AdaptHealth Corp.

AI-generated fair value estimate for this company.

Method: 10-year FCF-to-firm DCF: $180M normalized annual unlevered FCF (derived from an estimated ~$480M normalized EBITDA on $3.36B revenue at a ~14% margin, less maintenance capex and cash taxes); 2% growth throughout; 10.5% discount rate; 2% terminal growth; $1,846M net debt ($1.89B total debt less $43M cash); 133.41M shares outstanding.

Reasoning: AdaptHealth is a heavily leveraged home-medical-equipment roll-up currently restructuring (divesting its diabetes segment, cutting guidance) with negative GAAP earnings, so an EBITDA-based unlevered FCF DCF against its large net debt load is more appropriate than an equity-earnings multiple; the high leverage significantly compresses the residual equity value.