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InfuSystem Holdings
(NYSE MKT:INFU)
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Rating:60Neutral
Price Target:
$9.50
▼(-1.04% Downside)
Action:Reiterated
Date:05/20/26
The score is driven primarily by improved profitability and cash generation, reinforced by reiterated guidance and solid liquidity. It is held back by the sharp TTM revenue decline/ongoing GE-related revenue headwind, a rich valuation (high P/E), and only neutral technical momentum.
Positive Factors
Strong cash generation
Consistent TTM operating and free cash flow provide durable internal funding for capital expenditures, working-capital needs, and opportunistic share repurchases. Reliable cash conversion supports financial flexibility, reduces reliance on external funding, and underpins multi-quarter investment in growth and ERP payback.
Negative Factors
GE contract revenue headwind
A recurring $7.1M annual revenue reduction from the GE Healthcare restructuring is a lasting structural headwind that reduces scale and raises the bar for replacement growth. Persistent lost revenue from a large contract highlights customer concentration risk and forces reliance on higher-margin mix shifts to offset top‑line loss.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent TTM operating and free cash flow provide durable internal funding for capital expenditures, working-capital needs, and opportunistic share repurchases. Reliable cash conversion supports financial flexibility, reduces reliance on external funding, and underpins multi-quarter investment in growth and ERP payback.
Read all positive factors
InfuSystem Holdings Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across the company’s different business units, showing where growth is coming from and how concentrated the revenue base is. For InfuSystem, a shift toward recurring service and rental revenue improves predictability, while dependence on a few products or customers raises exposure to reimbursement and procurement cycles.
Breaks down sales across the company’s different business units, showing where growth is coming from and how concentrated the revenue base is. For InfuSystem, a shift toward recurring service and rental revenue improves predictability, while dependence on a few products or customers raises exposure to reimbursement and procurement cycles.
Data provided by:
The Fly
The FlyInfuSystem Holdings (INFU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$202.83M
Dividend YieldN/A
Average Volume (3M)230.29K
Price to Earnings (P/E)26.4
Beta (1Y)1.66
Revenue Growth3.50%
EPS Growth157.81%
CountryUS
Employees502
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.38
Shares Outstanding20,181,704
10 Day Avg. Volume149,159
30 Day Avg. Volume230,291
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)3.23
Price to Sales (P/S)1.29
P/FCF Ratio7.77
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue1.39
Enterprise Value/Gross Profit2.44
Enterprise Value/Ebitda7.63
Forecast
1Y Price Target
$17.50Price Target Upside82.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.43
Revenue Forecast (FY)$144.77M
InfuSystem Holdings Business Overview & Revenue Model
Company Description
InfuSystem Holdings, Inc. delivers infusion pumps, along with associated products and support services, to clients across the United States and Canada. The enterprise operates through two principal divisions: Integrated Therapy Services (ITS) and ...
How the Company Makes Money
InfuSystem makes money primarily by providing infusion pumps and related equipment under service-based arrangements where customers pay for access to devices and accompanying services rather than purchasing the equipment outright. Key revenue stre...
InfuSystem Holdings Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call balanced meaningful operational and financial progress with near-term headwinds. Positives include steady adjusted EBITDA (~$6.3M–$6.4M), improved gross margins, strong liquidity ($57M), rapid wound care growth (≈112% YoY to $2.1M), and a successful ERP go-live that should drive multi-quarter benefits. Offsetting these are GAAP revenue pressure from the GE Healthcare contract restructuring (quarterly reduction of ~$1.6M and an annualized ~$7.1M impact), a 17% decline in Device Solutions revenue, ERP stabilization costs and short-term cash flow/working capital pressures, and the setback on Chemo Mouthpiece coding. Overall, the company appears to be navigating a deliberate transition (mix shift toward higher-margin services and wound care) while absorbing one-time and near-term costs associated with ERP and contract restructurings.Positive Updates
Revenue (Pro Forma) Growth
Reported Q1 FY2026 net revenue of $33.7M; GAAP revenue declined ~ $1.0M (3% YoY), but on a pro forma basis (adjusting for GE Healthcare contract restructuring) revenue grew 1.7% YoY.
Negative Updates
GAAP Revenue Decline and GE Contract Impact
GAAP revenue declined ~$1.0M (3% YoY) in Q1 FY2026. The decline was primarily driven by restructuring of the GE Healthcare biomedical services contract, which reduced revenue by ~$1.6M in the quarter and is expected to lower annual revenue by ~$7.1M on an ongoing basis.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue (Pro Forma) Growth
Reported Q1 FY2026 net revenue of $33.7M; GAAP revenue declined ~ $1.0M (3% YoY), but on a pro forma basis (adjusting for GE Healthcare contract restructuring) revenue grew 1.7% YoY.
Read all positive updates
Company Guidance
InfuSystem reiterated pro forma annual revenue growth of 6%–8% after adjusting for an expected $7.1 million annual revenue reduction from the GE Healthcare contract restructuring, and guided to an adjusted EBITDA margin in the low‑ to mid‑20% range (inclusive of IT/ERP costs). In the first quarter they reported net revenue of $33.7M (GAAP down ~$1.0M, -3%; pro forma +1.7%), adjusted EBITDA of roughly $6.3–6.4M (18.9% margin, vs. 18.2% a year ago), gross profit $19.7M (~58% gross margin, +3.2%), wound care revenue $2.1M (6% of revenue, +~112% YoY with ~60% of that growth from compression devices), and noted the GE restructuring reduced Q1 revenue by about $1.6M; management expects ERP benefits after the March 1, 2026 go‑live (Q1 included ~$400K of IT/project expense) with ERP project costs beginning to taper by end of Q2 and payoff visibility into year‑end and into 2027. They also highlighted operating cash flow of $970K, capex of $1.3M, available liquidity of ~$57M, net debt up ~$1.1M (with net debt/adjusted EBITDA ~0.56x), $20M drawn on a $75M revolver, and an interest‑rate swap fixing that $20M at 3.8% through April 2028.InfuSystem Holdings Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
64
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 142.40M | 143.44M | 134.86M | 125.78M | 109.91M | 102.38M |
| Gross Profit | 80.81M | 80.30M | 70.40M | 63.11M | 60.56M | 58.54M |
| EBITDA | 25.86M | 25.22M | 20.03M | 16.53M | 14.89M | 17.26M |
| Net Income | 7.91M | 6.63M | 2.35M | 872.00K | 18.00K | 1.42M |
Balance Sheet | ||||||
| Total Assets | 98.66M | 100.56M | 103.61M | 102.92M | 99.39M | 97.59M |
| Cash, Cash Equivalents and Short-Term Investments | 2.11M | 3.19M | 527.00K | 231.00K | 165.00K | 186.00K |
| Total Debt | 22.77M | 3.43M | 28.42M | 34.90M | 36.92M | 36.77M |
| Total Liabilities | 39.91M | 43.23M | 46.09M | 50.61M | 51.38M | 49.31M |
| Stockholders Equity | 58.75M | 57.33M | 57.53M | 52.30M | 48.00M | 48.27M |
Cash Flow | ||||||
| Free Cash Flow | 16.49M | 23.85M | 2.63M | 106.00K | 2.44M | 1.66M |
| Operating Cash Flow | 23.60M | 24.41M | 20.46M | 11.22M | 17.52M | 18.32M |
| Investing Cash Flow | -5.39M | -6.79M | -13.24M | -6.73M | -11.48M | -21.32M |
| Financing Cash Flow | -17.61M | -14.96M | -6.92M | -4.42M | -6.06M | -6.46M |
InfuSystem Holdings Technical Analysis
Positive
9.60
Price Trends
9.45
Positive
9.21
Positive
9.33
Positive
Market Momentum
<0.01
Negative
62.44
Neutral
68.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INFU, the sentiment is Positive. The current price of 9.6 is above the 20-day moving average (MA) of 9.07, above the 50-day MA of 9.45, and above the 200-day MA of 9.33, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 62.44 is Neutral, neither overbought nor oversold. The STOCH value of 68.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INFU.
InfuSystem Holdings Risk Analysis
InfuSystem Holdings disclosed 14 risk factors in its most recent earnings report. InfuSystem Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
InfuSystem Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $235.52M | 22.42 | 9.13% | 2.15% | -4.43% | -10.66% | |
60 Neutral | $202.83M | 26.43 | 14.00% | ― | 3.50% | 157.81% | |
54 Neutral | $307.06M | -4.29 | -21.50% | ― | -30.08% | -143.79% | |
53 Neutral | $218.84M | -6.13 | -246.44% | ― | 17.41% | -189.91% | |
52 Neutral | $204.86M | -90.65 | -13.61% | ― | 23.30% | 57.37% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
INFU
InfuSystem Holdings
10.05
3.81
61.06%
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KRMD
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SMTI
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23.88
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-15.89%
InfuSystem Holdings Corporate Events
Business Operations and StrategyStock Buyback
InfuSystem Announces New $20 Million Share Repurchase Program
Positive
May 18, 2026
InfuSystem Holdings, Inc., a national health care service provider focused on outpatient clinic-to-home care for complex durable medical equipment, operates across Patient Services and Device Solutions platforms serving oncology, pain management a...
Executive/Board ChangesShareholder Meetings
InfuSystem Appoints Beverly Huss as New Board Chair
Positive
May 14, 2026
Following InfuSystem Holdings, Inc.’s 2026 Annual Meeting of Stockholders held on May 11, 2026, the board elected director Beverly Huss as Chairman of the Board. The company emphasized that her appointment involved no special arrangements, f...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
InfuSystem Stockholders Approve Expanded Equity Plan and Board
Positive
May 12, 2026
At its 2026 Annual Meeting of Stockholders held on May 11, 2026, InfuSystem stockholders approved a Third Amendment to the 2021 Equity Incentive Plan, lifting the maximum shares of common stock reserved under the plan to 7,000,000. The plan, admin...
Financial Disclosures
InfuSystem Schedules First Quarter 2026 Earnings Release
Neutral
Apr 30, 2026
InfuSystem Holdings, Inc., a national health care service provider focused on outpatient support for durable medical equipment manufacturers and health care providers, operates two main platforms: Patient Services and Device Solutions. Patient Ser...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.