agilon health, inc. (AGL) Stock Price & How to Invest
Last updated July 2026
Short answer
agilon health (AGL) is a value-based care company that partners with primary-care physician groups to manage senior patients under Medicare, so it is a turnaround story on whether a disciplined shift toward profitable membership can finally convert billions in revenue into durable earnings. It trades as a small-cap tied to Medicare Advantage economics and medical-cost trends.
AGL stock price
As of 2026-07-17, agilon health, inc. (AGL) last closed at $129.84, up 145.0% over the past year. Over the past 52 weeks it has traded between $7.91 and $129.84.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or agilon health, inc.'s investor relations page. Walnut is informational, not investment advice.
What does agilon health, inc. (AGL) do?
agilon health provides a platform, capital, and technology that let community primary-care physician groups take on full financial risk for their senior patients, mostly Medicare Advantage members plus ACO REACH beneficiaries. Instead of fee-for-service billing, agilon and its partner doctors are paid a fixed amount per member and keep the difference if they keep patients healthy and out of the hospital. The model scales through long-term partnerships in individual markets, and the company reports total platform membership around 536,000, including roughly 426,000 Medicare Advantage members and 110,000 in the ACO model.
The investment picture is a turnaround. After large losses in prior years (a full-year 2025 net loss of roughly $391 million), agilon has deliberately exited unprofitable payer contracts and markets, letting membership shrink to rebuild unit economics. Q1 2026 showed the early payoff: net income turned positive, adjusted EBITDA and medical margin rose sharply, and full-year revenue and profit guidance was raised. The core question for investors is whether medical-cost trends stay contained and the smaller, higher-quality book compounds into consistent profitability, or whether Medicare Advantage rate and utilization pressure erodes the improvement.
What's driving agilon health, inc. (AGL)?
1. Margin-over-growth reset
agilon has shifted from chasing membership to prioritizing profitable contracts, exiting weaker payer relationships and markets. This shrank Medicare Advantage membership by double digits but drove medical margin and adjusted EBITDA sharply higher in early 2026. The thesis is that a smaller, cleaner book can compound into durable earnings.
2. Improving risk-adjustment and contracting
Higher estimated risk scores, CMS benchmark benefits, and newly signed full-risk payer contracts supported a raised 2026 outlook. Getting paid appropriately for the acuity of its senior patients is central to the model, and better data and contracting terms directly lift medical margin per member.
3. Multi-year value-based care tailwind
The broader shift of Medicare from fee-for-service toward value-based, capitated care is a structural tailwind for physician-enablement platforms. agilon's long-term, market-by-market partnerships with independent primary-care groups position it to add members as more physicians take on risk.
4. Path to sustained profitability
Q1 2026 delivered positive net income and a large jump in adjusted EBITDA off a low base, with guidance for full-year adjusted EBITDA turning positive. The outlook hinges on holding these gains across all four quarters rather than in a single seasonally favorable period.
What are the risks to agilon health, inc. (AGL)?
agilon carries meaningful medical-cost-trend risk: because it is paid a fixed amount per member, an unexpected rise in senior utilization or unit costs can swing it back to losses, which is what drove heavy prior-year losses. It is exposed to Medicare Advantage rate decisions, risk-adjustment methodology changes, and V28 model phase-in that pressure per-member revenue across the sector. The turnaround is early and depends on membership stabilizing after deliberate cuts, so profitability is not yet proven across a full year. As a small-cap with a modest share count, the stock can be volatile, and any single large market or payer contract going wrong is material. Historically it has been unprofitable on a GAAP full-year basis.
How is agilon health, inc. (AGL) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see agilon health, inc.'s investor relations page or your broker.
- Revenue (TTM): ~$5.8B
- 2026 revenue guidance: ~$5.68B to $5.81B
- Q1 2026 revenue: ~$1.42B (down ~7% YoY)
- Q1 2026 net income: ~$49M (vs ~$12M a year earlier)
- Adjusted EBITDA guidance (2026): ~$10M to $40M
- Market cap: ~$1.8B
agilon generates billions in revenue but has historically run at a loss, posting a full-year 2025 net loss of roughly $391 million before turning to positive net income in Q1 2026. Because the company is in an early turnaround with thin projected EBITDA margins, valuation is driven more by revenue scale and the credibility of the profitability path than by current earnings multiples. Investors typically watch medical margin and membership trends rather than headline revenue growth, which is declining by design.
Who competes with agilon health, inc. (AGL)?
Physician-enablement and value-based care platforms
Companies that, like agilon, equip physician groups to take on risk, including Privia Health, Evolent Health, Aledade, and Astrana Health (formerly Apollo Medical). They compete for physician partnerships and payer contracts in the shift away from fee-for-service.
Senior-focused and Medicare Advantage care operators
Alignment Healthcare, Clover Health, Devoted Health, and the Oak Street Health model (now part of CVS) pursue capitated senior care, sometimes owning clinics or plans directly. They overlap with agilon's Medicare-centric, risk-bearing focus.
Payers and integrated insurers
Large Medicare Advantage insurers such as Humana and UnitedHealth's Optum both contract with agilon and increasingly build or buy their own value-based provider assets, making them partners and competitors at once.
How to invest in agilon health, inc. (AGL)
There are three common ways to get AGL exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so AGL sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where AGL fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on agilon health, inc. (AGL)
AGL is a large-revenue, historically-unprofitable value-based care operator now prioritizing margin over growth, making it a bet on the turnaround holding.
More on agilon health, inc. (AGL)
Whether AGL is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is AGL a buy?, and where the stock could go from here in the AGL stock forecast.
For income investors, whether AGL pays a dividend and how the payout looks is covered in does AGL pay a dividend?
Build a basket around AGL with Walnut
Use agilon health, inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does agilon health do?
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agilon partners with community primary-care physician groups and gives them the platform, capital, and data to manage their senior patients under value-based, capitated Medicare contracts. Instead of billing per visit, agilon and its doctors are paid a fixed amount per member and keep savings when they keep patients healthier.
Is agilon health profitable?
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Historically no. agilon posted large GAAP losses in prior years, including a roughly $391 million net loss for full-year 2025. It reported positive net income of about $49 million in Q1 2026 and guided to positive full-year adjusted EBITDA, but sustained annual profitability is not yet proven.
Why is agilon's revenue and membership shrinking?
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By design. Management deliberately exited unprofitable payer contracts and markets to prioritize margin over growth, which cut Medicare Advantage membership by double digits. The goal is a smaller, higher-quality book with better medical margin per member rather than maximizing top-line revenue.
How big is agilon health?
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It generates around $5.8 billion in annual revenue and serves roughly 536,000 platform members, including about 426,000 Medicare Advantage members and 110,000 ACO model beneficiaries. As of July 2026 its market cap was around $1.8 billion, making it a small-cap relative to its revenue.
What are the main risks for AGL?
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The biggest is medical-cost-trend risk: because agilon is paid a fixed amount per member, higher-than-expected senior utilization can push it back into losses. It also faces Medicare Advantage rate cuts, risk-adjustment model changes (V28), and execution risk on an early turnaround where profitability is not yet consistent.
Who are agilon health's competitors?
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Physician-enablement peers like Privia Health, Evolent Health, Aledade, and Astrana Health; senior-care operators such as Alignment Healthcare, Clover Health, Devoted Health, and the Oak Street model; and large Medicare Advantage payers like Humana and UnitedHealth's Optum that both partner with and compete against it.
What is value-based care and why does it matter for AGL?
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Value-based care pays providers to keep patients healthy and control total cost, rather than paying per service. agilon's entire model depends on this shift in Medicare, so the structural move away from fee-for-service is the tailwind that could grow membership as more physicians take on financial risk.
How can someone invest in AGL through Walnut?
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AGL trades on the NYSE, so it can be added as a constituent in a thematic basket alongside other value-based care or healthcare names and tracked against a stated thesis. Walnut is not an investment adviser and does not tell you whether to hold AGL; it helps you organize and monitor positions you choose.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with agilon health, inc.'s investor relations page or your broker before making investment decisions.