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InfuSystem Holdings, Inc. (INFU)
:INFU
RESEARCH TOOLSreports
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InfuSystem Holdings, Inc.
(NYSE MKT:INFU)
62Neutral
Positive Factors
Financial Performance
The Company showed notable progress in gross margin improvement of 122 basis points Y/Y and AEBITDA margin improvement of 282 basis points Y/Y.
Operating Cash Flow
Operating cash flow was $20.5M in 2024, an 82% increase Y/Y.
Negative Factors
Earnings
EPS of $0.04 was below our estimate and consensus of $0.08 and $0.09, respectively.
Revenue
Revenue came in below our forecast and consensus due to delays in onboarding new wound care initiatives as the Company looks to improve referral processes with newer partners.
InfuSystem Holdings, Inc. (INFU) vs. S&P 500 (SPY)
Market Cap
$103.19M
Dividend YieldN/A
Average Volume (3M)152.44K
Price to Earnings (P/E)46.5
Beta (1Y)1.30
Revenue Growth7.22%
EPS Growth166.34%
CountryUS
Employees502
SectorHealthcare
Sector Strength70
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.11
Shares Outstanding21,016,415
10 Day Avg. Volume156,261
30 Day Avg. Volume152,437
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)N/A
Price to Sales (P/S)0.92
Price to Cash Flow (P/CF)3.10
P/FCF Ratio3.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$13.75Price Target Upside176.10% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
InfuSystem Holdings, Inc. Business Overview & Revenue Model
Company DescriptionInfuSystem Holdings, Inc. (INFU) is a leading healthcare service provider, specializing in infusion pump management and related services. The company operates in the medical equipment sector, offering solutions that include providing and maintaining infusion pumps for oncology, pain management, and other healthcare therapies. InfuSystem's core services are designed to improve clinical outcomes and reduce healthcare costs by efficiently managing infusion therapy needs across hospitals, clinics, and homecare settings.
How the Company Makes MoneyInfuSystem makes money primarily through a rental and service model for its infusion pumps. The company generates revenue by renting out its extensive inventory of infusion pumps to healthcare providers, such as hospitals and clinics, which prefer not to invest in owning the equipment outright. Additionally, InfuSystem provides repair and maintenance services for these pumps, offering service contracts that ensure equipment is kept in optimal working condition. Another significant revenue stream comes from the sale of disposable medical supplies used in conjunction with the infusion pumps. InfuSystem’s earnings are further bolstered by partnerships with healthcare facilities, which often result in long-term contracts and recurring revenue. These partnerships, along with the company's focus on customer service and quality assurance, contribute significantly to its financial success.
InfuSystem Holdings, Inc. Financial Statement Overview
Summary
InfuSystem Holdings, Inc. shows strong financial health with revenue and profitability improvements. The balance sheet indicates improved leverage management, though past high debt levels require monitoring. Cash flow performance is excellent, with significant growth in free cash flow supporting financial stability.Income Statement
InfuSystem Holdings, Inc. has shown a solid revenue growth rate of 7.22% from 2023 to 2024, and their gross profit margin is strong at approximately 52.17%. The company has improved its net profit margin significantly from 0.69% in 2023 to 5.76% in 2024. The EBIT and EBITDA margins have also improved, indicating better operational efficiency. However, the past volatility in net income suggests that profitability has been inconsistent over the years.80
Positive
Balance Sheet
The company's debt-to-equity ratio has decreased from 0.70 in 2023 to 0.08 in 2024, showing improved leverage. The equity ratio is stable at 55.53%, indicating a strong equity position relative to assets. Return on equity has improved to 13.51% in 2024, showcasing better returns for shareholders. However, historical high debt levels pose a potential risk if not managed carefully.73
Positive
Cash Flow
InfuSystem Holdings, Inc. has demonstrated impressive free cash flow growth, from $106,000 in 2023 to $19.37 million in 2024. The operating cash flow to net income ratio is strong, indicating efficient cash generation relative to profits. The free cash flow to net income ratio also shows a robust ability to generate cash, enhancing financial flexibility. Despite previous fluctuations, current cash flow management appears solid.85
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 134.86M | 125.78M | 109.91M | 102.38M | 97.39M | Gross Profit |
| 70.40M | 63.11M | 62.57M | 60.20M | 58.76M | EBIT |
| 6.89M | 4.09M | 1.65M | 2.82M | 8.83M | EBITDA |
| 6.89M | 16.50M | 15.09M | 17.15M | 22.82M | Net Income Common Stockholders |
| 2.35M | 872.00K | 18.00K | 1.42M | 17.33M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 527.00K | 231.00K | 165.00K | 186.00K | 9.65M | Total Assets |
| 103.61M | 102.92M | 99.39M | 97.59M | 96.99M | Total Debt |
| 4.56M | 36.37M | 36.92M | 36.77M | 42.66M | Net Debt |
| 4.03M | 36.14M | 36.75M | 36.58M | 33.02M | Total Liabilities |
| 46.09M | 50.61M | 51.38M | 49.31M | 56.24M | Stockholders Equity |
| 57.53M | 52.30M | 48.00M | 48.27M | 40.75M |
| Cash Flow | Free Cash Flow | |||
| 2.63M | 106.00K | 2.44M | 1.66M | 3.37M | Operating Cash Flow |
| 20.46M | 11.22M | 17.52M | 18.32M | 20.28M | Investing Cash Flow |
| -13.24M | -6.73M | -11.48M | -21.32M | -12.16M | Financing Cash Flow |
| -6.92M | -4.42M | -6.06M | -6.46M | -1.12M |
InfuSystem Holdings, Inc. Technical Analysis
Negative
4.98
Price Trends
6.61
Negative
7.56
Negative
7.12
Negative
Market Momentum
-0.44
Negative
31.28
Neutral
8.92
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INFU, the sentiment is Negative. The current price of 4.98 is below the 20-day moving average (MA) of 5.46, below the 50-day MA of 6.61, and below the 200-day MA of 7.12, indicating a bearish trend. The MACD of -0.44 indicates Negative momentum. The RSI at 31.28 is Neutral, neither overbought nor oversold. The STOCH value of 8.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INFU.
InfuSystem Holdings, Inc. Risk Analysis
InfuSystem Holdings, Inc. disclosed 14 risk factors in its most recent earnings report. InfuSystem Holdings, Inc. reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
InfuSystem Holdings, Inc. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $18.59B | 43.44 | 43.03% | ― | 22.07% | 101.95% | |
73 Outperform | $20.59B | 23.34 | 7.24% | 0.94% | 3.84% | -9.29% | |
62 Neutral | $103.19M | 46.54 | 4.27% | ― | 7.22% | 166.34% | |
56 Neutral | $1.13B | ― | -33.30% | ― | 25.74% | 57.18% | |
53 Neutral | $3.41B | ― | -5.76% | ― | 5.28% | -292.14% | |
51 Neutral | $543.19M | ― | -22.87% | ― | 7.08% | 20.45% | |
48 Neutral | $6.25B | 1.14 | -46.26% | 2.69% | 19.24% | 1.75% |
* Healthcare Sector Average
Performance Comparison
INFU
InfuSystem Holdings, Inc.
4.98
-2.92
-36.96%
ICUI
ICU Medical
142.65
45.55
46.91%
PODD
Insulet
253.99
80.05
46.02%
OFIX
Orthofix
13.67
0.58
4.43%
ZBH
Zimmer Biomet Holdings
102.35
-20.56
-16.73%
TNDM
Tandem Diabetes Care
17.06
-14.80
-46.45%
InfuSystem Holdings, Inc. Earnings Call Summary
Earnings Call Date: Mar 4, 2025 | % Change Since: -31.40% | Next Earnings Date: May 1, 2025
Earnings Call Sentiment Positive
InfuSystem Holdings, Inc. showed strong financial growth with significant increases in revenue, operating income, and adjusted EBITDA. The company also achieved a record operating cash flow and demonstrated potential for future growth with the launch of the Chemo Mouthpiece. However, challenges such as high tax rates and underperformance in the wound care segment were noted, along with the anticipated costs of an ERP upgrade. Overall, the company's highlights outweigh the lowlights, indicating a positive outlook.Highlights
Strong Financial Performance
Operating income increased 69% to $6.9 million, and adjusted EBITDA increased 13% to $25.3 million with a full-year adjusted EBITDA margin of 18.8%, up from 17.8% in 2023.
Revenue Growth Across Business Lines
Revenues increased by 7.2% year-over-year. Oncology and pain management grew by 6.1% and 14.7%, respectively. Equipment rentals increased by 13.6%, and equipment sales grew by 20.6%.
Record Operating Cash Flow
Operating cash flow reached an all-time annual record of $20.5 million, a 70% increase from the prior year fourth quarter.
Chemo Mouthpiece Launch and Potential
The launch of the Chemo Mouthpiece product, with an addressable market in the hundreds of millions, has generated initial interest and small orders, with potential for broad adoption.
Lowlights
High Tax Rate Impact
The effective tax rate for the 2024 fourth quarter was 59%, partly due to tax deduction shortages on equity compensation and limitations on the deductibility of certain expenses.
Underperformance in Wound Care
Wound care business line did not meet expectations due to a pause in onboarding new initiatives to ensure alignment with resources and expectations.
ERP Upgrade Costs
Ongoing technology systems upgrade expected to cost $2.5 million in 2025, impacting adjusted EBITDA margins.
Company Guidance
In the call, InfuSystem Holdings, Inc. provided guidance for 2025, expecting revenue growth between 8% and 10%, with adjusted EBITDA margins surpassing the 18.8% achieved in 2024. The company anticipates improved adjusted EBITDA despite incurring approximately $2.5 million in expenses related to an ongoing technology systems upgrade. Without these costs, adjusted EBITDA margins could exceed 20%. The company noted that the first-quarter EBITDA margin will be lower, in the mid-teens, due to higher expenses early in the year, followed by significantly higher margins in the latter half of the year. Revenue growth is projected to be driven by new projects and increased adoption of product lines, such as Chemo Mouthpiece and advanced wound care initiatives, along with continued momentum in existing business lines.InfuSystem Holdings, Inc. Corporate Events
Executive/Board ChangesBusiness Operations and StrategyFinancial Disclosures
InfuSystem Holdings Announces CEO Transition in 2025
Neutral
Apr 1, 2025
On April 1, 2025, InfuSystem Holdings, Inc. announced the upcoming departure of CEO Richard A. DiIorio, effective May 19, 2025, with Carrie Lachance set to succeed him. Lachance, who has been with the company since 2010 and served in various leadership roles, is expected to lead the company into its next growth phase. The transition is part of a planned succession, with DiIorio remaining as an advisor during the transition. The company reaffirmed its 2025 financial guidance, projecting revenue growth of 8-10% and an adjusted EBITDA margin exceeding 18.8%, indicating continued confidence in its operational performance despite ongoing investments.
Financial Disclosures
InfuSystem Holdings to Announce 2024 Financial Results
Neutral
Feb 25, 2025
InfuSystem Holdings, Inc. announced it will release its preliminary fourth quarter and full year 2024 financial results on March 4, 2025. The company will hold an investor conference call on the same day to discuss these results, reflecting its ongoing commitment to transparency and stakeholder engagement.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.