Forensic Analysis · Healthcare Providers & Services · as of Nov 9, 2026
Concentra Group Holdings Parent, Inc. (CON)
A forensic read on Concentra Group Holdings Parent, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
1.2
Distress distance
Clean
Earnings quality
3
Forensic signals
49.8%
ROE
13.9%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Concentra Group Holdings Parent, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 1.2, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+12.3%/yr
FY2024–FY2025
Share-count dilution.Diluted share count changed +12% over the last 1 year to FY2025 (+12.3%/yr). The count is growing — 114.2M shares in FY2024, 128.3M in FY2025: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~12.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~11%.
11.5%
FY2025
Return on invested capital.Return on invested capital is 11.5% in the latest fiscal year, close to the 11.1% of FY2024. After-tax operating profit was $226M in FY2024 and $258M in FY2025, with operating income at 16.0% of revenue in FY2024 and 15.4% in FY2025. The capital base behind it grew +10% across FY2024–FY2025, from $2.0B to $2.2B, and the return did not fall doing it, so the dollars added over that window earned at least the 11.1% the older base was already earning.
0.5% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.5% of revenue and 5% of free cash flow in FY2025 — about $0.08 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 12.3% a year across FY2024–FY2025, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
Key fundamentals
Latest Revenue$2.16B
Revenue Growth YoY+13.9%
Net Margin7.7%
Free Cash Flow$197.1M
Return on Equity49.8%
Debt / Equity4.00x
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