Option Care Health (OPCH) financial statements
Option Care Health reported revenue of $5.6B in fiscal 2025, up 22.1% a year over 9 years.
Net income was $208M and the operating margin 6.0%, against -1.2% in 2016.
Free cash flow was $217M, and the company returned $310M in net buybacks.
The diluted share count rose 74% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Option Care Health's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $936M | $1.8B | $1.9B | $2.3B | $3.0B | $3.4B | $3.9B | $4.3B | $5.0B | $5.6B |
| Cost of revenue | $674M | $548M | $466M | $1.8B | $2.4B | $2.7B | $3.1B | $3.3B | $4.0B | $4.6B |
| Gross profit | $262M | $446M | $422M | $513M | $682M | $780M | $867M | $981M | $1.0B | $1.1B |
| Selling, general and admin | $39M | $338M | $346M | $460M | $500M | $526M | $566M | $607M | $630M | $682M |
| Operating income | -$11M | $27M | $38M | -$319,000 | $111M | $191M | $240M | $315M | $322M | $338M |
| Interest expense | — | — | $46M | $74M | $108M | $67M | $54M | $51M | $49M | $55M |
| Pre-tax income | -$34M | -$67M | -$51M | -$78M | -$5M | $116M | $206M | $359M | $284M | $283M |
| Income tax | $2M | -$19M | -$3M | -$2M | $3M | -$23M | $55M | $92M | $72M | $75M |
| Net income | -$43M | $4M | -$6M | -$76M | -$8M | $140M | $151M | $267M | $212M | $208M |
| EPS (diluted) | -$0.55 | $0.03 | -$0.04 | -$0.49 | -$0.04 | $0.77 | $0.83 | $1.48 | $1.23 | $1.27 |
| Diluted shares | 94M | 143M | 143M | 156M | 181M | 181M | 182M | 180M | 173M | 163M |
| Gross margin | 28.0% | 24.4% | 21.8% | 22.2% | 22.5% | 22.7% | 22.0% | 22.8% | 20.3% | 19.3% |
| Operating margin | -1.2% | 1.5% | 2.0% | -0.0% | 3.7% | 5.5% | 6.1% | 7.3% | 6.4% | 6.0% |
| Net margin | -4.6% | 0.2% | -0.3% | -3.3% | -0.3% | 4.1% | 3.8% | 6.2% | 4.2% | 3.7% |
Balance sheet
Fiscal years, from Option Care 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 | $10M | $39M | $36M | $67M | $99M | $119M | $294M | $344M | $413M | $233M |
| Receivables | $109M | $86M | $310M | $324M | $328M | $338M | $378M | $378M | $410M | $474M |
| Inventory | $36M | $38M | $83M | $116M | $159M | $183M | $224M | $274M | $388M | $471M |
| Total current assets | $173M | $187M | $467M | $559M | $657M | $710M | $994M | $1.1B | $1.3B | $1.3B |
| Property, plant and equipment | $33M | $27M | $93M | $133M | $121M | $112M | $108M | $121M | $127M | $139M |
| Goodwill | $366M | $627M | $632M | $1.4B | $1.4B | $1.5B | $1.5B | $1.5B | $1.5B | $1.6B |
| Total assets | $605M | $603M | $1.4B | $2.6B | $2.6B | $2.8B | $3.1B | $3.2B | $3.4B | $3.5B |
| Total current liabilities | $130M | $105M | $240M | $330M | $434M | $460M | $565M | $618M | $780M | $829M |
| Long-term debt | $433M | $479M | $535M | $1.3B | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B | $1.2B |
| Total liabilities | $567M | $606M | $825M | $1.7B | $1.6B | $1.6B | $1.7B | $1.8B | $2.0B | $2.1B |
| Shareholders' equity | $601M | $606M | $603M | $907M | $1.0B | $1.2B | $1.4B | $1.4B | $1.4B | $1.3B |
| Net debt | $442M | $441M | $503M | $1.2B | $1.0B | $946M | $770M | $719M | $699M | $928M |
Cash flow
Fiscal years, from Option Care Health's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$43M | $38M | $24M | $39M | $127M | $209M | $268M | $371M | $323M | $258M |
| Capital spending | — | $25M | $26M | $28M | $27M | $26M | $35M | $42M | $36M | $41M |
| Free cash flow | — | $13M | -$2M | $11M | $101M | $183M | $232M | $329M | $288M | $217M |
| Stock-based compensation | $2M | $1M | $2M | $4M | $3M | $10M | $17M | $30M | $36M | $40M |
| Share buybacks (net) | — | — | — | — | — | $0 | $0 | -$250M | -$253M | -$310M |
| Net borrowing | — | -$4M | -$4M | $979M | -$9M | $846M | -$6M | -$6M | $44M | $225M |
| Free cash flow margin | — | 0.7% | -0.1% | 0.5% | 3.3% | 5.3% | 5.9% | 7.7% | 5.8% | 3.8% |
Questions
What was Option Care Health's revenue in 2025?
$5.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Option Care Health generate?
$217M in fiscal 2025 (operating cash flow minus capital spending).
From Option Care Health's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.