FirmAtlas

Company handbook · UHS · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17

UHS · CIK 352915 · LATEST FILING: 10-Q JUN '26 · FILED AUG 7, 2026

UNIVERSAL HEALTH SERVICES, INC.

$185.10 −2.26 (−1.21%)

Close, Oct 16, 2026 · 52-week $140–246

↗ uhs.com

Last fiscal year

UNIVERSAL HEALTH SERVICES, INC. reported revenue of $17.4B for the year ended Dec 31, 2025 (FY25), up 9.7% from FY24. Net income was $1.5B, operating cash flow $1.9B and free cash flow $849M. Source: 10-K filed Feb 25, 2026.

Market cap

$11.9B

P/E

7.8

EV/EBITDA

6.6x

P/B

1.6

Div yield

0.43%

ROIC

13.0%

Revenue 1Y

9.7%/yr

EPS 1Y

37.3%/yr

Shares 1Y

−5%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEOMarc D. Miller

HQKing Of Prussia, PA

AuditorPricewaterhouseCoopers LLP

Employees101,500

Year endsDecember

Revenue by segment · FY25

Acute Care Hospital Services57%

Behavioral Health Services43%

State Medicaid Programs0%

All Other Segments0%

Compounded growth & averages

10Y

TTM

Share price

4.1%

6.8%

13.6%

−9.4%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Where the cash went · FY24–FY25

$3.8B deployed

Capex $2.0B 52.0%

Acquisitions $67M 1.8%

Dividends $105M 2.8%

Buybacks $1.6B 43.5%

Operating cash flow over the period: $3.9B. Total debt changed by +$956M.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Aug 21, 2026 Material agreement 8-K Aug 17, 2026 New debt or obligation 8-K Aug 13, 2026 Material agreement 8-K Jul 28, 2026 Quarterly results 8-K Jul 21, 2026 Material agreement 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

Upgrade to see 10 years

Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

15,828

17,365+9.7%

18,114

YoY

+9.7%

Operating income

1,682

1,994+18.6%

2,058

Operating margin

10.6%

11.5%+0.9 pp

—

EBITDA

2,267

2,613+15.3%

—

EBITDA margin

14.3%

15.0%+0.7 pp

—

Interest expense

186

156−16.1%

—

Interest coverage

12.18x

16.74x+4.56x

—

Net income

1,142

1,489+30.4%

1,526

YoY

+30.4%

Net margin

7.2%

8.6%+1.4 pp

—

EPS (diluted, $)

16.82

23.10+37.3%

24.41

YoY

+37.3%

Balance sheet

FY24 FY25

TTM

Total assets

14,470

15,528+7.3%

15,935

Cash & short-term investments

225

271+20.7%

—

Accounts receivable

2,178

2,602+19.5%

—

Net PP&E

6,572

7,008+6.6%

—

Other assets

5,495

5,646+2.7%

—

Total liabilities

7,804

8,252+5.7%

8,422

Accounts payable

632

750+18.7%

—

Total debt

4,545

5,501+21.0%

5,672

Other liabilities

2,627

2,001−23.8%

—

Shareholders’ equity

6,666

7,276+9.1%

7,514

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

2,067

1,864−9.8%

1,800

Net income

1,163

1,511+29.9%

—

Depreciation & amortization

585

619+5.8%

—

Stock-based compensation

96−3.7%

—

Working capital & other

220

(361)−264.3%

—

Cash from investing

(911)

(1,071)n/m

—

Capex

(944)

(1,015)n/m

—

Acquisitions

(19)

(48)n/m

—

Investments sold / matured

63n/m

—

Other investing

(71)−236.8%

—

Cash from financing

(1,145)

(750)n/m

—

Debt repaid

(2,640)

(44)n/m

—

Dividends

(53)

(51)n/m

—

Buybacks

(671)

(968)n/m

—

Shares issued

17+11.0%

—

Other financing

2,204

296−86.6%

—

Net change in cash

47+352.9%

—

Free cash flow (OCF − capex)

1,123

849−24.4%

845

Where the cash went

FY24 FY25

TTM

Operating cash flow

2,067

1,864−9.8%

1,800

Reinvested in the business

963

1,063+10.4%

—

% of operating cash flow

46.6%

57.0%

Capex

944

1,015+7.6%

955

Acquisitions

48+151.6%

—

Free cash flow

1,123

849−24.4%

845

YoY

−24.4%

Returned to shareholders

724

1,019+40.8%

—

% of free cash flow

64.5%

120.0%

Dividends

51−3.9%

—

Buybacks

671

968+44.3%

—

Change in total debt

—

956

—

Cash left over

—

738

—

FCF conversion (FCF ÷ net income)

98.4%

57.0%−41.3 pp

—

Owner earnings

—

786

—

Owner earnings margin

—

4.5%

—

Buyback yield

5.5%

6.9%+1.4 pp

—

Returns & ratios

FY24 FY25

TTM

ROIC (all capital)

11.9%

13.0%+1.1 pp

—

ROIC (operating)

16.1%

18.0%+1.9 pp

—

Net debt / EBITDA

1.91x

2.00x+0.10x

—

Debt / equity

0.68x

0.76x+0.07x

—

ROE

17.1%

20.5%+3.3 pp

—

ROA

7.9%

9.6%+1.7 pp

—

ROCE

13.7%

16.2%+2.5 pp

—

NOPAT

1,306

1,528+17.0%

—

Invested capital (operating)

8,118

8,860+9.1%

—

Invested capital (all)

10,986

12,505+13.8%

—

Reinvestment rate

—

48.6%

—

Income

Sep '25

Dec '25

Mar '26

Jun '26

Revenue

4,495

4,486

4,495

4,638

vs year-ago quarter

Operating income

522

517

503

517

Net income

373

446

349

358

vs year-ago quarter

Net margin

8.3%

9.9%

7.8%

7.7%

EPS (diluted, $)

5.86

6.92

5.65

5.98

vs year-ago quarter

Balance sheet

Sep '25

Dec '25

Mar '26

Jun '26

Total assets

15,344

15,528

15,681

15,935

Cash & equivalents

217

271

253

272

Total debt

5,440

5,501

5,456

5,672

Shareholders’ equity

7,170

7,276

7,465

7,514

Cash flow

Sep '25

Dec '25

Mar '26

Jun '26

Operating cash flow

381

575

402

443

Capex

229

281

217

228

Free cash flow

152

293

184

216

vs year-ago quarter