COMMUNITY HEALTH SYSTEMS INC CYH
We are one of the nation's largest healthcare companies. Our affiliates are leading providers of healthcare services, developing and operating healthcare delivery systems in 36 distinct markets across 14 states. At December 31, 2025, our subsidiaries own or lease 69 affiliated hospitals, with more than 10,000 beds, and operate more than 1,000 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers. We generate revenues by providing a broad range of general and specialized hospital healthcare services and outpatient services to patients in the communities in which we are located. For the hospitals and other sites of care that we own and operate, we are paid for our services by governmental agencies, private insurers and directly by the patients we serve. Services provided through our hospitals and outpatient facilities include general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric and rehabilitation services. An integral part of providing these services is our network of affiliated physicians at our hospitals and affiliated businesses. At December 31, 2025, we employed approximately 1,700 physicians and an additional 1,400 licensed healthcare practitioners. Through our management and operation of these businesses, we provide standardization and centralization of operations across key business areas; strategic assistance to expand and improve services and facilities; implementation of patient safety and quality of care improvement programs and assistance in the recruitment of additional physicians and licensed healthcare practitioners to the markets in which our hospitals are located. In a number of our markets, we have partnered with local physicians, for-profit entities and/or not-for-profit providers in the ownership of our facilities.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.48B | $12.63B | $12.49B | $12.21B | $12.37B | $11.79B | $13.21B | $14.15B | $15.35B | $18.44B |
| Cost of revenue | $1.86B | $1.95B | $1.99B | $1.98B | $2.04B | $1.96B | $2.15B | $2.35B | $2.67B | $3.01B |
| Gross profit | $10.62B | $10.69B | $10.50B | $10.24B | $10.33B | $9.83B | $11.06B | $11.80B | $12.68B | $15.43B |
| Total operating expenses | $11.00B | $12.09B | $11.53B | $11.39B | $10.97B | $10.66B | $12.56B | $13.95B | $17.23B | $19.30B |
| Operating income | $1.49B | $542.0M | $957.0M | $821.0M | $1.40B | $1.13B | $650.0M | $208.0M | -$1.88B | -$860.0M |
| Pre-tax income | $724.0M | -$283.0M | $207.0M | $349.0M | $499.0M | $422.0M | -$430.0M | -$715.0M | -$2.83B | -$1.72B |
| Income tax | $48.0M | $79.0M | $191.0M | $170.0M | $131.0M | $185.0M | $160.0M | $11.0M | $449.0M | $104.0M |
| Net income | $509.0M | -$516.0M | -$133.0M | $46.0M | $230.0M | $511.0M | -$675.0M | -$788.0M | -$2.46B | -$1.72B |
| EPS, basic | 3.81 | -3.90 | -1.02 | 0.35 | 1.82 | 4.43 | -5.93 | -6.99 | -22.00 | -15.54 |
| EPS, diluted | 3.77 | -3.90 | -1.02 | 0.35 | 1.76 | 4.39 | -5.93 | -6.99 | -22.00 | -15.54 |
| Shares, diluted (wtd. avg.) | $135.0M | $132.1M | $130.4M | $130.1M | $130.6M | $116.5M | $113.7M | $112.7M | $111.8M | $110.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $260.0M | $37.0M | $38.0M | $118.0M | $507.0M | $1.68B | $216.0M | $196.0M | $563.0M | $238.0M |
| Receivables | $2.08B | $2.29B | $2.23B | $2.04B | $2.06B | $1.93B | $2.26B | $2.35B | $2.38B | $3.18B |
| Total current assets | $3.23B | $3.30B | $3.21B | $3.08B | $3.48B | $4.51B | $3.43B | $3.55B | $4.07B | $4.67B |
| Property, plant and equipment | $4.50B | $4.78B | $5.21B | $5.37B | $5.55B | $5.32B | $5.61B | $6.14B | $7.05B | $8.15B |
| Goodwill | $3.32B | $3.79B | $3.96B | $4.17B | $4.22B | $4.22B | $4.33B | $4.56B | $4.72B | $6.52B |
| Other intangibles | $7.0M | $15.0M | $20.0M | $2.0M | — | — | — | — | $10.0M | $14.0M |
| Total assets | $13.20B | $14.05B | $14.46B | $14.67B | $15.22B | $16.01B | $15.61B | $15.86B | $17.45B | $21.94B |
| Accounts payable | $842.0M | $913.0M | $912.0M | $773.0M | $830.0M | $783.0M | $811.0M | $887.0M | $967.0M | $995.0M |
| Total current liabilities | $2.21B | $2.35B | $2.14B | $2.19B | $2.36B | $2.81B | $2.28B | $2.39B | $2.36B | $2.89B |
| Long-term debt | $10.38B | $11.43B | $11.47B | $11.61B | $12.11B | $12.09B | $13.38B | $13.39B | $13.91B | $15.24B |
| Total liabilities | $14.04B | $15.37B | $15.28B | $15.40B | $16.03B | $17.06B | $17.25B | $16.82B | $17.61B | $19.66B |
| Retained earnings | -$3.57B | -$4.08B | -$3.56B | -$3.43B | -$3.48B | -$3.71B | -$4.22B | -$3.54B | -$2.76B | -$299.0M |
| Total equity | -$1.39B | -$1.91B | -$1.15B | -$1.27B | -$1.29B | -$1.54B | -$2.14B | -$1.46B | -$692.0M | $1.73B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $543.0M | $480.0M | $210.0M | $300.0M | -$131.0M | $2.18B | $385.0M | $274.0M | $773.0M | $1.14B |
| Depreciation and amortisation | — | — | — | — | — | — | $608.0M | $700.0M | $861.0M | $1.10B |
| Stock-based compensation | $11.0M | $17.0M | $22.0M | $20.0M | $25.0M | $13.0M | $10.0M | $13.0M | $24.0M | $46.0M |
| Capital expenditure | $335.0M | $360.0M | $467.0M | $415.0M | $469.0M | $440.0M | $438.0M | $527.0M | $564.0M | $744.0M |
| Investing cash flow | $847.0M | -$275.0M | -$26.0M | -$259.0M | -$524.0M | $177.0M | -$2.0M | -$245.0M | $1.07B | $630.0M |
| Financing cash flow | -$1.17B | -$206.0M | -$264.0M | -$430.0M | -$514.0M | -$895.0M | -$363.0M | -$396.0M | -$1.52B | -$1.71B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-059509.
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