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Stocks · Health care · Services-General Medical & Surgical Hospitals, NEC

Surgery Partners, Inc.

SGRY Clue Score45
United States Fiscal year ends December CIK 0001638833
$13.89 +1.83% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $13.89 −63.35% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,145.4Operating income196.5Net income9.5EPS, diluted0.20Fiscal year 2018Revenue1,771.5 +54.7%Operating income77.8Net income−205.7 −2,276.0%EPS, diluted−4.96 −2,580.0%Fiscal year 2019Revenue1,831.4 +3.4%Operating income235.9Net income−74.8EPS, diluted−2.29Fiscal year 2020Revenue1,860.1 +1.6%Operating income183.0Net income−116.1EPS, diluted−3.19Fiscal year 2021Revenue2,225.1 +19.6%Operating income302.2Net income−70.9EPS, diluted−1.12Fiscal year 2022Revenue2,539.3 +14.1%Operating income345.2Net income−54.6EPS, diluted−0.59Fiscal year 2023Revenue2,743.3 +8.0%Operating income328.0Net income−11.9EPS, diluted−0.09Fiscal year 2024Revenue3,114.3 +13.5%Operating income348.8Net income−168.1EPS, diluted−1.33Fiscal year 2025Revenue3,308.7 +6.2%Operating income389.5Net income−77.9EPS, diluted−0.61
FY2016FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,145.4 1,771.5 1,831.4 1,860.1 2,225.1 2,539.3 2,743.3 3,114.3 3,308.7
Growth +54.7% +3.4% +1.6% +19.6% +14.1% +8.0% +13.5% +6.2%
Operating income 196.5 77.8 235.9 183.0 302.2 345.2 328.0 348.8 389.5
Net income 9.5 −205.7 −74.8 −116.1 −70.9 −54.6 −11.9 −168.1 −77.9
Growth −2,276.0%
EPS, diluted 0.20 −4.96 −2.29 −3.19 −1.12 −0.59 −0.09 −1.33 −0.61
Growth −2,580.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin17.2%Net margin0.8%Free cash flow margin7.5%Fiscal year 2018Operating margin4.4%Net margin−11.6%Free cash flow margin5.9%Fiscal year 2019Operating margin12.9%Net margin−4.1%Free cash flow margin3.1%Fiscal year 2020Operating margin9.8%Net margin−6.2%Free cash flow margin11.0%Fiscal year 2021Operating margin13.6%Net margin−3.2%Free cash flow margin1.3%Fiscal year 2022Operating margin13.6%Net margin−2.2%Free cash flow margin3.1%Fiscal year 2023Operating margin12.0%Net margin−0.4%Free cash flow margin7.5%Fiscal year 2024Operating margin11.2%Net margin−5.4%Free cash flow margin6.7%Fiscal year 2025Operating margin11.8%Net margin−2.4%Free cash flow margin5.9%
FY2016FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 17.2% 4.4% 12.9% 9.8% 13.6% 13.6% 12.0% 11.2% 11.8%
Net margin 0.8% −11.6% −4.1% −6.2% −3.2% −2.2% −0.4% −5.4% −2.4%
Free cash flow margin 7.5% 5.9% 3.1% 11.0% 1.3% 3.1% 7.5% 6.7% 5.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow125.2Capital expenditure−39.1Free cash flow86.1Buybacks0.0Fiscal year 2018Operating cash flow144.6Capital expenditure−39.8Free cash flow104.8 +21.7%Buybacks−2.0Fiscal year 2019Operating cash flow129.5Capital expenditure−73.6Free cash flow55.9 −46.7%Buybacks0.0Fiscal year 2020Operating cash flow246.9Capital expenditure−42.9Free cash flow204.0 +264.9%Buybacks0.0Fiscal year 2021Operating cash flow87.1Capital expenditure−57.6Free cash flow29.5 −85.5%Fiscal year 2022Operating cash flow158.8Capital expenditure−80.6Free cash flow78.2 +165.1%Fiscal year 2023Operating cash flow293.8Capital expenditure−88.8Free cash flow205.0 +162.1%Fiscal year 2024Operating cash flow300.1Capital expenditure−90.4Free cash flow209.7 +2.3%Fiscal year 2025Operating cash flow274.3Capital expenditure−78.7Free cash flow195.6 −6.7%
FY2016FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 125.2 144.6 129.5 246.9 87.1 158.8 293.8 300.1 274.3
Capital expenditure −39.1 −39.8 −73.6 −42.9 −57.6 −80.6 −88.8 −90.4 −78.7
Free cash flow 86.1 104.8 55.9 204.0 29.5 78.2 205.0 209.7 195.6
Growth +21.7% −46.7% +264.9% −85.5% +165.1% +162.1% +2.3% −6.7%
Buybacks 0.0 −2.0 0.0 0.0 n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash69.7Total debt1,474.5Net cash (debt)−1,404.8Shareholders’ equity9.7Debt to equity152.37Fiscal year 2018Cash184.3Total debt2,328.1Net cash (debt)−2,143.8Shareholders’ equity404.6Debt to equity5.75Fiscal year 2019Cash92.7Total debt2,596.1Net cash (debt)−2,503.4Shareholders’ equity296.8Debt to equity8.75Fiscal year 2020Cash317.9Total debt2,876.8Net cash (debt)−2,558.9Shareholders’ equity115.6Debt to equity24.89Fiscal year 2021Cash389.9Total debt2,958.3Net cash (debt)−2,568.4Shareholders’ equity1,089.0Debt to equity2.72Fiscal year 2022Cash282.9Total debt2,634.1Net cash (debt)−2,351.2Shareholders’ equity1,998.2Debt to equity1.32Fiscal year 2023Cash195.9Total debt2,803.8Net cash (debt)−2,607.9Shareholders’ equity1,987.2Debt to equity1.41Fiscal year 2024Cash269.5Total debt3,404.6Net cash (debt)−3,135.1Shareholders’ equity1,789.7Debt to equity1.90Fiscal year 2025Cash239.9Total debt3,735.4Net cash (debt)−3,495.5Shareholders’ equity1,712.9Debt to equity2.18
FY2016FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 69.7 184.3 92.7 317.9 389.9 282.9 195.9 269.5 239.9
Total debt 1,474.5 2,328.1 2,596.1 2,876.8 2,958.3 2,634.1 2,803.8 3,404.6 3,735.4
Net cash (debt) −1,404.8 −2,143.8 −2,503.4 −2,558.9 −2,568.4 −2,351.2 −2,607.9 −3,135.1 −3,495.5
Shareholders’ equity 9.7 404.6 296.8 115.6 1,089.0 1,998.2 1,987.2 1,789.7 1,712.9
Debt to equity 152.37 5.75 8.75 24.89 2.72 1.32 1.41 1.90 2.18

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1,145.4 1,771.5 1,831.4 1,860.1 2,225.1 2,539.3 2,743.3 3,114.3 3,308.7
Growth +54.7% +3.4% +1.6% +19.6% +14.1% +8.0% +13.5% +6.2%
821.2 1,361.4 1,407.6 n/a n/a n/a n/a n/a n/a
60.2 93.6 88.6 97.1 104.0 102.2 120.9 138.7 118.2
196.5 77.8 235.9 183.0 302.2 345.2 328.0 348.8 389.5
Growth −60.4% +203.2% −22.4% +65.1% +14.2% −5.0% +6.3% +11.7%
7.1 26.4 9.5 −20.1 10.5 23.3 −0.3 134.6 18.0
9.5 −205.7 −74.8 −116.1 −70.9 −54.6 −11.9 −168.1 −77.9
Growth −2,276.0%
Per share
0.20 −4.96 −2.29 −3.19 −1.12 −0.59 −0.09 −1.33 −0.61
0.20 −4.96 −2.29 −3.19 −1.12 −0.59 −0.09 −1.33 −0.61
Growth −2,580.0%
48.0 48.0 48.3 48.8 72.4 92.0 125.6 126.1 127.2
48.2 48.0 48.3 48.8 72.4 92.0 125.6 126.1 127.2
Growth −0.3% +0.5% +1.0% +48.5% +27.0% +36.6% +0.4% +0.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 12.2% a year over five years.
  • The diluted share count rose 160.8% in five years, which is dilution.
  • Operating margin is up 1.9 points on five years ago, at 11.8%.
  • A net loss in 8 of 9 years on file.