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agilon health

AGL on NYSE. agilon health sells healthcare management services to primary care doctors treating seniors. Market value $1.4bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
-6.1%low

For every $100 of what the whole company costs, it produced $-6.07 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-51.8%five-year median

Each dollar kept in the business earns -52 cents a year. Above 10 is good.

Quality score: 40 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$83.40 a share, 1015% above its 1-year low

Over the past year the price has ranged from $7.48 to $133.04.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.2
-0.1
-0.2
-0.1
-0.1
-0.1
2021202220232024202512 monthsto Jun '26
Revenue
$1.5bn$2.4bn$4.3bn$6.1bn$5.9bn
Operating margin
-24.5%-4.4%-5.4%-4.8%-7.8%
Debt to equity
0.040.040.060.070.28
Shares outstanding
0.41bn0.41bn0.41bn0.41bn0.02bn

Health checks

  • Free cash flow positive0 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)2 of 8 checks we could run
  • Profit backed by cash (accruals)No
  • Debt0.28× equity
  • Revenue growth, five yearsStrong, 40.5% a year
  • Buying back its own sharesYes, 96% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $1.5 billion last quarter, up 7% on a year ago.
  • Profit: $18 million, after a loss of $104 million a year ago.
  • It loses 5 cents on each $1 of sales, compared with 6 cents a year earlier.
  • Over the past 12 months it spent $85 million more cash than it brought in, compared with $72 million a year earlier.
  • 4% more shares than a year ago. Each share owns a bit less of the company.
  • It has $77 million more cash than debt, down from $136 million a year ago.
  • Sales grew on a year ago in 2 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$1.5bn
December 2024$1.5bn
March 2025$1.5bn
June 2025$1.4bn
September 2025$1.4bn
December 2025$1.6bn
March 2026$1.4bn
June 2026$1.5bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$118m
December 2024-$106m
March 2025$12m
June 2025-$104m
September 2025-$110m
December 2025-$189m
March 2026$49m
June 2026$18m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
25 February 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

1 long-term investor we follow owns it, up from 0 last quarter. 179 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

7 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 4 insiders bought $351,030 of shares on the open market.

  • Zamore Denise
    Chief Legal Officer
    Bought
    Date
    9 March 2026
    Shares
    5,535
    Price
    n/a
    Value
    n/a
  • Venkatachaliah Girish
    Chief Technology Officer
    Bought
    Date
    9 March 2026
    Shares
    18,448
    Price
    n/a
    Value
    n/a
  • Shaker Benjamin
    Chief Markets Officer
    Bought
    Date
    9 March 2026
    Shares
    18,448
    Price
    n/a
    Value
    n/a
  • Shaker Benjamin
    Chief Markets Officer
    Bought
    Date
    2 March 2026
    Shares
    500,000
    Price
    $0.60
    Value
    $300,000
  • Wulf John William
    Director
    Bought
    Date
    12 November 2025
    Shares
    81,000
    Price
    $0.63
    Value
    $51,030

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 7 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.