Reading the tape
NASDAQ: SGRY
Surgery Partners, Inc.
Healthcare · Medical - Care Facilities
Market Cap
$1.85B
52w High
$24.18
52w Low
$11.41
P/E
-24.05
Volume
2.75M
Outstanding Shares
129.42M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionHigh confidence
1Y Price: -38.48%Revenue (TTM): 5.38%FCF (TTM): 13.27%P/FCF: 38th pct
What changed
The stock fell 38.48% over the last year. Revenue grew 5.38% over the trailing twelve months. Operating margin moved from 10.55% to 11.77%. Free cash flow grew 13.27% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 38th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 11.77%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Surgery Partners, Inc., through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States.
CEOJ. Eric Evans
SectorHealthcare
IndustryMedical - Care Facilities
Employees15,000
IPO dateSep 30, 2015
Valuation
Forward P/E—
EV/EBITDA10.17
Enterprise value$5.75B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth4.5%
Gross margin22.83%▼3.43%vs FY2024
Operating margin11.77%▲5.11%vs FY2024
ROE-4.55%▲51.58%vs FY2024
Analyst consensus
RatingBuy
Target price$18.60▲30.43%
14
Buy
8
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 5, 2026
Q2 FY26 · EPS est -$0.15 · Revenue est $797.69M
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