Surgery Partners (SGRY) Financials

$22.80 -0.09 (-0.39%)

Closing price 05/29/2025 04:00 PM Eastern

Extended Trading

$23.02 +0.22 (+0.96%)

As of 05/29/2025 05:49 PM Eastern

Annual Income Statements for Surgery Partners

This table shows Surgery Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	-168	-12	-55	-81	-156	-111	-238	9.45	1.43
Consolidated Net Income / (Loss)	13	135	87	71	1.30	45	-96	85	73
Net Income / (Loss) Continuing Operations	13	135	87	71	1.30	45	-96	85	73
Total Pre-Tax Income	147	135	110	81	-19	55	-69	92	-76
Total Operating Income	349	328	345	302	183	236	78	196	145
Total Gross Profit	1,192	1,950	1,083	944	771	774	497	324	291
Total Revenue	3,114	2,743	2,539	2,225	1,860	1,831	1,772	1,145	960
Operating Revenue	3,114	2,743	2,539	2,225	1,860	1,831	1,772	1,145	960
Total Cost of Revenue	1,922	794	1,456	1,281	1,089	1,058	1,275	821	669
Operating Cost of Revenue	1,922	794	1,456	1,281	1,089	1,058	1,275	821	669
Total Operating Expenses	843	1,622	738	642	588	538	419	128	146
Selling, General & Admin Expense	496	1,338	528	466	401	353	94	60	56
Depreciation Expense	153	118	115	99	95	77	67	40	35
Other Operating Expenses / (Income)	116	101	96	53	36	83	110	34	40
Restructuring Charge	100	62	48	40	23	19	32	8.74	18
Other Special Charges / (Income)	-21	3.10	-48	-16	-0.50	-1.20	42	-14	-2.62
Total Other Income / (Expense), net	-202	-193	-235	-221	-202	-181	-147	-104	-221
Interest & Investment Income	-202	-193	-235	-221	-202	-179	-147	-101	-101
Income Tax Expense	135	-0.30	23	11	-20	9.50	26	7.10	-149
Net Income / (Loss) Attributable to Noncontrolling Interest	181	147	142	142	157	156	143	76	71
Basic Earnings per Share	($1.33)	($0.09)	($0.59)	($1.12)	($3.19)	($2.29)	($4.96)	$0.20	$0.04
Weighted Average Basic Shares Outstanding	126.12M	125.61M	91.95M	72.43M	48.78M	48.28M	48.03M	48.02M	36.07M
Diluted Earnings per Share	($1.33)	($0.09)	($0.59)	($1.12)	($3.19)	($2.29)	($4.96)	$0.20	$0.04
Weighted Average Diluted Shares Outstanding	126.12M	125.61M	91.95M	72.43M	48.78M	48.28M	48.03M	48.19M	37.46M
Weighted Average Basic & Diluted Shares Outstanding	127.61M	126.61M	126.03M	89.36M	48.78M	48.28M	48.03M	48.63M	35.70M

This table shows Surgery Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-109	-32	-16	-12	-1.00	-4.90	19	-25	-23	-25
Consolidated Net Income / (Loss)	-47	6.40	28	24	47	30	58	1.20	23	5.60
Net Income / (Loss) Continuing Operations	-47	6.40	28	24	47	30	58	1.20	23	5.60
Total Pre-Tax Income	74	11	33	29	53	33	50	-0.40	33	13
Total Operating Income	127	61	85	76	101	83	98	46	94	74
Total Gross Profit	97	542	294	259	768	479	472	230	395	221
Total Revenue	864	770	762	717	735	674	668	666	707	621
Operating Revenue	864	770	762	717	735	674	668	666	707	621
Total Cost of Revenue	767	228	468	458	-33	195	195	436	312	400
Operating Cost of Revenue	767	228	468	458	-33	195	195	436	312	400
Total Operating Expenses	-30	481	209	183	667	397	375	184	301	147
Selling, General & Admin Expense	-123	370	133	116	575	329	328	107	219	86
Depreciation Expense	34	50	35	34	31	29	24	34	30	30
Other Operating Expenses / (Income)	34	33	28	20	38	23	10	29	41	21
Restructuring Charge	34	29	19	17	24	13	12	13	20	13
Other Special Charges / (Income)	-9.30	-1.70	-6.00	-3.80	-1.80	2.40	0.30	2.20	-8.10	-2.40
Total Other Income / (Expense), net	-53	-50	-52	-47	-49	-50	-48	-47	-61	-61
Interest & Investment Income	-53	-50	-52	-47	-49	-50	-48	-47	-61	-61
Income Tax Expense	121	4.50	4.90	4.40	6.00	3.10	-7.80	-1.60	9.90	7.80
Net Income / (Loss) Attributable to Noncontrolling Interest	62	38	44	37	48	35	39	26	47	31
Basic Earnings per Share	($0.86)	($0.25)	($0.12)	($0.10)	-	($0.04)	$0.15	($0.20)	($0.24)	($0.28)
Weighted Average Basic Shares Outstanding	126.12M	126.17M	126.13M	125.97M	125.61M	125.75M	125.72M	125.21M	91.95M	88.91M
Diluted Earnings per Share	($0.86)	($0.25)	($0.12)	($0.10)	-	($0.04)	$0.15	($0.20)	($0.24)	($0.28)
Weighted Average Diluted Shares Outstanding	126.12M	126.17M	126.13M	125.97M	125.61M	125.75M	127.37M	125.21M	91.95M	88.91M
Weighted Average Basic & Diluted Shares Outstanding	127.61M	127.11M	127.12M	127.09M	126.61M	126.49M	126.50M	126.48M	126.03M	89.95M

This table details how cash moves in and out of Surgery Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	74	-87	-107	72	225	-92	9.40	12	-17
Net Cash From Operating Activities	300	294	159	87	247	130	145	125	84
Net Cash From Continuing Operating Activities	300	294	159	87	247	130	145	125	84
Net Income / (Loss) Continuing Operations	13	135	87	71	1.30	45	-96	85	73
Consolidated Net Income / (Loss)	13	135	87	71	1.30	45	-96	85	73
Depreciation Expense	153	118	115	99	95	77	67	40	35
Non-Cash Adjustments To Reconcile Net Income	122	106	96	-16	93	68	114	37	165
Changes in Operating Assets and Liabilities, net	13	-65	-139	-67	58	-60	59	-37	-194
Net Cash From Investing Activities	-489	-226	-308	-332	-88	-85	-129	-185	-135
Net Cash From Continuing Investing Activities	-489	-226	-308	-332	-88	-85	-129	-185	-135
Purchase of Property, Plant & Equipment	-90	-89	-81	-58	-43	-74	-40	-39	-33
Acquisitions	-381	-130	-242	-286	-105	-14	-107	-146	-113
Sale of Property, Plant & Equipment	2.60	26	13	6.00	59	18	19	-	-
Divestitures	4.60	1.40	13	5.40	0.00	-	-	0.77	11
Other Investing Activities, net	-25	-34	-12	0.30	0.60	-0.20	-1.50	0.00	-
Net Cash From Financing Activities	262	-155	42	316	67	-136	-6.30	71	33
Net Cash From Continuing Financing Activities	262	-155	42	316	67	-136	-6.30	71	33
Repayment of Debt	-1,307	-844	-883	-373	-226	-518	-168	-493	-336
Repurchase of Common Equity	0.00	0.00	-25	-28	0.00	0.00	-2.00	0.00	0.00
Payment of Dividends	-161	-138	-150	-165	-137	-124	-119	-86	-82
Issuance of Debt	1,730	827	218	299	429	507	283	651	196
Issuance of Common Equity	0.00	0.00	883	582	0.00	0.00	-	0.00	251
Cash Interest Paid	200	170	219	194	204	180	145	79	97
Cash Income Taxes Paid	1.60	1.40	1.80	1.50	1.70	1.60	2.20	0.66	1.09

This table details how cash moves in and out of Surgery Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	48	8.30	28	-11	-40	59	-68	-37	128	-73
Net Cash From Operating Activities	111	65	83	41	63	105	52	75	7.20	30
Net Cash From Continuing Operating Activities	111	65	83	41	63	105	52	75	7.20	30
Net Income / (Loss) Continuing Operations	-47	6.40	28	24	47	30	58	1.20	23	5.60
Consolidated Net Income / (Loss)	-47	6.40	28	24	47	30	58	1.20	23	5.60
Depreciation Expense	34	50	35	34	31	29	24	34	30	30
Non-Cash Adjustments To Reconcile Net Income	34	34	36	18	41	24	11	30	34	64
Changes in Operating Assets and Liabilities, net	90	-26	-16	-35	-57	23	-41	9.60	-80	-69
Net Cash From Investing Activities	-112	-50	-244	-83	-58	-26	-71	-71	-72	-54
Net Cash From Continuing Investing Activities	-112	-50	-244	-83	-58	-26	-71	-71	-72	-54
Purchase of Property, Plant & Equipment	-22	-20	-27	-21	-20	-19	-26	-24	-23	-17
Acquisitions	-88	-27	-210	-57	-31	-7.10	-42	-50	-64	-37
Sale of Property, Plant & Equipment	1.10	-	-	1.50	-	-0.30	18	8.00	13	-
Divestitures	0.60	-	-	-	0.40	1.00	-	-	1.30	-
Other Investing Activities, net	-3.50	-2.80	-12	-7.00	-7.40	-0.30	-22	-4.10	0.10	-
Net Cash From Financing Activities	48	-7.30	190	32	-45	-20	-49	-41	193	-48
Net Cash From Continuing Financing Activities	48	-7.30	190	32	-45	-20	-49	-41	193	-48
Repayment of Debt	-174	-139	-873	-122	-724	-79	-20	-20	-795	-52
Payment of Dividends	-44	-37	-41	-39	-28	-34	-40	-37	-36	-35
Issuance of Debt	266	168	1,103	193	707	93	11	16	167	39

This table presents Surgery Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	7,890	6,877	6,682	6,118	5,413	5,019	4,676	4,623	2,305	2,104
Total Current Assets	1,119	895	921	946	802	526	588	563	362	311
Cash & Equivalents	270	196	283	390	318	93	184	175	70	58
Accounts Receivable	579	496	456	430	382	327	308	288	221	178
Inventories, net	88	75	71	61	56	46	43	45	29	26
Prepaid Expenses	36	31	31	26	18	18	16	17	43	35
Other Current Assets	146	97	79	39	27	42	37	39	-	15
Plant, Property, & Equipment, net	1,088	969	877	0.00	0.00	523	426	0.00	0.00	185
Total Noncurrent Assets	5,682	5,013	4,885	5,172	4,612	3,970	3,662	4,060	1,943	1,609
Long-Term Investments	215	184	190	89	90	93	79	74	35	34
Goodwill	5,068	4,326	4,137	3,912	3,468	3,402	3,383	3,347	1,555	1,408
Intangible Assets	46	55	42	44	47	47	54	59	48	54
Noncurrent Deferred & Refundable Income Taxes	0.00	90	92	114	125	99	109	132	84	94
Other Noncurrent Operating Assets	353	359	423	1,013	882	329	37	49	16	19
Total Liabilities & Shareholders' Equity	7,890	6,877	6,682	6,118	5,413	5,019	4,676	4,623	2,305	2,104
Total Liabilities	4,255	3,515	3,399	3,818	3,790	3,320	2,892	2,656	1,800	1,623
Total Current Liabilities	624	523	493	537	557	398	349	303	187	181
Short-Term Debt	101	73	63	60	64	56	56	59	28	27
Accounts Payable	209	172	152	125	100	97	83	85	50	45
Current Employee Benefit Liabilities	60	74	69	77	65	54	55	50	29	26
Other Current Liabilities	254	204	210	210	217	191	155	110	80	82
Total Noncurrent Liabilities	3,630	2,992	2,906	3,281	3,233	2,921	2,542	2,353	1,613	1,442
Long-Term Debt	3,269	2,702	2,559	2,878	2,792	2,525	2,271	2,131	1,414	1,228
Noncurrent Deferred & Payable Income Tax Liabilities	39	0.00	-	-	-	-	-	-	122	120
Other Noncurrent Operating Liabilities	322	290	347	403	441	397	271	222	76	94
Redeemable Noncontrolling Interest	439	327	342	330	741	716	686	630	181	183
Total Equity & Noncontrolling Interests	3,196	3,035	2,941	1,970	882	983	1,099	1,337	325	298
Total Preferred & Common Equity	1,790	1,987	1,998	1,089	116	297	405	655	9.68	-4.03
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,790	1,987	1,998	1,089	116	297	405	655	9.68	-4.03
Common Stock	2,522	2,499	2,479	1,623	608	663	674	696	321	317
Retained Earnings	-737	-569	-557	-503	-432	-316	-247	-41	-311	-321
Accumulated Other Comprehensive Income / (Loss)	4.80	58	76	-32	-61	-51	-22	0.00	-	-
Noncontrolling Interest	1,407	1,047	943	881	767	687	694	682	315	302

This table presents Surgery Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	7,534	7,489	6,976	6,780	6,621	6,643	6,537
Total Current Assets	1,036	1,013	896	876	810	869	738
Cash & Equivalents	222	214	185	236	177	246	155
Accounts Receivable	543	523	494	463	450	453	422
Inventories, net	82	81	77	69	70	72	69
Prepaid Expenses	45	45	32	35	39	29	36
Other Current Assets	144	150	108	73	73	69	57
Plant, Property, & Equipment, net	1,005	1,006	983	940	0.00	0.00	0.00
Total Noncurrent Assets	5,494	5,470	5,097	4,964	5,810	5,774	5,798
Long-Term Investments	215	227	189	196	192	192	189
Goodwill	4,862	4,859	4,451	4,301	4,291	4,253	4,187
Noncurrent Deferred & Refundable Income Taxes	79	82	87	105	106	93	103
Other Noncurrent Operating Assets	339	303	370	362	1,221	1,237	1,320
Total Liabilities & Shareholders' Equity	7,534	7,489	6,976	6,780	6,621	6,643	6,537
Total Liabilities	3,986	3,870	3,614	3,461	3,310	3,355	4,092
Total Current Liabilities	575	552	523	501	459	475	624
Short-Term Debt	97	92	77	62	65	63	117
Accounts Payable	171	174	174	149	132	144	138
Current Employee Benefit Liabilities	65	63	69	82	64	68	69
Other Current Liabilities	242	222	204	208	198	200	292
Total Noncurrent Liabilities	3,411	3,318	3,091	2,960	2,851	2,880	3,468
Long-Term Debt	3,094	3,040	2,794	2,640	2,505	2,531	3,103
Other Noncurrent Operating Liabilities	317	279	297	320	346	349	365
Redeemable Noncontrolling Interest	436	442	324	332	328	346	339
Total Equity & Noncontrolling Interests	3,112	3,176	3,038	2,987	2,983	2,943	2,105
Total Preferred & Common Equity	1,897	1,952	1,967	2,005	2,018	1,962	1,173
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,897	1,952	1,967	2,005	2,018	1,962	1,173
Common Stock	2,515	2,512	2,497	2,496	2,503	2,479	1,624
Retained Earnings	-629	-597	-582	-568	-563	-582	-534
Accumulated Other Comprehensive Income / (Loss)	11	37	52	77	79	65	83
Noncontrolling Interest	1,215	1,224	1,071	982	965	981	933

This table displays calculated financial ratios and metrics derived from Surgery Partners' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	13.52%	8.03%	14.12%	19.62%	1.57%	3.38%	0.00%	19.33%	138.02%
EBITDA Growth	12.40%	-3.02%	14.71%	44.35%	-10.39%	113.50%	0.00%	256.18%	-6.21%
EBIT Growth	6.34%	-4.98%	14.23%	65.14%	-21.63%	200.13%	0.00%	675.87%	-51.10%
NOPAT Growth	-90.98%	20.73%	3.48%	105.40%	-34.26%	257.79%	0.00%	78.98%	184.91%
Net Income Growth	-90.76%	55.52%	23.06%	5,338.46%	-97.12%	147.18%	0.00%	16.80%	369.28%
EPS Growth	-1,377.78%	84.75%	47.32%	64.89%	-39.30%	53.83%	0.00%	400.00%	101.96%
Operating Cash Flow Growth	2.14%	85.01%	82.32%	-64.72%	90.66%	-10.44%	0.00%	48.25%	284.90%
Free Cash Flow Firm Growth	-22,831.05%	100.81%	6.04%	-382.69%	395.61%	0.00%	0.00%	77.38%	94.85%
Invested Capital Growth	13.26%	5.99%	14.11%	16.90%	-0.54%	6.38%	0.00%	12.05%	11.93%
Revenue Q/Q Growth	4.32%	1.04%	3.97%	2.86%	1.70%	1.44%	0.00%	3.87%	0.00%
EBITDA Q/Q Growth	6.03%	1.99%	-2.89%	4.07%	12.02%	68.39%	0.00%	20.14%	0.00%
EBIT Q/Q Growth	7.95%	2.24%	-5.63%	6.52%	15.46%	112.66%	0.00%	29.18%	0.00%
NOPAT Q/Q Growth	-89.11%	5.77%	-7.97%	-15.71%	15.46%	148.10%	0.00%	73.64%	0.00%
Net Income Q/Q Growth	-88.19%	20.91%	-18.39%	-6.61%	105.42%	153.37%	0.00%	2.41%	0.00%
EPS Q/Q Growth	-182.98%	72.73%	-156.52%	17.04%	13.08%	53.74%	0.00%	-44.44%	0.00%
Operating Cash Flow Q/Q Growth	19.42%	23.24%	-7.30%	14.15%	-6.26%	-13.44%	0.00%	6.99%	59.38%
Free Cash Flow Firm Q/Q Growth	-65.93%	-92.29%	45.23%	-146.10%	-41.60%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	3.45%	3.01%	2.10%	10.82%	6.87%	3.48%	0.00%	2.53%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	38.28%	71.06%	42.66%	42.44%	41.47%	42.24%	28.04%	28.31%	30.27%
EBITDA Margin	16.10%	16.26%	18.12%	18.02%	14.93%	16.93%	8.20%	20.28%	6.79%
Operating Margin	11.20%	11.96%	13.59%	13.58%	9.84%	12.88%	4.39%	17.15%	15.08%
EBIT Margin	11.20%	11.96%	13.59%	13.58%	9.84%	12.75%	4.39%	16.83%	2.59%
Profit (Net Income) Margin	0.40%	4.93%	3.43%	3.18%	0.07%	2.46%	-5.40%	7.43%	7.59%
Tax Burden Percent	8.50%	100.22%	78.88%	87.07%	-6.91%	82.60%	138.15%	92.30%	-95.68%
Interest Burden Percent	42.17%	41.16%	31.95%	26.87%	-10.27%	23.38%	-88.95%	47.82%	-306.47%
Effective Tax Rate	91.50%	-0.22%	21.12%	12.93%	0.00%	17.40%	0.00%	7.70%	0.00%
Return on Invested Capital (ROIC)	0.48%	5.88%	5.34%	5.96%	3.14%	4.91%	1.42%	10.40%	6.51%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.17%	-2.64%	-2.70%	-1.88%	-2.10%	-1.81%	-5.86%	2.70%	4.15%
Return on Net Nonoperating Assets (RNNOA)	-0.13%	-1.80%	-2.23%	-2.35%	-3.06%	-2.32%	-6.77%	6.85%	14.20%
Return on Equity (ROE)	0.36%	4.07%	3.12%	3.60%	0.08%	2.59%	-5.36%	17.25%	20.71%
Cash Return on Invested Capital (CROIC)	-11.96%	0.06%	-7.83%	-9.62%	3.68%	-1.28%	0.00%	-0.96%	-4.75%
Operating Return on Assets (OROA)	4.72%	4.84%	5.39%	5.24%	3.51%	4.82%	1.67%	8.74%	1.25%
Return on Assets (ROA)	0.17%	2.00%	1.36%	1.23%	0.02%	0.93%	-2.06%	3.86%	3.68%
Return on Common Equity (ROCE)	0.19%	2.44%	1.72%	1.11%	0.01%	0.52%	-1.51%	0.10%	-7.89%
Return on Equity Simple (ROE_SIMPLE)	0.70%	6.81%	4.35%	6.49%	1.12%	15.20%	-23.63%	879.23%	-1,808.47%
Net Operating Profit after Tax (NOPAT)	30	329	272	263	128	195	54	181	101
NOPAT Margin	0.95%	11.98%	10.72%	11.83%	6.89%	10.64%	3.07%	15.83%	10.56%
Net Nonoperating Expense Percent (NNEP)	0.65%	8.51%	8.04%	7.84%	5.24%	6.72%	7.27%	7.70%	2.36%
Return On Investment Capital (ROIC_SIMPLE)	0.45%	5.66%	4.89%	-	-	-	-	-	-
Cost of Revenue to Revenue	61.72%	28.94%	57.34%	57.56%	58.53%	57.76%	71.96%	71.69%	69.73%
SG&A Expenses to Revenue	15.92%	48.77%	20.80%	20.96%	21.57%	19.26%	5.28%	5.26%	5.83%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.08%	59.11%	29.06%	28.86%	31.63%	29.35%	23.65%	11.15%	15.19%
Earnings before Interest and Taxes (EBIT)	349	328	345	302	183	234	78	193	25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	501	446	460	401	278	310	145	232	65
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.50	2.04	1.25	4.04	12.67	2.61	1.18	79.43	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.86	1.48	0.99	1.98	0.79	0.42	0.27	0.67	1.03
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	81.31	690.51
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.23%	0.14%
Enterprise Value to Invested Capital (EV/IC)	1.14	1.36	1.09	1.70	1.33	1.12	1.02	1.41	1.60
Enterprise Value to Revenue (EV/Rev)	2.38	2.85	2.34	3.63	2.91	2.50	2.21	2.27	2.75
Enterprise Value to EBITDA (EV/EBITDA)	14.80	17.52	12.91	20.13	19.52	14.75	27.01	11.20	40.40
Enterprise Value to EBIT (EV/EBIT)	21.28	23.83	17.21	26.72	29.62	19.58	50.42	13.50	106.07
Enterprise Value to NOPAT (EV/NOPAT)	250.40	23.78	21.81	30.69	42.32	23.47	72.03	14.34	26.01
Enterprise Value to Operating Cash Flow (EV/OCF)	24.73	26.60	37.40	92.70	21.96	35.31	27.13	20.77	31.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2,420.75	0.00	0.00	36.07	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.93	0.83	0.80	1.28	1.76	1.52	1.30	2.85	2.61
Long-Term Debt to Equity	0.90	0.80	0.78	1.25	1.72	1.49	1.27	2.80	2.55
Financial Leverage	0.75	0.68	0.83	1.25	1.46	1.28	1.16	2.53	3.43
Leverage Ratio	2.11	2.04	2.29	2.94	3.14	2.78	2.48	4.47	5.63
Compound Leverage Factor	0.89	0.84	0.73	0.79	-0.32	0.65	-2.20	2.14	-17.27
Debt to Total Capital	48.11%	45.22%	44.40%	56.10%	63.77%	60.30%	56.59%	74.06%	72.28%
Short-Term Debt to Total Capital	1.45%	1.19%	1.06%	1.15%	1.44%	1.31%	1.35%	1.43%	1.57%
Long-Term Debt to Total Capital	46.66%	44.02%	43.34%	54.95%	62.33%	58.99%	55.24%	72.63%	70.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	26.34%	22.40%	21.76%	23.11%	33.65%	32.77%	33.57%	25.44%	27.95%
Common Equity to Total Capital	25.55%	32.38%	33.84%	20.79%	2.58%	6.93%	9.84%	0.50%	-0.23%
Debt to EBITDA	6.72	6.22	5.70	7.33	10.28	8.32	16.02	6.21	19.25
Net Debt to EBITDA	5.75	5.37	4.67	6.14	8.81	7.73	14.21	5.76	17.83
Long-Term Debt to EBITDA	6.52	6.06	5.56	7.18	10.05	8.14	15.64	6.09	18.83
Debt to NOPAT	113.71	8.44	9.63	11.17	22.30	13.24	42.72	7.95	12.39
Net Debt to NOPAT	97.35	7.29	7.89	9.35	19.11	12.29	37.89	7.37	11.48
Long-Term Debt to NOPAT	110.29	8.22	9.40	10.94	21.80	12.96	41.70	7.80	12.12
Altman Z-Score	0.86	1.20	0.95	1.18	0.63	0.60	0.52	0.93	0.72
Noncontrolling Interest Sharing Ratio	46.02%	40.02%	44.70%	69.30%	87.59%	79.87%	71.76%	99.43%	138.11%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	1.79	1.71	1.87	1.76	1.44	1.32	1.68	1.94	1.72
Quick Ratio	1.36	1.32	1.50	1.53	1.26	1.05	1.41	1.55	1.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-734	3.23	-399	-425	150	-51	0.00	-17	-74
Operating Cash Flow to CapEx	341.80%	466.35%	234.56%	168.80%	0.00%	231.25%	701.94%	320.23%	252.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.42	0.40	0.40	0.39	0.36	0.38	0.38	0.52	0.48
Accounts Receivable Turnover	5.79	5.76	5.73	5.48	5.25	5.77	5.95	5.75	5.95
Inventory Turnover	23.50	10.83	21.98	21.80	21.20	23.59	28.86	30.21	27.16
Fixed Asset Turnover	3.03	2.97	0.00	0.00	0.00	3.86	0.00	0.00	5.34
Accounts Payable Turnover	10.10	4.91	10.53	11.38	11.06	11.75	15.17	17.27	15.14
Days Sales Outstanding (DSO)	63.03	63.38	63.71	66.63	69.57	63.23	61.36	63.47	61.36
Days Inventory Outstanding (DIO)	15.53	33.70	16.61	16.74	17.22	15.47	12.65	12.08	13.44
Days Payable Outstanding (DPO)	36.13	74.35	34.66	32.08	33.01	31.05	24.05	21.14	24.10
Cash Conversion Cycle (CCC)	42.43	22.73	45.66	51.30	53.78	47.65	49.96	54.41	50.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	6,521	5,757	5,432	4,760	4,072	4,094	3,849	1,842	1,644
Invested Capital Turnover	0.51	0.49	0.50	0.50	0.46	0.46	0.46	0.66	0.62
Increase / (Decrease) in Invested Capital	764	326	672	688	-22	246	0.00	198	175
Enterprise Value (EV)	7,422	7,816	5,939	8,074	5,421	4,572	3,923	2,601	2,635
Market Capitalization	2,691	4,047	2,506	4,403	1,465	775	479	769	987
Book Value per Share	$14.08	$15.71	$22.21	$13.21	$2.29	$6.00	$8.28	$0.20	($0.08)
Tangible Book Value per Share	($26.15)	($18.92)	($24.25)	($34.77)	($67.32)	($63.69)	($62.03)	($32.86)	($30.43)
Total Capital	7,006	6,137	5,905	5,239	4,480	4,280	4,111	1,947	1,737
Total Debt	3,370	2,775	2,622	2,939	2,857	2,581	2,327	1,442	1,255
Total Long-Term Debt	3,269	2,702	2,559	2,878	2,792	2,525	2,271	1,414	1,228
Net Debt	2,885	2,395	2,149	2,460	2,449	2,395	2,064	1,337	1,163
Capital Expenditures (CapEx)	88	63	68	52	-16	56	21	39	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	327	249	208	80	-8.80	91	110	133	99
Debt-free Net Working Capital (DFNWC)	596	445	490	470	309	183	295	203	157
Net Working Capital (NWC)	495	372	428	409	245	127	239	175	130
Net Nonoperating Expense (NNE)	17	193	185	192	127	150	150	96	28
Net Nonoperating Obligations (NNO)	2,885	2,395	2,149	2,460	2,449	2,395	2,064	1,337	1,163
Total Depreciation and Amortization (D&A)	153	118	115	99	95	77	67	40	40
Debt-free, Cash-free Net Working Capital to Revenue	10.50%	9.09%	8.17%	3.59%	-0.47%	4.95%	6.23%	11.64%	10.31%
Debt-free Net Working Capital to Revenue	19.15%	16.23%	19.31%	21.11%	16.62%	10.01%	16.63%	17.73%	16.35%
Net Working Capital to Revenue	15.89%	13.56%	16.84%	18.39%	13.16%	6.96%	13.49%	15.30%	13.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.33)	($0.09)	($0.59)	($1.12)	($3.19)	($2.29)	($4.96)	$0.20	$0.04
Adjusted Weighted Average Basic Shares Outstanding	126.12M	125.61M	91.95M	72.43M	59.86M	49.29M	48.03M	48.02M	36.07M
Adjusted Diluted Earnings per Share	($1.33)	($0.09)	($0.59)	($1.12)	($3.19)	($2.29)	($4.96)	$0.20	$0.04
Adjusted Weighted Average Diluted Shares Outstanding	126.12M	125.61M	91.95M	72.43M	59.86M	49.29M	48.03M	48.19M	37.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($3.19)	($2.29)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	127.61M	126.61M	126.03M	89.36M	48.78M	48.28M	48.80M	48.63M	48.16M
Normalized Net Operating Profit after Tax (NOPAT)	300	275	272	284	167	216	158	176	112
Normalized NOPAT Margin	9.62%	10.02%	10.70%	12.78%	9.00%	11.80%	8.94%	15.37%	11.67%
Pre Tax Income Margin	4.72%	4.92%	4.34%	3.65%	-1.01%	2.98%	-3.91%	8.05%	-7.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1,287.20%	101.92%	172.64%	232.67%	10,538.46%	275.83%	-124.48%	100.93%	112.42%
Augmented Payout Ratio	1,287.20%	101.92%	201.61%	271.71%	10,538.46%	275.83%	-126.57%	100.93%	112.42%

This table displays calculated financial ratios and metrics derived from Surgery Partners' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.54%	14.29%	14.16%	7.69%	4.00%	8.62%	8.48%	11.74%	15.88%	10.98%
EBITDA Growth	21.51%	-0.36%	-1.97%	36.95%	7.03%	7.31%	16.75%	-37.32%	-9.96%	17.00%
EBIT Growth	25.35%	-26.27%	-13.11%	63.79%	7.64%	11.47%	27.58%	-53.78%	-17.94%	16.51%
NOPAT Growth	-188.83%	-52.19%	-35.92%	98.12%	35.92%	141.52%	88.99%	-66.67%	-26.57%	-44.18%
Net Income Growth	-199.79%	-78.45%	-50.78%	1,925.00%	100.43%	430.36%	277.12%	-97.20%	-45.69%	-31.71%
EPS Growth	0.00%	-525.00%	-180.00%	50.00%	0.00%	85.71%	171.43%	-242.86%	-300.00%	0.00%
Operating Cash Flow Growth	77.96%	-37.67%	58.93%	-45.37%	769.44%	252.19%	23.75%	-6.64%	-63.45%	99.33%
Free Cash Flow Firm Growth	-257.92%	-249.67%	-130.69%	20.35%	61.08%	80.47%	64.30%	45.50%	-1.24%	-131.47%
Invested Capital Growth	13.26%	12.78%	14.50%	7.60%	5.99%	5.05%	8.42%	9.47%	14.11%	23.86%
Revenue Q/Q Growth	12.20%	1.09%	6.23%	-2.45%	9.09%	0.97%	0.21%	-5.78%	13.94%	0.85%
EBITDA Q/Q Growth	44.91%	-7.11%	9.02%	-17.21%	18.83%	-8.61%	52.31%	-35.30%	19.15%	-0.57%
EBIT Q/Q Growth	108.70%	-28.18%	11.58%	-25.05%	22.76%	-15.37%	110.34%	-50.74%	27.13%	-3.14%
NOPAT Q/Q Growth	-323.23%	-50.56%	12.39%	-28.39%	20.14%	-33.73%	247.46%	-50.87%	113.49%	-48.14%
Net Income Q/Q Growth	-828.13%	-77.46%	16.87%	-47.97%	57.24%	-48.53%	4,708.33%	-94.85%	316.07%	-63.40%
EPS Q/Q Growth	-244.00%	-108.33%	-20.00%	0.00%	0.00%	-126.67%	175.00%	16.67%	14.29%	-33.33%
Operating Cash Flow Q/Q Growth	70.86%	-21.26%	103.44%	-34.98%	-40.15%	100.77%	-30.07%	934.72%	-75.76%	-29.45%
Free Cash Flow Firm Q/Q Growth	-24.26%	6.61%	-108.04%	-48.25%	-21.40%	38.39%	28.17%	27.55%	39.08%	-12.62%
Invested Capital Q/Q Growth	3.45%	-0.11%	7.70%	1.77%	3.01%	1.41%	1.21%	0.25%	2.10%	4.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	11.23%	70.35%	38.55%	36.14%	104.43%	71.07%	70.76%	34.52%	55.88%	35.59%
EBITDA Margin	18.63%	14.42%	15.69%	15.29%	18.02%	16.54%	18.27%	12.02%	17.51%	16.74%
Operating Margin	14.70%	7.91%	11.13%	10.59%	13.79%	12.25%	14.62%	6.96%	13.32%	11.94%
EBIT Margin	14.70%	7.91%	11.13%	10.59%	13.79%	12.25%	14.62%	6.96%	13.32%	11.94%
Profit (Net Income) Margin	-5.39%	0.83%	3.73%	3.39%	6.35%	4.41%	8.64%	0.18%	3.30%	0.90%
Tax Burden Percent	-62.80%	58.72%	85.29%	84.67%	88.61%	90.55%	115.63%	-300.00%	70.18%	41.79%
Interest Burden Percent	58.38%	17.90%	39.27%	37.76%	51.97%	39.71%	51.13%	-0.86%	35.24%	18.08%
Effective Tax Rate	162.80%	41.28%	14.71%	15.33%	11.39%	9.45%	-15.63%	0.00%	29.82%	58.21%
Return on Invested Capital (ROIC)	-4.68%	2.33%	4.64%	4.44%	5.99%	5.52%	8.49%	2.44%	4.66%	2.54%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.43%	1.16%	2.84%	2.71%	4.09%	3.77%	6.24%	1.13%	2.80%	1.58%
Return on Net Nonoperating Assets (RNNOA)	-2.59%	0.85%	2.01%	1.90%	2.80%	3.37%	5.37%	0.96%	2.31%	1.95%
Return on Equity (ROE)	-7.27%	3.18%	6.65%	6.33%	8.79%	8.89%	13.87%	3.40%	6.97%	4.48%
Cash Return on Invested Capital (CROIC)	-11.96%	-7.44%	-8.41%	-1.21%	0.06%	0.77%	-2.69%	-5.19%	-7.83%	-15.16%
Operating Return on Assets (OROA)	6.20%	3.30%	4.56%	4.35%	5.58%	5.00%	6.03%	2.81%	5.29%	4.79%
Return on Assets (ROA)	-2.27%	0.35%	1.53%	1.39%	2.57%	1.80%	3.56%	0.07%	1.31%	0.36%
Return on Common Equity (ROCE)	-3.92%	1.81%	3.81%	3.74%	5.27%	4.90%	7.73%	1.88%	3.86%	2.01%
Return on Equity Simple (ROE_SIMPLE)	0.00%	5.58%	6.61%	8.05%	0.00%	5.58%	4.35%	2.31%	0.00%	9.09%
Net Operating Profit after Tax (NOPAT)	-80	36	72	64	90	75	113	32	66	31
NOPAT Margin	-9.23%	4.64%	9.49%	8.97%	12.22%	11.10%	16.90%	4.88%	9.35%	4.99%
Net Nonoperating Expense Percent (NNEP)	-1.26%	1.17%	1.80%	1.72%	1.90%	1.75%	2.25%	1.31%	1.86%	0.96%
Return On Investment Capital (ROIC_SIMPLE)	-1.22%	-	-	-	1.55%	-	-	-	1.19%	-
Cost of Revenue to Revenue	88.77%	29.65%	61.45%	63.86%	-4.43%	28.93%	29.24%	65.48%	44.12%	64.41%
SG&A Expenses to Revenue	-14.17%	48.00%	17.41%	16.14%	78.15%	48.81%	49.09%	16.00%	30.96%	13.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-3.47%	62.45%	27.42%	25.55%	90.64%	58.82%	56.14%	27.56%	42.55%	23.65%
Earnings before Interest and Taxes (EBIT)	127	61	85	76	101	83	98	46	94	74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	161	111	120	110	133	112	122	80	124	104
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.50	2.16	1.55	1.92	2.04	1.85	2.82	2.21	1.25	1.79
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.86	1.37	1.05	1.35	1.48	1.36	2.14	1.66	0.99	0.86
Price to Earnings (P/E)	0.00	0.00	0.00	6,288.82	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.14	1.35	1.17	1.31	1.36	1.30	1.67	1.44	1.09	1.18
Enterprise Value to Revenue (EV/Rev)	2.38	2.85	2.55	2.74	2.85	2.68	3.45	3.00	2.34	2.56
Enterprise Value to EBITDA (EV/EBITDA)	14.80	17.99	15.59	16.11	17.52	16.65	21.37	18.98	12.91	13.20
Enterprise Value to EBIT (EV/EBIT)	21.28	26.32	21.41	21.43	23.83	22.71	29.40	26.88	17.21	17.09
Enterprise Value to NOPAT (EV/NOPAT)	250.40	31.25	24.46	22.21	23.78	23.44	32.18	38.96	21.81	21.13
Enterprise Value to Operating Cash Flow (EV/OCF)	24.73	33.84	25.39	29.48	26.60	30.55	56.16	50.99	37.40	36.49
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	2,420.75	173.84	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.93	0.90	0.87	0.85	0.83	0.81	0.78	0.79	0.80	1.32
Long-Term Debt to Equity	0.90	0.87	0.84	0.83	0.80	0.80	0.76	0.77	0.78	1.27
Financial Leverage	0.75	0.73	0.71	0.70	0.68	0.89	0.86	0.85	0.83	1.23
Leverage Ratio	2.11	2.08	2.04	2.05	2.04	2.31	2.27	2.29	2.29	2.83
Compound Leverage Factor	1.23	0.37	0.80	0.77	1.06	0.92	1.16	-0.02	0.81	0.51
Debt to Total Capital	48.11%	47.35%	46.40%	46.06%	45.22%	44.88%	43.70%	44.10%	44.40%	56.84%
Short-Term Debt to Total Capital	1.45%	1.44%	1.37%	1.24%	1.19%	1.03%	1.10%	1.07%	1.06%	2.06%
Long-Term Debt to Total Capital	46.66%	45.91%	45.03%	44.83%	44.02%	43.85%	42.60%	43.03%	43.34%	54.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	26.34%	24.51%	24.68%	22.37%	22.40%	21.83%	21.98%	22.55%	21.76%	22.45%
Common Equity to Total Capital	25.55%	28.14%	28.92%	31.56%	32.38%	33.29%	34.32%	33.36%	33.84%	20.71%
Debt to EBITDA	6.72	6.75	6.62	6.04	6.22	6.18	5.98	6.29	5.70	6.80
Net Debt to EBITDA	5.75	5.83	5.69	5.25	5.37	5.19	5.12	5.23	4.67	6.07
Long-Term Debt to EBITDA	6.52	6.54	6.42	5.87	6.06	6.04	5.83	6.14	5.56	6.55
Debt to NOPAT	113.71	11.73	10.38	8.32	8.44	8.69	9.01	12.91	9.63	10.88
Net Debt to NOPAT	97.35	10.12	8.92	7.23	7.29	7.30	7.71	10.73	7.89	9.72
Long-Term Debt to NOPAT	110.29	11.37	10.07	8.09	8.22	8.49	8.78	12.60	9.40	10.49
Altman Z-Score	0.77	1.00	0.85	1.01	1.09	1.03	1.43	1.14	0.83	0.63
Noncontrolling Interest Sharing Ratio	46.02%	43.19%	42.70%	40.91%	40.02%	44.86%	44.26%	44.65%	44.70%	55.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.79	1.80	1.83	1.71	1.71	1.75	1.77	1.83	1.87	1.18
Quick Ratio	1.36	1.33	1.34	1.30	1.32	1.39	1.37	1.47	1.50	0.92
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-843	-679	-727	-349	-236	-194	-315	-439	-605	-994
Operating Cash Flow to CapEx	525.47%	322.77%	307.81%	208.72%	316.16%	544.79%	676.62%	457.06%	73.47%	171.68%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.42	0.42	0.41	0.41	0.40	0.41	0.41	0.40	0.40	0.40
Accounts Receivable Turnover	5.79	5.94	5.94	5.90	5.76	6.13	6.18	6.03	5.73	5.99
Inventory Turnover	23.50	30.90	30.50	27.32	10.83	22.67	26.34	29.22	21.98	25.81
Fixed Asset Turnover	3.03	3.07	0.00	0.00	2.97	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	10.10	14.64	15.10	12.76	4.91	10.89	13.72	14.72	10.53	12.95
Days Sales Outstanding (DSO)	63.03	61.48	61.48	61.86	63.38	59.50	59.10	60.52	63.71	60.95
Days Inventory Outstanding (DIO)	15.53	11.81	11.97	13.36	33.70	16.10	13.86	12.49	16.61	14.14
Days Payable Outstanding (DPO)	36.13	24.93	24.18	28.59	74.35	33.51	26.61	24.79	34.66	28.18
Cash Conversion Cycle (CCC)	42.43	48.36	49.27	46.62	22.73	42.09	46.35	48.22	45.66	46.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,521	6,303	6,310	5,859	5,757	5,589	5,511	5,445	5,432	5,320
Invested Capital Turnover	0.51	0.50	0.49	0.49	0.49	0.50	0.50	0.50	0.50	0.51
Increase / (Decrease) in Invested Capital	764	715	799	414	326	269	428	471	672	1,025
Enterprise Value (EV)	7,422	8,505	7,381	7,665	7,816	7,284	9,183	7,827	5,939	6,251
Market Capitalization	2,691	4,098	3,024	3,773	4,047	3,700	5,690	4,344	2,506	2,104
Book Value per Share	$14.08	$14.92	$15.36	$15.62	$15.71	$15.85	$15.96	$15.57	$22.21	$13.04
Tangible Book Value per Share	($26.15)	($23.32)	($22.87)	($19.72)	($18.92)	($18.15)	($17.97)	($18.18)	($24.25)	($33.51)
Total Capital	7,006	6,740	6,751	6,233	6,137	6,021	5,880	5,882	5,905	5,664
Total Debt	3,370	3,192	3,132	2,871	2,775	2,702	2,570	2,594	2,622	3,220
Total Long-Term Debt	3,269	3,094	3,040	2,794	2,702	2,640	2,505	2,531	2,559	3,103
Net Debt	2,885	2,755	2,692	2,497	2,395	2,270	2,200	2,157	2,149	2,876
Capital Expenditures (CapEx)	21	20	27	20	20	19	7.70	16	9.80	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	327	336	340	265	249	201	239	211	208	76
Debt-free Net Working Capital (DFNWC)	596	558	553	450	445	437	416	457	490	231
Net Working Capital (NWC)	495	461	461	373	372	375	352	394	428	114
Net Nonoperating Expense (NNE)	-33	29	44	40	43	45	55	31	43	25
Net Nonoperating Obligations (NNO)	2,885	2,755	2,692	2,497	2,395	2,270	2,200	2,157	2,149	2,876
Total Depreciation and Amortization (D&A)	34	50	35	34	31	29	24	34	30	30
Debt-free, Cash-free Net Working Capital to Revenue	10.50%	11.26%	11.75%	9.47%	9.09%	7.40%	8.98%	8.09%	8.17%	3.12%
Debt-free Net Working Capital to Revenue	19.15%	18.69%	19.15%	16.09%	16.23%	16.09%	15.64%	17.50%	19.31%	9.45%
Net Working Capital to Revenue	15.89%	15.43%	15.95%	13.33%	13.56%	13.80%	13.21%	15.09%	16.84%	4.67%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.86)	($0.25)	($0.12)	($0.10)	$0.00	($0.04)	$0.15	($0.20)	($0.24)	($0.28)
Adjusted Weighted Average Basic Shares Outstanding	126.12M	126.17M	126.13M	125.97M	125.61M	125.75M	125.72M	125.21M	91.95M	88.91M
Adjusted Diluted Earnings per Share	($0.86)	($0.25)	($0.12)	($0.10)	$0.00	($0.04)	$0.15	($0.20)	($0.24)	($0.28)
Adjusted Weighted Average Diluted Shares Outstanding	126.12M	126.17M	126.13M	125.97M	125.61M	125.75M	127.37M	125.21M	91.95M	88.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	127.61M	127.11M	127.12M	127.09M	126.61M	126.49M	126.50M	126.48M	126.03M	89.95M
Normalized Net Operating Profit after Tax (NOPAT)	106	52	84	76	110	89	77	43	74	59
Normalized NOPAT Margin	12.29%	6.75%	10.98%	10.57%	14.94%	13.14%	11.52%	6.42%	10.50%	9.50%
Pre Tax Income Margin	8.58%	1.41%	4.37%	4.00%	7.17%	4.87%	7.47%	-0.06%	4.70%	2.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1,287.20%	136.48%	109.45%	88.51%	101.92%	130.56%	167.77%	325.33%	172.64%	165.38%
Augmented Payout Ratio	1,287.20%	136.48%	109.45%	88.51%	101.92%	130.56%	167.77%	325.33%	201.61%	165.38%

Frequently Asked Questions About Surgery Partners' Financials

When does Surgery Partners's fiscal year end?

According to the most recent income statement we have on file, Surgery Partners' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Surgery Partners' net income changed over the last 8 years?

Surgery Partners' net income appears to be on an upward trend, with a most recent value of $12.50 million in 2024, falling from $72.85 million in 2015. The previous period was $135.30 million in 2023. View Surgery Partners' forecast to see where analysts expect Surgery Partners to go next.

What is Surgery Partners's operating income?

Surgery Partners's total operating income in 2024 was $348.80 million, based on the following breakdown:

Total Gross Profit: $1.19 billion
Total Operating Expenses: $843.40 million

How has Surgery Partners revenue changed over the last 8 years?

Over the last 8 years, Surgery Partners' total revenue changed from $959.89 million in 2015 to $3.11 billion in 2024, a change of 224.4%.

How much debt does Surgery Partners have?

Surgery Partners' total liabilities were at $4.25 billion at the end of 2024, a 21.1% increase from 2023, and a 162.1% increase since 2015.

How much cash does Surgery Partners have?

In the past 9 years, Surgery Partners' cash and equivalents has ranged from $57.93 million in 2015 to $389.90 million in 2021, and is currently $269.50 million as of their latest financial filing in 2024.

How has Surgery Partners' book value per share changed over the last 8 years?

Over the last 8 years, Surgery Partners' book value per share changed from -0.08 in 2015 to 14.08 in 2024, a change of -16,941.5%.

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This page (NASDAQ:SGRY) was last updated on 5/30/2025 by MarketBeat.com Staff

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Surgery Partners (SGRY) Financials

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Surgery Partners (SGRY) Financials

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