Chemed (CHE) financial statements
Chemed reported revenue of $2.5B in fiscal 2025, up 5.4% a year over 9 years.
Net income was $265M and the operating margin 13.4%, against 11.3% in 2016.
Free cash flow was $325M, and the company returned $32M in dividends and $432M in net buybacks.
The diluted share count fell 14% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Chemed's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $1.7B | $1.8B | $1.9B | $2.1B | $2.1B | $2.1B | $2.3B | $2.4B | $2.5B |
| Cost of revenue | $1.1B | $1.2B | $1.2B | $1.3B | $1.4B | $1.4B | $1.4B | $1.5B | $1.6B | $1.7B |
| Gross profit | $461M | $516M | $555M | $617M | $701M | $770M | $765M | $799M | $854M | $823M |
| Selling, general and admin | $244M | $277M | $271M | $306M | $330M | $367M | $359M | $395M | $424M | $417M |
| Operating income | $179M | $113M | $244M | $257M | $390M | $343M | $343M | $341M | $366M | $338M |
| Interest expense | $4M | $4M | $5M | $5M | $2M | $2M | $5M | $3M | $2M | $2M |
| Pre-tax income | $177M | $117M | $240M | $262M | $396M | $350M | $330M | $350M | $399M | $356M |
| Income tax | $68M | $19M | $34M | $42M | $77M | $82M | $80M | $78M | $97M | $91M |
| Net income | $109M | $98M | $206M | $220M | $319M | $269M | $250M | $273M | $302M | $265M |
| EPS (diluted) | $6.48 | $5.86 | $12.23 | $13.31 | $19.48 | $16.85 | $16.53 | $17.93 | $19.89 | $18.34 |
| Diluted shares | 17M | 17M | 17M | 17M | 16M | 16M | 15M | 15M | 15M | 14M |
| Gross margin | 29.3% | 31.0% | 31.1% | 31.8% | 33.7% | 36.0% | 35.8% | 35.3% | 35.1% | 32.5% |
| Operating margin | 11.3% | 6.8% | 13.7% | 13.3% | 18.7% | 16.0% | 16.1% | 15.0% | 15.1% | 13.4% |
| Net margin | 6.9% | 5.9% | 11.5% | 11.3% | 15.4% | 12.6% | 11.7% | 12.0% | 12.4% | 10.5% |
Balance sheet
Fiscal years, from Chemed's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $11M | $5M | $6M | $163M | $33M | $74M | $264M | $178M | $75M |
| Receivables | $132M | $114M | $120M | $144M | $127M | $137M | $139M | $182M | $171M | $183M |
| Inventory | $6M | $5M | $6M | $7M | $7M | $10M | $10M | $12M | $8M | $8M |
| Total current assets | $170M | $176M | $160M | $191M | $329M | $230M | $273M | $501M | $395M | $303M |
| Property, plant and equipment | $121M | $143M | $162M | $176M | $188M | $194M | $200M | $204M | $201M | $206M |
| Goodwill | $472M | $477M | $511M | $577M | $579M | $579M | $581M | $585M | $667M | $667M |
| Total assets | $880M | $920M | $976M | $1.3B | $1.4B | $1.3B | $1.4B | $1.7B | $1.7B | $1.5B |
| Total current liabilities | $172M | $194M | $192M | $262M | $299M | $302M | $297M | $312M | $286M | $287M |
| Long-term debt | $100M | $91M | $89M | $90M | — | $185M | $92M | — | — | — |
| Total liabilities | $356M | $380M | $384M | $542M | $534M | $719M | $643M | $560M | $550M | $559M |
| Shareholders' equity | $524M | $540M | $591M | $727M | $901M | $623M | $799M | $1.1B | $1.1B | $979M |
| Net debt | $93M | $90M | $84M | $84M | -$163M | $152M | $23M | -$264M | -$178M | -$75M |
Cash flow
Fiscal years, from Chemed's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $135M | $162M | $287M | $301M | $489M | $309M | $310M | $330M | $417M | $388M |
| Capital spending | $40M | $64M | $53M | $53M | $59M | $59M | $57M | $57M | $50M | $63M |
| Free cash flow | $96M | $98M | $234M | $248M | $430M | $250M | $253M | $273M | $368M | $325M |
| Stock-based compensation | $14M | $16M | $19M | $21M | $27M | $31M | $34M | $41M | $52M | $39M |
| Dividends paid | $16M | $17M | $19M | $20M | $21M | $22M | $22M | $24M | $27M | $32M |
| Share buybacks (net) | -$102M | -$95M | -$159M | -$93M | -$176M | -$576M | -$115M | -$68M | -$361M | -$432M |
| Free cash flow margin | 6.1% | 5.9% | 13.1% | 12.8% | 20.7% | 11.7% | 11.8% | 12.1% | 15.1% | 12.9% |
| Dividends per share | $0.98 | $1.04 | $1.11 | $1.20 | $1.29 | $1.38 | $1.46 | $1.55 | $1.78 | $2.19 |
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Open CHE in InvestinglyQuestions
What was Chemed's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Chemed generate?
$325M in fiscal 2025 (operating cash flow minus capital spending).
From Chemed's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.