BrightSpring Health Services (BTSG) financial statements
BrightSpring Health Services reported revenue of $12.9B in fiscal 2025, up 18.7% a year over 3 years.
Net income was $191M and the operating margin 2.3%, against 2.4% in 2022.
Free cash flow was $395M, and the company returned $43M in net buybacks.
The diluted share count rose 87% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from BrightSpring Health Services's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $7.7B | $7.7B | $10.1B | $12.9B |
| Gross profit | $1.4B | $1.1B | $1.3B | $1.5B |
| Selling, general and admin | $1.1B | $1.1B | $1.2B | $1.2B |
| Operating income | $188M | $58M | $108M | $295M |
| Interest expense | $234M | $272M | $191M | $157M |
| Pre-tax income | -$46M | -$214M | -$95M | $138M |
| Income tax | $33M | -$32M | -$26M | $33M |
| Net income | -$54M | -$155M | -$18M | $191M |
| EPS (diluted) | -$0.46 | -$1.31 | -$0.09 | $0.87 |
| Diluted shares | 118M | 118M | 193M | 220M |
| Gross margin | 17.5% | 14.8% | 12.6% | 11.8% |
| Operating margin | 2.4% | 0.8% | 1.1% | 2.3% |
| Net margin | -0.7% | -2.0% | -0.2% | 1.5% |
Balance sheet
Fiscal years, from BrightSpring Health Services's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | — | $13M | $61M | $88M |
| Receivables | — | $882M | $903M | $990M |
| Inventory | — | $403M | $637M | $815M |
| Total current assets | — | $1.5B | $1.9B | $2.9B |
| Property, plant and equipment | — | $246M | $181M | $205M |
| Goodwill | $2.6B | $2.3B | $2.4B | $2.5B |
| Total assets | — | $5.5B | $5.9B | $6.4B |
| Total current liabilities | — | $1.2B | $1.4B | $1.8B |
| Long-term debt | — | $3.3B | $2.6B | $2.5B |
| Total liabilities | — | $4.9B | $4.3B | $4.5B |
| Shareholders' equity | $755M | $585M | $1.6B | $1.9B |
| Net debt | — | $3.4B | $2.5B | $2.4B |
Cash flow
Fiscal years, from BrightSpring Health Services's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | -$5M | $211M | $24M | $490M |
| Capital spending | $70M | $74M | $81M | $95M |
| Free cash flow | -$75M | $137M | -$57M | $395M |
| Stock-based compensation | $4M | $4M | $69M | $70M |
| Share buybacks (net) | — | -$650,000 | -$650,000 | -$43M |
| Net borrowing | -$41M | -$30M | -$830M | -$50M |
| Free cash flow margin | -1.0% | 1.8% | -0.6% | 3.1% |
Questions
What was BrightSpring Health Services's revenue in 2025?
$12.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does BrightSpring Health Services generate?
$395M in fiscal 2025 (operating cash flow minus capital spending).
From BrightSpring Health Services's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.