Universal Health Services Inc. Class B Common Stock (UHS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$6.01	$5.98	-0.5%	—	—	—
Q4 26	$5.46	$5.62	+2.9%	—	—	—
Q3 26	$5.91	$5.88	-0.5%	—	—	—
Q2 26	$4.95	$5.69	+14.9%	—	—	—
Q1 26	$4.96	$5.35	+7.9%	—	—	—
Q4 25	$4.36	$4.84	+11.0%	—	—	—
Q3 25	$4.18	$4.92	+17.7%	—	—	—
Q2 25	$3.7	$3.71	+0.3%	—	—	—
Q1 25	$3.32	$4.31	+29.8%	—	—	—
Q4 24	$3.14	$3.7	+17.8%	—	—	—
Q3 24	$2.91	$3.13	+7.6%	—	—	—
Q2 24	$2.36	$2.55	+8.1%	—	—	—
Q1 24	$2.43	$2.53	+4.1%	—	—	—
Q4 23	$2.19	$2.34	+6.8%	—	—	—
Q3 23	$2.96	$3.02	+2.0%	—	—	—
Q2 23	$2.43	$2.54	+4.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$23.4	—	—	$17.4B	—
FY24	—	$17.2	—	—	$15.8B	—
FY23	—	$10.3	—	—	$14.3B	—
FY22	—	$9.23	—	—	$13.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.8B	$10.4B	$10.8B	$11.4B	$11.6B	$12.6B	$13.4B	$14.3B	$15.8B	$17.4B
YoY change	+7.99%	+6.59%	+3.48%	+5.63%	+1.59%	+9.37%	+5.99%	+6.59%	+10.8%	+9.71%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.8B	10.4B	10.8B	11.4B	11.6B	12.6B	13.4B	14.3B	15.8B	17.4B
Cost of revenue	1B	1.1B	1.2B	1.3B	1.3B	1.4B	1.5B	1.5B	1.6B	1.7B
Gross profit	8.7B	9.3B	9.6B	10.1B	10.3B	11.2B	11.9B	12.7B	14.2B	15.7B
Gross margin	89.4%	89.4%	89.2%	89%	88.9%	88.7%	89%	89.3%	90%	90.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	4.7B	5.1B	5.4B	5.7B	5.7B	6.3B	6.9B	7.2B	7.7B	8.2B
Operating expenses	7B	7.6B	8B	8.4B	8.4B	9.3B	10.3B	11B	12B	13.1B
Operating income	1.3B	1.3B	1.2B	1.2B	1.4B	1.4B	1B	1.2B	1.7B	2B
Operating margin	13.1%	12.3%	10.9%	10.7%	11.8%	10.8%	7.49%	8.23%	10.6%	11.5%
Non-operating income, net	-3.1M	-2.4M	14.2M	13.2M	14K	13.9M	-10.4M	-28.3M	2.2M	134.2M
Pretax income	1.2B	1.1B	1B	1.1B	1.3B	1.3B	866.3M	940.4M	1.5B	2B
Income tax	409.2M	363.7M	236.6M	238.8M	299.3M	305.7M	209.3M	221.1M	334.8M	461M
Net income	747.2M	771.3M	797.9M	827.5M	952.8M	987.6M	657M	719.3M	1.2B	1.5B
Net margin	7.65%	7.41%	7.41%	7.27%	8.24%	7.81%	4.9%	5.04%	7.35%	8.7%
EBITDA	1.7B	1.7B	1.6B	1.7B	1.9B	1.9B	1.6B	1.7B	2.3B	2.7B
EPS	7.22	7.86	8.35	9.16	11.1	12	9.23	10.3	17.2	23.4
Diluted EPS	7.14	7.81	8.31	9.13	11	11.8	9.14	10.2	16.8	23.1

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	3.7B	—	—	—	—	—	—	4.5B	4.5B	4.5B	4.6B
Cost of revenue	—	393.9M	—	—	—	—	—	—	414.6M	422.8M	426.5M	423.3M
Gross profit	—	3.3B	—	—	—	—	—	—	4.1B	4.1B	4.1B	4.2B
Gross margin	—	89.4%	—	—	—	—	—	—	90.8%	90.6%	90.5%	90.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	1.8B	—	—	—	—	—	—	2.1B	2.1B	2.1B	2.2B
Operating expenses	—	2.8B	—	—	—	—	—	—	3.4B	3.4B	3.4B	3.5B
Operating income	—	331.2M	—	—	—	—	—	—	521.7M	517.2M	502.9M	516.7M
Operating margin	—	8.94%	—	—	—	—	—	—	11.6%	11.5%	11.2%	11.1%
Non-operating income, net	—	3.5M	—	—	—	—	—	—	13.6M	106.4M	3.4M	2.4M
Pretax income	—	281.1M	—	—	—	—	—	—	496.9M	581.4M	469.1M	479.1M
Income tax	—	61.5M	—	—	—	—	—	—	117.8M	133.6M	110.4M	114.5M
Net income	—	219.6M	—	—	—	—	—	—	379.1M	447.8M	358.7M	364.6M
Net margin	—	5.93%	—	—	—	—	—	—	8.43%	9.98%	7.98%	7.86%
EBITDA	—	479M	—	—	—	—	—	—	689.3M	786M	660.5M	685.1M
EPS	2.42	—	3.9	4.32	3.89	5.07	4.87	5.49	5.92	7.19	5.71	6.01
Diluted EPS	2.4	—	3.82	4.26	3.8	4.96	4.8	5.43	5.86	7.06	5.65	5.98

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	10.3B	10.8B	10.9B	12.7B	11.7B	10.7B	—	10.6B	11.9B	13.9B	10.5B
Enterprise value	14.4B	14.8B	14.8B	17B	14.7B	15.1B	—	15.8B	16.8B	18.9B	15.8B
Shares outstanding	97.2M	95.7M	93.3M	88.8M	85.1M	82.5M	73.1M	69.3M	66.6M	63.6M	63.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	13.8	14.1	13.6	15.4	12.3	10.8	—	14.7	10.3	9.17	7.28
P/S	1.06	1.04	1.01	1.12	1.01	0.85	—	0.74	0.75	0.8	0.58
P/B	2.24	2.14	1.99	2.28	1.83	1.73	—	1.7	1.77	1.87	1.4
EV/EBITDA	8.55	8.61	9.03	9.88	7.85	7.93	—	9.24	7.4	6.89	5.86
EV/Sales	1.48	1.42	1.37	1.49	1.27	1.2	—	1.11	1.06	1.09	0.87
Earnings yield	7.23%	7.11%	7.34%	6.5%	8.15%	9.23%	—	6.81%	9.74%	10.9%	13.7%
FCF yield	1.73%	5.89%	4.26%	6.15%	13.9%	0.26%	—	4.97%	9.41%	5.95%	4.76%
PEG	—	—	—	—	—	—	—	—	—	—	0.77

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	89.4%	89.4%	89.2%	89%	88.9%	88.7%	89%	89.3%	90%	90.4%	90.9%
Operating margin	13.1%	12.3%	10.9%	10.7%	11.8%	10.8%	7.49%	8.23%	10.6%	11.5%	11.1%
Net margin	7.65%	7.41%	7.41%	7.27%	8.24%	7.81%	4.9%	5.04%	7.35%	8.7%	8.42%
ROE	16.2%	15.2%	14.6%	14.8%	14.9%	15.9%	11%	11.6%	17.2%	20.4%	20.9%
ROA	7.24%	7.17%	7.08%	7.09%	7.07%	7.54%	4.87%	5.15%	8.04%	9.73%	8.32%
ROIC	9.47%	9.64%	9.68%	9.6%	11%	9.78%	6.83%	7.85%	11.3%	12.3%	12.3%
Return on tangible assets	27.2%	24.8%	22.3%	21.1%	16.7%	19.1%	11.6%	11.8%	17.6%	20%	19.4%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.28	0.97	1.34	1.23	1.32	1.14	1.33	1.4	1.27	1.05	1.12
Quick ratio	1.18	0.9	1.24	1.12	1.25	1.04	1.21	1.29	1.17	0.98	1.04
Debt / equity	0.9	0.8	0.73	0.77	0.65	0.74	0.88	0.87	0.73	0.7	0.69
Debt / assets	0.4	0.38	0.35	0.37	0.31	0.35	0.39	0.38	0.34	0.33	0.33
Net debt / EBITDA	2.43	2.31	2.38	2.47	1.59	2.33	3.29	3.07	2.13	1.83	1.82
Interest coverage	11.7	9.48	8.02	7.55	12.8	16.5	8.08	5.65	9.21	14	14.2
Effective tax rate	35.4%	32%	22.9%	22.4%	23.9%	23.6%	24.2%	23.5%	22.4%	23.4%	23.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	100.5	108.8	115.5	128.2	135.9	153.2	183.3	206	237.8	273.1	294.9
EPS (basic)	7.22	7.86	8.35	9.16	11.1	12	9.23	10.3	17.2	23.4	23.4
EPS (diluted)	7.14	7.81	8.31	9.13	11	11.8	9.14	10.2	16.8	23.1	24.5
Book value per share	47.4	52.9	58.6	62.9	75.3	75.1	81.6	89.5	101.6	116.5	127.5
FCF per share	1.84	6.67	4.96	8.82	19.1	0.34	3.58	7.57	16.9	13	13.5
Cash per share	0.35	0.78	1.13	0.69	14.4	1.4	1.41	1.72	1.89	2.17	2.35
Capex per share	11.7	6.07	8.31	7.14	8.6	10.4	10	10.7	14.2	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	11.6%	5.58%	7.2%	5.57%	6.33%	6.77%	5.48%	5.2%	5.96%	—	—
Capex / operating cash flow	96.7%	50.4%	65.1%	50%	33.3%	118.8%	92.8%	65.6%	52.6%	—	—
Payout ratio	5.2%	4.95%	4.68%	6.4%	1.82%	6.67%	8.9%	7.71%	4.59%	3.39%	3.27%
Dividend yield	0.38%	0.35%	0.34%	0.42%	0.15%	0.62%	—	0.53%	0.45%	0.37%	0.45%

Yield

0.45%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.20

ex-dividend Sep 1, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.20
Jun 8, 2026	$0.20
Mar 2, 2026	$0.20

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	—	$3.7B	—	—	—	—	—	—	$4.5B	$4.5B	$4.5B	$4.6B
YoY change	—	+7.44%	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	33.7M	74.4M	105.2M	61.3M	1.2B	115.3M	102.8M	119.4M	126M	137.8M
Receivables	1.4B	1.5B	1.5B	1.6B	1.7B	1.7B	2B	2.2B	2.2B	2.6B
Inventory	125.4M	136.2M	148.2M	159.9M	190.4M	206.8M	218.5M	217M	220.9M	232.1M
Total current assets	1.7B	1.8B	1.9B	1.9B	3.3B	2.3B	2.5B	2.8B	2.8B	3.4B
Property, plant & equipment	1.5B	1.6B	1.7B	2.1B	2.3B	2.5B	2.6B	-581.5M	-680.3M	-694M
Goodwill & intangibles	7.6B	7.7B	7.7B	7.7B	7.8B	7.9B	7.8B	7.9B	7.9B	8B
Total assets	10.3B	10.8B	11.3B	11.7B	13.5B	13.1B	13.5B	14B	14.5B	15.5B
Accounts payable	439.7M	442M	445.7M	447M	570.5M	658.9M	636.6M	614M	632M	750.1M
Short-term debt	105.9M	545.6M	63.4M	144M	391.8M	112.9M	149.2M	198.3M	114.7M	821.4M
Total current liabilities	1.3B	1.8B	1.4B	1.6B	2.5B	2B	1.9B	2B	2.2B	3.2B
Long-term debt	4B	3.5B	3.9B	4.2B	3.8B	4.4B	5.1B	5.2B	4.8B	4.3B
Total liabilities	5.7B	5.7B	5.8B	6.1B	7.1B	6.9B	7.5B	7.8B	7.7B	8.1B
Shareholders' equity	4.6B	5.1B	5.5B	5.6B	6.4B	6.2B	6B	6.2B	6.8B	7.4B
Total debt	4.1B	4B	4B	4.3B	4.2B	4.6B	5.3B	5.4B	5B	5.2B
Net debt	4.1B	4B	3.9B	4.2B	3B	4.4B	5.2B	5.2B	4.8B	5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	80.8M	119.4M	112.1M	128.8M	106.1M	126M	126.8M	137.6M	112.9M	137.8M	119M	138.8M
Receivables	2.2B	2.2B	2.3B	2.2B	2.2B	2.2B	2.4B	2.3B	2.6B	2.6B	2.7B	2.8B
Inventory	214.6M	217M	216.1M	218.8M	220.1M	220.9M	222M	222.8M	226.7M	232.1M	229.4M	234.1M
Total current assets	2.8B	2.8B	2.9B	2.7B	2.8B	2.8B	3.1B	3B	3.3B	3.4B	3.5B	3.7B
Property, plant & equipment	6.5B	-581.5M	6.6B	6.8B	6.9B	-680.3M	7.1B	7.3B	7.4B	-694M	7.4B	7.5B
Goodwill & intangibles	7.8B	7.9B	7.9B	7.9B	7.9B	7.9B	7.9B	8B	8B	8B	8B	8B
Total assets	13.9B	14B	14B	14.1B	14.4B	14.5B	14.9B	15B	15.3B	15.5B	15.7B	15.9B
Accounts payable	1.8B	614M	1.8B	1.9B	1.9B	632M	2.1B	2.2B	2.3B	750.1M	2.4B	2.5B
Short-term debt	199.2M	198.3M	198.5M	199.5M	111.2M	114.7M	116.3M	114.1M	813.5M	821.4M	829.1M	842.8M
Total current liabilities	2B	2B	2.1B	2.1B	2B	2.2B	2.3B	2.3B	3.2B	3.2B	3.2B	3.3B
Long-term debt	5.2B	5.2B	5.1B	4.8B	5B	4.8B	5B	4.9B	4.3B	4.3B	4.3B	4.4B
Total liabilities	7.8B	7.8B	7.7B	7.5B	7.7B	7.7B	8B	7.8B	8B	8.1B	8.1B	8.3B
Shareholders' equity	6.1B	6.2B	6.3B	6.6B	6.7B	6.8B	6.9B	7.1B	7.3B	7.4B	7.6B	7.7B
Total debt	5.4B	5.4B	5.3B	5B	5.1B	5B	5.1B	5B	5.1B	5.2B	5.1B	5.3B
Net debt	5.3B	5.2B	5.2B	4.9B	5B	4.8B	5B	4.9B	5B	5B	5B	5.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	747.2M	771.3M	797.9M	827.5M	952.8M	987.6M	657M	719.3M	1.2B	1.5B
Depreciation & amortization	416.6M	447.9M	453.1M	490.4M	510.5M	533.2M	581.9M	568M	584.8M	618.7M
Stock-based compensation	48.1M	56.7M	66.6M	69.4M	65.8M	73.7M	85.4M	87.7M	99.3M	95.7M
Change in working capital	42.2M	-46.1M	-50.5M	-21.9M	782M	-782.5M	-391.4M	-124.1M	138.9M	-227.7M
Operating cash flow	1.2B	1.2B	1.2B	1.3B	2.2B	720.5M	790.8M	1.1B	1.8B	1.9B
Capital expenditure	-1.1B	-580.4M	-775.4M	-634.1M	-731.3M	-855.7M	-734M	-743.1M	-943.8M	—
Investing cash flow	-1.2B	-591.4M	-777.2M	-647.2M	-777.9M	-935.5M	-742.2M	-722.6M	-924M	-30.8M
Dividends paid	-38.9M	-38.2M	-37.3M	-53M	-17.3M	-65.9M	-58.4M	-55.5M	-53.3M	-51.3M
Share repurchases	-353.4M	-364.4M	-397.4M	-770.5M	-206.7M	-1.2B	-832.9M	-547.4M	-670.8M	-968M
Financing cash flow	-171.2M	-519.2M	-492.2M	-845M	-384.9M	-1.1B	-318.4M	-493.9M	-1.1B	-749.7M
Net change in cash	-164.8M	40.2M	-78.5M	-224.6M	1B	-1.3B	-269.8M	-83.7M	-274.8M	1.1B
Free cash flow	178.6M	638.2M	463.1M	783M	1.6B	28M	262M	524.7M	1.1B	824.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	168M	219.6M	265.8M	294.3M	265.9M	337M	321.6M	362.6M	379.1M	447.8M	358.7M	364.6M
Depreciation & amortization	—	—	—	—	—	—	—	—	155.1M	163.3M	155.4M	167.3M
Stock-based compensation	—	—	—	—	—	—	—	—	24.9M	25.1M	22.5M	22.9M
Change in working capital	—	—	—	—	—	—	—	—	-210.7M	56.6M	-259.3M	-68.5M
Operating cash flow	168M	219.6M	265.8M	294.3M	265.9M	337M	321.6M	362.6M	380.7M	574.7M	401.6M	443.3M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	-38.9M	200K	9.5M	1.5M
Dividends paid	—	—	—	—	—	—	—	—	-12.5M	-12.4M	-13M	-11.8M
Share repurchases	—	—	—	—	—	—	—	—	-237.4M	-352M	-163.8M	-320.8M
Financing cash flow	—	—	—	—	—	—	—	—	-134.5M	-296.1M	-221.9M	-189.5M
Net change in cash	168M	219.6M	265.8M	294.3M	265.9M	337M	321.6M	362.6M	207.3M	278.8M	189.2M	255.3M
Free cash flow	—	—	—	—	—	—	—	—	133.1M	287.5M	179.9M	210.3M

Date	Ratio
Dec 16, 2009	2:1
Jun 4, 2001	2:1
May 20, 1996	2:1
Jul 5, 1983	2:1

Universal Health Services Inc. Class B Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history