AGL agilon health, inc.

Overview and Growth

agilon health, inc. generated $5.93B of revenue in fiscal 2025, with net loss of $391.35M and an operating cash outflow of $105.76M. Revenue of $5.93B sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line contracted 2.1% from $6.06B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. Total assets stood at $1.27B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 4.67x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The reported operating result was an operating loss of $463.24M, reflecting costs that exceeded gross profit. An operating margin of -7.8% reflected costs exceeding revenue-level gross profit by 7.8% of sales. After all below-operating-line items, the company recorded a net loss of $391.35M for the fiscal year. The net loss equaled 6.6% of revenue, showing the bottom-line deficit relative to the company’s sales base. Negative EBITDA totaled $434.64M, confirming that the earnings deficit remained before depreciation and amortization. Before income taxes, the company recorded a loss of $404.10M, bridging the operating result to the final net loss. Measured against revenue, the pretax deficit represented 6.8%. The company recognized $1.25M of income tax for the period, completing the transition from pretax income to net income. The loss-to-equity relationship was 308.8%, placing the bottom-line deficit against shareholder capital. Relative to total assets, the net loss represented 30.8%. Compared with a $260.15M net loss in fiscal 2024, the current loss increased to $391.35M.

Liquidity and Capital Structure

Total assets were $1.27B, supported by $1.14B of liabilities and $126.73M of shareholder equity. Current assets were $1.10B against $1.08B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.02x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $173.71M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 16.1% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $34.99M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.28x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 2.8%, comparing borrowing with the total asset balance. The equity-to-assets relationship was 10.0%, placing book capital against the total resource base. Relative to total assets, liabilities measured 90.0%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 13.7%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $1.73B in fiscal 2024, the current asset base moved 26.7% and finished lower. Reported equity changed 73.1% from $470.95M in fiscal 2024, placing the current capital base lower year over year. Compared with $188.23M in fiscal 2024, the current cash balance moved 7.7% and finished lower.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $105.76M, showing that operations absorbed cash during the period. Capital spending of $13.24M added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. The company recorded a $119.00M cash deficit after capital spending for the period. The free-cash-flow deficit equaled 2.0% of revenue, showing the post-investment cash shortfall relative to sales. The free-cash-flow deficit equaled 9.4% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.