InfuSystem Holdings, Inc. (INFU)
XASE:INFU
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InfuSystem Holdings
(NYSE MKT:INFU)
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Rating:76Outperform
Price Target:
$11.00
▲(14.58% Upside)
Action:ReiteratedDate:03/17/26
Score driven primarily by improving financials (strong recent profitability and free cash flow plus significant de-leveraging) and a supportive earnings outlook with margin/cash-flow catalysts from cost savings. Technicals are constructive but show elevated momentum, while valuation (P/E ~28 and no dividend) limits upside in the score.
Positive Factors
Strong cash generation
Sustained high operating and free cash flow provides durable internal funding for capex, ERP and revenue-cycle investments, and share repurchases. Reliable cash conversion enhances financial flexibility to absorb reimbursement volatility and supports reinvestment in product and service expansion over the medium term.
Negative Factors
Contract revenue reduction
The GE Healthcare contract restructuring removes a meaningful recurring revenue stream and lowers the company's revenue baseline. Even if cost savings exceed the loss, reduced scale can compress operating leverage and makes achieving medium-term revenue and margin targets more dependent on execution and new product adoption.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained high operating and free cash flow provides durable internal funding for capex, ERP and revenue-cycle investments, and share repurchases. Reliable cash conversion enhances financial flexibility to absorb reimbursement volatility and supports reinvestment in product and service expansion over the medium term.
Read all positive factors
InfuSystem Holdings (INFU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$195.88M
Dividend YieldN/A
Average Volume (3M)127.63K
Price to Earnings (P/E)28.0
Beta (1Y)1.75
Revenue Growth6.23%
EPS Growth283.88%
CountryUS
Employees502
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.10
Shares Outstanding20,215,158
10 Day Avg. Volume113,368
30 Day Avg. Volume127,630
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)3.23
Price to Sales (P/S)1.29
P/FCF Ratio7.77
Enterprise Value/Market Cap1.01
Enterprise Value/Revenue1.38
Enterprise Value/Gross Profit2.46
Enterprise Value/Ebitda7.78
Forecast
1Y Price Target
$16.25Price Target Upside69.27% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.41
Revenue Forecast (FY)$148.06M
InfuSystem Holdings Business Overview & Revenue Model
Company Description
InfuSystem Holdings, Inc., through its subsidiaries, provides infusion pumps, and related products and services in the United States and Canada. The company operates in two segments, Integrated Therapy Services (ITS) and Durable Medical Equipment ...
How the Company Makes Money
InfuSystem primarily makes money by providing infusion pump and related equipment services under recurring, service-based arrangements tied to the use of infusion devices in outpatient and home-care settings. Key revenue streams generally include ...
InfuSystem Holdings Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across the company’s different business units, showing where growth is coming from and how concentrated the revenue base is. For InfuSystem, a shift toward recurring service and rental revenue improves predictability, while dependence on a few products or customers raises exposure to reimbursement and procurement cycles.
Breaks down sales across the company’s different business units, showing where growth is coming from and how concentrated the revenue base is. For InfuSystem, a shift toward recurring service and rental revenue improves predictability, while dependence on a few products or customers raises exposure to reimbursement and procurement cycles.
Data provided by:
The Fly
The FlyInfuSystem Holdings Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive operational and financial momentum: revenue and record adjusted EBITDA growth, stronger margins, robust cash generation, reduced net debt and substantial liquidity. Management acknowledged short-term headwinds including a deliberate revenue reduction from a restructured GE contract, temporary ERP implementation costs and some reimbursement/regulatory uncertainty (ChemoMouthpiece). However, management framed the contract restructuring and system upgrades as strategic moves that will improve profitability and scalability, and highlighted significant product-led growth (notably wound care/PCDs) and expected ERP-related cost savings (~$2 million annually). On balance, the positive performance metrics, liquidity and clear path to margin/cost improvements outweigh the near-term challenges and uncertainties.Positive Updates
Top-line Growth
Net revenue for Q4 2025 was $36.2 million, a $2.4 million or 7% increase year-over-year; management reported full-year top-line growth of 7%.
Negative Updates
Contract Restructuring Reduces Revenue Base
Restructuring of the GE Healthcare biomedical services contract reduces starting 2026 revenue volume by $7.1 million (approximately 5.5% annually). Management expects expense reductions to exceed revenue decline, but the change creates a lower revenue base in 2026.
Read all updates
Q4-2025 Updates
Positive
Negative
Top-line Growth
Net revenue for Q4 2025 was $36.2 million, a $2.4 million or 7% increase year-over-year; management reported full-year top-line growth of 7%.
Read all positive updates
Company Guidance
The company guided to pro forma 2026 net revenue growth of roughly 6%–8% (management cited a 6.8% midpoint after adjusting for the GE contract), with adjusted EBITDA margins expected to remain in the mid‑ to low‑20% range (Q4 adjusted EBITDA was $8.8M or 24.3% of revenue and full‑year adjusted EBITDA was $31.5M, up 24%), noting the $7.1M (5.5%) revenue reduction from the GE restructuring will be more than offset by even larger cost savings; ERP implementation costs that boosted Q4 SG&A by $689k are expected to taper after Q1, with roughly $2.0M of annualized savings thereafter, and management expects acceleration in net revenue, adjusted EBITDA and operating cash flow (Q4 operating cash flow was $7.1M; full‑year operating cash flow was ~$24.4M, +19% YoY). Liquidity and balance‑sheet metrics cited to support the plan included available liquidity of nearly $58M as of 12/31/25, net debt down ~30% YoY (a $6.9M reduction in 2025) with net debt/adjusted EBITDA ~0.52x, $20M of revolver borrowings fixed at 3.8% through April 2028, and continued opportunistic share repurchases (137k shares in Q4, 1.3M shares / ~$9.9M repurchased in 2025).InfuSystem Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 143.44M | 134.86M | 125.78M | 109.91M | 102.38M |
| Gross Profit | 80.30M | 70.40M | 63.11M | 60.56M | 58.54M |
| EBITDA | 25.22M | 20.03M | 16.53M | 14.89M | 17.26M |
| Net Income | 6.63M | 2.35M | 872.00K | 18.00K | 1.42M |
Balance Sheet | |||||
| Total Assets | 100.56M | 103.61M | 102.92M | 99.39M | 97.59M |
| Cash, Cash Equivalents and Short-Term Investments | 3.19M | 527.00K | 231.00K | 165.00K | 186.00K |
| Total Debt | 3.43M | 28.42M | 34.90M | 36.92M | 36.77M |
| Total Liabilities | 43.23M | 46.09M | 50.61M | 51.38M | 49.31M |
| Stockholders Equity | 57.33M | 57.53M | 52.30M | 48.00M | 48.27M |
Cash Flow | |||||
| Free Cash Flow | 23.85M | 2.63M | 106.00K | 2.44M | 1.66M |
| Operating Cash Flow | 24.41M | 20.46M | 11.22M | 17.52M | 18.32M |
| Investing Cash Flow | -6.79M | -13.24M | -6.73M | -11.48M | -21.32M |
| Financing Cash Flow | -14.96M | -6.92M | -4.42M | -6.06M | -6.46M |
InfuSystem Holdings Technical Analysis
Positive
9.60
Price Trends
8.65
Positive
9.01
Positive
8.64
Positive
Market Momentum
0.29
Positive
58.30
Neutral
65.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INFU, the sentiment is Positive. The current price of 9.6 is above the 20-day moving average (MA) of 9.43, above the 50-day MA of 8.65, and above the 200-day MA of 8.64, indicating a bullish trend. The MACD of 0.29 indicates Positive momentum. The RSI at 58.30 is Neutral, neither overbought nor oversold. The STOCH value of 65.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INFU.
InfuSystem Holdings Risk Analysis
InfuSystem Holdings disclosed 14 risk factors in its most recent earnings report. InfuSystem Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
InfuSystem Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $195.88M | 27.96 | 11.91% | ― | 6.23% | 283.88% | |
71 Outperform | $208.66M | 16.41 | 9.56% | 2.15% | -12.35% | -17.20% | |
52 Neutral | $204.03M | -101.73 | -21.71% | ― | 22.12% | 69.19% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $212.91M | -2.59 | -18.58% | ― | -43.95% | -620.21% | |
44 Neutral | $161.56M | -5.36 | -127.51% | ― | 30.55% | -340.19% |
* Healthcare Sector Average
INFU
InfuSystem Holdings
9.69
3.54
57.56%
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InfuSystem Holdings Corporate Events
Business Operations and Strategy
InfuSystem To Present At 38th Annual ROTH Conference
Positive
Mar 16, 2026
InfuSystem Holdings, Inc., a U.S.-based provider of outpatient-focused durable medical equipment services across oncology, pain management and wound therapy, operates through Patient Services and Device Solutions platforms and supports providers a...
Business Operations and StrategyFinancial Disclosures
InfuSystem Reports Record 2025 Revenue and Earnings Growth
Positive
Feb 27, 2026
As of the year ended December 31, 2025, InfuSystem reported its seventh consecutive year of record revenue, with net revenues rising to $143.4 million and 2025 adjusted EBITDA reaching $31.5 million, reflecting an 8% compound annual growth rate fo...
Financial Disclosures
InfuSystem Sets Date to Report 2025 Financial Results
Neutral
Feb 17, 2026
InfuSystem Holdings, Inc., a national healthcare service provider focused on outpatient care for complex durable medical equipment, operates through Patient Services in oncology, pain management and wound therapy, and a Device Solutions segment pr...
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.
Disclaimer
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.