Surgery Partners (SGRY) Financials

$23.47 +0.39 (+1.69%)

Closing price 04:00 PM Eastern

Extended Trading

$23.48 +0.01 (+0.02%)

As of 04:05 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	2015	2016	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	1.43	9.45	-238	-111	-156	-81	-55	-12	-168
Consolidated Net Income / (Loss)	73	85	-96	45	1.30	71	87	135	13
Net Income / (Loss) Continuing Operations	73	85	-96	45	1.30	71	87	135	13
Total Pre-Tax Income	-76	92	-69	55	-19	81	110	135	147
Total Operating Income	145	196	78	236	183	302	345	328	349
Total Gross Profit	291	324	497	774	771	944	1,083	1,950	1,192
Total Revenue	960	1,145	1,772	1,831	1,860	2,225	2,539	2,743	3,114
Operating Revenue	960	1,145	1,772	1,831	1,860	2,225	2,539	2,743	3,114
Total Cost of Revenue	669	821	1,275	1,058	1,089	1,281	1,456	794	1,922
Operating Cost of Revenue	669	821	1,275	1,058	1,089	1,281	1,456	794	1,922
Total Operating Expenses	146	128	419	538	588	642	738	1,622	843
Selling, General & Admin Expense	56	60	94	353	401	466	528	1,338	496
Depreciation Expense	35	40	67	77	95	99	115	118	153
Other Operating Expenses / (Income)	40	34	110	83	36	53	96	101	116
Restructuring Charge	18	8.74	32	19	23	40	48	62	100
Other Special Charges / (Income)	-2.62	-14	42	-1.20	-0.50	-16	-48	3.10	-21
Total Other Income / (Expense), net	-221	-104	-147	-181	-202	-221	-235	-193	-202
Interest & Investment Income	-101	-101	-147	-179	-202	-221	-235	-193	-202
Income Tax Expense	-149	7.10	26	9.50	-20	11	23	-0.30	135
Net Income / (Loss) Attributable to Noncontrolling Interest	71	76	143	156	157	142	142	147	181
Basic Earnings per Share	$0.04	$0.20	($4.96)	($2.29)	($3.19)	($1.12)	($0.59)	($0.09)	($1.33)
Weighted Average Basic Shares Outstanding	36.07M	48.02M	48.03M	48.28M	48.78M	72.43M	91.95M	125.61M	126.12M
Diluted Earnings per Share	$0.04	$0.20	($4.96)	($2.29)	($3.19)	($1.12)	($0.59)	($0.09)	($1.33)
Weighted Average Diluted Shares Outstanding	37.46M	48.19M	48.03M	48.28M	48.78M	72.43M	91.95M	125.61M	126.12M
Weighted Average Basic & Diluted Shares Outstanding	35.70M	48.63M	48.03M	48.28M	48.78M	89.36M	126.03M	126.61M	127.61M

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

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

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

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

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

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

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

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

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

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

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. See Surgery Partners' forecast for analyst expectations on what’s next for the company.

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 5/5/2025 by MarketBeat.com Staff

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Surgery Partners (SGRY) Financials

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Surgery Partners (SGRY) Financials

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