Surgery Partners, Inc. (SGRY) Financial Ratios
13 years of historical data (2013–2025) · Healthcare · Medical - Care Facilities
EV/EBITDA
↓
10.06
↓-24% vs avg
5yr avg: 13.20
30Y Low9.3·High19.0
P/FCF
↓
9.73
↓-76% vs avg
5yr avg: 41.25
30Y Low4.5·High131.1
P/B Ratio
↓
0.52
↓-47% vs avg
5yr avg: 0.99
30Y Low0.4·High2.6
ROE
↑
-2.2%
↓+16% vs avg
5yr avg: -2.6%
30Y Low-63%·High3%
Debt/EBITDA
↓
7.12
↓-1% vs avg
5yr avg: 7.19
30Y Low6.1·High21.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SGRY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Surgery Partners, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 9.7x P/FCF, 76% below the 5-year average of 41.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.9B | $2.0B | $2.7B | $4.0B | $2.6B | $3.9B | $1.4B | $756M | $470M | $593M | $764M |
| Enterprise Value | $5.7B | $5.8B | $6.1B | $6.9B | $5.2B | $6.8B | $4.3B | $3.6B | $2.8B | $2.6B | $2.2B |
| P/E Ratio → | -23.85 | — | — | — | — | — | — | 16.48 | — | — | 79.25 |
| P/S Ratio | 0.58 | 0.59 | 0.86 | 1.46 | 1.01 | 1.74 | 0.76 | 0.41 | 0.27 | 0.44 | 0.67 |
| P/B Ratio | 0.52 | 0.56 | 0.73 | 1.20 | 0.78 | 1.68 | 0.87 | 0.44 | 0.43 | 0.44 | 2.35 |
| P/FCF | 9.73 | 10.05 | 12.73 | 19.60 | 32.76 | 131.13 | 6.94 | 13.52 | 4.49 | 6.49 | 8.87 |
| P/OCF | 6.94 | 7.17 | 8.90 | 13.68 | 16.13 | 44.41 | 5.73 | 5.84 | 3.25 | 4.90 | 6.10 |
P/E links to full P/E history page with 30-year chart
SGRY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Surgery Partners, Inc.'s enterprise value stands at 10.1x EBITDA, 24% below its 5-year average of 13.2x. The Healthcare sector median is 14.2x, placing the stock at a 29% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.74 | 1.96 | 2.51 | 2.05 | 3.04 | 2.31 | 1.95 | 1.56 | 1.94 | 1.91 |
| EV / EBITDA | 10.06 | 10.17 | 12.17 | 15.43 | 11.32 | 16.89 | 15.46 | 11.41 | 19.01 | 12.41 | 9.28 |
| EV / EBIT | 14.60 | 14.76 | 17.50 | 20.99 | 15.09 | 22.41 | 23.46 | 15.26 | 35.50 | 13.04 | 10.65 |
| EV / FCF | — | 29.40 | 29.11 | 33.58 | 66.61 | 229.59 | 21.05 | 63.76 | 26.36 | 28.54 | 25.43 |
SGRY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Surgery Partners, Inc. earns an operating margin of 11.8%. A negative ROE of -2.2% indicates the company is currently destroying shareholder equity. ROIC of 4.1% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.1% | 23.1% | 23.9% | 23.6% | 22.6% | 22.1% | 20.4% | 23.1% | 23.1% | 24.4% | 28.3% |
| Operating Margin | 11.8% | 11.8% | 11.2% | 12.0% | 13.6% | 13.6% | 9.8% | 12.9% | 4.4% | 11.8% | 17.2% |
| Net Profit Margin | -2.4% | -2.4% | -5.4% | -0.4% | -2.2% | -3.2% | -6.2% | -4.1% | -11.6% | -4.0% | 0.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.2% | -2.2% | -4.8% | -0.4% | -2.0% | -3.6% | -7.0% | -5.3% | -16.9% | -6.4% | 3.0% |
| ROA | -1.0% | -1.0% | -2.3% | -0.2% | -0.9% | -1.2% | -2.2% | -1.5% | -4.4% | -1.5% | 0.4% |
| ROIC | 4.1% | 4.1% | 3.9% | 4.0% | 4.7% | 4.7% | 3.0% | 4.5% | 1.7% | 4.7% | 8.9% |
| ROCE | 5.2% | 5.2% | 5.1% | 5.2% | 5.9% | 5.8% | 3.9% | 5.3% | 1.8% | 4.9% | 9.7% |
SGRY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Surgery Partners, Inc. carries a Debt/EBITDA ratio of 7.1x, which is highly leveraged (121% above the sector average of 3.2x). Net debt stands at $3.8B ($4.0B total debt minus $240M cash). Interest coverage of just 1.4x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.14 | 1.14 | 1.02 | 0.91 | 0.89 | 1.43 | 1.97 | 1.71 | 2.25 | 1.64 | 4.61 |
| Debt / EBITDA | 7.12 | 7.12 | 7.39 | 6.86 | 6.37 | 8.22 | 11.51 | 9.29 | 17.04 | 10.42 | 6.34 |
| Net Debt / Equity | — | 1.07 | 0.94 | 0.85 | 0.81 | 1.26 | 1.77 | 1.65 | 2.09 | 1.51 | 4.39 |
| Net Debt / EBITDA | 6.69 | 6.69 | 6.85 | 6.42 | 5.75 | 7.24 | 10.36 | 8.99 | 15.78 | 9.58 | 6.05 |
| Debt / FCF | — | 19.35 | 16.38 | 13.98 | 33.85 | 98.46 | 14.11 | 50.24 | 21.87 | 22.05 | 16.57 |
| Interest Coverage | 1.43 | 1.43 | 1.73 | 1.70 | 1.47 | 1.37 | 0.91 | 1.31 | 0.53 | 1.70 | 2.05 |
SGRY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.87x means Surgery Partners, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.71x to 1.87x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.87 | 1.87 | 1.79 | 1.71 | 1.87 | 1.76 | 1.44 | 1.32 | 1.68 | 1.86 | 1.94 |
| Quick Ratio | 1.71 | 1.71 | 1.65 | 1.57 | 1.72 | 1.65 | 1.34 | 1.20 | 1.56 | 1.71 | 1.78 |
| Cash Ratio | 0.39 | 0.39 | 0.43 | 0.37 | 0.57 | 0.73 | 0.57 | 0.23 | 0.53 | 0.58 | 0.37 |
| Asset Turnover | — | 0.40 | 0.39 | 0.40 | 0.38 | 0.36 | 0.34 | 0.36 | 0.38 | 0.29 | 0.50 |
| Inventory Turnover | 26.33 | 26.33 | 26.80 | 27.87 | 27.51 | 28.37 | 26.25 | 30.40 | 31.40 | 22.55 | 28.54 |
| Days Sales Outstanding | — | 66.43 | 67.87 | 66.05 | 65.59 | 70.57 | 75.00 | 65.15 | 65.14 | 80.45 | 72.54 |
SGRY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Surgery Partners, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 0.1% | — | — | 1.7% | 0.2% | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 6.1% | — | — | 1.3% |
| FCF Yield | 10.3% | 10.0% | 7.9% | 5.1% | 3.1% | 0.8% | 14.4% | 7.4% | 22.3% | 15.4% | 11.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.3% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 2.1% | 0.6% | 0.0% |
| Shares Outstanding | — | $127M | $126M | $126M | $92M | $72M | $49M | $48M | $48M | $49M | $48M |
Peer Comparison
Compare SGRY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SGRYYou | $2B | -23.9 | 10.1 | 9.7 | 23.1% | 11.8% | -2.2% | 4.1% | 7.1 |
 USPH | $964M | 44.6 | 13.2 | 15.8 | 20.1% | 10.3% | 2.0% | 5.6% | 4.1 |
 SEM | $2B | 14.0 | 12.1 | 5.4 | 11.5% | 6.1% | 7.3% | 4.8% | 7.8 |
 AMSF | $589M | 12.7 | 8.8 | 66.0 | 46.4% | 18.6% | 18.5% | 21.9% | 0.0 |
 NHC | $3B | 26.3 | 16.6 | 21.2 | 67.8% | 9.5% | 11.7% | 9.9% | 0.5 |
 ADUS | $2B | 18.1 | 12.2 | 16.9 | 32.5% | 9.7% | 9.3% | 8.8% | 1.3 |
 ALHC | $4B | -5908.1 | 93.4 | 39.5 | 12.4% | 0.4% | -0.5% | — | 7.5 |
 UHS | $9B | 6.1 | 5.4 | 10.4 | 90.4% | 11.5% | 21.0% | 12.3% | 2.1 |
 HCA | $84B | 13.2 | 8.6 | 10.9 | 41.5% | 15.8% | — | 19.9% | 3.2 |
 THC | $15B | 11.1 | 5.9 | 6.0 | 82.3% | 16.1% | 16.1% | 13.2% | 3.1 |
 CYH | $426M | 0.8 | — | 2.0 | 8.7% | -79.4% | — | -70.1% | — |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 13 years · Updated daily
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SGRY — Frequently Asked Questions
Quick answers to the most common questions about buying SGRY stock.
What is Surgery Partners, Inc.'s P/E ratio?
Surgery Partners, Inc.'s current P/E ratio is -23.9x. The historical average is 47.9x.
What is Surgery Partners, Inc.'s EV/EBITDA?
Surgery Partners, Inc.'s current EV/EBITDA is 10.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.2x.
What is Surgery Partners, Inc.'s ROE?
Surgery Partners, Inc.'s return on equity (ROE) is -2.2%. The historical average is -9.0%.
Is SGRY stock overvalued?
Based on historical data, Surgery Partners, Inc. is trading at a P/E of -23.9x. Compare with industry peers and growth rates for a complete picture.
What are Surgery Partners, Inc.'s profit margins?
Surgery Partners, Inc. has 23.1% gross margin and 11.8% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Surgery Partners, Inc. have?
Surgery Partners, Inc.'s Debt/EBITDA ratio is 7.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.