What is AdaptHealth Corp. worth?
With the base-case assumptions below, a discounted cash flow model on AdaptHealth Corp.'s reported free cash flow gives $39.69 per share. The share price was $7.27 on November 10, 2026, 82% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $18.65 | +157% |
| Base | 15.0% | 9.0% | $39.69 | +446% |
| Bull | 20.0% | 8.0% | $78.88 | +986% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $55.63 | $60.60 | $66.67 | $74.26 | $84.02 |
| 8.0% | $43.66 | $46.88 | $50.69 | $55.26 | $60.84 |
| 9.0% | $34.95 | $37.15 | $39.69 | $42.66 | $46.16 |
| 10.0% | $28.35 | $29.91 | $31.69 | $33.72 | $36.06 |
| 11.0% | $23.18 | $24.33 | $25.61 | $27.05 | $28.69 |
Where the presets come from
Base: years 1 to 5 grow at AdaptHealth Corp.'s revenue growth rate over the last 5 fiscal years (25.2% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions