Chemed Corp Stock Research

Market Summary

USD518.93+2.84

Market Closed

0.55%

CHE Alerts

1 major insider sales recently.

CHE Stock Price

CHE RSI Chart

CHE Valuation

Market Cap

7.7B

Price/Earnings (Trailing)

30.95

Price/Sales (Trailing)

3.62

EV/EBITDA

19.45

Price/Free Cashflow

30.59

CHE Price/Sales (Trailing)

CHE Profitability

EBT Margin

15.44%

Return on Equity

31.25%

Return on Assets

17.31%

Free Cashflow Yield

3.27%

CHE Fundamentals

CHE Revenue

Revenue (TTM)

2.1B

Revenue Y/Y

1.05%

Revenue Q/Q

3.83%

CHE Earnings

Earnings (TTM)

249.6M

Earnings Y/Y

-16.75%

Earnings Q/Q

9.24%

Price Action

52 Week Range

430.16539.13

(Low)(High)

Last 7 days

1.4%

Last 30 days

2.8%

Last 90 days

2.4%

Trailing 12 Months

8.1%

CHE Financial Health

Current Ratio

0.92

CHE Investor Care

Dividend Yield

0.29%

Dividend/Share (TTM)

1.48

Buy Backs (1Y)

4.48%

Diluted EPS (TTM)

16.53

Peers (Alternatives to Chemed)

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
HCA	70.6B	60.2B	-4.86%	-6.89%	12.5	1.17	2.52%	-18.88%
LH	19.6B	14.9B	-11.65%	-18.57%	15.35	1.32	-7.72%	-46.20%
DGX	15.5B	9.9B	-9.17%	-4.78%	16.43	1.57	-8.39%	-52.58%
MID-CAP
UHS	8.8B	13.4B	-20.72%	-21.03%	13	0.66	5.99%	-31.87%
CHE	7.7B	2.1B	2.79%	8.14%	30.95	3.62	-0.20%	-7.05%
DVA	7.1B	11.6B	-9.20%	-31.27%	12.59	0.61	-0.08%	-42.73%
THC	6.1B	19.2B	-9.72%	-38.02%	6.13	0.32	-1.60%	-32.18%
EHC	5.3B	4.3B	-15.50%	-2.92%	19.39	1.21	8.31%	-34.26%
LHCG	5.2B	2.3B	3.17%	35.63%	86.23	2.28	2.85%	-58.05%
SEM	3.3B	6.3B	-15.00%	4.69%	20.58	0.52	2.08%	-60.47%
SMALL-CAP
TVTY	1.6B	-	0.59%	17.88%	18.77	3.24	-	-
ADUS	1.6B	951.1M	-7.28%	30.41%	34.53	1.67	10.02%	1.99%
RDNT	1.3B	1.4B	12.22%	10.36%	120.12	0.89	8.74%	-56.93%
CYH	724.7M	12.2B	-1.54%	-55.54%	15.75	0.06	-1.27%	-80.00%
SSY	7.5M	45.8M	-2.78%	-21.05%	-2.54	0.16	11.66%	-153.83%

Financials for Chemed

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.3%	2,135	2,129	2,141	2,142	2,139
S&GA Expenses	1.4%	359	354	359	365	367
Costs and Expenses	1.3%	1,791	1,769	1,769	1,790	1,796
EBITDA	-1.8%	393	401	419	408	-
EBITDA Margin	-2.1%	0.18*	0.19*	0.20*	0.19*	-
Earnings Before Taxes	-4.0%	330	343	362	351	350
EBT Margin	-4.3%	0.15*	0.16*	0.17*	0.16*	-
Interest Expenses	30.7%	5.00	4.00	3.00	2.00	2.00
Net Income	-4.8%	250	262	277	267	269
Net Income Margin	-5.0%	0.12*	0.12*	0.13*	0.12*	-
Free Cahsflow	14.8%	253	220	284	249	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	6.3%	1,442	1,356	1,313	1,306	1,343
Current Assets	37.1%	273	199	203	185	230
Cash Equivalents	852.7%	74.00	8.00	10.00	18.00	33.00
Inventory	-1.9%	10.00	10.00	11.00	11.00	10.00
Net PPE	3.1%	200	194	192	192	194
Goodwill	0.2%	581	580	580	580	579
Liabilities	1.3%	643	635	628	639	719
Current Liabilities	-0.3%	297	298	285	280	302
LT Debt, Current	0%	5.00	5.00	5.00	-	-
LT Debt, Non Current	-3.5%	93.00	96.00	112	120	185
Shareholder's Equity	10.7%	799	721	685	667	623
Retained Earnings	2.6%	2,198	2,141	2,090	2,029	1,970
Additional Paid-In Capital	4.5%	1,150	1,100	1,089	1,064	1,044
Accumulated Depreciation	2.3%	338	330	326	318	-
Shares Outstanding	-0.3%	15.00	15.00	15.00	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	13.4%	310	273	334	303	309
Cashflow From Investing	-10.1%	-59.40	-53.96	-50.09	-54.28	-57.76
Cashflow From Financing	12.9%	-209	-240	-366	-440	-380
Dividend Payments	0.3%	22.00	22.00	22.00	22.00	22.00
Buy Backs	-67.0%	115	347	487	563	576

Risks for CHE

What is the probability of a big loss on CHE?

36.1%

Probability that Chemed stock will be more than 20% underwater in next one year

Probability that Chemed stock will be more than 30% underwater in next one year.

Probability that Chemed 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 CHE drawdown profile look like?

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

Drawdowns

Returns for CHE

Cumulative Returns on CHE

21.3%

10-Year Cumulative Returns

21.6%

7-Year Cumulative Returns

13.2%

5-Year Cumulative Returns

7.2%

3-Year Cumulative Returns

What are the long-term rolling returns for CHE?

FIve years rolling returns for Chemed.

Annualized Returns

Which funds bought or sold CHE recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	10.29	26,196,000	116,667,000	0.13%
2023-03-08	Capital Asset Advisory Services LLC	reduced	-59.4	-179,872	201,128	0.02%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-89.92	-26,945,000	3,599,000	0.02%
2023-03-03	TIAA, FSB	sold off	-100	-282,000	-	-%
2023-02-28	Voya Investment Management LLC	reduced	-1.26	251,362	1,877,360	-%
2023-02-24	NATIXIS	new	-	510	510	-%
2023-02-24	SRS Capital Advisors, Inc.	reduced	-2.00	3,029	25,029	-%
2023-02-22	CVA Family Office, LLC	unchanged	-	1,125	6,125	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	reduced	-4.03	132,000	1,215,000	0.01%
2023-02-21	KB FINANCIAL PARTNERS, LLC	unchanged	-	1,000	2,000	-%

Latest Funds Activity

Are funds buying CHE calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CHE

No. of Funds

CHE Alerts

1 major insider sales recently.

Chemed News

Schedule 13G FIlings of Chemed

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	11.38%	1,692,377	SC 13G/A
Jan 24, 2023	blackrock inc.	9.4%	1,399,535	SC 13G
Feb 09, 2022	vanguard group inc	11.31%	1,740,446	SC 13G/A
Feb 01, 2022	blackrock inc.	8.7%	1,343,981	SC 13G/A
Feb 10, 2021	vanguard group inc	11.41%	1,819,635	SC 13G/A
Jan 29, 2021	blackrock inc.	9.2%	1,463,600	SC 13G/A
Feb 12, 2020	vanguard group inc	12.04%	1,928,122	SC 13G/A
Feb 05, 2020	blackrock inc.	9.9%	1,578,926	SC 13G/A

CHE Fair Value

Chemed fair value in different scenarios

The table shows the Fair Value estimates for Chemed 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	203.38 -60.81%	243.73 -53.03%	306.35 -40.97%	407.08 -21.55%	477.46 -7.99%
Very High Inflation	- -	- -	- -	- -	- -

Historical Chemed Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Chemed

View All Filings

Date Filed	Form Type	Document
Mar 10, 2023	4	Insider Trading
Feb 27, 2023	10-K	Annual Report
Feb 23, 2023	8-K	Current Report
Feb 22, 2023	4	Insider Trading
Feb 22, 2023	4	Insider Trading
Feb 22, 2023	4	Insider Trading
Feb 22, 2023	4	Insider Trading
Feb 22, 2023	4	Insider Trading
Feb 22, 2023	4	Insider Trading
Feb 22, 2023	4	Insider Trading

Latest Insider Trading transactions for CHE

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-09	MCNAMARA KEVIN J	sold	-1,014,640	507	-2,000	president and ceo
2023-02-17	Witzeman Michael D	acquired	344,615	515	669	vice president and controller
2023-02-17	WILLIAMS DAVID PATRICK	sold (taxes)	-367,796	515	-714	executive vice president & cfo
2023-02-17	Westfall Nicholas Michael	sold (taxes)	-282,286	515	-548	executive vice president
2023-02-17	HUTTON THOMAS C	acquired	167,929	515	326	vice president
2023-02-17	Witzeman Michael D	sold (taxes)	-103,024	515	-200	vice president and controller
2023-02-17	LEE SPENCER S	sold (taxes)	-161,233	515	-313	executive vice president
2023-02-17	LEE SPENCER S	acquired	419,823	515	815	executive vice president
2023-02-17	Westfall Nicholas Michael	acquired	630,507	515	1,224	executive vice president
2023-02-17	HUTTON THOMAS C	sold (taxes)	-57,693	515	-112	vice president

About Chemed

Kevin J. McNamara

www.chemed.com

14100

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.

CHE Income Statement

2022-12-31

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements Of Income [Abstract]
Service revenues and sales (Note 2)	$ 2,134,963	$ 2,139,261	$ 2,079,583
Cost of services provided and goods sold (excluding depreciation)	1,369,877	1,369,458	1,378,197
Selling, general and administrative expenses	358,727	366,727	330,218
Depreciation	49,102	49,011	46,596
Amortization	10,070	10,040	9,987
Other operating (income)/expenses (Note 20)	3,691	987	(75,095)
Total costs and expenses	1,791,467	1,796,223	1,689,903
Income from operations	343,496	343,038	389,680
Interest expense	(4,584)	(1,868)	(2,355)
Other (expense)/income--net (Note 10)	(9,233)	9,144	8,665
Income before income taxes	329,679	350,314	395,990
Income taxes (Note 11)	(80,055)	(81,764)	(76,524)
Net income	$ 249,624	$ 268,550	$ 319,466
Earnings Per Share (Note 16)
Net income	$ 16.72	$ 17.14	$ 20.02
Average number of shares outstanding	14,929	15,671	15,955
Diluted Earnings Per Share (Note 16)
Net income	$ 16.53	$ 16.85	$ 19.48
Average number of shares outstanding	15,099	15,938	16,398

CHE Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents (Note 9)	$ 74,126	$ 32,895
Accounts receivable	139,408	137,217
Inventories	10,272	10,109
Prepaid income taxes	18,515	17,377
Prepaid expenses	30,291	32,688
Total current assets	272,612	230,286
Investments of deferred compensation plans held in trust (Notes 15 and 17)	93,196	98,884
Properties and equipment, at cost, less accumulated depreciation (Note 13)	199,714	193,680
Lease right of use asset (Note 14)	135,662	125,048
Identifiable intangible assets less accumulated amortization (Note 6)	99,726	108,096
Goodwill	581,295	578,591
Other assets (Note 12)	59,807	8,138
Total Assets	1,442,012	1,342,723
Current liabilities
Accounts payable	41,884	73,024
Current portion of long-term debt	5,000
Income taxes (Note 11)		41
Accrued insurance	58,515	55,918
Accrued compensation	87,350	95,598
Accrued legal	4,456	872
Short-term lease liability (Note 14)	38,996	37,913
Other current liabilities (Note 21)	61,004	39,033
Total current liabilities	297,205	302,399
Deferred income taxes (Note 11)	38,613	23,183
Long-term debt (Note 3)	92,500	185,000
Deferred compensation liabilities (Note 15)	92,330	98,597
Long-term lease liability (Note 14)	110,513	100,629
Other liabilities	12,136	9,642
Total Liabilities	643,297	719,450
Commitments and contingencies (Note 18)
STOCKHOLDERS' EQUITY
Capital stock - authorized 80,000,000 shares $1 par; issued 36,795,792 shares (2021 - 36,513,857 shares)	36,796	36,514
Paid-in capital	1,149,899	1,044,341
Retained earnings	2,197,918	1,970,311
Treasury stock - 21,920,993 shares (2021 - 21,601,325 shares), at cost	(2,588,145)	(2,430,094)
Deferred compensation payable in Company stock (Note 15)	2,247	2,201
Total Stockholders' Equity	798,715	623,273
Total Liabilities and Stockholders' Equity	$ 1,442,012	$ 1,342,723