Recent News
On March 30, 2026 the company executed a Fifth Amendment to its First Lien Credit Agreement, increasing revolving credit commitments by $450 million to $850 million.
On May 13, 2026 multiple law firms announced investigations into Option Care Health following its disclosure of first-quarter results.
On June 1, 2026 Option Care Health ranked No. 15 on TIME’s World’s Most Impactful Companies 2026 list.
On June 4, 2026 the company named Robert Okunski Vice President, Investor Relations, effective May 26, 2026.
Technical Analysis
Directional indicators show an emerging trend: ADX at 22.6 indicates an emerging trend strength while DI+ increasing and DI- decreasing together signal a near-term bullish directional bias aligned with stabilization efforts.
MACD has crossed above its signal line (MACD -0.56 vs signal -0.86), which signals a bullish momentum shift for price action despite negative absolute MACD. This crossover supports the prospect of short-term upside pressure.
MRO sits at -25.47 (negative), indicating the current price lies below the MRO target and therefore carries technical potential for upward adjustment; the MRO is moving toward neutral, reducing downside pressure.
RSI at 41.48 and increasing suggests room for additional upside before momentum reaches overbought territory, reinforcing the short-term chance of mean reversion higher.
Price behavior vs moving averages shows short-term strength above the 20-day average ($20.82) and the 12-day EMA ($20.99) while remaining below the 50-day ($23.31) and 200-day ($28.64) averages; this pattern implies a short-term bullish bias inside a still-weaker intermediate-to-longer-term structure. Price near the 1x upper Bollinger band also reflects recent relative strength, with the SuperTrend lower support near $19.66.
Volume currently runs below 10- and 50-day averages, implying the recent technical signals carry less conviction until volume returns to or exceeds prior averages.
Fundamental Analysis
Profitability and margins: EBIT of $74,307,000 and EBITDA of $89,962,000 produce an EBIT margin of 5.50%. That margin sits above the industry peer median (4.692%) but below the industry peer mean (7.242%), while QoQ EBIT margin fell by 14.45% and YoY declined 4.50%, indicating recent margin compression versus prior periods.
Revenue and growth: Total revenue $1,350,654,000 shows YoY revenue growth of 6.84% but a QoQ revenue decline of 4.69%, pointing to positive year-over-year expansion offset by quarter-to-quarter softness.
Cash flow and capital: Operating cash flow sits negative at -$12,110,000 with free cash flow -$21,156,000 and free cash flow yield -0.45%, while cash and short-term investments total $177,321,000. Cash conversion cycle roughly 21.94 days, slightly above the industry peer mean, and capital expenditures at -$9,046,000 keep capex modest versus depreciation.
Leverage and liquidity: Total debt $1,270,171,000 produces net debt $982,499,000 and debt-to-EBITDA near 14.12x, reflecting elevated leverage relative to earnings before interest, taxes, depreciation and amortization. Current ratio 1.64 and quick ratio 1.07 indicate coverage of near-term obligations; the March 30 increase to $850 million in revolver capacity directly expanded liquidity runways.
Earnings and per-share metrics: Reported EPS $0.40 exceeded the $0.37 estimate by $0.03, an EPS surprise of 8.11%. Forward EPS implies a forward P/E near 59.68 while trailing P/E equals 102.45, and the PEG ratios remain negative—metrics that reflect expensive earnings multiples versus expected growth dynamics.
Valuation conclusion: The current valuation as determined by WMDST classifies the stock as over-valued. Key contributors include a trailing P/E of ~102.5, negative free cash flow yield, and high debt-to-EBITDA, which together imply elevated valuation versus fundamental cash earnings and leverage.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-30 |
| NEXT REPORT DATE: | 2026-07-30 |
| CASH FLOW | Begin Period Cash Flow | $ 232.6 M |
| Operating Cash Flow | $ -12.11 M | |
| Capital Expenditures | $ -9.05 M | |
| Change In Working Capital | $ -89.73 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -55.30 M | |
| End Period Cash Flow | $ 177.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.4 B | |
| Forward Revenue | $ 599.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.1 B | |
| Depreciation | $ 15.7 M | |
| Depreciation and Amortization | $ 15.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 262.0 M | |
| EBITDA | $ 90.0 M | |
| EBIT | $ 74.3 M | |
| Operating Income | $ 72.5 M | |
| Interest Income | — | |
| Interest Expense | $ 13.3 M | |
| Net Interest Income | $ -13.30 M | |
| Income Before Tax | $ 61.0 M | |
| Tax Provision | $ 15.7 M | |
| Tax Rate | 25.7 % | |
| Net Income | $ 45.3 M | |
| Net Income From Continuing Operations | $ 45.3 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.37 | |
| EPS Actual | $ 0.40 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 8.108 % | |
| Forward EPS | $ 0.51 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.4 B | |
| Intangible Assets | $ 1.9 B | |
| Net Tangible Assets | $ -555.58 M | |
| Total Current Assets | $ 1.2 B | |
| Cash and Short-Term Investments | $ 177.3 M | |
| Cash | $ 177.3 M | |
| Net Receivables | $ 516.4 M | |
| Inventory | $ 415.7 M | |
| Long-Term Investments | $ 48.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 545.0 M | |
| Short-Term Debt | $ 6.8 M | |
| Total Current Liabilities | $ 729.7 M | |
| Net Debt | $ 982.5 M | |
| Total Debt | $ 1.3 B | |
| Total Liabilities | $ 2.0 B | |
| EQUITY | ||
| Total Equity | $ 1.4 B | |
| Retained Earnings | $ 922.3 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 8.61 | |
| Shares Outstanding | 156.988 M | |
| Revenue Per-Share | $ 8.60 | |
| VALUATION | Market Capitalization | $ 4.7 B |
| Enterprise Value | $ 5.8 B | |
| Enterprise Multiple | 63.993 | |
| Enterprise Multiple QoQ | 17.279 % | |
| Enterprise Multiple YoY | -5.48 % | |
| Enterprise Multiple IPRWA | high: 159.017 OPCH: 63.993 median: 34.973 mean: 34.733 low: -42.479 |
|
| EV/R | 4.262 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.502 | |
| Asset To Liability | 1.666 | |
| Debt To Capital | 0.485 | |
| Debt To Assets | 0.376 | |
| Debt To Assets QoQ | 1.984 % | |
| Debt To Assets YoY | 1.661 % | |
| Debt To Assets IPRWA | high: 0.935 OPCH: 0.376 mean: 0.355 median: 0.253 low: 0.006 |
|
| Debt To Equity | 0.94 | |
| Debt To Equity QoQ | -2.072 % | |
| Debt To Equity YoY | 3.842 % | |
| Debt To Equity IPRWA | high: 6.239 OPCH: 0.94 median: 0.732 mean: -0.081 low: -6.439 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.452 | |
| Price To Book QoQ | -12.123 % | |
| Price To Book YoY | -11.271 % | |
| Price To Book IPRWA | high: 13.088 OPCH: 3.452 mean: 2.103 median: 1.563 low: -0.307 |
|
| Price To Earnings (P/E) | 102.448 | |
| Price To Earnings QoQ | 14.11 % | |
| Price To Earnings YoY | -10.628 % | |
| Price To Earnings IPRWA | high: 167.375 OPCH: 102.448 mean: 47.817 median: 35.418 low: -165.821 |
|
| PE/G Ratio | -2.772 | |
| Price To Sales (P/S) | 3.453 | |
| Price To Sales QoQ | -2.88 % | |
| Price To Sales YoY | -12.417 % | |
| Price To Sales IPRWA | high: 11.743 OPCH: 3.453 mean: 2.578 median: 1.073 low: 0.026 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 59.675 | |
| Forward PE/G | -1.615 | |
| Forward P/S | 7.635 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 2.701 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.395 | |
| Asset Turnover Ratio QoQ | -6.489 % | |
| Asset Turnover Ratio YoY | -0.237 % | |
| Asset Turnover Ratio IPRWA | high: 1.21 mean: 0.523 median: 0.406 OPCH: 0.395 low: 0.013 |
|
| Receivables Turnover | 2.729 | |
| Receivables Turnover Ratio QoQ | -11.737 % | |
| Receivables Turnover Ratio YoY | -9.279 % | |
| Receivables Turnover Ratio IPRWA | high: 9.342 median: 3.671 mean: 3.535 OPCH: 2.729 low: 0.052 |
|
| Inventory Turnover | 2.455 | |
| Inventory Turnover Ratio QoQ | -7.937 % | |
| Inventory Turnover Ratio YoY | -13.128 % | |
| Inventory Turnover Ratio IPRWA | high: 59.894 mean: 11.242 median: 4.582 OPCH: 2.455 low: 1.477 |
|
| Days Sales Outstanding (DSO) | 33.442 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 21.944 | |
| Cash Conversion Cycle Days QoQ | 50.658 % | |
| Cash Conversion Cycle Days YoY | 55.057 % | |
| Cash Conversion Cycle Days IPRWA | high: 101.8 OPCH: 21.944 median: 19.637 mean: 16.091 low: -62.922 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.902 | |
| CapEx To Revenue | -0.007 | |
| CapEx To Depreciation | -0.578 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.5 B | |
| Net Invested Capital | $ 2.5 B | |
| Invested Capital | $ 2.5 B | |
| Net Tangible Assets | $ -555.58 M | |
| Net Working Capital | $ 465.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.243 | |
| Current Ratio | 1.638 | |
| Current Ratio QoQ | 7.372 % | |
| Current Ratio YoY | 6.312 % | |
| Current Ratio IPRWA | high: 3.361 OPCH: 1.638 mean: 0.99 median: 0.854 low: 0.273 |
|
| Quick Ratio | 1.068 | |
| Quick Ratio QoQ | 11.587 % | |
| Quick Ratio YoY | 4.368 % | |
| Quick Ratio IPRWA | high: 3.117 OPCH: 1.068 mean: 0.735 median: 0.707 low: 0.492 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 14.119 | |
| Cost Of Debt | 0.778 % | |
| Interest Coverage Ratio | 5.585 | |
| Interest Coverage Ratio QoQ | -24.538 % | |
| Interest Coverage Ratio YoY | -3.761 % | |
| Interest Coverage Ratio IPRWA | high: 35.836 mean: 11.845 median: 7.359 OPCH: 5.585 low: -1.125 |
|
| Operating Cash Flow Ratio | -0.029 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 45.714 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.19 % | |
| Revenue Growth | -7.833 % | |
| Revenue Growth QoQ | -469.307 % | |
| Revenue Growth YoY | 684.084 % | |
| Revenue Growth IPRWA | high: 21.958 % median: -2.07 % mean: -2.085 % OPCH: -7.833 % low: -9.495 % |
|
| Earnings Growth | -36.957 % | |
| Earnings Growth QoQ | -336.525 % | |
| Earnings Growth YoY | 84.785 % | |
| Earnings Growth IPRWA | high: 277.778 % mean: 24.439 % median: 2.553 % OPCH: -36.957 % low: -383.193 % |
|
| MARGINS | ||
| Gross Margin | 19.399 % | |
| Gross Margin QoQ | 0.487 % | |
| Gross Margin YoY | -1.698 % | |
| Gross Margin IPRWA | high: 96.442 % mean: 25.269 % OPCH: 19.399 % median: 15.558 % low: 4.2 % |
|
| EBIT Margin | 5.502 % | |
| EBIT Margin QoQ | -14.446 % | |
| EBIT Margin YoY | -4.496 % | |
| EBIT Margin IPRWA | high: 23.127 % mean: 7.242 % OPCH: 5.502 % median: 4.692 % low: -12.88 % |
|
| Return On Sales (ROS) | 5.371 % | |
| Return On Sales QoQ | -13.981 % | |
| Return On Sales YoY | -6.77 % | |
| Return On Sales IPRWA | high: 22.401 % mean: 7.365 % OPCH: 5.371 % median: 4.66 % low: -12.88 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -21.16 M | |
| Free Cash Flow Yield | -0.454 % | |
| Free Cash Flow Yield QoQ | -206.323 % | |
| Free Cash Flow Yield YoY | 43.671 % | |
| Free Cash Flow Yield IPRWA | high: 13.5 % median: 3.132 % mean: 2.906 % OPCH: -0.454 % low: -7.715 % |
|
| Free Cash Growth | -195.105 % | |
| Free Cash Growth QoQ | 135.293 % | |
| Free Cash Growth YoY | 18.729 % | |
| Free Cash Growth IPRWA | high: 298.093 % mean: 19.189 % median: 2.874 % OPCH: -195.105 % low: -455.219 % |
|
| Free Cash To Net Income | -0.467 | |
| Cash Flow Margin | -1.571 % | |
| Cash Flow To Earnings | -0.468 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.327 % | |
| Return On Assets QoQ | -21.34 % | |
| Return On Assets YoY | -4.464 % | |
| Return On Assets IPRWA | high: 4.991 % median: 1.952 % mean: 1.722 % OPCH: 1.327 % low: -5.482 % |
|
| Return On Capital Employed (ROCE) | 2.804 % | |
| Return On Equity (ROE) | 0.034 | |
| Return On Equity QoQ | -23.917 % | |
| Return On Equity YoY | -3.006 % | |
| Return On Equity IPRWA | high: 0.27 median: 0.039 OPCH: 0.034 mean: -0.025 low: -0.261 |
|
| DuPont ROE | 3.387 % | |
| Return On Invested Capital (ROIC) | 2.2 % | |
| Return On Invested Capital QoQ | -19.118 % | |
| Return On Invested Capital YoY | -4.056 % | |
| Return On Invested Capital IPRWA | high: 7.871 % mean: 3.589 % median: 2.946 % OPCH: 2.2 % low: -6.018 % |
|