Enhabit Financials
This page shows Enhabit (EHAB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Enhabit's profit recovery is being driven by overhead repair and cash conversion, not by meaningful top-line expansion.
From FY2023 to FY2025, gross margin stayed near49.0% while operating margin moved from-4.6% to1.5% ; that pattern points to recovery below the gross-profit line, with SG&A restraint and fixed-cost absorption doing more work than revenue growth. At the same time, FY2025 produced$70.7M of operating cash flow and$65.8M of free cash flow despite a-$4.6M net loss, so the business is currently more cash-generative than GAAP earnings suggest.
Revenue barely moved between FY2023 and FY2025, from
The balance sheet is asset-heavy in goodwill:
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 Enhabit'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.
Enhabit has an operating margin of 1.5%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 21/100, suggesting thin profitability after operating expenses. This is up from -11.1% the prior year.
Enhabit's revenue grew a modest 2.4% year-over-year to $1.1B. This slow but positive growth earns a score of 34/100.
Enhabit has elevated debt relative to equity (D/E of 0.80), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 5/100, reflecting increased financial risk.
Enhabit's current ratio of 1.63 indicates adequate short-term liquidity, earning a score of 46/100. The company can meet its near-term obligations, though with limited headroom.
Enhabit has a free cash flow margin of 6.2%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.
Enhabit generates a -0.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 22/100. This is up from -29.8% the prior year.
Enhabit scores 1.85, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Enhabit passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Enhabit generates $-15.37 in operating cash flow ($70.7M OCF vs -$4.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Enhabit generated $1.1B in revenue in fiscal year 2025. This represents an increase of 2.4% from the prior year.
Enhabit's EBITDA was $38.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 146.2% from the prior year.
Enhabit reported -$4.6M in net income in fiscal year 2025. This represents an increase of 97.1% from the prior year.
Enhabit earned $-0.09 per diluted share (EPS) in fiscal year 2025. This represents an increase of 97.1% from the prior year.
Cash & Balance Sheet
Enhabit generated $65.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 38.8% from the prior year.
Enhabit held $43.6M in cash against $426.0M in long-term debt as of fiscal year 2025.
Enhabit had 51M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Enhabit's gross margin was 49.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the prior year.
Enhabit's operating margin was 1.5% in fiscal year 2025, reflecting core business profitability. This is up 12.6 percentage points from the prior year.
Enhabit's net profit margin was -0.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 14.7 percentage points from the prior year.
Enhabit's ROE was -0.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 29.0 percentage points from the prior year.
Capital Allocation
Enhabit invested $4.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 28.9% from the prior year.
EHAB Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $264.8M-2.1% | $270.4M+2.6% | $263.6M-0.9% | $266.1M+2.4% | $259.9M+0.7% | $258.2M+1.8% | $253.6M-2.7% | $260.6M |
| Cost of Revenue | $134.2M-3.2% | $138.7M+2.1% | $135.8M+0.2% | $135.5M+4.1% | $130.2M-2.2% | $133.1M+1.1% | $131.7M-0.1% | $131.8M |
| Gross Profit | $130.6M-0.8% | $131.7M+3.1% | $127.8M-2.1% | $130.6M+0.7% | $129.7M+3.7% | $125.1M+2.6% | $121.9M-5.4% | $128.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $96.7M-13.9% | $112.3M+6.4% | $105.5M-2.5% | $108.2M+0.7% | $107.5M+2.8% | $104.6M+0.8% | $103.8M-5.6% | $110.0M |
| Operating Income | $29.3M+188.0% | -$33.3M-298.2% | $16.8M+0.6% | $16.7M+5.0% | $15.9M+138.6% | -$41.2M+58.0% | -$98.0M-975.0% | $11.2M |
| Interest Expense | $6.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $3.1M+224.0% | -$2.5M+21.9% | -$3.2M-239.1% | $2.3M-68.9% | $7.4M+234.5% | -$5.5M-885.7% | $700K+800.0% | -$100K |
| Net Income | $19.2M+149.6% | -$38.7M-448.6% | $11.1M+113.5% | $5.2M-70.8% | $17.8M+138.7% | -$46.0M+58.3% | -$110.2M-55000.0% | -$200K |
| EPS (Diluted) | $0.36 | N/A | $0.22+120.0% | $0.10-71.4% | $0.35 | N/A | $-2.20 | $0.00 |
EHAB Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+1.0% | $1.2B-5.0% | $1.2B+0.2% | $1.2B-0.8% | $1.2B+0.8% | $1.2B-6.0% | $1.3B-8.1% | $1.4B |
| Current Assets | $219.2M+6.6% | $205.6M-3.8% | $213.7M+4.0% | $205.5M-2.7% | $211.3M+9.7% | $192.7M-7.4% | $208.2M+0.7% | $206.8M |
| Cash & Equivalents | $50.0M+14.7% | $43.6M-23.4% | $56.9M+53.4% | $37.1M-6.1% | $39.5M+39.1% | $28.4M-37.9% | $45.7M+60.4% | $28.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $154.4M+7.2% | $144.0M-3.2% | $148.7M-6.2% | $158.5M-1.5% | $160.9M+7.8% | $149.2M-1.1% | $150.9M-9.1% | $166.0M |
| Goodwill | $855.3M0.0% | $855.3M-5.0% | $900.0M0.0% | $900.0M0.0% | $900.0M0.0% | $900.0M-5.6% | $953.8M-10.2% | $1.1B |
| Total Liabilities | $595.0M-1.3% | $603.0M-4.4% | $631.0M-1.8% | $642.5M-3.0% | $662.6M-1.4% | $672.1M-4.9% | $706.4M-1.0% | $713.6M |
| Current Liabilities | $140.2M+11.0% | $126.3M-6.8% | $135.5M+3.5% | $130.9M-7.5% | $141.5M+12.1% | $126.2M-11.7% | $142.9M+2.0% | $140.1M |
| Long-Term Debt | $402.6M-5.5% | $426.0M-3.5% | $441.5M-3.4% | $456.9M-2.2% | $467.3M-5.1% | $492.6M-2.0% | $502.9M-1.9% | $512.7M |
| Total Equity | $553.5M+3.7% | $534.0M-5.8% | $566.8M+2.6% | $552.4M+1.7% | $543.2M+3.8% | $523.5M-7.5% | $566.1M-16.0% | $674.3M |
| Retained Earnings | N/A | $93.7M | N/A | N/A | N/A | $98.3M | N/A | N/A |
EHAB Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $35.2M+700.0% | $4.4M-88.4% | $37.8M+256.6% | $10.6M-40.8% | $17.9M+536.6% | -$4.1M-114.4% | $28.4M+195.8% | $9.6M |
| Capital Expenditures | $2.5M+127.3% | $1.1M-31.3% | $1.6M-15.8% | $1.9M+533.3% | $300K-50.0% | $600K-14.3% | $700K0.0% | $700K |
| Free Cash Flow | $32.7M+890.9% | $3.3M-90.9% | $36.2M+316.1% | $8.7M-50.6% | $17.6M+474.5% | -$4.7M-117.0% | $27.7M+211.2% | $8.9M |
| Investing Cash Flow | -$2.6M-188.9% | -$900K+35.7% | -$1.4M+22.2% | -$1.8M-108.7% | $20.8M+7033.3% | -$300K+25.0% | -$400K+33.3% | -$600K |
| Financing Cash Flow | -$26.6M-57.4% | -$16.9M-3.0% | -$16.4M-53.3% | -$10.7M+62.1% | -$28.2M-122.0% | -$12.7M-17.6% | -$10.8M+40.7% | -$18.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
EHAB Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.3%+0.6pp | 48.7%+0.2pp | 48.5%-0.6pp | 49.1%-0.8pp | 49.9%+1.5pp | 48.4%+0.4pp | 48.1%-1.3pp | 49.4% |
| Operating Margin | 11.1%+23.4pp | -12.3%-18.7pp | 6.4%+0.1pp | 6.3%+0.2pp | 6.1%+22.1pp | -16.0%+22.7pp | -38.6%-42.9pp | 4.3% |
| Net Margin | 7.2%+21.6pp | -14.3%-18.5pp | 4.2%+2.3pp | 1.9%-4.9pp | 6.9%+24.7pp | -17.8%+25.6pp | -43.5%-43.4pp | -0.1% |
| Return on Equity | 3.5%+10.7pp | -7.2%-9.2pp | 2.0%+1.0pp | 0.9%-2.3pp | 3.3%+12.1pp | -8.8%+10.7pp | -19.5%-19.4pp | -0.0% |
| Return on Assets | 1.6%+5.0pp | -3.3%-4.2pp | 0.9%+0.5pp | 0.4%-1.0pp | 1.4%+5.2pp | -3.8%+4.7pp | -8.5%-8.4pp | -0.0% |
| Current Ratio | 1.56-0.1 | 1.63+0.1 | 1.580.0 | 1.57+0.1 | 1.49-0.0 | 1.53+0.1 | 1.46-0.0 | 1.48 |
| Debt-to-Equity | 0.73-0.1 | 0.80+0.0 | 0.78-0.0 | 0.83-0.0 | 0.86-0.1 | 0.94+0.1 | 0.89+0.1 | 0.76 |
| FCF Margin | 12.3%+11.1pp | 1.2%-12.5pp | 13.7%+10.5pp | 3.3%-3.5pp | 6.8%+8.6pp | -1.8%-12.7pp | 10.9%+7.5pp | 3.4% |
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Frequently Asked Questions
What is Enhabit's annual revenue?
Enhabit (EHAB) reported $1.1B in total revenue for fiscal year 2025. This represents a 2.4% 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 Enhabit's revenue growing?
Enhabit (EHAB) revenue grew by 2.4% year-over-year, from $1.0B to $1.1B in fiscal year 2025.
Is Enhabit profitable?
No, Enhabit (EHAB) reported a net income of -$4.6M in fiscal year 2025, with a net profit margin of -0.4%.
What is Enhabit's EBITDA?
Enhabit (EHAB) had EBITDA of $38.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Enhabit have?
As of fiscal year 2025, Enhabit (EHAB) had $43.6M in cash and equivalents against $426.0M in long-term debt.
What is Enhabit's gross margin?
Enhabit (EHAB) had a gross margin of 49.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Enhabit's operating margin?
Enhabit (EHAB) had an operating margin of 1.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Enhabit's net profit margin?
Enhabit (EHAB) had a net profit margin of -0.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Enhabit's return on equity (ROE)?
Enhabit (EHAB) has a return on equity of -0.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Enhabit's free cash flow?
Enhabit (EHAB) generated $65.8M in free cash flow during fiscal year 2025. This represents a 38.8% 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 Enhabit's operating cash flow?
Enhabit (EHAB) generated $70.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Enhabit's total assets?
Enhabit (EHAB) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Enhabit's capital expenditures?
Enhabit (EHAB) invested $4.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Enhabit's current ratio?
Enhabit (EHAB) had a current ratio of 1.63 as of fiscal year 2025, which is generally considered healthy.
What is Enhabit's debt-to-equity ratio?
Enhabit (EHAB) had a debt-to-equity ratio of 0.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Enhabit's return on assets (ROA)?
Enhabit (EHAB) had a return on assets of -0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Enhabit's Altman Z-Score?
Enhabit (EHAB) has an Altman Z-Score of 1.85, placing it in the Grey Zone (moderate 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 Enhabit's Piotroski F-Score?
Enhabit (EHAB) 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 Enhabit's earnings high quality?
Enhabit (EHAB) has an earnings quality ratio of -15.37x, considered mixed 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.
How financially healthy is Enhabit?
Enhabit (EHAB) scores 30 out of 100 on our Financial Health Score, indicating weak 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.