Latest Ratios: P/E Ratio 17.0x · EV/EBITDA 7.7x · ROE 15.2%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.4B | $5.2B | $4.0B | $6.1B | $5.5B | $5.2B | $2.8B | $2.3B | $457M | $360M | $97M |
| Enterprise Value | $3.1B | $5.0B | $4.8B | $6.9B | $6.3B | $6.2B | $3.9B | $3.7B | $947M | $801M | $540M |
| P/E Ratio → | 16.98 | 25.09 | 18.86 | 22.76 | 36.25 | 36.94 | — | — | — | — | — |
| P/S Ratio | 0.60 | 0.92 | 0.80 | 1.41 | 1.39 | 1.50 | 0.93 | 1.01 | 0.24 | 0.44 | 0.10 |
| P/B Ratio | 2.66 | 3.92 | 2.86 | 4.27 | 3.95 | 4.38 | 2.79 | 2.57 | — | — | — |
| P/FCF | 13.06 | 20.14 | 13.93 | 18.45 | 23.60 | 28.17 | 28.16 | 208.65 | — | — | — |
| P/OCF | 13.06 | 20.14 | 12.40 | 16.37 | 20.48 | 24.71 | 22.22 | 59.08 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.88 | 0.96 | 1.60 | 1.61 | 1.80 | 1.30 | 1.58 | 0.49 | 0.98 | 0.58 |
| EV / EBITDA | 7.69 | 12.17 | 12.50 | 18.31 | 20.74 | 23.85 | 20.91 | 63.43 | 11.94 | — | — |
| EV / EBIT | 9.30 | 14.71 | 14.48 | 16.83 | 24.42 | 33.75 | 38.48 | — | 25.55 | 20.75 | 17.15 |
| EV / FCF | — | 19.24 | 16.73 | 20.94 | 27.30 | 33.86 | 39.25 | 326.64 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.1% | 18.1% | 20.3% | 22.8% | 22.0% | 22.7% | 22.5% | 22.2% | 21.8% | 32.9% | 28.0% |
| Operating Margin | 6.0% | 6.0% | 6.4% | 7.3% | 6.1% | 5.5% | 3.7% | -0.0% | 2.0% | -7.7% | -3.9% |
| Net Profit Margin | 3.7% | 3.7% | 4.2% | 6.2% | 3.8% | 4.1% | -0.3% | -3.3% | -0.3% | -7.9% | -4.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.2% | 15.2% | 15.0% | 19.0% | 11.8% | 12.8% | -0.8% | -19.9% | — | — | — |
| ROA | 6.0% | 6.0% | 6.3% | 8.1% | 4.9% | 4.9% | -0.3% | -4.8% | -1.0% | -10.6% | -7.4% |
| ROIC | 15.3% | 15.3% | 10.8% | 10.5% | 8.1% | 6.6% | 3.8% | -0.0% | 8.1% | -12.3% | -7.3% |
| ROCE | 12.8% | 12.8% | 12.0% | 11.7% | 9.4% | 7.9% | 4.8% | -0.0% | 7.8% | -12.9% | -8.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.87 | 0.82 | 0.83 | 0.99 | 1.20 | 1.53 | — | — | — |
| Debt / EBITDA | — | — | 3.16 | 3.10 | 3.78 | 4.47 | 6.44 | 24.08 | 6.36 | — | — |
| Net Debt / Equity | — | -0.18 | 0.57 | 0.58 | 0.62 | 0.88 | 1.10 | 1.45 | — | — | — |
| Net Debt / EBITDA | -0.57 | -0.57 | 2.09 | 2.18 | 2.82 | 4.01 | 5.91 | 22.91 | 6.18 | — | — |
| Debt / FCF | — | -0.90 | 2.80 | 2.50 | 3.71 | 5.69 | 11.09 | 117.98 | — | — | — |
| Interest Coverage | 5.35 | 5.35 | 5.49 | 6.59 | 4.73 | 3.31 | 1.12 | -0.06 | 0.80 | 0.74 | 0.84 |
Net cash position: cash ($233M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.53 | 1.53 | 1.70 | 1.77 | 1.76 | 1.55 | 1.51 | 1.69 | 1.63 | 1.79 | 1.35 |
| Quick Ratio | 0.96 | 0.96 | 1.20 | 1.33 | 1.36 | 1.15 | 1.15 | 1.34 | 1.38 | 1.44 | 1.07 |
| Cash Ratio | 0.28 | 0.28 | 0.53 | 0.56 | 0.52 | 0.26 | 0.23 | 0.20 | 0.14 | 0.37 | 0.07 |
| Asset Turnover | — | 1.63 | 1.46 | 1.29 | 1.22 | 1.18 | 1.09 | 0.89 | 3.32 | 1.35 | 1.54 |
| Inventory Turnover | 9.83 | 9.83 | 10.27 | 12.12 | 13.72 | 14.52 | 14.82 | 15.51 | 56.86 | 14.70 | 18.62 |
| Days Sales Outstanding | — | 30.60 | 29.92 | 36.49 | 35.45 | 35.90 | 39.81 | 51.25 | 21.61 | 38.20 | 42.56 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 0.1% | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 4.0% | 5.3% | 4.4% | 2.8% | 2.7% | — | — | — | — | — |
| FCF Yield | 7.7% | 5.0% | 7.2% | 5.4% | 4.2% | 3.5% | 3.6% | 0.5% | — | — | — |
| Buyback Yield | 9.2% | 6.0% | 6.3% | 4.1% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 9.2% | 6.0% | 6.3% | 4.1% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $163M | $173M | $180M | $182M | $181M | $181M | $156M | $32M | $31M | $23M |
Margin compression from labor
According to current market data, OPCH trades at a forward P/E of 11.87, which suggests that investors are pricing in a significant deceleration in growth compared to the company's historical performance and the broader specialty healthcare services sector valuation benchmarks.
The current valuation appears to discount the potential for future margin expansion, reflecting market skepticism regarding the company's ability to navigate rising clinical labor costs. This multiple compression warrants further investigation into whether the market is correctly valuing the recurring nature of the chronic therapy segment versus the transactional volatility of acute care.
Based on reported financial statements, ROIC has trended downward to 5.1% in 2026Q1 from previous periods, indicating that the company is struggling to generate returns on invested capital that meaningfully exceed the cost of capital in its current operational configuration.
The decline in ROIC suggests that recent capital allocation, including M&A activity and infrastructure investment, has not yet yielded the expected efficiency gains. Investors should monitor whether the shift toward ambulatory infusion suites can reverse this trend or if the high asset intensity of the business model will continue to suppress returns.
As reported in recent filings, the cash conversion cycle has fluctuated between 7 and 21 days over the last ten quarters, highlighting the inherent difficulty in managing receivables and inventory within the complex buy-and-bill reimbursement environment of the specialty infusion industry.
The volatility in the cash conversion cycle suggests that the company's working capital efficiency is highly sensitive to payor reimbursement timing and inventory procurement cycles. This inconsistency may indicate that the company lacks the leverage to dictate terms to either its suppliers or its insurance payors, potentially impacting liquidity.
Financial analysts frequently misapply the standard P/E ratio to OPCH, as it obscures the significant impact of non-cash stock-based compensation and acquisition-related adjustments that distort the company's true earnings power in the context of its high-volume, low-margin specialty pharmacy business model.
Using P/E as the primary valuation metric ignores the volatility in cash generation caused by working capital swings and the buy-and-bill reimbursement structure. A more appropriate metric would be EV/EBITDA or a cash-flow-based valuation, which better accounts for the capital-intensive nature of the company's pharmacy and ambulatory suite footprint.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying OPCH stock.
Option Care Health, Inc.'s current P/E ratio is 17.0x. The historical average is 26.2x. This places it at the 29th percentile of its historical range.
Option Care Health, Inc.'s current EV/EBITDA is 7.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.2x.
Option Care Health, Inc.'s return on equity (ROE) is 15.2%. The historical average is -22.5%.
Based on historical data, Option Care Health, Inc. is trading at a P/E of 17.0x. This is at the 29th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Option Care Health, Inc. has 18.1% gross margin and 6.0% operating margin.