CHECHEMED CORP
Services-Home Health Care Services
- Revenue
- $2.5B
- 65% YoY
- Operating margin
- 13.4%
- 44% YoY
- EBITDA
- $403M
- 6.2% YoY
- Market cap
- $7.0B
- Employees
- 15,811
- $160K revenue each
- Net debt / EBITDA
- -0.1×
- −$27M net debt
- AI in 10-K
- 0.9
- mentions per 10K words
Takeover score 5 of 13
Fixable underperformance 4 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$13M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo1464× net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowYes119% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes44% of assetsOver 40% of assets
- Shareholder dissentYes39% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$160K · 28th pctBottom quartile of its SIC industry
- Quiet on AINo0.9 per 10K words · 32nd pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.1× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedNo$7.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$9M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.3B | $1.2B | $1.3B | $1.5B | $2.5B | 65% |
| Operating income | $343M | $343M | $341M | $366M | $338M | 7.7% |
| Net income | $269K | $250K | $273K | $302K | $265K | 12% |
| Operating cash flow | $309M | $310M | $330M | $417M | $388M | 7.0% |
| Capex | $59M | $57M | $57M | $50M | $63M | 27% |
| Stock-based comp | $31M | $34M | $41M | $52M | $39M | 26% |
| Buybacks | $576M | $115M | $68M | $361M | $432M | 19% |
| Dividends | $22M | $22M | $24M | $27M | $32M | 17% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $9M · 13
- Net
- −$9M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $13M | $4M | 82 | 182 |
| FY2024 | $13M | $6M | 122 | 190 |
| FY2023 | $13M | $19M | 135 | 151 |
| FY2022 | $12M | $10M | 117 | 126 |
| FY2021 | $12M | $13M | 121 | 128 |