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Surgery Partners, Inc. SGRY Q4 2025 Annual earnings

Reported March 2, 2026 · After market close

Revenue$885.0MBeat by $18.2M
EPS$0.12Miss by $0.19
Revenue estimate$866.8M
EPS estimate$0.31

Next report

Aug 10, 2026 (In 1 week)
Revenue estimate$830.0M
EPS estimate$0.02

Financials

Q4 2025

Income statement

See full
Revenue$885.0M+2.4%
Operating income$110.2M-13.3%
Net income-$15.0M+86.2%
EPS (diluted)-$0.11+87.2%

Balance sheet

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Cash & equivalents$239.9M-11.0%
Total debt$5.1B+9.9%
Total equity$1.7B-4.3%
Total assets$8.1B+2.9%

Cash flow

See full
Operating cash flow$103.4M-7.2%
CapEx$12.8M-42.6%
Free cash flow$90.6M+1.7%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$2B-25.7%
Enterprise value$6.82B-2.9%
P/S0.6×-0.3×

Profitability

See full
Operating margin11.8%+0.6pp
Net margin-2.4%-0.8pp
FCF margin5.9%-0.8pp

Returns & leverage

See full
Return on equity-4.4%-1.5pp
Debt / equity3×+0.4×
Current ratio1.9×+0.1×

Segments

By product

See full
Private insurance$460.5M-4.5%
Government$368.6M+13.5%
Other service revenues$19.8M+19.3%
Self-pay$19.6M-11.3%
Other$16.5M-12.7%

By segment

See full
Surgical Facilities$885.0M+2.4%

Versus estimates

Revenue

Q1 2026$810.9MBeat by $13.2M
Q4 2025$885.0MBeat by $18.2M
Q3 2025$821.5MMiss by $45.0MQ2 2025$826.2MBeat by $2.7MQ1 2025$776.0MMiss by $1.1MQ4 2024$864.4MBeat by $64.3M

Diluted EPS

Q1 2026-$0.03Beat by $0.12
Q4 2025$0.12Miss by $0.19
Q3 2025$0.13Miss by $0.06Q2 2025$0.17Beat by $0.01Q1 2025$0.04Miss by $0.04Q4 2024$0.44Beat by $0.06

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Questions, answered.

When did Surgery Partners, Inc. report Q4 2025 earnings?
Surgery Partners, Inc. (SGRY) reported Q4 2025 earnings on March 2, 2026 after market close.
What were Surgery Partners, Inc.'s Q4 2025 revenue and EPS?
Surgery Partners, Inc. reported revenue of $885.0M and eps of $0.12 for Q4 2025.
Did Surgery Partners, Inc. beat estimates in Q4 2025?
Revenue beat the consensus estimate of $866.8M by $18.2M. EPS missed the consensus estimate of $0.31 by $0.19.
How did Surgery Partners, Inc.'s Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.4% from $864.4M a year earlier and eps declined 72.7% from $0.44.
Where can I find Surgery Partners, Inc.'s Q4 2025 SEC filings?
You can read the 8-K earnings release (0001638833-26-000006) and the 10-K periodic report (0001638833-26-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.