Surgery Partners, Inc. SGRY

Healthcare SIC 8062 - Services-General Medical & Surgical Hospitals, NEC NAICS Health Care and Social Assistance › Hospitals › General Medical and Surgical Hospitals derived Nasdaq

Surgery Partners, Inc., a Delaware corporation, acting through its subsidiaries, owns and operates a national network of surgical facilities and ancillary services. Unless the context otherwise indicates, Surgery Partners, Inc. and its subsidiaries are referred to herein as "Surgery Partners," "we," "us," "our" or the "Company."

We are a leading healthcare services company with an integrated outpatient delivery model focused on providing high-quality, cost-effective solutions for surgical and related ancillary care in support of both patients and physicians. We are one of the largest and fastest growing surgical services businesses in the United States ("U.S."), with more than 200 locations in 30 states, including ambulatory surgery centers ("ASCs"), short-stay surgical hospitals ("surgical hospitals"), and multi-specialty physician practices, among others. Patient services provided in our ASCs and surgical hospitals (collectively, "surgical facilities" or "facilities") generated approximately $3.2 billion in revenue during 2025.

Last close 15.75 2026-10-23
Market cap $2.06B 2026-06-30 share count
52-week range 11.41 - 23.44

Valuation FY2025 figures against the last close

P/S0.6x
P/E—
P/FCF10.5x
EV/EBITDA9.8x
Dividend yield—
Diluted EPS-0.61

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.31B$3.11B$2.74B$2.54B$2.23B$1.86B$1.83B$1.77B—$1.15B
Cost of revenue ——————$1.41B$1.36B—$821.2M
Gross profit ——————$423.8M$410.1M—$324.2M
SG&A $118.2M$138.7M$120.9M$102.2M$104.0M$97.1M$88.6M$93.6M—$60.2M
Total operating expenses $2.92B$2.77B$2.42B$2.19B$1.92B$1.68B$1.60B$1.69B—$949.0M
Operating income $389.5M$348.8M$328.0M$345.2M$302.2M$183.0M$235.9M$77.8M—$196.5M
Pre-tax income $116.9M$147.1M$135.6M$110.3M$81.2M-$96.0M-$65.3M-$179.3M—$16.5M
Income tax $18.0M$134.6M$300.0K$23.3M$10.5M$20.1M$9.5M$26.4M—$7.1M
Net income $98.9M$12.5M$135.3M$87.0M$70.7M-$116.1M-$74.8M-$205.7M—$9.5M
EPS, basic -0.61-1.33-0.09-0.59-1.12-3.19-2.29-4.96—0.20
EPS, diluted -0.61-1.33-0.09-0.59-1.12-3.19-2.29-4.96—0.20
Shares, diluted (wtd. avg.) 127.2M126.1M125.6M92.0M72.4M48.8M48.3M48.0M—48.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $239.9M$269.5M$195.9M$282.9M$389.9M$318.2M$93.0M$184.6M$175.2M$70.0M
Receivables $602.2M$579.1M$496.4M$456.3M$430.2M$382.2M$326.9M$307.6M$288.0M$220.6M
Inventory $96.6M$88.4M$75.2M$71.4M$61.1M$56.4M$46.3M$43.4M$45.0M$28.8M
Total current assets $1.15B$1.12B$895.0M$921.0M$946.1M$801.5M$525.5M$588.3M$563.2M$362.0M
Property, plant and equipment ———————$426.3M——
Goodwill $5.19B$5.07B$4.33B$4.14B$3.91B$3.47B$3.40B$3.38B$3.35B$1.56B
Other intangibles $41.0M$45.7M$54.8M$42.3M$43.7M$46.9M$47.3M$54.3M$58.9M$48.0M
Total assets $8.12B$7.89B$6.88B$6.68B$6.12B$5.41B$5.02B$4.68B$4.62B$2.30B
Accounts payable $208.7M$208.7M$171.8M$151.6M$124.9M$100.2M$96.7M$83.3M$84.7M$49.8M
Total current liabilities $615.5M$624.4M$523.0M$493.4M$536.8M$556.8M$398.1M$349.3M$303.0M$186.7M
Long-term debt $3.74B$3.40B$2.80B$2.63B$2.96B$2.88B$2.60B$2.33B$2.19B$1.47B
Retained earnings -$815.2M-$737.3M-$569.2M-$557.3M-$502.7M-$431.8M-$315.7M-$247.0M-$41.3M-$311.4M
Total equity $1.71B$1.79B$3.03B$2.94B$1.97B$882.1M$983.4M$1.10B$1.34B$324.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $274.3M$300.1M$293.8M$158.8M$87.1M$246.9M$129.5M$144.6M—$125.2M
Depreciation and amortisation $176.0M$152.6M$118.1M$114.8M$98.8M$94.8M$76.5M$67.4M—$39.6M
Stock-based compensation $14.8M$33.3M$17.7M$18.4M$17.4M$13.2M$10.2M$9.3M—$2.0M
Capital expenditure $78.7M$90.4M$88.8M$80.6M$57.6M$42.9M$73.6M$39.8M—$39.1M
Investing cash flow -$246.6M-$488.5M-$225.6M-$307.9M-$331.7M-$88.4M-$85.2M-$128.9M—-$184.7M
Financing cash flow -$57.3M$262.0M-$155.2M$42.1M$316.3M$66.7M-$135.9M-$6.3M—$71.3M
Buybacks —————$0$0$2.0M—$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 0001638833-26-000039.

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. -1B 0 1B 2B 3B 4B Revenue, FY2016: 1.1B Gross profit, FY2016: 324.2M Net income, FY2016: 9.5M Revenue, FY2018: 1.8B Gross profit, FY2018: 410.1M Net income, FY2018: -205.7M Revenue, FY2019: 1.8B Gross profit, FY2019: 423.8M Net income, FY2019: -74.8M Revenue, FY2020: 1.9B Net income, FY2020: -116.1M Revenue, FY2021: 2.2B Net income, FY2021: 70.7M Revenue, FY2022: 2.5B Net income, FY2022: 87M Revenue, FY2023: 2.7B Net income, FY2023: 135.3M Revenue, FY2024: 3.1B Net income, FY2024: 12.5M Revenue, FY2025: 3.3B Net income, FY2025: 98.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.15B — $1.77B $1.83B $1.86B $2.23B $2.54B $2.74B $3.11B $3.31B
Gross profit $324.2M — $410.1M $423.8M — — — — — —
Net income $9.5M — -$205.7M -$74.8M -$116.1M $70.7M $87.0M $135.3M $12.5M $98.9M

Recent filings and events

  • 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
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • 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
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • 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
  • Regulation FD disclosure Item 7.01

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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