Surgery Partners, Inc. (SGRY) FY2025 10-K Annual Report
Surgery Partners, Inc. (SGRY) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 2, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Surgery Partners, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Management and operation of surgical facilities primarily focused on outpatient surgical procedures
- • New emphasis: Increased revenue diversification from management and administrative services in non-owned surgical facilities
Management Discussion & Analysis
- • Adjusted EBITDA $526.2M in 2025 vs $508.2M in 2024, income before taxes $116.9M vs $147.1M in 2024
- • Operating cash flow $274.3M in 2025, Credit Agreement EBITDA $578.2M reflecting acquisitions and synergies
Risk Factors
- • Regulatory risk from One Big Beautiful Bill Act (OBBBA), effective July 4, 2025, increasing Medicaid and Medicare regulatory burdens
- • Macroeconomic exposure to government payors, comprising 42.8% of patient service revenues in 2025
Surgery Partners, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$3.3B
▲ +6.2% YoY
Net Income
-$78M
▲ +53.7% YoY
Operating Margin
11.8%
▲ +57bp YoY
Net Margin
-2.4%
▲ +304bp YoY
ROE
-4.5%
▲ +484bp YoY
Total Assets
$8.1B
▲ +2.9% YoY
EPS (Diluted)
$-0.61
▲ +54.1% YoY
Operating Cash Flow
$274M
▼ -8.6% YoY
Source: XBRL data from Surgery Partners, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on Surgery Partners, Inc.
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.