Universal Health Services (UHS) FY2025 10-K Annual Report

Filed: Feb 25, 2026
Health Care
Services-General Medical & Surgical Hospitals, NECSEC EDGAR

Universal Health Services (UHS) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 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.

Universal Health Services FY2025 10-K Analysis

Business Overview

  • Dual-segment operator: acute care hospitals (57% of revenue) and behavioral health facilities (43%), spanning 40 states, D.C., UK, and Puerto Rico
  • UK behavioral health revenue grew to $1.001B in 2025 from $880M in 2024; total UK assets $1.531B vs $1.358B
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Management Discussion & Analysis

  • Revenue not explicitly stated as a total figure in the provided MD&A text; Medicaid legislative risk flagged at $432M–$480M annual net benefit reduction by 2032
  • Share repurchases ~4.7 million shares at ~$899M aggregate cost in 2025; remaining buyback authorization ~$1.425B as of Dec 31, 2025
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Risk Factors

  • One Big Beautiful Bill Act (July 4, 2025) to cut Medicaid provider fee threshold from 6% to 3.5% by 2032, reducing UHS net benefit by $432M–$480M annually
  • UK behavioral health operations generated $1.001B revenue in 2025 with $1.531B total assets, exposed to pound sterling fluctuations and NHS contract dependency
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Universal Health Services FY2025 Key Financial Metrics
XBRL

Revenue

$17.4B

+9.7% YoY

Net Income

$1.5B

+30.4% YoY

Operating Margin

11.5%

+86bp YoY

Net Margin

8.6%

+136bp YoY

ROE

20.5%

+333bp YoY

Total Assets

$15.5B

+7.3% YoY

EPS (Diluted)

$23.10

+37.3% YoY

Operating Cash Flow

$1.9B

-9.8% YoY

Source: XBRL data from Universal Health Services FY2025 10-K filing on SEC EDGAR. All figures in USD.

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