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Arphra AIPlain-English read on Encompass Health Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $4.01B | $4.35B | $4.8B | $5.37B | $5.94B | $6.42B | $6.94B | $7.5B | $8.22B |
| Cost of revenue | $2.31B | $2.6B | $2.82B | $3.14B | $254.4M | $2.65B | $2.89B | $3.1B | $3.26B |
| Gross profit | $1.7B | $1.75B | $1.98B | $2.23B | $5.68B | $3.72B | $4.09B | $4.46B | $4.78B |
| Gross margin | +42.43% | +40.32% | +41.30% | +41.56% | +95.71% | +57.97% | +58.95% | +59.49% | +58.16% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $228.5M | $209M | $258M | $266.5M | $3.41B | $1.44B | $1.57B | $1.73B | $1.84B |
| Total operating expenses | $1.04B | $1.12B | $258M | $1.37B | $4.63B | $2.28B | $2.46B | $2.76B | $3.01B |
| Operating income | $659.4M | $630.2M | $1.72B | $864.5M | $1.05B | $1.53B | $1.6B | $1.74B | $1.96B |
| Operating margin | +16.42% | +14.49% | +35.92% | +16.09% | +17.74% | +23.78% | +23.05% | +23.17% | +23.84% |
| EBITDA | $888.9M | $870.1M | $1.01B | $1.19B | $1.4B | $1.53B | $1.61B | $1.78B | $1.92B |
| EBIT | $669.3M | $626.5M | $731.8M | $887M | $1.08B | $1.07B | $1.19B | $1.27B | $1.34B |
| Below the line | |||||||||
| Interest expense | $164.3M | $175.7M | $143.5M | $137.4M | $123.2M | $158.93M | $176.88M | $189.17M | $203.5M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$154.4M | -$179.4M | -$1.12B | -$114.9M | -$100.1M | — | — | — | — |
| Pre-tax income | $505M | $450.8M | $607.2M | $749.6M | $953M | $918.07M | $1.01B | $1.06B | $1.16B |
| Income tax expense | $101.9M | $100.1M | $132.2M | $150.2M | $192.9M | $183.25M | $205.06M | $227.11M | $244.23M |
| Earnings | |||||||||
| Net income | $412.2M | $271M | $352M | $455.7M | $566.2M | $529.27M | $599.98M | $651.33M | $679.38M |
| Net income · continuing ops | $403.1M | $350.7M | $475M | $599.4M | $760.1M | $744.55M | $790.76M | $831.02M | $915.57M |
| Net margin | +10.27% | +6.23% | +7.33% | +8.48% | +9.54% | +8.24% | +8.64% | +8.68% | +8.26% |
| EPS · basic | $4.15 | $2.72 | $3.54 | $4.53 | $5.62 | $6.08 | $6.59 | $7.36 | $8.60 |
| EPS · diluted | $4.11 | $2.70 | $3.47 | $4.46 | $5.54 | $6.01 | $6.54 | $7.28 | $8.37 |
| EPS · low estimate | — | — | — | — | — | $5.79 | $6.22 | $7.23 | $8.33 |
| EPS · high estimate | — | — | — | — | — | $6.11 | $6.68 | $7.34 | $8.41 |
| Shares · basic | 99M | 99.2M | 99.5M | 99.9M | 100.5M | 101.4M | 99.93M | 99.7M | 100.95M |
| Shares · diluted | 100.2M | 100.4M | 101.3M | 102.2M | 102.2M | 102.43M | 102.53M | 102.52M | 101.29M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 10 | 10 | 5 | 2 |
| Analysts (EPS) | — | — | — | — | — | 9 | 9 | 2 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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