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InfuSystem Holdings
(INFU)
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Rating:69Neutral
Price Target:
$10.00
▲(0.81% Upside)
Action:Reiterated
Date:08/04/26
INFU scores well on improving profitability and strong cash generation, reinforced by upbeat guidance for mid-single-digit pro forma growth and low-to-mid 20% EBITDA margins. The score is held back by a mixed technical picture (below key moving averages with slightly negative MACD) and a valuation (P/E ~24) that leaves less room for execution missteps, plus some balance-sheet and segment volatility risks (re-leveraging vs 2025 and GE-related revenue headwind).
Positive Factors
Cash Generation
Consistent multi-year operating cash flow and strong FCF in 2025 and TTM provide durable internal funding for equipment reinvestment, selective M&A, and buybacks. Reliable cash conversion strengthens the company's ability to sustain capex-heavy rental model and weather cyclical demand.
Negative Factors
Contract Revenue Loss
A material, structural reduction from a major biomedical contract reduces top-line predictability and highlights customer-concentration risk. Even if margin-accretive, the loss requires replacement revenue or deeper penetration elsewhere to sustain long-term growth targets.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Consistent multi-year operating cash flow and strong FCF in 2025 and TTM provide durable internal funding for equipment reinvestment, selective M&A, and buybacks. Reliable cash conversion strengthens the company's ability to sustain capex-heavy rental model and weather cyclical demand.
Read all positive factors
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 (INFU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$184.46M
Dividend YieldN/A
Average Volume (3M)227.45K
Price to Earnings (P/E)24.0
Beta (1Y)1.70
Revenue Growth3.50%
EPS Growth157.81%
CountryUS
Employees473
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.42
Shares Outstanding20,181,704
10 Day Avg. Volume123,129
30 Day Avg. Volume227,454
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)3.23
Price to Sales (P/S)1.29
P/FCF Ratio11.79
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$18.75Price Target Upside89.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.43
Revenue Forecast (FY)$144.77M
InfuSystem Holdings Business Overview & Revenue Model
Company Description
InfuSystem Holdings, Inc. delivers infusion pumps, along with associated products and support services, to clients across the United States and Canada. The enterprise operates through two principal divisions: Integrated Therapy Services (ITS) and ...
How the Company Makes Money
InfuSystem makes money primarily by providing infusion pumps and related equipment under service-based arrangements where customers pay for access to devices and accompanying services rather than purchasing the equipment outright. Key revenue stre...
InfuSystem Holdings Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call presents a largely positive operational and financial picture: record quarterly revenue, double-digit growth in Wound Care, expansion of margins (consolidated and in Device Solutions), adjusted EBITDA growth and strong cash/liquidity metrics. Offsetting items include a material near-term revenue reduction from the GE contract restructuring (partly margin-accretive), a meaningful decline in Device Solutions revenue and equipment sales, pressure on Patient Services margins due to product mix and higher operating expenses, and continued ERP-related spend during stabilization. On balance, the improvements in revenue, EBITDA, margins, product-market expansion (lymphedema/compression devices), and conservative leverage outweigh the headwinds.Positive Updates
Record Quarterly Revenue
Revenue of $36.9 million in Q2 2026, a new quarterly record; up $1.0 million or 2.6% year-over-year on a GAAP basis and up 7.5% on a non-GAAP pro forma basis (excluding GE Healthcare contract restructuring).
Negative Updates
GE Healthcare Contract Restructuring Reduced Revenue
Restructuring of the biomedical services contract with GE Healthcare reduced Q2 revenue by $1.6 million and is expected to lower annual revenue by approximately $7.1 million — a material near-term revenue headwind, albeit improving margins through reduced direct contract expenses.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue
Revenue of $36.9 million in Q2 2026, a new quarterly record; up $1.0 million or 2.6% year-over-year on a GAAP basis and up 7.5% on a non-GAAP pro forma basis (excluding GE Healthcare contract restructuring).
Read all positive updates
Company Guidance
Management guided that, after adjusting for the $7.1 million annual revenue reduction from the GE Healthcare contract restructuring, it expects pro forma annual revenue growth of 6–8% for 2026 and to maintain adjusted EBITDA margins in the low- to mid-20% range (consistent with a longer‑term 22–25% target), inclusive of IT upgrade costs, with management suggesting the 22–25% range is achievable within roughly 2–3 years; for context, Q2 revenue was $36.9M (GAAP +2.6% YoY; pro forma +7.5%), adjusted EBITDA was $8.6M (23.4% margin), Oncology exceeded $20M (up 6.4%), Wound Care grew $2.1M (154%), Device Solutions revenue was $12.1M (down 16.1%), consolidated gross profit was $21.4M (gross margin 58% vs 55.2% LY), net income was $3.2M ($0.15/diluted), operating cash flow for the first six months was $7.7M, investments in rental equipment were $6.5M, share repurchases were $4.4M, available liquidity was $55.2M, and net debt was $19.5M (0.61x TTM adjusted EBITDA).InfuSystem Holdings Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
63
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 143.34M | 143.44M | 134.86M | 125.78M | 109.91M | 102.38M |
| Gross Profit | 82.35M | 80.30M | 70.40M | 63.11M | 60.56M | 58.54M |
| EBITDA | 22.82M | 25.22M | 20.03M | 16.53M | 14.89M | 17.26M |
| Net Income | 8.54M | 6.63M | 2.35M | 872.00K | 18.00K | 1.42M |
Balance Sheet | ||||||
| Total Assets | 97.70M | 100.56M | 103.61M | 102.92M | 99.39M | 97.59M |
| Cash, Cash Equivalents and Short-Term Investments | 964.00K | 3.19M | 527.00K | 231.00K | 165.00K | 186.00K |
| Total Debt | 23.25M | 3.43M | 28.42M | 34.90M | 36.92M | 36.77M |
| Total Liabilities | 38.55M | 43.23M | 46.09M | 50.61M | 51.38M | 49.31M |
| Stockholders Equity | 59.15M | 57.33M | 57.53M | 52.30M | 48.00M | 48.27M |
Cash Flow | ||||||
| Free Cash Flow | 19.09M | 15.72M | 2.63M | 106.00K | 2.44M | 1.66M |
| Operating Cash Flow | 23.37M | 24.41M | 20.46M | 11.22M | 17.52M | 18.32M |
| Investing Cash Flow | -8.23M | -6.79M | -13.24M | -6.73M | -11.48M | -21.32M |
| Financing Cash Flow | -14.89M | -14.96M | -6.92M | -4.42M | -6.06M | -6.46M |
InfuSystem Holdings Technical Analysis
Positive
9.92
Price Trends
9.44
Positive
9.55
Positive
9.30
Positive
Market Momentum
0.51
Negative
69.24
Neutral
82.75
Negative
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 9.92 is above the 20-day moving average (MA) of 9.66, above the 50-day MA of 9.44, and above the 200-day MA of 9.30, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 69.24 is Neutral, neither overbought nor oversold. The STOCH value of 82.75 is Negative, 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $224.54M | 21.90 | 8.74% | 1.84% | -7.00% | ― | |
69 Neutral | $184.46M | 24.03 | 14.81% | ― | 3.50% | 157.81% | |
67 Neutral | $311.28M | -8.69 | -246.44% | ― | 17.41% | -189.91% | |
60 Neutral | $188.78M | -83.54 | -10.63% | ― | 23.30% | 57.37% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $278.84M | -3.89 | -21.50% | ― | -30.08% | -143.79% |
* Healthcare Sector Average
INFU
InfuSystem Holdings
11.87
4.35
57.85%
OSUR
Orasure Technologies
4.00
1.26
45.72%
UTMD
Utah Medical Products
69.97
15.36
28.13%
KRMD
REPRO-MED Systems
3.56
-0.31
-8.01%
SMTI
Sanara MedTech
34.09
9.73
39.94%
InfuSystem Holdings Corporate Events
Business Operations and StrategyFinancial Disclosures
InfuSystem Highlights Strong 2025 Results and Growth Outlook
Positive
Aug 4, 2026
InfuSystem Holdings, listed on NYSE American as INFU, operates a scaled home healthcare services platform focused on delivering complex therapies such as oncology infusion, wound care and pain management outside hospital settings, supported by emb...
Financial Disclosures
InfuSystem Schedules Second Quarter 2026 Results Release
Neutral
Jul 28, 2026
On July 28, 2026, InfuSystem Holdings announced it will release its second quarter 2026 financial results on August 4, 2026, before U.S. markets open. The company will host an investor conference call that same day at 9:00 a.m. Eastern Time, with ...
Business Operations and StrategyStock Buyback
InfuSystem Announces New $20 Million Share Repurchase Program
Positive
May 18, 2026
InfuSystem Holdings, Inc., a national health care service provider focused on outpatient clinic-to-home care for complex durable medical equipment, operates across Patient Services and Device Solutions platforms serving oncology, pain management a...
Executive/Board ChangesShareholder Meetings
InfuSystem Appoints Beverly Huss as New Board Chair
Positive
May 14, 2026
Following InfuSystem Holdings, Inc.’s 2026 Annual Meeting of Stockholders held on May 11, 2026, the board elected director Beverly Huss as Chairman of the Board. The company emphasized that her appointment involved no special arrangements, f...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
InfuSystem Stockholders Approve Expanded Equity Plan and Board
Positive
May 12, 2026
At its 2026 Annual Meeting of Stockholders held on May 11, 2026, InfuSystem stockholders approved a Third Amendment to the 2021 Equity Incentive Plan, lifting the maximum shares of common stock reserved under the plan to 7,000,000. The plan, admin...
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.