Chemed Corp

Health Care
Medical/Nursing Services
www.chemed.com

Earnings Score
Moat Score

Market Cap $8.24B
PE 27
Debt $NaN
Cash $238.45M
EV $NaN
FCF $308.21M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$301.73M
EBIT	$394.94M
ROE	24%
ROA	22%
FCF	$308.21M
Equity	$1.24B
Growth Stability	93%
PE	27.31
PEG	33.91
PB	6.67
P/FCF	26.74
P/S	3.47
Price/Cash	0.03
Net Margins	12%
Gross Margins	36%
Op. Margins	17%
Earnings CAGR	15%
Sales Growth YoY	7%
Sales Growth QoQ	2%
Sales CAGR	5%
FCF CAGR	14%
Equity CAGR	10%
Earnings Stability	0.68
Earnings Growth YoY	1%
Earnings Growth QoQ	7%

Earnings CAGR 5Y	1%
Sales CAGR 5Y	3%
FCF CAGR 5Y	6%
Equity CAGR 5Y	10%
Earnings CAGR 3Y	4%
Sales CAGR 3Y	4%
FCF CAGR 3Y	6%
Equity CAGR 3Y	32%
Market Cap	$8.24B
Revenue	$2.38B
Dividend Yield	0%
Payout Ratio	9%
Assets	$1.77B
Cash	$238.45M
Shares Outstanding	14.98M
Earnings Score	89%
Moat Score	95%
Working Capital	225.66M
Current Ratio	1.85
Gross Profit	$847.80M
Shares Growth 3y	-0%
Equity Growth QoQ	2%
Equity Growth YoY	21%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

Chemed Corp operates subsidiaries in two main segments: VITAS and Roto-Rooter. The VITAS segment generates the majority of the firm's revenue. It provides hospice and palliative-care services to patients with terminal illnesses through a network of physicians, registered nurses, home health aides, social workers, and volunteers. The vast majority of the segment's revenue is received from the Medicare and Medicaid reimbursement programs. The Roto-Rooter segment provides plumbing, drain cleaning, water restoration, and related services to residential and commercial customers. Chemed generates the majority of its revenue from business in the United States.

SEC Filings

Direct access to Chemed Corp (CHE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Chemed Corp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Chemed Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 15%

Stability 68%

loading chart...

Chemed Corp Discounted Cash Flow

Fully customizable DCF calculator online for Chemed Corp.

Years

Calculation mode

= $8B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$308M	$350M	$398M	$452M	$514M	$584M	$664M	$755M	$857M	$974M	$1.1B	$11B
DCF		$318M	$329M	$340M	$351M	$363M	$375M	$387M	$400M	$413M	$427M	$4.3B
Value	$8B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	7%	7%	7%	6%	12%	11%	15%	13%	12%	12%	12%
ROA	-	22%	20%	13%	25%	21%	28%	26%	24%	21%	22%
ROE	-	21%	21%	18%	35%	30%	35%	43%	31%	25%	24%

Good Net Margins (11.82%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0.82	1.23	1.19	0.49	0.8	-	0.74	0.41	-	-
Debt over Equity	0.34	0.19	0.22	0.21	0.15	0.12	-	0.3	0.13	-	-
Growth Stability	-	-	-	93%	100%	100%	100%	100%	93%	98%	93%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (93%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	6%	2%	6%	7%	9%	7%	3%	-0%	6%	3%
Earnings YoY growth	-	11%	-1%	-10%	109%	7%	45%	-16%	-7%	9%	1%
Equity YoY growth	-	14%	2%	3%	9%	23%	24%	-31%	28%	39%	10%
FCF YoY growth	-	82%	-21%	-3%	95%	-38%	281%	-42%	-1%	8%	6%