Apollo Medical Holdings Inc Stock Research

Market Summary

USD31.27+0.17

Delayed

0.55%

AMEH Alerts

Big jump in Revenue (Y/Y)

AMEH Stock Price

AMEH RSI Chart

AMEH Valuation

Market Cap

1.5B

Price/Earnings (Trailing)

29.48

Price/Sales (Trailing)

1.2

EV/EBITDA

10.25

Price/Free Cashflow

26.81

AMEH Price/Sales (Trailing)

AMEH Profitability

EBT Margin

0.73%

Return on Equity

8.84%

Return on Assets

5.09%

Free Cashflow Yield

3.73%

AMEH Fundamentals

AMEH Revenue

Revenue (TTM)

1.2B

Revenue Y/Y

28.1%

Revenue Q/Q

14.63%

AMEH Earnings

Earnings (TTM)

49.4M

Earnings Y/Y

2.51%

Earnings Q/Q

662.38%

Price Action

52 Week Range

26.8958.00

(Low)(High)

Last 7 days

-6.2%

Last 30 days

-11.9%

Last 90 days

-11.8%

Trailing 12 Months

-12.1%

AMEH Financial Health

Current Ratio

2.95

AMEH Investor Care

Shares Dilution (1Y)

4.36%

Diluted EPS (TTM)

1.08

Peers (Alternatives to Apollo Medical Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
UNH	448.8B	335.9B	-0.30%	-2.84%	21.68	1.34	12.90%	18.65%
CI	91.1B	183.0B	-1.64%	-7.76%	13.64	1.92	3.34%	24.58%
CVS	86.5B	330.9B	-6.39%	-30.02%	21.72	0.26	10.37%	-50.26%
HUM	65.7B	95.6B	-1.75%	10.00%	23.41	0.71	10.74%	2.64%
CNC	34.6B	146.3B	-5.87%	-23.41%	23.33	0.24	9.81%	-0.94%
MID-CAP
LHCG	5.2B	2.3B	3.17%	35.63%	86.23	2.28	2.85%	-58.05%
HQY	4.7B	861.7M	2.36%	-9.64%	-178.64	5.42	13.90%	40.97%
PDCO	2.6B	6.4B	0.49%	-14.18%	13.26	0.41	-0.52%	16.73%
SMALL-CAP
RDNT	1.7B	1.5B	6.01%	44.82%	-126.07	1.14	10.24%	-173.11%
AMEH	1.5B	1.2B	-11.87%	-12.06%	29.48	1.2	41.46%	-34.10%
ADUS	1.4B	976.1M	-21.09%	3.91%	28.65	1.47	10.19%	12.37%
AHCO	1.4B	3.0B	-8.71%	-40.99%	31.6	0.47	12.33%	-78.12%
BKD	645.6M	2.9B	-18.53%	-39.08%	-3.53	0.22	7.97%	-101.02%
JYNT	203.8M	107.9M	-12.73%	-11.73%	55.31	1.89	25.86%	-9.15%

Financials for Apollo Medical Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	6.5%	1,218	1,144	1,045	955	861
S&GA Expenses	11.9%	87.00	78.00	70.00	70.00	65.00
EBITDA	43.7%	112	78.00	30.00	82.00	-
EBITDA Margin	-84.3%	0.01*	0.10*	-	-	-
Earnings Before Taxes	1.3%	88.00	87.00	54.00	7.00	75.00
EBT Margin	-91.6%	0.01*	0.09*	-	-	-
Interest Expenses	27.7%	10.00	8.00	6.00	5.00	5.00
Net Income	0.7%	49.00	49.00	65.00	74.00	75.00
Net Income Margin	-11.4%	0.08*	0.09*	-	-	-
Free Cahsflow	248.5%	59.00	-39.86	41.00	48.00	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	3.0%	993	964	943	951	912
Current Assets	5.2%	458	435	444	461	444
Cash Equivalents	-4.7%	275	288	184	234	238
Goodwill	0.1%	276	276	257	253	252
Liabilities	4.9%	415	395	390	425	381
Current Liabilities	12.0%	165	147	156	185	160
LT Debt, Current	0.3%	1.00	1.00	3.00	2.00	2.00
LT Debt, Non Current	0.8%	205	203	199	199	183
Shareholder's Equity	1.9%	563	553	510	486	480
Retained Earnings	7.6%	207	193	195	169	158
Additional Paid-In Capital	-2.1%	353	360	315	311	316
Shares Outstanding	3.8%	47.00	45.00	45.00	45.00	-
Minority Interest	44.0%	3.00	2.00	3.00	6.00	6.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-19.9%	66.00	82.00	-15.00	72.00	84.00
Share Based Compensation	2.4%	16.00	16.00	13.00	11.00	8.00
Cashflow From Investing	80.0%	-1.42	-7.11	19.00	14.00	-3.88
Cashflow From Financing	-38.0%	-27.72	-20.08	-24.52	-29.29	-48.48
Dividend Payments	10.7%	14.00	13.00	23.00	32.00	-
Buy Backs	-2.5%	9.00	9.00	10.00	12.00	6.00

Risks for AMEH

What is the probability of a big loss on AMEH?

91.9%

Probability that Apollo Medical Holdings stock will be more than 20% underwater in next one year

91.2%

Probability that Apollo Medical Holdings stock will be more than 30% underwater in next one year.

68.8%

Probability that Apollo Medical Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AMEH drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Apollo Medical Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for AMEH

Cumulative Returns on AMEH

47.1%

10-Year Cumulative Returns

18.1%

5-Year Cumulative Returns

20.5%

3-Year Cumulative Returns

What are the long-term rolling returns for AMEH?

FIve years rolling returns for Apollo Medical Holdings.

Annualized Returns

Which funds bought or sold AMEH recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-3.46	871,263	5,464,260	-%
2023-05-18	JPMORGAN CHASE & CO	added	16.72	926,000	3,039,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-26.65	-80,000	746,000	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-4.31	216,000	1,421,000	-%
2023-05-16	JANE STREET GROUP, LLC	added	100	462,210	776,811	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	new	-	631,004	631,004	-%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-71,000	-	-%
2023-05-16	HANCOCK WHITNEY CORP	reduced	-12.67	38,000	546,000	0.02%
2023-05-15	VANGUARD GROUP INC	added	6.18	40,544,300	171,893,000	-%
2023-05-15	PNC Financial Services Group, Inc.	added	78.8	36,795	67,361	-%

Latest Funds Activity

Are funds buying AMEH calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AMEH

No. of Funds

AMEH Alerts

Big jump in Revenue (Y/Y)

Apollo Medical Holdings News

Schedule 13G FIlings of Apollo Medical Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	7.83%	4,438,955	SC 13G/A
Jan 26, 2023	blackrock inc.	11.5%	6,514,440	SC 13G/A
Jan 20, 2023	blackrock inc.	11.5%	6,514,440	SC 13G/A
Feb 09, 2022	vanguard group inc	7.02%	3,897,315	SC 13G
Jan 28, 2022	blackrock inc.	10.7%	5,960,508	SC 13G/A
Oct 08, 2021	blackrock inc.	10.6%	5,867,352	SC 13G
Jul 08, 2021	allied physicians of california, a profession medical corp	20.0%	10,993,301	SC 13D/A
Feb 25, 2020	allied physicians of california, a profession medical corp	33.0%	17,517,288	SC 13D/A
Feb 24, 2020	lam thomas s.	3.7%	1,966,907	SC 13D/A
Feb 24, 2020	sim kenneth t.	3.7%	1,960,856	SC 13D/A

AMEH Fair Value

Apollo Medical Holdings fair value in different scenarios

The table shows the Fair Value estimates for Apollo Medical Holdings for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	32.25 3.13%	40.64 29.96%	72.34 131.34%	117.74 276.53%	196.51 528.43%
Very High Inflation	- -	- -	- -	- -	- -

Historical Apollo Medical Holdings Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Apollo Medical Holdings

View All Filings

Date Filed	Form Type	Document
May 25, 2023	4	Insider Trading
May 25, 2023	4	Insider Trading
May 10, 2023	10-Q	Quarterly Report
May 08, 2023	8-K	Current Report
Apr 28, 2023	DEF 14A	DEF 14A
Mar 15, 2023	4	Insider Trading
Mar 13, 2023	8-K	Current Report
Mar 13, 2023	4	Insider Trading
Mar 01, 2023	10-K	Annual Report
Feb 23, 2023	8-K	Current Report

Latest Insider Trading transactions for AMEH

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-14	Marsh Linda	back to issuer	-9,539,260	35.32	-270,081	-
2023-03-09	Marsh Linda	acquired	625,000	10.00	62,500	-
2022-12-12	Vong John	acquired	-	-	4,164	svp-chief accounting officer
2022-12-08	Sim Kenneth T.	acquired	1,048,910	10.4857	100,032	executive chairman
2022-12-07	ALLIED PHYSICIANS OF CALIFORNIA, A PROFESSION MEDICAL Corp	acquired	1,128,250	10.4857	107,599	president and co-ceo
2022-12-05	Lam Thomas S.	acquired	1,048,860	10.4857	100,028	president and co-ceo
2022-12-02	Lam Thomas S.	sold	-	-	-984,042	president and co-ceo
2022-12-02	Young Albert WaiChow	acquired	-	-	19,506	chief administrative officer
2022-12-02	Sim Kenneth T.	acquired	-	-	37,439	executive chairman
2022-12-02	ALLIED PHYSICIANS OF CALIFORNIA, A PROFESSION MEDICAL Corp	sold	-	-	-984,042	-

About Apollo Medical Holdings

Thomas S. Lam

1130

Apollo Medical Holdings, Inc., a physician-centric technology-powered healthcare company, provides medical care services. The company is leveraging its proprietary population health management and healthcare delivery platform, operates an integrated, value-based healthcare model which empowers the providers in its network to deliver care to its patients. It offers care coordination services to patients, families, primary care physicians, specialists, acute care hospitals, alternative sites of inpatient care, physician groups, and health plans. The company's physician network consists of primary care physicians, specialist physicians, and hospitalists. It serves patients, primarily covered by private or public insurance, such as Medicare, Medicaid, and health maintenance organization plans; and non-insured patients in California. The company was founded in 1994 and is headquartered in Alhambra, California.

AMEH Income Statement

2023-03-31

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Revenue
Total revenue	$ 337,244	$ 263,258
Operating expenses
Cost of services, excluding depreciation and amortization	289,397	220,730
General and administrative expenses	21,182	11,943
Depreciation and amortization	4,292	4,374
Total expenses	314,871	237,047
Income from operations	22,373	26,211
Other (expense) income
Income from equity method investments	2,484	1,433
Interest expense	(3,269)	(1,073)
Interest income	3,009	46
Unrealized loss on investments	(6,392)	(8,962)
Other income	1,204	613
Total other expense, net	(2,964)	(7,943)
Income before provision for income taxes	19,409	18,268
Provision for income taxes	5,102	6,195
Net income	14,307	12,073
Net loss attributable to non-controlling interest	(315)	(2,191)
Net income attributable to Apollo Medical Holdings, Inc.	$ 14,622	$ 14,264
Earnings per share – basic (in dollars per share)	$ 0.31	$ 0.32
Earnings per share – diluted (in dollars per share)	$ 0.31	$ 0.31
Capitation, net
Revenue
Total revenue	$ 300,204	$ 222,060
Risk pool settlements and incentives
Revenue
Total revenue	13,462	18,075
Management fee income
Revenue
Total revenue	9,896	10,473
Fee-for-service, net
Revenue
Total revenue	12,062	11,095
Other income
Revenue
Total revenue	$ 1,620	$ 1,555

AMEH Balance Sheet

2023-03-31

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Mar. 31, 2023

Dec. 31, 2022

Current assets

Cash and cash equivalents

$ 274,613

$ 288,027

Investments in marketable securities

4,114

5,567

Receivables, net

79,003

52,629

Receivables, net – related parties

74,877

65,147

Income taxes receivable

4,015

Other receivables

1,929

1,834

Prepaid expenses and other current assets

22,170

14,798

Loans receivable

973

996

Loan receivable – related party

2,125

Total current assets

457,688

435,138

Non-current assets

Land, property, and equipment, net

113,361

108,536

Intangible assets, net

77,675

76,861

Goodwill

276,028

275,675

Investments in other entities – equity method

43,108

40,299

Investments in privately held entities

896

Operating lease right-of-use assets

18,431

20,444

Other assets

5,441

6,056

Total non-current assets

534,940

528,767

Total assets

^[1]

992,628

963,905

Current liabilities

Accounts payable and accrued expenses

49,486

49,562

Fiduciary accounts payable

8,976

8,065

Medical liabilities

101,394

84,253

Dividend payable

664

Finance lease liabilities

579

594

Operating lease liabilities

3,234

3,572

Current portion of long-term debt

621

619

Total current liabilities

164,954

147,329

Non-current liabilities

Deferred tax liability

3,695

3,042

Finance lease liabilities, net of current portion

1,136

1,275

Operating lease liabilities, net of current portion

18,164

19,915

Long-term debt, net of current portion and deferred financing costs

204,944

203,389

Other long-term liabilities

21,806

20,260

Total non-current liabilities

249,745

247,881

Total liabilities

^[1]

414,699

395,210

Commitments and contingencies (Note 12)

Mezzanine equity

Non-controlling interest in Allied Physicians of California, a Professional Medical Corporation

14,729

13,682

Stockholders’ equity

Common stock, $0.001 par value per share; 100,000,000 shares authorized, 46,488,443 and 46,575,699 shares issued and outstanding, excluding 10,569,340 and 10,299,259 treasury shares, as of March 31, 2023 and December 31, 2022, respectively

Additional paid-in capital

352,697

360,097

Retained earnings

207,300

192,678

Total stockholders’ equity

560,044

552,822

Non-controlling interest

3,156

2,191

Total equity

563,200

555,013

Total liabilities, mezzanine equity and equity

992,628

963,905

Series A Preferred Stock

Stockholders’ equity

Preferred stock

Series B Preferred Stock

Stockholders’ equity

Preferred stock

$ 0

[1]

The Company’s consolidated balance sheets include the assets and liabilities of its consolidated VIEs. The consolidated balance sheets include total assets that can be used only to settle obligations of the Company’s consolidated VIEs totaling $519.9 million and $505.8 million as of March 31, 2023 and December 31, 2022, respectively, and total liabilities of the Company’s consolidated VIEs for which creditors do not have recourse to the general credit of the primary beneficiary of $131.8 million and $129.7 million as of March 31, 2023 and December 31, 2022, respectively. The VIE balances do not include $375.6 million of investment in affiliates and $34.0 million of amounts due from affiliates as of March 31, 2023 and $304.8 million of investment in affiliates and $30.3 million of amounts due from affiliates as of December 31, 2022 as these are eliminated upon consolidation and not presented within the consolidated balance sheets. See Note 16 — “Variable Interest Entities (VIEs)” for further detail.