What is Surgery Partners' operating income?

Surgery Partners' total operating income in 2025 was $389.50 million, based on the following breakdown: Total Gross Profit: $2.34 billion Total Operating Expenses: $1.95 billion

Surgery Partners (SGRY) Financials

$14.05 +0.10 (+0.72%)

Closing price 04:00 PM Eastern

Extended Trading

$14.04 -0.01 (-0.04%)

As of 04:23 PM Eastern

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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	2014	2015	2016	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-66	1.43	9.45	-238	-111	-156	-81	-55	-12	-168	-78
Consolidated Net Income / (Loss)	-27	73	85	-96	45	1.30	71	87	135	13	99
Net Income / (Loss) Continuing Operations	-27	73	85	-96	45	1.30	71	87	135	13	99
Total Pre-Tax Income	-11	-76	92	-69	55	-19	81	110	135	147	117
Total Operating Income	51	145	196	78	236	183	302	345	328	349	390
Total Gross Profit	149	291	324	497	774	771	944	1,083	1,029	1,192	2,338
Total Revenue	403	960	1,145	1,772	1,831	1,860	2,225	2,539	2,743	3,114	3,309
Operating Revenue	403	960	1,145	1,772	1,831	1,860	2,225	2,539	2,743	3,114	3,309
Total Cost of Revenue	254	669	821	1,275	1,058	1,089	1,281	1,456	1,714	1,922	971
Operating Cost of Revenue	254	669	821	1,275	1,058	1,089	1,281	1,456	1,714	1,922	971
Total Operating Expenses	98	146	128	419	538	588	642	738	701	843	1,948
Selling, General & Admin Expense	31	56	60	94	353	401	466	528	418	496	1,603
Depreciation Expense	15	35	40	67	77	95	99	115	118	153	176
Other Operating Expenses / (Income)	28	40	34	110	83	36	53	96	101	116	97
Restructuring Charge	22	18	8.74	32	19	23	40	48	62	100	74
Other Special Charges / (Income)	1.80	-2.62	-14	42	-1.20	-0.50	-16	-48	3.10	-21	-1.40
Total Other Income / (Expense), net	-62	-221	-104	-147	-181	-202	-221	-235	-193	-202	-273
Interest & Investment Income	-62	-101	-101	-147	-179	-202	-221	-235	-193	-202	-273
Income Tax Expense	16	-149	7.10	26	9.50	-20	11	23	-0.30	135	18
Net Income / (Loss) Attributable to Noncontrolling Interest	39	71	76	143	156	157	142	142	147	181	177
Basic Earnings per Share	($2.04)	$0.04	$0.20	($4.96)	($2.29)	($3.19)	($1.12)	($0.59)	($0.09)	($1.33)	($0.61)
Weighted Average Basic Shares Outstanding	32.30M	36.07M	48.02M	48.03M	48.28M	48.78M	72.43M	91.95M	125.61M	126.12M	127.21M
Diluted Earnings per Share	($2.04)	$0.04	$0.20	($4.96)	($2.29)	($3.19)	($1.12)	($0.59)	($0.09)	($1.33)	($0.61)
Weighted Average Diluted Shares Outstanding	32.30M	37.46M	48.19M	48.03M	48.28M	48.78M	72.43M	91.95M	125.61M	126.12M	127.21M
Weighted Average Basic & Diluted Shares Outstanding	-	35.70M	48.63M	48.03M	48.28M	48.78M	89.36M	126.03M	126.61M	127.61M	129.42M

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 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.00	-12	-16	-32	-109	-38	-2.50	-23	-15	-36	-15
Consolidated Net Income / (Loss)	47	24	28	6.40	-47	-0.30	45	25	29	-2.10	30
Net Income / (Loss) Continuing Operations	47	24	28	6.40	-47	-0.30	45	25	29	-2.10	30
Total Pre-Tax Income	53	29	33	11	74	-0.30	44	31	43	-3.30	32
Total Operating Income	101	76	85	61	127	62	112	106	110	66	102
Total Gross Profit	768	259	294	292	97	278	376	579	1,061	564	596
Total Revenue	735	717	762	770	864	776	826	822	885	811	849
Operating Revenue	735	717	762	770	864	776	826	822	885	811	849
Total Cost of Revenue	-33	458	468	478	767	498	450	243	-176	247	253
Operating Cost of Revenue	-33	458	468	478	767	498	450	243	-176	247	253
Total Operating Expenses	667	183	209	232	-30	216	264	473	951	498	494
Selling, General & Admin Expense	575	116	133	120	-123	131	194	384	850	420	418
Depreciation Expense	31	34	35	50	34	36	40	40	60	39	39
Other Operating Expenses / (Income)	38	20	28	33	34	22	14	33	28	23	20
Restructuring Charge	24	17	19	29	34	25	18	13	19	16	18
Other Special Charges / (Income)	-1.80	-3.80	-6.00	-1.70	-9.30	2.20	-2.10	3.40	-4.90	0.80	-1.90
Total Other Income / (Expense), net	-49	-47	-52	-50	-53	-62	-68	-75	-68	-69	-70
Interest & Investment Income	-49	-47	-52	-50	-53	-62	-68	-75	-68	-69	-70
Income Tax Expense	6.00	4.40	4.90	4.50	121	0.00	-1.10	5.50	14	-1.20	2.60
Net Income / (Loss) Attributable to Noncontrolling Interest	48	37	44	38	62	37	47	48	44	34	45
Basic Earnings per Share	-	($0.10)	($0.12)	($0.25)	($0.86)	($0.30)	($0.02)	($0.18)	($0.11)	($0.28)	($0.12)
Weighted Average Basic Shares Outstanding	125.61M	125.97M	126.13M	126.17M	126.12M	126.60M	126.98M	127.21M	127.21M	128.37M	128.83M
Diluted Earnings per Share	-	($0.10)	($0.12)	($0.25)	($0.86)	($0.30)	($0.02)	($0.18)	($0.11)	($0.28)	($0.12)
Weighted Average Diluted Shares Outstanding	125.61M	125.97M	126.13M	126.17M	126.12M	126.60M	126.98M	127.21M	127.21M	128.37M	128.83M
Weighted Average Basic & Diluted Shares Outstanding	126.61M	127.09M	127.12M	127.11M	127.61M	128.16M	128.21M	129.34M	129.42M	130.79M	130.92M

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	2014	2015	2016	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	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	12/31/2025
Net Change in Cash & Equivalents	62	-17	12	9.40	-92	225	72	-107	-87	74	-30
Net Cash From Operating Activities	22	84	125	145	130	247	87	159	294	300	274
Net Cash From Continuing Operating Activities	22	84	125	145	130	247	87	159	294	300	274
Net Income / (Loss) Continuing Operations	-27	73	85	-96	45	1.30	71	87	135	13	99
Consolidated Net Income / (Loss)	-27	73	85	-96	45	1.30	71	87	135	13	99
Depreciation Expense	15	35	40	67	77	95	99	115	118	153	176
Non-Cash Adjustments To Reconcile Net Income	36	165	37	114	68	93	-16	96	106	122	93
Changes in Operating Assets and Liabilities, net	-5.65	-194	-37	59	-60	58	-67	-139	-65	13	-94
Net Cash From Investing Activities	-271	-135	-185	-129	-85	-88	-332	-308	-226	-489	-247
Net Cash From Continuing Investing Activities	-271	-135	-185	-129	-85	-88	-332	-308	-226	-489	-247
Purchase of Property, Plant & Equipment	-7.74	-33	-39	-40	-74	-43	-58	-81	-89	-90	-79
Acquisitions	-263	-113	-146	-107	-14	-105	-286	-242	-130	-381	-175
Sale of Property, Plant & Equipment	-	-	-	19	18	59	6.00	13	26	2.60	47
Divestitures	0.00	11	0.77	-	-	0.00	5.40	13	1.40	4.60	1.50
Other Investing Activities, net	-	-	0.00	-1.50	-0.20	0.60	0.30	-12	-34	-25	-41
Net Cash From Financing Activities	311	33	71	-6.30	-136	67	316	42	-155	262	-57
Net Cash From Continuing Financing Activities	311	33	71	-6.30	-136	67	316	42	-155	262	-57
Repayment of Debt	-1,035	-336	-493	-168	-518	-226	-373	-883	-844	-1,307	-1,035
Payment of Dividends	-128	-82	-86	-119	-124	-137	-165	-150	-138	-161	-225
Issuance of Debt	1,477	196	651	283	507	429	299	218	827	1,730	1,203
Cash Interest Paid	50	97	79	145	180	204	194	219	170	200	257
Cash Income Taxes Paid	0.68	1.09	0.66	2.20	1.60	1.70	1.50	1.80	1.40	1.60	1.20

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 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-40	-11	28	8.30	48	-40	21	-47	37	-58	34
Net Cash From Operating Activities	63	41	83	65	111	6.00	81	84	103	12	59
Net Cash From Continuing Operating Activities	63	41	83	65	111	6.00	81	84	103	12	59
Net Income / (Loss) Continuing Operations	47	24	28	6.40	-47	-0.30	45	25	29	-2.10	30
Consolidated Net Income / (Loss)	47	24	28	6.40	-47	-0.30	45	25	29	-2.10	30
Depreciation Expense	31	34	35	50	34	36	40	40	60	39	39
Non-Cash Adjustments To Reconcile Net Income	41	18	36	34	34	27	14	32	20	26	16
Changes in Operating Assets and Liabilities, net	-57	-35	-16	-26	90	-57	-18	-13	-5.00	-51	-26
Net Cash From Investing Activities	-58	-83	-244	-50	-112	-76	2.10	-46	-126	-13	-20
Net Cash From Continuing Investing Activities	-58	-83	-244	-50	-112	-76	2.10	-46	-126	-13	-20
Purchase of Property, Plant & Equipment	-20	-21	-27	-20	-22	-23	-23	-20	-13	-16	-22
Acquisitions	-31	-57	-210	-27	-88	-48	-4.00	-14	-109	-4.20	0.10
Sale of Property, Plant & Equipment	-	1.50	-	-	1.10	4.80	38	-	3.60	0.00	0.30
Other Investing Activities, net	-7.40	-7.00	-12	-2.80	-3.50	-11	-8.60	-12	-9.00	5.90	1.60
Net Cash From Financing Activities	-45	32	190	-7.30	48	30	-63	-84	59	-56	-5.10
Net Cash From Continuing Financing Activities	-45	32	190	-7.30	48	30	-63	-84	59	-56	-5.10
Repayment of Debt	-724	-122	-873	-139	-174	-123	-179	-159	-574	-194	-117
Payment of Dividends	-28	-39	-41	-37	-44	-61	-53	-53	-59	-58	-43
Issuance of Debt	707	193	1,103	168	266	214	169	128	693	195	155

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	2025
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	12/31/2025
Total Assets	2,104	2,305	4,623	4,676	5,019	5,413	6,118	6,682	6,877	7,890	8,120
Total Current Assets	311	362	563	588	526	802	946	921	895	1,119	1,151
Cash & Equivalents	58	70	175	184	93	318	390	283	196	270	240
Accounts Receivable	178	221	288	308	327	382	430	456	496	579	602
Inventories, net	26	29	45	43	46	56	61	71	75	88	97
Prepaid Expenses	35	43	17	16	18	18	26	31	31	36	41
Other Current Assets	15	-	39	37	42	27	39	79	97	146	171
Plant, Property, & Equipment, net	185	0.00	0.00	426	523	0.00	0.00	877	969	1,088	1,153
Total Noncurrent Assets	1,609	1,943	4,060	3,662	3,970	4,612	5,172	4,885	5,013	5,682	5,816
Long-Term Investments	34	35	74	79	93	90	89	190	184	215	234
Goodwill	1,408	1,555	3,347	3,383	3,402	3,468	3,912	4,137	4,326	5,068	5,236
Other Noncurrent Operating Assets	19	16	49	37	329	882	1,013	423	359	353	346
Total Liabilities & Shareholders' Equity	2,104	2,305	4,623	4,676	5,019	5,413	6,118	6,682	6,877	7,890	8,120
Total Liabilities	1,623	1,800	2,656	2,892	3,320	3,790	3,818	3,399	3,515	4,255	4,593
Total Current Liabilities	181	187	303	349	398	557	537	493	523	624	616
Short-Term Debt	27	28	59	56	56	64	60	63	73	101	99
Accounts Payable	45	50	85	83	97	100	125	152	172	209	209
Current Employee Benefit Liabilities	26	29	50	55	54	65	77	69	74	60	65
Other Current Liabilities	82	80	110	155	191	217	210	210	204	254	243
Total Noncurrent Liabilities	1,442	1,613	2,353	2,542	2,921	3,233	3,281	2,906	2,992	3,630	3,977
Long-Term Debt	1,228	1,414	2,131	2,271	2,525	2,792	2,878	2,559	2,702	3,269	3,603
Noncurrent Deferred & Payable Income Tax Liabilities	120	122	-	-	-	-	-	-	0.00	39	53
Other Noncurrent Operating Liabilities	94	76	222	271	397	441	403	347	290	322	321
Redeemable Noncontrolling Interest	183	181	630	686	716	741	330	342	327	439	396
Total Equity & Noncontrolling Interests	298	325	1,337	1,099	983	882	1,970	2,941	3,035	3,196	3,131
Total Preferred & Common Equity	-4.03	9.68	655	405	297	116	1,089	1,998	1,987	1,790	1,713
Preferred Stock	0.00	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	1,713
Common Stock	317	321	696	674	663	608	1,623	2,479	2,499	2,522	2,542
Retained Earnings	-321	-311	-41	-247	-316	-432	-503	-557	-569	-737	-815
Accumulated Other Comprehensive Income / (Loss)	-	-	0.00	-22	-51	-61	-32	76	58	4.80	-14
Noncontrolling Interest	302	315	682	694	687	767	881	943	1,047	1,407	1,418

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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	6,643	6,621	6,780	6,976	7,489	7,534	7,949	7,955	7,947	8,042	8,050
Total Current Assets	869	810	876	896	1,013	1,036	1,075	1,105	1,102	1,083	1,126
Cash & Equivalents	246	177	236	185	214	222	229	250	203	182	217
Accounts Receivable	453	450	463	494	523	543	571	563	579	603	617
Inventories, net	72	70	69	77	81	82	88	87	92	101	99
Prepaid Expenses	29	39	35	32	45	45	36	46	45	39	48
Other Current Assets	69	73	73	108	150	144	150	159	183	158	146
Plant, Property, & Equipment, net	0.00	0.00	940	983	1,006	1,005	1,151	1,180	1,164	1,135	1,123
Total Noncurrent Assets	5,774	5,810	4,964	5,097	5,470	5,494	5,724	5,670	5,680	5,825	5,801
Long-Term Investments	192	192	196	189	227	215	219	220	229	225	227
Goodwill	4,253	4,291	4,301	4,451	4,859	4,862	5,171	5,140	5,135	5,245	5,242
Other Noncurrent Operating Assets	1,237	1,221	362	370	303	339	334	310	316	354	332
Total Liabilities & Shareholders' Equity	6,643	6,621	6,780	6,976	7,489	7,534	7,949	7,955	7,947	8,042	8,050
Total Liabilities	3,355	3,310	3,461	3,614	3,870	3,986	4,363	4,376	4,394	4,561	4,581
Total Current Liabilities	475	459	501	523	552	575	569	573	586	582	579
Short-Term Debt	63	65	62	77	92	97	104	110	103	100	103
Accounts Payable	144	132	149	174	174	171	165	175	175	169	175
Current Employee Benefit Liabilities	68	64	82	69	63	65	67	59	70	77	73
Other Current Liabilities	200	198	208	204	222	242	234	229	239	236	227
Total Noncurrent Liabilities	2,880	2,851	2,960	3,091	3,318	3,411	3,793	3,803	3,808	3,979	4,003
Long-Term Debt	2,531	2,505	2,640	2,794	3,040	3,094	3,447	3,465	3,461	3,614	3,648
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	39	37	43	52	54
Other Noncurrent Operating Liabilities	349	346	320	297	279	317	308	300	304	314	300
Redeemable Noncontrolling Interest	346	328	332	324	442	436	431	422	411	383	367
Total Equity & Noncontrolling Interests	2,943	2,983	2,987	3,038	3,176	3,112	3,156	3,157	3,142	3,098	3,102
Total Preferred & Common Equity	1,962	2,018	2,005	1,967	1,952	1,897	1,740	1,748	1,730	1,688	1,671
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,962	2,018	2,005	1,967	1,952	1,897	1,740	1,748	1,730	1,688	1,671
Common Stock	2,479	2,503	2,496	2,497	2,512	2,515	2,527	2,539	2,544	2,550	2,546
Retained Earnings	-582	-563	-568	-582	-597	-629	-775	-778	-800	-851	-866
Accumulated Other Comprehensive Income / (Loss)	65	79	77	52	37	11	-12	-13	-14	-11	-8.90
Noncontrolling Interest	981	965	982	1,071	1,224	1,215	1,416	1,408	1,413	1,410	1,431

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

Metric	2014	2015	2016	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	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	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	129,341,779.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	129,341,779.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.60
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	36	101	181	54	195	128	263	272	329	30	330
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.89%	5.66%	0.45%	4.82%
Earnings before Interest and Taxes (EBIT)	51	25	193	78	234	183	302	345	328	349	390
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	70	65	232	145	310	278	401	460	446	501	566
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,434	-74	-17	0.00	-51	150	-425	-399	3.23	-734	95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,469	1,644	1,842	3,849	4,094	4,072	4,760	5,432	5,757	6,521	6,755
Increase / (Decrease) in Invested Capital	1,469	175	198	0.00	246	-22	688	672	326	764	235
Book Value per Share	($8.18)	($0.08)	$0.20	$8.28	$6.00	$2.29	$13.21	$22.21	$15.71	$14.08	$13.24
Tangible Book Value per Share	($50.09)	($30.43)	($32.86)	($62.03)	($63.69)	($67.32)	($34.77)	($24.25)	($18.92)	($26.15)	($27.24)
Total Capital	1,583	1,737	1,947	4,111	4,280	4,480	5,239	5,905	6,137	7,006	7,229
Total Debt	1,361	1,255	1,442	2,327	2,581	2,857	2,939	2,622	2,775	3,370	3,702
Total Long-Term Debt	1,339	1,228	1,414	2,271	2,525	2,792	2,878	2,559	2,702	3,269	3,603
Net Debt	1,253	1,163	1,337	2,064	2,395	2,449	2,460	2,149	2,395	2,885	3,228
Capital Expenditures (CapEx)	7.74	33	39	21	56	-16	52	68	63	88	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	74	99	133	110	91	-8.80	80	208	249	327	395
Debt-free Net Working Capital (DFNWC)	149	157	203	295	183	309	470	490	445	596	635
Net Working Capital (NWC)	127	130	175	239	127	245	409	428	372	495	535
Net Nonoperating Expense (NNE)	63	28	96	150	150	127	192	185	193	17	231
Net Nonoperating Obligations (NNO)	1,247	1,163	1,337	2,064	2,395	2,449	2,460	2,149	2,395	2,885	3,228
Total Depreciation and Amortization (D&A)	19	40	40	67	77	95	99	115	118	153	176
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.04	$0.20	($4.96)	($2.29)	($3.19)	($1.12)	($0.59)	($0.09)	($1.33)	($0.61)
Adjusted Weighted Average Basic Shares Outstanding	0.00	36.07M	48.02M	48.03M	49.29M	59.86M	72.43M	91.95M	125.61M	126.12M	127.21M
Adjusted Diluted Earnings per Share	$0.00	$0.04	$0.20	($4.96)	($2.29)	($3.19)	($1.12)	($0.59)	($0.09)	($1.33)	($0.61)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	37.46M	48.19M	48.03M	49.29M	59.86M	72.43M	91.95M	125.61M	126.12M	127.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($2.29)	($3.19)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	48.16M	48.63M	48.80M	48.28M	48.78M	89.36M	126.03M	126.61M	127.61M	129.42M
Normalized Net Operating Profit after Tax (NOPAT)	52	112	176	158	216	167	284	272	275	300	391
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	129,341,779.00	129,419,836.00	130,788,162.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	129,341,779.00	129,419,836.00	130,788,162.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-0.12	-0.28	-0.11
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.00%	7.69%	14.16%	14.29%	17.54%	8.17%	8.41%	6.63%	-	4.50%	2.75%
EBITDA Growth	7.03%	36.95%	-1.97%	-0.36%	21.51%	-10.48%	27.09%	30.69%	-	6.21%	-6.97%
EBIT Growth	7.64%	63.79%	-13.11%	-26.27%	25.35%	-18.55%	31.72%	73.56%	-	6.30%	-8.59%
NOPAT Growth	35.92%	98.12%	-35.92%	-52.19%	-188.83%	-32.66%	58.33%	142.81%	-	6.30%	-18.01%
Net Income Growth	100.43%	1,925.00%	-50.78%	-78.45%	-199.79%	-101.23%	58.10%	295.31%	-	-600.00%	-33.85%
EPS Growth	0.00%	50.00%	-180.00%	-525.00%	0.00%	-200.00%	83.33%	28.00%	-	6.67%	-500.00%
Operating Cash Flow Growth	769.44%	-45.37%	58.93%	-37.67%	77.96%	-85.26%	-1.81%	28.22%	-	95.00%	-27.06%
Free Cash Flow Firm Growth	61.08%	20.35%	-130.69%	-249.67%	-257.92%	-125.38%	64.31%	56.72%	-	93.39%	100.65%
Invested Capital Growth	5.99%	7.60%	14.50%	12.78%	13.26%	14.18%	5.93%	6.04%	-	1.47%	1.38%
Revenue Q/Q Growth	9.09%	-2.45%	6.23%	1.09%	12.20%	-10.23%	6.47%	-0.57%	-	-8.37%	4.69%
EBITDA Q/Q Growth	18.83%	-17.21%	9.02%	-7.11%	44.91%	-39.01%	54.79%	-4.47%	-	-38.68%	35.57%
EBIT Q/Q Growth	22.76%	-25.05%	11.58%	-28.18%	108.70%	-51.30%	80.45%	-5.37%	-	-40.29%	55.17%
NOPAT Q/Q Growth	20.14%	-28.39%	12.39%	-50.56%	-323.23%	154.28%	164.26%	-24.17%	-	-38.60%	103.82%
Net Income Q/Q Growth	57.24%	-47.97%	16.87%	-77.46%	-828.13%	99.36%	15,066.67%	-43.65%	-	-107.24%	1,514.29%
EPS Q/Q Growth	0.00%	0.00%	-20.00%	-108.33%	-244.00%	65.12%	93.33%	-800.00%	-	-154.55%	57.14%
Operating Cash Flow Q/Q Growth	-40.15%	-34.98%	103.44%	-21.26%	70.86%	-94.61%	1,255.00%	2.83%	-	-88.68%	406.84%
Free Cash Flow Firm Q/Q Growth	-21.40%	-48.25%	-108.04%	6.61%	-24.26%	6.65%	67.06%	-13.25%	-	67.37%	103.23%
Invested Capital Q/Q Growth	3.01%	1.77%	7.70%	-0.11%	3.45%	2.59%	-0.08%	0.00%	-	0.48%	-0.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	104.43%	36.14%	38.55%	70.35%	11.23%	41.44%	45.51%	70.44%	-	69.49%	70.18%
EBITDA Margin	18.02%	15.29%	15.69%	14.42%	18.63%	12.65%	18.40%	17.68%	-	12.86%	16.66%
Operating Margin	13.79%	10.59%	11.13%	7.91%	14.70%	7.98%	13.52%	12.87%	-	8.11%	12.03%
EBIT Margin	13.79%	10.59%	11.13%	7.91%	14.70%	7.98%	13.52%	12.87%	-	8.11%	12.03%
Profit (Net Income) Margin	6.35%	3.39%	3.73%	0.83%	-5.39%	-0.04%	5.43%	3.08%	-	-0.26%	3.50%
Tax Burden Percent	88.61%	84.67%	85.29%	58.72%	-62.80%	100.00%	102.51%	82.14%	-	63.64%	91.95%
Interest Burden Percent	51.97%	37.76%	39.27%	17.90%	58.38%	-0.48%	39.21%	29.14%	-	-5.02%	31.64%
Effective Tax Rate	11.39%	15.33%	14.71%	41.28%	162.80%	0.00%	-2.51%	17.86%	-	0.00%	8.05%
Return on Invested Capital (ROIC)	5.99%	4.44%	4.64%	2.33%	-4.68%	2.82%	6.91%	5.35%	-	2.82%	5.53%
ROIC Less NNEP Spread (ROIC-NNEP)	4.09%	2.71%	2.84%	1.16%	-3.43%	1.27%	4.50%	3.26%	-	1.32%	3.53%
Return on Net Nonoperating Assets (RNNOA)	2.80%	1.90%	2.01%	0.85%	-2.59%	1.02%	3.63%	2.70%	-	1.19%	3.21%
Return on Equity (ROE)	8.79%	6.33%	6.65%	3.18%	-7.27%	3.84%	10.53%	8.05%	-	4.01%	8.74%
Cash Return on Invested Capital (CROIC)	0.06%	-1.21%	-8.41%	-7.44%	-11.96%	-13.79%	-5.56%	-4.88%	-	3.52%	3.19%
Operating Return on Assets (OROA)	5.58%	4.35%	4.56%	3.30%	6.20%	3.39%	5.67%	5.47%	-	3.39%	5.06%
Return on Assets (ROA)	2.57%	1.39%	1.53%	0.35%	-2.27%	-0.02%	2.28%	1.31%	-	-0.11%	1.47%
Return on Common Equity (ROCE)	5.27%	3.74%	3.81%	1.81%	-3.92%	2.05%	5.42%	4.11%	-	1.95%	4.24%
Return on Equity Simple (ROE_SIMPLE)	0.00%	8.05%	6.61%	5.58%	0.00%	-0.70%	0.00%	0.00%	-	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	90	64	72	36	-80	43	115	87	75	46	94
NOPAT Margin	12.22%	8.97%	9.49%	4.64%	-9.23%	5.58%	13.86%	10.57%	-	5.68%	11.06%
Net Nonoperating Expense Percent (NNEP)	1.90%	1.72%	1.80%	1.17%	-1.26%	1.56%	2.40%	2.09%	-	1.50%	2.00%
Return On Investment Capital (ROIC_SIMPLE)	1.55%	-	-	-	-1.22%	0.65%	1.70%	1.29%	1.10%	0.68%	1.37%
Cost of Revenue to Revenue	-4.43%	63.86%	61.45%	29.65%	88.77%	58.56%	54.49%	29.56%	-	30.51%	29.82%
SG&A Expenses to Revenue	78.15%	16.14%	17.41%	48.00%	-14.17%	22.54%	23.43%	46.78%	-	51.75%	49.20%
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	90.64%	25.55%	27.42%	62.45%	-3.47%	33.47%	31.99%	57.58%	-	61.38%	58.16%
Earnings before Interest and Taxes (EBIT)	101	76	85	61	127	62	112	106	110	66	102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	133	110	120	111	161	98	152	145	170	104	141
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.04	1.92	1.55	2.16	1.50	1.74	1.63	1.60	-	0.91	1.32
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)	1.48	1.35	1.05	1.37	0.86	0.96	0.88	0.84	-	0.46	0.65
Price to Earnings (P/E)	0.00	6,288.82	0.00	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%	0.00%
Earnings Yield	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.36	1.31	1.17	1.35	1.14	1.19	1.16	1.16	-	0.98	1.08
Enterprise Value to Revenue (EV/Rev)	2.85	2.74	2.55	2.85	2.38	2.52	2.40	2.35	-	1.99	2.17
Enterprise Value to EBITDA (EV/EBITDA)	17.52	16.11	15.59	17.99	14.80	16.29	14.90	13.89	-	11.62	13.02
Enterprise Value to EBIT (EV/EBIT)	23.83	21.43	21.41	26.32	21.28	23.84	21.53	19.02	-	16.88	19.03
Enterprise Value to NOPAT (EV/NOPAT)	23.78	22.21	24.46	31.25	250.40	0.00	629.20	121.21	-	19.81	23.79
Enterprise Value to Operating Cash Flow (EV/OCF)	26.60	29.48	25.39	33.84	24.73	30.07	29.50	27.38	-	23.72	28.30
Enterprise Value to Free Cash Flow (EV/FCFF)	2,420.75	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	27.99	34.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	0.85	0.87	0.90	0.93	0.99	1.00	1.00	-	1.07	1.08
Long-Term Debt to Equity	0.80	0.83	0.84	0.87	0.90	0.96	0.97	0.97	-	1.04	1.05
Financial Leverage	0.68	0.70	0.71	0.73	0.75	0.81	0.81	0.83	-	0.91	0.91
Leverage Ratio	2.04	2.05	2.04	2.08	2.11	2.15	2.15	2.18	-	2.26	2.27
Compound Leverage Factor	1.06	0.77	0.80	0.37	1.23	-0.01	0.84	0.64	-	-0.11	0.72
Debt to Total Capital	45.22%	46.06%	46.40%	47.35%	48.11%	49.75%	49.97%	50.07%	-	51.62%	51.96%
Short-Term Debt to Total Capital	1.19%	1.24%	1.37%	1.44%	1.45%	1.46%	1.54%	1.45%	-	1.40%	1.43%
Long-Term Debt to Total Capital	44.02%	44.83%	45.03%	45.91%	46.66%	48.29%	48.44%	48.63%	-	50.22%	50.53%
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	22.40%	22.37%	24.68%	24.51%	26.34%	25.87%	25.59%	25.62%	-	24.92%	24.90%
Common Equity to Total Capital	32.38%	31.56%	28.92%	28.14%	25.55%	24.38%	24.44%	24.30%	-	23.46%	23.14%
Debt to EBITDA	6.22	6.04	6.62	6.75	6.72	7.25	6.85	6.40	-	6.50	6.69
Net Debt to EBITDA	5.37	5.25	5.69	5.83	5.75	6.33	5.94	5.63	-	5.78	5.90
Long-Term Debt to EBITDA	6.06	5.87	6.42	6.54	6.52	7.04	6.63	6.22	-	6.32	6.50
Debt to NOPAT	8.44	8.32	10.38	11.73	113.71	-103.55	288.98	55.89	-	11.07	12.22
Net Debt to NOPAT	7.29	7.23	8.92	10.12	97.35	-90.49	250.96	49.10	-	9.86	10.78
Long-Term Debt to NOPAT	8.22	8.09	10.07	11.37	110.29	-100.52	280.08	54.27	-	10.77	11.89
Altman Z-Score	1.09	1.01	0.85	1.00	0.77	0.78	0.79	0.77	-	0.57	0.68
Noncontrolling Interest Sharing Ratio	40.02%	40.91%	42.70%	43.19%	46.02%	46.64%	48.58%	48.94%	-	51.49%	51.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.71	1.71	1.83	1.80	1.79	1.89	1.93	1.88	-	1.86	1.95
Quick Ratio	1.32	1.30	1.34	1.33	1.36	1.40	1.42	1.34	-	1.35	1.44
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-236	-349	-727	-679	-843	-787	-259	-294	-159	-52	1.68
Operating Cash Flow to CapEx	316.16%	208.72%	307.81%	322.77%	525.47%	33.52%	0.00%	422.22%	-	73.13%	275.81%
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	0.41	0.41	0.42	0.42	0.43	0.42	0.42	-	0.42	0.42
Accounts Receivable Turnover	5.76	5.90	5.94	5.94	5.79	5.96	5.96	5.86	-	5.70	5.71
Inventory Turnover	10.83	27.32	30.50	30.90	23.50	23.24	22.60	19.11	-	7.64	5.62
Fixed Asset Turnover	2.97	0.00	0.00	3.07	3.03	2.97	2.96	3.03	-	2.93	2.92
Accounts Payable Turnover	4.91	12.76	15.10	14.64	10.10	11.31	10.89	9.64	-	4.32	2.99
Days Sales Outstanding (DSO)	63.38	61.86	61.48	61.48	63.03	61.25	61.26	62.29	-	64.08	63.96
Days Inventory Outstanding (DIO)	33.70	13.36	11.97	11.81	15.53	15.71	16.15	19.10	-	47.78	64.90
Days Payable Outstanding (DPO)	74.35	28.59	24.18	24.93	36.13	32.26	33.51	37.86	-	84.51	122.10
Cash Conversion Cycle (CCC)	22.73	46.62	49.27	48.36	42.43	44.70	43.90	43.53	-	27.35	6.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,757	5,859	6,310	6,303	6,521	6,689	6,684	6,684	6,755	6,788	6,776
Invested Capital Turnover	0.49	0.49	0.49	0.50	0.51	0.51	0.50	0.51	-	0.50	0.50
Increase / (Decrease) in Invested Capital	326	414	799	715	764	831	374	381	235	98	92
Enterprise Value (EV)	7,816	7,665	7,381	8,505	7,422	7,980	7,784	7,729	-	6,642	7,303
Market Capitalization	4,047	3,773	3,024	4,098	2,691	3,031	2,849	2,774	-	1,543	2,197
Book Value per Share	$15.71	$15.62	$15.36	$14.92	$14.08	$13.64	$13.64	$13.49	$13.24	$13.04	$12.77
Tangible Book Value per Share	($18.92)	($19.72)	($22.87)	($23.32)	($26.15)	($26.89)	($26.46)	($26.56)	($27.24)	($27.48)	($27.31)
Total Capital	6,137	6,233	6,751	6,740	7,006	7,137	7,154	7,117	7,229	7,195	7,220
Total Debt	2,775	2,871	3,132	3,192	3,370	3,551	3,575	3,564	3,702	3,714	3,751
Total Long-Term Debt	2,702	2,794	3,040	3,094	3,269	3,447	3,465	3,461	3,603	3,614	3,648
Net Debt	2,395	2,497	2,692	2,755	2,885	3,103	3,105	3,131	3,228	3,306	3,308
Capital Expenditures (CapEx)	20	20	27	20	21	18	-15	20	9.20	16	22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	249	265	340	336	327	380	392	416	395	419	434
Debt-free Net Working Capital (DFNWC)	445	450	553	558	596	609	642	619	635	601	650
Net Working Capital (NWC)	372	373	461	461	495	505	532	516	535	501	548
Net Nonoperating Expense (NNE)	43	40	44	29	-33	44	70	62	46	48	64
Net Nonoperating Obligations (NNO)	2,395	2,497	2,692	2,755	2,885	3,103	3,105	3,131	3,228	3,306	3,308
Total Depreciation and Amortization (D&A)	31	34	35	50	34	36	40	40	60	39	39
Debt-free, Cash-free Net Working Capital to Revenue	9.09%	9.47%	11.75%	11.26%	10.50%	11.97%	12.11%	12.65%	-	12.53%	12.88%
Debt-free Net Working Capital to Revenue	16.23%	16.09%	19.15%	18.69%	19.15%	19.20%	19.83%	18.83%	-	17.98%	19.32%
Net Working Capital to Revenue	13.56%	13.33%	15.95%	15.43%	15.89%	15.92%	16.44%	15.70%	-	14.98%	16.26%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.10)	($0.12)	($0.25)	($0.86)	($0.30)	($0.02)	($0.18)	($0.11)	($0.28)	($0.12)
Adjusted Weighted Average Basic Shares Outstanding	125.61M	125.97M	126.13M	126.17M	126.12M	126.60M	126.98M	127.21M	127.21M	128.37M	128.83M
Adjusted Diluted Earnings per Share	$0.00	($0.10)	($0.12)	($0.25)	($0.86)	($0.30)	($0.02)	($0.18)	($0.11)	($0.28)	($0.12)
Adjusted Weighted Average Diluted Shares Outstanding	125.61M	125.97M	126.13M	126.17M	126.12M	126.60M	126.98M	127.21M	127.21M	128.37M	128.83M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	126.61M	127.09M	127.12M	127.11M	127.61M	128.16M	128.21M	129.34M	129.42M	130.79M	130.92M
Normalized Net Operating Profit after Tax (NOPAT)	110	76	84	52	106	62	89	100	84	58	109
Normalized NOPAT Margin	14.94%	10.57%	10.98%	6.75%	12.29%	8.01%	10.82%	12.17%	-	7.10%	12.85%
Pre Tax Income Margin	7.17%	4.00%	4.37%	1.41%	8.58%	-0.04%	5.30%	3.75%	-	-0.41%	3.80%
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	101.92%	88.51%	109.45%	136.48%	1,287.20%	-1,507.44%	4,418.18%	903.00%	-	228.94%	259.71%
Augmented Payout Ratio	101.92%	88.51%	109.45%	136.48%	1,287.20%	-1,507.44%	4,418.18%	903.00%	-	228.94%	259.71%

Financials Breakdown Chart

Key Financial Trends

Surgery Partners (NASDAQ: SGRY) showed a mixed but generally resilient operating profile in Q1 2026, with revenue holding up while profitability and cash flow remained under pressure. The company generated $810.9 million in quarterly revenue, but posted a net loss attributable to common shareholders of $35.9 million and EPS of -$0.28. Cash on hand fell to $182.3 million from $203.4 million at the end of Q3 2025, while total debt stayed elevated at $3.71 billion in long-term debt plus $100.4 million in short-term debt.

Looking over the last several years, Surgery Partners has grown revenue meaningfully, but margins have been volatile and the balance sheet remains heavily leveraged. The company is still producing positive operating cash flow, which is important, but interest expense and noncontrolling interests continue to weigh on bottom-line results.

Revenue remains elevated year over year, with Q1 2026 revenue of $810.9 million versus $776.0 million in Q1 2025 and $717.4 million in Q1 2024.
The company continued to generate positive operating cash flow of $11.7 million in Q1 2026, even after a net loss.
Gross profit was solid at $563.5 million in Q1 2026, showing the core business can still produce healthy operating spread.
Selling, general and administrative expense as a percentage of revenue improved sharply versus earlier periods, helping support operating income.
Long-term investments of $225.4 million provide some additional liquidity cushion beyond cash on the balance sheet.
Total assets increased to $8.04 billion, reflecting a large asset base supported by goodwill and operating assets.
Operating cash flow has been inconsistent quarter to quarter, ranging from strong positive quarters to much weaker periods over the last year.
The company has continued to invest in acquisitions and capital spending, which may support growth but also consumes cash.
Q1 2026 bottom-line results were weak, with net income attributable to common shareholders at -$35.9 million and EPS of -$0.28.
Interest and investment income line was a major drag, showing a -$69.1 million expense in Q1 2026.
Leverage remains high, with $3.71 billion in long-term debt and $3.98 billion in total noncurrent liabilities.
Goodwill is very large at $5.25 billion, creating meaningful balance-sheet risk if business conditions weaken.
Retained earnings remain deeply negative at -$851.1 million, underscoring the company’s long history of accumulated losses.
Cash declined quarter over quarter, and financing activity remained negative despite continued debt issuance.

Longer-term trend: Surgery Partners has made clear top-line progress since 2023, but profitability has not kept pace. Revenue has climbed from the mid-$600 million range in early 2023 to over $800 million in Q1 2026, while net income has swung sharply and often remained negative for common shareholders due to high interest costs and ownership structure effects. For investors, the key question is whether continued revenue growth and operating leverage can eventually outrun the debt burden and translate into durable earnings power.

08/25/26 05:09 PM ETAI Generated. May Contain Errors.

Surgery Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Surgery Partners' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Surgery Partners' net income appears to be on an upward trend, with a most recent value of $98.90 million in 2025, falling from -$27.05 million in 2014. The previous period was $12.50 million in 2024. See where experts think Surgery Partners is headed by visiting Surgery Partners' forecast page.

Surgery Partners' total operating income in 2025 was $389.50 million, based on the following breakdown:

Total Gross Profit: $2.34 billion
Total Operating Expenses: $1.95 billion

Over the last 10 years, Surgery Partners' total revenue changed from $403.29 million in 2014 to $3.31 billion in 2025, a change of 720.4%.

Surgery Partners' total liabilities were at $4.59 billion at the end of 2025, a 7.9% increase from 2024, and a 183.0% increase since 2015.

In the past 10 years, Surgery Partners' cash and equivalents has ranged from $57.93 million in 2015 to $389.90 million in 2021, and is currently $239.90 million as of their latest financial filing in 2025.

Over the last 10 years, Surgery Partners' book value per share changed from -8.18 in 2014 to 13.24 in 2025, a change of -262.0%.

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Financial statements for NASDAQ:SGRY last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Surgery Partners (SGRY) Financials

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Surgery Partners (SGRY) Financials

Annual Income Statements for Surgery Partners

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Quarterly Cash Flow Statements for Surgery Partners

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Quarterly Balance Sheets for Surgery Partners

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Quarterly Metrics And Ratios for Surgery Partners

Financials Breakdown Chart

Key Financial Trends

Surgery Partners Financials - Frequently Asked Questions

When does Surgery Partners' financial year end?

How has Surgery Partners' net income changed over the last 10 years?

What is Surgery Partners' operating income?

How has Surgery Partners' revenue changed over the last 10 years?

How much debt does Surgery Partners have?

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How has Surgery Partners' book value per share changed over the last 10 years?

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