What is Surgery Partners, Inc.'s net debt?

Surgery Partners, Inc. (SGRY) reported net debt of $4.87B in Q1 2026.

How has Surgery Partners, Inc.'s net debt changed year-over-year?

Surgery Partners, Inc.'s net debt increased by 5.8% year-over-year, from $4.6B to $4.87B.

What is the long-term trend for Surgery Partners, Inc.'s net debt?

Over 5 years (2020 to 2025), Surgery Partners, Inc.'s net debt has grown at a 8.4% compound annual growth rate (CAGR), from $3.22B to $4.82B.

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.

Surgery Partners, Inc. SGRY Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$810.9M+4.5%

Operating income$65.8M+6.3%

Net income-$35.9M+4.8%

EPS (diluted)-$0.28+6.7%

Balance sheet

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Cash & equivalents$182.3M-20.5%

Total debt$5.1B+4.6%

Total equity$1.7B-3.0%

Total assets$8.0B+1.2%

Cash flow

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Operating cash flow$11.7M+95.0%

CapEx$16.0M-29.5%

Free cash flow-$4.3M+74.3%

Valuation

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Market cap$1.9B-49.1%

Enterprise value$6.77B-16.0%

P/S0.6×-0.6×

Profitability

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Gross margin23.1%—

Operating margin11.8%+1.2pp

Net margin-2.3%-0.9pp

FCF margin6.2%+0.8pp

Returns & leverage

See full

Return on equity-4.4%-1.6pp

Debt / equity3×+0.2×

Current ratio1.9×0.0×

Where this comes from

Calculated from Surgery Partners, Inc.’s reported figures.

$5.1Btotal debt−$182.3Mcash and equivalents=$4.87B

The official record: Surgery Partners, Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Surgery Partners, Inc.'s net debt?: Surgery Partners, Inc. (SGRY) reported net debt of $4.87B in Q1 2026.
How has Surgery Partners, Inc.'s net debt changed year-over-year?: Surgery Partners, Inc.'s net debt increased by 5.8% year-over-year, from $4.6B to $4.87B.
What is the long-term trend for Surgery Partners, Inc.'s net debt?: Over 5 years (2020 to 2025), Surgery Partners, Inc.'s net debt has grown at a 8.4% compound annual growth rate (CAGR), from $3.22B to $4.82B.
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.