BrightSpring Health Services, I
BTSG
Jodie read · what matters now
Revenue jumped 28.2% to $12.9B in 2025 and margins edged up, but the company trades at an 84.0x P/E and has been issuing shares and tinkering with financing, a tidy tension between momentum and valuation.
The story is only the start. Jodie keeps watching the filing evidence, the companies connected to BTSG, and whether its market group begins moving.
Earlier comparable assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-05-01 against the comparable filing from 2025-05-02.
A newer Struct brief is shown above. This older assessment remains here for comparison, not as the current read.
What improved
- Revenue increased 25.6% versus the comparable filing period.
- Operating margin improved 1.6 percentage points.
- Net income increased 403.6% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“The change was primarily due to the following: • a $70.7 million increase in operating income from continuing operations in 2026 as compared to 2025; • a $11.1 million decrease in cash outflows for interest, net primarily as a result of a reduction in the variable interest rates applicable to our outstanding term debt; offset by • a $0.2 million increase in cash outflows for income taxes; • a $48.5 million increase in cash outflows for employee incentives paid in the first fiscal quarter of 2026; and • a $17.0 million increase in transaction costs related to the closing of the Community Living divestiture in the first fiscal quarter of 2026.”
“The increase was primarily due to proceeds from the sale of our Community Living business of $810.9 million, offset by a $35.4 million decrease in cash paid for acquisitions in 2026 compared to 2025.”
“The $8.8 million increase in the income tax expense is primarily driven by the increase in pre-tax book income for the three months ended March 31, 2026 as compared to the three months ended March 31, 2025, and an increase in the effective tax rate for the three months ended March 31, 2026 of 10.3% compared to (2.7)% for the three months ended March 31, 2025.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Who this business touches
The relationships behind BTSG
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
Depended on by
Filing peers
Companies whose filings use similar operating language.
You can see the shape of the network here. Pro opens 13 more links, the original filing receipts, and alerts when connected names begin moving. See Pro →
What is moving around it
Live connections
BTSG is currently a Leader in the organic co-movement group Community-Based Healthcare. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for BTSG; it is not active in the latest market snapshot.
Theme membership history
No durable theme membership has been observed for this name yet.