-0.9% | $2.7B-5.9% | $2.7B-7.7% | $2.7B-5.7% | $2.7B-4.8% | $2.8B-22.5% | $2.9B |
| Long-Term Debt | $2.1B-13.3% | $2.4B-1.8% | $2.5B-4.2% | $2.5B-5.5% | $2.5B-3.3% | $2.5B-1.0% | $2.6B-23.1% | $2.6B |
| Total Equity | $2.0B+17.5% | $2.0B+17.3% | $1.9B+13.8% | $1.8B+12.6% | $1.7B+9.0% | $1.7B+7.6% | $1.6B+181.8% | $1.6B+155.7% |
| Retained Earnings | $38.4M+123.4% | $14.1M+107.3% | -$74.6M+66.4% | -$108.6M+53.7% | -$164.4M+27.3% | -$192.6M+21.7% | -$222.2M-10.9% | -$234.4M |
BTSGU Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $43.9M-10.5% | $122.9M+21.0% | $231.6M+155.6% | $107.9M+296.2% | $49.1M+422.3% | $101.6M+228.8% | $90.6M-44.2% | $27.2M-19.1% |
| Depreciation & Amortization | $41.4M-1.0% | $39.1M-7.3% | $39.5M-28.0% | $40.8M-19.5% | $41.8M-16.4% | $42.2M-13.8% | $54.9M+7.6% | $50.6M-0.3% |
| Stock-Based Compensation | N/A | $3.7M-76.6% | N/A | N/A | N/A | $15.7M-36.9% | N/A | N/A |
| Capital Expenditures | $29.0M+18.9% | $21.5M+22.2% | $37.7M+146.0% | $15.8M-21.4% | $24.4M+2.9% | $17.6M-19.2% | $15.3M-9.0% | $20.0M+12.0% |
| Free Cash Flow | $14.9M-39.6% | $101.4M+20.8% | $193.9M+157.5% | $92.2M+1179.7% | $24.7M+163.3% | $84.0M+183.4% | $75.3M-48.3% | $7.2M-54.4% |
| Investing Cash Flow | -$28.2M-21.3% | $747.4M+3189.5% | -$233.9M-1382.2% | -$23.8M+33.7% | -$23.2M+59.7% | -$24.2M+21.8% | -$15.8M+7.3% | -$35.8M+34.4% |
| Financing Cash Flow | -$354.1M-4196.2% | -$70.0M+18.6% | -$50.5M-1.9% | -$13.1M-167.1% | -$8.2M-120.7% | -$86.0M-155.6% | -$49.6M+65.6% | $19.5M-8.5% |
| Share Buybacks | $60.0M | $60.0M | N/A | N/A | N/A | N/A | $0-100.0% | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
BTSGU Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.7%+0.8pp | 13.3%+1.6pp | 11.6%-6.6pp | 11.8%+0.6pp | 11.9%+0.5pp | 11.8%+0.4pp | 18.2%+12.3pp | 11.1%-4.8pp |
| Operating Margin | 3.4%+1.8pp | 3.4%+1.6pp | 3.0%+0.1pp | 2.6%+1.6pp | 1.5%+0.1pp | 1.8%+2.4pp | 3.0%+4.7pp | 1.0%+3.3pp |
| Net Margin | 2.2%+1.3pp | 4.1%+3.1pp | 2.1%-0.8pp | 1.7%+1.9pp | 0.9%+0.2pp | 1.0%+2.8pp | 2.9%+3.5pp | -0.3%+5.5pp |
| Return on Equity | 4.1%+2.5pp | 7.5%+5.8pp | 4.0%+0.7pp | 3.1%+3.6pp | 1.6%+0.4pp | 1.8%+4.7pp | 3.3%+4.4pp | -0.5%+20.2pp |
| Return on Assets | 1.4%+0.9pp | 2.4%+1.9pp | 1.2%+0.3pp | 0.9%+1.1pp | 0.5%+0.1pp | 0.5%+1.3pp | 0.9%+1.0pp | -0.1% |
| Current Ratio | 1.59-0.2x | 1.740.0x | 1.57+0.2x | 1.79+0.4x | 1.76+0.4x | 1.73+0.5x | 1.33+0.2x | 1.35 |
| Debt-to-Equity | 1.05-0.4x | 1.24-0.2x | 1.31-0.2x | 1.36-0.3x | 1.42-0.2x | 1.48-0.1x | 1.55-4.1x | 1.62 |
| Asset Turnover | 0.65+0.1x | 0.58+0.1x | 0.55+0.2x | 0.550.0x | 0.530.0x | 0.490.0x | 0.31+0.1x | 0.50 |
| FCF Margin | 0.4%-0.4pp | 2.8%-0.1pp | 5.5%+1.4pp | 2.8%+2.5pp | 0.8%+2.2pp | 2.9%+6.8pp | 4.0%-7.7pp | 0.3%-0.5pp |
Where BrightSpring Health Services, Inc. Tangible Equity Unit Ranks
Frequently Asked Questions
What is BrightSpring Health Services, Inc. Tangible Equity Unit's annual revenue?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) reported $12.9B in total revenue for fiscal year 2025. This represents a 28.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is BrightSpring Health Services, Inc. Tangible Equity Unit's revenue growing?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) revenue grew by 28.2% year-over-year, from $10.1B to $12.9B in fiscal year 2025.
Is BrightSpring Health Services, Inc. Tangible Equity Unit profitable?
Yes, BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) reported a net income of $189.1M in fiscal year 2025, with a net profit margin of 1.5%.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's EBITDA?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had EBITDA of $459.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does BrightSpring Health Services, Inc. Tangible Equity Unit have?
As of fiscal year 2025, BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had $88.4M in cash and equivalents against $2.5B in long-term debt.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's gross margin?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had a gross margin of 11.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's operating margin?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had an operating margin of 2.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's net profit margin?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had a net profit margin of 1.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's return on equity (ROE)?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) has a return on equity of 10.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's free cash flow?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) generated $394.7M in free cash flow during fiscal year 2025. This represents a 790.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's operating cash flow?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) generated $490.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are BrightSpring Health Services, Inc. Tangible Equity Unit's total assets?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had $6.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are BrightSpring Health Services, Inc. Tangible Equity Unit's capital expenditures?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) invested $95.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's current ratio?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had a current ratio of 1.57 as of fiscal year 2025, which is generally considered healthy.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's debt-to-equity ratio?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had a debt-to-equity ratio of 1.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's return on assets (ROA)?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) had a return on assets of 2.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is BrightSpring Health Services, Inc. Tangible Equity Unit's Piotroski F-Score?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are BrightSpring Health Services, Inc. Tangible Equity Unit's earnings high quality?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) has an earnings quality ratio of 2.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can BrightSpring Health Services, Inc. Tangible Equity Unit cover its interest payments?
BrightSpring Health Services, Inc. Tangible Equity Unit (BTSGU) has an interest coverage ratio of 1.88x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.