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Select Medical (SEM) Financials

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$16.43 +0.03 (+0.15%)
As of 03:49 PM Eastern
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Annual Income Statements for Select Medical

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 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
Net Income / (Loss) Attributable to Common Shareholders		 131 115 177 138 148 259 402 159 243 214 146
Consolidated Net Income / (Loss)		 136 125 221 177 201 345 500 198 300 297 215
Net Income / (Loss) Continuing Operations		 136 125 221 177 201 345 500 19 110 130 215
Total Pre-Tax Income 		208 181 202 236 265 456 630 35 140 175 273
Total Operating Income		 275 300 356 417 472 568 714 145 267 268 336
Total Gross Profit		 472 552 630 740 813 821 919 401 572 634 629
Total Revenue		 3,743 4,217 4,365 5,081 5,454 5,532 6,205 4,609 4,826 5,187 5,453
Operating Revenue		 3,743 4,217 4,365 5,081 5,454 5,532 6,205 4,609 4,826 5,187 5,453
Total Cost of Revenue		 3,271 3,665 3,735 4,341 4,641 4,710 5,285 4,208 4,254 4,553 4,824
Operating Cost of Revenue		 3,212 3,665 3,735 4,341 4,641 4,710 5,285 4,208 4,254 4,553 4,824
Total Operating Expenses		 197 252 274 323 341 254 206 257 304 365 293
Selling, General & Admin Expense		 92 107 114 121 128 138 147 153 170 226 154
Depreciation Expense		 105 145 160 202 213 206 203 132 136 143 140
Other Operating Expenses / (Income)		 - - - 0.00 0.00 -90 -144 -28 -1.52 -3.41 -1.59
Total Other Income / (Expense), net		 -66 -119 -153 -182 -207 -111 -84 -109 -128 -94 -63
Interest Expense		 113 182 174 213 239 153 136 137 169 157 118
Interest & Investment Income		 17 20 21 22 25 29 50 28 41 64 55
Income Tax Expense		 72 55 -18 59 64 112 130 17 29 45 58
Net Income / (Loss) Discontinued Operations		 - - - - - - - 179 189 167 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 5.26 9.86 43 39 53 86 98 39 56 83 68
Basic Earnings per Share		 $1.00 $0.88 $1.33 $1.02 $1.10 $1.93 $2.98 $1.23 $1.91 $1.66 $1.16
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 124.02M
Diluted Earnings per Share		 $0.99 $0.87 $1.33 $1.02 $1.10 $1.93 $2.98 $1.23 $1.91 $1.66 $1.16
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 124.02M
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 124.02M
Cash Dividends to Common per Share		 $0.10 $0.00 $0.00 - - - $0.38 $0.50 $0.50 $0.50 $0.25

Quarterly Income Statements for Select Medical

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 48 46 97 78 56 -16 57 41 29 20 44
Consolidated Net Income / (Loss)		 61 62 117 95 81 3.76 75 58 44 38 64
Net Income / (Loss) Continuing Operations		 61 -127 62 38 41 -163 75 58 44 38 64
Total Pre-Tax Income 		77 -169 88 56 46 -214 96 70 56 50 82
Total Operating Income		 130 -173 118 74 55 -225 113 87 73 64 98
Total Gross Profit		 223 -149 201 160 136 -159 181 155 147 146 175
Total Revenue		 1,666 -179 1,321 1,282 1,272 -123 1,353 1,340 1,363 1,397 1,421
Operating Revenue		 1,666 -179 1,321 1,282 1,272 -123 1,353 1,340 1,363 1,397 1,421
Total Cost of Revenue		 1,443 -31 1,121 1,122 1,136 37 1,173 1,184 1,216 1,251 1,246
Operating Cost of Revenue		 1,443 -31 1,121 1,122 1,136 37 1,173 1,184 1,216 1,251 1,246
Total Operating Expenses		 93 25 82 86 81 65 68 69 74 82 77
Selling, General & Admin Expense		 41 44 48 50 47 80 33 36 40 46 39
Depreciation Expense		 52 -19 36 36 35 -15 35 35 34 36 38
Total Other Income / (Expense), net		 -53 4.40 -30 -18 -9.25 11 -17 -16 -17 -13 -16
Interest Expense		 65 6.33 41 28 42 3.20 29 30 30 29 28
Interest & Investment Income		 12 11 10 9.99 33 14 13 14 13 15 12
Income Tax Expense		 16 -42 27 18 4.37 -51 21 12 12 13 18
Net Income / (Loss) Attributable to Noncontrolling Interest		 13 16 20 17 25 20 18 17 15 18 20
Basic Earnings per Share		 $0.38 $0.36 $0.75 $0.60 $0.43 ($0.12) $0.44 $0.32 $0.23 $0.17 $0.35
Weighted Average Basic Shares Outstanding		 128.21M 128.36M 130.03M 130.02M 129.47M 128.96M 128.54M 123.99M 123.82M 124.02M 124.02M
Diluted Earnings per Share		 $0.38 $0.36 $0.75 $0.60 $0.43 ($0.12) $0.44 $0.32 $0.23 $0.17 $0.35
Weighted Average Diluted Shares Outstanding		 128.21M 128.36M 130.03M 130.02M 129.47M 128.96M 128.54M 123.99M 123.82M 124.02M 124.02M
Weighted Average Basic & Diluted Shares Outstanding		 128.21M 128.36M 130.03M 130.02M 129.47M 128.96M 128.54M 123.99M 123.82M 124.02M 124.02M
Cash Dividends to Common per Share		 $0.13 - $0.13 $0.13 $0.13 - $0.06 $0.06 $0.06 - $0.06

Annual Cash Flow Statements for Select Medical

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 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
Net Change in Cash & Equivalents		 22 85 24 53 161 241 -503 24 -14 -24 -33
Net Cash From Operating Activities		 417 347 238 494 445 1,028 401 285 582 518 346
Net Cash From Continuing Operating Activities		 419 347 238 494 445 1,028 401 285 582 518 346
Net Income / (Loss) Continuing Operations		 272 125 221 177 201 345 500 198 300 297 215
Consolidated Net Income / (Loss)		 272 125 221 177 201 345 500 198 300 297 215
Depreciation Expense		 210 145 160 202 213 206 203 206 209 204 140
Amortization Expense		 19 16 11 13 12 2.18 2.22 2.27 2.65 2.96 3.14
Non-Cash Adjustments To Reconcile Net Income		 84 -14 16 11 41 412 -302 -53 28 102 18
Changes in Operating Assets and Liabilities, net		 -166 74 -169 92 -21 64 -1.23 -68 43 -88 -29
Net Cash From Investing Activities		 -2,424 -554 -193 -697 -317 -115 -257 -226 -268 -231 -216
Net Cash From Continuing Investing Activities		 -2,427 -554 -193 -697 -317 -115 -257 -226 -268 -231 -216
Purchase of Property, Plant & Equipment		 -365 -162 -233 -167 -157 -146 -181 -190 -229 -222 -229
Acquisitions		 -2,128 -477 -40 -537 -160 -52 -103 -44 -39 -13 -11
Divestitures		 66 84 80 6.76 0.19 83 27 8.34 0.16 4.26 23
Net Cash From Financing Activities		 2,029 292 -22 256 32 -672 -647 -35 -327 -311 -163
Net Cash From Continuing Financing Activities		 2,028 291 -22 256 32 -672 -647 -35 -327 -311 -163
Repayment of Debt		 -1,885 -1,114 -2,164 -843 -3,079 -558 -40 -871 -3,231 -4,811 -1,340
Repurchase of Common Equity		 -16 -2.93 -4.75 -6.84 -39 -592 -740 -201 -19 -38 -100
Payment of Dividends		 396 -3.74 -11 -312 -22 -39 -124 -108 -127 -125 -121
Issuance of Debt		 3,517 1,398 2,156 1,417 3,177 510 193 1,146 3,029 4,833 1,391
Issuance of Common Equity		 - - 9.98 2.93 18 7.56 21 9.53 23 16 16
Other Financing Activities, net		 15 14 -7.88 -2.66 -24 0.00 42 -10 -1.69 -187 -9.05
Cash Interest Paid		 - 143 149 193 183 155 132 183 272 256 121
Cash Income Taxes Paid		 159 71 65 48 71 109 181 32 89 133 26

Quarterly Cash Flow Statements for Select Medical

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 -24 6.57 8.61 19 80 -132 -6.48 -0.86 7.71 -34 -0.84
Net Cash From Operating Activities		 116 179 -67 278 181 125 -3.46 110 175 64 38
Net Cash From Continuing Operating Activities		 116 179 -67 278 181 125 -3.46 110 175 64 38
Net Income / (Loss) Continuing Operations		 61 62 117 95 81 3.76 75 58 44 38 64
Consolidated Net Income / (Loss)		 61 62 117 95 81 3.76 75 58 44 38 64
Depreciation Expense		 52 54 54 54 50 46 35 35 34 36 38
Amortization Expense		 0.73 0.75 0.75 0.74 0.79 0.68 0.78 0.79 0.78 0.78 0.78
Non-Cash Adjustments To Reconcile Net Income		 1.51 15 14 9.39 7.66 70 14 -6.74 11 -0.37 7.82
Changes in Operating Assets and Liabilities, net		 0.90 48 -253 119 41 4.89 -128 24 85 -10 -72
Net Cash From Investing Activities		 -63 -70 -58 -54 -45 -74 -52 -65 -33 -67 -57
Net Cash From Continuing Investing Activities		 -63 -70 -58 -54 -45 -74 -52 -65 -33 -67 -57
Purchase of Property, Plant & Equipment		 -50 -61 -53 -56 -51 -63 -52 -65 -53 -59 -59
Acquisitions		 -13 -9.08 -5.41 -0.59 3.68 -11 0.00 - -1.60 -9.05 0.03
Divestitures		 0.00 0.10 0.27 2.07 1.91 0.02 0.02 0.02 - - 2.21
Net Cash From Financing Activities		 -77 -103 133 -206 -56 -183 49 -46 -135 -31 18
Net Cash From Continuing Financing Activities		 -77 -103 133 -206 -56 -183 49 -46 -135 -31 18
Repayment of Debt		 -2,326 -344 -353 -399 -2,223 -1,835 -340 -307 -312 -381 -238
Repurchase of Common Equity		 -9.54 -7.98 0.00 - -17 -20 -11 -86 -1.97 -0.54 0.00
Payment of Dividends		 -47 -25 -29 -22 -34 -40 -23 -23 -27 -49 -22
Issuance of Debt		 2,301 271 513 220 1,712 1,877 421 370 220 380 269
Issuance of Common Equity		 5.65 2.47 4.00 1.75 515 -505 7.94 2.96 2.06 2.94 5.95
Other Financing Activities, net		 -1.50 0.28 -1.74 -4.91 -9.45 341 -5.12 -4.18 -17 17 2.64
Cash Interest Paid		 88 51 89 53 75 39 24 38 22 37 18
Cash Income Taxes Paid		 36 10 0.60 60 42 30 1.47 20 1.07 3.90 3.91

Annual Balance Sheets for Select Medical

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 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		 4,389 4,921 5,127 5,964 7,340 7,655 7,360 7,665 7,690 5,608 5,852
Total Current Assets		 749 763 921 993 1,213 1,594 1,139 1,271 1,258 1,020 1,025
Cash & Equivalents		 14 99 123 175 336 577 74 98 53 60 27
Accounts Receivable		 604 574 692 707 763 897 889 941 724 821 864
Current Deferred & Refundable Income Taxes		 45 12 31 21 19 5.69 56 32 15 27 20
Other Current Assets		 86 78 75 90 96 114 120 200 175 112 115
Plant, Property, & Equipment, net		 864 892 913 980 998 943 961 1,001 845 872 992
Total Noncurrent Assets		 2,775 3,266 3,294 3,992 5,129 5,118 5,259 5,393 5,587 3,716 3,834
Goodwill		 2,315 2,751 2,783 3,321 3,392 3,379 3,449 3,484 2,283 2,332 2,361
Intangible Assets		 319 341 327 438 409 388 375 352 105 103 101
Other Noncurrent Operating Assets		 142 174 184 234 1,328 1,351 1,435 1,557 1,159 1,281 1,372
Total Liabilities & Shareholders' Equity		 4,389 4,921 5,127 5,964 7,340 7,655 7,360 7,665 7,690 5,608 5,852
Total Liabilities		 3,242 3,593 3,554 4,268 5,437 6,004 5,995 6,275 6,116 3,611 3,816
Total Current Liabilities		 729 572 605 705 914 1,438 1,273 1,155 1,248 978 984
Short-Term Debt		 225 14 22 44 25 13 18 44 69 20 24
Accounts Payable		 137 127 128 147 146 177 234 187 706 752 755
Other Current Liabilities		 29 39 29 25 208 542 355 269 203 205 205
Total Noncurrent Liabilities		 2,513 3,021 2,948 3,562 4,522 4,566 4,722 5,120 4,867 2,633 2,831
Long-Term Debt		 2,161 2,685 2,678 3,250 3,420 3,389 3,556 3,835 3,584 1,692 1,804
Noncurrent Deferred & Payable Income Tax Liabilities		 219 199 125 154 148 132 143 170 120 81 112
Other Noncurrent Operating Liabilities		 133 137 146 159 954 1,044 1,023 1,115 751 860 915
Commitments & Contingencies		 0.00 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 19
Total Equity & Noncontrolling Interests		 909 906 933 916 929 1,253 1,326 1,357 1,548 1,987 2,017
Total Preferred & Common Equity		 859 816 823 803 771 1,060 1,110 1,122 1,288 1,681 1,706
Total Common Equity		 859 816 823 803 771 1,060 1,110 1,122 1,288 1,681 1,706
Common Stock		 425 444 464 483 491 509 504 452 494 911 875
Retained Earnings		 435 372 360 320 280 553 593 581 752 770 837
Accumulated Other Comprehensive Income / (Loss)		 - - - - 0.00 -2.03 12 89 43 0.00 -6.40
Noncontrolling Interest		 49 90 109 113 158 192 216 235 259 306 311

Quarterly Balance Sheets for Select Medical

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 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 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
Total Assets		 7,555 7,700 7,702 7,684 7,858 7,875 8,003 5,696 5,742 5,686 6,042
Total Current Assets		 1,217 1,314 1,304 1,276 1,440 1,365 1,404 1,092 1,081 1,020 1,112
Cash & Equivalents		 108 84 101 77 93 111 191 53 52 60 26
Accounts Receivable		 909 997 965 944 1,135 1,078 1,060 908 909 826 949
Current Deferred & Refundable Income Taxes		 19 17 17 23 9.03 8.45 8.67 6.57 7.22 11 12
Other Current Assets		 181 216 222 232 204 167 144 124 112 124 125
Plant, Property, & Equipment, net		 957 987 1,004 1,007 1,025 1,031 1,040 895 922 903 997
Total Noncurrent Assets		 5,380 5,399 5,393 5,401 5,393 5,480 5,558 3,709 3,740 3,762 3,933
Goodwill		 3,479 3,485 3,486 3,505 3,517 3,525 3,555 2,332 2,332 2,333 2,378
Intangible Assets		 358 347 347 337 324 317 313 103 102 101 100
Other Noncurrent Operating Assets		 1,543 1,568 1,560 1,560 1,552 1,637 1,690 1,274 1,306 1,327 1,455
Total Liabilities & Shareholders' Equity		 7,555 7,700 7,702 7,684 7,858 7,875 8,003 5,696 5,742 5,686 6,042
Total Liabilities		 6,187 6,247 6,166 6,134 6,192 6,139 5,702 3,650 3,743 3,666 3,936
Total Current Liabilities		 1,197 1,186 1,188 1,166 1,184 1,257 1,246 945 939 940 970
Short-Term Debt		 43 114 57 35 60 46 43 28 20 29 25
Accounts Payable		 207 174 187 183 850 939 939 714 720 727 746
Other Current Liabilities		 269 271 273 273 274 272 264 202 199 184 199
Total Noncurrent Liabilities		 4,990 5,061 4,978 4,968 5,008 4,882 4,457 2,705 2,804 2,726 2,966
Long-Term Debt		 3,750 3,767 3,695 3,695 3,759 3,594 3,099 1,767 1,840 1,743 1,836
Noncurrent Deferred & Payable Income Tax Liabilities		 162 163 156 147 134 98 96 75 73 88 118
Other Noncurrent Operating Liabilities		 1,078 1,131 1,126 1,125 1,115 1,190 1,262 863 891 895 1,012
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 34 34 34 27 28 30 30 9.02 8.49 8.65 21
Total Equity & Noncontrolling Interests		 1,335 1,418 1,502 1,523 1,638 1,707 2,270 2,037 1,991 2,011 2,085
Total Preferred & Common Equity		 1,106 1,170 1,246 1,268 1,367 1,417 1,915 1,719 1,667 1,689 1,756
Total Common Equity		 1,106 1,170 1,246 1,268 1,367 1,417 1,915 1,719 1,667 1,689 1,756
Common Stock		 445 462 474 482 506 519 859 909 867 871 889
Retained Earnings		 570 635 697 723 831 891 1,056 814 805 825 872
Accumulated Other Comprehensive Income / (Loss)		 91 73 75 63 31 5.78 0.00 -3.11 -5.16 -6.24 -5.38
Noncontrolling Interest		 229 248 256 256 270 290 355 318 324 322 329

Annual Metrics And Ratios for Select Medical

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 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
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 22.11% 12.68% 3.50% 16.40% 7.33% 1.43% 12.16% -25.71% 4.70% 7.48% 5.12%
EBITDA Growth		 48.03% -5.63% 4.67% 21.65% 9.59% 12.15% 16.87% -61.68% 35.65% -0.72% 0.93%
EBIT Growth		 7.02% 12.50% 3.89% 19.80% 12.23% 21.24% 23.43% -79.78% 84.62% 0.40% 25.29%
NOPAT Growth		 0.21% 15.92% 86.62% -19.18% 14.31% 19.60% 32.23% -86.57% 177.59% -5.55% 32.50%
Net Income Growth		 6.10% -7.89% 76.14% -19.81% 13.61% 71.42% 45.08% -60.39% 51.36% -1.01% -27.69%
EPS Growth		 8.79% -12.12% 52.87% -23.31% 7.84% 75.45% 54.40% -58.72% 55.28% -13.09% -30.12%
Operating Cash Flow Growth		 144.27% -16.85% -31.30% 107.53% -9.92% 130.93% -60.97% -29.01% 104.36% -11.03% -33.10%
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% -1.71%
Invested Capital Growth		 50.33% 11.98% 5.58% 15.74% 4.55% -10.73% 8.62% 6.30% -32.20% 3.46% 5.16%
Revenue Q/Q Growth		 7.70% -1.44% -18.26% 0.18% 33.31% 1.58% 1.63% -26.98% -26.73% -25.56% 1.57%
EBITDA Q/Q Growth		 71.92% -18.12% -12.45% 1.20% 23.09% 6.51% -8.29% -41.36% -35.05% -42.22% 7.49%
EBIT Q/Q Growth		 12.62% -0.29% -17.73% -1.24% 38.54% 9.57% -10.46% -63.26% -49.34% -55.81% 14.61%
NOPAT Q/Q Growth		 3.35% -1.55% 39.34% -33.78% 43.28% 8.56% -6.18% -76.81% -48.41% -57.18% 12.37%
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% 18.82%
EPS Q/Q Growth		 2.06% -8.42% 84.72% -35.85% 5.77% 0.00% 0.00% 0.00% 7.91% -22.43% 33.33%
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% -14.99%
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% -95.65%
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% 2.83%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 12.61% 13.09% 14.43% 14.57% 14.91% 14.85% 14.82% 8.71% 11.84% 12.22% 11.54%
EBITDA Margin		 14.25% 11.94% 12.07% 12.62% 12.88% 14.24% 14.84% 7.66% 9.92% 9.16% 8.80%
Operating Margin		 7.34% 7.11% 8.15% 8.21% 8.65% 10.26% 11.50% 3.14% 5.54% 5.17% 6.17%
EBIT Margin		 8.13% 8.12% 8.15% 8.39% 8.77% 10.49% 11.54% 3.14% 5.54% 5.17% 6.17%
Profit (Net Income) Margin		 3.63% 2.97% 5.05% 3.48% 3.69% 6.23% 8.06% 4.30% 6.21% 5.72% 3.93%
Tax Burden Percent		 65.25% 69.31% 108.98% 75.12% 75.93% 75.49% 79.39% 561.49% 214.52% 169.77% 78.66%
Interest Burden Percent		 68.46% 52.77% 56.90% 55.26% 55.34% 78.70% 87.96% 24.36% 52.28% 65.14% 81.13%
Effective Tax Rate		 34.75% 30.69% -8.98% 24.88% 24.07% 24.51% 20.61% 47.42% 20.94% 25.62% 21.34%
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% 7.06%
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% 4.18%
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% 3.58%
Return on Equity (ROE)		 14.07% 10.12% 15.21% 10.82% 11.17% 19.39% 33.15% 14.37% 20.22% 16.62% 10.64%
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% 2.04%
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% 5.87%
Return on Assets (ROA)		 3.72% 2.69% 4.39% 3.19% 3.02% 4.60% 6.66% 2.64% 3.90% 4.46% 3.74%
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% 8.94%
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% 0.00%
Net Operating Profit after Tax (NOPAT)		 179 208 388 313 358 429 567 76 211 200 264
NOPAT Margin		 4.79% 4.93% 8.88% 6.17% 6.57% 7.75% 9.13% 1.65% 4.38% 3.85% 4.85%
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% 2.89%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 1.45% 4.06% 5.40% 6.88%
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% 88.46%
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% 2.83%
R&D to Revenue		 0.00% 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% 5.38%
Earnings before Interest and Taxes (EBIT)		 304 342 356 426 478 580 716 145 267 268 336
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 533 503 527 641 703 788 921 353 479 475 480
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 1.08
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 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 0.34
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 12.57
Dividend Yield		 3.57% 0.00% 0.00% 0.00% 0.00% 0.00% 1.34% 3.79% 3.93% 95.12% 119.06%
Earnings Yield		 8.90% 7.00% 7.98% 7.06% 5.04% 7.39% 10.73% 9.50% 14.93% 8.77% 7.95%
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 1.03
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 0.73
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 8.28
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 11.81
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 15.02
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 11.46
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 52.09
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 0.90
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 0.89
Financial Leverage		 2.04 2.02 1.80 1.75 1.74 1.69 2.12 2.66 1.94 1.01 0.86
Leverage Ratio		 3.78 3.76 3.46 3.39 3.70 4.22 4.98 5.45 5.18 3.72 2.84
Compound Leverage Factor		 2.59 1.99 1.97 1.87 2.05 3.32 4.38 1.33 2.71 2.43 2.31
Debt to Total Capital		 67.54% 67.02% 63.18% 66.00% 64.41% 67.32% 72.36% 73.61% 69.89% 46.15% 47.31%
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% 0.63%
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% 46.69%
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% 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% 8.54%
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% 44.14%
Debt to EBITDA		 4.47 5.36 5.12 5.14 4.90 4.32 3.88 10.99 7.63 3.60 3.81
Net Debt to EBITDA		 4.45 5.16 4.89 4.86 4.43 3.59 3.80 10.72 7.52 3.48 3.76
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 3.76
Debt to NOPAT		 13.31 12.99 6.96 10.51 9.61 7.94 6.31 50.97 17.29 8.58 6.91
Net Debt to NOPAT		 13.23 12.51 6.65 9.95 8.68 6.59 6.18 49.68 17.04 8.28 6.81
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 6.82
Altman Z-Score		 1.50 1.51 1.63 1.50 1.39 1.45 1.63 0.95 1.04 1.69 1.62
Noncontrolling Interest Sharing Ratio		 17.29% 32.32% 43.51% 50.27% 56.28% 48.48% 28.04% 19.00% 18.70% 16.84% 16.02%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.03 1.33 1.52 1.41 1.33 1.11 0.90 1.10 1.01 1.04 1.04
Quick Ratio		 0.85 1.18 1.35 1.25 1.20 1.02 0.76 0.90 0.62 0.90 0.90
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,002 -215 168 -343 139 970 178 -232 1,886 78 76
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% 151.15%
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 0.65
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 2.94
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 0.99
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.02 0.91 0.87 0.92 0.82 0.74 0.83 0.61 0.63 0.78 0.95
Accounts Receivable Turnover		 7.14 7.16 6.90 7.27 7.42 6.67 6.95 5.04 5.80 6.71 6.47
Inventory Turnover		 0.00 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 5.85
Accounts Payable Turnover		 26.60 27.77 29.33 31.58 31.74 29.18 25.72 20.01 9.54 6.25 6.40
Days Sales Outstanding (DSO)		 51.09 50.95 52.91 50.23 49.17 54.75 52.54 72.48 62.98 54.38 56.41
Days Inventory Outstanding (DIO)		 0.00 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 57.02
Cash Conversion Cycle (CCC)		 37.37 37.80 40.46 38.67 37.67 42.24 38.35 54.24 24.70 -4.04 -0.61
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 3,837
Invested Capital Turnover		 1.27 1.13 1.08 1.13 1.10 1.16 1.32 0.91 1.11 1.45 1.46
Increase / (Decrease) in Invested Capital		 1,181 423 220 656 220 -541 388 309 -1,675 122 188
Enterprise Value (EV)		 4,128 4,761 5,548 5,965 7,190 6,921 7,502 5,724 5,517 4,408 3,971
Market Capitalization		 1,469 1,649 2,221 1,953 2,948 3,505 3,747 1,674 1,631 2,440 1,839
Book Value per Share		 $6.55 $6.16 $6.15 $5.93 $5.74 $7.87 $8.27 $8.84 $10.05 $12.99 $13.78
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) ($6.11)
Total Capital		 3,533 4,027 4,273 4,990 5,349 5,053 4,939 5,270 5,227 3,709 3,864
Total Debt		 2,386 2,699 2,700 3,293 3,445 3,402 3,574 3,880 3,653 1,712 1,828
Total Long-Term Debt		 2,161 2,685 2,678 3,250 3,420 3,389 3,556 3,835 3,584 1,692 1,804
Net Debt		 2,371 2,600 2,577 3,118 3,109 2,825 3,500 3,782 3,601 1,652 1,802
Capital Expenditures (CapEx)		 365 162 233 167 157 146 181 190 229 222 229
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 231 106 215 156 -12 -409 -190 63 25 2.70 38
Debt-free Net Working Capital (DFNWC)		 245 205 338 331 324 168 -116 161 78 62 65
Net Working Capital (NWC)		 20 191 315 287 299 156 -134 116 9.18 42 41
Net Nonoperating Expense (NNE)		 43 83 167 137 157 84 67 -122 -88 -97 50
Net Nonoperating Obligations (NNO)		 2,381 2,622 2,597 3,130 3,143 2,854 3,529 3,811 1,953 1,652 1,802
Total Depreciation and Amortization (D&A)		 229 161 171 215 224 208 205 208 211 207 143
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% 0.71%
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% 1.19%
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% 0.75%
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 $1.16
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 124.02M
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 $1.16
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 124.02M
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		 131.28M 132.68M 134.10M 135.26M 0.00 0.00 133.88M 127.17M 128.36M 128.96M 124.02M
Normalized Net Operating Profit after Tax (NOPAT)		 179 208 249 313 358 429 567 76 211 200 264
Normalized NOPAT Margin		 4.79% 4.93% 5.71% 6.17% 6.57% 7.75% 9.13% 1.65% 4.38% 3.85% 4.85%
Pre Tax Income Margin		 5.57% 4.29% 4.64% 4.64% 4.85% 8.25% 10.15% 0.77% 2.90% 3.37% 5.00%
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 2.85
NOPAT to Interest Expense		 1.59 1.14 2.22 1.47 1.50 2.80 4.17 0.55 1.25 1.27 2.24
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 0.91
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 0.30
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% 56.55%
Augmented Payout Ratio		 -279.35% 5.32% 6.97% 179.92% 30.00% 183.10% 172.78% 156.09% 48.86% 54.78% 103.20%

Quarterly Metrics And Ratios for Select Medical

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - - - - - 124,016,800.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 124,016,800.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.35
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.24% -25.42% 7.44% 5.08% 5.73% 31.60% 2.42% 4.51% 7.22% 6.41% 5.05%
EBITDA Growth		 27.58% 0.16% 21.69% 1.30% 4.91% -50.16% -14.40% -4.96% 2.23% 49.48% -7.74%
EBIT Growth		 42.08% -1.00% 28.07% -0.88% 8.60% -29.53% -4.83% 17.16% 32.90% 203.14% -12.71%
NOPAT Growth		 60.89% -1.00% 27.67% -2.82% 2.72% -29.53% 6.00% 43.41% 16.10% 223.89% -12.72%
Net Income Growth		 59.51% 63.87% 37.43% 3.16% 33.21% -93.92% -36.22% -38.92% -45.47% 904.85% -14.66%
EPS Growth		 80.95% 63.64% 33.93% -1.64% 13.16% -133.33% -41.33% -46.67% -46.51% 241.67% -20.45%
Operating Cash Flow Growth		 23.42% 1,330.50% -229.64% 18.44% 55.55% -30.10% 94.82% -60.35% -3.13% -48.72% 1,195.17%
Free Cash Flow Firm Growth		 86.06% 462.40% 116.97% 245.90% 246.99% -117.97% 3,524.64% 132,273.80% 10,968.82% -30.89% -104.49%
Invested Capital Growth		 2.99% -32.20% 2.51% 0.93% 0.68% 3.46% -29.74% -27.70% -28.92% 5.16% 4.02%
Revenue Q/Q Growth		 -0.53% -110.76% 7.83% -1.63% 0.09% -106.96% 1,203.85% -1.00% 1.78% 2.43% 1.78%
EBITDA Q/Q Growth		 -12.72% -164.81% 47.22% -14.59% -9.61% -192.76% 183.26% -17.64% -11.44% -6.71% 35.61%
EBIT Q/Q Growth		 -18.37% -233.41% 69.77% -18.65% -10.56% -259.13% 150.20% -23.25% -15.69% -12.37% 53.93%
NOPAT Q/Q Growth		 -14.79% -217.56% 54.31% -20.41% -9.94% -248.25% 155.72% -18.52% -19.25% -17.03% 59.89%
Net Income Q/Q Growth		 -33.79% 1.61% 89.60% -19.12% -14.51% -95.36% 1,889.67% -22.55% -23.67% -14.57% 68.98%
EPS Q/Q Growth		 -37.70% -5.26% 108.33% -20.00% -28.33% -127.91% 466.67% -27.27% -28.13% -26.09% 105.88%
Operating Cash Flow Q/Q Growth		 -50.46% 54.24% -137.16% 517.09% -34.94% -30.69% -102.76% 3,290.40% 58.95% -63.31% -41.14%
Free Cash Flow Firm Q/Q Growth		 -1.44% 3,332.44% -89.39% 334.29% 2.20% -495.25% 705.66% -9.53% 3.04% -108.91% 45.92%
Invested Capital Q/Q Growth		 -0.03% -32.37% 4.74% -2.35% -0.28% -30.50% 3.82% 0.48% -1.97% 2.83% 2.70%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 13.40% 0.00% 16.45% 14.87% 13.47% 0.00% 13.34% 11.60% 10.81% 10.44% 12.34%
EBITDA Margin		 10.99% 0.00% 13.91% 12.08% 10.91% 0.00% 10.96% 9.12% 7.93% 7.23% 9.63%
Operating Margin		 7.80% 0.00% 10.84% 8.97% 8.01% 0.00% 8.33% 6.46% 5.35% 4.58% 6.92%
EBIT Margin		 7.80% 0.00% 10.84% 8.97% 8.01% 0.00% 8.33% 6.46% 5.35% 4.58% 6.92%
Profit (Net Income) Margin		 3.65% 0.00% 6.55% 5.39% 4.60% 0.00% 5.52% 4.32% 3.24% 2.70% 4.49%
Tax Burden Percent		 79.44% -36.57% 76.27% 74.61% 75.14% -1.76% 77.70% 82.48% 78.99% 74.79% 77.69%
Interest Burden Percent		 58.91% 97.47% 79.20% 80.49% 76.40% 95.15% 85.31% 81.09% 76.66% 78.93% 83.41%
Effective Tax Rate		 20.56% 0.00% 23.73% 25.39% 24.86% 0.00% 22.30% 17.52% 21.01% 25.21% 22.31%
Return on Invested Capital (ROIC)		 7.94% 0.00% 10.54% 8.77% 8.02% 0.00% 7.36% 6.20% 5.05% 4.99% 7.68%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.79% 0.00% 9.72% 8.14% 7.26% 0.00% 6.89% 5.69% 4.48% 4.40% 6.97%
Return on Net Nonoperating Assets (RNNOA)		 17.13% 0.00% 23.49% 17.93% 12.47% 0.00% 10.15% 8.13% 4.83% 3.77% 6.01%
Return on Equity (ROE)		 25.07% 0.00% 34.03% 26.70% 20.49% 0.00% 17.51% 14.33% 9.88% 8.76% 13.69%
Cash Return on Invested Capital (CROIC)		 5.03% 43.22% 6.28% 7.90% 8.23% 2.16% 39.42% 37.19% 39.05% 2.04% 2.61%
Operating Return on Assets (OROA)		 6.74% 0.00% 9.46% 7.91% 7.12% 0.00% 6.42% 5.01% 4.20% 4.36% 6.51%
Return on Assets (ROA)		 3.16% 0.00% 5.72% 4.75% 4.09% 0.00% 4.25% 3.35% 2.54% 2.57% 4.22%
Return on Common Equity (ROCE)		 20.39% 0.00% 27.69% 21.73% 16.94% 0.00% 14.56% 11.83% 8.25% 7.36% 11.46%
Return on Equity Simple (ROE_SIMPLE)		 21.74% 0.00% 24.26% 23.62% 18.52% 0.00% 14.79% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 103 -121 148 118 106 -157 88 71 58 48 76
NOPAT Margin		 6.20% 0.00% 8.27% 6.69% 6.02% 0.00% 6.47% 5.33% 4.23% 3.42% 5.38%
Net Nonoperating Expense Percent (NNEP)		 1.15% -6.35% 0.82% 0.64% 0.76% -8.93% 0.47% 0.51% 0.58% 0.58% 0.71%
Return On Investment Capital (ROIC_SIMPLE)		 - -2.33% - - - -4.25% 2.29% 1.85% 1.52% 1.24% 1.94%
Cost of Revenue to Revenue		 86.60% 0.00% 83.55% 85.13% 86.53% 0.00% 86.66% 88.40% 89.19% 89.56% 87.66%
SG&A Expenses to Revenue		 2.48% 0.00% 2.71% 2.83% 2.69% 0.00% 2.44% 2.66% 2.94% 3.27% 2.77%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 5.60% 0.00% 5.60% 5.90% 5.46% 0.00% 5.01% 5.14% 5.46% 5.86% 5.42%
Earnings before Interest and Taxes (EBIT)		 130 -173 194 158 141 -225 113 87 73 64 98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 183 -119 249 212 192 -178 148 122 108 101 137
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.49 1.27 2.81 3.21 2.37 1.45 1.25 1.17 0.94 1.08 1.15
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 0.00
Price to Revenue (P/Rev)		 0.48 0.34 0.57 0.66 0.65 0.47 0.41 0.37 0.30 0.34 0.37
Price to Earnings (P/E)		 14.04 6.70 14.23 16.89 16.41 11.40 12.39 14.26 14.47 12.57 15.13
Dividend Yield		 2.01% 3.93% 1.67% 1.43% 1.43% 95.12% 106.99% 117.30% 138.19% 119.06% 1.53%
Earnings Yield		 7.12% 14.93% 7.03% 5.92% 6.10% 8.77% 8.07% 7.01% 6.91% 7.95% 6.61%
Enterprise Value to Invested Capital (EV/IC)		 1.36 1.56 1.46 1.59 1.50 1.21 1.11 1.07 0.97 1.03 1.07
Enterprise Value to Revenue (EV/Rev)		 1.08 1.14 1.16 1.22 1.13 0.85 0.81 0.78 0.68 0.73 0.76
Enterprise Value to EBITDA (EV/EBITDA)		 9.62 11.53 9.70 10.32 9.57 9.28 9.38 9.22 8.15 8.28 8.98
Enterprise Value to EBIT (EV/EBIT)		 13.44 20.64 13.16 14.08 12.96 16.43 16.08 14.86 12.39 11.81 13.07
Enterprise Value to NOPAT (EV/NOPAT)		 17.31 26.11 16.85 18.13 16.88 22.09 20.52 17.92 15.45 15.02 16.60
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.08 9.48 16.95 16.54 13.76 8.51 7.27 9.90 8.92 11.46 10.84
Enterprise Value to Free Cash Flow (EV/FCFF)		 27.46 2.93 23.49 20.26 18.27 56.85 2.33 2.43 2.07 52.09 41.67
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.41 2.32 2.29 2.10 1.37 0.86 0.88 0.93 0.88 0.90 0.88
Long-Term Debt to Equity		 2.38 2.28 2.26 2.07 1.35 0.85 0.86 0.92 0.86 0.89 0.87
Financial Leverage		 2.52 1.94 2.42 2.20 1.72 1.01 1.47 1.43 1.08 0.86 0.86
Leverage Ratio		 5.22 5.18 4.99 4.76 4.07 3.72 3.65 3.65 3.17 2.84 2.83
Compound Leverage Factor		 3.08 5.05 3.95 3.83 3.11 3.54 3.12 2.96 2.43 2.24 2.36
Debt to Total Capital		 70.64% 69.89% 69.63% 67.70% 57.73% 46.15% 46.74% 48.20% 46.73% 47.31% 46.91%
Short-Term Debt to Total Capital		 0.66% 1.32% 1.10% 0.86% 0.79% 0.55% 0.74% 0.53% 0.76% 0.63% 0.63%
Long-Term Debt to Total Capital		 69.98% 68.57% 68.53% 66.84% 56.94% 45.61% 46.00% 47.67% 45.97% 46.69% 46.27%
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% 0.00%
Noncontrolling Interests to Total Capital		 5.35% 5.47% 5.45% 5.95% 7.08% 8.51% 8.50% 8.61% 8.72% 8.54% 8.82%
Common Equity to Total Capital		 24.01% 24.65% 24.93% 26.35% 35.19% 45.33% 44.75% 43.20% 44.55% 44.14% 44.27%
Debt to EBITDA		 5.06 7.63 4.71 4.48 3.82 3.60 3.99 4.19 3.97 3.81 3.97
Net Debt to EBITDA		 4.96 7.52 4.60 4.34 3.59 3.48 3.87 4.07 3.84 3.76 3.92
Long-Term Debt to EBITDA		 5.01 7.49 4.64 4.42 3.77 3.56 3.93 4.14 3.91 3.76 3.92
Debt to NOPAT		 9.11 17.29 8.18 7.87 6.74 8.58 8.73 8.15 7.53 6.91 7.35
Net Debt to NOPAT		 8.92 17.04 7.98 7.63 6.33 8.28 8.47 7.92 7.28 6.81 7.24
Long-Term Debt to NOPAT		 9.02 16.96 8.05 7.77 6.65 8.48 8.59 8.06 7.41 6.82 7.25
Altman Z-Score		 1.37 0.85 1.50 1.56 1.61 1.40 1.57 1.51 1.47 1.47 1.51
Noncontrolling Interest Sharing Ratio		 18.68% 0.00% 18.63% 18.64% 17.34% 0.00% 16.85% 17.46% 16.57% 16.02% 16.30%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.09 1.01 1.22 1.09 1.13 1.04 1.16 1.15 1.09 1.04 1.15
Quick Ratio		 0.88 0.62 1.04 0.95 1.00 0.90 1.02 1.02 0.94 0.90 1.00
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -48 1,554 16 69 71 -279 1,691 1,530 1,576 -140 -76
Operating Cash Flow to CapEx		 231.76% 296.09% -126.99% 500.74% 357.06% 197.75% -6.61% 170.51% 330.13% 108.84% 64.28%
Free Cash Flow to Firm to Interest Expense		 -0.74 245.58 0.31 1.86 1.06 -87.20 58.17 51.04 52.51 -4.86 -2.68
Operating Cash Flow to Interest Expense		 1.79 28.37 -1.31 7.50 2.73 39.17 -0.12 3.68 5.84 2.23 1.34
Operating Cash Flow Less CapEx to Interest Expense		 1.02 18.79 -2.35 6.00 1.96 19.36 -1.92 1.52 4.07 0.18 -0.74
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.86 0.63 0.87 0.88 0.89 0.78 0.77 0.78 0.78 0.95 0.94
Accounts Receivable Turnover		 7.11 5.80 6.37 6.73 6.95 6.71 5.11 5.31 5.69 6.47 5.94
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 6.71 5.23 6.75 6.75 6.81 6.04 5.44 5.41 5.52 5.85 5.84
Accounts Payable Turnover		 29.16 9.54 11.34 10.45 10.63 6.25 5.89 5.63 5.70 6.40 6.71
Days Sales Outstanding (DSO)		 51.35 62.98 57.32 54.24 52.49 54.38 71.44 68.74 64.10 56.41 61.40
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 12.52 38.28 32.18 34.93 34.34 58.42 61.99 64.87 64.02 57.02 54.43
Cash Conversion Cycle (CCC)		 38.83 24.70 25.14 19.31 18.15 -4.04 9.45 3.87 0.09 -0.61 6.97
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,215 3,527 5,392 5,265 5,251 3,649 3,789 3,807 3,732 3,837 3,941
Invested Capital Turnover		 1.28 1.11 1.27 1.31 1.33 1.45 1.14 1.16 1.20 1.46 1.43
Increase / (Decrease) in Invested Capital		 151 -1,675 132 49 35 122 -1,604 -1,459 -1,519 188 152
Enterprise Value (EV)		 7,092 5,517 7,862 8,391 7,869 4,408 4,223 4,091 3,635 3,971 4,205
Market Capitalization		 3,156 1,631 3,837 4,542 4,534 2,440 2,154 1,951 1,592 1,839 2,020
Book Value per Share		 $9.97 $10.05 $10.52 $10.89 $14.73 $12.99 $13.33 $12.97 $13.62 $13.78 $14.16
Tangible Book Value per Share		 ($20.24) ($8.58) ($19.03) ($18.66) ($15.02) ($5.82) ($5.54) ($5.97) ($6.01) ($6.11) ($5.82)
Total Capital		 5,281 5,227 5,485 5,377 5,442 3,709 3,842 3,859 3,792 3,864 3,967
Total Debt		 3,730 3,653 3,819 3,640 3,142 1,712 1,796 1,860 1,772 1,828 1,861
Total Long-Term Debt		 3,695 3,584 3,759 3,594 3,099 1,692 1,767 1,840 1,743 1,804 1,836
Net Debt		 3,653 3,601 3,726 3,529 2,950 1,652 1,743 1,808 1,712 1,802 1,835
Capital Expenditures (CapEx)		 50 61 53 56 51 63 52 65 53 59 59
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 68 25 224 43 9.81 2.70 123 110 50 38 141
Debt-free Net Working Capital (DFNWC)		 145 78 316 155 201 62 176 162 110 65 167
Net Working Capital (NWC)		 110 9.18 256 108 158 42 147 142 81 41 142
Net Nonoperating Expense (NNE)		 42 -183 31 23 25 -161 13 13 13 10 13
Net Nonoperating Obligations (NNO)		 3,665 1,953 3,726 3,529 2,950 1,652 1,743 1,808 1,712 1,802 1,835
Total Depreciation and Amortization (D&A)		 53 55 55 55 51 46 36 36 35 37 38
Debt-free, Cash-free Net Working Capital to Revenue		 1.03% 0.53% 3.29% 0.63% 0.14% 0.05% 2.35% 2.08% 0.92% 0.71% 2.56%
Debt-free Net Working Capital to Revenue		 2.20% 1.62% 4.66% 2.25% 2.89% 1.20% 3.37% 3.07% 2.04% 1.19% 3.02%
Net Working Capital to Revenue		 1.67% 0.19% 3.77% 1.57% 2.27% 0.81% 2.83% 2.69% 1.51% 0.75% 2.57%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.38 $0.36 $0.75 $0.60 $0.43 ($0.12) $0.44 $0.32 $0.23 $0.17 $0.35
Adjusted Weighted Average Basic Shares Outstanding		 128.21M 128.36M 130.03M 130.02M 129.47M 128.96M 128.54M 123.99M 123.82M 124.02M 124.02M
Adjusted Diluted Earnings per Share		 $0.38 $0.36 $0.75 $0.60 $0.43 ($0.12) $0.44 $0.32 $0.23 $0.17 $0.35
Adjusted Weighted Average Diluted Shares Outstanding		 128.21M 128.36M 130.03M 130.02M 129.47M 128.96M 128.54M 123.99M 123.82M 124.02M 124.02M
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		 128.21M 128.36M 130.03M 130.02M 129.47M 128.96M 128.54M 123.99M 123.82M 124.02M 124.02M
Normalized Net Operating Profit after Tax (NOPAT)		 103 -121 148 118 106 -157 88 71 58 48 76
Normalized NOPAT Margin		 6.20% 0.00% 8.27% 6.69% 6.02% 0.00% 6.47% 5.33% 4.23% 3.42% 5.38%
Pre Tax Income Margin		 4.60% 0.00% 8.59% 7.22% 6.12% 0.00% 7.11% 5.24% 4.10% 3.61% 5.78%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.00 -27.41 3.82 4.25 2.13 -70.14 3.88 2.89 2.43 2.21 3.47
NOPAT to Interest Expense		 1.59 -19.19 2.91 3.17 1.60 -49.10 3.01 2.38 1.92 1.66 2.70
EBIT Less CapEx to Interest Expense		 1.23 -36.99 2.79 2.76 1.36 -89.95 2.08 0.73 0.66 0.17 1.39
NOPAT Less CapEx to Interest Expense		 0.82 -28.77 1.88 1.68 0.83 -68.91 1.21 0.22 0.15 -0.39 0.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 43.92% 42.52% 39.94% 36.53% 30.73% 42.00% 46.62% 55.02% 62.49% 56.55% 59.43%
Augmented Payout Ratio		 50.76% 48.86% 39.94% 42.18% 38.03% 54.78% 66.01% 116.69% 128.69% 103.20% 103.00%

Financials Breakdown Chart

Key Financial Trends

Key trends for SEM (Select Medical) based on the last four years of quarterly statements

  • Q4 2025 revenue rose to 1,396,634,000, marking QoQ growth versus Q3 2025 and signaling a modest top‑line uptick.
  • 2025 cash flow from continuing operating activities was positive in all quarters, with a peak of 175,307,000 in Q3 2025, underscoring solid operating cash generation.
  • Cash dividends per share are consistently set at 0.0625, reflecting ongoing shareholder return commitments.
  • Earnings per share remained positive across all 2025 quarters (for example, Q1 2025 diluted EPS at 0.43, declining to 0.17 in Q4 2025), indicating profitability over the year despite pressure.
  • Capital expenditures on PP&E each quarter have been steady, roughly in the 50–65 million range, signaling ongoing investment in facilities and equipment.
  • Weighted average shares outstanding tracked in the mid‑120 millions (roughly 124–129 million across 2025), suggesting relatively stable dilution levels.
  • Net income declined through 2025, falling from about 74.7 million in Q1 to 37.7 million in Q4, indicating worsening quarterly profitability as the year progressed.
  • Gross margin compressed over 2025, slipping from roughly 13.4% in early 2025 to about 10.3%–10.8% by Q4 2025, signaling margin pressure.
  • Operating margin also trended down in 2025, dropping from around 8.3% in Q1 to about 4.6% in Q4, highlighting profitability compression.
  • Financing outflows persisted in 2025, with Net cash from financing activities negative in several quarters (for example, Q3 2025 at ‑134,992,000 and Q4 2025 at ‑30,964,000), contributing to overall cash outflow pressure.
05/11/26 03:49 PM ETAI Generated. May Contain Errors.

Select Medical Financials - Frequently Asked Questions

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

Select Medical's net income appears to be on an upward trend, with a most recent value of $214.53 million in 2025, rising from $136.00 million in 2015. The previous period was $296.70 million in 2024. See where experts think Select Medical is headed by visiting Select Medical's forecast page.

Select Medical's total operating income in 2025 was $336.17 million, based on the following breakdown:
  • Total Gross Profit: $629.30 million
  • Total Operating Expenses: $293.13 million

Over the last 10 years, Select Medical's total revenue changed from $3.74 billion in 2015 to $5.45 billion in 2025, a change of 45.7%.

Select Medical's total liabilities were at $3.82 billion at the end of 2025, a 5.7% increase from 2024, and a 17.7% increase since 2015.

In the past 10 years, Select Medical's cash and equivalents has ranged from $14.44 million in 2015 to $577.06 million in 2020, and is currently $26.52 million as of their latest financial filing in 2025.

Over the last 10 years, Select Medical's book value per share changed from 6.55 in 2015 to 13.78 in 2025, a change of 110.3%.


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Financial statements for NYSE:SEM last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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