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What this page is: Delvantic's full research page for Surgery Partners Inc. (SGRY) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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any ticker resolves at delvantic.com/stock/TICKER ·
raw inputs are public-company filings and market data (via licensed data feeds);
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Surgery Partners Inc.
SGRY NASDAQ
Healthcare · Medical Care Facilities
Brentwood, TN 37027, United States
surgerypartners.com
Price
$15.19
Market Cap
$2.0B
Employees
16,000
Beta
1.94
Avg Volume
1,537,498
CEO
Mr. J. Eric Evans
Surgery Partners Inc. is a healthcare services holding company that owns and operates a national network of surgical facilities and ancillary services across more than 200 locations in 33 states. It specializes in short-stay surgical care, managing ambulatory surgery centers and surgical hospitals that provide non-emergency procedures in specialties such as orthopedics, pain management, ophthalmology, gastroenterology, and general surgery. The company supports these operations through integrated ancillary services, including multi-specialty physician practices, anesthesia services, diagnostic laboratories, urgent care facilities, and optical services like laboratories and group purchasing organizations. Surgery Partners Inc. focuses on delivering high-quality, cost-effective outpatient care, differentiating itself with a comprehensive model that enhances patient and physician support in the ambulatory healthcare sector. Founded in 2004 and headquartered in Brentwood, Tennessee, it plays a key role in the U.S. healthcare delivery system by emphasizing efficient surgical solutions.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 14 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Aug 10, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
-18.8%
Nov '25
-60.0%
Mar '26
+78.6%
May '26
+4.4%
Jul '26
+66.7%
Aug '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Aug 10, 2026 | $0.06 | $0.10 +66.7% | — | — |
| Jul 30, 2026 | $2.51 | $2.62 +4.4% | — | — |
| May 5, 2026 | $-0.14 | $-0.03 +78.6% | — | — |
| Mar 2, 2026 | $0.30 | $0.12 -60.0% | — | — |
| Nov 10, 2025 | $0.16 | $0.13 -18.8% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 10, 2026 | 10-Q | View |
| Aug 10, 2026 | 8-K | View |
| Jul 24, 2026 | 8-K | View |
| Jul 14, 2026 | 4 | View |
| Jun 9, 2026 | 4 | View |
| Jun 9, 2026 | 4 | View |
| Jun 9, 2026 | 4 | View |
| Jun 9, 2026 | 4 | View |
| Jun 9, 2026 | 4 | View |
| Jun 9, 2026 | 4 | View |
| Jun 9, 2026 | 4 | View |
| Jun 5, 2026 | 8-K | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 14, 2026 8:39am (just now)
Current data · timestamped when a report runs
$15.19
Change · Aug 14
-0.13 (-0.85%)
Day Range
$14.97 – $15.65
52-Week Range
$11.41 – $24.10
50-Day MA
$15.49
200-Day MA
$15.19
Volume
2,229,285.00
Share Structure
Outstanding
130,797,216.00
Float
49,646,578.00
Free Float
38.0%
Moderate free float
— 38.0% of shares trade freely, ~62% held by insiders/institutions
Reasonable but insiders still hold a significant stake. This can be positive (skin in the game) but may limit liquidity during sell-offs.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
-24.90
Stock Price: $15.19
EPS (Diluted): -0.61
EPS (Diluted): -0.61
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
0.55
Stock Price: $15.19
Total Equity: $3.53B
Shares: 127,209,000
Total Equity: $3.53B
Shares: 127,209,000
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
9.63
Market Cap: $1.99B
Total Debt: $3.74B
Cash: $239.90M
EBITDA: $565.50M
Total Debt: $3.74B
Cash: $239.90M
EBITDA: $565.50M
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$5.4B
Market Cap: $1.99B
Total Debt: $3.74B
Cash: $239.90M
Total Debt: $3.74B
Cash: $239.90M
P/S Ratio (Price per dollar of revenue)
HEXStock Price / Revenue Per Share
0.58
Stock Price: $15.19
Revenue: $3.31B
Shares: 127,209,000
Revenue: $3.31B
Shares: 127,209,000
EV/Sales (Total value vs revenue — works when P/E can't)
CALC1.65
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
—
Gross Profit: N/A
Revenue: $3.31B
Revenue: $3.31B
Missing from API: Gross Profit
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
11.8%
Operating Income: $389.50M
Revenue: $3.31B
Revenue: $3.31B
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
-2.4%
Net Income: -$77.90M
Revenue: $3.31B
Revenue: $3.31B
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
-2.2%
Net Income: -$77.90M
Total Equity: $3.53B
Total Equity: $3.53B
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
4.7%
Operating Income: $389.50M
Tax Rate: 15.4%
Equity: $3.53B
Total Debt: $3.74B
Cash: $239.90M
Tax Rate: 15.4%
Equity: $3.53B
Total Debt: $3.74B
Cash: $239.90M
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
1.87
Current Assets: $1.15B
Current Liabilities: $615.50M
Current Liabilities: $615.50M
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
1.06
Short-Term Debt: $0.00
Long-Term Debt: $3.74B
Total Debt: $3.74B
Total Equity: $3.53B
Long-Term Debt: $3.74B
Total Debt: $3.74B
Total Equity: $3.53B
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$26.01
Revenue: $3.31B
Shares: 127,209,000
Shares: 127,209,000
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$27.72
Total Equity: $3.53B
Shares: 127,209,000
Shares: 127,209,000
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$1.54
Operating CF: $274.30M
CapEx: -$78.70M
Shares: 127,209,000
CapEx: -$78.70M
Shares: 127,209,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
—
Last Dividend: $0.00
Stock Price: $15.19
Stock Price: $15.19
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$77.90M
Net Income: -$77.90M
Dividends paid not available in cash flow statement
Income Statement (Annual)
Last updated: Aug 14, 2026 8:39am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.5B | $2.7B | $3.1B | $3.3B |
| Cost of Revenue | — | — | — | — | — |
| Gross Profit | — | — | — | — | — |
| Operating Expenses | $1.9B | $2.2B | $2.4B | $2.8B | $2.9B |
| Operating Income | $302.2M | $345.2M | $328.0M | $348.8M | $389.5M |
| Net Income | -$70.9M | -$54.6M | -$11.9M | -$168.1M | -$77.9M |
| EBITDA | $401.0M | $460.0M | $446.1M | $501.4M | $565.5M |
| EPS | $-1.12 | $-0.59 | $-0.09 | $-1.33 | $-0.61 |
| EPS (Diluted) | $-1.12 | $-0.59 | $-0.09 | $-1.33 | $-0.61 |
Balance Sheet (Annual)
Last updated: Aug 14, 2026 8:39am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $389.9M | $282.9M | $195.9M | $269.5M | $239.9M |
| Total Current Assets | $946.1M | $921.0M | $895.0M | $1.1B | $1.2B |
| Total Assets | $6.1B | $6.7B | $6.9B | $7.9B | $8.1B |
| Current Liabilities | $536.8M | $493.4M | $523.0M | $624.4M | $615.5M |
| Long-Term Debt | $3.0B | $2.6B | $2.8B | $3.4B | $3.7B |
| Total Liabilities | $3.8B | $3.4B | $3.5B | $4.3B | $4.6B |
| Total Equity | $2.3B | $3.3B | $3.4B | $3.6B | $3.5B |
| Retained Earnings | -$502.7M | -$557.3M | -$569.2M | -$737.3M | -$815.2M |
Cash Flow (Annual)
Last updated: Aug 14, 2026 8:39am (just now)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $87.1M | $158.8M | $293.8M | $300.1M | $274.3M |
| Capital Expenditure | -$57.6M | -$80.6M | -$88.8M | -$90.4M | -$78.7M |
| Free Cash Flow | $29.5M | $78.2M | $205.0M | $209.7M | $195.6M |
| Acquisitions (net) | -$285.8M | -$146.4M | -$80.0M | -$378.8M | -$162.1M |
| Net Debt Issued / (Repaid) | -$43.8M | -$644.2M | $19.5M | $450.4M | $162.8M |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | — | — | — | — | — |
| Net Change in Cash | $71.7M | -$107.0M | -$87.0M | $73.6M | -$29.6M |
Growth Trends (YoY %)
Last updated: Aug 14, 2026 8:39am (just now)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +14.1% | +8.0% | +13.5% | +6.2% |
| Gross Profit Growth | — | — | — | — |
| Operating Income Growth | +14.2% | -5.0% | +6.3% | +11.7% |
| Net Income Growth | +23.0% | +78.2% | -1,312.6% | +53.7% |
| EBITDA Growth | +14.7% | -3.0% | +12.4% | +12.8% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-18 | HENDRIX BLAIR E | A-Award | 34,364.00 | $14.55 | $499,996 |
Industry Benchmarks
Compares SGRY against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for SGRY — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for SGRY — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for SGRY — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for SGRY — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.532 · 1ec19de8 · 2026-08-13 17:53:37