ADUSAddus HomeCare Corp
Services-Home Health Care Services
- Revenue
- $1.4B
- 23% YoY
- Operating margin
- 9.7%
- 9.6% YoY
- EBITDA
- $155M
- 33% YoY
- Market cap
- $2.3B
- Employees
- —
- Net debt / EBITDA
- -0.2×
- −$35M net debt
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$4M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo116% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes69% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 59th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.2× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$2.3B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$5M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $864M | $951M | $1.1B | $1.2B | $1.4B | 23% |
| Operating income | $66M | $69M | $91M | $103M | $139M | 35% |
| Net income | $45M | $46M | $63M | $74M | $96M | 30% |
| Operating cash flow | $39M | $105M | $112M | $116M | $112M | 4.2% |
| Capex | $5M | $8M | $9M | $6M | $8M | 28% |
| Stock-based comp | $9M | $11M | $10M | $11M | $16M | 47% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $5M · 36
- Net
- −$5M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $12M | $12M | 92 | 106 |
| FY2024 | $6M | $7M | 107 | 121 |
| FY2023 | $4M | $4M | 79 | 129 |
| FY2022 | $4M | $4M | 85 | 129 |
| FY2021 | $3M | $2M | 80 | 128 |