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Companies / Health Care / Surgery Partners, Inc.
SGRY

Surgery Partners, Inc.

Health CareHealth Services
Ticker SGRYBRENTWOOD, TNFiscal year ends DecemberBook value per share $12.99Diluted shares 128.6M

Surgery Partners, Inc. (NASDAQ: SGRY) operates as a leading national healthcare services company with an integrated outpatient delivery model focused on providing high-quality, cost-effective surgical and ancillary care solutions. The company owns and operates a network of more than 200 surgical facilities across 30… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$3.31B
+6.2% year over year
Last 12 mo $3.37B
11.77%
+0.6 percentage points
Last 12 mo 11.40%
$98.90M
+691.2% year over year
Last 12 mo $81.90M
-4.55%
+4.8 percentage points
Last 12 mo -5.30%
Cash & financing
$274.30M
−8.6% year over year
Last 12 mo $258.00M
$195.60M
−6.7% year over year
Last 12 mo $187.60M
2.16
Was 1.88× a year earlier
Last 12 mo 2.25
127.2M
+0.9% year over year
Last 12 mo 128.6M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Surgery Partners, Inc. does

In the company’s own words

Surgery Partners, Inc. (NASDAQ: SGRY) operates as a leading national healthcare services company with an integrated outpatient delivery model focused on providing high-quality, cost-effective surgical and ancillary care solutions. The company owns and operates a network of more than 200 surgical facilities across 30 states, generating approximately $3.2 billion in patient service revenues during 2025.

The company's primary business segment is Surgical Facilities, which encompasses ambulatory surgery centers (ASCs), short-stay surgical hospitals, anesthesia services, urgent care facilities, and multi-specialty physician practices. As of December 31, 2025, Surgery Partners operated 176 surgical facilities, including 157 ASCs and 19 licensed surgical hospitals. These facilities provide non-emergency surgical procedures across multiple specialties including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.

Surgery Partners employs approximately 16,000 full-time and part-time employees across its operations. The company structures its ownership through partnerships and limited liability companies with physicians, physician groups, and healthcare systems, holding majority ownership in 90 facilities while consolidating 121 for financial reporting purposes. The company provides comprehensive management services to its facilities, including financial, marketing, and operational support, typically receiving management fees based on a percentage of facility revenue.

Revenue is derived from facility fees for healthcare services performed at surgical facilities, with patient service revenues comprising the vast majority of total revenue. The company's payor mix consists of private insurance (52.3 percent), government programs (42.8 percent), self-pay (2.7 percent), and other sources (2.2 percent). Surgery Partners receives reimbursement from Medicare through multiple payment systems depending on the site of service, including the inpatient prospective payment system for hospitals, the outpatient prospective payment system for hospital outpatient departments and ASCs, and the Medicare Physician Fee Schedule for certain off-campus facilities.

The company's growth strategy emphasizes physician engagement, organic growth through targeted recruitment and service line expansion, disciplined acquisitions, and strategic partnerships with payors and healthcare systems. Surgery Partners competes with hospitals, other surgical facility operators, and office-based surgery providers, leveraging its national scale, operational efficiency, and physician relationships as competitive advantages. The company's website is www.surgerypartners.com.

Company details
Sector
Health Care
Industry (SIC)
Health Services
Headquarters
BRENTWOOD, TN
Fiscal year end
December
CIK
1638833
SIC
8062

Financial performance, year by year

Fiscal 2015–2025 · USD
$-441.82M$596.76M$1.64B$2.67B$3.71B2015201620182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Surgery Partners, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

191
funds hold it
0 of 35
superinvestors hold it
$688.16M
held by funds, at market
33.1%
of shares held by funds

Largest fund holders · Surgery Partners, Inc.’s weight in each

Janus Henderson Contrarian Fund
JSVAX · Janus Investment Fund
4.06%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
T. Rowe Price Small-Cap Stock Fund, Inc.
OTCFX · T. ROWE PRICE SMALL-CAP STOCK FUND, INC.
0.38%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.04%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.02%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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