Filing Flows › Addus HomeCare (ADUS) › Takeover & LBO
Is Addus HomeCare (ADUS) a takeover target?
A leveraged buyout at today's price plus 30% ($163.20 a share) would return about 4% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%. Historically 3.4% of companies with its figures were bought within a year (0.68× the average). Latest signal (2026-11-03): ADDUS HOMECARE ANNOUNCES THIRD QUARTER.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $163.20 | today's $125.54 plus 30% |
| × shares | 18.6 million | |
| = Equity value | $3.0B | |
| + Debt refinanced | $21.9M | |
| − Cash | $98.5M | |
| = Enterprise value | $3.0B | 17.2× EBITDA of $172M |
| Fees | $59.1M | 2% of the price |
| New debt | $944M | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $2.1B | 69% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $1.6B | $185M | $72.2M | $68.1M | $875M |
| Year 2 | $1.7B | $198M | $67.0M | $82.1M | $793M |
| Year 3 | $1.8B | $209M | $60.7M | $96.0M | $697M |
| Year 4 | $1.9B | $218M | $53.3M | $110M | $588M |
| Year 5 | $2.0B | $224M | $45.0M | $123M | $465M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 13.1× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $2.9B | |
| − Debt left | $465M | |
| = Buyer's equity | $2.5B | |
| Money multiple | 1.20× | on $2.1B put in |
| Buyer's yearly return (IRR) | 3.7% |
Price against return
What the buyer makes at other premiums over today's $125.54.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $138.09 | 9.2% |
| 20% | $150.65 | 6.2% |
| 30% | $163.20 | 3.7% |
| 40% | $175.76 | 1.4% |
| 50% | $188.31 | −0.5% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $1.5B | |
| EBITDA, last 12 months | $172M | 11.4% of revenue |
| Depreciation and amortization | $16.4M | |
| Capital spending | $7.8M | |
| Debt | $21.9M | |
| Cash | $98.5M | |
| Share price | $125.54 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 26% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Addus HomeCare would cost about $169.48 a share, $3.1B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 22% | $153.16 | $2.8B |
| Median | 35% | $169.48 | $3.1B |
| High end (a quarter paid more) | 45% | $182.03 | $3.4B |
The odds, from history
Historically 3.4% of companies with its figures were bought within a year (0.68× the average). Its figures put it in decile 3 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-11-03 · 8-K deal · ADDUS HOMECARE ANNOUNCES THIRD QUARTER
Addus HomeCare's latest quarter
Addus HomeCare, Q3 2026: revenue $388M (+7% year over year), operating margin 10.3%, net earnings $28.6M, operating cash flow $40.9M. The chart follows the revenue to costs, profit and cash.
Questions
Is Addus HomeCare being acquired?
The latest signal on file is from 2026-11-03: ADDUS HOMECARE ANNOUNCES THIRD QUARTER. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy Addus HomeCare?
A leveraged buyout at today's price plus 30% ($163.20 a share) would return about 4% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%.
What would a takeover of Addus HomeCare cost?
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Addus HomeCare would cost about $169.48 a share, $3.1B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.