Friday 6 November 2026 Export UHS’s income statement to Excel — free account

Universal Health Services, Inc.

Universal Health Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.4 billion, up 9.71% from fiscal 2024.

Revenue: +5.30%
EPS: −9.98%
Free cash flow: +216.7%
Total debt: +21.7%

Quarter to September 2026, against a year earlier

192.30 6.29 −3.17%

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Market cap: $11.7B
P/E: 8.2×
Fwd P/E: 8.0×
Dividend yield: 0.40%
F-score: 8/9
Altman Z: 3.29
Beneish M: −2.45
Dividend safety: 88/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Universal Health Services, Inc. (UHS) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Acute Care Hospital Services	9,926	57.16%
Behavioral Health Services	7,426	42.76%
State Medicaid programs	56	0.32%
Other	13	0.08%
Gross margin		90.45%
Operating margin		11.48%
Pre-tax margin		11.36%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Managed Care (HMO and PPOs)	4,902 28.23%	4,496 28.41%	4,211 29.49%	4,013 29.95%	3,957 31.30%	3,427 29.65%	3,635 31.95%	3,490 32.40%	3,362 32.29%	3,253 33.31%
Medicaid	2,687 15.47%	2,252 14.23%	1,533 10.73%	1,512 11.29%	1,292 10.22%	1,203 10.40%	1,208 10.61%	1,184 10.99%	1,206 11.59%	1,180 12.08%
Managed Medicaid	2,483 14.30%	2,304 14.56%	2,291 16.04%	2,207 16.47%	1,947 15.40%	1,715 14.84%	1,679 14.75%	1,530 14.20%	1,389 13.34%	1,237 12.67%
Managed Medicare	2,080 11.98%	1,884 11.90%	1,714 12.00%	1,561 11.65%	1,363 10.78%	1,105 9.56%	1,048 9.21%	929 8.63%	791 7.60%	680 6.96%
Medicare	1,856 10.69%	1,669 10.55%	1,607 11.25%	1,616 12.06%	1,654 13.08%	1,691 14.63%	1,889 16.60%	1,876 17.41%	1,817 17.45%	1,729 17.70%
Other Patient Revenue and Adjustments, Net	1,240 7.14%	1,113 7.03%	981 6.87%	746 5.56%	843 6.67%	745 6.45%	697 6.12%	651 6.04%	718 6.90%	741 7.59%
Other Non-patient Revenue	1,115 6.42%	1,230 7.77%	1,183 8.29%	1,061 7.92%	898 7.10%	1,089 9.42%	670 5.89%	608 5.64%	700 6.73%	704 7.21%
UK Revenue	1,001 5.77%	880 5.56%	761 5.33%	685 5.11%	688 5.44%	584 5.05%	554 4.87%	505 4.69%	427 4.10%	241 2.47%
Revenue	17,365	15,828	14,282	13,399	12,642	11,559	11,378	10,772	10,410	9,766

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
Acute Care Hospital Services	9,926 57.16%	8,944 56.51%	8,081 56.58%	7,647 57.07%	7,108 56.23%	6,337 54.83%	6,165 54.18%	5,720 53.10%	5,485 52.69%	5,113 52.35%	4,633 51.23%	4,178 50.92%	3,603 48.90%	3,461 49.72%	3,424 50.65%	3,272 66.78%
Behavioral Health Services	7,426 42.76%	6,873 43.42%	6,191 43.35%	5,730 42.76%	5,504 43.53%	5,209 45.06%	5,210 45.79%	5,039 46.78%	4,907 47.14%	4,645 47.56%	4,400 48.66%	4,012 48.90%	3,726 50.56%	3,460 49.70%	3,309 48.95%	1,597 32.59%
State Medicaid programs	56 0.32%	53 0.33%	73 0.51%	75 0.56%	74 0.59%	73 0.63%	78 0.69%	64 0.59%	55 0.53%	53 0.54%	—	—	—	—	—	—
Other	13 0.08%	11 0.07%	10 0.07%	23 0.17%	30 0.24%	13 0.11%	4 0.03%	13 0.13%	18 0.18%	8 0.08%	11 0.12%	15 0.18%	39 0.54%	40 0.57%	27 0.41%	31 0.63%
Eliminations	—	—	(73) (0.51%)	(75) (0.56%)	(74) (0.59%)	(73) (0.63%)	(78) (0.69%)	(64) (0.59%)	(55) (0.53%)	(53) (0.54%)	—	—	—	—	—	—
Revenue	17,365	15,828	14,282	13,399	12,642	11,559	11,378	10,772	10,410	9,766	9,043	8,205	7,368	6,961	6,760	4,900

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Admissions – Acute	Q3 FY2026	90.7K	87.0K	+4.30%
Admissions – Behavioral health	Q3 FY2026	121.4K	120.7K	+0.64%
Average available beds – Acute	Q3 FY2026	7.3K	7.0K	+5.12%
Average available beds – Behavioral health	Q3 FY2026	24.6K	24.3K	+1.30%
Average daily census – Acute	Q3 FY2026	4.7K	4.5K	+4.24%
Average daily census – Behavioral health	Q3 FY2026	18.0K	17.8K	+0.89%
Average licensed beds – Acute	Q3 FY2026	7.5K	7.2K	+5.00%
Average licensed beds – Acute, same facility	Q2 FY2026	7.3K	6.8K	+7.48%
Average licensed beds – Behavioral health	Q3 FY2026	24.7K	24.4K	+1.30%
Hospitals owned and leased – Acute	Q3 FY2026	30.00	29.00	+3.45%
Hospitals owned and leased – Acute, same facility	Q3 FY2026	29.00	27.00	+7.41%
Hospitals owned and leased – Behavioral health	Q3 FY2026	388.00	345.00	+12.46%
Length of stay – Acute	Q3 FY2026	4.70	4.70	0.00%
Length of stay – Behavioral health	Q3 FY2026	13.60	13.60	0.00%
Patient days – Acute	Q3 FY2026	429.8K	412.4K	+4.24%
Patient days – Behavioral health	Q3 FY2026	1.7M	1.6M	+0.89%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Admissions – Acute	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Admissions – Behavioral health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average available beds – Acute	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average available beds – Behavioral health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily census – Acute	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average daily census – Behavioral health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average licensed beds – Acute	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average licensed beds – Acute, same facility	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average licensed beds – Behavioral health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Hospitals owned and leased – Acute	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Hospitals owned and leased – Acute, same facility	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Hospitals owned and leased – Behavioral health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Length of stay – Acute	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Length of stay – Behavioral health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Patient days – Acute	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Patient days – Behavioral health	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.