What is Select Medical Holdings's net debt?

Select Medical Holdings (SEM) reported net debt of $2.95B in Q1 2026.

How has Select Medical Holdings's net debt changed year-over-year?

Select Medical Holdings's net debt increased by 8.6% year-over-year, from $2.71B to $2.95B.

What is the long-term trend for Select Medical Holdings's net debt?

Over 5 years (2020 to 2025), Select Medical Holdings's net debt has grown at a -6.0% compound annual growth rate (CAGR), from $3.93B to $2.89B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Select Medical Holdings SEM Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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-0.4×—

ANI PharmaceuticalsANIP

-0×-2.5×

Global Net LeaseGNL

-0.2×-0.1×

Healthcare Services GroupHCSG

-1.3×-22.6×

Global PartnersGLP

1.7×+0.2×

Ivanhoe ElectricIE

-19.6×—

Other financials

Income statement

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Revenue$1.4B+5.0%

Gross profit$175.5M-2.8%

Operating income$98.4M-12.7%

Net income$44.0M-22.4%

EPS (diluted)$0.35-20.5%

Balance sheet

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Cash & equivalents$25.7M-51.7%

Total debt$3.0B+7.5%

Total equity$1.8B+2.1%

Total assets$6.0B+6.1%

Cash flow

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Operating cash flow$37.9M+1,195%

CapEx$58.9M+12.5%

Free cash flow-$21.0M+62.3%

Valuation

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Market cap$2.05B-6.2%

Enterprise value$5B+2.1%

P/E15.4×+2.8×

P/S0.4×0.0×

Profitability

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Gross margin11.3%-0.5pp

Operating margin5.8%+0.8pp

Net margin2.4%-0.9pp

FCF margin2.8%-4.1pp

Returns & leverage

See full

Return on equity7.7%-3.6pp

Debt / equity1.7×+0.1×

Current ratio1.1×0.0×

Where this comes from

Calculated from Select Medical Holdings’s reported figures.

$3.0Btotal debt−$25.7Mcash and equivalents=$2.95B

The official record: Select Medical Holdings’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Select Medical Holdings's net debt?: Select Medical Holdings (SEM) reported net debt of $2.95B in Q1 2026.
How has Select Medical Holdings's net debt changed year-over-year?: Select Medical Holdings's net debt increased by 8.6% year-over-year, from $2.71B to $2.95B.
What is the long-term trend for Select Medical Holdings's net debt?: Over 5 years (2020 to 2025), Select Medical Holdings's net debt has grown at a -6.0% compound annual growth rate (CAGR), from $3.93B to $2.89B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.