SGRY

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Surgery Partners, Inc.

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Key Metrics

Previous Close: $13.60
52-Week Range: $11.41 – $24.10
Market Cap: $1.83B
P/E (TTM): —
EPS (TTM): -0.71
Dividend Yield: —

Advanced Metrics

Price/Book: 1.08
PEG Ratio: —
Return on Equity: 2.32%
Return on Assets: 3.67%
Gross Margin: 22.51%
Operating Margin: 13.72%
Profit Margin: -2.63%
Current Ratio: 1.95
Debt/Equity: 1.17
Total Debt: $4.07B
Free Cash Flow: $183.56M
Revenue Growth: 2.70%
Earnings Growth: —
Enterprise Value: $7.41B

SGRY Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.54B	$2.74B	$3.11B	$3.31B
Cost of Revenue	$1.96B	$2.10B	$2.37B	$2.54B
Gross Profit	$574.90M	$647.50M	$745.60M	$765.00M
Selling, General & Admin	$102.20M	$120.90M	$138.70M	$118.20M
Operating Expenses	$217.00M	$239.00M	$291.30M	$294.20M
Operating Income	$357.90M	$408.50M	$454.30M	$470.80M
EBITDA	$460.00M	$446.10M	$501.40M	$565.50M
Pretax Income	$110.30M	$135.00M	$147.10M	$116.90M
Income Tax	$23.30M	-$300.00K	$134.60M	$18.00M
Net Income	-$54.60M	-$11.90M	-$168.10M	-$77.90M
Diluted EPS	-0.59	-0.09	-1.33	-0.61
Diluted Shares	91.95M	125.61M	126.12M	127.21M

SGRY Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$282.90M	$195.90M	$269.50M	$239.90M
Receivables	$456.30M	$496.40M	$579.10M	$602.20M
Inventory	$71.40M	$75.20M	$88.40M	$96.60M
Current Assets	$921.00M	$895.00M	$1.12B	$1.15B
Total Assets	$6.68B	$6.88B	$7.89B	$8.12B
Current Liabilities	$493.40M	$523.00M	$624.40M	$615.50M
Long-Term Debt	$2.56B	$2.70B	$3.27B	$3.60B
Total Debt	$2.93B	$3.06B	$3.70B	$4.02B
Total Liabilities	$3.40B	$3.51B	$4.25B	$4.59B
Retained Earnings	-$557.30M	-$569.20M	-$737.30M	-$815.20M
Shareholders' Equity	$2.00B	$1.99B	$1.79B	$1.71B
Working Capital	$427.60M	$372.00M	$495.00M	$535.20M
Net Debt	$2.34B	$2.58B	$3.10B	$3.46B

SGRY Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$158.80M	$293.80M	$300.10M	$274.30M
Capital Expenditure	-$80.60M	-$88.80M	-$90.40M	-$78.70M
Free Cash Flow	$78.20M	$205.00M	$209.70M	$195.60M
Depreciation & Amortisation	$114.80M	$118.10M	$152.60M	$176.00M
Stock-Based Compensation	$18.40M	$17.70M	$33.30M	$14.80M
Investing Cash Flow	-$307.90M	-$225.60M	-$488.50M	-$246.60M
Financing Cash Flow	$42.10M	-$155.20M	$262.00M	-$57.30M
Dividends Paid	$0.00	$0.00	—	—
Net Change in Cash	-$107.00M	-$87.00M	$73.60M	-$29.60M

SGRY Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$776.00M	$826.20M	$821.50M	$885.00M	$810.90M
Cost of Revenue	$614.10M	$630.60M	$626.20M	$672.80M	$650.70M
Gross Profit	$161.90M	$195.60M	$195.30M	$212.20M	$160.20M
Selling, General & Admin	$36.00M	$36.10M	$22.40M	$23.70M	$39.30M
Operating Expenses	$72.30M	$74.30M	$60.20M	$87.40M	$76.10M
Operating Income	$89.60M	$121.30M	$135.10M	$124.80M	$84.10M
EBITDA	$98.20M	$152.00M	$145.20M	$170.10M	$104.30M
Pretax Income	-$300.00K	$43.80M	$30.80M	$42.60M	-$3.30M
Income Tax	$0.00	-$1.10M	$5.50M	$13.60M	-$1.20M
Net Income	-$37.70M	-$2.50M	-$22.70M	-$15.00M	-$35.90M
Diluted EPS	-0.30	-0.02	-0.18	-0.12	-0.28
Diluted Shares	126.60M	126.98M	127.21M	128.03M	128.37M

SGRY Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$229.30M	$250.10M	$203.40M	$239.90M	$182.30M
Receivables	$570.60M	$563.10M	$579.30M	$602.20M	$603.40M
Inventory	$88.10M	$87.30M	$92.30M	$96.60M	$100.50M
Current Assets	$1.07B	$1.11B	$1.10B	$1.15B	$1.08B
Total Assets	$7.95B	$7.95B	$7.95B	$8.12B	$8.04B
Current Liabilities	$569.40M	$573.30M	$586.00M	$615.50M	$581.70M
Long-Term Debt	$3.45B	$3.47B	$3.46B	$3.60B	$3.61B
Total Debt	$3.86B	$3.88B	$3.87B	$4.02B	$4.03B
Total Liabilities	$4.36B	$4.38B	$4.39B	$4.59B	$4.56B
Retained Earnings	-$775.00M	-$777.50M	-$800.20M	-$815.20M	-$851.10M
Shareholders' Equity	$1.74B	$1.75B	$1.73B	$1.71B	$1.69B
Working Capital	$505.20M	$532.00M	$516.20M	$535.20M	$500.80M
Net Debt	$3.32B	$3.33B	$3.36B	$3.46B	$3.53B

SGRY Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$6.00M	$81.30M	$83.60M	$103.40M	$11.70M
Capital Expenditure	-$22.70M	-$23.40M	-$19.80M	-$12.80M	-$16.00M
Free Cash Flow	-$16.70M	$57.90M	$63.80M	$90.60M	-$4.30M
Depreciation & Amortisation	$36.30M	$40.30M	$39.50M	$59.90M	$38.50M
Stock-Based Compensation	$7.60M	$6.80M	$2.60M	-$2.20M	$5.80M
Investing Cash Flow	-$76.40M	$2.10M	-$46.20M	-$126.10M	-$13.40M
Financing Cash Flow	$30.20M	-$62.60M	-$84.10M	$59.20M	-$55.90M
Net Change in Cash	-$40.20M	$20.80M	-$46.70M	$36.50M	-$57.60M

Market Snapshot

About

Surgery Partners, Inc. operates surgical facilities across the United States, including ambulatory surgery centers and surgical hospitals. The company provides a range of surgical services in specialties such as gastroenterology, orthopedics, and ophthalmology. Surgery Partners partners with physicians to deliver high-quality outpatient surgical care.