Universal Health Services, Inc. (UHS) Income Statement
UHS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsUHS revenue and net income
Where UHS's revenue goes
2025Each bar shows an amount and its share of revenue. UHS kept 8.6% of revenue as net income.
UHS profit margins
UHS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.7% | +9.0% | +8.5% | +6.7% |
| Gross profit | +10.3% | +9.6% | +8.9% | +6.9% |
| Operating income | +18.6% | +25.7% | +8.0% | +4.7% |
| Net income | +30.4% | +30.1% | +9.5% | +8.1% |
| EPS (diluted) | +30.8% | +30.0% | +14.3% | +12.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
UHS quarterly EPS vs estimates
Universal Health beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 27, 2026 (estimate $5.33).
UHS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.36B | $15.83B | $14.28B | $13.40B | $12.64B | $11.56B | $11.38B | $10.77B | $10.41B | $9.77B |
| Cost of revenue | $1.66B | $1.59B | $1.53B | $1.47B | $1.43B | $1.29B | $1.25B | $1.17B | $1.11B | $1.03B |
| Gross profit | $15.71B | $14.24B | $12.75B | $11.93B | $11.21B | $10.27B | $10.13B | $9.60B | $9.30B | $8.73B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $8.23B | $7.67B | $7.25B | $6.89B | $6.28B | $5.73B | $5.70B | $5.36B | $5.08B | $4.68B |
| Total operating expenses | $13.71B | $12.56B | $11.57B | $10.92B | $9.85B | $8.91B | $8.91B | $8.43B | $8.02B | $7.45B |
| Operating income | $1.99B | $1.68B | $1.18B | $1.00B | $1.36B | $1.36B | $1.22B | $1.18B | $1.28B | $1.28B |
| Interest income | $1.2M | $1.4M | $653,000 | $126.9M | $83.7M | $2.8M | $469,000 | $1.5M | $81,000 | $150,000 |
| Interest expense | $157.3M | $187.5M | $207.2M | $127.3M | $85.3M | $109.1M | $162.7M | $155.0M | $142.8M | $116.7M |
| Income before taxes | $1.97B | $1.50B | $940.4M | $866.3M | $1.29B | $1.25B | $1.07B | $1.03B | $1.14B | $1.16B |
| Income taxes | $461.0M | $334.8M | $221.1M | $209.3M | $305.7M | $299.3M | $238.8M | $236.6M | $363.7M | $409.2M |
| Net income | $1.49B | $1.14B | $717.8M | $675.6M | $991.6M | $944.0M | $814.9M | $779.7M | $752.3M | $702.4M |
| EBITDA | $2.74B | $2.27B | $1.72B | $1.58B | $1.91B | $1.87B | $1.72B | $1.63B | $1.72B | $1.68B |
| EPS (diluted) | $21.76 | $16.64 | $10.55 | $9.91 | $11.82 | $11.13 | $9.99 | $9.52 | $7.53 | $7.32 |
| Gross margin | 90.4% | 90.0% | 89.3% | 89.0% | 88.7% | 88.9% | 89.0% | 89.2% | 89.4% | 89.4% |
| Operating margin | 11.5% | 10.6% | 8.2% | 7.5% | 10.8% | 11.8% | 10.7% | 10.9% | 12.3% | 13.1% |
| Net margin | 8.6% | 7.2% | 5.0% | 5.0% | 7.8% | 8.2% | 7.2% | 7.2% | 7.2% | 7.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.64B | $4.50B | $4.49B | $4.50B | $4.28B | $4.10B | $4.11B | $3.96B | $3.91B | $3.84B | $3.70B | $3.56B |
| Cost of revenue | $423.3M | $426.5M | $422.8M | $414.6M | $418.8M | $402.9M | $405.9M | $390.2M | $388.1M | $403.6M | $393.9M | $378.7M |
| Gross profit | $4.21B | $4.07B | $4.06B | $4.08B | $3.87B | $3.70B | $3.71B | $3.57B | $3.52B | $3.44B | $3.31B | $3.18B |
| Sales, general & admin | $2.14B | $2.13B | $2.09B | $2.11B | $2.05B | $1.99B | $1.95B | $1.95B | $1.89B | $1.88B | $1.83B | $1.82B |
| Total operating expenses | $3.70B | $3.57B | $3.55B | $3.56B | $3.36B | $3.24B | $3.24B | $3.19B | $3.08B | $3.05B | $2.98B | $2.90B |
| Operating income | $516.7M | $502.9M | $517.2M | $521.7M | $500.3M | $454.8M | $472.5M | $384.2M | $436.4M | $388.8M | $331.2M | $285.4M |
| Interest income | $102,000 | $91,000 | $247,000 | $186,000 | $35.4M | $407,000 | $389,000 | $368,000 | $353,000 | $315,000 | $114,000 | $53.4M |
| Interest expense | $39.9M | $36.0M | $42.5M | $37.4M | $34.5M | $40.5M | $40.1M | $45.0M | $49.3M | $53.1M | $53.7M | $53.5M |
| Income before taxes | $479.1M | $469.1M | $581.4M | $496.9M | $473.4M | $420.4M | $438.3M | $341.5M | $382.0M | $336.1M | $281.1M | $220.5M |
| Income taxes | $114.5M | $110.4M | $133.6M | $117.8M | $110.8M | $98.8M | $101.3M | $75.6M | $87.7M | $70.3M | $61.5M | $52.5M |
| Net income | $358.4M | $348.7M | $445.9M | $373.0M | $353.2M | $316.7M | $332.4M | $258.7M | $289.2M | $261.8M | $216.4M | $167.0M |
| EBITDA | $684.0M | $660.5M | $786.0M | $689.3M | $659.9M | $608.0M | $624.0M | $534.9M | $577.5M | $529.0M | $479.0M | $409.9M |
| EPS (diluted) | $5.98 | $5.62 | $5.88 | $5.69 | $5.35 | $4.84 | $4.92 | $3.71 | $4.31 | $3.70 | $3.13 | $2.55 |
| Gross margin | 90.9% | 90.5% | 90.6% | 90.8% | 90.2% | 90.2% | 90.1% | 90.2% | 90.1% | 89.5% | 89.4% | 89.4% |
| Operating margin | 11.1% | 11.2% | 11.5% | 11.6% | 11.7% | 11.1% | 11.5% | 9.7% | 11.2% | 10.1% | 8.9% | 8.0% |
| Net margin | 7.7% | 7.8% | 9.9% | 8.3% | 8.2% | 7.7% | 8.1% | 6.5% | 7.4% | 6.8% | 5.8% | 4.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in UHS's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
UHS financial results
In fiscal year 2025 (ended December 31, 2025), Universal Health reported revenue of $17.4 billion, up 9.7% from the year before. It had net income of $1.5 billion (up 30.4%), a net profit margin of 8.6%. Diluted earnings per share came to $21.76. Over five years revenue grew at an average rate of 8.5% a year.
See the UHS stock overview for the latest quote and news, or the UHS chart for price history and technical indicators.
UHS income statement FAQ
What is Universal Health's annual revenue?
Universal Health reported total revenue of $17.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.7% from $15.8 billion the previous year.
Is Universal Health profitable?
Yes. Universal Health reported net income of $1.5 billion in fiscal 2025, a net profit margin of 8.6%; its operating margin was 11.5%.
What is Universal Health's gross margin?
Universal Health's gross margin was 90.4% in fiscal 2025: for every $100 of revenue, Universal Health kept $90 after the direct cost of its products and services.
How fast is Universal Health growing?
Revenue grew 8.5% a year on average over the last five fiscal years, from $11.6 billion to $17.4 billion.
What are Universal Health's earnings per share?
Universal Health earned $21.76 per diluted share in fiscal 2025, compared with $16.64 a year earlier.
When will Universal Health report its next earnings?
Universal Health is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Universal Health's fiscal year end?
Universal Health's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.