Surgery Partners, Inc. (SGRY)
Fair ValueFundamental
53
Price
$15.75
Market Cap
$2.02B
Part 1 · What the company is worth
Overview
Surgery Partners, Inc., together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery. It offers emergency departments; ancillary services such as physician practices and diagnostic testing; multi-specialty physician practices; urgent care facilities; and anesthesia services. In addition, it offers single- and multi-specialty facilities. Surgery Partners, Inc. was founded in 2004 and is headquartered in Brentwood, Tennessee.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$3.37B
Trailing 12 months (through 6/30/2026)
Net Income
$-89M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$196M
Total Equity
$1.71B
Total Liabilities
$4.99B
Current Ratio
1.95
Interest Coverage
-
Debt/EBITDA
7.18
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$16.97
Current Price
$15.75
Margin of Safety
+7.2%
Fair Value Range
$14.47 - $19.47
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
-
ROE
-4.5%
P/B Ratio
1.23
P/FCF
10.99
Gross Margin
-
ROIC
4.1%
Profitability Radar
Value Creation (Economic Moat)
ROIC
4.1%
WACC
5.1%
ROIC − WACC
-1.1 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamental Analysis Criteria
Passed (11)
- P/FCF 10.99
- P/B ratio 1.23
- Debt/equity ratio
- Operating margin 11.4%
- Positive free cash flow
- Current ratio
- Revenue growth 5Y 12.2%
- Earnings surprise, average 14.8%
- Share dilution 1.0%
- Net margin trend -2.6% vs -5.6%
- Piotroski F-Score 5/9
Failed (9)
- EPS shows upward trend
- Price CAGR -0.06%
- ROIC 4.1%
- CapEx intensity
- Debt/EBITDA
- Return on tangible assets
- Low reliance on intangibles
- DCF valuation (Fairly Valued)
- ROE -5.3%
Unavailable (6)
- Gross margin –
- Dividend payout –
- Interest coverage
- Price below Graham Number
- PEG ratio (needs P/E > 0 and growth > 0)
- Earnings quality (operating cash flow / net income)
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
Low quality: investigate accounting
Share Dilution
Share count is stable
Institutional Holdings
Well-known investors who own Surgery Partners, Inc.
Latest 13F: quarter ended 06/30/2026
| Investor | Weight in their portfolio | Last quarter |
|---|---|---|
| Howard Marks · Oaktree Capital Management | 0.4% | +$14.5M |
Source: 13F filings with the SEC. Long positions in US stocks only, filed up to 45 days late.
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. J. Eric Evans | CEO & Director | 48 |
| Mr. David T. Doherty CPA | Executive VP & CFO | 53 |
| Ms. Jennifer B. Baldock J.D. | Executive VP and Chief Administrative & Development Officer | 54 |
| Ms. Marissa A. Brittenham | Executive VP & Chief Strategy Officer | 40 |
| Mr. W. Trent Webb | Division President South | 45 |
| Mr. Justin R. Oppenheimer | Executive VP & COO | 40 |
| Mr. Jon Fredrickson | Senior VP & Chief Information Officer | - |
| Ms. Roxanne Womack | Senior VP & Chief Compliance Officer | - |
| Mr. Spencer Clark | General Counsel & Senior VP | - |
| Ms. Shannon Yarrow | Senior Vice President of Managed Care | - |
Audit Risk
9
Board Risk
5
Compensation Risk
4
Shareholder Rights Risk
8
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-03-02
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-10
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-09-17
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much SGRY moves, measured on its daily prices.
More volatile than 80% of the tracked stocks (90-day volatility).
- Volatility 30d
- 61.7%
- Volatility 90d
- 54.7%
- Beta vs S&P 500 (1y)
- 0.68Correlation 0.17
- Max drawdown (12m)
- -49.9%
- ATR (14d, % of price)
- 3.95%
Earnings reactions
How SGRY moved around its past quarterly results.
Next earnings release
Nov 9, 2026 · In 15 days · Before the open
EPS estimate: 0.12Revenue estimate: $796M
What usually happens
- Over the last 12 releases the stock moved a median of 5.4% the next day, up or down.
- Next-day moves: up 6, down 6 (out of 12).
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026 | Before the open | 0.06 | 0.10 | +68.1% | +6.0% | +2.7% | -3.2% |
| May 5, 2026 | Before the open | -0.12 | -0.03 | +74.8% | -0.8% | +0.4% | -3.0% |
| Mar 2, 2026 | After the close | 0.31 | 0.12 | -60.8% | -21.9% | -12.3% | -16.2% |
| Nov 10, 2025 | Before the open | 0.17 | 0.13 | -23.0% | -17.4% | -25.4% | -28.9% |
| Aug 5, 2025 | Before the open | n/a | n/a | n/a | +1.3% | -0.3% | +2.4% |
| May 12, 2025 | Before the open | n/a | n/a | n/a | +1.5% | +5.0% | +8.0% |
| Mar 3, 2025 | Before the open | n/a | n/a | n/a | +2.8% | -0.3% | -0.1% |
| Nov 12, 2024 | Before the open | n/a | n/a | n/a | -10.7% | -5.9% | -30.5% |
| Aug 6, 2024 | Before the open | n/a | n/a | n/a | -4.0% | +3.2% | +1.3% |
| May 7, 2024 | Before the open | n/a | n/a | n/a | +7.4% | +8.5% | +1.1% |
| Feb 26, 2024 | Before the open | n/a | n/a | n/a | +3.1% | -8.6% | -5.6% |
| Nov 7, 2023 | Before the open | n/a | n/a | n/a | +6.2% | +14.0% | +7.6% |
Release dates from SEC 8-K filings.
Updated 10/25/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Latest News
Recent headlines for SGRY.
- 3/3/2026NEGATIVESurgery Partners Stock Hits 52-Week Low - Here's Why
Markets Gazette reports a significant downturn for Surgery Partners, whose shares (SGRY) hit a new 52-week low in premarket trading. The decline was triggered by the release of financial results that fell short of analysts' expectations. Furthermore, the company provided a cautious outlook for 2026, fueling investor concerns regarding future growth and profitability. This development suggests downward pressure on the stock, with the market reacting negatively to both current performance and near-term prospects. Investors should closely monitor the evolution of the company's strategy and upcoming reports to assess any signs of recovery.
- +1 day
- -11.5%
- +3 days
- -10.4%
- 2/23/2026NEGATIVESurgery Partners Stock Down 39% as One Fund Slashes Stake by $19 Million
Shares of Surgery Partners, a healthcare firm operating a national network of surgical centers, plummeted by a staggering 39%. The sharp decline was triggered by news that a major investment fund slashed its stake in the company, selling off shares worth $19 million. Such a substantial divestment by an institutional investor is a significant red flag for the market, often interpreted as a loss of confidence in the company's future prospects or valuation. This large-scale sell-off has created immense downward pressure on the stock, reflecting widespread investor concern. Traders will now be closely watching for any follow-up from the company or further signs of institutional selling to gauge the underlying reasons for the fund's exit.
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.