公司概述
Agilon Health, Inc. operates within the Healthcare sector, specifically serving the Medical Care Facilities industry by providing comprehensive healthcare services to senior populations across the United States. The company utilizes a subscription-based model, often referred to as per-member per-month, to manage the total healthcare needs of patients through a network of primary care physicians embedded in local communities. Currently, the entity is valued at a market capitalization of $329.46M and generates an annual revenue of $5.93B based on trailing twelve-month data. The organization employs 856 individuals to execute its operational model, indicating a significant scale of operations relative to its market capitalization. This disparity between the substantial revenue figure and the relatively modest market cap suggests that the market may be pricing in high uncertainty regarding future profitability or significant ongoing capital requirements to sustain growth.
财务健康
Agilon Health reported a trailing twelve-month revenue of $5.93B, yet this revenue generated a net income of -$405,347,008, revealing a cost structure where expenses vastly exceed operating revenue. The company also reported an EBITDA of -$406,182,016, indicating that even before financing costs and taxes, the core business operations are currently operating at a loss. Free cash flow stands at -$81,226,128, which signifies that the company is consuming more cash from operations than it is generating, thereby limiting its immediate financial flexibility without external capital infusion. The gross margin is listed at -2.7%, while the operating margin is -10.0% and the profit margin is -6.6%, collectively demonstrating that the company is incurring losses at every level of profitability analysis. On the balance sheet, the company holds $285.14M in cash against $36.81M in debt, resulting in a debt-to-equity ratio of 29.05, which suggests a highly leveraged position relative to equity despite the high cash balance. The current ratio of 1.02 indicates that the company's current assets barely cover its current liabilities, pointing to tight short-term liquidity conditions. Furthermore, the return on equity is -135.6% and the return on assets is -17.5%, metrics that reveal management is currently unable to generate positive returns on the capital invested in the business.
估值评估
The valuation metrics present a complex picture, with a trailing P/E ratio listed as N/A due to the lack of net income, while the forward P/E is reported at -5.42, implying expectations of continued negative earnings in the coming period. The price-to-book ratio is 2.60, indicating that the market values the company at 2.6 times its book value, which suggests a premium pricing relative to the net asset value despite the current losses. Alternative valuation measures such as the price-to-sales ratio of 0.06 and an EV/EBITDA of -0.20 further highlight the disconnect between the company's massive revenue generation and its current earnings reality. The stock has traded between a 52-week low of $7.48 and a 52-week high of $152.00, meaning the current price sits significantly below the recent peak, reflecting a substantial decline in investor sentiment over the last year. With a beta of 0.33, the stock exhibits low volatility relative to the broader market, suggesting that its price movements are less sensitive to general market fluctuations compared to larger-cap equities.
Growth & Income
The company achieved a revenue growth year-over-year of 3.1%, whereas earnings growth is N/A due to the absence of positive net income, indicating that revenue expansion has not yet translated into profitability. As a non-dividend payer, Agilon Health reports a dividend yield of N/A and a payout ratio of 0.0%, meaning the company currently reinvests all available resources into operations rather than distributing cash to shareholders. The absence of a dividend program combined with negative earnings growth implies that the firm is prioritizing capital retention to fund its service delivery model rather than providing immediate income returns. Overall, the growth and income profile is characterized by top-line expansion without corresponding bottom-line improvement, resulting in a company that offers no current income yield and relies entirely on future operational efficiency to potentially alter its capital allocation strategy.