InfuSystems (INFU)
Market Price (8/5/2026): $11.99 | Market Cap: $242.3 MilSector: Health Care | Industry: Life Sciences Tools & Services
InfuSystems (INFU)
Market Price (8/5/2026): $11.99Market Cap: $242.3 MilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/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 12% Attractive yieldFCF Yield is 6.6% Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Aging Population & Chronic Disease. Themes include Remote Patient Monitoring, Diabetes Management, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% Weak multi-year price returns3Y Excs Rtn is -50% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 31x Stock price has recently run up significantly12M Rtn12 month market price return is 111% Weak revenue growthRev Chg QQuarterly Revenue Change % is -3.0% Key risksINFU key risks include [1] dependence on changing third-party reimbursement and regulatory policies, Show more. |
| Attractive cash flow generationCFO/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 12% |
| Attractive yieldFCF Yield is 6.6% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Aging Population & Chronic Disease. Themes include Remote Patient Monitoring, Diabetes Management, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns3Y Excs Rtn is -50% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 31x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 111% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -3.0% |
| Key risksINFU key risks include [1] dependence on changing third-party reimbursement and regulatory policies, Show more. |
Qualitative Assessment
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InfuSystems (INFU) stock has gained about 20% since 4/30/2026 because of the following key factors:
1. InfuSystems reported stronger-than-expected financial results for its fiscal second quarter of 2026 (ended June 30, 2026). The company announced net income of $3.2 million, or $0.15 per diluted share, surpassing the Zacks Consensus Estimate of $0.12 per share by 25%. Additionally, net revenues reached $36.9 million, exceeding analyst estimates by 1.19% and representing a 2.6% increase compared to the prior year. This marked the fourth consecutive quarter where InfuSystem beat EPS estimates.
2. The company experienced significant growth in its Patient Services segment, particularly in Wound Care and Oncology. Patient Services net revenue grew by 15.2% to $24.8 million in fiscal Q2 2026, driven by increased treatment volume and improved third-party payer collections. Oncology business achieved a record, surpassing $20 million in quarterly revenue with a 6.4% growth, while Wound Care revenue surged by 154% due to strong adoption of new lymphedema compression therapy offerings and new supplier relationships.
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InfuSystems (INFU) stock has gained about 20% since 4/30/2026 because of the following key factors:
1. InfuSystems reported stronger-than-expected financial results for its fiscal second quarter of 2026 (ended June 30, 2026). The company announced net income of $3.2 million, or $0.15 per diluted share, surpassing the Zacks Consensus Estimate of $0.12 per share by 25%. Additionally, net revenues reached $36.9 million, exceeding analyst estimates by 1.19% and representing a 2.6% increase compared to the prior year. This marked the fourth consecutive quarter where InfuSystem beat EPS estimates.
2. The company experienced significant growth in its Patient Services segment, particularly in Wound Care and Oncology. Patient Services net revenue grew by 15.2% to $24.8 million in fiscal Q2 2026, driven by increased treatment volume and improved third-party payer collections. Oncology business achieved a record, surpassing $20 million in quarterly revenue with a 6.4% growth, while Wound Care revenue surged by 154% due to strong adoption of new lymphedema compression therapy offerings and new supplier relationships.
3. InfuSystems demonstrated substantial gross margin expansion and Adjusted EBITDA growth. Consolidated gross profit increased by 7.7% to $21.4 million in fiscal Q2 2026, with the gross margin expanding by 2.8% to 58.0% year-over-year. Adjusted EBITDA rose by 7.6% to $8.6 million, and the Adjusted EBITDA margin improved to 23.4%. This profitability increase was partly attributable to the restructuring of a biomedical services contract with GE Healthcare, which, despite reducing Device Solutions revenue by $1.6 million, led to a larger reduction in direct contract expenses and an 8.3% improvement in Device Solutions' gross margin.
4. The announcement and execution of a $20 million stock repurchase program signaled management's confidence. On May 18, 2026, InfuSystem authorized a $20 million stock repurchase program, covering up to 10.2% of its outstanding shares. During fiscal Q2 2026, the company repurchased $3.5 million worth of its stock.
5. Strong analyst sentiment and favorable price targets provided a positive outlook for the stock. Wall Street analysts maintained a "Strong Buy" consensus rating for InfuSystem. The average 12-month price targets from analysts ranged from $14.88 to $17.50, implying a significant upside from the stock's price at the beginning of the period.
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Stock Movement Drivers
Fundamental Drivers
The 21.6% change in INFU stock from 4/30/2026 to 8/4/2026 was primarily driven by a 20.2% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.13 | 12.32 | 21.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 143 | 142 | -0.7% |
| Net Income Margin (%) | 4.6% | 5.6% | 20.2% |
| P/E Multiple | 31.0 | 31.5 | 1.5% |
| Shares Outstanding (Mil) | 20 | 20 | 0.4% |
| Cumulative Contribution | 21.6% |
Market Drivers
4/30/2026 to 8/4/2026| Return | Correlation | |
|---|---|---|
| INFU | 21.6% | |
| Market (SPY) | 7.3% | 11.5% |
| Sector (XLV) | 11.0% | 22.0% |
Fundamental Drivers
The 49.2% change in INFU stock from 1/31/2026 to 8/4/2026 was primarily driven by a 41.9% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.26 | 12.32 | 49.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 141 | 142 | 1.0% |
| Net Income Margin (%) | 3.9% | 5.6% | 41.9% |
| P/E Multiple | 30.5 | 31.5 | 3.1% |
| Shares Outstanding (Mil) | 20 | 20 | 1.0% |
| Cumulative Contribution | 49.2% |
Market Drivers
1/31/2026 to 8/4/2026| Return | Correlation | |
|---|---|---|
| INFU | 49.2% | |
| Market (SPY) | 11.8% | 24.0% |
| Sector (XLV) | 5.2% | 17.1% |
Fundamental Drivers
The 120.0% change in INFU stock from 7/31/2025 to 8/4/2026 was primarily driven by a 139.6% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.60 | 12.32 | 120.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 138 | 142 | 3.5% |
| Net Income Margin (%) | 2.3% | 5.6% | 139.6% |
| P/E Multiple | 37.1 | 31.5 | -15.1% |
| Shares Outstanding (Mil) | 21 | 20 | 4.5% |
| Cumulative Contribution | 120.0% |
Market Drivers
7/31/2025 to 8/4/2026| Return | Correlation | |
|---|---|---|
| INFU | 120.0% | |
| Market (SPY) | 23.1% | 26.7% |
| Sector (XLV) | 25.9% | 13.4% |
Fundamental Drivers
The 19.4% change in INFU stock from 7/31/2023 to 8/4/2026 was primarily driven by a 10071.7% change in the company's Net Income Margin (%).| (LTM values as of) | 7312023 | 8042026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.32 | 12.32 | 19.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 114 | 142 | 25.4% |
| Net Income Margin (%) | 0.1% | 5.6% | 10071.7% |
| P/E Multiple | 3,471.0 | 31.5 | -99.1% |
| Shares Outstanding (Mil) | 21 | 20 | 3.2% |
| Cumulative Contribution | 19.4% |
Market Drivers
7/31/2023 to 8/4/2026| Return | Correlation | |
|---|---|---|
| INFU | 19.4% | |
| Market (SPY) | 74.4% | 29.9% |
| Sector (XLV) | 26.5% | 18.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| INFU Return | -9% | -49% | 21% | -20% | 6% | 3% | -51% |
| Peers Return | 3% | -33% | 16% | 31% | 6% | 2% | 13% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| INFU Win Rate | 42% | 42% | 50% | 33% | 25% | 62% | |
| Peers Win Rate | 40% | 41% | 55% | 50% | 38% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| INFU Max Drawdown | -44% | -63% | -36% | -45% | -47% | -24% | |
| Peers Max Drawdown | -36% | -67% | -55% | -33% | -42% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: OPCH, ICUI, TCMD, EMBC, BVS.
[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] 2026 data is for the year up to 8/4/2026 (YTD)
How Low Can It Go
| Event | INFU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -45.1% | -18.8% |
| % Gain to Breakeven | 82.1% | 23.1% |
| Time to Breakeven | 94 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.6% | -7.8% |
| % Gain to Breakeven | 13.1% | 8.5% |
| Time to Breakeven | 6 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -16.2% | -9.5% |
| % Gain to Breakeven | 19.3% | 10.5% |
| Time to Breakeven | 24 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -29.7% | -6.7% |
| % Gain to Breakeven | 42.2% | 7.1% |
| Time to Breakeven | 91 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -51.5% | -33.7% |
| % Gain to Breakeven | 106.1% | 50.9% |
| Time to Breakeven | 30 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -52.0% | -3.7% |
| % Gain to Breakeven | 108.5% | 3.9% |
| Time to Breakeven | 314 days | 6 days |
In The Past
InfuSystems's stock fell -45.1% during the 2025 US Tariff Shock. Such a loss loss requires a 82.1% gain to breakeven.
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| Event | INFU | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -45.1% | -18.8% |
| % Gain to Breakeven | 82.1% | 23.1% |
| Time to Breakeven | 94 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -29.7% | -6.7% |
| % Gain to Breakeven | 42.2% | 7.1% |
| Time to Breakeven | 91 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -51.5% | -33.7% |
| % Gain to Breakeven | 106.1% | 50.9% |
| Time to Breakeven | 30 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -52.0% | -3.7% |
| % Gain to Breakeven | 108.5% | 3.9% |
| Time to Breakeven | 314 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -55.1% | -17.9% |
| % Gain to Breakeven | 122.9% | 21.8% |
| Time to Breakeven | 135 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -59.5% | -53.4% |
| % Gain to Breakeven | 146.7% | 114.4% |
| Time to Breakeven | 2089 days | 1085 days |
In The Past
InfuSystems's stock fell -45.1% during the 2025 US Tariff Shock. Such a loss loss requires a 82.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About InfuSystems (INFU)
InfuSystems Holdings, Inc. (NASDAQ: INFU) is a healthcare service company operating in the United States and Canada, specializing in infusion therapy. The company provides a comprehensive suite of infusion pumps, related products, and support services to enable healthcare providers to deliver critical treatments efficiently. Its business is structured into two main segments: Integrated Therapy Services (ITS) and Durable Medical Equipment Services (DME Services).
The ITS segment primarily focuses on supplying electronic ambulatory infusion pumps and associated disposable supply kits. These vital products are used by oncology, infusion, and hospital outpatient chemotherapy clinics for treating various cancers, including colorectal cancer, as well as for pain management and other disease states. This ensures patients receive continuous and precise medication delivery in both clinical and outpatient settings.
In addition to ambulatory solutions, the DME Services segment offers the sale, rental, and leasing of new and pre-owned pole-mounted and ambulatory infusion pumps, alongside other durable medical equipment and treatment-related consumables. A key service provided by InfuSystems is the biomedical recertification, maintenance, and repair of this equipment. Its extensive customer base includes oncology practices, home care and home infusion providers, skilled nursing facilities, pain centers, and the broader hospital market, ensuring essential medical devices remain operational and compliant.
AI Analysis | Feedback
InfuSystems is like **Xerox for medical infusion pumps**, providing the equipment, its disposable supplies, and comprehensive maintenance and repair services to healthcare providers.
InfuSystems is essentially a specialized **Grainger for medical infusion equipment**, offering sales, rental, and servicing of pumps, plus all necessary related consumables for hospitals and clinics.
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- Infusion Pumps: The company sells, rents, and leases new and pre-owned electronic ambulatory and pole-mounted infusion pumps.
- Other Durable Medical Equipment (DME): It provides a range of other durable medical equipment through sales, rentals, and leases.
- Disposable Supply Kits & Consumables: Supplies associated disposable supply kits and other treatment-related consumables.
- Biomedical Recertification, Maintenance, and Repair Services: Offers essential services for the upkeep and functionality of infusion pumps and other medical equipment.
- Integrated Therapy Services (ITS): A comprehensive service that supplies infusion pumps and associated disposable kits specifically for oncology and other therapy treatments.
- Customer Support Services: Provides local and field-based customer support, including operating pump service and repair centers.
AI Analysis | Feedback
InfuSystems (symbol: INFU) primarily sells its products and services to other companies and healthcare organizations, rather than directly to individuals. The provided background information describes the types of customers it serves, but does not list specific named customer companies or their symbols.
Based on the description, InfuSystems' major customer categories include:
- Oncology and Infusion Treatment Facilities: This category encompasses oncology, infusion, and hospital outpatient chemotherapy clinics, as well as general oncology practices. These are key customers for InfuSystems' electronic ambulatory infusion pumps and associated disposable supply kits for cancer treatment, pain management, and other disease states.
- Home Care and Home Infusion Providers: These alternate site settings utilize InfuSystems' equipment and services to deliver care outside of traditional hospital environments.
- Other Alternate Site Healthcare Settings and the Broader Hospital Market: This includes skilled nursing facilities, pain centers, and other segments of the hospital market. These customers engage InfuSystems for the sale, rental, and leasing of new and pre-owned durable medical equipment, consumables, and biomedical maintenance and repair services.
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Carrie Lachance, President and Chief Executive Officer
Carrie Lachance joined InfuSystem in 2010 and has held various positions, including Chief Operating Officer and management roles in Clinical Resources and Clinical Sales, before being appointed President and Chief Executive Officer in March 2021. She brings over 20 years of clinical knowledge to the role, having started her medical career in 1996 as a hospital corpsman in the U.S. Navy and Naval Reserves.
Barry Steele, Executive Vice President and Chief Financial Officer
Barry Steele joined InfuSystem in March 2020, bringing over 22 years of senior-level financial experience. Prior to InfuSystem, he served as Chief Financial Officer at Gentherm, a global developer of thermal management technologies, and Horizon Global, a leading manufacturer of towing and trailering equipment. He also held various finance positions at Advanced Accessory Systems, LLC, including Chief Accounting Officer and Chief Financial Officer, and was a Senior Auditor with Price Waterhouse LLP.
Addam Chupa, Executive Vice President and Chief Information Officer
Addam Chupa joined InfuSystem in January 2020 as Senior Vice President of Information Technology and is responsible for leading the company's IT infrastructure, security, and technology development. He has a proven track record with over 20 years of experience across healthcare, financial services, and manufacturing sectors.
Jerod Funke, Executive Vice President and Chief Human Resources Officer
Jerod Funke became part of InfuSystem in October 2023. He is an experienced HR leader with more than 25 years of expertise across various organizational sizes. Before joining InfuSystem, he led the HR function for global manufacturing and operations and the global talent acquisition team at Insulet Corporation.
Scott Shuda, Director
Scott Shuda has served on InfuSystem's board of directors since September 2016 and was formerly the Chairman of the Board. He is a co-founder and Managing Director of Meridian OHC Partners, LP, and BlueLine Partners, LLC, investment firms that focus on publicly traded technology and healthcare companies. Mr. Shuda's background includes serving as general counsel to Vicinity Corporation, an internet search company that went public in 2000 and was acquired by Microsoft in 2002. He possesses extensive experience in helping small public companies unlock value.
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The clear emerging threat for InfuSystems is the accelerating development and adoption of advanced, miniaturized, and increasingly disposable or patient-managed drug delivery devices, such as smart patch pumps and integrated wearable injectors.
These technologies have the potential to significantly reduce or eliminate the need for traditional, reusable ambulatory infusion pumps and the extensive durable medical equipment (DME) services that InfuSystems provides, including rental, leasing, maintenance, and biomedical recertification. As these alternative delivery systems become more capable of handling complex, multi-day infusion regimens—including those for chemotherapy and pain management—and gain wider acceptance due to improved patient convenience and potential cost-effectiveness, they pose a direct challenge to InfuSystems' core business model centered on the lifecycle management of reusable infusion equipment.
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InfuSystems (NASDAQ: INFU) operates within several addressable markets related to infusion therapy and durable medical equipment in the United States and Canada.
Infusion Pumps
- The global infusion pump market was valued at USD 18.01 billion in 2024 and is projected to reach USD 36.61 billion by 2033, growing at a compound annual growth rate (CAGR) of 8.2%. North America holds the largest share of this market, exceeding 38% in 2025.
- For North America specifically, the ambulatory infusion pumps market was valued at USD 6.3 billion in 2024 and is predicted to reach USD 11.2 billion by 2030, with a CAGR of 7.6% during 2025–2030.
- The North America syringe infusion pumps market was valued at USD 701.15 million in 2025 and is projected to hit approximately USD 1,629.67 million by 2035, growing at a CAGR of 8.8% between 2026 and 2035.
Home Infusion Therapy
- The U.S. home infusion therapy market size was valued at USD 19.65 billion in 2024 and is projected to grow to USD 38.02 billion by 2032, exhibiting a CAGR of 8.8%. The North American home infusion therapy market was valued at USD 15.76 billion in 2023.
- In Canada, the home infusion therapy market generated a revenue of USD 1,196.4 million in 2024 and is expected to reach USD 1,661.2 million by 2030, with a CAGR of 5.6% from 2025 to 2030.
Outpatient Oncology Infusion / Cancer Infusion Therapy
- The global outpatient oncology infusion market was valued at USD 87.17 billion in 2024 and is anticipated to reach approximately USD 244.03 billion by 2034, expanding at a CAGR of 10.84% from 2025 to 2034.
- The U.S. outpatient oncology infusion market surpassed USD 21.97 billion in 2024 and is expected to be worth around USD 62.80 billion by 2034, growing at a CAGR of 11.07% from 2025 to 2034. North America held the largest share, approximately 36%, of the global market in 2024.
- The global cancer infusion therapy market size was recorded at USD 9,031.41 million in 2021, is expected to reach USD 12,270.3 million by the end of 2025, and USD 22,649.3 million by 2033, growing at a CAGR of 7.963% from 2025 to 2033.
Durable Medical Equipment (DME) Services
- The global durable medical equipment market size was valued at USD 206.74 billion in 2024 and is expected to reach around USD 370.24 billion by 2034, with a CAGR of 6%.
- In North America, the durable medical equipment market surpassed USD 62.02 billion in 2024 and is expanding at a CAGR of 6.18%. North America held a 41.13% share of the global durable medical equipment market in 2025.
- The U.S. durable medical equipment market revenues grew from USD 60 billion in 2020 to USD 85 billion in 2024 and are projected to exceed USD 110 billion by 2028. Another report indicates the U.S. durable medical equipment market size was USD 43.58 billion in 2024 and is predicted to be worth around USD 79.57 billion by 2034, at a CAGR of 6.21% from 2025 to 2034.
- The Canada durable medical equipment market is growing at a 4.3% CAGR from 2023 to 2033 and is expected to reach a significant share by 2033.
Infusion Pump Rentals
- The global infusion pumps rental market is anticipated to be worth USD 3.5 billion in 2026 and is projected to exceed USD 7.0 billion by 2035, with a steady CAGR of 8.2%. Sales of infusion pump rentals in the U.S. are set to grow at a 6.6% CAGR through 2036.
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- Expansion of Wound Care and New Product Launches: InfuSystem anticipates continued growth in its Wound Care segment, driven by the successful launch of pneumatic compression devices and plans to introduce additional home healthcare Durable Medical Equipment (DME) products with new accreditations. Management has specifically targeted a 25% annual growth rate in Negative Pressure Wound Therapy (NPWT) through 2026.
- Growth in Oncology Clients and Market Expansion: The company expects revenue growth from acquiring new Oncology clients and expanding its reach within the healthcare market. Its extensive national scale, including partnerships with major hospital systems and broad insurance network participation, positions it for further expansion, particularly in home care.
- Leveraging New Technology and IT System Upgrades: InfuSystem is completing a significant upgrade to its main IT business application (ERP project) in Q1 2026. This strategic initiative is designed to enhance operational efficiency and enable increased volume capacity, thereby supporting future revenue growth.
- Shift to a Higher-Margin, Service-Oriented Model: The company is strategically pivoting towards diversified, high-growth healthcare services, exemplified by its move into Negative Pressure Wound Therapy and an expanded partnership with Sanara MedTech. The Integrated Therapy Services (ITS) segment, which delivers bundled equipment, clinical services, and biomedical maintenance, repair, and management (RMM), now accounts for approximately 65% of total revenue, signaling a focus on a higher-margin, service-centric business model.
- Increased Utilization in Patient Services and Device Solutions: Recent financial results show significant revenue increases in both the Patient Services and Device Solutions segments. Patient Services saw a 5.4% rise in net revenue, with Oncology contributing 2.8% and Wound Care experiencing over 160% growth. Device Solutions also grew by 9.7%, indicating increased utilization and demand for these core offerings.
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Share Repurchases
- InfuSystem Holdings, Inc. approved a $20 million stock repurchase program on May 20, 2024, set to continue through June 30, 2026.
- Under a previous authorization, the company repurchased approximately 550,000 shares for about $6.2 million.
- As of December 31, 2025, InfuSystem had repurchased $11.0 million under the renewed $20 million stock repurchase program, with total repurchases in 2025 amounting to $9.9 million for 1.3 million shares.
Share Issuance
- At the Annual Meeting of Stockholders on May 15, 2025, InfuSystem Holdings, Inc. approved an amendment to its 2021 Equity Incentive Plan, increasing the maximum number of shares reserved for issuance to 6,000,000.
Outbound Investments
- In 2021, the company acquired assets from OB Healthcare Corporation and FilAMed to enhance its Durable Medical Equipment (DME) services and remote repair capabilities.
- In 2025, InfuSystem acquired Apollo Medical Supply for $1.4 million, specifically to enhance its wound care solutions.
Capital Expenditures
- Capital expenditures, including medical device purchases, totaled $8.7 million in 2025, representing a 51.3% decrease from $13.2 million in 2024.
- This reduction in capital expenditures during 2025 was attributed to revenue growth favoring less capital-intensive products, such as Wound Care.
- InfuSystem is undertaking a major technology system upgrade (ERP) project, expected to be completed by early 2026, which is anticipated to generate approximately $2 million in annual savings post-completion.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| InfuSystems Earnings Notes | 12/16/2025 | |
| How Low Can InfuSystems Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 18.55 |
| Mkt Cap | 0.8 |
| Rev LTM | 809 |
| Op Inc LTM | 85 |
| FCF LTM | 87 |
| FCF 3Y Avg | 64 |
| CFO LTM | 135 |
| CFO 3Y Avg | 72 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.5% |
| Rev Chg 3Y Avg | 5.9% |
| Rev Chg Q | -0.6% |
| QoQ Delta Rev Chg LTM | -0.1% |
| Op Inc Chg LTM | 31.9% |
| Op Inc Chg 3Y Avg | 92.2% |
| Op Mgn LTM | 9.2% |
| Op Mgn 3Y Avg | 6.2% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 14.4% |
| CFO/Rev 3Y Avg | 8.7% |
| FCF/Rev LTM | 11.5% |
| FCF/Rev 3Y Avg | 6.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Patient Services | 87 | 80 | 77 | 69 | 66 |
| Device Solutions | 64 | 62 | 56 | 48 | 43 |
| Corporate/Eliminations | -7 | -7 | -7 | -6 | -6 |
| Total | 143 | 135 | 126 | 110 | 102 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Patient Services | 54 | 54 | 55 | 61 | 61 |
| Device Solutions | 45 | 47 | 46 | 37 | 35 |
| Corporate/Eliminations | 2 | 2 | 2 | 2 | 2 |
| Total | 101 | 104 | 103 | 99 | 98 |
Price Behavior
| Market Price | $12.32 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 11/13/2007 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $9.21 | $9.24 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 33.8% | 33.4% |
| 3M | 1YR | |
| Volatility | 88.6% | 64.5% |
| Downside Capture | 7.08 | 127.12 |
| Upside Capture | 64.97 | 182.01 |
| Correlation (SPY) | -11.5% | 24.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.05 | -0.36 | -0.50 | 0.64 | 1.01 | 1.01 |
| Up Beta | -4.70 | -1.76 | -1.44 | -0.44 | 0.30 | 0.71 |
| Down Beta | 1.96 | 0.01 | -0.58 | 0.25 | 0.63 | 1.07 |
| Up Capture | 22% | -5% | -34% | 127% | 202% | 102% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 10 | 19 | 29 | 62 | 126 | 353 |
| Down Capture | 107% | -11% | 6% | 109% | 115% | 106% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 12 | 22 | 32 | 61 | 121 | 374 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with INFU | |
|---|---|---|---|---|
| INFU | 116.8% | 64.4% | 1.43 | - |
| Sector ETF (XLV) | 25.3% | 15.6% | 1.25 | 13.3% |
| Equity (SPY) | 25.2% | 12.9% | 1.47 | 27.2% |
| Gold (GLD) | 21.1% | 28.1% | 0.67 | 3.0% |
| Commodities (DBC) | 28.3% | 19.8% | 1.14 | -14.9% |
| Real Estate (VNQ) | 15.6% | 13.8% | 0.81 | 13.0% |
| Bitcoin (BTCUSD) | -44.2% | 43.0% | -1.23 | 13.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with INFU | |
|---|---|---|---|---|
| INFU | -8.3% | 55.3% | 0.05 | - |
| Sector ETF (XLV) | 5.9% | 15.0% | 0.21 | 20.0% |
| Equity (SPY) | 13.4% | 17.2% | 0.60 | 27.9% |
| Gold (GLD) | 17.3% | 18.5% | 0.76 | -1.2% |
| Commodities (DBC) | 8.1% | 19.6% | 0.31 | 1.6% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 19.3% |
| Bitcoin (BTCUSD) | 10.0% | 53.0% | 0.38 | 14.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with INFU | |
|---|---|---|---|---|
| INFU | 14.6% | 55.5% | 0.48 | - |
| Sector ETF (XLV) | 9.8% | 16.6% | 0.48 | 20.0% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 26.0% |
| Gold (GLD) | 11.6% | 16.1% | 0.58 | 1.3% |
| Commodities (DBC) | 7.0% | 18.0% | 0.31 | 5.9% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 21.3% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 8.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/15/2021 | 11.9% | 12.0% | 6.6% |
| 8/12/2021 | -22.8% | -21.8% | -28.4% |
| 5/6/2021 | -3.1% | -14.8% | -12.3% |
| 3/17/2021 | 12.5% | 4.0% | 10.3% |
| 12/15/2020 | -5.5% | 9.7% | -1.0% |
| 8/13/2020 | 6.8% | 12.2% | 7.4% |
| SUMMARY STATS | |||
| # Positive | 3 | 4 | 3 |
| # Negative | 3 | 2 | 3 |
| Median Positive | 11.9% | 10.9% | 7.4% |
| Median Negative | -5.5% | -18.3% | -12.3% |
| Max Positive | 12.5% | 12.2% | 10.3% |
| Max Negative | -22.8% | -21.8% | -28.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/15/2021 | 11.9% | 12.0% | 6.6% |
| 8/12/2021 | -22.8% | -21.8% | -28.4% |
| 5/6/2021 | -3.1% | -14.8% | -12.3% |
| 3/17/2021 | 12.5% | 4.0% | 10.3% |
| 12/15/2020 | -5.5% | 9.7% | -1.0% |
| 8/13/2020 | 6.8% | 12.2% | 7.4% |
| SUMMARY STATS | |||
| # Positive | 3 | 4 | 3 |
| # Negative | 3 | 2 | 3 |
| Median Positive | 11.9% | 10.9% | 7.4% |
| Median Negative | -5.5% | -18.3% | -12.3% |
| Max Positive | 12.5% | 12.2% | 10.3% |
| Max Negative | -22.8% | -21.8% | -28.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 04/10/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 04/10/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/15/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/10/2021 | 10-Q |
| 12/31/2020 | 03/22/2021 | 10-K |
| 09/30/2020 | 11/13/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
| 06/30/2019 | 08/14/2019 | 10-Q |
Insider Activity
Updated 5/14/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lachance, Carrie | President and CEO | Direct | Buy | 5122026 | 8.46 | 1,000 | 8,460 | 2,014,521 | Form |
| 2 | Gendron, Paul Andrew | Direct | Buy | 5122026 | 8.88 | 5,000 | 44,400 | 621,600 | Form | |
| 3 | Lachance, Carrie | President and CEO | Direct | Buy | 5122026 | 8.83 | 2,000 | 17,660 | 2,093,796 | Form |
| 4 | Steele, Barry G | Executive VP and CFO | Direct | Buy | 5122026 | 8.71 | 7,000 | 60,949 | 841,009 | Form |
| 5 | Steele, Barry G | Executive VP and CFO | Direct | Buy | 3022026 | 9.16 | 2,064 | 18,906 | 806,080 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lachance, Carrie | President and CEO | Direct | Buy | 5122026 | 8.46 | 1,000 | 8,460 | 2,014,521 | Form |
| 2 | Gendron, Paul Andrew | Direct | Buy | 5122026 | 8.88 | 5,000 | 44,400 | 621,600 | Form | |
| 3 | Lachance, Carrie | President and CEO | Direct | Buy | 5122026 | 8.83 | 2,000 | 17,660 | 2,093,796 | Form |
| 4 | Steele, Barry G | Executive VP and CFO | Direct | Buy | 5122026 | 8.71 | 7,000 | 60,949 | 841,009 | Form |
| 5 | Steele, Barry G | Executive VP and CFO | Direct | Buy | 3022026 | 9.16 | 2,064 | 18,906 | 806,080 | Form |
| 6 | Shuda, Scott | Direct | Sell | 8222025 | 9.67 | 5,752 | 55,622 | 908,980 | Form | |
| 7 | Eichenbaum, Kenneth D | Direct | Buy | 5282025 | 5.18 | 2,000 | 10,360 | 31,080 | Form | |
| 8 | Hundzinski, Ronald T | Direct | Buy | 5202025 | 6.09 | 5,000 | 30,450 | 30,450 | Form | |
| 9 | Lachance, Carrie | President and COO | Direct | Buy | 5192025 | 6.10 | 1,967 | 11,991 | 1,159,532 | Form |
| 10 | Lachance, Carrie | President and COO | Direct | Buy | 5192025 | 6.00 | 1,165 | 6,996 | 1,130,411 | Form |
| 11 | Steele, Barry G | Executive VP and CFO | Direct | Buy | 5142025 | 5.76 | 3,000 | 17,280 | 442,869 | Form |
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Life Sciences Tools & Services Resources |
| GenomeWeb |
| BioSpace |
| The Scientist |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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