Nutex Health Inc. NUTX

Industrials SIC 7389 - Services-Business Services, NEC NAICS Administrative and Support and Waste Management and Remediation Services › Administrative and Support Services derived Nasdaq

Nutex Health Inc. ("Nutex Health" or the "Company") is a physician-led, healthcare services and operations company with 26 hospital facilities (as of December 31, 2025) in 12 states (hospital division), and a primary care-centric, risk-bearing population health management division. Our hospital division implements and operates innovative health care models, including micro-hospitals, specialty hospitals and hospital outpatient departments ("HOPDs"). The population health management ("PHM") division owns and operates provider networks such as independent physician associations ("IPAs").

We employ 944 full-time employees, contract more than 280 doctors at our facilities and partner with over 3,600 physicians and specialists within our IPA networks. Our corporate headquarters is based in Houston, Texas. We were incorporated on April 13, 2000 in the state of Delaware.

Last close 209.59 2026-10-23
Market cap $1.44B 2026-06-30 share count
52-week range 83.99 - 226.16

Valuation FY2025 figures against the last close

P/S1.6x
P/E20.0x
P/FCF5.8x
EV/EBITDA4.4x
Dividend yield—
Diluted EPS10.48

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Hospital division
  • Population health management division
  • Other
Revenue by segment, 3 categories over 2 years. The same figures are in the table below. FY2025 Hospital division, FY2025: 844.2M (96.2%) 96% Hospital division Population health management division, FY2025: 31.1M (3.5%) 4% Other, FY2025: 2.5M (0.3%) FY2024 Hospital division, FY2024: 449.1M (93.1%) 93% Population health management division, FY2024: 30.9M (6.4%) 6% Other, FY2024: 2.4M (0.5%)
Segment FY2025FY2024
Hospital division $844.2M $449.1M
Population health management division $31.1M $30.9M
Other $2.5M $2.4M

As the company reported it, from the “Segment Information - Operations (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $875.3M$479.9M$247.6M$219.3M$331.5M$274.0M$1.4M$1.4M$23.2K$0
Cost of revenue ————$14.6M$909.8K$830.4K$507.6K$30.5K$0
Gross profit $444.3M$196.3M$34.8M$15.4M$179.3M$157.6M$536.0K$859.4K-$7.3K$0
R&D ————$285.9K$557.3K$768.1K$545.2K——
SG&A $51.7M$41.9M$33.2M$19.8M$5.5M$4.4M$3.7M$945.6K$1.8M$448.6K
Total operating expenses $168.7M$65.6M$66.5M$422.0M$9.0M$4.4M$7.4M$1.7M$5.7M$448.6K
Operating income $275.6M$130.7M-$31.8M-$406.6M$170.3M$153.2M-$6.9M-$840.4K-$5.7M-$448.6K
Interest expense $22.2M$19.9M$16.3M$12.5M$6.2M$6.4M$92.2K$109.8K$367.4K$2.6K
Pre-tax income $244.8M$109.8M-$48.5M-$419.6M$169.5M$145.7M-$7.1M-$950.1K——
Income tax $64.4M$15.0M$5.1M$13.1M$965.7K$181.3K$0$0——
Net income $70.8M$52.1M-$45.8M-$424.8M$132.6M$106.0M-$7.1M-$950.1K$582.1K-$7.4M
EPS, basic 11.1310.23-10.39-100.360.220.18————
EPS, diluted 10.489.69-10.39-100.360.220.18-1.96-0.560.01-0.19
Shares, diluted (wtd. avg.) 6.8M5.5M4.4M4.2M592.8M592.8M———39.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $185.6M$40.6M$22.0M$34.3M$36.1M$26.9K$1.1M$119.3K$9.4K$10.5K
Receivables —$232.4M$58.6M$57.8M$112.8M$18.3K$100.2K$186.2K$6.3K—
Inventory $2.9M$2.9M$3.4M$3.5M$2.8M$0$27.0K$0$0—
Total current assets $538.8M$292.5M$90.8M$98.0M$154.0M$157.1K$1.2M$305.4K$55.1K$507.9K
Property, plant and equipment $94.6M$77.9M$81.4M$82.1M$151.9M$12.4K$83.4K$7.6K$3.8K$1.2K
Goodwill $13.9M$13.9M$17.1M$17.0M$1.1M$0$3.5M$0—$338.1K
Other intangibles $21.2M$15.5M$20.5M$21.2M$682.6K—$1.5M$2.6M$3.3M—
Total assets $918.5M$655.3M$398.2M$431.8M$394.7M$169.9K$6.7M$449.4K$3.3M$510.8K
Accounts payable —$9.6M$18.9M$23.6M$13.6M$695.4K$1.8M$567.0K$348.4K$356.0K
Short-term debt $13.3M$14.4M$10.8M$12.5M$10.2M—————
Total current liabilities $157.9M$154.2M$58.3M$54.9M$37.7M$1.2M$4.6M$1.0M$959.8K$6.4M
Long-term debt $29.2M$22.5M$26.3M$23.1M$78.8M$0$0$300.0K——
Total liabilities $495.1M$466.8M$319.1M$311.4M$203.1M$1.3M$4.8M$1.9M—$6.4M
Retained earnings -$286.2M-$357.0M-$409.1M-$363.3M$102.3M-$18.2M-$12.6M-$5.5M-$9.6M-$10.2M
Total equity $329.4M$132.4M$79.1M$120.3M$191.6M$147.4M$50.8M-$1.5M-$997.2K-$5.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $248.1M$23.2M$1.3M$50.6M$173.4M$86.7M-$4.0M-$480.0K-$714.6K-$274.2K
Depreciation and amortisation $20.5M$19.0M$17.6M$13.1M$7.7M$5.9M$15.7K$522$1.1K$473
Stock-based compensation ———$189.6K$4.0M$2.6M$450.1K$155.9K$924.3K$1.5K
Capital expenditure $2.5M$2.3M$9.5M$14.6M$36.9M$61.2M$84.0K$0——
Investing cash flow -$5.2M-$5.6M-$11.2M-$4.3M-$37.0M-$61.2M-$748.2K-$117.0K$2.0K-$10.0K
Financing cash flow -$97.9M$1.1M-$2.3M-$48.1M-$125.9M-$8.0M$5.7M$704.6K$711.5K$172.4K
Buybacks $5.0M$0$0———————

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 0001628280-26-015168.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B Revenue, FY2016: 0 Gross profit, FY2016: 0 Net income, FY2016: -7.4M Revenue, FY2017: 23.2K Gross profit, FY2017: -7.3K Net income, FY2017: 582.1K Revenue, FY2018: 1.4M Gross profit, FY2018: 859.4K Net income, FY2018: -950.1K Revenue, FY2019: 1.4M Gross profit, FY2019: 536K Net income, FY2019: -7.1M Revenue, FY2020: 274M Gross profit, FY2020: 157.6M Net income, FY2020: 106M Revenue, FY2021: 331.5M Gross profit, FY2021: 179.3M Net income, FY2021: 132.6M Revenue, FY2022: 219.3M Gross profit, FY2022: 15.4M Net income, FY2022: -424.8M Revenue, FY2023: 247.6M Gross profit, FY2023: 34.8M Net income, FY2023: -45.8M Revenue, FY2024: 479.9M Gross profit, FY2024: 196.3M Net income, FY2024: 52.1M Revenue, FY2025: 875.3M Gross profit, FY2025: 444.3M Net income, FY2025: 70.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $0 $23.2K $1.4M $1.4M $274.0M $331.5M $219.3M $247.6M $479.9M $875.3M
Gross profit $0 -$7.3K $859.4K $536.0K $157.6M $179.3M $15.4M $34.8M $196.3M $444.3M
Net income -$7.4M $582.1K -$950.1K -$7.1M $106.0M $132.6M -$424.8M -$45.8M $52.1M $70.8M

Recent filings and events

  • Cybersecurity incident A cybersecurity incident the company has determined to be material. Required since December 2023. Item 1.05
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event Item 8.01
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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