Encompass Health (EHC) financial statements
Encompass Health reported revenue of $5.9B in fiscal 2025, up 5.6% a year over 9 years.
Net income was $566M and the operating margin 17.7%, against 16.1% in 2016.
Free cash flow was $439M, and the company returned $71M in dividends and $158M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Encompass Health's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6B | $3.9B | $4.3B | $4.6B | $3.6B | $4.0B | $4.3B | $4.8B | $5.4B | $5.9B |
| Selling, general and admin | $133M | $172M | $220M | $247M | $152M | $170M | $154M | $202M | $209M | $236M |
| Operating income | $588M | $578M | $555M | $612M | $564M | $560M | $540M | $732M | $864M | $1.1B |
| Interest expense | $172M | $154M | $147M | $160M | $184M | $164M | $176M | $144M | $137M | $123M |
| Pre-tax income | $482M | $496M | $493M | $562M | $353M | $505M | $451M | $607M | $750M | $953M |
| Income tax | $164M | $146M | $119M | $116M | $75M | $102M | $100M | $132M | $150M | $193M |
| Net income | $248M | $271M | $292M | $359M | $284M | $412M | $271M | $352M | $456M | $566M |
| EPS (diluted) | $2.59 | $2.84 | $2.93 | $3.61 | $2.85 | $4.11 | $2.70 | $3.47 | $4.46 | $5.54 |
| Diluted shares | 100M | 99M | 100M | 99M | 100M | 100M | 100M | 101M | 102M | 102M |
| Operating margin | 16.1% | 14.8% | 13.0% | 13.3% | 15.8% | 13.9% | 12.4% | 15.2% | 16.1% | 17.7% |
| Net margin | 6.8% | 6.9% | 6.8% | 7.8% | 8.0% | 10.3% | 6.2% | 7.3% | 8.5% | 9.5% |
Balance sheet
Fiscal years, from Encompass Health's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $40M | $54M | $69M | $60M | $186M | $49M | $22M | $69M | $85M | $72M |
| Receivables | $444M | $472M | $468M | $506M | $573M | $516M | $537M | $612M | $599M | $619M |
| Total current assets | $654M | $702M | $662M | $756M | $949M | $921M | $717M | $842M | $887M | $906M |
| Property, plant and equipment | $1.4B | $1.5B | $1.6B | $2.0B | $2.2B | $2.6B | $2.9B | $3.3B | $3.6B | $4.1B |
| Goodwill | $1.9B | $2.0B | $2.1B | $1.2B | $1.2B | $1.2B | $1.3B | $1.3B | $1.3B | $1.3B |
| Total assets | $4.7B | $4.9B | $5.2B | $6.1B | $6.4B | $6.9B | $5.6B | $6.1B | $6.5B | $7.1B |
| Total current liabilities | $476M | $518M | $672M | $721M | $717M | $749M | $576M | $656M | $841M | $836M |
| Long-term debt | $3.0B | $2.5B | $2.5B | $3.0B | $3.3B | $3.2B | $2.7B | $2.7B | $2.4B | $2.4B |
| Total liabilities | $3.6B | $3.2B | $3.4B | $4.1B | $4.4B | $4.5B | $3.8B | $3.8B | $3.7B | $3.8B |
| Shareholders' equity | $736M | $1.2B | $1.3B | $1.4B | $1.6B | $1.9B | $1.3B | $1.6B | $2.1B | $2.4B |
| Net debt | $2.9B | $2.5B | $2.4B | $3.0B | $3.1B | $3.2B | $2.7B | $2.6B | $2.3B | $2.4B |
Cash flow
Fiscal years, from Encompass Health's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $640M | $658M | $762M | $635M | $705M | $716M | $706M | $851M | $1.0B | $1.2B |
| Capital spending | $203M | $245M | $270M | $385M | $401M | $539M | $574M | $583M | $642M | $736M |
| Free cash flow | $437M | $413M | $492M | $250M | $304M | $177M | $132M | $268M | $360M | $439M |
| Stock-based compensation | $27M | $48M | $86M | $114M | $26M | $29M | $29M | $51M | $48M | $56M |
| Dividends paid | $84M | $92M | $101M | $109M | $112M | $112M | $99M | $60M | $63M | $71M |
| Share buybacks (net) | -$66M | -$38M | $0 | -$46M | -$6M | $0 | $0 | $0 | -$31M | -$158M |
| Net borrowing | -$202M | -$130M | -$21M | -$520M | — | — | — | — | — | — |
| Free cash flow margin | 12.0% | 10.6% | 11.5% | 5.4% | 8.5% | 4.4% | 3.0% | 5.6% | 6.7% | 7.4% |
| Dividends per share | $0.84 | $0.92 | $1.01 | $1.09 | $1.12 | $1.12 | $0.99 | $0.60 | $0.61 | $0.70 |
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Open EHC in InvestinglyQuestions
What was Encompass Health's revenue in 2025?
$5.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Encompass Health generate?
$439M in fiscal 2025 (operating cash flow minus capital spending).
From Encompass Health's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.