Select Medical (SEM) Financials

$14.96 +0.70 (+4.94%)

As of 11:05 AM Eastern

Annual Income Statements for Select Medical

This table shows Select Medical's income and expenses over time, based on annual financial 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
Net Income / (Loss) Attributable to Common Shareholders	131	115	177	138	148	259	402	159	243	214
Consolidated Net Income / (Loss)	136	125	221	177	201	345	500	198	300	297
Net Income / (Loss) Continuing Operations	136	125	221	177	201	345	500	19	110	130
Total Pre-Tax Income	208	181	202	236	265	456	630	35	140	175
Total Operating Income	275	300	356	417	472	568	714	145	267	268
Total Gross Profit	472	552	630	740	813	821	919	401	572	634
Total Revenue	3,743	4,217	4,365	5,081	5,454	5,532	6,205	4,609	4,826	5,187
Operating Revenue	3,743	4,217	4,365	5,081	5,454	5,532	6,205	4,609	4,826	5,187
Total Cost of Revenue	3,271	3,665	3,735	4,341	4,641	4,710	5,285	4,208	4,254	4,553
Operating Cost of Revenue	3,212	3,665	3,735	4,341	4,641	4,710	5,285	4,208	4,254	4,553
Total Operating Expenses	197	252	274	323	341	254	206	257	304	365
Selling, General & Admin Expense	92	107	114	121	128	138	147	153	170	226
Depreciation Expense	105	145	160	202	213	206	203	132	136	143
Other Operating Expenses / (Income)	-	-	-	0.00	0.00	-90	-144	-28	-1.52	-3.41
Total Other Income / (Expense), net	-66	-119	-153	-182	-207	-111	-84	-109	-128	-94
Interest Expense	113	182	174	213	239	153	136	137	169	157
Interest & Investment Income	17	20	21	22	25	29	50	28	41	64
Income Tax Expense	72	55	-18	59	64	112	130	17	29	45
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	179	189	167
Net Income / (Loss) Attributable to Noncontrolling Interest	5.26	9.86	43	39	53	86	98	39	56	83
Basic Earnings per Share	$1.00	$0.88	$1.33	$1.02	$1.10	$1.93	$2.98	$1.23	$1.91	$1.66
Weighted Average Basic Shares Outstanding	127.48M	131.10M	133.20M	135.26M	134.31M	134.84M	133.88M	127.17M	128.36M	128.96M
Diluted Earnings per Share	$0.99	$0.87	$1.33	$1.02	$1.10	$1.93	$2.98	$1.23	$1.91	$1.66
Weighted Average Diluted Shares Outstanding	127.75M	131.10M	133.20M	135.26M	134.31M	134.84M	133.88M	127.17M	128.36M	128.96M
Weighted Average Basic & Diluted Shares Outstanding	130.70M	131.10M	133.20M	135.26M	134.31M	134.84M	133.88M	127.17M	128.36M	128.96M
Cash Dividends to Common per Share	$0.10	$0.00	$0.00	-	-	-	$0.38	$0.50	$0.50	$0.50

This table shows Select Medical's 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	27	28	71	78	48	46	97	78	56	-16
Consolidated Net Income / (Loss)	38	38	85	92	61	62	117	95	81	3.76
Net Income / (Loss) Continuing Operations	38	-142	85	92	61	-127	117	95	81	-163
Total Pre-Tax Income	54	-179	111	121	77	-169	154	127	108	-214
Total Operating Income	91	-172	151	159	130	-173	194	158	141	-225
Total Gross Profit	174	-159	246	251	223	-149	294	262	237	-159
Total Revenue	1,568	-143	1,665	1,675	1,666	-179	1,789	1,760	1,761	-123
Operating Revenue	1,568	-143	1,665	1,675	1,666	-179	1,789	1,760	1,761	-123
Total Cost of Revenue	1,394	16	1,419	1,424	1,443	-31	1,495	1,498	1,524	37
Operating Cost of Revenue	1,394	16	1,419	1,424	1,443	-31	1,495	1,498	1,524	37
Total Operating Expenses	83	12	95	92	93	25	100	104	96	65
Selling, General & Admin Expense	39	39	42	43	41	44	48	50	47	80
Depreciation Expense	51	-21	52	50	52	-19	54	54	50	-15
Other Operating Expenses / (Income)	-8.44	-	0.00	-0.73	-0.49	-0.31	-2.28	0.00	-1.30	0.18
Total Other Income / (Expense), net	-37	-7.36	-40	-38	-53	4.40	-40	-31	-33	11
Interest Expense	45	16	49	49	65	6.33	51	37	66	3.20
Interest & Investment Income	8.08	8.34	8.56	11	12	11	10	6.32	33	14
Income Tax Expense	16	-37	26	29	16	-42	36	32	27	-51
Net Income / (Loss) Attributable to Noncontrolling Interest	11	10	14	14	13	16	20	17	25	20
Basic Earnings per Share	$0.21	$0.22	$0.56	$0.61	$0.38	$0.36	$0.75	$0.60	$0.43	($0.12)
Weighted Average Basic Shares Outstanding	126.98M	127.17M	127.13M	127.14M	128.21M	128.36M	130.03M	130.02M	129.47M	128.96M
Diluted Earnings per Share	$0.21	$0.22	$0.56	$0.61	$0.38	$0.36	$0.75	$0.60	$0.43	($0.12)
Weighted Average Diluted Shares Outstanding	126.98M	127.17M	127.13M	127.14M	128.21M	128.36M	130.03M	130.02M	129.47M	128.96M
Weighted Average Basic & Diluted Shares Outstanding	126.98M	127.17M	127.13M	127.14M	128.21M	128.36M	130.03M	130.02M	129.47M	128.96M

This table details how cash moves in and out of Select Medical's business through operations, investing, and financing, using annual figures. 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
Net Change in Cash & Equivalents	22	85	24	53	161	241	-503	24	-14	-24
Net Cash From Operating Activities	417	347	238	494	445	1,028	401	285	582	518
Net Cash From Continuing Operating Activities	419	347	238	494	445	1,028	401	285	582	518
Net Income / (Loss) Continuing Operations	272	125	221	177	201	345	500	198	300	297
Consolidated Net Income / (Loss)	272	125	221	177	201	345	500	198	300	297
Depreciation Expense	210	145	160	202	213	206	203	206	209	204
Amortization Expense	19	16	11	13	12	2.18	2.22	2.27	2.65	2.96
Non-Cash Adjustments To Reconcile Net Income	84	-14	16	11	41	412	-302	-53	28	102
Changes in Operating Assets and Liabilities, net	-166	74	-169	92	-21	64	-1.23	-68	43	-88
Net Cash From Investing Activities	-2,424	-554	-193	-697	-317	-115	-257	-226	-268	-231
Net Cash From Continuing Investing Activities	-2,427	-554	-193	-697	-317	-115	-257	-226	-268	-231
Purchase of Property, Plant & Equipment	-365	-162	-233	-167	-157	-146	-181	-190	-229	-222
Acquisitions	-2,128	-477	-40	-537	-160	-52	-103	-44	-39	-13
Divestitures	66	84	80	6.76	0.19	83	27	8.34	0.16	4.26
Net Cash From Financing Activities	2,029	292	-22	256	32	-672	-647	-35	-327	-311
Net Cash From Continuing Financing Activities	2,028	291	-22	256	32	-672	-647	-35	-327	-311
Repayment of Debt	-1,885	-1,114	-2,164	-843	-3,079	-558	-40	-871	-3,231	-4,811
Repurchase of Common Equity	-16	-2.93	-4.75	-6.84	-39	-592	-740	-201	-19	-38
Payment of Dividends	396	-3.74	-11	-312	-22	-39	-124	-108	-127	-125
Issuance of Debt	3,517	1,398	2,156	1,417	3,177	510	193	1,146	3,029	4,322
Issuance of Common Equity	-	-	9.98	2.93	18	7.56	21	9.53	23	16
Other Financing Activities, net	15	14	-7.88	-2.66	-24	0.00	42	-10	-1.69	325
Cash Interest Paid	-	143	149	193	183	155	132	183	272	256
Cash Income Taxes Paid	159	71	65	48	71	109	181	32	89	133

This table details how cash moves in and out of Select Medical's 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	14	-10	-14	17	-24	6.57	8.61	19	80	-132
Net Cash From Operating Activities	94	13	51	235	116	179	-67	278	181	125
Net Cash From Continuing Operating Activities	94	13	51	235	116	179	-67	278	181	125
Net Income / (Loss) Continuing Operations	38	38	85	92	61	62	117	95	81	3.76
Consolidated Net Income / (Loss)	38	38	85	92	61	62	117	95	81	3.76
Depreciation Expense	51	52	52	50	52	54	54	54	50	46
Amortization Expense	0.57	0.58	0.57	0.61	0.73	0.75	0.75	0.74	0.79	0.68
Non-Cash Adjustments To Reconcile Net Income	2.06	6.21	4.61	6.42	1.51	15	14	9.39	7.66	70
Changes in Operating Assets and Liabilities, net	2.05	-84	-91	86	0.90	48	-253	119	41	4.89
Net Cash From Investing Activities	-55	-57	-69	-67	-63	-70	-58	-54	-45	-74
Net Cash From Continuing Investing Activities	-55	-57	-69	-67	-63	-70	-58	-54	-45	-74
Purchase of Property, Plant & Equipment	-42	-55	-59	-60	-50	-61	-53	-56	-51	-63
Acquisitions	-13	-4.96	-10	-7.34	-13	-9.08	-5.41	-0.59	3.68	-11
Divestitures	-	-	0.02	0.04	0.00	0.10	0.27	2.07	1.91	0.02
Net Cash From Financing Activities	-26	34	3.42	-151	-77	-103	133	-206	-56	-183
Net Cash From Continuing Financing Activities	-26	34	3.42	-151	-77	-103	133	-206	-56	-183
Repayment of Debt	-258	-220	-221	-340	-2,326	-344	-353	-399	-2,223	-1,835
Repurchase of Common Equity	-15	-7.79	-	-	-9.54	-7.98	-	-	-17	-20
Payment of Dividends	-38	-18	-24	-32	-47	-25	-29	-22	-34	-40
Issuance of Debt	283	280	246	211	2,301	271	513	220	1,712	1,877
Issuance of Common Equity	0.14	2.43	2.73	12	5.65	2.47	4.00	1.75	515	-505
Other Financing Activities, net	1.96	-1.30	-0.72	0.26	-1.50	0.28	-1.74	-4.91	-9.45	341
Cash Interest Paid	69	40	85	49	88	51	89	53	75	39
Cash Income Taxes Paid	8.42	7.45	0.34	42	36	10	0.60	60	42	30

This table presents Select Medical's 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	4,389	4,921	5,127	5,964	7,340	7,655	7,360	7,665	7,690	5,608
Total Current Assets	749	763	921	993	1,213	1,594	1,139	1,271	1,258	1,020
Cash & Equivalents	14	99	123	175	336	577	74	98	53	60
Accounts Receivable	604	574	692	707	763	897	889	941	724	821
Current Deferred & Refundable Income Taxes	45	12	31	21	19	5.69	56	32	15	27
Other Current Assets	86	78	75	90	96	114	120	200	175	112
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	291	0.00
Plant, Property, & Equipment, net	864	892	913	980	998	943	961	1,001	845	872
Total Noncurrent Assets	2,775	3,266	3,294	3,992	5,129	5,118	5,259	5,393	5,587	3,716
Goodwill	2,315	2,751	2,783	3,321	3,392	3,379	3,449	3,484	2,283	2,332
Intangible Assets	319	341	327	438	409	388	375	352	105	103
Other Noncurrent Operating Assets	142	174	184	234	1,328	1,351	1,435	1,557	1,159	1,281
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	2,039	0.00
Total Liabilities & Shareholders' Equity	4,389	4,921	5,127	5,964	7,340	7,655	7,360	7,665	7,690	5,608
Total Liabilities	3,242	3,593	3,554	4,268	5,437	6,004	5,995	6,275	6,116	3,611
Total Current Liabilities	729	572	605	705	914	1,438	1,273	1,155	1,248	978
Short-Term Debt	225	14	22	44	25	13	18	44	69	20
Accounts Payable	137	127	128	147	146	177	234	187	706	752
Other Current Liabilities	29	39	29	25	208	542	355	269	203	205
Other Current Nonoperating Liabilities	9.40	22	20	12	34	29	29	30	271	0.00
Total Noncurrent Liabilities	2,513	3,021	2,948	3,562	4,522	4,566	4,722	5,120	4,867	2,633
Long-Term Debt	2,161	2,685	2,678	3,250	3,420	3,389	3,556	3,835	3,584	1,692
Noncurrent Deferred & Payable Income Tax Liabilities	219	199	125	154	148	132	143	170	120	81
Other Noncurrent Operating Liabilities	133	137	146	159	954	1,044	1,023	1,115	751	860
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	411	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	238	422	641	780	975	398	39	34	26	10
Total Equity & Noncontrolling Interests	909	906	933	916	929	1,253	1,326	1,357	1,548	1,987
Total Preferred & Common Equity	859	816	823	803	771	1,060	1,110	1,122	1,288	1,681
Total Common Equity	859	816	823	803	771	1,060	1,110	1,122	1,288	1,681
Common Stock	425	444	464	483	491	509	504	452	494	911
Retained Earnings	435	372	360	320	280	553	593	581	752	770
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	0.00	-2.03	12	89	43	0.00
Noncontrolling Interest	49	90	109	113	158	192	216	235	259	306

This table presents Select Medical's 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	7,555	7,700	7,702	7,684	7,858	7,875	8,003
Total Current Assets	1,217	1,314	1,304	1,276	1,440	1,365	1,404
Cash & Equivalents	108	84	101	77	93	111	191
Accounts Receivable	909	997	965	944	1,135	1,078	1,060
Current Deferred & Refundable Income Taxes	19	17	17	23	9.03	8.45	8.67
Other Current Assets	181	216	222	232	204	167	144
Plant, Property, & Equipment, net	957	987	1,004	1,007	1,025	1,031	1,040
Total Noncurrent Assets	5,380	5,399	5,393	5,401	5,393	5,480	5,558
Goodwill	3,479	3,485	3,486	3,505	3,517	3,525	3,555
Intangible Assets	358	347	347	337	324	317	313
Other Noncurrent Operating Assets	1,543	1,568	1,560	1,560	1,552	1,637	1,690
Total Liabilities & Shareholders' Equity	7,555	7,700	7,702	7,684	7,858	7,875	8,003
Total Liabilities	6,187	6,247	6,166	6,134	6,192	6,139	5,702
Total Current Liabilities	1,197	1,186	1,188	1,166	1,184	1,257	1,246
Short-Term Debt	43	114	57	35	60	46	43
Accounts Payable	207	174	187	183	850	939	939
Other Current Liabilities	269	271	273	273	274	272	264
Total Noncurrent Liabilities	4,990	5,061	4,978	4,968	5,008	4,882	4,457
Long-Term Debt	3,750	3,767	3,695	3,695	3,759	3,594	3,099
Noncurrent Deferred & Payable Income Tax Liabilities	162	163	156	147	134	98	96
Other Noncurrent Operating Liabilities	1,078	1,131	1,126	1,125	1,115	1,190	1,262
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	34	34	34	27	28	30	30
Total Equity & Noncontrolling Interests	1,335	1,418	1,502	1,523	1,638	1,707	2,270
Total Preferred & Common Equity	1,106	1,170	1,246	1,268	1,367	1,417	1,915
Total Common Equity	1,106	1,170	1,246	1,268	1,367	1,417	1,915
Common Stock	445	462	474	482	506	519	859
Retained Earnings	570	635	697	723	831	891	1,056
Accumulated Other Comprehensive Income / (Loss)	91	73	75	63	31	5.78	0.00
Noncontrolling Interest	229	248	256	256	270	290	355

This table displays calculated financial ratios and metrics derived from Select Medical's official financial filings.

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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.11%	12.68%	3.50%	16.40%	7.33%	1.43%	12.16%	-25.71%	4.70%	7.48%
EBITDA Growth	48.03%	-5.63%	4.67%	21.65%	9.59%	12.15%	16.87%	-61.68%	35.65%	-0.72%
EBIT Growth	7.02%	12.50%	3.89%	19.80%	12.23%	21.24%	23.43%	-79.78%	84.62%	0.40%
NOPAT Growth	0.21%	15.92%	86.62%	-19.18%	14.31%	19.60%	32.23%	-86.57%	177.59%	-5.55%
Net Income Growth	6.10%	-7.89%	76.14%	-19.81%	13.61%	71.42%	45.08%	-60.39%	51.36%	-1.01%
EPS Growth	8.79%	-12.12%	52.87%	-23.31%	7.84%	75.45%	54.40%	-58.72%	55.28%	-13.09%
Operating Cash Flow Growth	144.27%	-16.85%	-31.30%	107.53%	-9.92%	130.93%	-60.97%	-29.01%	104.36%	-11.03%
Free Cash Flow Firm Growth	-964.54%	78.55%	177.95%	-304.72%	140.45%	599.13%	-81.60%	-230.24%	911.61%	-95.89%
Invested Capital Growth	50.33%	11.98%	5.58%	15.74%	4.55%	-10.73%	8.62%	6.30%	-32.20%	3.46%
Revenue Q/Q Growth	7.70%	-1.44%	-18.26%	0.18%	33.31%	1.58%	1.63%	-26.98%	-26.73%	-25.56%
EBITDA Q/Q Growth	71.92%	-18.12%	-12.45%	1.20%	23.09%	6.51%	-8.29%	-41.36%	-35.05%	-42.22%
EBIT Q/Q Growth	12.62%	-0.29%	-17.73%	-1.24%	38.54%	9.57%	-10.46%	-63.26%	-49.34%	-55.81%
NOPAT Q/Q Growth	3.35%	-1.55%	39.34%	-33.78%	43.28%	8.56%	-6.18%	-76.81%	-48.41%	-57.18%
Net Income Q/Q Growth	-1.21%	-4.11%	53.73%	-38.73%	40.48%	20.47%	-6.70%	-12.62%	8.74%	-16.36%
EPS Q/Q Growth	2.06%	-8.42%	84.72%	-35.85%	5.77%	0.00%	0.00%	0.00%	7.91%	-22.43%
Operating Cash Flow Q/Q Growth	499.01%	-29.86%	21.61%	1.03%	17.20%	2.89%	-40.06%	34.65%	40.20%	-9.44%
Free Cash Flow Firm Q/Q Growth	-1.18%	6.90%	246.59%	-48.62%	468.26%	2.34%	-62.96%	-188.07%	630.27%	-81.99%
Invested Capital Q/Q Growth	1.25%	0.62%	0.35%	-0.68%	-0.77%	-0.61%	5.12%	2.73%	-32.37%	-30.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	12.61%	13.09%	14.43%	14.57%	14.91%	14.85%	14.82%	8.71%	11.84%	12.22%
EBITDA Margin	14.25%	11.94%	12.07%	12.62%	12.88%	14.24%	14.84%	7.66%	9.92%	9.16%
Operating Margin	7.34%	7.11%	8.15%	8.21%	8.65%	10.26%	11.50%	3.14%	5.54%	5.17%
EBIT Margin	8.13%	8.12%	8.15%	8.39%	8.77%	10.49%	11.54%	3.14%	5.54%	5.17%
Profit (Net Income) Margin	3.63%	2.97%	5.05%	3.48%	3.69%	6.23%	8.06%	4.30%	6.21%	5.72%
Tax Burden Percent	65.25%	69.31%	108.98%	75.12%	75.93%	75.49%	79.39%	561.49%	214.52%	169.77%
Interest Burden Percent	68.46%	52.77%	56.90%	55.26%	55.34%	78.70%	87.96%	24.36%	52.28%	65.14%
Effective Tax Rate	34.75%	30.69%	-8.98%	24.88%	24.07%	24.51%	20.61%	47.42%	20.94%	25.62%
Return on Invested Capital (ROIC)	6.10%	5.56%	9.55%	6.97%	7.26%	8.97%	12.06%	1.51%	4.84%	5.56%
ROIC Less NNEP Spread (ROIC-NNEP)	3.91%	2.26%	3.15%	2.20%	2.24%	6.17%	9.97%	4.83%	7.91%	10.95%
Return on Net Nonoperating Assets (RNNOA)	7.97%	4.57%	5.66%	3.85%	3.91%	10.42%	21.09%	12.87%	15.38%	11.06%
Return on Equity (ROE)	14.07%	10.12%	15.21%	10.82%	11.17%	19.39%	33.15%	14.37%	20.22%	16.62%
Cash Return on Invested Capital (CROIC)	-34.11%	-5.75%	4.13%	-7.62%	2.81%	20.31%	3.80%	-4.60%	43.22%	2.16%
Operating Return on Assets (OROA)	8.33%	7.36%	7.08%	7.69%	7.19%	7.74%	9.54%	1.93%	3.48%	4.04%
Return on Assets (ROA)	3.72%	2.69%	4.39%	3.19%	3.02%	4.60%	6.66%	2.64%	3.90%	4.46%
Return on Common Equity (ROCE)	11.64%	6.85%	8.59%	5.38%	4.88%	9.99%	23.86%	11.64%	16.44%	13.82%
Return on Equity Simple (ROE_SIMPLE)	15.83%	15.36%	26.80%	22.03%	26.08%	32.50%	45.04%	17.65%	23.27%	17.65%
Net Operating Profit after Tax (NOPAT)	179	208	388	313	358	429	567	76	211	200
NOPAT Margin	4.79%	4.93%	8.88%	6.17%	6.57%	7.75%	9.13%	1.65%	4.38%	3.85%
Net Nonoperating Expense Percent (NNEP)	2.20%	3.30%	6.41%	4.77%	5.01%	2.80%	2.09%	-3.32%	-3.07%	-5.39%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	1.45%	4.06%	5.40%
Cost of Revenue to Revenue	87.39%	86.91%	85.57%	85.43%	85.09%	85.15%	85.18%	91.29%	88.16%	87.78%
SG&A Expenses to Revenue	2.46%	2.54%	2.61%	2.39%	2.36%	2.50%	2.37%	3.32%	3.53%	4.35%
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	5.26%	5.98%	6.28%	6.36%	6.25%	4.59%	3.31%	5.57%	6.31%	7.04%
Earnings before Interest and Taxes (EBIT)	304	342	356	426	478	580	716	145	267	268
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	533	503	527	641	703	788	921	353	479	475
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.71	2.02	2.70	2.43	3.82	3.31	3.38	1.49	1.27	1.45
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)	0.39	0.39	0.51	0.38	0.54	0.63	0.60	0.36	0.34	0.47
Price to Earnings (P/E)	11.24	14.28	12.53	14.17	19.86	13.53	9.32	10.53	6.70	11.40
Dividend Yield	3.57%	0.00%	0.00%	0.00%	0.00%	0.00%	1.34%	3.79%	3.93%	95.12%
Earnings Yield	8.90%	7.00%	7.98%	7.06%	5.04%	7.39%	10.73%	9.50%	14.93%	8.77%
Enterprise Value to Invested Capital (EV/IC)	1.17	1.21	1.33	1.24	1.42	1.54	1.53	1.10	1.56	1.21
Enterprise Value to Revenue (EV/Rev)	1.10	1.13	1.27	1.17	1.32	1.25	1.21	1.24	1.14	0.85
Enterprise Value to EBITDA (EV/EBITDA)	7.74	9.46	10.53	9.31	10.23	8.78	8.15	16.22	11.53	9.28
Enterprise Value to EBIT (EV/EBIT)	13.56	13.90	15.59	13.99	15.03	11.93	10.48	39.55	20.64	16.43
Enterprise Value to NOPAT (EV/NOPAT)	23.02	22.91	14.31	19.03	20.07	16.15	13.24	75.21	26.11	22.09
Enterprise Value to Operating Cash Flow (EV/OCF)	9.90	13.74	23.30	12.07	16.15	6.73	18.70	20.10	9.48	8.51
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	33.12	0.00	51.83	7.14	42.04	0.00	2.93	56.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.08	2.03	1.72	1.94	1.81	2.06	2.62	2.79	2.32	0.86
Long-Term Debt to Equity	1.88	2.02	1.70	1.92	1.80	2.05	2.61	2.76	2.28	0.85
Financial Leverage	2.04	2.02	1.80	1.75	1.74	1.69	2.12	2.66	1.94	1.01
Leverage Ratio	3.78	3.76	3.46	3.39	3.70	4.22	4.98	5.45	5.18	3.72
Compound Leverage Factor	2.59	1.99	1.97	1.87	2.05	3.32	4.38	1.33	2.71	2.43
Debt to Total Capital	67.54%	67.02%	63.18%	66.00%	64.41%	67.32%	72.36%	73.61%	69.89%	46.15%
Short-Term Debt to Total Capital	6.37%	0.34%	0.52%	0.88%	0.47%	0.25%	0.36%	0.84%	1.32%	0.55%
Long-Term Debt to Total Capital	61.16%	66.68%	62.66%	65.12%	63.94%	67.07%	72.01%	72.77%	68.57%	45.61%
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	8.14%	12.72%	17.55%	17.91%	21.18%	11.69%	5.16%	5.10%	5.47%	8.51%
Common Equity to Total Capital	24.32%	20.26%	19.27%	16.09%	14.41%	20.99%	22.47%	21.29%	24.65%	45.33%
Debt to EBITDA	4.47	5.36	5.12	5.14	4.90	4.32	3.88	10.99	7.63	3.60
Net Debt to EBITDA	4.45	5.16	4.89	4.86	4.43	3.59	3.80	10.72	7.52	3.48
Long-Term Debt to EBITDA	4.05	5.33	5.08	5.07	4.87	4.30	3.86	10.87	7.49	3.56
Debt to NOPAT	13.31	12.99	6.96	10.51	9.61	7.94	6.31	50.97	17.29	8.58
Net Debt to NOPAT	13.23	12.51	6.65	9.95	8.68	6.59	6.18	49.68	17.04	8.28
Long-Term Debt to NOPAT	12.05	12.92	6.90	10.37	9.54	7.91	6.28	50.39	16.96	8.48
Altman Z-Score	1.50	1.51	1.63	1.50	1.39	1.45	1.63	0.95	1.04	1.69
Noncontrolling Interest Sharing Ratio	17.29%	32.32%	43.51%	50.27%	56.28%	48.48%	28.04%	19.00%	18.70%	16.84%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.03	1.33	1.52	1.41	1.33	1.11	0.90	1.10	1.01	1.04
Quick Ratio	0.85	1.18	1.35	1.25	1.20	1.02	0.76	0.90	0.62	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,002	-215	168	-343	139	970	178	-232	1,886	78
Operating Cash Flow to CapEx	114.11%	214.44%	102.10%	295.43%	283.33%	702.04%	222.24%	149.62%	253.95%	233.09%
Free Cash Flow to Firm to Interest Expense	-8.88	-1.18	0.96	-1.61	0.58	6.34	1.31	-1.69	11.17	0.49
Operating Cash Flow to Interest Expense	3.69	1.91	1.37	2.32	1.87	6.72	2.95	2.07	3.45	3.29
Operating Cash Flow Less CapEx to Interest Expense	0.46	1.02	0.03	1.54	1.21	5.76	1.62	0.69	2.09	1.88
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.02	0.91	0.87	0.92	0.82	0.74	0.83	0.61	0.63	0.78
Accounts Receivable Turnover	7.14	7.16	6.90	7.27	7.42	6.67	6.95	5.04	5.80	6.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.32	4.80	4.84	5.37	5.51	5.70	6.51	4.70	5.23	6.04
Accounts Payable Turnover	26.60	27.77	29.33	31.58	31.74	29.18	25.72	20.01	9.54	6.25
Days Sales Outstanding (DSO)	51.09	50.95	52.91	50.23	49.17	54.75	52.54	72.48	62.98	54.38
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	13.72	13.14	12.45	11.56	11.50	12.51	14.19	18.24	38.28	58.42
Cash Conversion Cycle (CCC)	37.37	37.80	40.46	38.67	37.67	42.24	38.35	54.24	24.70	-4.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,528	3,950	4,171	4,827	5,047	4,505	4,894	5,202	3,527	3,649
Invested Capital Turnover	1.27	1.13	1.08	1.13	1.10	1.16	1.32	0.91	1.11	1.45
Increase / (Decrease) in Invested Capital	1,181	423	220	656	220	-541	388	309	-1,675	122
Enterprise Value (EV)	4,128	4,761	5,548	5,965	7,190	6,921	7,502	5,724	5,517	4,408
Market Capitalization	1,469	1,649	2,221	1,953	2,948	3,505	3,747	1,674	1,631	2,440
Book Value per Share	$6.55	$6.16	$6.15	$5.93	$5.74	$7.87	$8.27	$8.84	$10.05	$12.99
Tangible Book Value per Share	($13.52)	($17.20)	($17.08)	($21.84)	($22.56)	($20.08)	($20.23)	($21.37)	($8.58)	($5.82)
Total Capital	3,533	4,027	4,273	4,990	5,349	5,053	4,939	5,270	5,227	3,709
Total Debt	2,386	2,699	2,700	3,293	3,445	3,402	3,574	3,880	3,653	1,712
Total Long-Term Debt	2,161	2,685	2,678	3,250	3,420	3,389	3,556	3,835	3,584	1,692
Net Debt	2,371	2,600	2,577	3,118	3,109	2,825	3,500	3,782	3,601	1,652
Capital Expenditures (CapEx)	365	162	233	167	157	146	181	190	229	222
Debt-free, Cash-free Net Working Capital (DFCFNWC)	231	106	215	156	-12	-409	-190	63	25	2.70
Debt-free Net Working Capital (DFNWC)	245	205	338	331	324	168	-116	161	78	62
Net Working Capital (NWC)	20	191	315	287	299	156	-134	116	9.18	42
Net Nonoperating Expense (NNE)	43	83	167	137	157	84	67	-122	-88	-97
Net Nonoperating Obligations (NNO)	2,381	2,622	2,597	3,130	3,143	2,854	3,529	3,811	1,953	1,652
Total Depreciation and Amortization (D&A)	229	161	171	215	224	208	205	208	211	207
Debt-free, Cash-free Net Working Capital to Revenue	6.16%	2.51%	4.93%	3.07%	-0.22%	-7.39%	-3.07%	1.36%	0.53%	0.05%
Debt-free Net Working Capital to Revenue	6.55%	4.86%	7.73%	6.52%	5.94%	3.04%	-1.87%	3.48%	1.62%	1.20%
Net Working Capital to Revenue	0.53%	4.54%	7.23%	5.65%	5.48%	2.81%	-2.15%	2.52%	0.19%	0.81%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.00	$0.88	$1.33	$1.02	$0.00	$0.00	$2.98	$1.23	$1.91	$1.66
Adjusted Weighted Average Basic Shares Outstanding	127.48M	127.81M	128.96M	135.26M	0.00	0.00	133.88M	127.17M	128.36M	128.96M
Adjusted Diluted Earnings per Share	$0.99	$0.87	$1.33	$1.02	$0.00	$0.00	$2.98	$1.23	$1.91	$1.66
Adjusted Weighted Average Diluted Shares Outstanding	127.75M	127.97M	129.13M	135.26M	0.00	0.00	133.88M	127.17M	128.36M	128.96M
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	131.28M	132.68M	134.10M	135.26M	0.00	0.00	133.88M	127.17M	128.36M	128.96M
Normalized Net Operating Profit after Tax (NOPAT)	179	208	249	313	358	429	567	76	211	200
Normalized NOPAT Margin	4.79%	4.93%	5.71%	6.17%	6.57%	7.75%	9.13%	1.65%	4.38%	3.85%
Pre Tax Income Margin	5.57%	4.29%	4.64%	4.64%	4.85%	8.25%	10.15%	0.77%	2.90%	3.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.70	1.88	2.04	2.00	2.00	3.79	5.26	1.05	1.58	1.70
NOPAT to Interest Expense	1.59	1.14	2.22	1.47	1.50	2.80	4.17	0.55	1.25	1.27
EBIT Less CapEx to Interest Expense	-0.54	1.00	0.70	1.22	1.35	2.83	3.94	-0.33	0.23	0.29
NOPAT Less CapEx to Interest Expense	-1.65	0.25	0.89	0.69	0.84	1.84	2.84	-0.83	-0.11	-0.14
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-290.98%	2.98%	4.81%	176.06%	10.83%	11.20%	24.74%	54.38%	42.52%	42.00%
Augmented Payout Ratio	-279.35%	5.32%	6.97%	179.92%	30.00%	183.10%	172.78%	156.09%	48.86%	54.78%

This table displays calculated financial ratios and metrics derived from Select Medical's 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	2.19%	-109.16%	4.09%	5.67%	6.24%	-25.42%	7.44%	5.08%	5.73%	31.60%
EBITDA Growth	-28.59%	-191.39%	31.41%	21.52%	27.58%	0.16%	21.69%	1.30%	4.91%	-50.16%
EBIT Growth	-39.13%	-321.39%	45.65%	31.61%	42.08%	-1.00%	28.07%	-0.88%	8.60%	-29.53%
NOPAT Growth	-45.51%	-234.79%	47.18%	30.11%	60.89%	-1.00%	27.67%	-2.82%	2.72%	-29.53%
Net Income Growth	-61.96%	-43.13%	52.45%	38.63%	59.51%	63.87%	37.43%	3.16%	33.21%	-93.92%
EPS Growth	-63.16%	0.00%	51.35%	41.86%	80.95%	63.64%	33.93%	-1.64%	13.16%	-133.33%
Operating Cash Flow Growth	-4.74%	120.65%	711.74%	36.79%	23.42%	1,330.50%	-229.64%	18.44%	55.55%	-30.10%
Free Cash Flow Firm Growth	-7,566.89%	-43.33%	81.70%	86.86%	86.06%	462.40%	116.97%	245.90%	246.99%	-117.97%
Invested Capital Growth	8.79%	6.30%	4.15%	3.34%	2.99%	-32.20%	2.51%	0.93%	0.68%	3.46%
Revenue Q/Q Growth	-1.07%	-109.11%	5.28%	0.57%	-0.53%	-110.76%	7.83%	-1.63%	0.09%	-106.96%
EBITDA Q/Q Growth	-16.87%	-182.82%	46.36%	2.59%	-12.72%	-164.81%	47.22%	-14.59%	-9.61%	-192.76%
EBIT Q/Q Growth	-24.39%	-287.68%	74.36%	5.12%	-18.37%	-233.41%	69.77%	-18.65%	-10.56%	-259.13%
NOPAT Q/Q Growth	-31.09%	-287.27%	63.71%	4.56%	-14.79%	-217.56%	54.31%	-20.41%	-9.94%	-248.25%
Net Income Q/Q Growth	-42.46%	-1.09%	126.07%	7.74%	-33.79%	1.61%	89.60%	-19.12%	-14.51%	-95.36%
EPS Q/Q Growth	-51.16%	4.76%	154.55%	8.93%	-37.70%	-5.26%	108.33%	-20.00%	-28.33%	-127.91%
Operating Cash Flow Q/Q Growth	-45.09%	-86.69%	310.08%	356.53%	-50.46%	54.24%	-137.16%	517.09%	-34.94%	-30.69%
Free Cash Flow Firm Q/Q Growth	4.36%	-24.33%	60.54%	49.49%	-1.44%	3,332.44%	-89.39%	334.29%	2.20%	-495.25%
Invested Capital Q/Q Growth	0.31%	2.73%	1.12%	-0.82%	-0.03%	-32.37%	4.74%	-2.35%	-0.28%	-30.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	11.10%	0.00%	14.78%	14.98%	13.40%	0.00%	16.45%	14.87%	13.47%	0.00%
EBITDA Margin	9.15%	0.00%	12.28%	12.53%	10.99%	0.00%	13.91%	12.08%	10.91%	0.00%
Operating Margin	5.83%	0.00%	9.10%	9.51%	7.80%	0.00%	10.84%	8.97%	8.01%	0.00%
EBIT Margin	5.83%	0.00%	9.10%	9.51%	7.80%	0.00%	10.84%	8.97%	8.01%	0.00%
Profit (Net Income) Margin	2.43%	0.00%	5.12%	5.49%	3.65%	0.00%	6.55%	5.39%	4.60%	0.00%
Tax Burden Percent	70.15%	-21.06%	76.50%	76.10%	79.44%	-36.57%	76.27%	74.61%	75.14%	-1.76%
Interest Burden Percent	59.42%	104.29%	73.58%	75.82%	58.91%	97.47%	79.20%	80.49%	76.40%	95.15%
Effective Tax Rate	29.85%	0.00%	23.50%	23.90%	20.56%	0.00%	23.73%	25.39%	24.86%	0.00%
Return on Invested Capital (ROIC)	5.32%	0.00%	8.64%	9.15%	7.94%	0.00%	10.54%	8.77%	8.02%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	4.50%	0.00%	7.82%	8.35%	6.79%	0.00%	9.72%	8.14%	7.26%	0.00%
Return on Net Nonoperating Assets (RNNOA)	8.52%	0.00%	20.35%	21.40%	17.13%	0.00%	23.49%	17.93%	12.47%	0.00%
Return on Equity (ROE)	13.83%	0.00%	28.99%	30.55%	25.07%	0.00%	34.03%	26.70%	20.49%	0.00%
Cash Return on Invested Capital (CROIC)	-1.66%	-4.60%	2.60%	3.96%	5.03%	43.22%	6.28%	7.90%	8.23%	2.16%
Operating Return on Assets (OROA)	4.77%	0.00%	7.64%	8.09%	6.74%	0.00%	9.46%	7.91%	7.12%	0.00%
Return on Assets (ROA)	1.99%	0.00%	4.30%	4.67%	3.16%	0.00%	5.72%	4.75%	4.09%	0.00%
Return on Common Equity (ROCE)	9.27%	0.00%	23.39%	24.57%	20.39%	0.00%	27.69%	21.73%	16.94%	0.00%
Return on Equity Simple (ROE_SIMPLE)	20.50%	0.00%	19.42%	20.30%	21.74%	0.00%	24.26%	23.62%	18.52%	0.00%
Net Operating Profit after Tax (NOPAT)	64	-120	116	121	103	-121	148	118	106	-157
NOPAT Margin	4.09%	0.00%	6.96%	7.24%	6.20%	0.00%	8.27%	6.69%	6.02%	0.00%
Net Nonoperating Expense Percent (NNEP)	0.82%	-4.30%	0.82%	0.79%	1.15%	-6.35%	0.82%	0.64%	0.76%	-8.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.29%	-	-	-	-2.33%	-	-	-	-4.25%
Cost of Revenue to Revenue	88.90%	0.00%	85.22%	85.02%	86.60%	0.00%	83.55%	85.13%	86.53%	0.00%
SG&A Expenses to Revenue	2.52%	0.00%	2.54%	2.54%	2.48%	0.00%	2.71%	2.83%	2.69%	0.00%
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	5.26%	0.00%	5.69%	5.48%	5.60%	0.00%	5.60%	5.90%	5.46%	0.00%
Earnings before Interest and Taxes (EBIT)	91	-172	151	159	130	-173	194	158	141	-225
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	143	-119	204	210	183	-119	249	212	192	-178
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.43	1.49	2.73	3.18	2.49	1.27	2.81	3.21	2.37	1.45
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)	0.43	0.36	0.50	0.61	0.48	0.34	0.57	0.66	0.65	0.47
Price to Earnings (P/E)	14.80	10.53	17.72	19.45	14.04	6.70	14.23	16.89	16.41	11.40
Dividend Yield	2.35%	3.79%	1.99%	1.60%	2.01%	3.93%	1.67%	1.43%	1.43%	95.12%
Earnings Yield	6.76%	9.50%	5.64%	5.14%	7.12%	14.93%	7.03%	5.92%	6.10%	8.77%
Enterprise Value to Invested Capital (EV/IC)	1.31	1.10	1.38	1.51	1.36	1.56	1.46	1.59	1.50	1.21
Enterprise Value to Revenue (EV/Rev)	1.05	1.24	1.14	1.22	1.08	1.14	1.16	1.22	1.13	0.85
Enterprise Value to EBITDA (EV/EBITDA)	11.02	16.22	11.03	11.33	9.62	11.53	9.70	10.32	9.57	9.28
Enterprise Value to EBIT (EV/EBIT)	16.83	39.55	16.15	16.16	13.44	20.64	13.16	14.08	12.96	16.43
Enterprise Value to NOPAT (EV/NOPAT)	20.20	75.21	21.18	21.26	17.31	26.11	16.85	18.13	16.88	22.09
Enterprise Value to Operating Cash Flow (EV/OCF)	31.35	20.10	22.07	20.10	17.08	9.48	16.95	16.54	13.76	8.51
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	54.31	38.90	27.46	2.93	23.49	20.26	18.27	56.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.77	2.79	2.67	2.44	2.41	2.32	2.29	2.10	1.37	0.86
Long-Term Debt to Equity	2.74	2.76	2.59	2.41	2.38	2.28	2.26	2.07	1.35	0.85
Financial Leverage	1.89	2.66	2.60	2.56	2.52	1.94	2.42	2.20	1.72	1.01
Leverage Ratio	4.60	5.45	5.32	5.29	5.22	5.18	4.99	4.76	4.07	3.72
Compound Leverage Factor	2.73	5.69	3.92	4.01	3.08	5.05	3.95	3.83	3.11	3.54
Debt to Total Capital	73.50%	73.61%	72.76%	70.96%	70.64%	69.89%	69.63%	67.70%	57.73%	46.15%
Short-Term Debt to Total Capital	0.84%	0.84%	2.14%	1.08%	0.66%	1.32%	1.10%	0.86%	0.79%	0.55%
Long-Term Debt to Total Capital	72.66%	72.77%	70.63%	69.88%	69.98%	68.57%	68.53%	66.84%	56.94%	45.61%
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	5.08%	5.10%	5.29%	5.48%	5.35%	5.47%	5.45%	5.95%	7.08%	8.51%
Common Equity to Total Capital	21.42%	21.29%	21.94%	23.56%	24.01%	24.65%	24.93%	26.35%	35.19%	45.33%
Debt to EBITDA	6.30	10.99	5.88	5.38	5.06	7.63	4.71	4.48	3.82	3.60
Net Debt to EBITDA	6.13	10.72	5.75	5.24	4.96	7.52	4.60	4.34	3.59	3.48
Long-Term Debt to EBITDA	6.23	10.87	5.71	5.30	5.01	7.49	4.64	4.42	3.77	3.56
Debt to NOPAT	11.56	50.97	11.29	10.10	9.11	17.29	8.18	7.87	6.74	8.58
Net Debt to NOPAT	11.23	49.68	11.05	9.82	8.92	17.04	7.98	7.63	6.33	8.28
Long-Term Debt to NOPAT	11.42	50.39	10.96	9.94	9.02	16.96	8.05	7.77	6.65	8.48
Altman Z-Score	1.24	0.81	1.34	1.44	1.37	0.85	1.50	1.56	1.61	1.40
Noncontrolling Interest Sharing Ratio	32.98%	0.00%	19.32%	19.58%	18.68%	0.00%	18.63%	18.64%	17.34%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.02	1.10	1.11	1.10	1.09	1.01	1.22	1.09	1.13	1.04
Quick Ratio	0.85	0.90	0.91	0.90	0.88	0.62	1.04	0.95	1.00	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-345	-429	-94	-47	-48	1,554	16	69	71	-279
Operating Cash Flow to CapEx	225.01%	22.70%	87.36%	394.59%	231.76%	296.09%	-126.99%	500.74%	357.06%	197.75%
Free Cash Flow to Firm to Interest Expense	-7.63	-27.30	-1.93	-0.97	-0.74	245.58	0.31	1.86	1.06	-87.20
Operating Cash Flow to Interest Expense	2.09	0.80	1.06	4.79	1.79	28.37	-1.31	7.50	2.73	39.17
Operating Cash Flow Less CapEx to Interest Expense	1.16	-2.72	-0.15	3.58	1.02	18.79	-2.35	6.00	1.96	19.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.82	0.61	0.84	0.85	0.86	0.63	0.87	0.88	0.89	0.78
Accounts Receivable Turnover	6.98	5.04	6.60	6.88	7.11	5.80	6.37	6.73	6.95	6.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.67	4.70	6.60	6.62	6.71	5.23	6.75	6.75	6.81	6.04
Accounts Payable Turnover	27.98	20.01	27.23	26.99	29.16	9.54	11.34	10.45	10.63	6.25
Days Sales Outstanding (DSO)	52.27	72.48	55.29	53.05	51.35	62.98	57.32	54.24	52.49	54.38
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	13.04	18.24	13.41	13.52	12.52	38.28	32.18	34.93	34.34	58.42
Cash Conversion Cycle (CCC)	39.23	54.24	41.89	39.53	38.83	24.70	25.14	19.31	18.15	-4.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,064	5,202	5,260	5,217	5,215	3,527	5,392	5,265	5,251	3,649
Invested Capital Turnover	1.30	0.91	1.24	1.26	1.28	1.11	1.27	1.31	1.33	1.45
Increase / (Decrease) in Invested Capital	409	309	210	169	151	-1,675	132	49	35	122
Enterprise Value (EV)	6,631	5,724	7,280	7,903	7,092	5,517	7,862	8,391	7,869	4,408
Market Capitalization	2,683	1,674	3,201	3,962	3,156	1,631	3,837	4,542	4,534	2,440
Book Value per Share	$8.78	$8.84	$9.20	$9.80	$9.97	$10.05	$10.52	$10.89	$14.73	$12.99
Tangible Book Value per Share	($21.70)	($21.37)	($20.92)	($20.35)	($20.24)	($8.58)	($19.03)	($18.66)	($15.02)	($5.82)
Total Capital	5,162	5,270	5,334	5,289	5,281	5,227	5,485	5,377	5,442	3,709
Total Debt	3,794	3,880	3,881	3,753	3,730	3,653	3,819	3,640	3,142	1,712
Total Long-Term Debt	3,750	3,835	3,767	3,695	3,695	3,584	3,759	3,594	3,099	1,692
Net Debt	3,686	3,782	3,797	3,651	3,653	3,601	3,726	3,529	2,950	1,652
Capital Expenditures (CapEx)	42	55	59	60	50	61	53	56	51	63
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-44	63	158	72	68	25	224	43	9.81	2.70
Debt-free Net Working Capital (DFNWC)	64	161	242	173	145	78	316	155	201	62
Net Working Capital (NWC)	21	116	128	116	110	9.18	256	108	158	42
Net Nonoperating Expense (NNE)	26	-158	31	29	42	-183	31	23	25	-161
Net Nonoperating Obligations (NNO)	3,696	3,811	3,807	3,681	3,665	1,953	3,726	3,529	2,950	1,652
Total Depreciation and Amortization (D&A)	52	53	53	51	53	55	55	55	51	46
Debt-free, Cash-free Net Working Capital to Revenue	-0.70%	1.36%	2.47%	1.11%	1.03%	0.53%	3.29%	0.63%	0.14%	0.05%
Debt-free Net Working Capital to Revenue	1.01%	3.48%	3.78%	2.67%	2.20%	1.62%	4.66%	2.25%	2.89%	1.20%
Net Working Capital to Revenue	0.32%	2.52%	2.00%	1.79%	1.67%	0.19%	3.77%	1.57%	2.27%	0.81%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.21	$0.22	$0.56	$0.61	$0.38	$0.36	$0.75	$0.60	$0.43	($0.12)
Adjusted Weighted Average Basic Shares Outstanding	126.98M	127.17M	127.13M	127.14M	128.21M	128.36M	130.03M	130.02M	129.47M	128.96M
Adjusted Diluted Earnings per Share	$0.21	$0.22	$0.56	$0.61	$0.38	$0.36	$0.75	$0.60	$0.43	($0.12)
Adjusted Weighted Average Diluted Shares Outstanding	126.98M	127.17M	127.13M	127.14M	128.21M	128.36M	130.03M	130.02M	129.47M	128.96M
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	126.98M	127.17M	127.13M	127.14M	128.21M	128.36M	130.03M	130.02M	129.47M	128.96M
Normalized Net Operating Profit after Tax (NOPAT)	64	-120	116	121	103	-121	148	118	106	-157
Normalized NOPAT Margin	4.09%	0.00%	6.96%	7.24%	6.20%	0.00%	8.27%	6.69%	6.02%	0.00%
Pre Tax Income Margin	3.47%	0.00%	6.69%	7.21%	4.60%	0.00%	8.59%	7.22%	6.12%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.02	-10.93	3.12	3.25	2.00	-27.41	3.82	4.25	2.13	-70.14
NOPAT to Interest Expense	1.42	-7.65	2.39	2.47	1.59	-19.19	2.91	3.17	1.60	-49.10
EBIT Less CapEx to Interest Expense	1.10	-14.45	1.91	2.03	1.23	-36.99	2.79	2.76	1.36	-89.95
NOPAT Less CapEx to Interest Expense	0.49	-11.17	1.17	1.26	0.82	-28.77	1.88	1.68	0.83	-68.91
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	56.84%	54.38%	46.00%	44.33%	43.92%	42.52%	39.94%	36.53%	30.73%	42.00%
Augmented Payout Ratio	439.72%	156.09%	46.00%	53.93%	50.76%	48.86%	39.94%	42.18%	38.03%	54.78%

Frequently Asked Questions About Select Medical's Financials

When does Select Medical's fiscal year end?

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

How has Select Medical's net income changed over the last 9 years?

Select Medical's net income appears to be on an upward trend, with a most recent value of $296.70 million in 2024, rising from $136.00 million in 2015. The previous period was $299.73 million in 2023. View Select Medical's forecast to see where analysts expect Select Medical to go next.

What is Select Medical's operating income?

Select Medical's total operating income in 2024 was $268.32 million, based on the following breakdown:

Total Gross Profit: $633.64 million
Total Operating Expenses: $365.33 million

How has Select Medical revenue changed over the last 9 years?

Over the last 9 years, Select Medical's total revenue changed from $3.74 billion in 2015 to $5.19 billion in 2024, a change of 38.6%.

How much debt does Select Medical have?

Select Medical's total liabilities were at $3.61 billion at the end of 2024, a 41.0% decrease from 2023, and a 11.4% increase since 2015.

How much cash does Select Medical have?

In the past 9 years, Select Medical's cash and equivalents has ranged from $14.44 million in 2015 to $577.06 million in 2020, and is currently $59.69 million as of their latest financial filing in 2024.

How has Select Medical's book value per share changed over the last 9 years?

Over the last 9 years, Select Medical's book value per share changed from 6.55 in 2015 to 12.99 in 2024, a change of 98.3%.

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This page (NYSE:SEM) was last updated on 5/5/2025 by MarketBeat.com Staff

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Select Medical (SEM) Financials

Frequently Asked Questions About Select Medical's Financials

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Select Medical (SEM) Financials

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