CHEMED CORP

Listed Company

CHECIK 0000019584NYSELarge AcceleratedServices-Home Health Care ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.53B

Net Income

$265.24M

Total Assets

$1.54B

Equity

$979.40M

Shares Out

13.27M

Op. Cash Flow

$388.27M

Business

CHEMED CORP purchases, operates and divests subsidiaries across diverse service businesses, managing day-to-day operations on a decentralized basis. Its main offerings are hospice and palliative care services through clinical teams and support networks, and plumbing, drain cleaning, excavation, water restoration and related home- and commercial-service offerings. The company operates through two reportable segments: VITAS (hospice and palliative care) and Roto-Rooter (plumbing and restoration services). Operations are conducted primarily across the United States via company-owned locations, franchises, contractor networks and direct patient/home-based care channels.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Service revenues and sales (Note 2)	2,530	2,431	2,264	2,135	2,139
Cost of services provided and goods sold (excluding depreciation)	1,707	1,577	1,466	1,370	1,369
Selling, general and administrative expenses	417	424	395	359	367
Depreciation	55	53	51	49	49
Amortization	10	10	10	10	10
Other operating expenses (Note 20)	3	446,000	2	4	987,000
Total costs and expenses	2,192	2,065	1,924	1,791	1,796
Income from operations	338	366	341	343	343
Interest expense	−2	−2	−3	−5	−2
Other income - net (Note 10)	19	35	13	−9	9
Income before income taxes	356	399	350	330	350
Income taxes (Note 11)	−91	−97	−78	−80	−82
Net Income	265	302	273	250	269
Net Income (per share)	18.42	20.1	18.11	16.72	17.14
Average number of shares outstanding	14	15	15	15	16
Net Income (per share)	18.34	19.89	17.93	16.53	16.85
Average number of shares outstanding	14	15	15	15	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents (Note 9)	75	178	264	74	33
Accounts receivable	183	171	182	139	137
Inventories	8	8	12	10	10
Prepaid income taxes	11	11	13	19	17
Prepaid expenses	27	26	30	30	33
Total current assets	303	395	501	273	230
Investments of deferred compensation plans held in trust (Notes 15 and 17)	140	131	106	93	99
Properties and equipment, at cost, less accumulated depreciation (Note 13)	206	201	204	200	194
Lease right of use asset (Note 14)	131	127	126	136	125
Identifiable intangible assets less accumulated amortization (Note 6)	83	92	90	100	108
Goodwill	667	667	585	581	579
Other assets (Note 12)	9	56	56	60	8
Total Assets	1,538	1,669	1,668	1,442	1,343
Accounts payable	64	44	64	42	73
Accrued insurance	62	57	59	59	56
Income taxes (Note 11)	3	8	7	—	41,000
Accrued compensation	58	92	88	87	96
Short-term lease liability (Note 14)	41	42	39	39	38
Other current liabilities (Note 21)	59	43	56	61	39
Total current liabilities	287	286	312	297	302
Deferred income taxes (Note 11)	19	26	30	39	23
Deferred compensation liabilities (Note 15)	136	126	104	92	99
Long-term lease liability (Note 14)	103	99	101	111	101
Other liabilities	13	13	13	12	10
Total Liabilities	559	550	560	643	719
Commitments and contingencies (Note 18)	—	—	—	—	—
Capital stock - authorized 80,000,000 shares $1 par; issued 37,594,676 shares (2024 - 37,422,348 shares)	38	37	37	37	37
Paid-in capital	1,592	1,484	1,341	1,150	1,044
Retained earnings	2,955	2,722	2,447	2,198	1,970
Treasury stock - 23,884,187 shares (2024 - 22,865,842 shares), at cost	−3,608	−3,127	−2,720	−2,588	−2,430
Deferred compensation payable in Company stock (Note 15)	2	2	2	2	2
Total Stockholders' Equity	979	1,119	1,108	799	623
Total Liabilities and Stockholders' Equity	1,538	1,669	1,668	1,442	1,343

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	65	63	61	59	59
Stock option expense	33	32	30	26	23
Benefit for deferred income taxes	−6	−4	−8	15	2
Noncash portion of long-term incentive compensation	5	19	9	6	8
Litigation settlements	1	−6	2	—	—
Noncash directors' compensation	1	1	1	1	1
Amortization of debt issuance costs	321,000	321,000	580,000	342,000	306,000
(Increase)/decrease in accounts receivable	−12	11	−41	−2	−8
Decrease/(increase) in inventories	650,000	4	−2	−162,000	−3
(Increase)/decrease in prepaid expenses	−844,000	4	87,000	2	−7
Decrease in accounts payable and other current liabilities	−5	−9	−9	15	10
Change in current income taxes	−6	2	12	−996,000	−20
Net change in lease assets and liabilities	−806,000	−674,000	−1	1	−44,000
Decrease/(increase) in other assets	37	−26	−10	−46	−10
Increase in other liabilities	10	23	13	−3	12
Other sources	459,000	2	836,000	−26,000	1
Net cash provided by operating activities	388	417	330	310	309
Capital expenditures	−63	−50	−57	−57	−59
Proceeds from sale of fixed assets	5	3	640,000	2	904,000
Business combinations, net of cash acquired	−225,000	−97	−4	−4	—
Other uses	−888,000	−295,000	−434,000	−878,000	14,000
Net cash used by investing activities	−59	−144	−61	−59	−58
Purchases of treasury stock	−432	−361	−68	−115	−576
Dividends paid	−32	−27	−24	−22	−22
Proceeds from exercise of stock options	27	57	102	45	36
Change in cash overdraft payable	11	−16	16	−12	12
Capital stock surrendered to pay taxes on stock-based compensation	−9	−9	−10	−16	−15
Payments on other long-term debt	—	—	−98	−3	—
Other sources/(uses)	1	−2	490,000	−1	−165,000
Net cash used by financing activities	−433	−359	−80	−209	−381
(Decrease)/increase in cash and cash equivalents	−104	−86	190	41	−130

Filings

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