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BrightSpring Health Services, Inc. operates as a home and community-based healthcare services platform in the United States. The company operates through two segments, Pharmacy Solutions and Provider Services. Its platform focuses on delivering pharmacy and provider services, including clinical and supportive care in home and community settings to Medicare, Medicaid, and insured populations. It also offers infused, injectable, and oral medication services; and patient-centric, highly skilled, and compassionate clinical home health care, as well as rehabilitation services, including physical, speech and occupational therapy and applied behavioral analysis. The company was formerly known as Phoenix Parent Holdings Inc. and changed its name to BrightSpring Health Services, Inc. in May 2021. BrightSpring Health Services, Inc. was founded in 1974 and is headquartered in Louisville, Kentucky.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $12.9B | $460M | $191M | $395M | 10.2% | 28.2% | -1155.6% |
| 2024 | $10.1B | $300M | $-18M | $-57M | -1.1% | 31.0% | -88.3% |
| 2023 | $7.7B | $260M | $-155M | $137M | -26.4% | -0.4% | 186.8% |
| 2022 | $7.7B | $392M | $-54M | $-75M | -7.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 7,720.56 | 7,691.02 | 10,072.21 | 12,910.56 |
| Operating Revenue | - | 7,720.56 | 7,691.02 | 10,072.21 | 12,910.56 |
| Cost Of Revenue | - | 6,366.32 | 6,552.02 | 8,805.79 | 11,392.79 |
| Gross Profit | - | 1,354.24 | 1,139 | 1,266.43 | 1,517.78 |
| Operating Expense | - | 1,125.56 | 1,080.87 | 1,158.47 | 1,222.53 |
| Selling General And Administration | - | 1,125.56 | 1,080.87 | 1,158.47 | 1,222.53 |
| Total Expenses | - | 7,491.87 | 7,632.89 | 9,964.26 | 12,615.31 |
| Operating Income | - | 228.69 | 58.12 | 107.95 | 295.25 |
| Total Operating Income As Reported | - | 187.83 | 58.12 | 107.95 | 295.25 |
| EBITDA | - | 391.80 | 260.46 | 299.71 | 459.53 |
| Normalized EBITDA | - | 432.66 | 260.46 | 312.44 | 459.53 |
| EBIT | - | 187.83 | 58.12 | 95.23 | 295.25 |
| Interest Expense | - | 233.58 | 271.90 | 190.55 | 157.31 |
| Net Interest Income | - | -233.58 | -271.90 | -190.55 | -157.31 |
| Other Income Expense | - | -40.86 | - | -12.73 | - |
| Interest Expense Non Operating | - | 233.58 | 271.90 | 190.55 | 157.31 |
| Net Non Operating Interest Income Expense | - | -233.58 | -271.90 | -190.55 | -157.31 |
| Pretax Income | - | -45.75 | -213.77 | -95.32 | 137.94 |
| Tax Provision | - | 8.46 | -31.51 | -26.39 | 33.15 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -8.58 | 0 | -3.53 | 0 |
| Net Income Continuous Operations | - | -54.22 | -182.27 | -68.93 | 104.80 |
| Net Income From Continuing And Discontinued Operation | - | -53.91 | -154.60 | -18.06 | 190.67 |
| Net Income From Continuing Operation Net Minority Interest | - | -53.91 | -180.03 | -66.47 | 106.35 |
| Net Income | - | -53.91 | -154.60 | -18.06 | 190.67 |
| Net Income Common Stockholders | - | -53.91 | -154.60 | -18.06 | 190.67 |
| Net Income Including Noncontrolling Interests | - | -54.22 | -156.84 | -20.52 | 189.11 |
| Normalized Income | - | -21.63 | -180.03 | -57.27 | 106.35 |
| Diluted NI Availto Com Stockholders | - | -53.91 | -154.60 | -18.06 | 190.67 |
| Basic Average Shares | - | 171.19 | 171.19 | 193 | 202.56 |
| Diluted Average Shares | - | 171.19 | 171.19 | 193 | 219.77 |
| Reconciled Depreciation | - | 203.97 | 202.34 | 204.48 | 164.28 |
| Reconciled Cost Of Revenue | - | 6,366.32 | 6,552.02 | 8,805.79 | 11,392.79 |
| Total Unusual Items | - | -40.86 | 0 | -12.73 | 0 |
| Total Unusual Items Excluding Goodwill | - | -40.86 | 0 | -12.73 | 0 |
| Minority Interests | - | 0.31 | 2.23 | 2.46 | 1.55 |
| Net Income Discontinuous Operations | - | - | 25.43 | 48.41 | 84.32 |
| Special Income Charges | - | -40.86 | 0 | -12.73 | 0 |
| Other Special Charges | - | - | - | 12.73 | - |
| Impairment Of Capital Assets | 0 | 40.86 | 0 | 0 | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| BrightSpring Health Services, Inc.this co. | BTSG | $11.3B | 59.39↑ premium | 6.04 | 10.2% | 30.34 |
| Revvity, Inc. | RVTY | $11.4B | 47.36 | 1.58 | 3.3% | 18.15 |
| Molina Healthcare, Inc. | MOH | $10.0B | 21.28 | 2.47 | 11.6% | - |
| Baxter International Inc. | BAX | $10.0B | -10.44 | 1.63 | -15.6% | 23.25 |
| Krystal Biotech, Inc. | KRYS |
| 2021 | - | - | - | - | - | - | - |
| $9.1B |
| 44.30 |
| 7.44 |
| 16.8% |
| 51.16 |
| Charles River Laboratories International, Inc. | CRL | $8.9B | - | 2.83 | -4.6% | 27.52 |
| Henry Schein, Inc. | HSIC | $8.7B | 21.84 | 2.68 | 12.3% | 12.42 |
| Bio-Techne Corporation | TECH | $8.3B | 113.50 | 4.34 | 3.8% | 39.69 |
| Corcept Therapeutics Incorporated | CORT | $8.0B | 80.68 | 12.41 | 15.4% | 66.11 |
| Peer Median | - | 44.30 | 2.75 | 7.7% | 27.52 | |