Surgery Partners, Inc. financials
Source: EDGAR filings · Built 2026-06-02T04:01:59Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 156.40M | 176.70M | 178.30M | 53.60M | 9.40M | 185.70M |
| EBITDA | 565.50M | 501.40M | 446.10M | 460.00M | 401.00M | 277.80M |
| Working Capital | 535.20M | 495.00M | 372.00M | 427.60M | 409.30M | 244.70M |
| Net Debt | 4.75B | 4.27B | 3.59B | 3.24B | 3.29B | 3.18B |
| Operating Margin | 11.77% | 11.20% | 11.96% | 13.59% | 13.58% | 9.84% |
| Net Margin | -2.35% | -5.40% | -0.43% | -2.15% | -3.19% | -6.24% |
| Return on Equity (ROE) | -4.55% | -9.39% | -0.60% | -2.73% | -6.51% | -100.43% |
| Return on Assets (ROA) | -0.96% | -2.13% | -0.17% | -0.82% | -1.16% | -2.14% |
| Current Ratio | 1.87× | 1.79× | 1.71× | 1.87× | 1.76× | 1.44× |
| Debt-to-Equity | 2.92× | 2.53× | 1.90× | 1.77× | 3.38× | 30.26× |
| Cash Conversion Ratio | -3.52× | -1.79× | -24.69× | -2.91× | -1.23× | -2.13× |
| Accruals Ratio | -0.04× | -0.06× | -0.04× | -0.03× | -0.03× | -0.07× |
| SBC % of Revenue | 0.45% | 1.07% | 0.65% | 0.72% | 0.78% | 0.71% |
| CapEx Coverage | 2.33× | 2.43× | 2.54× | 1.51× | 1.12× | 4.03× |
| Free Cash Flow Per Share | $1.23 | $1.40 | $1.42 | $0.58 | $0.13 | $3.81 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/FCF | 12.57× | 15.11× | 22.54× | 47.80× | 411.48× | 7.62× |
| FCF Yield | 7.96% | 6.62% | 4.44% | 2.09% | 0.24% | 13.12% |
| EV / EBITDA | 11.94× | 13.88× | 17.12× | 14.68× | 20.10× | 16.72× |
| P/S | 0.60× | 0.86× | 1.48× | 1.38× | 2.14× | 0.79× |
| P/B | 1.17× | 1.50× | 2.04× | 1.76× | 4.38× | 12.66× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Expenses | 2.92B | 2.77B | 2.42B | 2.19B | 1.92B | 1.68B |
| Operating Income (Loss) | 389.50M | 348.80M | 328.00M | 345.20M | 302.20M | 183.00M |
| Income Tax Expense (Benefit) | 18.00M | 134.60M | -300.00K | 23.30M | 10.50M | -20.10M |
| Net Income (Loss) Attributable to Parent | -77.90M | -168.10M | -11.90M | -54.60M | -70.90M | -116.10M |
| Earnings Per Share, Basic | $-0.61 | $-1.33 | $-0.09 | $-0.59 | $-1.12 | $-3.19 |
| Weighted Average Number of Shares Outstanding, Basic | 127.21M | 126.12M | 125.61M | 91.95M | 72.43M | 48.78M |
| Earnings Per Share, Diluted | $-0.61 | $-1.33 | $-0.09 | $-0.59 | $-1.12 | $-3.19 |
| Weighted Average Number of Shares Outstanding, Diluted | 127.21M | 126.12M | 125.61M | 91.95M | 72.43M | 48.78M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 239.90M | 269.50M | 195.90M | 282.90M | 389.90M | 317.90M |
| Assets, Current | 1.15B | 1.12B | 895.00M | 921.00M | 946.10M | 801.50M |
| Assets | 8.12B | 7.89B | 6.88B | 6.68B | 6.12B | 5.41B |
| Long-term Debt | 3.74B | 3.40B | 2.80B | 2.63B | 2.96B | 2.88B |
| Liabilities, Current | 615.50M | 624.40M | 523.00M | 493.40M | 536.80M | 556.80M |
| Stockholders' Equity Attributable to Parent | 1.71B | 1.79B | 1.99B | 2.00B | 1.09B | 115.60M |
| Common Stock, Shares, Outstanding | 129.32M | 127.11M | 126.59M | 125.96M | 89.33M | 50.46M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 274.30M | 300.10M | 293.80M | 158.80M | 87.10M | 246.90M |
| Payments to Acquire Property, Plant, and Equipment | 78.70M | 90.40M | 88.80M | 80.60M | 57.60M | 42.90M |
| Net Cash Provided by (Used in) Investing Activities | -246.60M | -488.50M | -225.60M | -307.90M | -331.70M | -88.40M |
| Payments for Repurchase of Common Stock | — | — | — | — | — | 0 |
| Net Cash Provided by (Used in) Financing Activities | -57.30M | 262.00M | -155.20M | 42.10M | 316.30M | 66.70M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -15.10M | 80.40M | 76.00M | 22.40M | -22.90M | 80.50M |
| EBITDA | 104.30M | 170.10M | 145.20M | 152.00M | 98.20M | 161.00M |
| Working Capital | 500.80M | 535.20M | 516.20M | 532.00M | 505.20M | 495.00M |
| Net Debt | 3.85B | 4.75B | 3.67B | 3.63B | 3.63B | 4.27B |
| Operating Margin | 8.11% | 12.45% | 12.87% | 13.52% | 7.98% | 14.70% |
| Net Margin | -4.43% | -1.69% | -2.76% | -0.30% | -4.86% | -12.55% |
| Return on Equity (ROE) | -2.13% | -0.88% | -1.31% | -0.14% | -2.17% | -6.06% |
| Return on Assets (ROA) | -0.45% | -0.18% | -0.29% | -0.03% | -0.47% | -1.38% |
| Current Ratio | 1.86× | 1.87× | 1.88× | 1.93× | 1.89× | 1.79× |
| Debt-to-Equity | 2.39× | 2.92× | 2.24× | 2.22× | 2.22× | 2.53× |
| Cash Conversion Ratio | -0.33× | -6.89× | -7.53× | -34.92× | -0.16× | -1.03× |
| Accruals Ratio | -0.01× | -0.01× | -0.02× | -0.01× | -0.01× | -0.03× |
| SBC % of Revenue | 0.72% | -0.25% | 2.07% | 1.74% | 0.98% | 0.72% |
| CapEx Coverage | 0.44× | 4.50× | 1.80× | 1.35× | 0.21× | 3.61× |
| Free Cash Flow Per Share | $-0.12 | $0.63 | $0.60 | $0.18 | $-0.18 | $0.64 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| EV / EBITDA | 9.46× | 11.94× | 11.61× | 12.40× | 13.63× | 13.88× |
| P/S | 0.47× | 0.60× | 0.85× | 0.88× | 0.96× | 0.86× |
| P/B | 0.92× | 1.17× | 1.61× | 1.63× | 1.75× | 1.50× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Operating Expenses | 745.10M | 774.80M | 715.80M | 714.50M | 714.10M | 737.30M |
| Operating Income (Loss) | 65.80M | 110.20M | 105.70M | 111.70M | 61.90M | 127.10M |
| Income Tax Expense (Benefit) | -1.20M | 13.60M | 5.50M | -1.10M | 0 | 120.80M |
| Net Income (Loss) Attributable to Parent | -35.90M | -15.00M | -22.70M | -2.50M | -37.70M | -108.50M |
| Earnings Per Share, Basic | $-0.28 | $-0.11 | $-0.18 | $-0.02 | $-0.30 | $-0.86 |
| Weighted Average Number of Shares Outstanding, Basic | 128.37M | 127.21M | 127.21M | 126.98M | 126.60M | 126.12M |
| Earnings Per Share, Diluted | $-0.28 | $-0.11 | $-0.18 | $-0.02 | $-0.30 | $-0.86 |
| Weighted Average Number of Shares Outstanding, Diluted | 128.37M | 127.21M | 127.21M | 126.98M | 126.60M | 126.12M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 182.30M | 239.90M | 203.40M | 250.10M | 229.30M | 269.50M |
| Assets, Current | 1.08B | 1.15B | 1.10B | 1.11B | 1.07B | 1.12B |
| Assets | 8.04B | 8.12B | 7.95B | 7.95B | 7.95B | 7.89B |
| Long-term Debt | — | 3.74B | — | — | — | 3.40B |
| Liabilities, Current | 581.70M | 615.50M | 586.00M | 573.30M | 569.40M | 624.40M |
| Stockholders' Equity Attributable to Parent | 1.69B | 1.71B | 1.73B | 1.75B | 1.74B | 1.79B |
| Common Stock, Shares, Outstanding | 130.80M | 129.32M | 129.02M | 128.21M | 128.19M | 127.11M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 11.70M | 103.40M | 170.90M | 87.30M | 6.00M | 111.40M |
| Payments to Acquire Property, Plant, and Equipment | 16.00M | 12.80M | 65.90M | 46.10M | 22.70M | 22.30M |
| Net Cash Provided by (Used in) Investing Activities | -13.40M | -126.10M | -120.50M | -74.30M | -76.40M | -111.70M |
| Net Cash Provided by (Used in) Financing Activities | -55.90M | 59.20M | -116.50M | -32.40M | 30.20M | 48.00M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (SGRY CIK 0001638833),
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For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.