Tearsheet

Chemed (CHE)

Market Price (12/24/2025): $432.65 | Market Cap: $6.2 Bil
Sector: Health Care | Industry: Health Care Services

Chemed (CHE)

Market Price (12/24/2025): $432.65
Market Cap: $6.2 Bil
Sector: Health Care
Industry: Health Care Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%	Weak multi-year price returns 2Y Excs Rtn is -71%, 3Y Excs Rtn is -92%	Key risks CHE key risks include [1] VITAS Healthcare's vulnerability to government reimbursement changes and billing compliance scrutiny, Show more.
1	Attractive yield FCF Yield is 5.8%
2	Low stock price volatility Vol 12M is 29%
3	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, and Water Infrastructure. Themes include Geriatric Care, and Wastewater Management.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%
1	Attractive yield FCF Yield is 5.8%
2	Low stock price volatility Vol 12M is 29%
3	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, and Water Infrastructure. Themes include Geriatric Care, and Wastewater Management.
4	Weak multi-year price returns 2Y Excs Rtn is -71%, 3Y Excs Rtn is -92%
5	Key risks CHE key risks include [1] VITAS Healthcare's vulnerability to government reimbursement changes and billing compliance scrutiny, Show more.

Valuation, Metrics & Events

	12/24/25	2024	2023	2022	2021
Share Price CYE	$432.65	$527.40	$580.26	$505.03	$521.44
Market Cap CYE ($ Bil)	6.2	7.8	8.8	7.5	8.0
Total Debt ($ Bil)	0.1	0.1	0.1	0.2	0.3
Total Cash ($ Bil)	0.1	0.2	0.3	0.1	0.0
Enterprise Value ($ Bil)	6.2	7.9	8.9	7.7	8.3
Valuation Ratios
P/S TTM	2.5	3.3	3.9	3.6	3.9
P/EBIT TTM	16.7	19.8	24.9	22.8	23.5
P/E TTM	22.3	26.4	32.3	30.5	30.9
P/FCF TTM	17.3	21.6	32.2	30.2	33.2
Sector Ratios
P/S TTM (Sector)	4.3	3.5	3.9	4.5	7.1
P/EBIT TTM (Sector)	-1.5	-1.3	-1.4	-1.3	-2.7
P/E TTM (Sector)	-1.7	-1.5	-1.5	-1.3	-2.8
P/FCF TTM (Sector)	-1.5	-1.4	-1.4	-1.5	-3.2

	12/24/25	2024	2023
Share Price CYE	$432.65	$527.40	$580.26
Market Cap CYE ($ Bil)	6.2	7.8	8.8
Total Debt ($ Bil)	0.1	0.1	0.1
Total Cash ($ Bil)	0.1	0.2	0.3
Enterprise Value ($ Bil)	6.2	7.9	8.9
Valuation Ratios
P/S TTM	2.5	3.3	3.9
P/EBIT TTM	16.7	19.8	24.9
P/E TTM	22.3	26.4	32.3
P/FCF TTM	17.3	21.6	32.2
Sector Ratios
P/S TTM (Sector)	4.3	3.5	3.9
P/EBIT TTM (Sector)	-1.5	-1.3	-1.4
P/E TTM (Sector)	-1.7	-1.5	-1.5
P/FCF TTM (Sector)	-1.5	-1.4	-1.4

	CHE	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	2.5
Rev Chg Q	3.1%	7.3%
Rev Chg LTM	6.5%	6.1%
Rev Chg 3Y Avg	5.9%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.4
CFO LTM ($ Bil)	0.4
Net Inc LTM ($ Bil)	0.3
Op Mgn LTM	13.9%	18.8%
CFO/Rev LTM	16.6%	20.4%
Net Inc Mgn	11.0%	13.1%
VALUATION	MODERATE
P/S	2.5	3.2
P/CFO	14.8	15.7
P/FCF	17.3	20.7
P/E	22.3	23.5
STABILITY	GOOD
Debt/Equity	0.02	0.21
Cash/Assets	0.08	0.07

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Metric	Value	Date	Source
VITAS Average Daily Census	22327	9302025	Link
VITAS Admissions	17714	9302025	Link
VITAS Average Revenue per Patient per Day	205.08	9302025	Link

Upcoming
2/25/2026	Earnings Release	Rev: - EPS: -
4/21/2026	Earnings Release	Rev: - EPS: -

CHE Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points explaining Chemed's stock movement from approximately August 31, 2025, to today:

1. Chemed Missed Q3 2025 Earnings Estimates The company reported third-quarter 2025 earnings per share (EPS) of $5.27, which fell short of the consensus estimate of $5.39 by $0.12. Quarterly revenue also missed analyst expectations, coming in at $624.90 million against an anticipated $626.04 million.

2. Decline in Adjusted EBITDA and Margins Across Segments Chemed experienced a decrease in profitability in its key segments. Adjusted EBITDA for its VITAS hospice care business (excluding Medicare Cap) declined by 3.8% compared to the prior year, with an adjusted EBITDA margin falling by 157 basis points to 17.0%. Similarly, the Roto-Rooter segment saw a 12.4% decrease in adjusted EBITDA and a 351 basis point decline in its adjusted EBITDA margin compared to the same period last year.

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Stock Movement Drivers

Fundamental Drivers

The -4.5% change in CHE stock from 9/23/2025 to 12/23/2025 was primarily driven by a -4.7% change in the company's Net Income Margin (%).

	9232025	12232025	Change
Stock Price ($)	453.27	432.66	-4.55%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2511.91	2530.63	0.75%
Net Income Margin (%)	11.56%	11.02%	-4.68%
P/E Multiple	22.78	22.34	-1.94%
Shares Outstanding (Mil)	14.59	14.39	1.35%
Cumulative Contribution			-4.57%

LTM = Last Twelve Months as of date shown

Market Drivers

9/23/2025 to 12/23/2025

	Return	Correlation
CHE	-4.5%
Market (SPY)	3.7%	15.6%
Sector (XLV)	13.2%	20.6%

Fundamental Drivers

The -22.2% change in CHE stock from 6/24/2025 to 12/23/2025 was primarily driven by a -15.1% change in the company's P/E Multiple.

	6242025	12232025	Change
Stock Price ($)	555.79	432.66	-22.15%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2489.00	2530.63	1.67%
Net Income Margin (%)	12.40%	11.02%	-11.18%
P/E Multiple	26.32	22.34	-15.14%
Shares Outstanding (Mil)	14.62	14.39	1.56%
Cumulative Contribution			-22.17%

LTM = Last Twelve Months as of date shown

Market Drivers

6/24/2025 to 12/23/2025

	Return	Correlation
CHE	-22.2%
Market (SPY)	13.7%	9.6%
Sector (XLV)	16.4%	23.2%

Fundamental Drivers

The -16.0% change in CHE stock from 12/23/2024 to 12/23/2025 was primarily driven by a -13.2% change in the company's Net Income Margin (%).

	12232024	12232025	Change
Stock Price ($)	515.09	432.66	-16.00%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2377.21	2530.63	6.45%
Net Income Margin (%)	12.69%	11.02%	-13.20%
P/E Multiple	25.65	22.34	-12.91%
Shares Outstanding (Mil)	15.03	14.39	4.20%
Cumulative Contribution			-16.15%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2024 to 12/23/2025

	Return	Correlation
CHE	-16.0%
Market (SPY)	16.7%	16.4%
Sector (XLV)	13.2%	32.7%

Fundamental Drivers

The -15.3% change in CHE stock from 12/24/2022 to 12/23/2025 was primarily driven by a -23.0% change in the company's P/E Multiple.

	12242022	12232025	Change
Stock Price ($)	510.71	432.66	-15.28%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2129.29	2530.63	18.85%
Net Income Margin (%)	12.31%	11.02%	-10.50%
P/E Multiple	29.01	22.34	-22.99%
Shares Outstanding (Mil)	14.89	14.39	3.32%
Cumulative Contribution			-15.38%

LTM = Last Twelve Months as of date shown

Market Drivers

12/24/2023 to 12/23/2025

	Return	Correlation
CHE	-26.5%
Market (SPY)	48.4%	19.7%
Sector (XLV)	18.2%	33.1%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CHE Return	22%	-0%	-3%	15%	-9%	-17%	1%
Peers Return	11%	20%	14%	27%	62%	31%	306%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	114%
Monthly Win Rates [3]
CHE Win Rate	58%	58%	42%	67%	58%	42%
Peers Win Rate	57%	52%	50%	60%	75%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
CHE Max Drawdown	-20%	-23%	-18%	-4%	-11%	-22%
Peers Max Drawdown	-42%	-15%	-19%	-11%	-5%	-21%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ADUS, EHC, FIX, EME, ABM. See CHE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)

How Low Can It Go

Unique Key	Event	CHE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-26.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	36.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	547 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-30.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	44.3%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	139 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-20.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	25.4%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	127 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-54.6%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	120.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	930 days	1,480 days

Compare to THC, WTS, NHC, CVS, CI

In The Past

Chemed's stock fell -26.7% during the 2022 Inflation Shock from a high on 1/25/2021. A -26.7% loss requires a 36.4% gain to breakeven.

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About Chemed (CHE)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in two segments, VITAS and Roto-Rooter. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees. The company was incorporated in 1970 and is headquartered in Cincinnati, Ohio.

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Here are 1-3 brief analogies to describe Chemed:

For its hospice division (VITAS): The HCA Healthcare of end-of-life care.
For its plumbing division (Roto-Rooter): The McDonald's of plumbing services.

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Hospice Care: Through its Vitas Healthcare segment, Chemed provides hospice and palliative care services to patients facing life-limiting illnesses.
Plumbing, Drain, and Water Cleanup Services: The Roto-Rooter segment offers a range of services including plumbing repair, drain cleaning, and water damage restoration for residential and commercial customers.

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Chemed Corporation (CHE) operates in two main business segments: VITAS Healthcare and Roto-Rooter. Based on these operations, Chemed primarily sells services directly to individuals and businesses, rather than selling to other companies that then resell Chemed's services.

Therefore, its major customers can be described by the following categories:

Patients with life-limiting illnesses: Through its VITAS Healthcare segment, Chemed provides hospice care services directly to individuals facing end-of-life conditions and their families. Medicare, Medicaid, and private insurance companies are the primary payers for these services, but the direct recipients and beneficiaries of the services are the individual patients.
Residential homeowners: Through its Roto-Rooter segment, Chemed provides plumbing, drain cleaning, and water cleanup services directly to individual homeowners for their residential properties.
Commercial businesses: Also through its Roto-Rooter segment, Chemed provides plumbing, drain cleaning, and water cleanup services directly to various commercial enterprises such as restaurants, retail stores, office buildings, and industrial facilities.

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Kevin J. McNamara, President and Chief Executive Officer

Mr. McNamara joined Chemed in 1980 as a corporate attorney. In 1981, he moved to Omnicare, Inc., then a 24%-owned affiliate of Chemed, serving as Secretary. He returned to Chemed in 1986, where he was named Vice President, General Counsel, and Secretary. From 1990 to 1992, he also held the positions of Executive Vice President and Chief Operating Officer at Omnicare. He was elected Vice Chairman of Chemed in 1992, and subsequently Executive Vice President, Secretary, and General Counsel in 1993. Mr. McNamara became President in 1994 and assumed the role of Chief Executive Officer in 2001. Since February 2004, he has also served as Chairman of Chemed's VITAS Healthcare Corporation subsidiary.

Michael D. Witzeman, Vice President, Chief Financial Officer, and Controller

Mr. Witzeman has served as the Chief Financial Officer, Vice President, and Controller of Chemed since January 2024. Prior to this role, he was the Vice President and Controller of the company. Before his tenure at Chemed, he worked as a Senior Manager of Assurance at Deloitte & Touche LLP.

Nicholas M. Westfall, Executive Vice President

Mr. Westfall is the Executive Vice President of Chemed Corporation and also serves as the Chief Executive Officer of VITAS Healthcare Corporation. He joined Chemed in 2009 as Director of Information Technology and Operations. In 2012, he moved to VITAS as Senior Vice President of Field Operations, progressing to Chief Operating Officer in 2015. In June 2016, he was elected Executive Vice President of Chemed and simultaneously promoted to Chief Executive Officer of VITAS.

Spencer S. Lee, Executive Vice President

Mr. Lee holds the title of Executive Vice President at Chemed Corporation.

Brian C. Judkins, Vice President, Secretary and Chief Legal Officer

Mr. Judkins was promoted to Secretary and Chief Legal Officer in August 2020. He began his career at Chemed in January 2019 as Vice President and Counsel. Prior to joining Chemed, Mr. Judkins was a partner at Dinsmore & Shohl, LLP, where he specialized in corporate and mergers and acquisitions (M&A) practice.

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Chemed Corporation (CHE) faces several key risks to its business, primarily stemming from its two main segments: VITAS Healthcare and Roto-Rooter. The most significant risks include:

Regulatory and Reimbursement Risks for VITAS Healthcare: Chemed's VITAS Healthcare subsidiary, which derives over 90% of its revenue from Medicare and Medicaid, is highly susceptible to changes in government regulations and reimbursement policies. Key concerns include periodic changes in reimbursement levels, difficulties in predicting patient length of stay, and estimating Medicare reimbursement obligations. For instance, VITAS has grappled with Medicare Cap limitations, particularly in Florida, which have led to projected revenue shortfalls and threatened near-term profitability. The company also faces ongoing scrutiny regarding compliance with Medicare and Medicaid billing requirements, evidenced by past False Claims Act allegations.
Labor Shortages: Both of Chemed's segments are vulnerable to labor shortages. VITAS Healthcare faces a persistent shortage of qualified nurses and other healthcare professionals, which can impact its ability to provide services and manage costs. Similarly, the Roto-Rooter segment experiences a shortage of licensed plumbing and drain cleaning technicians. These shortages can lead to increased labor costs and operational challenges across the company.
Operational Challenges and Competitive Pressures in Roto-Rooter: The Roto-Rooter segment has experienced recent revenue declines, particularly in its commercial and residential services, and decreased residential demand. This segment operates in a highly competitive and fragmented market, with competition from numerous local and regional firms. Additionally, Roto-Rooter has faced increased variable expenses, impacting its gross margin. Macroeconomic headwinds, such as inflationary trends, increased logistics costs, and higher employee-related expenses, further contribute to the operational challenges faced by this segment.

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The emergence and increasing adoption of online platforms and gig economy models for home services, which connect consumers directly with independent plumbers and local service providers, poses an emerging threat to Chemed's Roto-Rooter segment. These platforms, such as Angi (formerly Angie's List and HomeAdvisor), Thumbtack, and various local equivalents, facilitate price comparison, increase transparency, and offer a wider range of choices for consumers. This model directly challenges Roto-Rooter's traditional brand-driven customer acquisition and service delivery, potentially leading to increased competition, pressure on pricing, and market share erosion, particularly for non-emergency or routine services. This parallels the historical disruption of traditional taxicab businesses by platforms like Uber.

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Chemed Corporation (symbol: CHE) operates primarily through two wholly-owned subsidiaries: VITAS Healthcare and Roto-Rooter, both predominantly serving the U.S. market.

VITAS Healthcare

VITAS Healthcare is the largest provider of end-of-life hospice care services in the United States. The addressable market for VITAS Healthcare's services, the U.S. palliative and hospice care industry, was valued at more than $28.6 billion as of June 2020.

Roto-Rooter

Roto-Rooter is recognized as the largest provider of plumbing repair and sewer/drain cleaning services in North America. The broader U.S. Home Service Market, which includes plumbing services, is estimated to reach approximately $0.87 trillion in 2025 and is projected to grow to $1.42 trillion by 2030.

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Chemed Corporation (CHE) is expected to drive future revenue growth over the next two to three years through several key initiatives across its two primary segments, VITAS Healthcare and Roto-Rooter.

Strategic Acquisitions and Geographic Expansion for VITAS Healthcare: VITAS Healthcare is actively pursuing acquisitions and expanding its geographic footprint. The company made a significant return to the M&A market with the acquisition of Covenant Health in 2024, which has been outperforming expectations and contributing to revenue growth. VITAS is actively seeking new targets in at least 12 states where it currently does not operate, with a particular focus on Certificate of Need (CON) states. Additionally, VITAS is expanding its presence within existing states, such as opening new operations in Marion County, Florida, following CON approval.
Organic Growth in VITAS Healthcare through Increased Admissions and Average Daily Census (ADC): VITAS has demonstrated consistent organic growth, marked by sequential quarters of increased average daily census (ADC) and admissions. This growth is being fueled by an increase in clinical capacity, achieved through successful recruitment and retention strategies, including temporary bonus programs and community awareness initiatives. Furthermore, VITAS is focusing on expanding hospital-based admissions as a strategic initiative to navigate Medicare Cap limitations and support sustainable long-term growth. Medicare reimbursement rate increases, such as the 3.2% increase in Q1 2025, a 4.2% increase in Q2 2025, and a 4.1% increase in Q3 2025, also contribute to VITAS's revenue growth.
Expansion of Roto-Rooter's Commercial Business and Service Offerings: Roto-Rooter anticipates continued revenue growth from its commercial segment, particularly in excavation and water restoration services. The company reported a significant 7.3% increase in commercial revenue in Q1 2025, driven by a 38% rise in excavation and a 14% increase in water restoration. Roto-Rooter is also refining its pricing models for large commercial excavation projects to optimize revenue growth while balancing EBITDA margins.
Roto-Rooter's Enhanced Market Share through Brand Awareness and Operational Efficiency: Management believes Roto-Rooter is well-positioned to expand its market share by leveraging its strong brand awareness, quick customer response times, and 24/7 call centers and internet presence. The company is also implementing e-marketing initiatives to reach younger audiences across various social media platforms, contributing to increased brand visibility and customer acquisition.

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Share Repurchases

Chemed's Board of Directors authorized an additional $300 million for stock repurchase under its existing program on August 1, 2025.
Another $300 million was authorized for stock repurchase on November 8, 2024.
In the third quarter of 2025, the company repurchased 407,500 shares for $180.8 million, with approximately $301.8 million of authorization remaining as of September 30, 2025.

Share Issuance

No significant share issuances (dollar amount) were explicitly detailed in the provided information for the last 3-5 years.

Outbound Investments

In April 2024, VITAS Healthcare acquired Covenant Health's hospice assets for $85.0 million, contributing to revenue in Q1 2025.
During 2024, Roto-Rooter acquired three franchises: one in New Jersey for $5.8 million, one in Texas for $1.5 million, and one in Kentucky for $5.1 million, all paid in cash.

Capital Expenditures

Capital expenditures for the last 12 months (as of current time, November 2025) were reported as -$59.21 million.
In the first quarter of 2025, Chemed spent $13.3 million on capital expenditures, supporting long-term growth.
For the full year 2024, capital expenditures amounted to -$50 million. The forecast low consensus for the upcoming fiscal year is $61 million.

Better Bets than Chemed (CHE)

INDUSTRY: Health Care Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for CHE: 5.9% | 2.5x)

CVS (7.7% | 0.3x)

CVS Health

CI (13.6% | 0.3x)

Cigna

LH (8.6% | 1.5x)

Labcorp

BTSG (24.3% | 0.6x)

BrightSpring Health Services

PRVA (17.4% | 1.4x)

Privia Health

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CHE: 5.9% | 17.7x)

CVS (7.7% | 9.2x)

CVS Health

LH (8.6% | 15.4x)

Labcorp

ADUS (13.3% | 16.2x)

Addus HomeCare

Higher Rev Chg LTM (Value for CHE: 6.5%)

HIMS (78.0%)

Hims & Hers Health

CI (20.9%)

Cigna

DGX (13.7%)

Quest Diagnostics

LH (8.3%)

Labcorp

CVS (6.8%)

CVS Health

Higher Rev Chg 3Y Avg (Value for CHE: 5.9%)

HIMS (71.0%)

Hims & Hers Health

BTSG (24.3%)

BrightSpring Health Services

CI (13.6%)

Cigna

LH (8.6%)

Labcorp

CVS (7.7%)

CVS Health

Higher Op Mgn LTM (Value for CHE: 13.9%)

SHC (29.9%)

Sotera Health

CON (15.5%)

Concentra Parent

DVA (14.6%)

DaVita

CRVL (14.5%)

CorVel

DGX (14.1%)

Quest Diagnostics

Higher CFO/Rev LTM (Value for CHE: 16.6%)

PINC (34.8%)

Premier

VCYT (21.9%)

Veracyte

SHC (20.8%)

Sotera Health

DGX (17.4%)

Quest Diagnostics

Higher FCF/Rev LTM (Value for CHE: 14.2%)

PINC (26.4%)

Premier

VCYT (19.8%)

Veracyte

PGNY (15.2%)

Progyny

Higher Total Yield (Value for CHE: 4.8%)

DVA (9.3%)

DaVita

CI (9.1%)

Cigna

DGX (6.7%)

Quest Diagnostics

CON (6.7%)

Concentra Parent

LH (5.2%)

Labcorp

SECTOR: Health Care

Higher Rev Chg 3Y Avg | Lower P/S (Values for CHE: 5.9% | 2.5x)

UNH (11.4% | 0.7x)

UnitedHealth

HCA (6.6% | 1.6x)

HCA Healthcare

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

ELV (8.4% | 0.4x)

Elevance Health

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CHE: 5.9% | 17.7x)

UNH (11.4% | 11.2x)

UnitedHealth

HCA (6.6% | 10.2x)

HCA Healthcare

CVS (7.7% | 9.2x)

CVS Health

COR (10.4% | 16.8x)

Cencora

UTHR (19.0% | 14.7x)

United Therapeutics

Higher Rev Chg LTM (Value for CHE: 6.5%)

LLY (36.8%)

Eli Lilly

ISRG (22.2%)

Intuitive Surgical

AMGN (10.6%)

Amgen

UNH (10.5%)

UnitedHealth

ABBV (7.4%)

AbbVie

Higher Rev Chg 3Y Avg (Value for CHE: 5.9%)

LLY (23.4%)

Eli Lilly

ISRG (16.3%)

Intuitive Surgical

UNH (11.4%)

UnitedHealth

AMGN (11.2%)

Amgen

JNJ (6.1%)

Johnson & Johnson

Higher Op Mgn LTM (Value for CHE: 13.9%)

LLY (43.0%)

Eli Lilly

MRK (34.9%)

Merck

JNJ (26.2%)

Johnson & Johnson

ABBV (24.1%)

AbbVie

TMO (18.4%)

Thermo Fisher Scientific

Higher CFO/Rev LTM (Value for CHE: 16.6%)

ABBV (35.0%)

AbbVie

MRK (26.6%)

Merck

JNJ (26.3%)

Johnson & Johnson

LLY (20.5%)

Eli Lilly

TMO (17.5%)

Thermo Fisher Scientific

Higher FCF/Rev LTM (Value for CHE: 14.2%)

ABBV (33.0%)

AbbVie

ISRG (23.6%)

Intuitive Surgical

MRK (20.3%)

Merck

JNJ (20.3%)

Johnson & Johnson

ABT (15.8%)

Abbott Laboratories

Higher Total Yield (Value for CHE: 4.8%)

MRK (10.4%)

Merck

UNH (8.6%)

UnitedHealth

ABT (8.3%)

Abbott Laboratories

JNJ (7.5%)

Johnson & Johnson

AMGN (6.8%)

Amgen

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CHE: 5.9% | 2.5x)

COST (6.7% | 1.4x)

Costco Wholesale

BA (10.1% | 2.0x)

Boeing

PGR (20.6% | 1.6x)

Progressive

CB (12.2% | 2.1x)

Chubb

ENB (8.6% | 1.6x)

Enbridge

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CHE: 5.9% | 17.7x)

V (10.9% | 17.2x)

Visa

PM (8.0% | 17.0x)

Philip Morris International

NEM (23.9% | 12.3x)

Newmont

ENB (8.6% | 9.2x)

Enbridge

GD (9.9% | 17.4x)

General Dynamics

Higher Rev Chg LTM (Value for CHE: 6.5%)

NVDA (65.2%)

NVIDIA

META (21.3%)

Meta Platforms

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

Higher Rev Chg 3Y Avg (Value for CHE: 5.9%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

Higher Op Mgn LTM (Value for CHE: 13.9%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for CHE: 16.6%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for CHE: 14.2%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for CHE: 4.8%)

XOM (9.2%)

Exxon Mobil

BAC (7.1%)

Bank of America

JPM (6.4%)

JPMorgan Chase

BRK-B (6.2%)

Berkshire Hathaway

V (5.1%)

Visa

		Best Bets In Health Care Sector
	CHE	RPRX	HALO	DOCS	CPRX	HRMY	LGND	ISRG	GMED	MD	HIMS
What You Pay
P/E	22.3	22.2	13.5	32.3	13.7	11.9	79.5	74.9	28.2	11.2	58.9
P/EBIT	16.7	10.8	10.5	33.1	11.5	9.0	57.9	73.1	27.5	7.5	68.5
What You Get
Rev Chg Q	3.1%	7.9%	22.1%	23.2%	15.3%	28.7%	122.8%	22.9%	22.9%	-3.6%	49.2%
Rev Chg LTM	6.5%	3.7%	31.2%	20.2%	25.6%	21.1%	64.8%	22.2%	11.7%	-4.2%	78.0%
Rev Chg 3Y Avg	5.9%	1.5%	29.0%	17.4%	46.5%	27.4%	16.0%	16.3%	45.6%	-0.5%	71.0%
FCF/Rev 3Y Avg	13.0%	115.2%	45.0%	42.7%	34.2%	33.2%	23.9%	16.5%	14.3%	8.9%	6.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.9%, and sharpe of 0.52

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Chemed Earnings Notes
2	Chemed Earnings Notes
3	How Low Can Chemed Stock Really Go?	Return
4	Chemed vs United Therapeutics: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	If You Like Cash Flow Machines Take A Look At CHE	Actionable
6	Better Bet Than CHE Stock: Pay Less Than Chemed To Get More From SO, OKE
7	Better Bet Than CHE Stock: Pay Less Than Chemed To Get More From UTHR, EHC
8	Chemed Total Shareholder Return (TSR): -9.1% in 2024 and 0.4% 3-yr compounded annual returns (below peer average)
9	Chemed (CHE) Operating Cash Flow Comparison	Financials
10	Chemed (CHE) Net Income Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to CHE. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CRL_11142025_Dip_Buyer_FCFYield	11142025	CRL	Charles River Laboratories International	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	20.9%	20.9%	-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11142025	GDRX	GoodRx	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-7.4%	-7.4%	-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	ASTH	Astrana Health	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	13.5%	13.5%	-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	SGRY	Surgery Partners	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	1.6%	1.6%	-1.4%
TFX_11072025_Dip_Buyer_FCFYield	11072025	TFX	Teleflex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	11.8%	11.8%	-5.1%
CHE_2292020_Quality_Momentum_RoomToRun_10%	02292020	CHE	Chemed	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	22.5%	6.9%	-15.8%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
RZLT	Rezolute	0.3	18.0%	-50.6%
WW	WW International	2.4	14.2%
NRGV	Energy Vault	0.8	10.4%	122.8%
METC	Ramaco Resources	1.0	8.5%	67.0%
UAMY	United States Antimony	0.7	7.9%	240.7%
LION	Lionsgate Studios	2.6	7.4%	-71.0%
GHM	Graham	0.8	7.3%	56.3%
VG	Venture Global	17.0	6.4%
CRK	Comstock Resources	6.7	5.7%	26.6%
SSII	SS Innovations International	1.1	5.5%	-25.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	6.8	-67.3%	-18.9%
GOSS	Gossamer Bio	0.7	-12.9%	263.1%
CSIQ	Canadian Solar	1.6	-11.8%	115.2%
TDUP	ThredUp	0.8	-11.7%	363.3%
LAB	Standard BioTools	0.6	-11.0%	-14.6%
INBX	Inhibrx Biosciences	1.2	-10.8%	407.0%
QBTS	D-Wave Quantum	10.0	-9.5%	246.7%
FDMT	4D Molecular Therapeutics	0.4	-9.3%	41.8%
FBYD	Falcons Beyond Global	0.6	-8.5%	109.8%
PVLA	Palvella Therapeutics	1.1	-8.1%	735.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	1.9	53.2%	-9.1%
HUT	Hut 8	5.5	42.4%	156.1%
AAOI	Applied Optoelectronics	2.6	40.3%	10.3%
FBYD	Falcons Beyond Global	0.6	39.8%	109.8%
RKLB	Rocket Lab	39.8	39.1%	203.0%
DJT	Trump Media & Technology	3.9	31.9%	-58.5%
SGML	Sigma Lithium	1.5	31.9%	20.2%
ADEA	Adeia	1.9	31.0%	23.9%
TE	T1 Energy	1.1	30.7%
FOLD	Amicus Therapeutics	4.4	30.5%	50.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.0	-80.2%	-27.2%
TPL	Texas Pacific Land	6.8	-63.8%	-18.9%
FDMT	4D Molecular Therapeutics	0.4	-31.4%	41.8%
LW	Lamb Weston	5.9	-30.1%	-35.8%
TLRY	Tilray Brands	11.2	-24.5%	-20.8%
OLMA	Olema Pharmaceuticals	2.4	-19.3%	374.6%
INSP	Inspire Medical Systems	2.8	-17.8%	-48.8%
GETY	Getty Images	0.5	-17.6%	-41.7%
TDUP	ThredUp	0.8	-16.4%	363.3%
FRMI	Fermi	5.8	-15.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	161.4%
WVE	WAVE Life Sciences	2.9	147.9%	41.3%
AAOI	Applied Optoelectronics	2.6	97.5%	10.3%
LUNR	Intuitive Machines	1.9	91.5%	-9.1%
RKLB	Rocket Lab	39.8	91.5%	203.0%
VERA	Vera Therapeutics	3.4	89.4%	27.5%
PL	Planet Labs PBC	6.3	85.8%	413.1%
ANF	Abercrombie & Fitch	5.9	77.2%	-17.2%
ARWR	Arrowhead Pharmaceuticals	9.7	72.6%	271.4%
NRGV	Energy Vault	0.8	68.8%	122.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-75.4%	-50.6%
JANX	Janux Therapeutics	0.9	-51.0%	-73.6%
LENZ	LENZ Therapeutics	0.5	-42.9%	-41.5%
FRMI	Fermi	5.8	-42.5%
GOGO	Gogo	0.6	-35.0%	-43.3%
HPK	HighPeak Energy	0.5	-29.7%	-70.1%
UP	Wheels Up Experience	0.4	-29.2%	-61.8%
ORIC	ORIC Pharmaceuticals	0.6	-28.8%	2.5%
LW	Lamb Weston	5.9	-27.5%	-35.8%
ACLX	Arcellx	3.7	-27.4%	-14.6%

Peer Comparisons for Chemed

Peers to compare with:

Financials

	CHE	ADUS	EHC	FIX	EME	ABM	Median
Name	Chemed	Addus Ho.	Encompas.	Comfort .	EMCOR	ABM Indu.
Mkt Price	432.66	110.64	107.23	965.37	625.69	41.75	271.65
Mkt Cap	6.2	2.0	10.8	34.1	28.0	2.6	8.5
Rev LTM	2,531	1,347	5,796	8,323	16,243	8,746	7,059
Op Inc LTM	352	123	1,002	1,112	1,528	325	677
FCF LTM	360	96	403	799	1,149	155	382
FCF 3Y Avg	311	107	304	677	1,033	171	308
CFO LTM	420	103	1,108	928	1,247	234	674
CFO 3Y Avg	368	115	952	779	1,115	235	574

Growth & Margins

	CHE	ADUS	EHC	FIX	EME	ABM	Median
Name	Chemed	Addus Ho.	Encompas.	Comfort .	EMCOR	ABM Indu.
Rev Chg LTM	6.5%	18.8%	11.1%	27.7%	14.1%	4.6%	12.6%
Rev Chg 3Y Avg	5.9%	13.3%	10.9%	29.0%	14.7%	3.9%	12.1%
Rev Chg Q	3.1%	25.0%	9.4%	35.2%	16.4%	5.4%	12.9%
QoQ Delta Rev Chg LTM	0.7%	5.7%	2.2%	8.3%	3.9%	1.4%	3.0%
Op Mgn LTM	13.9%	9.2%	17.3%	13.4%	9.4%	3.7%	11.4%
Op Mgn 3Y Avg	14.5%	8.8%	16.1%	10.3%	8.2%	3.8%	9.5%
QoQ Delta Op Mgn LTM	-0.8%	0.0%	0.2%	1.2%	-0.1%	0.7%	0.1%
CFO/Rev LTM	16.6%	7.7%	19.1%	11.2%	7.7%	2.7%	9.4%
CFO/Rev 3Y Avg	15.4%	10.0%	18.1%	11.9%	7.8%	2.8%	10.9%
FCF/Rev LTM	14.2%	7.2%	6.9%	9.6%	7.1%	1.8%	7.1%
FCF/Rev 3Y Avg	13.0%	9.2%	5.8%	10.3%	7.2%	2.0%	8.2%

Valuation

	CHE	ADUS	EHC	FIX	EME	ABM	Median
Name	Chemed	Addus Ho.	Encompas.	Comfort .	EMCOR	ABM Indu.
Mkt Cap	6.2	2.0	10.8	34.1	28.0	2.6	8.5
P/S	2.5	1.5	1.9	4.1	1.7	0.3	1.8
P/EBIT	16.7	15.8	10.5	31.9	17.9	8.1	16.3
P/E	22.3	23.3	19.9	40.7	24.8	15.8	22.8
P/CFO	14.8	19.4	9.7	36.7	22.5	10.9	17.1
Total Yield	4.8%	4.3%	5.7%	2.6%	4.2%	8.9%	4.6%
Dividend Yield	0.4%	0.0%	0.6%	0.2%	0.2%	2.6%	0.3%
FCF Yield 3Y Avg	4.1%	5.6%	3.2%	5.4%	5.7%	5.9%	5.5%
D/E	0.0	0.1	0.2	0.0	0.0	0.7	0.1
Net D/E	0.0	0.1	0.2	-0.0	-0.0	0.6	0.0

Returns

	CHE	ADUS	EHC	FIX	EME	ABM	Median
Name	Chemed	Addus Ho.	Encompas.	Comfort .	EMCOR	ABM Indu.
1M Rtn	-2.1%	-1.8%	-6.2%	8.0%	7.6%	-1.1%	-1.4%
3M Rtn	-4.5%	-3.5%	-15.3%	20.1%	-2.9%	-7.3%	-4.0%
6M Rtn	-22.2%	-3.0%	-11.1%	88.3%	25.1%	-6.3%	-4.6%
12M Rtn	-16.0%	-14.1%	14.6%	122.7%	35.3%	-15.3%	0.2%
3Y Rtn	-15.3%	9.6%	85.2%	726.6%	321.2%	0.7%	47.4%
1M Excs Rtn	-6.7%	-6.5%	-10.9%	3.3%	2.9%	-5.7%	-6.1%
3M Excs Rtn	-9.3%	-9.4%	-18.9%	18.0%	-4.2%	-11.3%	-9.3%
6M Excs Rtn	-34.9%	-15.9%	-24.3%	77.0%	11.2%	-18.4%	-17.2%
12M Excs Rtn	-34.5%	-32.4%	-2.8%	104.8%	17.3%	-34.3%	-17.6%
3Y Excs Rtn	-92.4%	-71.5%	11.1%	662.8%	246.6%	-78.2%	-30.2%

Comparison Analyses

	Title
0	WTS or CHE - With 22% Return Forecast, CHE Probably Deserves Your Money
1	With 23% Gains On The Table, CHE May Outshine AMED
2	CHE Could Deliver 23% Returns And Outperform THC
3	Chemed vs. Ansys: Similar Revenue, But Ansys Is A Better Bet
4	Chemed vs. MSCI: Similar Revenue, But MSCI Is A Better Bet
5	Chemed vs. Veeva Systems: Similar Revenue, But Veeva Systems Is A Better Bet
6	Chemed vs. Jazz Pharmaceuticals: Similar Market Cap, But Jazz Pharmaceuticals Is A Better Bet
7	Chemed vs. Coupa Software: Similar Market Cap, But Coupa Software Is A Better Bet
8	Chemed vs. Synaptics: Similar Market Cap, But Chemed Is A Better Bet
9	Chemed vs Cimarex Energy Co: Similar Market Cap; Which Stock Is A Better Bet?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/31/2025	2/28/2025	2/29/2024	2/27/2023	2/28/2022	2/26/2021	2/26/2020
Key Financials
Total Revenue	2,531	2,431	2,264	2,135	2,139	2,080	1,939
EBITDA	437	464	414	393	411	455	311
Operating Income	352	367	343	347	344	390	267
Net Income	279	302	273	250	269	319	220
EPS	19.05	20.10	18.11	16.72	17.14	20.02	13.77
Growth Rates
Total Revenue Growth	6.5%	7.4%	6.1%	-0.2%	2.9%	7.3%	8.7%
EBITDA Growth	-5.0%	12.1%	5.3%	-4.3%	-9.6%	46.1%	9.8%
Operating Income Growth	-3.9%	7.0%	-1.3%	0.9%	-11.7%	46.2%	8.8%
Net Income Growth	-7.6%	10.8%	9.2%	-7.0%	-15.9%	45.3%	7.0%
Margins
EBITDA Margin	17.2%	19.1%	18.3%	18.4%	19.2%	21.9%	16.1%
Operating Income Margin	13.9%	15.1%	15.1%	16.3%	16.1%	18.7%	13.7%
Net Income Margin	11.0%	12.4%	12.0%	11.7%	12.6%	15.4%	11.3%
Cash & Debt
Total Cash	130	178	264	74	33	163	6
Total Debt	141	141	139	247	324	135	216
Net Debt / (Cash)	12	-38	-125	173	291	-27	210
Cash Flows
Net Cash from Operations	420	417	330	310	309	489	301
Free Cash from Operations	360	368	273	253	250	430	248
Returns to Shareholders
Dividends	31	27	24	22	22	21	20
Share Repurchases	466	361	68	115	576	176	93

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/31/2025	7/31/2025	4/28/2025	2/28/2025	11/1/2024	7/26/2024	4/29/2024	2/29/2024	10/27/2023	7/28/2023	4/28/2023	2/27/2023
Key Financials Quarterly
Total Revenue	625	619	647	640	606	596	589	586	565	554	560	547
Ebitda	100	88	112	136	117	110	101	131	109	86	88	99
Operating Income	75	68	95	114	92	88	72	114	87	70	73	85
Net Income	64	52	72	90	76	71	65	90	75	53	54	62
EPS	4.46	3.60	4.91	6.08	5.04	4.70	4.30	5.96	4.97	3.54	3.62	4.17
Key Financials TTM
Total Revenue TTM	2,531	2,512	2,489	2,431	2,377	2,336	2,293	2,264	2,225	2,187	2,165	2,135
Ebitda TTM	437	453	476	464	459	451	428	414	381	365	381	393
Operating Income TTM	352	369	389	367	366	361	342	343	314	308	331	347
Net Income TTM	279	290	309	302	302	301	283	273	245	226	240	250
Growth Rates Quarterly
Total Revenue Growth	3.1%	3.8%	9.8%	9.2%	7.4%	7.6%	5.2%	7.2%	7.2%	4.2%	5.6%	1.0%
EBITDA Growth	-14.4%	-20.1%	11.2%	3.8%	7.4%	27.5%	15.1%	33.3%	18.0%	-15.6%	-12.6%	-11.2%
Operating Income Growth	-18.9%	-22.7%	31.0%	0.6%	6.1%	26.8%	-0.7%	33.7%	7.4%	-24.4%	-18.5%	-14.1%
Net Income Growth	-15.2%	-25.9%	10.4%	0.3%	1.1%	32.8%	20.1%	45.0%	31.8%	-19.7%	-15.7%	-16.7%
Margins Quarterly
EBITDA Margin	16.0%	14.2%	17.3%	21.3%	19.3%	18.5%	17.1%	22.4%	19.3%	15.6%	15.6%	18.0%
Operating Income Margin	12.0%	11.0%	14.6%	17.9%	15.2%	14.8%	12.3%	19.4%	15.4%	12.6%	13.0%	15.6%
Net Income Margin	10.3%	8.5%	11.1%	14.1%	12.5%	11.9%	11.0%	15.4%	13.3%	9.6%	9.7%	11.4%
Cash & Debt
Total Cash	130	250	174	178	238	223	313	264	173	160	58	74
Total Debt	141	146	145	141	148	146	146	139	137	141	166	247
Net Debt / (Cash)	12	-104	-29	-38	-91	-77	-167	-125	-36	-19	108	173
Cash Flows Quarterly
FCF from Operations	83	139	33	165	91	78	85	109	29	132	60	100
Cash Flows TTM
FCF from Operations TTM	420	427	366	417	361	300	354	330	322	345	269	310
Returns to Shareholders Quarterly
Dividends	9	7	7	7	7	6	6	6	6	6	6	6
Share Repurchases	181	43	33	209	58	56	38	40	14	13	-0	13
Return on Invested Capital (ROIC) Quarterly
ROIC	1961.3%	-	-	-	-	-	-	-	-	-	205.7%	148.3%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2259.5%	-	-	-	-	-	-	-	-	-	232.6%	152.1%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
VITAS	1,315	1,202	1,261	1,335	1,281
Roto-Rooter	949	933	878	745	657
Corporate	0	0
Total	2,264	2,135	2,139	2,080	1,939

Operating Income by Segment

$ Mil	2024	2022	2021
Roto-Rooter	227	211	151
VITAS	184	196	295
Corporate	-70	-64	-57
Total	341	343	390

Net Income by Segment

$ Mil	2024	2023	2022	2021	2020
Roto-Rooter	188	186	166	120	104
VITAS	159	131	162	239	156
Corporate	-74	-68	-60	-40	-40
Total	273	250	269	319	220

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
VITAS	779	750	693	672	663
Roto-Rooter	523	512	513	499	507
Corporate	366	179	136	264	97
Total	1,668	1,442	1,343	1,435	1,268

Price Behavior

Price Behavior

Market Price	$432.66
Market Cap ($ Bil)	6.2
First Trading Date	05/03/1973
Distance from 52W High	-29.9%
	50 Days	200 Days
DMA Price	$435.31	$494.18
DMA Trend	down	down
Distance from DMA	-0.6%	-12.4%
	3M	1YR
Volatility	25.0%	29.5%
Downside Capture	57.70	39.41
Upside Capture	25.37	16.18
Correlation (SPY)	16.2%	16.3%

CHE Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.31	0.32	0.27	0.36	0.25	0.33
Up Beta	0.03	-0.45	0.10	0.78	0.34	0.41
Down Beta	-1.11	0.07	0.26	-0.17	0.05	0.09
Up Capture	32%	49%	14%	-2%	9%	10%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	19	29	61	131	394
Down Capture	72%	70%	45%	97%	57%	74%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	22	33	64	117	356

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of CHE With Other Asset Classes (Last 1Y)
	CHE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-16.2%	14.9%	18.8%	72.9%	9.0%	3.7%	-11.4%
Annualized Volatility	29.4%	17.3%	19.5%	19.2%	15.3%	17.2%	35.0%
Sharpe Ratio	-0.59	0.64	0.76	2.72	0.36	0.05	-0.14
Correlation With Other Assets		32.2%	16.3%	-1.5%	-3.1%	34.2%	2.9%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of CHE With Other Asset Classes (Last 5Y)
	CHE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.4%	8.4%	14.8%	18.9%	11.8%	4.7%	35.5%
Annualized Volatility	24.1%	14.5%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	-0.12	0.40	0.70	0.98	0.51	0.16	0.62
Correlation With Other Assets		40.9%	30.4%	1.0%	-1.3%	33.4%	11.8%

Based On 10-Year Data

		Comparison of CHE With Other Asset Classes (Last 10Y)
	CHE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	11.4%	9.9%	14.8%	15.1%	6.8%	5.4%	69.1%
Annualized Volatility	25.4%	16.6%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.45	0.49	0.71	0.85	0.31	0.23	0.90
Correlation With Other Assets		52.7%	47.6%	-1.0%	11.7%	41.3%	12.7%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	675,301
Short Interest: % Change Since 11152025	-1.2%
Average Daily Volume	131,745
Days-to-Cover Short Interest	5.13
Basic Shares Quantity	14,394,000
Short % of Basic Shares	4.7%

Returns Analyses

	Title
0	How Low Can Chemed Stock Really Go?
1	Chemed Stock Return Comparison
2	Chemed Total Shareholder Return (TSR): -3.2% in 2022 and 5.4% 3-yr returns (above peer average)
3	Chemed (CHE) Stock Return: AI Predicts CHE Average and Excess Return After a Fall or Rise

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/28/2025	6.1%	0.0%	0.7%
7/29/2025	-10.4%	-7.9%	-1.9%
2/26/2025	7.4%	9.1%	12.2%
10/29/2024	-12.1%	-12.6%	-6.2%
7/24/2024	-1.2%	4.1%	4.5%
2/27/2024	5.4%	6.7%	8.0%
10/25/2023	9.3%	13.6%	14.5%
7/26/2023	-8.1%	-7.7%	-11.7%
...
SUMMARY STATS
# Positive	11	11	12
# Negative	8	8	7
Median Positive	4.8%	5.0%	5.0%
Median Negative	-6.4%	-7.8%	-6.2%
Max Positive	9.3%	13.6%	14.5%
Max Negative	-12.1%	-12.6%	-26.1%

	Forward Returns
10/28/2025	6.1%	0.0%	0.7%
7/29/2025	-10.4%	-7.9%	-1.9%
2/26/2025	7.4%	9.1%	12.2%
10/29/2024	-12.1%	-12.6%	-6.2%
7/24/2024	-1.2%	4.1%	4.5%
2/27/2024	5.4%	6.7%	8.0%
10/25/2023	9.3%	13.6%	14.5%
7/26/2023	-8.1%	-7.7%	-11.7%
2/23/2023	3.7%	2.7%	2.3%
10/31/2022	2.2%	3.7%	11.6%
7/27/2022	-7.9%	-9.2%	-7.9%
2/24/2022	4.8%	5.0%	3.6%
10/28/2021	7.9%	9.0%	5.4%
7/27/2021	-4.8%	-1.1%	-3.0%
2/23/2021	-1.6%	-8.1%	-4.1%
10/29/2020	1.0%	6.6%	1.1%
7/30/2020	-0.9%	2.2%	3.0%
4/28/2020	0.4%	-2.8%	10.4%
2/18/2020	3.2%	-6.7%	-26.1%
SUMMARY STATS
# Positive	11	11	12
# Negative	8	8	7
Median Positive	4.8%	5.0%	5.0%
Median Negative	-6.4%	-7.8%	-6.2%
Max Positive	9.3%	13.6%	14.5%
Max Negative	-12.1%	-12.6%	-26.1%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10312025	10-Q 9/30/2025
6302025	7312025	10-Q 6/30/2025
3312025	4282025	10-Q 3/31/2025
12312024	2282025	10-K 12/31/2024
9302024	11012024	10-Q 9/30/2024
6302024	7262024	10-Q 6/30/2024
3312024	4292024	10-Q 3/31/2024
12312023	2292024	10-K 12/31/2023
9302023	10272023	10-Q 9/30/2023
6302023	7282023	10-Q 6/30/2023
3312023	4282023	10-Q 3/31/2023
12312022	2272023	10-K 12/31/2022
9302022	11022022	10-Q 9/30/2022
6302022	7292022	10-Q 6/30/2022
3312022	4292022	10-Q 3/31/2022
12312021	2282022	10-K 12/31/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	MCNAMARA KEVIN J	president and CEO	11252025	Sell	437.55	2,000	875,100	41,215,897	Form

Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Chemed (CHE)

Market Price (12/24/2025): $432.65 | Market Cap: $6.2 BilSector: Health Care | Industry: Health Care Services

Chemed (CHE)

Market Price (12/24/2025): $432.65Market Cap: $6.2 BilSector: Health CareIndustry: Health Care Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

CHE Stock

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Qualitative Assessment

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About Chemed (CHE)

VITAS Healthcare

Roto-Rooter

Interactive Breakdown

Better Bets than Chemed (CHE)

INDUSTRY: Health Care Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for CHE: 5.9% | 2.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CHE: 5.9% | 17.7x)

Higher Rev Chg LTM (Value for CHE: 6.5%)

Higher Rev Chg 3Y Avg (Value for CHE: 5.9%)

Higher Op Mgn LTM (Value for CHE: 13.9%)

Higher CFO/Rev LTM (Value for CHE: 16.6%)

Higher FCF/Rev LTM (Value for CHE: 14.2%)

Higher Total Yield (Value for CHE: 4.8%)

SECTOR: Health Care

Higher Rev Chg 3Y Avg | Lower P/S (Values for CHE: 5.9% | 2.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CHE: 5.9% | 17.7x)

Higher Rev Chg LTM (Value for CHE: 6.5%)

Higher Rev Chg 3Y Avg (Value for CHE: 5.9%)

Higher Op Mgn LTM (Value for CHE: 13.9%)

Higher CFO/Rev LTM (Value for CHE: 16.6%)

Higher FCF/Rev LTM (Value for CHE: 14.2%)

Higher Total Yield (Value for CHE: 4.8%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CHE: 5.9% | 2.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CHE: 5.9% | 17.7x)

Higher Rev Chg LTM (Value for CHE: 6.5%)

Higher Rev Chg 3Y Avg (Value for CHE: 5.9%)

Higher Op Mgn LTM (Value for CHE: 13.9%)

Higher CFO/Rev LTM (Value for CHE: 16.6%)

Higher FCF/Rev LTM (Value for CHE: 14.2%)

Higher Total Yield (Value for CHE: 4.8%)

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Market Price (12/24/2025): $432.65 | Market Cap: $6.2 Bil
Sector: Health Care | Industry: Health Care Services

Market Price (12/24/2025): $432.65
Market Cap: $6.2 Bil
Sector: Health Care
Industry: Health Care Services