Chemed Corp Financials
This page shows Chemed Corp (CHE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
Chemed’s cash-generative, low-capital model is being used for aggressive buybacks, leaving a noticeably thinner liquidity cushion.
Over the last two years, revenue rose about11.7% even as operating margin slipped to13.4% , so added sales did not translate into better operating leverage. The non-obvious link is that cash generation stayed healthy—free cash flow was$325.5M —yet capital returns absorbed even more, with buybacks of$431.5M , helping turn a growing business into a less liquid one.
The operating model still looks light on reinvestment needs: operating cash flow of
The newer revenue is also arriving at lower incremental profitability: gross margin moved from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Chemed Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Chemed Corp has an operating margin of 13.4%, meaning the company retains $13 of operating profit per $100 of revenue. This strong profitability earns a score of 84/100, reflecting efficient cost management and pricing power. This is down from 15.1% the prior year.
Chemed Corp's revenue grew a modest 4.1% year-over-year to $2.5B. This slow but positive growth earns a score of 54/100.
Chemed Corp has a moderate D/E ratio of 0.57. This balance of debt and equity financing earns a leverage score of 57/100.
Chemed Corp's current ratio of 1.05 is below the typical benchmark, resulting in a score of 21/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Chemed Corp converts 12.9% of revenue into free cash flow ($325.5M). This strong cash generation earns a score of 76/100.
Chemed Corp earns a strong 0.0% return on equity (ROE), meaning it generates $0 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 94/100. This is up from 0.0% the prior year.
Chemed Corp scores 12.04, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($6.5B) relative to total liabilities ($558.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Chemed Corp passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Chemed Corp generates $1463.86 in operating cash flow ($388.3M OCF vs $265K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Chemed Corp earns $193.3 in operating income for every $1 of interest expense ($338.2M vs $1.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Chemed Corp generated $2.5B in revenue in fiscal year 2025. This represents an increase of 4.1% from the prior year.
Chemed Corp's EBITDA was $403.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.2% from the prior year.
Chemed Corp reported $265K in net income in fiscal year 2025. This represents a decrease of 12.2% from the prior year.
Chemed Corp earned $0.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 8.0% from the prior year.
Cash & Balance Sheet
Chemed Corp generated $325.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 11.5% from the prior year.
Chemed Corp held $74.5M in cash against $0 in long-term debt as of fiscal year 2025.
Chemed Corp paid $2.20 per share in dividends in fiscal year 2025. This represents an increase of 22.2% from the prior year.
Chemed Corp had 14M shares outstanding in fiscal year 2025. This represents a decrease of 6.0% from the prior year.
Margins & Returns
Chemed Corp's gross margin was 32.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.6 percentage points from the prior year.
Chemed Corp's operating margin was 13.4% in fiscal year 2025, reflecting core business profitability. This is down 1.7 percentage points from the prior year.
Chemed Corp's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.
Chemed Corp's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.
Capital Allocation
Chemed Corp spent $431.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 19.4% from the prior year.
Chemed Corp invested $62.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.8% from the prior year.
CHE Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $657.5M+2.8% | $639.3M+2.3% | $624.9M+1.0% | $618.8M-4.4% | $646.9M+1.1% | $640.0M+5.6% | $606.2M+1.7% | $595.9M |
| Cost of Revenue | $441.7M+6.7% | $414.2M-3.2% | $428.0M-1.4% | $434.1M+0.8% | $430.5M+6.1% | $405.9M+2.4% | $396.2M+1.7% | $389.8M |
| Gross Profit | $215.8M-4.2% | $225.2M+14.4% | $196.9M+6.6% | $184.7M-14.7% | $216.4M-7.6% | $234.1M+11.5% | $210.0M+1.9% | $206.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $114.3M+8.4% | $105.5M-0.3% | $105.8M+5.4% | $100.3M-5.0% | $105.6M+1.3% | $104.3M+2.2% | $102.0M-0.3% | $102.3M |
| Operating Income | $84.6M-16.0% | $100.7M+34.7% | $74.8M+9.8% | $68.1M-28.1% | $94.8M-16.8% | $113.9M+23.6% | $92.2M+4.6% | $88.1M |
| Interest Expense | $512K-1.7% | $521K+14.0% | $457K+3.2% | $443K+34.7% | $329K-34.1% | $499K+16.9% | $427K-0.5% | $429K |
| Income Tax | $22.5M-21.5% | $28.7M+48.6% | $19.3M+3.7% | $18.6M-22.1% | $23.9M-19.8% | $29.8M+18.0% | $25.3M+10.1% | $22.9M |
| Net Income | $66.3M+135.2% | -$188.2M-393.0% | $64.2M+22.4% | $52.5M-26.8% | $71.8M+133.9% | -$211.4M-379.0% | $75.8M+6.9% | $70.9M |
| EPS (Diluted) | $4.84 | N/A | $4.46+24.9% | $3.57-26.5% | $4.86 | N/A | $5.00+7.5% | $4.65 |
CHE Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B-0.2% | $1.5B-5.3% | $1.6B-5.5% | $1.7B-0.5% | $1.7B+3.5% | $1.7B-5.7% | $1.8B+2.0% | $1.7B |
| Current Assets | $274.1M-9.4% | $302.6M-23.4% | $395.2M-19.6% | $491.4M-2.2% | $502.4M+27.3% | $394.7M-19.5% | $490.4M+5.6% | $464.6M |
| Cash & Equivalents | $16.9M-77.4% | $74.5M-42.6% | $129.8M-48.1% | $249.9M+43.7% | $173.9M-2.5% | $178.3M-25.2% | $238.5M+7.0% | $222.9M |
| Inventory | $7.2M-4.4% | $7.5M-8.4% | $8.2M-9.9% | $9.1M+17.4% | $7.8M-4.9% | $8.2M-17.2% | $9.9M-7.8% | $10.7M |
| Accounts Receivable | $215.5M+18.0% | $182.6M-15.3% | $215.6M+16.6% | $184.9M-35.3% | $285.9M+67.0% | $171.2M-12.9% | $196.5M+6.2% | $185.0M |
| Goodwill | $687.5M+3.1% | $667.0M0.0% | $667.0M0.0% | $667.0M0.0% | $666.9M0.0% | $666.7M0.0% | $666.9M+0.7% | $662.1M |
| Total Liabilities | $687.8M+23.1% | $558.8M+2.2% | $546.9M+5.3% | $519.4M-4.7% | $544.8M-0.9% | $549.6M+3.0% | $533.7M+1.1% | $527.7M |
| Current Liabilities | $321.4M+11.9% | $287.1M-1.7% | $292.0M+10.7% | $263.9M-9.2% | $290.6M+1.7% | $285.7M+7.9% | $264.8M+1.2% | $261.8M |
| Long-Term Debt | $91.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $848.0M-13.4% | $979.4M-9.0% | $1.1B-10.2% | $1.2B+1.4% | $1.2B+5.6% | $1.1B-9.4% | $1.2B+2.4% | $1.2B |
| Retained Earnings | $3.0B+2.0% | $3.0B+2.4% | $2.9B+2.0% | $2.8B+1.6% | $2.8B+2.4% | $2.7B+3.1% | $2.6B+2.7% | $2.6B |
CHE Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $88.2M-33.9% | $133.5M+60.1% | $83.4M-39.8% | $138.6M+323.3% | $32.7M-80.1% | $164.9M+82.2% | $90.5M+16.8% | $77.5M |
| Capital Expenditures | $17.1M+4.7% | $16.3M-6.6% | $17.5M+10.7% | $15.8M+19.1% | $13.3M+4.1% | $12.8M-31.6% | $18.6M-80.7% | $96.4M |
| Free Cash Flow | $71.1M-39.3% | $117.2M+77.8% | $65.9M-46.3% | $122.8M+530.9% | $19.5M-87.2% | $152.2M+111.7% | $71.9M+480.0% | -$18.9M |
| Investing Cash Flow | -$37.8M-136.9% | -$16.0M-12.1% | -$14.2M+8.1% | -$15.5M-13.2% | -$13.7M-9.2% | -$12.5M+32.4% | -$18.5M+80.2% | -$93.5M |
| Financing Cash Flow | -$108.1M+37.5% | -$172.8M+8.7% | -$189.3M-301.9% | -$47.1M-100.1% | -$23.5M+88.9% | -$212.5M-276.4% | -$56.5M+24.2% | -$74.5M |
| Dividends Paid | $8.2M-3.8% | $8.5M-1.8% | $8.7M+19.9% | $7.2M-1.5% | $7.3M-2.3% | $7.5M+0.1% | $7.5M+23.6% | $6.1M |
| Share Buybacks | $190.0M+8.9% | $174.6M-3.4% | $180.8M+320.9% | $42.9M+29.3% | $33.2M-84.1% | $209.3M+262.0% | $57.8M+3.7% | $55.8M |
CHE Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.8%-2.4pp | 35.2%+3.7pp | 31.5%+1.7pp | 29.8%-3.6pp | 33.5%-3.1pp | 36.6%+1.9pp | 34.6%+0.1pp | 34.6% |
| Operating Margin | 12.9%-2.9pp | 15.7%+3.8pp | 12.0%+1.0pp | 11.0%-3.6pp | 14.6%-3.1pp | 17.8%+2.6pp | 15.2%+0.4pp | 14.8% |
| Net Margin | 10.1%+39.5pp | -29.4%-39.7pp | 10.3%+1.8pp | 8.5%-2.6pp | 11.1%+44.1pp | -33.0%-45.5pp | 12.5%+0.6pp | 11.9% |
| Return on Equity | 7.8%+27.0pp | -19.2%-25.2pp | 6.0%+1.6pp | 4.4%-1.7pp | 6.1%+25.0pp | -18.9%-25.0pp | 6.1%+0.3pp | 5.9% |
| Return on Assets | 4.3%+16.6pp | -12.2%-16.2pp | 4.0%+0.9pp | 3.1%-1.1pp | 4.2%+16.8pp | -12.7%-17.0pp | 4.3%+0.2pp | 4.1% |
| Current Ratio | 0.85-0.2 | 1.05-0.3 | 1.35-0.5 | 1.86+0.1 | 1.73+0.3 | 1.38-0.5 | 1.85+0.1 | 1.77 |
| Debt-to-Equity | 0.11-0.5 | 0.57+0.1 | 0.51+0.1 | 0.43-0.0 | 0.46-0.0 | 0.49+0.1 | 0.430.0 | 0.44 |
| FCF Margin | 10.8%-7.5pp | 18.3%+7.8pp | 10.5%-9.3pp | 19.8%+16.8pp | 3.0%-20.8pp | 23.8%+11.9pp | 11.9%+15.0pp | -3.2% |
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Frequently Asked Questions
What is Chemed Corp's annual revenue?
Chemed Corp (CHE) reported $2.5B in total revenue for fiscal year 2025. This represents a 4.1% 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 Chemed Corp's revenue growing?
Chemed Corp (CHE) revenue grew by 4.1% year-over-year, from $2.4B to $2.5B in fiscal year 2025.
Is Chemed Corp profitable?
Yes, Chemed Corp (CHE) reported a net income of $265K in fiscal year 2025, with a net profit margin of 0.0%.
What is Chemed Corp's EBITDA?
Chemed Corp (CHE) had EBITDA of $403.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Chemed Corp's gross margin?
Chemed Corp (CHE) had a gross margin of 32.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Chemed Corp's operating margin?
Chemed Corp (CHE) had an operating margin of 13.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Chemed Corp's net profit margin?
Chemed Corp (CHE) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Chemed Corp pay dividends?
Yes, Chemed Corp (CHE) paid $2.20 per share in dividends during fiscal year 2025.
What is Chemed Corp's return on equity (ROE)?
Chemed Corp (CHE) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Chemed Corp's free cash flow?
Chemed Corp (CHE) generated $325.5M in free cash flow during fiscal year 2025. This represents a -11.5% 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 Chemed Corp's operating cash flow?
Chemed Corp (CHE) generated $388.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Chemed Corp's total assets?
Chemed Corp (CHE) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Chemed Corp's capital expenditures?
Chemed Corp (CHE) invested $62.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Chemed Corp's current ratio?
Chemed Corp (CHE) had a current ratio of 1.05 as of fiscal year 2025, which is considered adequate.
What is Chemed Corp's debt-to-equity ratio?
Chemed Corp (CHE) had a debt-to-equity ratio of 0.57 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Chemed Corp's return on assets (ROA)?
Chemed Corp (CHE) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Chemed Corp's Altman Z-Score?
Chemed Corp (CHE) has an Altman Z-Score of 12.04, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Chemed Corp's Piotroski F-Score?
Chemed Corp (CHE) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Chemed Corp's earnings high quality?
Chemed Corp (CHE) has an earnings quality ratio of 1463.86x, 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 Chemed Corp cover its interest payments?
Chemed Corp (CHE) has an interest coverage ratio of 193.3x, meaning it can comfortably 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.
How financially healthy is Chemed Corp?
Chemed Corp (CHE) scores 64 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.