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

Universal Health Services

UHS Clue Score58
United States Fiscal year ends December CIK 0000352915
$177.35 +0.93% Close, 9 Oct 2026
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Price $177.35 +36.32% 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 2016Revenue9.77Operating income1.28Net income0.70EPS, diluted7.14Fiscal year 2017Revenue10.41 +6.6%Operating income1.28Net income0.75 +7.1%EPS, diluted7.81 +9.4%Fiscal year 2018Revenue10.77 +3.5%Operating income1.18Net income0.78 +3.6%EPS, diluted8.31 +6.4%Fiscal year 2019Revenue11.38 +5.6%Operating income1.22Net income0.81 +4.5%EPS, diluted9.13 +9.9%Fiscal year 2020Revenue11.56 +1.6%Operating income1.36Net income0.94 +15.8%EPS, diluted10.99 +20.4%Fiscal year 2021Revenue12.64 +9.4%Operating income1.36Net income0.99 +5.0%EPS, diluted11.82 +7.6%Fiscal year 2022Revenue13.40 +6.0%Operating income1.00Net income0.68 −31.9%EPS, diluted9.14 −22.7%Fiscal year 2023Revenue14.28 +6.6%Operating income1.18Net income0.72 +6.2%EPS, diluted10.23 +11.9%Fiscal year 2024Revenue15.83 +10.8%Operating income1.68Net income1.14 +59.1%EPS, diluted16.82 +64.4%Fiscal year 2025Revenue17.36 +9.7%Operating income1.99Net income1.49 +30.4%EPS, diluted23.10 +37.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 9.77 10.41 10.77 11.38 11.56 12.64 13.40 14.28 15.83 17.36
Growth +6.6% +3.5% +5.6% +1.6% +9.4% +6.0% +6.6% +10.8% +9.7%
Operating income 1.28 1.28 1.18 1.22 1.36 1.36 1.00 1.18 1.68 1.99
Net income 0.70 0.75 0.78 0.81 0.94 0.99 0.68 0.72 1.14 1.49
Growth +7.1% +3.6% +4.5% +15.8% +5.0% −31.9% +6.2% +59.1% +30.4%
EPS, diluted 7.14 7.81 8.31 9.13 10.99 11.82 9.14 10.23 16.82 23.10
Growth +9.4% +6.4% +9.9% +20.4% +7.6% −22.7% +11.9% +64.4% +37.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin13.1%Net margin7.2%Free cash flow margin8.3%Fiscal year 2017Operating margin12.3%Net margin7.2%Free cash flow margin6.6%Fiscal year 2018Operating margin10.9%Net margin7.2%Free cash flow margin5.7%Fiscal year 2019Operating margin10.7%Net margin7.2%Free cash flow margin7.1%Fiscal year 2020Operating margin11.8%Net margin8.2%Free cash flow margin14.1%Fiscal year 2021Operating margin10.8%Net margin7.8%Free cash flow margin0.2%Fiscal year 2022Operating margin7.5%Net margin5.0%Free cash flow margin2.0%Fiscal year 2023Operating margin8.2%Net margin5.0%Free cash flow margin3.7%Fiscal year 2024Operating margin10.6%Net margin7.2%Free cash flow margin7.1%Fiscal year 2025Operating margin11.5%Net margin8.6%Free cash flow margin4.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 13.1% 12.3% 10.9% 10.7% 11.8% 10.8% 7.5% 8.2% 10.6% 11.5%
Net margin 7.2% 7.2% 7.2% 7.2% 8.2% 7.8% 5.0% 5.0% 7.2% 8.6%
Free cash flow margin 8.3% 6.6% 5.7% 7.1% 14.1% 0.2% 2.0% 3.7% 7.1% 4.9%

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 flow1.33Capital expenditure−0.52Free cash flow0.81Buybacks−0.35Dividends paid−0.04Fiscal year 2017Operating cash flow1.25Capital expenditure−0.56Free cash flow0.69 −15.2%Buybacks−0.36Dividends paid−0.04Fiscal year 2018Operating cash flow1.27Capital expenditure−0.66Free cash flow0.61 −11.6%Buybacks−0.40Dividends paid−0.04Fiscal year 2019Operating cash flow1.44Capital expenditure−0.63Free cash flow0.80 +31.9%Buybacks−0.77Dividends paid−0.05Fiscal year 2020Operating cash flow2.36Capital expenditure−0.73Free cash flow1.63 +102.5%Buybacks−0.21Dividends paid−0.02Fiscal year 2021Operating cash flow0.88Capital expenditure−0.86Free cash flow0.03 −98.3%Buybacks−1.22Dividends paid−0.07Fiscal year 2022Operating cash flow1.00Capital expenditure−0.73Free cash flow0.26 +834.6%Buybacks−0.83Dividends paid−0.06Fiscal year 2023Operating cash flow1.27Capital expenditure−0.74Free cash flow0.52 +100.3%Buybacks−0.55Dividends paid−0.06Fiscal year 2024Operating cash flow2.07Capital expenditure−0.94Free cash flow1.12 +114.1%Buybacks−0.67Dividends paid−0.05Fiscal year 2025Operating cash flow1.86Capital expenditure−1.02Free cash flow0.85 −24.4%Buybacks−0.97Dividends paid−0.05
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.33 1.25 1.27 1.44 2.36 0.88 1.00 1.27 2.07 1.86
Capital expenditure −0.52 −0.56 −0.66 −0.63 −0.73 −0.86 −0.73 −0.74 −0.94 −1.02
Free cash flow 0.81 0.69 0.61 0.80 1.63 0.03 0.26 0.52 1.12 0.85
Growth −15.2% −11.6% +31.9% +102.5% −98.3% +834.6% +100.3% +114.1% −24.4%
Buybacks −0.35 −0.36 −0.40 −0.77 −0.21 −1.22 −0.83 −0.55 −0.67 −0.97
Dividends paid −0.04 −0.04 −0.04 −0.05 −0.02 −0.07 −0.06 −0.06 −0.05 −0.05

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.03Total debt4.14Net cash (debt)−4.10Shareholders’ equity4.53Debt to equity0.91Fiscal year 2017Cash0.07Total debt4.04Net cash (debt)−3.97Shareholders’ equity4.99Debt to equity0.81Fiscal year 2018Cash0.11Total debt4.00Net cash (debt)−3.89Shareholders’ equity5.39Debt to equity0.74Fiscal year 2019Cash0.06Total debt3.98Net cash (debt)−3.92Shareholders’ equity5.50Debt to equity0.72Fiscal year 2020Cash1.22Total debt3.86Net cash (debt)−2.63Shareholders’ equity6.32Debt to equity0.61Fiscal year 2021Cash0.12Total debt4.19Net cash (debt)−4.07Shareholders’ equity6.09Debt to equity0.69Fiscal year 2022Cash0.10Total debt4.81Net cash (debt)−4.71Shareholders’ equity5.92Debt to equity0.81Fiscal year 2023Cash0.12Total debt4.91Net cash (debt)−4.79Shareholders’ equity6.15Debt to equity0.80Fiscal year 2024Cash0.13Total debt4.50Net cash (debt)−4.38Shareholders’ equity6.67Debt to equity0.68Fiscal year 2025Cash0.14Total debt4.75Net cash (debt)−4.61Shareholders’ equity7.28Debt to equity0.65
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.03 0.07 0.11 0.06 1.22 0.12 0.10 0.12 0.13 0.14
Total debt 4.14 4.04 4.00 3.98 3.86 4.19 4.81 4.91 4.50 4.75
Net cash (debt) −4.10 −3.97 −3.89 −3.92 −2.63 −4.07 −4.71 −4.79 −4.38 −4.61
Shareholders’ equity 4.53 4.99 5.39 5.50 6.32 6.09 5.92 6.15 6.67 7.28
Debt to equity 0.91 0.81 0.74 0.72 0.61 0.69 0.81 0.80 0.68 0.65

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

Financial statements FY2025 · 10-K

Income statement

In billions 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 FY2017 31 Dec 2017 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
9.77 10.41 10.77 11.38 11.56 12.64 13.40 14.28 15.83 17.36
Growth +6.6% +3.5% +5.6% +1.6% +9.4% +6.0% +6.6% +10.8% +9.7%
1.28 1.28 1.18 1.22 1.36 1.36 1.00 1.18 1.68 1.99
Growth −0.1% −8.2% +3.5% +11.7% +0.3% −26.4% +17.1% +43.1% +18.6%
1.16 1.14 1.03 1.07 1.25 1.29 0.87 0.94 1.50 1.97
0.41 0.36 0.24 0.24 0.30 0.31 0.21 0.22 0.33 0.46
0.70 0.75 0.78 0.81 0.94 0.99 0.68 0.72 1.14 1.49
Growth +7.1% +3.6% +4.5% +15.8% +5.0% −31.9% +6.2% +59.1% +30.4%
Per share
7.22 7.86 8.35 9.16 11.06 11.99 9.23 10.35 17.16 23.42
7.14 7.81 8.31 9.13 10.99 11.82 9.14 10.23 16.82 23.10
Growth +9.4% +6.4% +9.9% +20.4% +7.6% −22.7% +11.9% +64.4% +37.3%
97.2 95.7 93.3 88.8 85.1 82.5 73.1 69.3 66.6 63.6
98.4 96.3 93.8 89.0 85.6 83.7 73.8 70.1 67.9 64.5
Growth −2.1% −2.7% −5.0% −3.9% −2.2% −11.8% −5.0% −3.2% −5.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 8.5% a year over five years, and earnings per share grew 16.0% a year.
  • The diluted share count fell 24.7% in five years, so buybacks did some of the work per share.
  • Operating margin is flat at 11.5%.
  • Profitable in every one of the 10 years on file.