Universal Health Services, Inc. (UHS) 10-Year Financial Performance & Capital Metrics

UHS • • Industrial / General

HealthcareHealthcare FacilitiesHospital & Acute Care FacilitiesGeneral Acute Care Hospitals

AboutUniversal Health Services, Inc., through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities. The company operates through Acute Care Hospital Services and Behavioral Health Care Services segments. Its hospitals offer general and specialty surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic and coronary care, pediatric services, pharmacy services, and/or behavioral health services. As of February 24, 2022, it owned and/or operated 363 inpatient facilities, and 40 outpatient and other facilities located in 39 states; Washington, D.C.; the United Kingdom; and Puerto Rico. The company also provides commercial health insurance services; and various management services, which include central purchasing, information, finance and control systems, facilities planning, physician recruitment, administrative personnel management, marketing, and public relations services. Universal Health Services, Inc. founded in 1978 and is headquartered in King of Prussia, Pennsylvania.Show more

Revenue $15.83B +10.8%
EBITDA $2.27B +30.0%
Net Income $1.14B +59.1%
EPS (Diluted) 16.82 +64.4%
Gross Margin 89.97% +0.8%
EBITDA Margin 14.32% +17.3%
Operating Margin 10.63% +29.1%
Net Margin 7.22% +43.6%
ROE 17.62% +49.4%
ROIC 10.95% +40.3%
Debt/Equity 0.73 -15.3%
Interest Coverage 8.97 +58.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 3.2% through buybacks
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.97%

5Y6.82%

3Y7.78%

TTM10.21%

Profit (Net Income) CAGR

10Y7.67%

5Y6.99%

3Y4.82%

TTM34.03%

EPS CAGR

10Y11.99%

5Y13%

3Y12.48%

TTM39.16%

ROCE

10Y Avg12.71%

5Y Avg11.59%

3Y Avg10.91%

Latest13.89%

Peer Comparison

General Acute Care Hospitals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HCAHCA Healthcare, Inc.	110.4B	483.80	21.99	8.67%	8.57%	7.13%	5.11%	81.51
UHSUniversal Health Services, Inc.	11.28B	204.19	12.14	10.82%	8.09%	18.85%	9.96%	0.73
THCTenet Healthcare Corporation	17.69B	201.32	6.16	0.57%	6.49%	15.56%	6.31%	1.68
ARDTArdent Health Partners, LLC	1.27B	8.90	5.63	10.29%	3.24%	12.57%	10.01%	1.50
AUNAAuna S.A.	138.14M	4.59	2.82	14.47%	4.33%	10.05%	100%	2.32
CYHCommunity Health Systems, Inc.	462.66M	3.34	-0.86	1.15%	2.6%		25.94%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.04B	9.77B	10.41B	10.77B	11.38B	11.56B	12.64B	13.4B	14.28B	15.83B
Revenue Growth %	0.12%	0.08%	0.07%	0.03%	0.06%	0.02%	0.09%	0.06%	0.07%	0.11%
Cost of Goods Sold+	974.09M	1.03B	1.11B	1.17B	1.25B	1.29B	1.43B	1.47B	1.53B	1.59B
COGS % of Revenue	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.1%
Gross Profit+	8.07B	8.73B	9.3B	9.6B	10.13B	10.27B	11.21B	11.93B	12.75B	14.24B
Gross Margin %	0.89%	0.89%	0.89%	0.89%	0.89%	0.89%	0.89%	0.89%	0.89%	0.9%
Gross Profit Growth %	0.1%	0.08%	0.07%	0.03%	0.05%	0.01%	0.09%	0.06%	0.07%	0.12%
Operating Expenses+	6.81B	7.45B	8.02B	8.43B	8.91B	8.91B	9.85B	10.92B	11.57B	12.56B
OpEx % of Revenue	0.75%	0.76%	0.77%	0.78%	0.78%	0.77%	0.78%	0.82%	0.81%	0.79%
Selling, General & Admin	4.31B	4.68B	5.08B	5.36B	5.7B	5.73B	6.28B	6.89B	7.25B	7.67B
SG&A % of Revenue	0.48%	0.48%	0.49%	0.5%	0.5%	0.5%	0.5%	0.51%	0.51%	0.48%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	2.5B	2.77B	2.94B	3.07B	3.21B	3.18B	3.57B	4.03B	4.33B	4.89B
Operating Income+	1.26B	1.28B	1.28B	1.18B	1.22B	1.36B	1.36B	1B	1.18B	1.68B
Operating Margin %	0.14%	0.13%	0.12%	0.11%	0.11%	0.12%	0.11%	0.07%	0.08%	0.11%
Operating Income Growth %	0.18%	0.02%	-0%	-0.08%	0.03%	0.12%	0%	-0.26%	0.17%	0.43%
EBITDA+	1.66B	1.7B	1.73B	1.63B	1.71B	1.87B	1.9B	1.59B	1.74B	2.27B
EBITDA Margin %	0.18%	0.17%	0.17%	0.15%	0.15%	0.16%	0.15%	0.12%	0.12%	0.14%
EBITDA Growth %	0.15%	0.02%	0.02%	-0.06%	0.05%	0.1%	0.01%	-0.16%	0.1%	0.3%
D&A (Non-Cash Add-back)	398.62M	416.61M	447.76M	453.05M	490.39M	510.49M	533.21M	581.86M	568.04M	584.83M
EBIT	1.24B	1.26B	1.27B	1.18B	1.23B	1.36B	1.38B	993.15M	1.14B	1.68B
Net Interest Income+	-103.29M	-116.56M	-142.77M	-154.96M	-162.73M	-106.28M	-83.67M	-126.89M	-206.67M	-186.11M
Interest Income	279K	150K	81K	0	0	2.8M	1.6M	378K	572K	1.43M
Interest Expense	103.57M	116.72M	142.85M	154.96M	162.73M	109.09M	85.27M	127.27M	207.25M	187.53M
Other Income/Expense	-113.49M	-125.05M	-145.17M	-140.74M	-149.57M	-106.27M	-69.78M	-137.29M	-234.96M	-183.88M
Pretax Income+	1.15B	1.16B	1.14B	1.03B	1.07B	1.25B	1.29B	866.26M	940.43M	1.5B
Pretax Margin %	0.13%	0.12%	0.11%	0.1%	0.09%	0.11%	0.1%	0.06%	0.07%	0.09%
Income Tax+	395.2M	409.19M	363.7M	236.64M	238.79M	299.29M	305.68M	209.28M	221.12M	334.83M
Effective Tax Rate %	0.59%	0.61%	0.66%	0.75%	0.76%	0.75%	0.77%	0.78%	0.76%	0.76%
Net Income+	680.53M	702.41M	752.3M	779.71M	814.85M	943.95M	991.59M	675.61M	717.79M	1.14B
Net Margin %	0.08%	0.07%	0.07%	0.07%	0.07%	0.08%	0.08%	0.05%	0.05%	0.07%
Net Income Growth %	0.25%	0.03%	0.07%	0.04%	0.05%	0.16%	0.05%	-0.32%	0.06%	0.59%
Net Income (Continuing)	750.7M	747.17M	771.31M	797.88M	827.54M	952.79M	987.63M	656.98M	719.31M	1.16B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	302.02M	73.69M	68.62M	80.82M	79.1M	89.39M	108.51M	49.46M	52.91M	96.61M
EPS (Diluted)+	6.76	7.14	7.81	8.32	9.13	10.99	11.82	9.14	10.23	16.82
EPS Growth %	0.25%	0.06%	0.09%	0.07%	0.1%	0.2%	0.08%	-0.23%	0.12%	0.64%
EPS (Basic)	6.89	7.22	7.86	8.36	9.16	11.06	11.99	9.23	10.35	17.16
Diluted Shares Outstanding	100.69M	98.38M	96.33M	93.75M	89.04M	85.59M	83.69M	73.83M	70.13M	67.9M
Basic Shares Outstanding	98.8M	97.21M	95.65M	93.28M	88.76M	85.06M	82.52M	73.12M	69.32M	66.55M
Dividend Payout Ratio	0.06%	0.06%	0.05%	0.05%	0.07%	0.02%	0.07%	0.09%	0.08%	0.05%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.72B	1.68B	1.8B	1.94B	1.92B	3.28B	2.26B	2.54B	2.81B	2.82B
Cash & Short-Term Investments	61.23M	33.75M	74.42M	105.22M	61.27M	1.22B	115.3M	102.82M	119.44M	125.98M
Cash Only	61.23M	33.75M	74.42M	105.22M	61.27M	1.22B	115.3M	102.82M	119.44M	125.98M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.3B	1.44B	1.5B	1.51B	1.56B	1.73B	1.75B	2.02B	2.24B	2.18B
Days Sales Outstanding	52.57	53.8	52.63	51.16	50.07	54.6	50.43	54.96	57.2	50.22
Inventory	116.04M	125.36M	136.18M	148.21M	159.89M	190.42M	206.84M	218.52M	216.99M	220.94M
Days Inventory Outstanding	43.48	44.37	44.98	46.29	46.64	53.96	52.9	54.1	51.67	50.79
Other Current Assets	238.61M	82.71M	86.5M	174.47M	133.93M	138.03M	194.78M	198.28M	236.66M	291.61M
Total Non-Current Assets+	7.9B	8.64B	8.96B	9.33B	9.75B	10.2B	10.83B	10.96B	11.16B	11.65B
Property, Plant & Equipment	3.84B	4.33B	4.57B	4.85B	5.34B	5.71B	6.24B	6.37B	6.56B	6.99B
Fixed Asset Turnover	2.36x	2.25x	2.28x	2.22x	2.13x	2.02x	2.03x	2.10x	2.18x	2.26x
Goodwill	3.6B	3.78B	3.83B	3.84B	3.87B	3.88B	3.96B	3.91B	3.93B	3.93B
Intangible Assets	0	0	0	0	0	0	0	0	0	76.27M
Long-Term Investments	0	0	0	0	0	0	0	0	0	318.73M
Other Non-Current Assets	465.05M	520.13M	563.83M	629.83M	523.15M	579.97M	579.9M	605.89M	579.73M	216.19M
Total Assets+	9.62B	10.32B	10.76B	11.27B	11.67B	13.48B	13.09B	13.49B	13.97B	14.47B
Asset Turnover	0.94x	0.95x	0.97x	0.96x	0.98x	0.86x	0.97x	0.99x	1.02x	1.09x
Asset Growth %	0.07%	0.07%	0.04%	0.05%	0.04%	0.16%	-0.03%	0.03%	0.04%	0.04%
Total Current Liabilities+	1.1B	1.32B	1.85B	1.45B	1.56B	2.48B	1.98B	1.91B	2.01B	2.21B
Accounts Payable	366.24M	439.67M	441.98M	445.65M	446.96M	570.52M	658.9M	636.6M	613.97M	632M
Days Payables Outstanding	137.23	155.6	145.98	139.19	130.37	161.66	168.52	157.6	146.2	145.28
Short-Term Debt	62.72M	105.89M	545.62M	63.45M	87.55M	332M	48.41M	81.45M	126.69M	40.06M
Deferred Revenue (Current)	0	0	0	0	0	1000K	6K	1000K	1000K	0
Other Current Liabilities	245.12M	275.29M	343.22M	472.53M	524.63M	410.17M	466.35M	470.86M	549.47M	622.63M
Current Ratio	1.56x	1.28x	0.97x	1.34x	1.23x	1.32x	1.14x	1.33x	1.40x	1.27x
Quick Ratio	1.46x	1.18x	0.90x	1.24x	1.12x	1.25x	1.04x	1.21x	1.29x	1.17x
Cash Conversion Cycle	-41.19	-57.43	-48.38	-41.74	-33.66	-53.11	-65.19	-48.54	-37.33	-44.27
Total Non-Current Liabilities+	3.96B	4.39B	3.86B	4.35B	4.52B	4.59B	4.91B	5.61B	5.75B	5.5B
Long-Term Debt	3.37B	4.03B	3.49B	3.94B	3.9B	3.52B	4.14B	4.73B	4.79B	4.46B
Capital Lease Obligations	0	0	0	0	270.08M	278.3M	304.62M	395.52M	382.56M	376.24M
Deferred Tax Liabilities	315.9M	88.12M	54.96M	49.66M	25.07M	5.58M	0	0	0	0
Other Non-Current Liabilities	278.83M	275.17M	306.3M	361.81M	329.93M	458.55M	464.76M	487.67M	584.01M	655.81M
Total Liabilities	5.06B	5.71B	5.7B	5.8B	6.09B	7.07B	6.9B	7.52B	7.77B	7.71B
Total Debt+	3.43B	4.14B	4.04B	4B	4.31B	4.19B	4.56B	5.27B	5.37B	4.96B
Net Debt	3.37B	4.1B	3.97B	3.89B	4.25B	2.97B	4.44B	5.17B	5.25B	4.83B
Debt / Equity	0.75x	0.90x	0.80x	0.73x	0.77x	0.65x	0.74x	0.88x	0.87x	0.73x
Debt / EBITDA	2.07x	2.44x	2.34x	2.46x	2.53x	2.24x	2.40x	3.32x	3.08x	2.19x
Net Debt / EBITDA	2.03x	2.42x	2.29x	2.39x	2.49x	1.59x	2.34x	3.26x	3.01x	2.13x
Interest Coverage	12.16x	10.98x	8.96x	7.58x	7.47x	12.45x	15.99x	7.89x	5.67x	8.97x
Total Equity+	4.55B	4.61B	5.06B	5.47B	5.58B	6.41B	6.2B	5.97B	6.2B	6.76B
Equity Growth %	0.13%	0.01%	0.1%	0.08%	0.02%	0.15%	-0.03%	-0.04%	0.04%	0.09%
Book Value per Share	45.20	46.83	52.51	58.35	62.70	74.85	74.06	80.86	88.44	99.61
Total Shareholders' Equity	4.25B	4.53B	4.99B	5.39B	5.5B	6.32B	6.09B	5.92B	6.15B	6.67B
Common Stock	983K	966K	942K	914K	867K	851K	771K	710K	672K	650K
Retained Earnings	4.57B	4.89B	4.98B	5.38B	5.47B	6.27B	6.06B	5.93B	6.8B	7.37B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-317.86M	-359.02M	7.18M	4.24M	31.89M	48.12M	30.29M	-9.67M	-650.6M	-706.5M
Minority Interest	302.02M	73.69M	68.62M	80.82M	79.1M	89.39M	108.51M	49.46M	52.91M	96.61M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.02B	1.29B	1.18B	1.34B	1.44B	2.36B	883.7M	996.02M	1.27B	2.07B
Operating CF Margin %	0.11%	0.13%	0.11%	0.12%	0.13%	0.2%	0.07%	0.07%	0.09%	0.13%
Operating CF Growth %	-0.01%	0.26%	-0.08%	0.13%	0.07%	0.64%	-0.63%	0.13%	0.27%	0.63%
Net Income	750.7M	747.17M	771.31M	797.88M	827.54M	952.79M	987.63M	656.98M	717.49M	1.16B
Depreciation & Amortization	398.62M	416.61M	447.88M	453.08M	490.39M	510.49M	533.21M	581.86M	568.04M	584.83M
Stock-Based Compensation	39.97M	48.11M	56.74M	66.58M	69.43M	65.84M	73.69M	85.38M	87.72M	99.35M
Deferred Taxes	47.36M	47.36M	0	49.52M	90.09M	3.32M	26.05M	0	0	0
Other Non-Cash Items	-130.12M	-129.33M	-79.19M	-76.15M	-97.78M	-109.76M	0	-83.85M	-124.34M	-198.95M
Working Capital Changes	-85.64M	158.55M	-14.16M	49.98M	58.79M	940.81M	-736.89M	-244.35M	17.07M	418.76M
Change in Receivables	-45.81M	-87.88M	-24.72M	-42.24M	-42.06M	-145.9M	-8.87M	-258.34M	-182.44M	67.36M
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-912.88M	-1.19B	-624.4M	-813.4M	-688.41M	-802.56M	-914.47M	-647.3M	-763.27M	-911.11M
Capital Expenditures	-912.98M	-1.16B	-609.43M	-811.67M	-663.52M	-734.21M	-855.66M	-734M	-743.05M	-943.81M
CapEx % of Revenue	0.1%	0.12%	0.06%	0.08%	0.06%	0.06%	0.07%	0.05%	0.05%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.39M	-32M	108K	13.5M	-10.31M	8.07M	46.51M	12M	-16.51M	51.42M
Cash from Financing+	-77.25M	-125.95M	-519.15M	-492.2M	-845.04M	-384.86M	-1.07B	-318.4M	-493.94M	-1.14B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-39.53M	-38.88M	-38.21M	-37.34M	-53M	-17.34M	-65.9M	-58.45M	-55.48M	-53.35M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-6.93M	-27.31M	-14.54M	-4.4M	-3.61M	172K	715K	-42.99M	9.28M	-6.09M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	107.92M	133.26M	573.15M	529.22M	774.95M	1.63B	28.04M	262.02M	524.74M	1.12B
FCF Margin %	0.01%	0.01%	0.06%	0.05%	0.07%	0.14%	0%	0.02%	0.04%	0.07%
FCF Growth %	-0.49%	0.23%	3.3%	-0.08%	0.46%	1.1%	-0.98%	8.35%	1%	1.14%
FCF per Share	1.07	1.35	5.95	5.65	8.70	19.00	0.33	3.55	7.48	16.54
FCF Conversion (FCF/Net Income)	1.50x	1.83x	1.57x	1.72x	1.77x	2.50x	0.89x	1.47x	1.77x	1.81x
Interest Paid	107.05M	107.08M	135.53M	150.29M	157.41M	112.6M	75.61M	120.14M	200.45M	168.27M
Taxes Paid	380.66M	344.61M	370.86M	293.84M	260.62M	286.25M	362.98M	250.76M	257.9M	325.43M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.86%	15.34%	15.57%	14.81%	14.74%	15.75%	15.73%	11.1%	11.79%	17.62%
Return on Invested Capital (ROIC)	12.43%	11.56%	10.83%	9.59%	9.5%	10.61%	10.21%	6.91%	7.81%	10.95%
Gross Margin	89.23%	89.44%	89.38%	89.15%	89%	88.86%	88.71%	89%	89.27%	89.97%
Net Margin	7.53%	7.19%	7.23%	7.24%	7.16%	8.17%	7.84%	5.04%	5.03%	7.22%
Debt / Equity	0.75x	0.90x	0.80x	0.73x	0.77x	0.65x	0.74x	0.88x	0.87x	0.73x
Interest Coverage	12.16x	10.98x	8.96x	7.58x	7.47x	12.45x	15.99x	7.89x	5.67x	8.97x
FCF Conversion	1.50x	1.83x	1.57x	1.72x	1.77x	2.50x	0.89x	1.47x	1.77x	1.81x
Revenue Growth	12.13%	7.99%	6.59%	3.48%	5.63%	1.59%	9.37%	5.99%	6.59%	10.82%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Acute Care Hospital Services	16.85B	19.04B	21.89B	24.81B	28.43B	30.56B	7.11B	7.65B	8.08B	8.92B
Acute Care Hospital Services Growth	-	13.03%	14.94%	13.37%	14.57%	7.50%	-76.74%	7.58%	5.68%	10.41%
Behavioral Health Services	7.46B	8.02B	8.95B	9.74B	10.1B	9.72B	5.5B	5.73B	6.19B	6.9B
Behavioral Health Services Growth	-	7.53%	11.63%	8.78%	3.75%	-3.78%	-43.37%	4.11%	8.05%	11.37%
All Others	-	-	-	-	-	-	30.22M	22.86M	9.65M	-
All Others Growth	-	-	-	-	-	-	-	-24.34%	-57.78%	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Behavioral Health Services	-	-	-	-	-	-	688M	685M	761M	-
Behavioral Health Services Growth	-	-	-	-	-	-	-	-0.44%	11.09%	-

Frequently Asked Questions

Valuation & Price

Universal Health Services, Inc. (UHS) has a price-to-earnings (P/E) ratio of 12.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Universal Health Services, Inc. (UHS) reported $16.99B in revenue for fiscal year 2024. This represents a 127% increase from $7.50B in 2011.

Universal Health Services, Inc. (UHS) grew revenue by 10.8% over the past year. This is steady growth.

Yes, Universal Health Services, Inc. (UHS) is profitable, generating $1.38B in net income for fiscal year 2024 (7.2% net margin).

Dividend & Returns

Yes, Universal Health Services, Inc. (UHS) pays a dividend with a yield of 0.38%. This makes it attractive for income-focused investors.

Universal Health Services, Inc. (UHS) has a return on equity (ROE) of 17.6%. This is reasonable for most industries.

Universal Health Services, Inc. (UHS) generated $1.37B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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