Universal Health Services, Inc.

UHS · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$13,622	$11,836	$10,405	$10,061	$10,422	$11,052	$11,531	$9,369	$9,111	$8,550	$9,604	$10,995	$7,966	$4,681	$3,777	$4,202	$2,983	$1,902	$2,733	$3,024	$2,601	$2,566	$3,206	$2,694	$2,561	$3,365	$1,131	$1,687	$1,629	$859	$625	$350	$273	$197	$191	$126	$136	$91	$66	$122	$253
Enterprise value	$19,055	$16,748	$15,700	$15,274	$14,969	$14,107	$15,855	$13,339	$13,138	$12,717	$13,034	$14,297	$11,308	$8,440	$7,441	$8,134	$3,974	$3,123	$3,729	$4,006	$3,396	$3,588	$4,211	$3,505	$3,386	$4,024	$1,663	$2,237	$1,907	$1,141	$869	$441	$352	$309	$348	$317	$334	$320	$313	$443	$597
P/E (TTM) at period end	9.15×	10.36×	14.50×	14.91×	10.53×	11.75×	14.19×	12.03×	12.11×	12.17×	14.11×	20.16×	15.60×	10.56×	–	–	–	9.54×	16.04×	11.65×	10.80×	15.14×	16.09×	15.36×	25.68×	36.04×	14.54×	21.19×	24.21×	16.95×	17.61×	12.19×	11.37×	9.83×	9.42×	10.86×	15.10×	14.20×	218.75×	10.94×	11.68×
P/S (TTM) at period end	0.78×	0.75×	0.73×	0.75×	0.82×	0.96×	1.01×	0.87×	0.88×	0.88×	1.06×	1.34×	1.08×	0.67×	0.56×	0.86×	0.57×	0.38×	0.58×	0.72×	0.66×	0.65×	0.88×	0.83×	0.90×	1.50×	0.55×	0.90×	1.13×	0.72×	0.67×	0.45×	0.36×	0.27×	0.28×	0.20×	0.23×	0.16×	0.08×	0.18×	0.50×
P/B at period end	1.87×	1.78×	1.69×	1.70×	1.71×	1.75×	2.09×	1.74×	1.83×	1.89×	2.26×	2.94×	2.45×	1.73×	1.64×	2.12×	1.70×	1.23×	1.80×	2.16×	2.16×	2.10×	2.94×	2.94×	3.17×	4.70×	1.76×	2.69×	3.09×	1.90×	2.10×	1.34×	1.22×	0.97×	1.04×	0.75×	0.86×	0.58×	0.43×	0.89×	1.46×
EV / EBITDA (TTM)	7.29×	7.39×	9.01×	9.63×	7.89×	7.55×	9.29×	8.19×	7.60×	7.49×	7.86×	9.94×	8.36×	6.75×	6.24×	11.15×	5.48×	5.15×	6.74×	8.25×	7.11×	7.52×	4.29×	7.72×	8.73×	12.97×	6.17×	8.45×	9.25×	6.48×	6.83×	4.62×	4.22×	3.04×	4.77×	3.56×	4.24×	–	–	–	–
EV / Sales (TTM)	1.10×	1.06×	1.10×	1.14×	1.18×	1.22×	1.39×	1.24×	1.26×	1.30×	1.44×	1.74×	1.53×	1.21×	1.10×	1.66×	0.76×	0.62×	0.78×	0.96×	0.86×	0.91×	1.16×	1.08×	1.19×	1.79×	0.81×	1.19×	1.32×	0.96×	0.93×	0.56×	0.46×	0.42×	0.50×	0.51×	0.57×	0.58×	0.40×	0.66×	1.18×
Returns
Return on equity	20.5%	17.1%	11.7%	11.4%	16.2%	14.9%	14.8%	14.4%	15.1%	15.5%	16.0%	14.6%	15.7%	16.3%	(0.0%)	(0.0%)	(0.1%)	12.9%	11.2%	18.5%	20.0%	13.9%	18.3%	19.1%	12.3%	13.0%	12.1%	12.7%	12.8%	11.2%	11.9%	11.0%	10.7%	9.9%	11.0%	6.9%	5.7%	4.1%	0.2%	8.1%	12.5%
Return on invested capital	12.0%	11.3%	7.9%	6.8%	9.8%	11.0%	9.6%	9.7%	9.6%	9.5%	10.7%	9.8%	9.8%	9.3%	9.7%	5.5%	12.2%	10.4%	9.0%	8.5%	10.0%	8.7%	25.0%	12.1%	10.2%	9.2%	8.7%	8.7%	9.9%	9.0%	9.4%	9.2%	9.9%	8.1%	7.5%	7.1%	7.0%	4.8%	2.5%	5.8%	6.6%
Dividend yield	0.4%	0.5%	0.5%	0.6%	0.6%	0.2%	0.5%	0.4%	0.4%	0.5%	0.4%	0.3%	0.2%	1.2%	0.5%	0.5%	0.6%	0.8%	0.6%	0.6%	0.7%	0.7%	0.1%	–	0.6%	0.2%	1.6%	0.1%	–	–	–	–	–	–	–	–	2.1%	–	–	–	–
Financial health
Current ratio	1.05×	1.27×	1.40×	1.33×	1.14×	1.32×	1.23×	1.34×	0.97×	1.28×	1.56×	1.37×	1.35×	1.57×	1.63×	1.61×	1.37×	1.41×	1.59×	1.45×	1.16×	1.72×	1.63×	1.60×	1.70×	1.91×	1.86×	1.88×	1.43×	1.38×	1.16×	1.14×	1.18×	1.40×	1.11×	1.41×	1.03×	1.01×	1.12×	1.36×	1.08×
Debt / equity	0.65×	0.68×	0.80×	0.81×	0.69×	0.61×	0.72×	0.74×	0.81×	0.91×	0.81×	0.88×	1.02×	1.37×	1.59×	1.98×	0.55×	0.65×	0.67×	0.59×	0.53×	0.71×	0.81×	0.75×	0.89×	0.77×	0.66×	0.67×	0.53×	0.62×	0.82×	0.35×	0.35×	0.59×	0.98×	1.28×	1.39×	1.55×	1.72×	2.36×	2.17×
Effective tax rate	23.4%	22.4%	23.5%	24.2%	23.6%	23.9%	22.4%	22.9%	32.0%	35.4%	34.5%	34.9%	36.3%	36.0%	35.5%	35.6%	35.9%	34.6%	38.0%	37.1%	36.2%	37.3%	37.3%	36.7%	36.2%	36.1%	36.6%	35.3%	36.4%	36.6%	33.0%	38.8%	31.6%	51.1%	33.0%	37.0%	36.2%	57.0%	82.5%	60.4%	50.1%
Share count
Diluted shares outstanding	64	68	70	74	84	86	89	94	96	98	101	101	99	98	99	98	98	101	107	116	125	130	130	134	134	130	128	133	133	123	113	115	112	111	111	110	116	116	120	140	140

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$18,114	$17,365	$15,828	$14,282	$13,399	$12,642	$11,559	$11,378	$10,772	$10,410	$9,766	$9,043	$8,205	$7,368	$6,961	$6,760	$4,900	$5,202	$5,022	$4,751	$4,191	$3,935	$3,938	$3,644	$3,259	$2,840	$2,242	$2,042	$1,874	$1,443	$1,190	$931	$782	$762	$731	$691	$627	$587	$554	$775	$667	$506
Cost of revenue	($1,687)	($1,659)	($1,588)	($1,533)	($1,474)	($1,427)	($1,288)	($1,251)	($1,169)	($1,105)	($1,031)	($974)	–	–	($800)	–	–	($2,904)	($2,828)	–	–	($2,116)	–	($1,119)	($1,213)	($668)	($817)	($475)	($438)	($575)	–	($361)	($298)	($644)	($596)	($583)	($538)	($508)	($472)	($420)	($367)	($286)
Gross profit	$16,427	$15,706	$14,240	$12,749	$11,925	$11,215	$10,271	$10,127	$9,604	$9,305	$8,735	$8,069	–	–	$6,162	–	–	$2,299	$2,195	–	–	$1,819	–	$2,518	$2,046	$2,172	$1,426	$1,567	$1,436	$868	–	$570	$484	$118	$135	$108	$89	$79	$82	$355	$300	$220
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($8,347)	($8,085)	($7,519)	($7,107)	($6,762)	($6,164)	($5,613)	($5,589)	($5,255)	($4,981)	($4,586)	($4,212)	($3,845)	($3,605)	($3,441)	($3,326)	($2,363)	($70)	($70)	($2,073)	($1,829)	($1,350)	($1,231)	($1,562)	($1,592)	($1,784)	($1,115)	($1,298)	($1,172)	($662)	($539)	($443)	($388)	($34)	($34)	($34)	–	–	–	($259)	($193)	($123)
Total operating expenses	($14,369)	($13,712)	($12,558)	($11,574)	($10,921)	($9,852)	($8,912)	($8,911)	($8,428)	($8,025)	($7,453)	($6,810)	–	–	($5,219)	–	–	($1,778)	($1,785)	–	–	($1,505)	–	($1,682)	($1,717)	($1,912)	($1,228)	($1,406)	($1,277)	($742)	–	($494)	($431)	($74)	($83)	($70)	($48)	($40)	($39)	($298)	($233)	($152)
Total costs and expenses	($16,056)	($15,371)	($14,146)	($13,107)	($12,396)	($11,279)	($10,201)	($10,162)	($9,597)	($9,130)	($8,485)	($7,784)	($7,142)	($6,352)	($6,019)	($5,863)	($4,394)	($4,682)	($4,612)	($4,381)	($3,870)	($3,621)	($3,628)	($2,807)	($2,929)	($2,580)	($2,045)	($1,881)	($1,715)	($1,317)	($1,086)	($855)	($729)	($718)	($679)	($653)	($586)	($548)	($511)	($718)	($600)	($438)
Operating income	$2,058	$1,994	$1,682	$1,175	$1,004	$1,363	$1,358	$1,216	$1,175	$1,280	$1,281	$1,259	$1,063	$1,015	$943	$897	$506	$521	$410	$370	$322	$314	$311	$837	$330	$260	$197	$161	$159	$126	$104	$76	$53	$44	$52	$38	$41	$39	$43	$57	$67	$68
Earnings
EBITDA	$2,700	$2,613	$2,267	$1,743	$1,585	$1,896	$1,869	$1,706	$1,628	$1,728	$1,698	$1,658	$1,439	$1,353	$1,251	$1,193	$730	$725	$606	$554	$485	$478	$477	$981	$454	$388	$310	$270	$265	$206	$176	$127	$96	$83	$101	$73	$89	$79	–	–	–	–
Interest income	–	$1	$1	$1	$0	$2	$3	–	–	$0	$0	$0	$1	$6	$0	$0	$0	–	–	$1	$2	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($158)	($156)	($186)	($207)	($127)	($84)	($106)	($163)	($155)	($145)	($125)	($113)	($134)	($146)	($179)	($201)	($78)	($46)	($53)	($96)	($34)	($33)	($64)	($38)	($52)	($104)	($30)	($44)	($36)	($19)	($29)	($23)	($6)	($9)	($11)	($7)	($22)	($25)	($28)	($43)	($38)	($24)
Pre-tax income	$2,027	$1,972	$1,498	$940	$866	$1,293	$1,252	$1,066	$1,035	$1,135	$1,156	$1,146	$930	$869	$764	$696	$428	$475	$357	$275	$412	$172	$271	$318	$277	$158	$146	$123	$123	$106	$80	$53	$47	$35	$41	$30	$18	$14	$15	$14	$28	$44
Income tax expense	($476)	($461)	($335)	($221)	($209)	($306)	($299)	($239)	($237)	($364)	($409)	($395)	($325)	($315)	($275)	($247)	($152)	($170)	($123)	($105)	($153)	($62)	($101)	($118)	($102)	($57)	($53)	($45)	($44)	($39)	($29)	($18)	($18)	($11)	($21)	($10)	($7)	($5)	($8)	($11)	($17)	($22)
Net income	$1,526	$1,489	$1,142	$718	$676	$992	$944	$815	$780	$752	$702	$681	$545	$511	$443	$398	$230	$260	$199	$170	$259	$241	$169	$199	$175	$100	$93	$78	$80	$67	$51	$36	$29	$24	$20	$20	$12	$9	$6	$0	$11	$22
Per share
Diluted EPS (GAAP)	$24.50	$23.10	$16.82	$10.23	$9.14	$11.82	$10.99	$9.13	$8.31	$7.81	$7.14	$6.76	$5.42	$5.14	$4.53	$4.04	$2.34	$2.64	$1.96	$1.59	$2.28	$2.00	$1.38	$1.60	$1.37	$0.80	$0.75	$0.61	$0.60	$0.51	$0.41	$0.32	$0.25	$0.22	$0.18	$0.18	$0.11	$0.0775	$0.055	$0.0025	$0.08	$0.16
Basic EPS (GAAP)	$24.78	$23.42	$17.16	$10.35	$9.23	$11.99	$11.06	$9.16	$8.35	$7.86	$7.22	$6.89	$5.52	$5.21	$4.57	$4.09	$2.37	$2.65	$1.96	$1.60	$2.38	$2.17	$1.47	$1.73	$1.47	$0.84	$0.78	$0.62	$0.62	$0.52	$0.42	$0.32	$0.26	$0.22	$0.18	$0.18	$0.11	$0.0775	$0.055	$0.0025	$0.08	$0.16
Basic shares outstanding	62	64	67	69	73	83	85	89	93	96	97	99	99	98	97	97	97	98	101	107	109	111	115	119	119	120	120	126	130	129	120	113	114	108	111	111	110	116	116	120	140	140
Margins
Gross margin	90.7%	90.4%	90.0%	89.3%	89.0%	88.7%	88.9%	89.0%	89.2%	89.4%	89.4%	89.2%	–	–	88.5%	–	–	44.2%	43.7%	–	–	46.2%	–	69.1%	62.8%	76.5%	63.6%	76.7%	76.6%	60.2%	–	61.2%	61.9%	15.4%	18.5%	15.6%	14.2%	13.4%	14.9%	45.8%	44.9%	43.5%
Operating margin	11.4%	11.5%	10.6%	8.2%	7.5%	10.8%	11.8%	10.7%	10.9%	12.3%	13.1%	13.9%	13.0%	13.8%	13.5%	13.3%	10.3%	10.0%	8.2%	7.8%	7.7%	8.0%	7.9%	23.0%	10.1%	9.2%	8.8%	7.9%	8.5%	8.7%	8.8%	8.1%	6.8%	5.7%	7.2%	5.5%	6.5%	6.6%	7.8%	7.4%	10.0%	13.4%
Net margin	8.4%	8.6%	7.2%	5.0%	5.0%	7.8%	8.2%	7.2%	7.2%	7.2%	7.2%	7.5%	6.6%	6.9%	6.4%	5.9%	4.7%	5.0%	4.0%	3.6%	6.2%	6.1%	4.3%	5.5%	5.4%	3.5%	4.2%	3.8%	4.2%	4.7%	4.3%	3.8%	3.7%	3.2%	2.7%	2.9%	1.8%	1.5%	1.2%	0.0%	1.7%	4.3%

Analyst consensus

Hold44 analysts

Bearish · 2 · Hold · 25 · Bullish · 17

Earnings history

	EPS	Estimate
Q3 2024	$3.71	$3.65	Beat
Q4 2024	$4.92	$4.21	Beat
Q1 2025	$4.84	$4.35	Beat
Q2 2025	$5.35	$4.92	Beat
Q3 2025	$5.69	$4.66	Beat
Q4 2025	$5.88	$5.92	Miss
Q1 2026	$5.62	$5.41	Beat
Q2 2026	$5.98	$5.94	Beat

Peers

Company overview

IPO dateJul 9, 1981

CEOMarc D. Miller

Employees101,500

SectorHealthcare

IndustryMedical - Care Facilities

CountryUS

ExchangeNew York Stock Exchange

Websiteuhs.com

Universal Health Services, Inc. (UHS), operating through its various divisions, is a healthcare entity that both owns and manages a network of acute care hospitals, along with outpatient and specialized behavioral health treatment centers. Its business operations are strategically bifurcated into two main segments: Acute Care Hospital Services and Behavioral Health Care Services. The hospitals under its management provide a comprehensive spectrum of medical provisions, encompassing general and specialty surgical interventions, internal medicine, obstetrics, urgent and emergency department services, diagnostic imaging (radiology), cancer therapy (oncology), advanced diagnostic procedures, cardiac care, pediatric medicine, pharmaceutical services, and mental health support. As of a reported date of February 24, 2022, the company's significant presence included the ownership or operation of 363 inpatient facilities, complemented by 40 outpatient and other specialized sites. These facilities are distributed across 39 U.S. states, the District of Columbia, the United Kingdom, and Puerto Rico. Beyond direct patient care, UHS also extends into commercial health insurance provision and offers a variety of crucial management support functions. These include centralized procurement, information technology infrastructure, financial oversight and control mechanisms, strategic facilities planning, physician talent acquisition, administrative staff management, marketing initiatives, and public relations efforts. Universal Health Services, Inc. was established in 1978 and maintains its principal executive offices in King of Prussia, Pennsylvania.

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