At a glance
Addus HomeCare Corporation is worth $2.28B, about 23 times its fiscal 2025 earnings. Revenue grew 23.2% to $1.42B in fiscal 2025, with 6.7% kept as profit; over 5 years it has grown 13.2% a year. It pays no dividend. The stock returned +1.4% over the past year with dividends reinvested and +6.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 51.4% in the 2020 crash (S&P 500: 33.7%) and 24.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months after the low.
The business in plain English
Addus HomeCare provides care in people's homes, mostly to older, chronically ill or disabled adults who need help with daily living. Most clients are “dual eligible,” meaning they qualify for Medicare and Medicaid, government health programs for older and low-income Americans. Addus is paid mainly by government agencies and managed care organizations (health plans that run Medicaid and Medicare benefits), plus commercial insurers and private-pay families. As of December 31, 2025, it had about 262 offices in 23 states and served about 107,000 people that year.
Personal care is the core business: $1.09 billion, or 76.6% of 2025 net service revenue of $1.42 billion. This is non-medical help with bathing, dressing, feeding, meal preparation, housekeeping, medication reminders and transportation. Hospice, comfort care for people near the end of life, made up 18.5%, and home health, skilled care such as nursing at home, about 5%.
Addus grows by adding clients in existing markets and buying local providers in a fragmented industry. It bought Gentiva's personal care business in December 2024 and completed four more acquisitions in 2025, when revenue rose 23.2%. It offers all three services in Ohio, Tennessee, Illinois and New Mexico. Its pitch to health plans: home care costs less than facility care, and caregivers who spot health changes early can help prevent unnecessary hospital visits.
Price history
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ADUS +1.4% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Personal Care | $1.09B | 76.6% |
| Hospice | $262.5M | 18.5% |
| Home Health | $70.8M | 5% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $377.4M, up 8% from a year earlier, and net income was $27.6M (+25.2%).
- For fiscal 2025, revenue was $1.42B (+23.2% year over year; +13.2% a year from FY2020 to FY2025) with a 6.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +13.2% good |
|---|---|
| Operating margin | 9.7% watch |
| Free cash flow margin | 7.3% watch |
| Return on equity (FY2025) | 8.8% watch |
| Return on assets (FY2025) | 6.7% watch |
| Net cash (cash minus debt) | $38.0M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $764.8M | $33.1M | $102.6M |
| FY2021 | $864.5M | $45.1M | $34.8M |
| FY2022 | $951.1M | $46.0M | $96.8M |
| FY2023 | $1.06B | $62.5M | $102.8M |
| FY2024 | $1.15B | $73.6M | $110.4M |
| FY2025 | $1.42B | $95.9M | $103.8M |
Valuation snapshot
| Market value | $2.28B |
|---|---|
| P/E ratio | 23.4 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Addus HomeCare’s market value went from $401.8M at the end of 2016 to $2.28B on Oct 28, 2026, about 5.7 times as much; since the end of 2025 it is up 15%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.28B | +14.9% |
| 2025 | $1.98B | -12.7% |
| 2024 | $2.27B | +51.0% |
| 2023 | $1.51B | -6.1% |
| 2022 | $1.60B | +7.6% |
| 2021 | $1.49B | -19.5% |
| 2020 | $1.85B | +22.4% |
| 2019 | $1.51B | +70.1% |
| 2018 | $889.1M | +119.7% |
| 2017 | $404.8M | +0.7% |
| 2016 | $401.8M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ADUS price data to Oct 28, 2026 | +13.8% | +1.4% | +14.2% | +6.9% | +17.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +13.8% |
| 2025 | -14.3% |
| 2024 | +35.0% |
| 2023 | -6.7% |
| 2022 | +6.4% |
| 2021 | -20.1% |
| 2020 | +20.4% |
| 2019 | +43.2% |
| 2018 | +95.1% |
| 2017 | -0.7% |
| 2016 | +50.6% |
| 2015 | -4.1% |
| 2014 | +8.1% |
| 2013 | +214.1% |
| 2012 | +100.2% |
| 2011 | -12.9% |
| 2010 | -55.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 38.2% over that stretch · deepest drop along the way 51.4%, back to its old high 4.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 7.9% over that stretch · deepest drop along the way 24.8%, back to its old high 4.9 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 27 sales ($2.1M), 25 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 24, 2026 | R Dirk Allison Chairman and CEO, Director | sell (plan) | $534K |
| Feb 25, 2026 | R Dirk Allison Chairman and CEO, Director | sell (plan) | $249K |
| Feb 24, 2026 | Brian Poff EVP, Chief Financial Officer | sell (plan) | $218K |
| Feb 24, 2026 | Sean Gaffney EVP, Chief Legal Officer | sell (plan) | $87K |
| Feb 25, 2026 | Brian Poff EVP, Chief Financial Officer | sell (plan) | $86K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.6% | Mar 31, 2025 |
| Capital Research Global Investors | 8% | Dec 31, 2025 |
| WASATCH ADVISORS LP | 5.1% | Jun 30, 2025 |
| Wasatch Advisors LP | 4.9% | Dec 31, 2025 |
ETFs with the most weight in ADUS
| TXSS Texas Capital Texas Small Cap Equity Index ETF | 2.61% |
| XHS SPDR S&P Health Care Services ETF | 2.04% |
| SIXS ETC 6 Meridian Small Cap Equity ETF | 1.24% |
| BKWO BNY Mellon Women's Opportunities ETF | 1.21% |
| XSLV Invesco S&P SmallCap Low Volatility ETF | 0.7% |
| SMIZ Zacks Small/Mid Cap ETF | 0.52% |
| SQLV Royce Quant Small‑Cap Quality Value ETF | 0.47% |
| SIXL ETC 6 Meridian Low Beta Equity ETF | 0.46% |
What could go wrong
- Revenue depends on a few states, especially Illinois. Revenue is concentrated in a small number of states. Budget cuts or rule changes there, including efforts to cut costs in Illinois Department on Aging programs, could reduce revenue and profits.
- Medicare and Medicaid payment cuts. Most clients depend on Medicare and Medicaid. Lower reimbursement rates or program changes at the federal, state or local level could shrink caseloads, services delivered, revenue and profits.
- Losing a major health plan or state contract. Revenue depends on agreements with state agencies and managed care plans. Failure to renew a large contract or group of related contracts, or plans using fewer providers, could materially reduce revenue.
- Wage laws and caregiver shortages raise costs. Addus needs a large caregiver workforce. Minimum wage, living wage and paid time-off rules, labor relations issues, or trouble hiring and keeping staff could raise costs or limit how many clients it serves.
- Annual Medicare caps on hospice payments. Medicare limits how much it pays each hospice provider per year. Hospice made up 18.5% of 2025 revenue, and exceeding those caps could materially hurt results and cash flow.
- Acquisitions may disappoint or hide liabilities. Buying other providers is a key part of growth. Deals can bring hidden liabilities or lose key staff and clients, and writing down goodwill (the premium paid for acquisitions) could cut reported earnings.
Recent events
- Major agreement signed; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Addus HomeCare pays no dividend and did not buy back shares in fiscal 2021 through 2025, so holders receive no cash payouts and would need to sell shares to raise income. The company has used its cash to grow: it produced $103.8 million of free cash flow (cash left after running and investing in the business) in 2025, completed four acquisitions that year and cut credit-facility debt from $223.0 million to $124.3 million. The share count rose 17.3% between July 2021 and July 2026, diluting existing holders. In the 2020 COVID crash the stock fell 51.4% between February 19 and March 17, 2020, then recovered by August 3. In the 2022 bear market it dropped 24.8% from January 3 to February 23 and recovered by July 21; across the market's full January-to-October slide, it gained 7.9%. Its deepest fall in 17 years of price history was 70.4%. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Addus HomeCare make money?
Addus earns fees for caring for people in their homes, paid mainly by government agencies, managed care health plans, commercial insurers and private-pay clients. Personal care, non-medical help with bathing, dressing, meals and housekeeping, brought in 76.6% of its $1.42 billion revenue in 2025. Hospice contributed 18.5% and home health about 5%. Most clients are dual eligible for Medicare and Medicaid, so government programs ultimately fund much of the business. Net income was $95.9 million in 2025.
Does Addus HomeCare pay a dividend?
No. Addus HomeCare paid no dividends and made no share buybacks in fiscal 2021 through 2025. It has put its cash toward acquisitions and paying down debt instead, and its share count rose 17.3% between July 2021 and July 2026. Investors who rely on portfolio income would get none from this stock; any return comes from share price changes, and cash can be raised only by selling shares.
What is Addus HomeCare's P/E ratio?
About 23.4, as of October 28, 2026. That price-to-earnings (P/E) ratio compares the share price with 2025 diluted earnings of $5.22 per share. Market value was about $2.28 billion. Earnings per share rose from $2.08 in 2020, and revenue grew 13.2% a year over the five years through 2025. In the quarter ended June 30, 2026, revenue rose 8% and net income 25.2% from a year earlier.
How has Addus HomeCare stock performed?
Well over ten years, more modestly over shorter periods. As of October 28, 2026, the shares gained 1.4% over one year, an average of 6.9% a year over five years and 17.2% a year over ten years, a cumulative 390%. Calendar years swing widely: the stock rose 35% in 2024, fell 14.33% in 2025 and was up 13.8% for 2026 through October 28. With no dividend, price changes are the entire return.
How much debt does Addus HomeCare have?
Relatively little. As of June 30, 2026, Addus had $61.6 million of total debt against $99.6 million of cash and investments, leaving net cash of about $38.0 million. Debt on its credit facility fell from $223.0 million at the end of 2024 to $124.3 million a year later. The amount it can borrow is tied to a multiple of adjusted earnings, so weaker profits would shrink it, and loan covenants can restrict acquisitions.