# Surgery Partners, Inc.: overview

SGRY · Nasdaq · CIK 1638833 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/sgry.md) · [Financials](/companies/sgry/financials.md) · [Filings](/companies/sgry/filings.md) · [Insiders](/companies/sgry/insiders.md)

Latest reported revenue: [$848.9m](/filings/0001638833-26-000077.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax, accession 0001638833-26-000077).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [770](/filings/0001638833-25-000163.md) | [864 d](/filings/0001638833-26-000008.md) | [776](/filings/0001638833-26-000046.md) | [826](/filings/0001638833-26-000077.md) | [822](/filings/0001638833-25-000163.md) | [885 d](/filings/0001638833-26-000008.md) | [811](/filings/0001638833-26-000046.md) | [849](/filings/0001638833-26-000077.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [7.9%](/filings/0001638833-25-000163.md) | [14.7% d](/filings/0001638833-26-000008.md) | [8.0%](/filings/0001638833-26-000046.md) | [13.5%](/filings/0001638833-26-000077.md) | [12.9%](/filings/0001638833-25-000163.md) | [12.5% d](/filings/0001638833-26-000008.md) | [8.1%](/filings/0001638833-26-000046.md) | [12.0%](/filings/0001638833-26-000077.md) |
| Net margin | % | [(4.1%)](/filings/0001638833-25-000163.md) | [(12.6%) d](/filings/0001638833-26-000008.md) | [(4.9%)](/filings/0001638833-26-000046.md) | [(0.3%)](/filings/0001638833-26-000077.md) | [(2.8%)](/filings/0001638833-25-000163.md) | [(1.7%) d](/filings/0001638833-26-000008.md) | [(4.4%)](/filings/0001638833-26-000046.md) | [(1.8%)](/filings/0001638833-26-000077.md) |
| Diluted EPS | $ per share | [(0.25)](/filings/0001638833-25-000163.md) | not reported | [(0.30)](/filings/0001638833-26-000046.md) | [(0.02)](/filings/0001638833-26-000077.md) | [(0.18)](/filings/0001638833-25-000163.md) | not reported | [(0.28)](/filings/0001638833-26-000046.md) | [(0.12)](/filings/0001638833-26-000077.md) |
| Free cash flow | $m | [45.0 d](/filings/0001638833-25-000163.md) | [89.1 d](/filings/0001638833-26-000008.md) | [(16.7)](/filings/0001638833-26-000046.md) | [57.9 d](/filings/0001638833-26-000077.md) | [63.8 d](/filings/0001638833-25-000163.md) | [90.6 d](/filings/0001638833-26-000008.md) | [(4.3)](/filings/0001638833-26-000046.md) | [37.5 d](/filings/0001638833-26-000077.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,225](/filings/0001638833-24-000029.md) | [2,539](/filings/0001638833-25-000053.md) | [2,743](/filings/0001638833-26-000008.md) | [3,114](/filings/0001638833-26-000008.md) | [3,309](/filings/0001638833-26-000008.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [13.6%](/filings/0001638833-24-000029.md) | [13.6%](/filings/0001638833-25-000053.md) | [12.0%](/filings/0001638833-26-000008.md) | [11.2%](/filings/0001638833-26-000008.md) | [11.8%](/filings/0001638833-26-000008.md) |
| Net margin | % | [(3.2%)](/filings/0001638833-24-000029.md) | [(2.2%)](/filings/0001638833-25-000053.md) | [(0.4%)](/filings/0001638833-26-000008.md) | [(5.4%)](/filings/0001638833-26-000008.md) | [(2.4%)](/filings/0001638833-26-000008.md) |
| Diluted EPS | $ per share | [(1.12)](/filings/0001638833-24-000029.md) | [(0.59)](/filings/0001638833-25-000053.md) | [(0.09)](/filings/0001638833-26-000008.md) | [(1.33)](/filings/0001638833-26-000008.md) | [(0.61)](/filings/0001638833-26-000008.md) |
| Free cash flow | $m | [29.5](/filings/0001638833-24-000029.md) | [78.2](/filings/0001638833-25-000053.md) | [205](/filings/0001638833-26-000008.md) | [210](/filings/0001638833-26-000008.md) | [196](/filings/0001638833-26-000008.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/sgry/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Bain Capital Investors LLC](/funds/1040508.md) | 2026-06-30 | $839.1m | 49,946,972 |  | Unchanged |
| [Jupiter Topco LLC](/funds/2146052.md) | 2026-06-30 | $233.2m | 13,882,155 |  | Not compared |
| [Pentwater Capital Management LP](/funds/1425851.md) | 2026-06-30 | $195.4m | 11,630,000 |  | Reduced −1,025,000 |
| [JANUS HENDERSON GROUP PLC](/funds/1274173.md) | 2026-03-31 | $161.4m | 13,540,385 |  | Not compared |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $144.0m | 8,573,413 |  | Reduced −1,618,368 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $104.9m | 6,241,503 |  | Added +580,715 |
| [KING STREET CAPITAL MANAGEMENT, L.P.](/funds/1218199.md) | 2026-06-30 | $101.8m | 6,058,141 |  | Reduced −4,171,589 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $83.1m | 4,943,713 |  | Reduced −352,698 |
| [Clearbridge Investments, LLC](/funds/1348883.md) | 2026-06-30 | $64.2m | 3,823,179 |  | Reduced −294,877 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $62.8m | 3,737,712 |  | Added +109,281 |

## Recent filings

[All 844 filings](/companies/sgry/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-26 | 09:27 ET | [SCHEDULE 13D/A](/filings/0001193125-26-431228.md) | Ownership report, active investor, amended | 0001193125-26-431228 |
| 2026-10-26 | 09:03 ET | [8-K](/filings/0001104659-26-118643.md) | 1.01 Entry into a material agreement; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-118643 |
| 2026-09-17 | 09:03 ET | [8-K](/filings/0001638833-26-000085.md) | 2.01 Completion of an acquisition or disposition; 9.01 Financial statements and exhibits | 0001638833-26-000085 |
| 2026-08-10 | 16:14 ET | [10-Q](/filings/0001638833-26-000077.md) | Quarterly report, period 2026-06-30 | 0001638833-26-000077 |
| 2026-08-10 | 07:32 ET | [8-K](/filings/0001638833-26-000074.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001638833-26-000074 |
| 2026-07-24 | 09:01 ET | [8-K](/filings/0001638833-26-000069.md) | 1.01 Entry into a material agreement; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001638833-26-000069 |
| 2026-06-05 | 16:50 ET | [8-K](/filings/0001638833-26-000050.md) | 5.07 Shareholder vote results | 0001638833-26-000050 |
| 2026-05-05 | 16:13 ET | [10-Q](/filings/0001638833-26-000046.md) | Quarterly report, period 2026-03-31 | 0001638833-26-000046 |
| 2026-05-05 | 07:31 ET | [8-K](/filings/0001638833-26-000044.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001638833-26-000044 |
| 2026-04-23 | 16:03 ET | [DEF 14A](/filings/0001638833-26-000039.md) | Proxy statement, period 2026-06-05 | 0001638833-26-000039 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001638833-26-000008.md), filed Mar 2, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/3dcc4684-c01b-469a-813e-8d72769607cb)

## About the filer

- CIK: 1638833
- Tickers: SGRY
- Exchange: Nasdaq
- SIC code: 8062 Services-General Medical & Surgical Hospitals, NEC
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 04:34 ET. No prices; not investment advice.