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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

Nov 9, 2026 (in 2 months)
Revenue estimate$854.8M
EPS estimate$0.10

Financials

Q4 2025

Income statement

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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

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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
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Market cap$2B-25.7%
Enterprise value$6.82B-2.9%
P/S0.6×-0.3×

Profitability

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

Returns & leverage

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

Segments

By product

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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

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Surgical Facilities$885.0M+2.4%

FAQ

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.