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Surgery Partners, Inc.

SGRY Healthcare Medical Care Facilities

Surgery Partners, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 6.24% from fiscal 2024. In the quarter to June 2026, revenue grew 2.75%, EPS fell 500.0%, free cash flow fell 60.6% and total debt rose 4.92%, each against the same quarter a year earlier. Revenue growth for ten consecutive years; insiders bought in the last twelve months.

14.64 0.13 −0.88%
Market cap
$1.9B
P/E
0.0×
Fwd P/E
−94.9×
Dividend yield
—
F-score
4/9
Altman Z
0.75
Beneish M
−2.52
Dividend safety
4/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.30
Total sells 1.28
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — 2 — —
Sell — — — — 11 — — — — — — —
Insider Ownership 39.45%

Capital & Financial Ratios $m

Market Cap 1,930.00
Revenue 3,366.30
Net Income 81.90
Free Cash Flow 191.50
Net Debt 3,534.50
Current Ratio 1.95 (at or above 1.5: strong)
Debt/Equity 1.21
P/E ratio 0.00
Fwd P/E (94.90) (negative: loss-making)
P/S ratio 0.56
P/B ratio 0.61
Past 5Y EPS Growth —
This Y EPS Growth (13.79%) (below 0%: weak)
Next Y EPS Growth 6.46%
Next Y revenue growth (4.89%) (below 0%: weak)
Next 5Y EPS Growth 8.37%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.6×, against a ten-year median of 2.0×; over the ten years it ranged from 1.5× in 2018 to 3.3× in 2021.
P/S against its own 10 years 32.25%
10-year low 10-year high
P/B against its own 10 years 23.77%
10-year low 10-year high
EV/Sales against its own 10 years 15.26%
10-year low 10-year high
EV/FCF against its own 10 years 39.92%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 196 270 240 217
Receivables 496 579 602 617
Inventory 75 88 97 99
Other 97 146 171 146
895 1,119 1,151 1,126
2023 2024 2025 Q'26
Payables 172 209 209 175
ST’ Debt 73 101 99 103
Other 204 254 243 227
523 624 616 579

Compound Annual Growth %

10y 5y 3y
Sales 13.17% 12.21% 9.22%
Cash Flow 12.50% 2.13% 19.98%
Earnings 0.00% 0.00% 0.00%
Book Value 26.52% 18.92% 2.11%

Revenue $m

Mar Jun Sep Dec Year
’26 811 849 — — —
’25 776 826 822 885 3,309
’24 717 762 770 864 3,114
’23 666 668 674 735 2,743
’22 596 615 621 707 2,539
’21 512 543 559 610 2,225
’20 441 375 496 548 1,860
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 12 59 — — —
’25 6 81 84 103 274
’24 41 83 65 111 300
’23 75 52 105 63 294
’22 80 42 30 7 159
’21 50 2 15 20 87
’20 29 182 27 9 247
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) 38 — — —
’25 (12) 96 64 94 242
’24 21 56 45 90 212
’23 58 44 85 43 231
’22 62 20 12 (3) 91
’21 38 (11) (1) 9 36
’20 27 174 58 4 263
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.28) (0.12) — — —
’25 (0.30) (0.02) (0.18) (0.12) (0.61)
’24 (0.10) (0.12) (0.25) (0.86) (1.33)
’23 (0.20) 0.15 (0.04) (0.01) (0.09)
’22 0.14 (0.21) (0.28) (0.23) (0.59)
’21 (0.57) (0.39) (0.28) 0.00 (1.12)
’20 (0.76) (0.86) (1.46) (0.10) (3.19)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 11.76 7.10 9.45 5.38 4.00 26.42 20.46 22.05 19.50 14.94

Analyst estimates 2026–2028

Powerpack
High 20.93 24.05 19.95 16.18 29.46 69.58 63.87 45.79 35.30 26.16
People
People Employees 6,000 10,600 11,000 9,600 10,800 10,900 12,200 13,500 15,000 16,000
Revenue/emp, $m 0.19 0.13 0.16 0.19 0.17 0.20 0.21 0.20 0.21 0.21
Income, $m
Income, $m Revenue 1,145 1,341 1,772 1,831 1,860 2,225 2,539 2,743 3,114 3,309
Gross margin, % 28.31 24.41 23.15 23.14 20.42 22.08 22.64 23.60 23.94 23.12
EBT 92 82 (69) 55 (19) 81 110 135 147 117
EBT margin, % 8.05 6.14 (3.91) 2.98 (1.01) 3.65 4.34 4.92 4.72 3.53
Net income 85 29 (96) 45 1 71 87 135 13 99
Depreciation 40 52 67 77 95 99 115 118 153 176
Per share, $
Per share, $ Revenue 23.85 27.76 36.88 37.93 38.14 30.72 27.62 21.84 24.69 26.01
Earnings 0.20 (1.64) (4.96) (2.27) (3.19) (1.12) (0.59) (0.09) (1.33) (0.61)
Cash flow 2.61 2.50 3.01 2.68 5.06 1.20 1.73 2.34 2.38 2.16
Capex (0.81) (0.61) (0.43) (1.16) 0.32 (0.71) (0.74) (0.50) (0.70) (0.25)
Free cash flow 1.79 1.89 2.58 1.52 5.38 0.49 0.99 1.84 1.68 1.90
Book value 6.76 34.51 30.36 28.55 26.99 27.19 31.98 24.16 25.34 24.62
Shares, m 48 48 48 48 49 72 92 126 126 127
Valuation, ×
Valuation, × P/E 81.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
P/S 0.65 0.48 0.27 0.41 0.76 1.74 0.95 1.45 0.86 0.59
P/B 2.29 0.48 0.43 0.77 1.60 1.96 0.82 1.31 0.84 0.63
EV/Sales 1.85 1.98 1.47 1.77 2.13 2.88 1.87 2.39 1.85 1.64
EV/FCF 24.58 29.13 21.07 44.14 15.06 180.77 52.22 28.39 27.18 22.42
Cash, $m
Cash, $m Operating cash flow 125 121 145 130 247 87 159 294 300 274
Capex (39) (30) (21) (56) 16 (52) (68) (63) (88) (32)
Free cash flow 86 91 124 74 263 36 91 231 212 242
Balance, $m
Balance, $m Working capital 175 260 239 127 245 409 428 372 495 535
Total debt 1,442 2,189 2,327 2,581 2,857 2,939 2,622 2,775 3,370 3,702
Net debt 1,373 2,014 2,142 2,488 2,539 2,549 2,339 2,579 3,101 3,462
Shareholders’ equity 325 1,667 1,458 1,378 1,317 1,970 2,941 3,035 3,196 3,131
Returns, %
Returns, % ROA 0.43 (2.28) (5.12) (2.28) (2.98) (1.41) (0.85) (0.18) (2.28) (0.97)
ROIC 7.24 2.69 1.35 3.81 2.97 4.18 4.09 3.65 3.46 3.69
ROE 3.04 (9.52) (19.55) (10.61) (16.68) (5.69) (2.22) (0.40) (5.40) (2.46)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Surgery Partners, Inc. vs peers in Medical Care Facilities (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BKD Brookdale Senior Living Inc. $2.4B — (loss-making) — (loss-making) −11.61% (below 0%: shrinking) n/m +533.14% (above 0%: growing) 29.94% 11.86% Compare
MD Pediatrix Medical Group, Inc. $2.3B 13.1× 11.3× +4.04% (above 0%: growing) +6.52% (above 0%: growing) −6.56% (below 0%: shrinking) 27.16% 11.67% Compare
ADUS Addus HomeCare Corporation $2.2B 20.4× 14.9× +8.01% (above 0%: growing) +24.17% (above 0%: growing) +81.74% (above 0%: growing) 32.21% 10.32% Compare
SGRY Surgery Partners, Inc. $1.9B — (loss-making) — (loss-making) +2.75% (above 0%: growing) n/m −60.63% (below 0%: shrinking) 22.41% 12.78%
ASTH Astrana Health, Inc. $1.9B 44.3× 29.7× +48.52% (above 0%: growing) +110.53% (above 0%: growing) −67.74% (below 0%: shrinking) 10.70% 3.53% Compare
ARDT Ardent Health, Inc. $1.7B 21.7× 7.7× −1.40% (below 0%: shrinking) −76.92% (below 0%: shrinking) +121.70% (above 0%: growing) 100.00% 3.44% Compare
SNDA Sonida Senior Living, Inc. $1.7B — (loss-making) — (loss-making) +122.02% (above 0%: growing) n/m −291.70% (below 0%: shrinking) 34.97% (2.63%) Compare
CMPS COMPASS Pathways PLC Sponsored ADR $1.6B — (loss-making) — — n/m −4.18% (below 0%: shrinking) — 0.00% Compare
AMN AMN Healthcare Services Inc $1.6B 15.0× 31.2× +2.29% (above 0%: growing) n/m −389.43% (below 0%: shrinking) 30.58% 4.00% Compare
Median of peers $1.8B 20.4× 14.9× +4.04% +15.35% −5.37% 30.58% 3.77%

All 55 Medical Care Facilities stocks →

Surgery Partners, Inc. (SGRY) key facts

  • Strength: Surgery Partners, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 6.24% from fiscal 2024.
  • Surgery Partners, Inc. (SGRY) is a Medical Care Facilities company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, SGRY traded at $14.64, a market capitalization of $1.9 billion.
  • Return on equity was −2.46% and debt-to-equity 1.21.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 0.75 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Surgery Partners, Inc. (SGRY) Latest News

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stockrow.com/SGRY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com