Accendra Health (ACH)
NYSE:ACH
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Accendra Health
(NYSE:ACH)
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Rating:50Neutral
Price Target:
$3.50
▲(36.19% Upside)
Action:Reiterated
Date:06/16/26
The score is held down primarily by weak financial performance (sharp TTM revenue contraction, large losses, negative equity, and negative recent free cash flow). This is partially offset by improving technical trend signals (price above key moving averages) and a constructive earnings update highlighting affirmed outlook, solid liquidity, and debt-maturity extension plans, though higher interest expense and near-term cash flow pressure remain meaningful risks.
Positive Factors
Margin Transformation
Shifting to ~50% gross margins and double‑digit EBITDA as a stand‑alone home‑based care business materially improves structural profitability. Sustained higher gross margins provide durable operating leverage, better resilience to cost pressure and a clearer path to consistent cash generation if execution holds.
Negative Factors
Revenue and Profitability Deterioration
A ~42% TTM revenue decline and outsized net losses erode scale and fixed‑cost absorption, weakening long‑term margin sustainability. Losses of this magnitude impair reinvestment capacity, damage competitive positioning, and mean recovery depends on regaining volume across core categories rather than short‑term fixes.
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Positive Factors
Negative Factors
Margin Transformation
Shifting to ~50% gross margins and double‑digit EBITDA as a stand‑alone home‑based care business materially improves structural profitability. Sustained higher gross margins provide durable operating leverage, better resilience to cost pressure and a clearer path to consistent cash generation if execution holds.
Read all positive factors
Accendra Health (ACH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$245.07M
Dividend YieldN/A
Average Volume (3M)1.12M
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth-74.67%
EPS Growth-196.48%
CountryUS
Employees23,200
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)-14.05
Shares Outstanding76,583,700
10 Day Avg. Volume949,424
30 Day Avg. Volume1,122,390
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.47
Price to Sales (P/S)0.08
P/FCF Ratio-0.71
Enterprise Value/Market Cap8.47
Enterprise Value/Revenue0.76
Enterprise Value/Gross Profit1.66
Enterprise Value/Ebitda8.80
Forecast
1Y Price Target
$4.44Price Target Upside72.67% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.7
Revenue Forecast (FY)$2.59B
Accendra Health Business Overview & Revenue Model
Company Description
Accendra Health, Inc., along with its subsidiaries, operates globally as a comprehensive provider of healthcare solutions. The organization is structured into two primary operational divisions: Products & Healthcare Services and Patient Direct. Th...
Accendra Health Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call presented a mix of strong strategic and financial progress — notably the successful separation, margin transformation, balance sheet optimization commitments, $82M equipment sale and $52M one‑time gain, and operational wins in sleep therapy — while also acknowledging meaningful near‑term pressures: a 6.8% revenue decline, collection and cost headwinds, slightly negative free cash flow in Q1, and an expected ~ $40M annualized increase in cash interest post‑refinancing. Management emphasized that underlying revenue (ex‑large payor) was roughly +1% and that debt reduction and cost‑savings remain priorities, framing the near‑term drawbacks as manageable steps in service of a stronger long‑term standalone profile.Positive Updates
Successful Separation and Stand‑Alone Positioning
Transition services and separation from Owens & Minor are on track; Accendra is now operating as a pure‑play home‑based care company focused on growth and higher margins.
Negative Updates
Quarterly Revenue Decline
Reported revenue decline of 6.8% in Q1; while exclusion of the large payor yields ~+1% growth, headline revenue contraction is a near‑term concern.
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Q1-2026 Updates
Positive
Negative
Successful Separation and Stand‑Alone Positioning
Transition services and separation from Owens & Minor are on track; Accendra is now operating as a pure‑play home‑based care company focused on growth and higher margins.
Read all positive updates
Company Guidance
The company affirmed its 2026 outlook for revenue and adjusted EBITDA and said it expects revenue to ramp through the year with at least 65% of adjusted EBITDA earned in Q3–Q4; Q1 results included a 6.8% revenue decline (which would be ~+1% ex the exited large commercial payor) and $58 million of adjusted EBITDA, with free cash flow slightly negative. Management closed an $82 million cash sale of patient equipment (producing a $52 million book gain excluded from adjusted EBITDA), reported $337 million of cash, $195 million of available revolver capacity, and net debt essentially flat at $1.77 billion after $19 million of IRS and $22 million of P&HS divestiture payments in the quarter. The announced balance‑sheet optimization will pay off 2027 maturities, offer exchanges that could de‑leverage by up to ~$115 million, issue new first‑ and second‑lien notes maturing in 2032/2033, provide a new $300 million committed revolver due 2030, and double the weighted‑average life of the debt to ~5.5 years. The financing is expected to launch in the coming week with closing targeted for mid–late June; the company cautioned annualized cash interest will be ~ $40 million higher (with about half of that hitting in H2 2026) even as it pursues continued cost savings, better collections and rapid de‑leveraging.Accendra Health Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.72B | 2.76B | 10.70B | 10.33B | 9.96B | 9.79B |
| Gross Profit | 1.25B | 1.29B | 2.22B | 2.13B | 1.83B | 1.51B |
| EBITDA | 235.88M | 219.75M | 51.22M | 390.57M | 368.45M | 415.46M |
| Net Income | -1.08B | -1.10B | -362.69M | -41.30M | 22.39M | 221.59M |
Balance Sheet | ||||||
| Total Assets | 2.42B | 2.45B | 4.66B | 5.09B | 5.39B | 3.54B |
| Cash, Cash Equivalents and Short-Term Investments | 336.88M | 281.99M | 49.38M | 243.04M | 69.47M | 55.71M |
| Total Debt | 2.17B | 2.23B | 2.14B | 2.41B | 2.79B | 1.15B |
| Total Liabilities | 2.88B | 2.91B | 4.09B | 4.17B | 4.44B | 2.60B |
| Stockholders Equity | -464.76M | -460.98M | 565.23M | 924.17M | 945.60M | 938.50M |
Cash Flow | ||||||
| Free Cash Flow | -198.01M | -303.12M | -66.67M | 532.82M | 158.42M | 74.49M |
| Operating Cash Flow | -116.80M | -101.79M | 161.50M | 740.71M | 325.01M | 124.18M |
| Investing Cash Flow | 246.55M | 144.42M | -116.53M | -137.25M | -1.80B | -53.63M |
| Financing Cash Flow | 146.38M | 188.08M | -267.60M | -417.33M | 1.50B | -129.48M |
Accendra Health Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
Accendra Health Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Accendra Health Completes Major Debt Exchange and Refinancing
Positive
Jun 15, 2026
On June 10, 2026, Accendra Health reported early results of its exchange offers and related consent solicitations covering all of its 4.500% senior notes due 2029 and 6.625% senior notes due 2030, securing tenders from more than 99% of each series...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.