Agilon Health, Inc. (NYSE: AGL)

Sector: Healthcare Industry: Medical Care Facilities CIK: 0001831097
Market Cap 291.59 Mn
P/B 0.95
P/E -0.95
P/S 0.05
ROIC (Qtr) -95.90
Div Yield % 0.00
Rev 1y % (Qtr) -1.08
Total Debt (Qtr) 34.97 Mn
Debt/Equity (Qtr) 0.11

About

Agilon Health, Inc. (AGL) is a company that is revolutionizing the healthcare industry by enabling primary care physicians to drive significant changes in quality, cost, and patient experience. The company operates in the healthcare sector and is dedicated to transforming the way healthcare is delivered. Agilon Health's primary business activities revolve around the development and implementation of a comprehensive value-based care model that empowers primary care physicians. The company's operations are built on three key elements: the agilon...

Read more

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 171.68M provide 4.91x coverage of short-term debt 34.97M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 1.50B provides 42.81x coverage of total debt 34.97M, indicating robust asset backing and low credit risk.
  • Robust tangible asset base of 1.50B provides 15.25x coverage of working capital 98.15M, indicating strong operational backing.
  • Cash reserves of 171.68M provide solid 3.41x coverage of other non-current liabilities 50.29M, indicating strong liquidity.
  • Short-term investments of 139.17M provide 3.98x coverage of short-term debt 34.97M, showing strong liquidity management.

Bear case

  • Operating cash flow of (68.81M) barely covers its investment activities of 89.70M, with a coverage ratio of -0.77, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • The company's operating cash flow of (68.81M) shows concerning coverage of stock compensation expenses of 41.88M, with a -1.64 ratio indicating potential earnings quality issues.
  • Free cash flow of (82.35M) provides weak coverage of capital expenditures of 13.54M, with a -6.08 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (300.07M) show weak coverage of depreciation charges of 28.12M, with a -10.67 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of (68.81M) provides minimal -40.86x coverage of tax expenses of 1.68M, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Peer comparison

Companies in the Medical Care Facilities
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 HCA HCA Healthcare, Inc. 114.88 Bn 18.11 1.54 46.35 Bn
2 THC Tenet Healthcare Corp 18.07 Bn 13.34 0.87 13.19 Bn
3 UHS Universal Health Services Inc 14.64 Bn 10.65 0.86 5.11 Bn
4 FMS Fresenius Medical Care AG 14.10 Bn 16.69 0.61 14.98 Bn
5 EHC Encompass Health Corp 12.55 Bn 19.95 2.17 2.66 Bn
6 ENSG Ensign Group, Inc 10.08 Bn 30.72 2.09 2.16 Bn
7 DVA Davita Inc. 8.90 Bn 11.53 0.67 12.78 Bn
8 CHE Chemed Corp 6.38 Bn 22.87 2.52 0.14 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.09 1.26
EV to Cash from Ops. EV/CFO -2.19 12.78
EV to Debt EV to Debt 4.32 12.10
EV to EBIT EV/EBIT -0.50 10.74
EV to EBITDA EV/EBITDA -0.43 16.04
EV to Free Cash Flow [EV/FCF] EV/FCF -1.83 18.02
EV to Market Cap EV to Market Cap 0.53 432.64
EV to Revenue EV/Rev 0.03 2.77
Price to Book Value [P/B] P/B 0.94 -1.92
Price to Earnings [P/E] P/E -0.93 5.13
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.10
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 -13.44
Dividend per Basic Share Div per Share (Qtr) 0.00 0.27
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 5.42
Interest Coverage Int. cover (Qtr) -46.17 -97.94
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 2.71 -114.65
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 11.64 65.22
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.97
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 20.22 -46.98
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -7.43 75.97
EBIT Growth (1y) % EBIT 1y % (Qtr) 20.67 -61.19
EBT Growth (1y) % EBT 1y % (Qtr) 20.34 -115.48
EPS Growth (1y) % EPS 1y % (Qtr) 20.43 -24.32
FCF Growth (1y) % FCF 1y % (Qtr) 44.84 309.51
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -107.85 17.88
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 3.69 1.04
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.04
Cash Ratio Cash Ratio (Qtr) 0.14 0.39
Current Ratio Curr Ratio (Qtr) 1.08 1.39
Debt to Equity Ratio Debt/Equity (Qtr) 0.11 -13.19
Interest Cover Ratio Int Coverage (Qtr) -46.17 -97.94
Times Interest Earned Times Interest Earned (Qtr) -46.17 -97.94
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -4.60 -95.81
EBIT Margin % EBIT Margin % (Qtr) -5.10 -94.97
EBT Margin % EBT Margin % (Qtr) -5.21 -105.60
Gross Margin % Gross Margin % (Qtr) -1.80 23.31
Net Profit Margin % Net Margin % (Qtr) -5.20 -106.14