Surgery Partners, Inc. (SGRY) AI Stock Analysis

Surgery Partners, Inc. provides surgical facility and ancillary healthcare services throughout the United States. Its operations are organized into two primary segments: Surgical Facility Services and Ancillary Services. Through Surgical Facility Services, the company operates ambulatory surgery centers and surgical hospitals providing non-emergency procedures across specialties including gastroenterology, orthopedics, ophthalmology, general surgery, and pain management. These surgical hospitals also provide diagnostic imaging, pharmacy, laboratory services, obstetrics, oncology, physical therapy, and wound care. The Ancillary Services segment includes multi-specialty physician practices, urgent care centers, and anesthesia services. Founded in 2004 and headquartered in Brentwood, Tennessee, the company managed 126 surgical facilities across 31 states as of December 31, 2021.

Revenue expanded from $2.23B in FY2021 to $3.31B in FY2025, delivering a 5-year revenue CAGR of 12.2% from FY2020 to FY2025. Annual top-line growth decelerated from 19.6% in FY2021 to 6.2% in FY2025. Gross margin stood at 23.1% in FY2025, while operating margin was 11.8%, down from 13.6% in FY2021. Net income remained negative in each reported fiscal year, recording -$70.9M in FY2021, -$168.1M in FY2024, and -$77.9M in FY2025. For the trailing twelve months ending June 30, 2026, revenue reached $3.37B with an operating margin of 13.7% and a net profit margin of -2.6%. Quarterly revenue growth was 2.7% year-over-year in the quarter ended June 30, 2026.

As of June 30, 2026, Surgery Partners held $216.7M in cash and short-term investments against $4.02B in total debt, resulting in net debt of $3.80B. Shareholders' equity was $1.67B, leading to a debt-to-equity ratio of 2.40. Total assets were $8.05B, and the current ratio was 1.95. In FY2025, the company generated $274.3M in operating cash flow and $195.6M in free cash flow, while spending $78.7M on capital expenditures. The company's share count increased by 52.4% over five years.

Surgery Partners trades at a forward P/E of 18.9x, above the 17.3x median of its US-listed Healthcare peers. Its enterprise value of $5.75B reflects an EV/EBITDA multiple of 10.2x, below the peer group median of 12.0x, while its price-to-sales ratio is 0.6x compared to the peer median of 4.1x. Over the past year, the stock fell 30.9%, trailing the S&P 500's return of 16.8%. Over five years, the stock dropped 64.3%, compared to an 83.0% gain for the S&P 500.

Wall Street coverage includes 8 Strong Buy, 1 Buy, and 3 Hold ratings, with no Sell or Strong Sell ratings. The mean price target of $18.82 sits 28.8% above the last close of $14.61. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $0.35 on revenue of $3.15B. For the following fiscal year, 4 analysts estimate EPS of $0.28 and revenue of $2.81B, implying a revenue decline of 10.7%. Surgery Partners has beaten EPS estimates in 2 of the last 4 quarters, and its next earnings date is November 9, 2026.

This page is an AI-written research summary of Surgery Partners, Inc. (SGRY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: SGRY income statement, SGRY balance sheet, SGRY key metrics, SGRY analyst forecast, SGRY chart. See the SGRY stock overview for the latest quote and news.