Surgery Partners (SGRY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Surgery Partners

NasdaqGS•Healthcare•Medical Care Facilities

$13.93+0.28(0.02%)Pre-market

Market Cap

$1.72B

P/S

0.5x

P/B

0.6x

Surgery Partners, Inc., together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery. It offers emergency departments; ancillary services such as physician practices and diagnostic testing; multi-specialty physician practices; urgent care facilities; and anesthesia services. In addition, it offers single- and multi-specialty facilities. Surgery Partners, Inc. was founded in 2004 and is headquartered in Brentwood, Tennessee.

How this company scores

AverageMetricSide Score: 55/100

Strongest: Profitability (17/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability17/25

Growth13/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality13/25

Strengths

Long cash runwayProfit converts from growthConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 6063.5x5y range 6063.5x – 6063.5x

P/S · 0.5x5y range 0.4x – 2.1x

Currently below its 20-quarter median.

P/B · 0.6x5y range 0.5x – 2.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

FCF consistently trails net income (avg -4.5x) — earnings may be inflated by non-cash items or aggressive accounting.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $1.72B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.37B
Q. Revenue: $848.90M
TTM EBITDA: $561.00M
TTM Op. Income: $383.80M
Q. Op. Income: $102.10M
TTM Net Income: $-88.60M
Q. Net Income: $-15.00M
EPS: $-0.12
Shares Out.: $128.82M

$3.37B in TTM revenue grew 4.0% YoY, reaching $848.90M last quarter. TTM EBITDA of $561.00M and TTM operating income of $383.80M show growth is flowing through to the bottom line. However, net income is negative at $88.60M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 16.7%
Op. Margin: 12.0%
Net Margin: -1.8%

Op. margin of 12.0% is down 1.5% YoY — costs are rising relative to revenue. Net margin at -1.8% Over the past year, operating margin is down 11% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.5x
P/B Ratio: 0.6x

P/S of 0.5x and P/B of 0.6x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $8.05B
Cash: $216.70M
Long-Term Debt: $3.65B
Book Value: $3.10B
D/E Ratio: 1.2
Debt/EBITDA: 25.8

With $8.05B in assets and $3.65B in long-term debt, D/E is 1.2and book value is $3.10B — moderate leverage. Over the past year, debt/equity is up 7% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $59.30M
TTM Free Cash Flow: $187.60M
FCF Margin: 5.6%
FCF / Net Income: -2.1

TTM FCF of $187.60M on $59.30M in operating cash flow. The FCF / Net Income ratio of -2.1x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 7% — a weakening trend.