Amedisys, Inc.

NasdaqGS:AMED Stock Report

Market Cap: US$3.3b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Amedisys Past Earnings Performance

Past criteria checks 0/6

Amedisys's earnings have been declining at an average annual rate of -30.6%, while the Healthcare industry saw earnings growing at 2.9% annually. Revenues have been growing at an average rate of 2.8% per year. Amedisys's return on equity is 6.4%, and it has net margins of 3.6%.

Key information

-30.62%

Earnings growth rate

-30.72%

EPS growth rate

Healthcare Industry Growth8.50%
Revenue growth rate2.82%
Return on equity6.42%
Net Margin3.56%
Last Earnings Update30 Jun 2025

Recent past performance updates

Recent updates

Analysis Article • Aug 14

Why Amedisys, Inc. (NASDAQ:AMED) Could Be Worth Watching

While Amedisys, Inc. ( NASDAQ:AMED ) might not have the largest market cap around , it maintained its current share...
Seeking Alpha • Aug 04

Amedisys: Thoughts On UnitedHealth Merger, Plus Underlying Factors

Summary AMED's planned merger with UnitedHealth remains on the rocks, with regulatory overhang still an issue. The deal is also asymmetrically weighted in UNH's favor, with the latter up for no penalty if it fails. Not so for AMED. Aside from this, there are internal factors dragging on AMED's business performance. Read the full article on Seeking Alpha
Analysis Article • Jun 11

There's Reason For Concern Over Amedisys, Inc.'s (NASDAQ:AMED) Price

There wouldn't be many who think Amedisys, Inc.'s ( NASDAQ:AMED ) price-to-sales (or "P/S") ratio of 1.3x is worth a...
Seeking Alpha • Nov 05

Final Push For Amedisys As UnitedHealth Awaits Regulatory Clearance

Summary Amedisys, Inc. is being acquired by UnitedHealth for $3.3 billion, pending DOJ approval, with the stock currently trading below the offer price. The DOJ is scrutinizing the merger due to concerns about potential price hikes and reduced competition in home healthcare. Oregon Health Authority is also reviewing the deal, with mixed reactions from local groups about its impact on healthcare quality and affordability. If the merger fails, Amedisys stock could drop to $74, but a $144 million break-up fee from UnitedHealth offers some downside protection. Read the full article on Seeking Alpha
Analysis Article • Apr 10

Is Amedisys, Inc. (NASDAQ:AMED) Trading At A 41% Discount?

Key Insights Amedisys' estimated fair value is US$130 based on 2 Stage Free Cash Flow to Equity Amedisys' US$76.89...
Analysis Article • Feb 25

Does Amedisys (NASDAQ:AMED) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Feb 10

Amedisys (NASDAQ:AMED) Will Be Hoping To Turn Its Returns On Capital Around

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Jan 03

At US$83.54, Is It Time To Put Amedisys, Inc. (NASDAQ:AMED) On Your Watch List?

Amedisys, Inc. ( NASDAQ:AMED ), might not be a large cap stock, but it saw significant share price movement during...
Analysis Article • Dec 16

A Look At The Fair Value Of Amedisys, Inc. (NASDAQ:AMED)

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Amedisys, Inc...
Analysis Article • Nov 12

Capital Allocation Trends At Amedisys (NASDAQ:AMED) Aren't Ideal

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
Analysis Article • Sep 19

Is Now The Time To Look At Buying Amedisys, Inc. (NASDAQ:AMED)?

Amedisys, Inc. ( NASDAQ:AMED ), might not be a large cap stock, but it saw a decent share price growth in the teens...
Analysis Article • Sep 04

An Intrinsic Calculation For Amedisys, Inc. (NASDAQ:AMED) Suggests It's 38% Undervalued

Today we will run through one way of estimating the intrinsic value of Amedisys, Inc. ( NASDAQ:AMED ) by taking the...
Seeking Alpha • Aug 24

Amedisys: ROIC, Tangible Book Value Each Softening

Summary Amedysis came in with a flat set of earnings last quarter, with downsides relative to consensus at the top and bottom line. Balance sheet metrics are weakening and the company now claims a large portion of equity value via intangibles and goodwill. We note additional pressures from return on investment that's been observed over several periods now. Valuations are also unsupportive, and we rate AMED neutral. Investment Summary Risk assets have caught a bid since July and are now rallying to retrace losses incurred in early 2022. Within healthcare, there are numerous pockets of quality screaming out for capital allocation. Most notably, characteristics of free cash flow ("FCF"), tangible book value, and earnings quality are paramount. Exhibit 1. AMED YTD price performance Data: Updata In that vein, we note that Amedysis, Inc. (AMED) displays a loose affinity to the equity premia we are seeking exposure to in H2 FY22. On closer inspection, the balance sheet is skewed towards intangible sources of value that are susceptible to mark downs and don't provide certainty on the predictability of future cash flows. Valuations are also unsupportive. With these factors in mind, we rate AMED neutral. Q2 earnings flat, insights for FY22 result Q2 revenue came in with a 100bps decline to $558 million, below consensus estimates and behind guidance. Home Health turnover came in at ~$350 million, with a ~400bps impact from Q2 acquisitions. More on this a bit later. Structurally, the home health business now books 20% of revenue from a per-visit basis. This equates to ~200K/month of ~600K/quarter. However, management says it is moving towards a blend where more revenue upside is recognized on a per-case basis (instead of per visit). This has potential to unlock scale in the segment because it frees up more clinical capacity for greater patient uptake. Meanwhile, the hospice segment printed $198 million for the quarter, backed by a 400bps YoY increase in net revenue per day, offset by a $2.88 cost per day. The company also realized a 200bps pass-through in hospice rate increase that's been in effect since 1 October FY21'. Moving down the P&L, the company saw ~125bps of headwind at the SG&A line thanks to acquisition costs tied to Contessa and Home Health. Non-GAAP EBITDA was up 150bps YoY to $182 million ($5.60/share), whereas it printed GAAP EBITDA of $42 million ($1.31/share). In addition, AMED recognized ~200bps upside in revenue per episode, helped in part by a similar increase in reimbursement. There was also a 6% increase in visiting cost per visit, underpinned by higher cost inflation, labour shortages and increase salaried employments. As seen in Exhibit 2, quarterly operating performance has begun to slow markedly for the company since FY19. Despite a small spike in sales and gross profit in FY20, this growth has stagnated and even receded back in range. Despite this, the company remains FCF positive and exhibits a sense of resiliency in its earnings profile. It printed $55 million in FCF last quarter, a YoY gain of 5.7% from $52.3 million. Although, total debt also increased by 146% YoY and ~3% sequentially to $442 million. The company also spent $17 million during the year on stock buybacks, with another $83 million under authorization. Exhibit 2. Data: HB Insights Estimates; AMED SEC Filings Further evidence of this separation in top-to-bottom line fundamentals is seen in the chart below. As seen, FCF margin (as a function of turnover) and gross profit margin have begun to bifurcate since mid-2020. Operating margin has followed suit since Q3 FY21'. As seen below, the trends have continued to widen and we estimate this to be a potential risk to earnings growth looking ahead. We also advocate for investors to pay close attention to movement in AMED's operating and FCF margins as a measure of earnings performance. Exhibit 3. Data: HB Insights, AMED SEC Filings Additional balance sheet forensics reveal that tangible equity value has narrowed on a quarterly basis since FY18. As seen in Exhibit 4, the company's asset structure has shifted towards an intangibles/goodwill bias, with approximately 70% of the company's asset base now comprised of non-tangible sources of value. This has direct implications on valuation, and, also, as a measure of management's effectiveness in its acquisition strategy. The company continues to build the breadth of its portfolio companies, however, questions arise on the fair value of these purchases considering the total in goodwill that's tied to each. Exhibit 4. Image: HB Insights, AMED SEC Filings As seen in Exhibit 5, taken from AMED's Q2 FY22 10-Q earnings report, goodwill and intangibles make up more than 130% of the company's book value of equity. That means that tangible assets make up just 0.89% of book value. Moreover, patient accounts receivable comprises over 77% of the company's current assets. Exhibit 5. Data: AMED 10-Q, July FY2022 With an arguable lack of tangible value on offer, return on invested capital has narrowed in substantially as well. As seen below, we examined how much NOPAT was derived from the previous period's invested capital. After some growth throughout the pandemic, both NOPAT and ROIC have receded and are now trending south. Exhibit 6. Data: HB Insights, AMED SEC Filings Valuation Shares are trading at a discount to peers across key multiples used in this assessment. As noted, the company trades at ~4x book value, however, a large portion of its book value is made of intangibles and goodwill. AMED actually has a tangible book value of negative $410 million, and therefore struggles to justify this discount. Moreover, the stock is priced at 17.6x forward P/E, below the GICS industry peer median's 21.4x, suggesting the market is pricing a below-sector result from the company. Exhibit 7. Multiples and comps Data: HB Insights At 17.6x our FY23 estimates of $5.80, we price the stock at $102, suggesting there to be a lack of upside capture available on terms of valuation.
Analysis Article • Aug 04

Slowing Rates Of Return At Amedisys (NASDAQ:AMED) Leave Little Room For Excitement

What trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...
Seeking Alpha • Jul 27

Amedisys profit beats by $0.24, revenue misses by $25.23M, 2022 guidance below estimates

Amedisys  press release (NASDAQ:AMED): Q2 Non-GAAP EPS of $1.47 beats by $0.24. Revenue of $557.89M (-1.1% Y/Y) misses by $25.23M. Updated 2022 Guidance Adjusted net service revenue is anticipated to be in the range of $2.290 billion to $2.310 billion vs $2.35B consensus. Adjusted diluted earnings per share is anticipated to be in the range of $5.23 to $5.45 based on an estimated 32.8 million shares outstanding. Consensus estimate $5.31.
Analysis Article • Jul 20

We Think Amedisys (NASDAQ:AMED) Can Stay On Top Of Its Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jun 04

At US$115, Is It Time To Put Amedisys, Inc. (NASDAQ:AMED) On Your Watch List?

Amedisys, Inc. ( NASDAQ:AMED ), is not the largest company out there, but it saw significant share price movement...
Analysis Article • May 05

Returns On Capital At Amedisys (NASDAQ:AMED) Have Stalled

There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'd want to identify a...
Analysis Article • Apr 20

Is Amedisys, Inc. (NASDAQ:AMED) Trading At A 40% Discount?

Does the April share price for Amedisys, Inc. ( NASDAQ:AMED ) reflect what it's really worth? Today, we will estimate...
Analysis Article • Apr 06

Does Amedisys (NASDAQ:AMED) Deserve A Spot On Your Watchlist?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
Analysis Article • Feb 20

Is Amedisys (NASDAQ:AMED) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jan 19

Amedisys (NASDAQ:AMED) Shareholders Will Want The ROCE Trajectory To Continue

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a...
Analysis Article • Dec 03

Should You Be Adding Amedisys (NASDAQ:AMED) To Your Watchlist Today?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Nov 18

These 4 Measures Indicate That Amedisys (NASDAQ:AMED) Is Using Debt Safely

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Aug 18

Amedisys (NASDAQ:AMED) Could Easily Take On More Debt

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Jul 23

Calculating The Fair Value Of Amedisys, Inc. (NASDAQ:AMED)

Today we will run through one way of estimating the intrinsic value of Amedisys, Inc. ( NASDAQ:AMED ) by projecting its...
Seeking Alpha • Jul 18

Amedisys: Strategic Contessa Acquisition Underpins The Home Healthcare Growth Opportunity

Amedisys announces the acquisition of Contessa Health, a leader in hospital-at-home services. Despite the near-term margin drag, the added growth potential and strategic benefits should drive upside to the longer-term earnings trajectory. Shares continue to trade reasonably relative to the growth outlook.

Revenue & Expenses Breakdown

How Amedisys makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:AMED Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Jun 252,402867930
31 Mar 252,372907930
31 Dec 242,348437900
30 Sep 242,321837870
30 Jun 242,290927820
31 Mar 242,251-217800
31 Dec 232,236-107800
30 Sep 232,22837740
30 Jun 232,22927690
31 Mar 232,2341127630
31 Dec 222,2231197540
30 Sep 222,2201217450
30 Jun 222,2161407360
31 Mar 222,2221917230
31 Dec 212,2142097110
30 Sep 212,2062201,0330
30 Jun 212,1962479110
31 Mar 212,1172027850
31 Dec 202,0721846680
30 Sep 202,0211662160
30 Jun 201,9721282140
31 Mar 201,9801272190
31 Dec 191,9561276080
30 Sep 191,8891272070
30 Jun 191,8121241970
31 Mar 191,7311231890
31 Dec 181,6631191850
30 Sep 181,626881810
30 Jun 181,583711780
31 Mar 181,546421780
31 Dec 171,511301770
30 Sep 171,474431810
30 Jun 171,456401870
31 Mar 171,438461900
31 Dec 161,419371960
30 Sep 161,391411980
30 Jun 161,358381930
31 Mar 161,313381880
31 Dec 151,266-31730
30 Sep 151,230-71580
30 Jun 151,204-71490
31 Mar 151,193-101420
31 Dec 141,188131470
30 Sep 141,191-41530

Quality Earnings: AMED has a large one-off loss of $78.3M impacting its last 12 months of financial results to 30th June, 2025.

Growing Profit Margin: AMED's current net profit margins (3.6%) are lower than last year (4%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: AMED's earnings have declined by 30.6% per year over the past 5 years.

Accelerating Growth: AMED's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AMED had negative earnings growth (-6.9%) over the past year, making it difficult to compare to the Healthcare industry average (11.7%).

Return on Equity

High ROE: AMED's Return on Equity (6.4%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/08/14 00:18
End of Day Share Price 2025/08/14 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Amedisys, Inc. is covered by 15 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew GillmorBaird
Steven ValiquetteBarclays
Sarah JamesBarclays