OPCH

MKT CAP:$4B

Option Care Health, Inc.

Market Cap

$4B

Healthcare·Medical - Care Facilities·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$28.40-$3.84 (-11.91%)

Apr 24, 2026

Company Details

Option Care Health, Inc. offers home and alternate site infusion services in the United States. The company provides anti-infective therapies; home infusion services to treat heart failures; home parenteral nutrition and enteral nutrition s...

CEO

John C. Rademacher

IPO Date

Aug 15, 1996

Website

www.optioncarehealth.com

Key Metrics TTM

Revenue

$5.6B

+13.0% YoY

Net Income

$208M

EPS (Diluted)

$1.28

Free Cash Flow

$240M

Revenue / Share

$35.73

Gross Margin

19.3%

Operating Margin

6.0%

Net Margin

3.7%

FCF Margin

4.2%

P/S

0.8x

P/E

21.4x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 24, 2026

$5.6B+13.0%EPS $1.28

Q4 2025

Feb 24, 2026

$1.5B+8.8%EPS $0.37

Q3 2025

Oct 30, 2025

$1.4B+12.2%EPS $0.32

Q2 2025

Jul 30, 2025

$1.4B+15.4%EPS $0.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$916M	$201M	$52M
Q2 22	$981M	$217M	$59M
Q3 22	$1.0B	$218M	$61M
Q4 22	$1.0B	$231M	$68M
Q1 23	$1.0B	$229M	$67M
Q2 23	$1.1B	$251M	$82M
Q3 23	$1.1B	$254M	$81M
Q4 23	$1.1B	$247M	$85M
Q1 24	$1.1B	$239M	$69M
Q2 24	$1.2B	$249M	$81M
Q3 24	$1.3B	$257M	$85M
Q4 24	$1.3B	$268M	$87M
Q1 25	$1.3B	$263M	$79M
Q2 25	$1.4B	$269M	$83M
Q3 25	$1.4B	$273M	$85M
Q4 25	$1.5B	$283M	$92M

Valuation

Quarter	P/S	P/E
Q1 22	1.2x	25.6x
Q2 22	1.2x	25.3x
Q3 22	1.2x	24.8x
Q4 22	1.1x	29.4x
Q1 23	1.1x	27.8x
Q2 23	1.1x	18.5x
Q3 23	1.1x	17.2x
Q4 23	1.0x	16.6x
Q1 24	1.0x	16.3x
Q2 24	1.0x	21.0x
Q3 24	0.9x	21.2x
Q4 24	0.9x	20.9x
Q1 25	0.9x	20.7x
Q2 25	0.8x	21.0x
Q3 25	0.8x	21.2x
Q4 25	0.8x	21.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$33M	$27M
Q2 22	$104M	$100M
Q3 22	$87M	$80M
Q4 22	$43M	$25M
Q1 23	$90M	$84M
Q2 23	$170M	$162M
Q3 23	$61M	$53M
Q4 23	$51M	$31M
Q1 24	-$69M	-$75M
Q2 24	$196M	$186M
Q3 24	$160M	$151M
Q4 24	$36M	$26M
Q1 25	-$7M	-$17M
Q2 25	$90M	$81M
Q3 25	$139M	$158M
Q4 25	$36M	$17M

Capital Expenditures

Quarter	CapEx
Q1 22	$5M
Q2 22	$5M
Q3 22	$7M
Q4 22	$18M
Q1 23	$6M
Q2 23	$8M
Q3 23	$8M
Q4 23	$20M
Q1 24	$6M
Q2 24	$10M
Q3 24	$10M
Q4 24	$10M
Q1 25	$9M
Q2 25	$9M
Q3 25	$18M
Q4 25	$18M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+20.6%	+18.3%
Q2 22	+14.0%	+13.5%
Q3 22	+14.5%	+14.4%
Q4 22	+10.8%	+10.7%
Q1 23	+10.9%	+9.9%
Q2 23	+9.0%	+7.0%
Q3 23	+7.1%	+5.4%
Q4 23	+9.5%	+8.4%
Q1 24	+12.8%	+13.5%
Q2 24	+14.8%	+16.2%
Q3 24	+17.0%	+17.9%
Q4 24	+19.7%	+21.1%
Q1 25	+16.3%	+16.4%
Q2 25	+15.4%	+16.3%
Q3 25	+12.2%	+13.2%
Q4 25	+8.8%	+9.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	0.5%
Q2 22	$4M	0.4%
Q3 22	$4M	0.4%
Q4 22	$4M	0.4%
Q1 23	$6M	0.6%
Q2 23	$8M	0.7%
Q3 23	$9M	0.8%
Q4 23	$8M	0.7%
Q1 24	$10M	0.8%
Q2 24	$8M	0.6%
Q3 24	$10M	0.8%
Q4 24	$9M	0.6%
Q1 25	$9M	0.7%
Q2 25	-$71.0K	-0.0%
Q3 25	-$392.0K	-0.0%
Q4 25	$21M	1.4%

OpEx Breakdown

Quarter	SG&A
Q1 22	$134M
Q2 22	$142M
Q3 22	$142M
Q4 22	$148M
Q1 23	$148M
Q2 23	$154M
Q3 23	$158M
Q4 23	$148M
Q1 24	$155M
Q2 24	$154M
Q3 24	$157M
Q4 24	$165M
Q1 25	$168M
Q2 25	$170M
Q3 25	$172M
Q4 25	$172M

Revenue Segments

Quarter	Reportable Segment
Q1 25	$1.3B
Q2 25	$1.4B
Q3 25	$1.4B
Q4 25	$1.5B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$146M	$0	$146M
Q2 22	$204M	$0	$204M
Q3 22	$255M	$0	$255M
Q4 22	$294M	$0	$294M
Q1 23	$298M	$0	$298M
Q2 23	$441M	$0	$441M
Q3 23	$386M	$0	$386M
Q4 23	$344M	$0	$344M
Q1 24	$220M	$0	$220M
Q2 24	$377M	$0	$377M
Q3 24	$483M	$0	$483M
Q4 24	$413M	$0	$413M
Q1 25	$171M	$0	$171M
Q2 25	$199M	$0	$199M
Q3 25	$310M	$0	$310M
Q4 25	$233M	$0	$233M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	182M	-1.3%	+1.0%
Q2 22	182M	-0.0%	+0.3%
Q3 22	183M	+0.8%	+0.9%
Q4 22	183M	+0.0%	-0.5%
Q1 23	183M	-0.2%	+0.6%
Q2 23	181M	-0.8%	-0.2%
Q3 23	181M	-0.4%	-1.4%
Q4 23	178M	-1.5%	-2.9%
Q1 24	176M	-1.2%	-3.9%
Q2 24	174M	-0.9%	-3.9%
Q3 24	172M	-1.2%	-4.8%
Q4 24	170M	-1.1%	-4.4%
Q1 25	167M	-1.9%	-5.0%
Q2 25	165M	-0.8%	-5.0%
Q3 25	165M	-0.5%	-4.3%
Q4 25	158M	-3.9%	-7.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$168.7K	5K
Q2 22	$180.6K	5K
Q3 22	$188.0K	5K
Q4 22	$331.4K	3K
Q1 23	$327.7K	3K
Q2 23	$344.9K	3K
Q3 23	$352.6K	3K
Q4 23	$401.6K	3K
Q1 24	$409.3K	3K
Q2 24	$438.3K	3K
Q3 24	$456.6K	3K
Q4 24	$223.8K	6K
Q1 25	$221.6K	6K
Q2 25	$235.4K	6K
Q3 25	$238.6K	6K
Q4 25	$224.5K	7K

Revenue / Employee