Quipt Home Medical (QIPT) AI Stock Analysis

• Market Cap: C$140.76M
• Dividend Yield: N/A
• Average Volume (3M): 16.89K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.65
• Revenue Growth: -0.70%
• EPS Growth: -102.48%
• Country: CA
• Employees: 1,200
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.10
• Shares Outstanding: 43,443,974
• 10 Day Avg. Volume: 16,042
• 30 Day Avg. Volume: 16,885
• PEG Ratio: -0.15
• Price to Book (P/B): 1.15
• Price to Sales (P/S): 0.50
• P/FCF Ratio: 4.92
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$5.18
• Price Target Upside: 49.71% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: C$3.50 ▲(1.16% Upside)

Quipt Home Medical's overall stock score is primarily impacted by its financial performance, which shows profitability challenges despite strong cost management. The technical analysis indicates bearish momentum, and the valuation is negatively affected by the company's unprofitability. The earnings call provided some positive insights into strategic growth and stable EBITDA margins, but ongoing challenges remain.

Positive Factors

Strategic Partnerships

These partnerships expand Quipt's presence in key regions, enhancing its market position and driving long-term growth through increased access to healthcare networks.

Recurring Revenue

A high percentage of recurring revenue indicates a stable and predictable income stream, which supports financial stability and long-term business sustainability.

Joint Venture with Hart Medical

This venture enhances Quipt's scale and operational capacity, potentially increasing revenue and EBITDA, which can improve market competitiveness and financial performance.

Negative Factors

Profitability Challenges

Ongoing profitability issues can hinder financial health, limiting the company's ability to reinvest in growth and potentially affecting long-term viability.

Board Governance Issues

Governance concerns can lead to strategic misalignments and erode investor confidence, impacting the company's reputation and long-term strategic execution.

Revenue Decline

A decline in revenue growth can signal market challenges or operational inefficiencies, potentially affecting the company's ability to sustain growth and profitability.

Quipt Home Medical Business Overview & Revenue Model

Company Description

Quipt Home Medical Corp. provides in-home medical equipment and supplies, and respiratory and durable medical equipment in the United States. It offers management of various chronic disease states focusing on patients with heart and pulmonary disease, sleep apnea, reduced mobility, and other chronic health conditions. The company also provides bariatric equipment, bathroom safety products, bilevel positive airway pressure, canes/crutches, continuous positive airway pressure, CPAP masks and accessories, hospital beds, humidifiers, nebulizers and compressors, oxygen concentrators, patient lifts, walkers, wheelchairs, and products for wound care. In addition, it offers ventilators; home-based sleep apnea and chronic obstructive pulmonary disease treatments; home-based healthcare logistics and services; medical supplies, medical equipment, mobility equipment, and respiratory equipment; and CPAP and BiPAP units, ventilation equipment and aids, daily and ambulatory aides, and equipment solutions, as well as home and hospital delivery, and oxygen therapy services. The company was formerly known as Protech Home Medical Corp. and changed its name to Quipt Home Medical Corp. in May 2021. Quipt Home Medical Corp. was incorporated in 1993 and is headquartered in Wilder, Kentucky.

How the Company Makes Money

Quipt Home Medical generates revenue through multiple streams, primarily by providing durable medical equipment and related services to patients with chronic health conditions. The company earns money from the sale and rental of medical equipment, such as oxygen concentrators, CPAP machines, and mobility aids. Additionally, Quipt receives reimbursements from government programs like Medicare and Medicaid, as well as private insurance providers, for the medical equipment and services it supplies. Strategic partnerships with healthcare providers and institutions enhance its reach, while a focus on patient-centric services ensures a steady demand for its offerings.

Quipt Home Medical Financial Statement Overview

Summary

Quipt Home Medical faces profitability challenges with declining revenue and negative net income. While cost management is strong, as seen in the gross profit margin, the company needs to address its profitability to improve financial health. The balance sheet shows manageable leverage, but the negative ROE is concerning. Cash flow management remains a relative strength, but declining free cash flow growth needs attention.

Income Statement

Quipt Home Medical's income statement shows declining revenue growth with a negative trend in net profit margin and EBIT margin in the TTM period. The gross profit margin remains strong at over 71%, indicating efficient cost management. However, the negative net income and EBIT suggest challenges in profitability, impacting the overall score.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 0.90, indicating manageable leverage. However, the negative return on equity highlights profitability issues. The equity ratio is stable, suggesting a balanced asset structure, but the negative ROE impacts the score.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth, but the company maintains a reasonable operating cash flow to net income ratio. The free cash flow to net income ratio is healthy, indicating efficient cash management despite profitability challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	229.68M	245.91M	211.68M	139.86M	102.35M	72.64M
Gross Profit	164.24M	176.99M	153.78M	106.65M	74.18M	52.70M
EBITDA	48.06M	51.07M	44.07M	28.05M	13.21M	12.80M
Net Income	-10.26M	-6.76M	-2.78M	4.84M	-6.17M	-4.57M
Balance Sheet
Total Assets	236.09M	247.25M	247.41M	132.21M	108.57M	53.95M
Cash, Cash Equivalents and Short-Term Investments	11.25M	16.17M	17.21M	8.52M	34.61M	21.88M
Total Debt	92.35M	99.80M	97.96M	10.93M	27.05M	17.17M
Total Liabilities	133.56M	140.06M	136.29M	52.67M	49.95M	32.81M
Stockholders Equity	102.54M	107.19M	111.11M	79.55M	58.62M	21.14M
Cash Flow
Free Cash Flow	20.66M	25.07M	33.75M	17.38M	13.65M	―
Operating Cash Flow	34.65M	35.38M	40.54M	26.34M	18.69M	―
Investing Cash Flow	-12.97M	-10.31M	-82.83M	-42.49M	-17.84M	―
Financing Cash Flow	-24.79M	-26.15M	50.87M	-9.85M	3.91M	10.48M

Quipt Home Medical Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.46
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:QIPT, the sentiment is Positive. The current price of 3.46 is below the 20-day moving average (MA) of 3.46, below the 50-day MA of 3.57, and above the 200-day MA of 3.24, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 49.99 is Neutral, neither overbought nor oversold. The STOCH value of 32.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:QIPT.

Quipt Home Medical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PRN	54 Neutral	C$251.54M	―	-106.37%	―	64.42%	-21.09%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
QIPT	49 Neutral	C$140.76M	-9.69	-9.96%	―	-0.70%	-102.48%
ASG	48 Neutral	C$23.03M	―	-26.27%	―	17.61%	-19.19%
PINK	46 Neutral	C$29.10M	-0.90	-233.44%	―	219.12%	-15.92%
TLT	45 Neutral	C$53.98M	-12.00	-291.69%	―	16.00%	9.79%
VPT	44 Neutral	C$16.77M	―	―	―	88.47%	11.88%

Quipt Home Medical Corporate Events

Quipt Home Medical’s Strategic Moves Amid Financial Challenges

Quipt Home Medical Corp’s recent earnings call painted a picture of strategic resilience amidst some financial challenges. The company showcased important strategic expansions and maintained a steady adjusted EBITDA margin, signaling potential for future growth. However, the call also highlighted declines in revenue year-over-year, a decrease in the customer base, and increased operating expenses, pointing to ongoing challenges that the company must address.

Quipt Home Medical Rejects Forager’s Acquisition Proposal

On August 27, 2025, Quipt Home Medical Corp. confirmed receipt of another unsolicited, non-binding proposal from Forager Capital Management, LLC to acquire all of the company’s shares at $3.10 per share, a reduction from a previous offer of $3.90 per share in January 2025. The board of Quipt Home Medical has rejected these offers, citing undervaluation and concerns over Forager’s failure to comply with U.S. securities laws. The board remains focused on enhancing long-term shareholder value and is open to engaging with Forager if they agree to a confidentiality agreement.

The most recent analyst rating on (TSE:QIPT) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Quipt Home Medical stock, see the TSE:QIPT Stock Forecast page.

Quipt Home Medical Corp Faces Shareholder Activism Challenges: Implications for Operations and Market Stability

Quipt Home Medical Corp faces significant risks from proxy contests and actions by activist shareholders, which can disrupt operations and divert management’s focus. Despite agreements like the Kanen and Forager Agreements to mitigate these risks, the potential for costly and time-consuming disputes remains. Such uncertainties can deter business opportunities and complicate the retention of key personnel, potentially impacting the company’s strategic plans and financial stability. Additionally, these activities may lead to share price volatility, further affecting investor confidence and the company’s market position.

Quipt Home Medical Expands Midwest Presence Through Strategic Joint Venture

Quipt Home Medical has announced a strategic joint venture with three major health systems, acquiring a 60% stake in Hart Medical Equipment. This move is set to enhance Quipt’s presence in the Midwest, particularly with its entry into the Michigan market, and is expected to add $60 million in revenue. The partnership will strengthen Quipt’s integration with healthcare systems, leveraging Hart’s established relationships with hospitals and care facilities. The transaction is anticipated to close by the end of Fiscal Q4, 2025, and is expected to align with Quipt’s strategic goals of expanding its service network and improving patient care outcomes.

The most recent analyst rating on (TSE:QIPT) stock is a Buy with a C$8.50 price target. To see the full list of analyst forecasts on Quipt Home Medical stock, see the TSE:QIPT Stock Forecast page.

Quipt Home Medical Achieves Positive Growth and Expands Reach with Strategic Acquisition

Quipt Home Medical reported its fiscal third quarter 2025 results, highlighting a return to positive organic growth with a 1.6% increase in quarter-over-quarter revenue, despite a year-over-year decrease. The company achieved an adjusted EBITDA of 23.5% of revenue and maintained strong recurring revenue at 81%. Operationally, Quipt expanded its reach through the acquisition of a durable medical equipment provider, enhancing its presence in the Appalachian Highlands region and securing a Preferred Provider Agreement with Ballad Health. This strategic move is expected to align the acquired operation’s margins with Quipt’s historical range, supporting long-term growth and stability.

The most recent analyst rating on (TSE:QIPT) stock is a Buy with a C$8.50 price target. To see the full list of analyst forecasts on Quipt Home Medical stock, see the TSE:QIPT Stock Forecast page.