Enhabit Inc 2025年度报告

FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2025 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _________ to ________ Commission file number 001-41406 Enhabit, Inc. (Exact name of Registrant as specified in its charter) 47-2409192 (State or other jurisdiction of incorporation ororganization)(I.R.S. Employer Identification Number) 214-239-6500 (Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNo☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days. Yes☒No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☒No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YesNo☒ The aggregate market value of the voting stock held by non-affiliates of the registrant as of the last business day of the registrant’smost recently completed second fiscal quarter was $480.1 million (based on the last reported sale price on the New York Stock Exchangeas of such date). The registrant had outstanding 50,723,245 shares of common stock as of February 26, 2026. Documents Incorporated By Reference Portions of the registrant’s proxy statement for its 2026 Annual Meeting of stockholders are incorporated by reference into Part III. ENHABIT, INC.FORM 10-KFOR THE YEAR ENDED DECEMBER 31, 2025 PART I Item 1BusinessItem 1ARisk FactorsItem 1BUnresolved Staff CommentsItem 1CCybersecurityItem 2PropertiesItem 3Legal ProceedingsItem 4Mine Safety Disclosures PART IIMarket for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Item 5Securities35Item 6[Reserved]36Item 7Management's Discussion and Analysis of Financial Condition and Results of Operations36Item 7AQuantitative and Qualitative Disclosures About Market Risks50Item 8Financial Statements and Supplementary Data50Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure50Item 9AControls and Procedures50Item 9BOther Information51Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections51 PART III Item 10Directors, Executive Officers and Corporate Governance52Item 11Executive Compensation52Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters52Item 13Certain Relationships and Related Transactions, and Director Independence52Item 14Principal Accountant Fees and Services52 NOTE TO REA