Encompass Health (EHC)


Market Price (11/10/2026): $141.14 | Market Cap: $13.8 BilSector: Health Care | Industry: Health Care Facilities

Encompass Health (EHC)


Market Price (11/10/2026): $141.14
Market Cap: $13.8 Bil
Sector: Health Care
Industry: Health Care Facilities

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

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%

Low stock price volatility
Vol 12M is 30%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Geriatric Care, Remote Patient Monitoring, Show more.

Trading close to highs
Dist 52W High is -0.1%, Dist 3Y High is -0.1%

Key risks
EHC key risks include the cascading fallout from a major exposé on systemic patient safety failures, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%
2 Low stock price volatility
Vol 12M is 30%
3 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Geriatric Care, Remote Patient Monitoring, Show more.
4 Trading close to highs
Dist 52W High is -0.1%, Dist 3Y High is -0.1%
5 Key risks
EHC key risks include the cascading fallout from a major exposé on systemic patient safety failures, Show more.

EHC in ETFs

Weight = EHC's share of each fund

VTI0.02%
ITOT0.02%
IWB0.02%
IJH0.39%
VB0.15%
IHF1.7%
IJK0.78%
MDYG0.74%
+18 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

Encompass Health (EHC) stock has gained about 25% since 7/31/2026 because of the following key factors:

1. Exceeded Earnings Expectations and Raised Guidance for Fiscal Q2 2026. Encompass Health reported strong results for its fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with net operating revenue increasing 9.6% and Adjusted EBITDA growing 9.2% year-over-year. The company subsequently raised its full-year 2026 guidance, which served as a significant positive catalyst for the stock.

2. Robust Fiscal Q3 2026 Performance and Further Upward Revision of Full-Year Outlook. The company continued its strong performance by reporting fiscal Q3 2026 (ended September 30, 2026) results on October 28, 2026, significantly beating analyst estimates. Adjusted earnings per share were $1.52, surpassing the $1.36 consensus, while revenue reached $1.61 billion, slightly above the $1.60 billion estimate. Notably, Q3 adjusted EPS climbed 23.6% and Adjusted EBITDA rose 15.5% year-over-year. Following these results, Encompass Health once again increased its full-year 2026 guidance for revenue, Adjusted EBITDA, and adjusted EPS, reinforcing investor confidence.

Show more
Updated on 11/1/2026

Encompass Health (EHC) stock has gained about 25% since 7/31/2026 because of the following key factors:

1. Exceeded Earnings Expectations and Raised Guidance for Fiscal Q2 2026. Encompass Health reported strong results for its fiscal Q2 2026 (ended June 30, 2026) on August 5, 2026, with net operating revenue increasing 9.6% and Adjusted EBITDA growing 9.2% year-over-year. The company subsequently raised its full-year 2026 guidance, which served as a significant positive catalyst for the stock.

2. Robust Fiscal Q3 2026 Performance and Further Upward Revision of Full-Year Outlook. The company continued its strong performance by reporting fiscal Q3 2026 (ended September 30, 2026) results on October 28, 2026, significantly beating analyst estimates. Adjusted earnings per share were $1.52, surpassing the $1.36 consensus, while revenue reached $1.61 billion, slightly above the $1.60 billion estimate. Notably, Q3 adjusted EPS climbed 23.6% and Adjusted EBITDA rose 15.5% year-over-year. Following these results, Encompass Health once again increased its full-year 2026 guidance for revenue, Adjusted EBITDA, and adjusted EPS, reinforcing investor confidence.

3. Strong Demand and Strategic Capacity Expansion in Inpatient Rehabilitation. Encompass Health demonstrated sustained growth driven by robust demand for inpatient rehabilitation services and a focus on treating higher-acuity patients. The company expanded its capacity by opening new hospitals and adding beds to existing facilities, with management highlighting an active pipeline for further development. This operational growth strategy was further bolstered by the repeal of North Carolina's Certificate of Need law effective October 1, 2026, opening new development opportunities.

4. Positive Analyst Sentiment and Increased Price Targets. Throughout the period, several investment analysts reiterated "Buy" or "Strong Buy" ratings and increased their price targets for Encompass Health shares. This consistently positive outlook from the analytical community, with an average price target ranging from $150.57 to $154.25, indicated a favorable perception of the company's financial performance and future prospects, contributing to the stock's upward trend.

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Stock Movement Drivers

Fundamental Drivers

The 27.3% change in EHC stock from 7/31/2026 to 11/9/2026 was primarily driven by a 19.3% change in the company's P/E Multiple.
(LTM values as of)731202611092026Change
Stock Price ($)110.88141.1527.3%
Change Contribution By: 
Total Revenues ($ Mil)6,0666,3384.5%
Net Income Margin (%)10.0%10.2%1.2%
P/E Multiple18.121.519.3%
Shares Outstanding (Mil)99980.9%
Cumulative Contribution27.3%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/9/2026
ReturnCorrelation
EHC27.3% 
Market (SPY)0.8%-5.9%
Sector (XLV)15.9%36.2%

Fundamental Drivers

The 41.7% change in EHC stock from 4/30/2026 to 11/9/2026 was primarily driven by a 21.7% change in the company's P/E Multiple.
(LTM values as of)430202611092026Change
Stock Price ($)99.64141.1541.7%
Change Contribution By: 
Total Revenues ($ Mil)5,9356,3386.8%
Net Income Margin (%)9.5%10.2%6.6%
P/E Multiple17.721.521.7%
Shares Outstanding (Mil)100982.2%
Cumulative Contribution41.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/9/2026
ReturnCorrelation
EHC41.7% 
Market (SPY)5.0%-13.4%
Sector (XLV)29.6%35.8%

Fundamental Drivers

The 24.9% change in EHC stock from 10/31/2025 to 11/9/2026 was primarily driven by a 9.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202511092026Change
Stock Price ($)113.01141.1524.9%
Change Contribution By: 
Total Revenues ($ Mil)5,7966,3389.4%
Net Income Margin (%)9.3%10.2%8.9%
P/E Multiple21.021.52.6%
Shares Outstanding (Mil)100982.2%
Cumulative Contribution24.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/9/2026
ReturnCorrelation
EHC24.9% 
Market (SPY)11.3%-0.8%
Sector (XLV)32.2%31.8%

Fundamental Drivers

The 130.5% change in EHC stock from 10/31/2023 to 11/9/2026 was primarily driven by a 48.2% change in the company's Net Income Margin (%).
(LTM values as of)1031202311092026Change
Stock Price ($)61.23141.15130.5%
Change Contribution By: 
Total Revenues ($ Mil)4,5746,33838.6%
Net Income Margin (%)6.9%10.2%48.2%
P/E Multiple19.421.510.9%
Shares Outstanding (Mil)100981.2%
Cumulative Contribution130.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/9/2026
ReturnCorrelation
EHC130.5% 
Market (SPY)86.2%22.1%
Sector (XLV)58.4%35.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
EHC Return-20%17%13%39%16%34%127%
Peers Return22%-16%43%17%43%11%175%
S&P 500 Return27%-19%24%23%16%8%96%

Monthly Win Rates [3]
EHC Win Rate50%50%50%83%75%73% 
Peers Win Rate58%50%58%53%63%49% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
EHC Max Drawdown-36%-27%-18%-11%-17%-15% 
Peers Max Drawdown-32%-47%-28%-27%-22%-37% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: THC, UHS, ENSG, USPH, BKD. See EHC 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] 2026 data is for the year up to 11/9/2026 (YTD)

How Low Can It Go

EventEHCS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-10.2%-9.5%
  % Gain to Breakeven11.3%10.5%
  Time to Breakeven45 days24 days
2023 SVB Regional Banking Crisis
  % Loss-16.3%-6.7%
  % Gain to Breakeven19.5%7.1%
  Time to Breakeven24 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-19.0%-24.5%
  % Gain to Breakeven23.4%32.4%
  Time to Breakeven43 days427 days
2020 COVID-19 Crash
  % Loss-39.5%-33.7%
  % Gain to Breakeven65.4%50.9%
  Time to Breakeven246 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-22.9%-19.2%
  % Gain to Breakeven29.7%23.8%
  Time to Breakeven385 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-31.2%-12.2%
  % Gain to Breakeven45.4%13.9%
  Time to Breakeven420 days62 days

Compare to THC, UHS, ENSG, USPH, BKD

In The Past

Encompass Health's stock fell -7.8% during the 2025 US Tariff Shock. Such a loss loss requires a 8.4% 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.

EventEHCS&P 500
2020 COVID-19 Crash
  % Loss-39.5%-33.7%
  % Gain to Breakeven65.4%50.9%
  Time to Breakeven246 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-22.9%-19.2%
  % Gain to Breakeven29.7%23.8%
  Time to Breakeven385 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-31.2%-12.2%
  % Gain to Breakeven45.4%13.9%
  Time to Breakeven420 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-44.2%-17.9%
  % Gain to Breakeven79.3%21.8%
  Time to Breakeven534 days123 days
2008-2009 Global Financial Crisis
  % Loss-70.0%-53.4%
  % Gain to Breakeven233.7%114.4%
  Time to Breakeven678 days1085 days

Compare to THC, UHS, ENSG, USPH, BKD

In The Past

Encompass Health's stock fell -7.8% during the 2025 US Tariff Shock. Such a loss loss requires a 8.4% 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 Encompass Health (EHC)

Encompass Health Corporation (EHC) is a prominent provider of post-acute healthcare services across the United States. The company operates through two primary segments: Inpatient Rehabilitation and Home Health and Hospice. Its Inpatient Rehabilitation segment specializes in delivering comprehensive rehabilitative treatment to patients recovering from serious conditions such as strokes, neurological disorders, cardiac and pulmonary issues, brain and spinal cord injuries, and complex orthopedic conditions. These services, offered on both an inpatient and outpatient basis, are crucial for patients aiming to regain function and improve their quality of life.

EHC's Home Health and Hospice segment extends care into patients' homes, primarily serving the Southeast and Texas. The home health services provide a wide array of Medicare-certified care to adult patients, including skilled nursing, medical social work, home health aide assistance, and various therapies like physical, occupational, and speech therapy. Complementing this, the hospice services offer compassionate in-home care for terminally ill patients and their families, focusing on comfort and support during a critical time. The company operates a significant network of facilities, including 147 rehabilitation hospitals, 251 home health locations, and 96 hospice locations across 42 states and Puerto Rico as of early 2022.

AI Analysis | Feedback

Analogies for Encompass Health (EHC):

  • Like HCA Healthcare for specialized recovery and at-home care.

AI Analysis | Feedback

  • Inpatient Rehabilitation Services: Specialized medical rehabilitation programs offered on an inpatient and outpatient basis for patients recovering from various complex conditions and injuries.
  • Home Health Services: A range of Medicare-certified home nursing and therapy services provided to adult patients in their homes.
  • Hospice Services: In-home care and support services designed for terminally ill patients and their families.

AI Analysis | Feedback

Encompass Health (EHC) Major Customers

Encompass Health (EHC) primarily serves individual patients directly, providing specialized post-acute healthcare services. The company does not sell its services to other companies.

Its major customer categories include:

  • Patients in Inpatient Rehabilitation: Individuals recovering from serious medical events or conditions such as stroke, other neurological disorders, cardiac and pulmonary conditions, brain and spinal cord injuries, complex orthopedic conditions, and amputations, who require intensive rehabilitative treatment.
  • Adult Patients Requiring Home Health Services: Adults in need of skilled nursing, medical social work, home health aide services, and various therapies (physical, occupational, speech) in a home setting.
  • Terminally Ill Patients and Their Families: Individuals receiving in-home hospice services for end-of-life care, along with support for their families.

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Mark J. Tarr, President and Chief Executive Officer

Mark Tarr has served as President and Chief Executive Officer for Encompass Health since December 29, 2016. He joined Encompass Health in 1993, holding various management positions, including Executive Vice President and Chief Operating Officer from 2011-2016, Executive Vice President of Operations since August 1, 2007, and President of the company's inpatient division since September 2004. Prior to his time at Encompass Health, Tarr held administrative positions at Tenet Healthcare and Charter Medical, and an early career role at Georgia-Pacific.

Douglas E. Coltharp, Executive Vice President and Chief Financial Officer

Douglas E. Coltharp was named Chief Financial Officer of Encompass Health on May 6, 2010. Before joining Encompass Health, Coltharp served as a partner at Arlington Capital Advisors and Arlington Investment Partners, LLC, which is described as a boutique investment banking and private equity firm. He also spent 11 years as Executive Vice President and Chief Financial Officer for Saks Inc., a Fortune 1000 national retailer, where he was responsible for recapitalizing the company and guiding it through a series of acquisitions and organic growth strategies. Coltharp began his career in 1987 at NationsBank, N.A. (now part of Bank of America), rising to Senior Vice President and head of Southeast Corporate Banking, where he advised Fortune 1000 companies on capital raising. He serves on the board of Under Armour, Inc.

Pat Tuer, Executive Vice President and Chief Operating Officer

Pat Tuer assumed the position of Executive Vice President and Chief Operating Officer in April 2025. He previously served as group president of Encompass Health's Northeast and MidAtlantic regions since August 2023, and as president of the company's Northeast region since March 2021. Prior to Encompass Health, Tuer worked for Select Medical for more than four years, where he held roles including regional vice president and chief executive officer for long-term acute care hospitals. Earlier in his career, he held various leadership roles at Community Health Systems.

Patrick Darby, Executive Vice President, General Counsel and Corporate Secretary

Patrick Darby was named Executive Vice President, General Counsel and Corporate Secretary of Encompass Health in February 2016. Before joining the company, Darby was a partner for 25 years at the law firm of Bradley Arant Boult Cummings LLP in Birmingham, Alabama, specializing in corporate restructuring. He clerked on the United States Circuit Court of Appeals for the Second Circuit and is a Fellow in the American College of Bankruptcy.

Dr. Elissa Charbonneau, Chief Medical Officer

Dr. Elissa Charbonneau was appointed Chief Medical Officer of Encompass Health in June 2015. Previously, she served as the company's Vice President of Medical Services. From 2001 to early 2015, Dr. Charbonneau was Medical Director at New England Rehabilitation Hospital of Portland, a joint venture of Maine Medical Center and Encompass Health, where she had been a staff physician since 1992.

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AI Analysis | Feedback

Here are the key risks to Encompass Health (EHC):

  1. Regulatory and Reimbursement Risks: Encompass Health's operations are highly susceptible to the complex and evolving regulatory environment, particularly changes in Medicare payment systems and reimbursement policies. Approximately 60% of the company's revenue is tied to Medicare and Medicaid, making it vulnerable to shifts in government healthcare policy, payment cuts, and heightened scrutiny from the Centers for Medicare & Medicaid Services (CMS). The rapid transition to Medicare Advantage plans poses a significant risk, as these plans often implement aggressive prior authorization practices and tighter admission criteria, potentially redirecting patients to lower-cost care settings and impacting Encompass Health's inpatient rehabilitation facility (IRF) utilization. The company faces ongoing audit risks and potential penalties related to compliance, billing practices, and quality-of-care issues.
  2. Patient Safety, Quality of Care, and Associated Litigation/Reputational Risks: Encompass Health faces significant risks related to maintaining a consistently high quality of patient care. Reports, including a high-profile New York Times article, have raised concerns about patient safety and performance at some of its rehabilitation hospitals, citing serious incidents of patient harm, below-average performance on key safety measures like preventable readmissions, and even patient deaths. Such issues can lead to increased regulatory scrutiny, potential litigation (including class-action lawsuits alleging misleading disclosures), and damage to the company's reputation, ultimately impacting patient volumes and investor confidence.
  3. Workforce Shortages and Increased Labor Costs: The broader healthcare sector is experiencing a significant shortage of clinical personnel, which poses a direct challenge to Encompass Health. This can necessitate increased reliance on contract labor and premium pay programs, leading to higher operational costs and potential disruptions in service quality. Persistent labor shortages can also constrain the company's growth initiatives and pressure profit margins.

AI Analysis | Feedback

The emergence of hospital-at-home programs and other intensive home-based care models poses a clear emerging threat to Encompass Health's inpatient rehabilitation segment. These programs leverage technology and coordinated care to deliver facility-level medical and rehabilitative services in a patient's home, offering a potentially more convenient and cost-effective alternative to traditional inpatient rehabilitation facilities for a growing segment of patients.

AI Analysis | Feedback

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For Encompass Health Corporation (EHC), the addressable markets for their main products and services in the United States are as follows:

  • Inpatient Rehabilitation: The U.S. medical rehabilitation services market, which includes both inpatient and outpatient settings, generated an estimated revenue of approximately USD 97.25 billion in 2024. This market is projected to grow to about USD 137.11 billion by 2030. Another estimate for the broader rehabilitation industry projects a market size of USD 49.9 billion by 2024.
  • Home Health Services: The U.S. home healthcare market size was estimated at approximately USD 162.35 billion in 2024 and is expected to reach about USD 381.40 billion by 2033.
  • Hospice Services: The U.S. hospice market was estimated at approximately USD 29.92 billion in 2024 and is projected to reach about USD 39.09 billion by 2030.
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AI Analysis | Feedback

Encompass Health (EHC) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:
  1. Expansion of Inpatient Rehabilitation Hospitals and Capacity Additions: A primary driver of revenue growth for Encompass Health is its aggressive strategy of building new inpatient rehabilitation hospitals (de novo projects) and expanding bed capacity in existing facilities. The company plans to open between 6 and 10 new hospitals annually through 2027 and add 80 to 120 beds to existing hospitals each year. This expansion aims to meet the underserved and growing demand for inpatient rehabilitation services. For example, plans for new 50-bed hospitals in Norristown, Pennsylvania, and San Antonio, Texas, are expected to open in 2026, and in Wesley Chapel, Florida, and Apollo Beach, Florida, by 2027. In 2025, Encompass Health added 517 beds through its investments in capacity.
  2. Increased Patient Discharges and Volume Growth: The company consistently reports revenue growth driven by an increase in total patient discharges, stemming from both new facility openings and same-store growth. For example, Q1 2024 revenue growth was primarily driven by a 10% increase in total discharges, including 6.7% same-store growth. In Q4 2025, total discharges grew 5.3% year-over-year, with same-store discharge growth of 3.2%. Analysts project Encompass Health's 2025 revenue to reach approximately $5.9 billion, reflecting continued expansion and market penetration.
  3. Favorable Pricing and Payer Mix, including Medicare Advantage: Encompass Health benefits from increases in net revenue per discharge, attributed in part to a favorable patient mix and high-quality patient outcomes. The company has successfully increased its Medicare Advantage (MA) payer mix, which nearly doubled from just under 9% in 2019 to almost 17% by the end of 2025. Furthermore, their 2026 guidance anticipates a Medicare pricing increase of approximately 3.0% and a Managed Care pricing increase of 2.0% to 3.0%.
  4. Demographic Tailwinds from an Aging Population: A significant underlying driver for Encompass Health's services is the ongoing demographic trend of an aging population. The "Baby Boomer generation" is increasingly requiring post-acute rehabilitation care, creating a sustained and growing demand for the company's specialized services. This demographic shift ensures a predictable long-term demand curve for inpatient rehabilitation.

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Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

  • Encompass Health allocated $160 million towards share repurchases in 2025.
  • The company reported $31.1 million in annual share buybacks in 2024.
  • For the quarter ending September 30, 2025, share buybacks amounted to $24.9 million.

Share Issuance

  • Encompass Health's shares outstanding were 0.102 billion in 2025.
  • Shares outstanding in 2024 were 0.102 billion, a 0.89% increase from 2023.
  • In 2023, shares outstanding were 0.101 billion, a 0.9% increase from 2022.

Outbound Investments

  • On July 1, 2022, Encompass Health completed the spin-off of Enhabit Home Health & Hospice, establishing it as an independent, publicly traded company.

Capital Expenditures

  • Capital expenditures reached $736 million in 2025, with $527 million specifically allocated for growth capital expenditures.
  • For 2026, the company projects approximately $725 million in growth-related capital expenditures.
  • The primary focus of capital expenditures is on expanding capacity by adding 500 to 600 beds annually through new facilities (de novo hospitals) and additions to existing hospitals, alongside investments in hospital-based technologies and IT infrastructure upgrades.

Better Bets vs. Encompass Health (EHC)

Peer Outperformance in Health Care Facilities

EHC has outperformed 92% of its 25 Health Care Facilities peers over 5Y. Among the peers that beat it is NHC. Health Care Facilities ranks 4th of 10 industries in Health Care by median 5Y return.
Share of Health Care Facilities constituents that EHC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
53%
of 30 industry peers · 23.4% return
3Y
76%
of 25 industry peers · 129.5% return
5Y
92%
of 25 industry peers · 190.5% return
Health Care Facilities peers with revenue growth within 4pp of EHC's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
EHC Encompass Health 10.5% 21.5x 23.4%129.5%190.5% —
NHC National Healthcare 13.0% 28.6x 67.4%210.6%227.7% +37pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Health Care Facilities is EHC's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 9.8%58.5%102.8% CAH 516% · MCK 395% · COR 192%
Health Care Services 20 34.0%25.5%10.9% HIMS 177% · RDNT 147% · DGX 101%
Managed Health Care 8 52.2%-4.3%-3.7% OSCR 98% · HQY 50% · ELV 5%
Health Care Facilities ← 26 23.0%20.7%-4.3% THC 263% · NHC 228% · EHC 190%
Health Care Equipment 50 11.7%22.1%-13.2% UFPT 383% · GKOS 358% · TMDX 202%
Pharmaceuticals 59 -11.8%20.4%-37.9% LQDA 1097% · XERS 709% · KNSA 590%
Health Care Supplies 11 29.2%20.4%-40.8% LNTH 235% · HAE 96% · MMSI 30%
Life Sciences Tools & Services 109 -0.8%-9.6%-74.3% AXGN 278% · MEDP 201% · NTRA 183%
Biotechnology 365 -21.2%-29.6%-80.6% ELVN 1218% · TRVI 1187% · DNTH 1113%
Health Care Technology 21 -19.4%-44.4%-82.6% VEEV -4% · DOCS -57%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

EHCTHCUHSENSGUSPHBKDMedian
NameEncompas.Tenet He.Universa.Ensign US Physi.Brookdal. 
Mkt Price141.14289.00195.79181.9899.899.30161.56
Mkt Cap13.923.211.510.51.52.211.0
Rev LTM6,33823,62618,3535,6748382,9506,006
Op Inc LTM1,1615,3211,99150985170835
FCF LTM4573,3281,094206915263
FCF 3Y Avg3762,4081,0006066-1221
CFO LTM1,3044,2382,056696892321,000
CFO 3Y Avg1,1123,3061,95550380204808

Growth & Margins

EHCTHCUHSENSGUSPHBKDMedian
NameEncompas.Tenet He.Universa.Ensign US Physi.Brookdal. 
Rev Chg LTM9.4%13.3%8.0%17.5%10.4%-8.4%9.9%
Rev Chg 3Y Avg10.5%5.6%9.4%16.8%12.4%0.2%10.0%
Rev Chg Q8.9%18.7%5.3%14.5%12.9%-12.4%10.9%
QoQ Delta Rev Chg LTM2.1%4.4%1.3%3.4%3.1%-3.3%2.6%
Op Inc Chg LTM15.9%59.0%2.2%26.6%12.3%166.4%21.2%
Op Inc Chg 3Y Avg17.2%32.8%22.7%20.4%7.3%189.1%21.5%
Op Mgn LTM18.3%22.5%10.8%9.0%10.1%5.8%10.5%
Op Mgn 3Y Avg17.1%17.4%10.8%8.0%10.1%3.2%10.4%
QoQ Delta Op Mgn LTM0.3%3.0%-0.5%0.5%0.4%1.3%0.4%
CFO/Rev LTM20.6%17.9%11.2%12.3%10.6%7.9%11.7%
CFO/Rev 3Y Avg19.1%15.0%11.6%10.1%10.8%6.6%11.2%
FCF/Rev LTM7.2%14.1%6.0%0.3%8.2%0.5%6.6%
FCF/Rev 3Y Avg6.4%10.9%5.9%1.3%9.0%-0.1%6.2%

Valuation

EHCTHCUHSENSGUSPHBKDMedian
NameEncompas.Tenet He.Universa.Ensign US Physi.Brookdal. 
Mkt Cap13.923.211.510.51.52.211.0
P/S2.21.00.61.91.80.81.4
P/Op Inc11.94.45.820.717.613.112.5
P/EBIT11.64.25.419.519.111.211.4
P/E21.58.07.926.4-38.8-59.47.9
P/CFO10.65.55.615.116.89.610.1
Total Yield5.2%12.5%13.0%3.9%-1.7%-1.7%4.6%
Dividend Yield0.6%0.0%0.4%0.1%0.9%0.0%0.3%
FCF Yield 3Y Avg3.3%13.2%8.1%0.7%5.2%-0.4%4.2%
D/E0.20.60.50.20.32.50.4
Net D/E0.20.50.50.20.32.30.4

Returns

EHCTHCUHSENSGUSPHBKDMedian
NameEncompas.Tenet He.Universa.Ensign US Physi.Brookdal. 
1M Rtn14.4%9.6%10.4%5.9%18.0%-8.1%10.0%
3M Rtn12.4%11.2%13.5%-1.0%22.9%-32.0%11.8%
6M Rtn35.1%50.8%16.7%7.5%70.3%-27.4%25.9%
12M Rtn23.3%40.8%-14.2%1.3%38.7%-1.3%12.3%
3Y Rtn129.4%437.3%52.3%77.9%29.6%122.6%100.3%
1M Excs Rtn20.0%15.1%15.9%11.5%23.5%-2.5%15.5%
3M Excs Rtn17.3%15.9%20.7%5.6%27.6%-21.3%16.6%
6M Excs Rtn35.6%51.3%17.2%8.0%70.8%-26.9%26.4%
12M Excs Rtn13.8%31.8%-22.8%-10.1%22.3%-7.6%3.1%
3Y Excs Rtn57.1%364.7%-13.0%14.3%-42.8%53.9%34.1%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Inpatient5,7565,2304,6944,2523,918
Other1791431079797
Total5,9355,3734,8014,3494,015


Operating Income by Segment
$ Mil20062005200120001999
Inpatient360393   
Surgery Centers9381   
Outpatient2732   
Diagnostic-27-1   
Inpatient and other clinical services  565423 
Outpatient Services  565494346
Rehabilitation service/Clinic    226
Total4535051,130917571


Assets by Segment
$ Mil20212020201920182017
Inpatient rehabilitation5,1434,8354,5013,9013,789
Home Health and Hospice1,7221,6111,6131,3151,150
Reclassification of noncurrent deferred income tax liabilities to net noncurrent deferred income tax  -34-40-46
Total6,8656,4466,0815,1754,894


Price Behavior

Price Behavior
Market Price$141.15 
Market Cap ($ Bil)13.9 
First Trading Date09/13/1989 
Distance from 52W High-0.1% 
   50 Days200 Days
DMA Price$124.96$110.90
DMA Trendupup
Distance from DMA13.0%27.3%
 3M1YR
Volatility29.0%30.5%
Downside Capture-77.39-26.94
Upside Capture-41.02-1.90
Correlation (S&P 500)-11.1%-1.8%
EHC Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-1.40-0.73-0.69-0.62-0.090.37
Up Beta2.970.850.17-0.090.170.48
Down Beta-1.66-1.94-0.89-0.13-0.010.39
Up Capture-52%-15%-27%-41%-6%15%
Bmk +ve Days12182862130427
Stock +ve Days14233362117391
Down Capture-238%-126%-191%-201%-52%35%
Bmk -ve Days10253664121325
Stock -ve Days8203164134359

[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 EHC
EHC23.7%30.5%0.70-
Sector ETF (XLV)30.8%17.0%1.4031.9%
Equity (SPY)13.3%13.7%0.65-0.6%
Gold (GLD)3.7%28.8%0.12-0.8%
Commodities (DBC)38.2%21.3%1.42-14.8%
Real Estate (VNQ)13.7%14.3%0.6533.2%
Bitcoin (BTCUSD)-25.3%43.6%-0.55-3.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EHC
EHC23.9%27.1%0.78-
Sector ETF (XLV)8.8%15.4%0.3741.2%
Equity (SPY)11.8%17.3%0.5134.7%
Gold (GLD)17.8%19.1%0.755.2%
Commodities (DBC)8.0%19.6%0.293.8%
Real Estate (VNQ)1.5%18.9%-0.0340.3%
Bitcoin (BTCUSD)4.4%51.6%0.2710.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EHC
EHC17.8%27.8%0.62-
Sector ETF (XLV)12.6%16.8%0.6248.6%
Equity (SPY)15.3%18.0%0.7246.7%
Gold (GLD)12.1%16.5%0.602.5%
Commodities (DBC)7.6%18.1%0.3313.9%
Real Estate (VNQ)6.1%20.7%0.2547.8%
Bitcoin (BTCUSD)60.0%66.3%1.008.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity3.3 Mil
Short Interest: % Change Since 9302026-5.0%
Average Daily Volume0.9 Mil
Days-to-Cover Short Interest3.5 days
Basic Shares Quantity98.3 Mil
Short % of Basic Shares3.4%

Earnings Returns History

Updated 11/6/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/20267.7%15.5% 
8/5/202612.6%12.6%10.5%
4/30/20267.5%7.1%2.7%
2/5/20265.9%12.6%9.1%
10/29/2025-7.0%-8.2%-8.7%
8/4/20254.0%7.3%12.9%
4/24/202511.8%14.3%17.2%
2/6/20251.3%1.6%0.5%
...
SUMMARY STATS   
# Positive161814
# Negative758
Median Positive4.4%5.3%7.3%
Median Negative-2.8%-4.6%-5.9%
Max Positive12.6%15.5%17.2%
Max Negative-7.0%-8.2%-8.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/20267.7%15.5% 
8/5/202612.6%12.6%10.5%
4/30/20267.5%7.1%2.7%
2/5/20265.9%12.6%9.1%
10/29/2025-7.0%-8.2%-8.7%
8/4/20254.0%7.3%12.9%
4/24/202511.8%14.3%17.2%
2/6/20251.3%1.6%0.5%
10/28/20247.4%7.7%11.5%
8/5/2024-5.6%-3.1%4.4%
4/24/2024-0.1%0.1%2.1%
2/7/20240.9%0.8%5.1%
10/26/2023-0.6%3.3%6.4%
8/1/20235.1%8.2%8.1%
4/27/20231.1%-0.8%-5.6%
2/7/20232.7%4.5%-8.2%
10/26/20222.0%5.7%11.8%
8/1/20220.4%4.2%-3.6%
4/27/20224.8%5.0%-1.9%
10/27/2021-2.8%-4.6%-6.8%
7/27/2021-0.1%3.6%-4.2%
4/27/20211.2%0.8%1.5%
1/26/2021-4.1%-5.4%-6.2%
SUMMARY STATS   
# Positive161814
# Negative758
Median Positive4.4%5.3%7.3%
Median Negative-2.8%-4.6%-5.9%
Max Positive12.6%15.5%17.2%
Max Negative-7.0%-8.2%-8.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202611/03/202610-Q
06/30/202608/07/202610-Q
03/31/202605/01/202610-Q
12/31/202502/26/202610-K
09/30/202510/31/202510-Q
06/30/202508/06/202510-Q
03/31/202505/01/202510-Q
12/31/202402/28/202510-K
09/30/202411/01/202410-Q
06/30/202408/06/202410-Q
03/31/202405/02/202410-Q
12/31/202302/28/202410-K
09/30/202311/01/202310-Q
06/30/202308/04/202310-Q
03/31/202305/03/202310-Q
12/31/202202/27/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202611/03/202610-Q
06/30/202608/07/202610-Q
03/31/202605/01/202610-Q
12/31/202502/26/202610-K
09/30/202510/31/202510-Q
06/30/202508/06/202510-Q
03/31/202505/01/202510-Q
12/31/202402/28/202510-K
09/30/202411/01/202410-Q
06/30/202408/06/202410-Q
03/31/202405/02/202410-Q
12/31/202302/28/202410-K
09/30/202311/01/202310-Q
06/30/202308/04/202310-Q
03/31/202305/03/202310-Q
12/31/202202/27/202310-K
09/30/202211/02/202210-Q
06/30/202208/04/202210-Q
03/31/202205/03/202210-Q
12/31/202102/25/202210-K
09/30/202111/02/202110-Q
06/30/202108/03/202110-Q
03/31/202105/04/202110-Q
12/31/202002/26/202110-K
09/30/202011/02/202010-Q
06/30/202007/31/202010-Q
03/31/202005/11/202010-Q
12/31/201902/27/202010-K

Recent Forward Guidance

Updated 11/4/2026

Latest: Q3 2026 Earnings Reported 10/28/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Net operating revenueReported6.45 Bil6.47 Bil6.50 Bil0.4% RaisedGuidance: 6.45 Bil for 2026
2026 Adjusted EBITDAReported1.40 Bil1.41 Bil1.42 Bil1.8% RaisedGuidance: 1.38 Bil for 2026
2026 Interest expense and amortization of debt discounts and feesReported 130.00 Mil    
2026 Amortization of debt-related itemsReported 10.00 Mil    
2026 Adjusted earnings per share from continuing operations attributable to Encompass HealthReported6.236.36.372.7% RaisedGuidance: 6.14 for 2026


Prior: Q2 2026 Earnings Reported 8/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Net operating revenueReported6.41 Bil6.45 Bil6.49 Bil0.4% RaisedGuidance: 6.42 Bil for 2026
2026 Adjusted EBITDAReported1.36 Bil1.38 Bil1.40 Bil1.1% RaisedGuidance: 1.36 Bil for 2026
2026 Adjusted earnings per share from continuing operations attributable to Encompass HealthReported6.026.146.252.2% RaisedGuidance: 6 for 2026

Q1 2026 Earnings Reported 4/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Net operating revenueReported6.38 Bil6.42 Bil6.47 Bil0.1% RaisedGuidance: 6.42 Bil for 2026
2026 Adjusted EBITDAReported1.35 Bil1.36 Bil1.38 Bil0.4% RaisedGuidance: 1.36 Bil for 2026
2026 Adjusted earnings per share from continuing operations attributable to Encompass HealthReported5.8966.110.8% RaisedGuidance: 5.96 for 2026

Q4 2025 Earnings Reported 2/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Net operating revenueReported6.37 Bil6.42 Bil6.46 Bil8.2% Higher NewActual: 5.93 Bil for 2025
2026 Adjusted EBITDAReported1.34 Bil1.36 Bil1.38 Bil9.2% Higher NewActual: 1.25 Bil for 2025
2026 Interest expense and amortization of debt discounts and feesReported 120.00 Mil -4.0% Lower NewActual: 125.00 Mil for 2025
2026 Amortization of debt-related itemsReported 10.00 Mil 0 Same NewActual: 10.00 Mil for 2025
2026 Adjusted earnings per share from continuing operations attributable to Encompass HealthReported5.815.966.112.5% Higher NewActual: 5.3 for 2025

Insider Activity

Updated 10/19/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Price, Andrew LChief Accounting OfficerDirectSell9012026120.935,211630,1668,402,579Form
2Darby, John PatrickEVP, Gen Counsel & SecretaryDirectSell9012026121.094,858588,2559,086,715Form
3Coltharp, Douglas EEVP & Chief Financial OfficerDirectSell8112026125.3818,8692,365,7956,332,693Form
4Tarr, Mark JPresident & CEODirectSell8112026125.47173,14821,724,09533,601,410Form
5Darby, John PatrickEVP, Gen Counsel & SecretaryDirectSell8112026125.958,9061,121,7119,451,414Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Price, Andrew LChief Accounting OfficerDirectSell9012026120.935,211630,1668,402,579Form
2Darby, John PatrickEVP, Gen Counsel & SecretaryDirectSell9012026121.094,858588,2559,086,715Form
3Coltharp, Douglas EEVP & Chief Financial OfficerDirectSell8112026125.3818,8692,365,7956,332,693Form
4Tarr, Mark JPresident & CEODirectSell8112026125.47173,14821,724,09533,601,410Form
5Darby, John PatrickEVP, Gen Counsel & SecretaryDirectSell8112026125.958,9061,121,7119,451,414Form
6Coltharp, Douglas EEVP & Chief Financial OfficerDirectSell5182026106.8327,6942,958,5507,411,546Form
7Tuer, Patrick WilliamEVP, Chief Operating OfficerDirectSell5122026104.5668271,3102,588,383Form
8Fay, EdmundSr. Vice Pres. and TreasurerDirectSell3102026107.0011,9371,277,2599,557,775Form
9Tarr, Mark JPresident & CEODirectSell2122026111.64150,00016,746,68842,097,825Form
10Tuer, Patrick WilliamEVP, Chief Operating OfficerDirectSell2102026107.622,804301,7661,726,440Form
Core Cache Last Updated: 11/9/2026