Revenue reached $1.2B in 2026Q1, yet gross margins have compressed to 36.6% from a 2024Q4 peak of 40.8%, reflecting challenges in maintaining pricing power.
| Sales/Revenue | 4.52B | 4.39B | 4.39B | 3.88B | 2.45B | 1.92B | 1.44B | 1.38B | 861.23M | 722.8M |
| Revenue Growth % | 3.86% | -0.02% | 13.16% | 58.1% | 27.44% | 33.24% | 4.43% | 60.53% | 19.15% | - |
| Cost of Goods Sold | 2.81B | 2.72B | 2.66B | 2.44B | 1.57B | 1.24B | 914.35M | 844.52M | 497.79M | 422.22M |
| COGS % of Revenue | - | 62.06% | 60.66% | 62.97% | 64.12% | 64.29% | 63.33% | 61.08% | 57.8% | 58.41% |
| Gross Profit | 1.71B | 1.66B | 1.73B | 1.44B | 879.7M | 686.93M | 529.43M | 538.05M | 363.44M | 300.59M |
| Gross Margin % | 37.9% | 37.94% | 39.34% | 37.03% | 35.88% | 35.71% | 36.67% | 38.92% | 42.2% | 41.59% |
| Gross Profit Growth % | - | -3.57% | 20.2% | 63.16% | 28.06% | 29.75% | -1.6% | 48.04% | 20.91% | - |
| Operating Expenses | 1.08B | 1.03B | 979.11M | 889.62M | 636.56M | 558.96M | 411.01M | 370.91M | 272.67M | 241.56M |
| OpEx % of Revenue | - | 23.54% | 22.32% | 22.95% | 25.97% | 29.06% | 28.47% | 26.83% | 31.66% | 33.42% |
| Selling, General & Admin | 903.29M | 897.08M | 860.59M | 777.37M | 586.66M | 523.88M | 376.68M | 349.67M | 265.26M | 219.25M |
| SG&A % of Revenue | - | 20.46% | 19.62% | 20.06% | 23.93% | 27.23% | 26.09% | 25.29% | 30.8% | 30.33% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 135.36M | 118.52M | 112.24M | 49.9M | 35.08M | 34.32M | 21.24M | 7.41M | 22.31M |
| Operating Income | 636.97M | 631.27M | 746.18M | 545.73M | 243.14M | 127.98M | 118.42M | 167.13M | 90.77M | 59.03M |
| Operating Margin % | 14.09% | 14.4% | 17.01% | 14.08% | 9.92% | 6.65% | 8.2% | 12.09% | 10.54% | 8.17% |
| Operating Income Growth % | - | -15.4% | 36.73% | 124.45% | 89.99% | 8.07% | -29.15% | 84.14% | 53.76% | - |
| EBITDA | 863.5M | 853.7M | 965.33M | 781.48M | 381.23M | 205.37M | 183.12M | 223.88M | 122.8M | 89.03M |
| EBITDA Margin % | 19.1% | 19.47% | 22.01% | 20.16% | 15.55% | 10.68% | 12.68% | 16.19% | 14.26% | 12.32% |
| EBITDA Growth % | -7.91% | -11.56% | 23.53% | 104.99% | 85.63% | 12.15% | -18.21% | 82.31% | 37.93% | - |
| D&A (Non-Cash Add-back) | 226.54M | 222.43M | 219.15M | 235.75M | 138.09M | 77.39M | 64.7M | 56.75M | 32.04M | 30M |
| EBIT | 563.67M | 634.22M | 667.88M | 411.55M | 161.05M | 92.75M | 43.66M | 164.92M | 75.6M | 59.1M |
| Net Interest Income | -392.66M | -416.05M | -508.75M | -606.5M | -201.61M | -94.13M | -61.63M | -51.95M | -20.79M | -22.31M |
| Interest Income | 17.01M | 18.92M | -24.64M | -70.78M | 6.88M | 1.75M | 2.15M | 1.53M | 630K | 1.05M |
| Interest Expense | 409.67M | 434.97M | 484.1M | 535.72M | 208.5M | 95.88M | 63.78M | 53.49M | 21.42M | 23.36M |
| Other Income/Expense | -482.97M | -432.02M | -562.41M | -669.9M | -290.59M | -131.1M | -131.64M | -52.08M | -36.59M | -23.29M |
| Pretax Income | 154M | 199.25M | 183.78M | -124.17M | -47.45M | -3.13M | -13.22M | 115.05M | 54.18M | 35.74M |
| Pretax Margin % | 3.41% | 4.54% | 4.19% | -3.2% | -1.94% | -0.16% | -0.92% | 8.32% | 6.29% | 4.95% |
| Income Tax | 71.59M | 88.35M | 59.82M | 90.17M | 29.38M | 19.9M | -7.84M | 41.18M | 17.54M | 15.09M |
| Effective Tax Rate % | 46.49% | 44.34% | 32.55% | -72.62% | -61.93% | -636.5% | 59.33% | 35.79% | 32.37% | 42.23% |
| Net Income | 68.14M | 97.61M | 110.27M | -253.92M | -85.61M | -26.47M | -7.1M | 72.69M | 36.18M | 22.07M |
| Net Margin % | 1.51% | 2.23% | 2.51% | -6.55% | -3.49% | -1.38% | -0.49% | 5.26% | 4.2% | 3.05% |
| Net Income Growth % | -57.15% | -11.48% | 143.43% | -196.62% | -223.37% | -272.65% | -109.77% | 100.88% | 63.96% | - |
| Net Income (Continuing) | 82.41M | 110.9M | 123.96M | -214.34M | -76.83M | -23.02M | -5.38M | 73.87M | 36.64M | 20.65M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 179.81M | 165.58M | 145.72M | 311.28M | 493.08M | 50.09M | 51.14M | 16.54M | 15.73M | 1.36M |
| EPS (Diluted) | 0.94 | 3.06 | 1.63 | -5.78 | -1.90 | -0.55 | -0.16 | 1.69 | 0.97 | 0.59 |
| EPS Growth % | -112.95% | 87.73% | 128.2% | -204.21% | -245.45% | -243.75% | -109.47% | 74.23% | 64.41% | - |
| EPS (Basic) | - | 3.06 | 1.64 | -5.78 | -1.90 | -0.55 | -0.16 | 1.69 | 0.97 | 0.59 |
| Diluted Shares Outstanding | 72.76M | 30.1M | 67.65M | 43.92M | 45.04M | 47.92M | 45.15M | 43.01M | 37.33M | 37.16M |
| Basic Shares Outstanding | 72.76M | 30.1M | 67.65M | 43.92M | 45.04M | 47.92M | 45.15M | 43.01M | 37.33M | 37.16M |
| Dividend Payout Ratio | - | - | 1.04% | - | - | - | - | 13.76% | 27.64% | - |
Currency and integration volatility
According to recent financial disclosures, Auna's revenue reached $1.2B in 2026Q1, reflecting a 13.0% year-over-year growth rate that highlights the company's aggressive push into new markets, though the inconsistent quarterly growth patterns suggest that organic scaling remains challenged by the integration of recent large-scale acquisitions.
The revenue trajectory appears heavily influenced by inorganic expansion, particularly the consolidation of Mexican assets which complicates year-over-year comparisons. Investors should monitor whether the company can transition from acquisition-led growth to sustainable organic volume increases in its core oncology and prepaid plan segments.
As reported in quarterly filings, Auna's gross margin fluctuated to 36.6% in 2026Q1, down from a peak of 40.8% in 2024Q4, indicating that the company is struggling to maintain pricing power while absorbing higher medical supply costs and the operational overhead of its expanded regional hospital footprint.
The compression in gross margins suggests that the high-acuity oncology model is facing increased cost pressure, likely from medical inflation or unfavorable shifts in the payor mix. This trend warrants further investigation into whether the company's integrated model can effectively pass through rising clinical costs to its prepaid plan members.
Based on the provided income statement data, Auna's operating margin of 13.1% in 2026Q1 demonstrates a lack of consistent operating leverage, as SG&A expenses have shown significant volatility, rising to $276.4M in the most recent quarter compared to the leaner $117.5M reported in 2024Q4.
The erratic nature of SG&A spending suggests that the company is still in a heavy investment phase, potentially related to the integration of its Mexican operations. Analysts should evaluate whether these elevated overhead costs are temporary integration expenses or a structural increase in the cost of managing a multi-national healthcare platform.
Financial statements reveal that Auna's net income has been highly unstable, swinging from a $68.4M loss in 2025Q4 to a $6.5M profit in 2026Q1, a trend that appears driven by non-operating items and significant fluctuations in quarterly tax or currency translation impacts rather than core clinical performance.
The wide variance in net income suggests that investors should focus on operating income as a more reliable proxy for underlying business health. The frequent shifts between profitability and losses indicate that the company's bottom line remains sensitive to external factors that may not reflect the long-term viability of its oncology-focused business model.
A critical review of the income statement suggests that short-sellers may focus on the company's thin net margins, which reached only 0.6% in 2026Q1, highlighting a vulnerability to even minor operational disruptions or currency devaluations in its primary markets of Mexico, Peru, and Colombia.
The reliance on a complex, cross-border integrated model introduces significant execution risk that the current valuation may not fully capture. If the company fails to realize expected synergies from its recent acquisitions, the combination of high fixed costs and thin margins could lead to sustained earnings pressure.
Quick answers to the most common questions about buying AUNA stock.
For fiscal year 2025, Auna S.A. (AUNA) reported total revenue of $4.39B. This represents a 506.7% increase compared to $722.8M in 2017.
Auna S.A. (AUNA) is profitable, generating $97.6M in net income for the fiscal year ending 2025 with a net profit margin of 2.2%.
Auna S.A. (AUNA) reported an operating income of $631.3M, resulting in an operating profit margin of 14.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Auna S.A. (AUNA) generated $1.66B in gross profit for the year, representing a gross profit margin of 37.9%. This demonstrates the company's core pricing power and production efficiency.