SGRY

MKT CAP:$2B

Surgery Partners, Inc.

Market Cap

$2B

Healthcare·Medical - Care Facilities·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$14.63-$0.63 (-4.13%)

Apr 23, 2026

Company Details

Surgery Partners, Inc., through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company operates through two segments, Surgical Facility Services and Ancillary Services. ...

CEO

J. Eric Evans

IPO Date

Sep 30, 2015

Website

www.surgerypartners.com

Key Metrics TTM

Revenue

$2.7B

— YoY

Net Income

-$48M

EPS (Diluted)

-$0.23

Free Cash Flow

$173M

Revenue / Share

$21.52

Gross Margin

24.2%

Operating Margin

12.1%

Net Margin

-1.8%

FCF Margin

6.4%

P/S

0.7x

P/E

—

Earnings Reports

Q3 2024

May 11, 2026

PENDING

Q2 2024

Aug 6, 2024

$762MEPS -$0.12

Q4 2023

Feb 26, 2024

$735MEPS -$0.01

Q3 2023

Nov 7, 2023

$674MEPS $0.29

Q2 2021

Aug 4, 2021

$543MEPS -$0.39

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 15	$263M	$80M	$21M
Q4 17	$460M	$122M	$80M
Q2 21	$543M	$118M	$60M
Q3 23	$674M	$166M	$83M
Q4 23	$735M	$194M	$101M
Q2 24	$762M	$179M	$85M

Valuation

Quarter	P/S	P/E
Q4 15	—	—
Q4 17	—	—
Q2 21	—	—
Q3 23	1.0x	—
Q4 23	0.8x	—
Q2 24	0.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 17	$10M	$5M
Q4 17	$54M	$45M
Q2 21	$2M	-$11M
Q3 23	$105M	$86M
Q4 23	$63M	$43M
Q2 24	$83M	$56M

Capital Expenditures

Quarter	CapEx
Q3 17	$6M
Q4 17	$9M
Q2 21	$14M
Q3 23	$19M
Q4 23	$20M
Q2 24	$27M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 23	+179.3%	+161.8%
Q2 24	+65.5%	+78.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 17	$3M	—
Q4 17	$204.0K	0.0%
Q2 21	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$5M	0.6%
Q2 24	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q4 15	$21M
Q4 17	$21M
Q2 21	$25M
Q3 23	$37M
Q4 23	$21M
Q2 24	$40M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$379M	$0	$379M
Q2 22	$227M	$0	$227M
Q3 22	$155M	$0	$155M
Q4 22	$283M	$0	$283M
Q1 23	$246M	$0	$246M
Q2 23	$177M	$0	$177M
Q3 23	$236M	$0	$236M
Q4 23	$196M	$0	$196M
Q1 24	$185M	$0	$185M
Q2 24	$214M	$0	$214M
Q3 24	$222M	$0	$222M
Q4 24	$270M	$0	$270M
Q1 25	$229M	$0	$229M
Q2 25	$250M	$0	$250M
Q3 25	$203M	$0	$203M
Q4 25	$240M	$0	$240M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 15	48M	—	—
Q4 17	48M	+0.3%	—
Q2 21	69M	+43.4%	—
Q3 23	126M	+81.5%	—
Q4 23	126M	+0.0%	+161.2%
Q2 24	126M	+0.3%	+161.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 15	$51.6K	5K
Q4 17	$43.4K	11K
Q2 21	$50.3K	11K
Q3 23	$55.3K	12K
Q4 23	$54.5K	14K
Q2 24	$56.5K	14K

Revenue / Employee