12 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 12.2% per year over the past 5 years.
Operating margin has expanded, at 11.8% in the latest year.
Free cash flow has declined 0.8% per year over the past 5 years.
Financial health
Total debt ($3.7B) exceeds cash ($240M); net debt is $3.5B.
Total debt has grown slower than revenue (5.4% vs 12.2% per year).
Total debt is 6.6× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$3.3B
-$78M
0.0%
11.8%
$196M
$3.7B
$240M
2024
$3.1B
-$168M
0.0%
11.2%
$210M
$3.4B
$270M
2023
$2.7B
-$12M
0.0%
12.0%
$205M
$2.8B
$196M
2022
$2.5B
-$55M
0.0%
13.6%
$78M
$2.6B
$283M
2021
$2.2B
-$71M
0.0%
13.6%
$30M
$3.0B
$390M
2020
$1.9B
-$116M
0.0%
9.8%
$204M
$2.9B
$318M
2019
$1.8B
-$75M
23.1%
12.9%
$56M
$2.6B
$93M
2018
$1.8B
-$206M
23.1%
4.4%
$105M
$2.3B
$184M
2016
$1.1B
$9M
28.3%
17.2%
$86M
$1.5B
$70M
2015
—
$1M
—
—
$51M
$1.3B
$58M
2014
—
-$66M
—
—
$14M
—
$75M
2013
—
-$9M
—
—
$45M
—
$13M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$811M
-$36M
0.0%
8.1%
-$4M
—
$182M
Dec '25
$885M
-$15M
0.0%
12.5%
$91M
$3.7B
$240M
Sep '25
$822M
-$23M
0.0%
12.9%
$64M
—
$203M
Jun '25
$826M
-$3M
0.0%
13.5%
$58M
—
$250M
Mar '25
$776M
-$38M
0.0%
8.0%
-$17M
—
$229M
Dec '24
$864M
-$109M
0.0%
14.7%
$89M
$3.4B
$270M
Sep '24
$770M
-$32M
0.0%
7.9%
$45M
—
$222M
Jun '24
$762M
-$16M
0.0%
11.1%
$56M
—
$214M
Mar '24
$717M
-$12M
0.0%
10.6%
$20M
—
$185M
Dec '23
$735M
-$1M
0.0%
13.8%
$43M
$2.8B
$196M
Sep '23
$674M
-$5M
0.0%
12.3%
$86M
—
$236M
Jun '23
$668M
$19M
0.0%
14.6%
$26M
—
$177M
Mar '23
$666M
-$25M
0.0%
7.0%
$50M
—
$246M
Dec '22
$707M
-$23M
0.0%
13.3%
-$16M
$2.6B
$283M
Sep '22
$621M
-$25M
0.0%
11.9%
$12M
—
$155M
Jun '22
$615M
-$18M
0.0%
12.4%
$20M
—
$227M
Mar '22
$596M
$12M
0.0%
16.8%
$62M
—
$379M
Dec '21
$610M
-$100000
0.0%
18.8%
$6M
$3.0B
$390M
Sep '21
$559M
-$23M
0.0%
11.4%
-$600000
—
$330M
Jun '21
$543M
-$27M
0.0%
11.0%
-$11M
—
$465M
Valuation over time
How the market has priced SGRY against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 1.8× (Mar '23) to 0.6× (Jun '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is SGRY growing its revenue and profit?
Over the past 5 years, Surgery Partners, Inc.'s revenue has grown 12.2% per year. These are computed facts, not advice.
How much debt does SGRY have?
As of FY2025, Surgery Partners, Inc. reported $3.7B of total debt against $240M of cash.
What is SGRY's profit margin?
In FY2025, gross margin was —, operating margin 11.8%, and net margin -2.4%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.