Company Valuation: Surgery Partners, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,694 3,370 4,015 2,676 1,985 1,777 - -
Change - -28.22% 19.14% -33.36% -25.82% -10.48% - -
Enterprise Value (EV) 1 7,243 5,709 6,594 5,776 5,447 5,310 5,364 5,583
Change - -21.19% 15.51% -12.4% -5.7% -2.51% 1.02% 4.08%
P/E ratio -47.7x -47.2x -355x -15.9x -25.3x -94.9x 104x 44.4x
PBR 3.55x 1.28x 2.03x 1.5x 1.17x 1.07x 1.2x 1.15x
PEG - 1x 4.2x -0x 0.5x 1.2x -1x 0x
Capitalization / Revenue 2.11x 1.33x 1.46x 0.86x 0.6x 0.52x 0.5x 0.47x
EV / Revenue 3.26x 2.25x 2.4x 1.85x 1.65x 1.56x 1.5x 1.47x
EV / EBITDA 21.3x 15x 15.1x 11.4x 10.4x 9.99x 9.34x 9.29x
EV / EBIT 32.4x 23.1x 21.8x 16.2x 15.6x 13.7x 12.2x 12.7x
EV / FCF -71.4x -83.2x 112x 27.5x 27.8x 16.3x 15.1x 20x
FCF Yield -1.4% -1.2% 0.89% 3.63% 3.59% 6.14% 6.61% 5.01%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.12 -0.59 -0.09 -1.33 -0.61 -0.1445 0.1322 0.3087
Distribution rate - - - - - - - -
Net sales 1 2,225 2,539 2,743 3,114 3,309 3,408 3,588 3,810
EBITDA 1 339.6 380.2 438.1 508.2 526.2 531.6 574.3 600.8
EBIT 1 223.4 247 302.3 355.6 350.2 388.6 438 440.3
Net income 1 -81.2 -54.6 -11.9 -168.1 -77.9 -33.47 10.13 49.82
Net Debt 1 2,549 2,339 2,579 3,101 3,462 3,534 3,588 3,806
Reference price 2 53.41 27.86 31.99 21.17 15.45 13.71 13.71 13.71
Nbr of stocks (in thousands) 87,889 120,948 125,498 126,383 128,455 129,580 - -
Announcement Date 28/02/22 01/03/23 26/02/24 03/03/25 02/03/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-94.85x1.56x9.99x-.--% 1.78B
34.21x3.24x14.57x1.32% 19.41B
62.63x4.95x33.49x0.28% 12.53B
20.77x3.02x10.67x2.04% 11.72B
16.77x1.98x9.3x0.74% 10.32B
24.07x1.93x16.11x0.15% 9.87B
17.77x2.6x10.62x4.55% 8.92B
68.31x8.2x35.71x0.13% 7.67B
11.9x1.01x5.8x2.1% 6.32B
27.94x0.81x6.74x2.31% 5.95B
Average 18.95x 2.93x 15.30x 1.36% 9.45B
Weighted average by Cap. 30.25x 3.17x 16.36x 1.38%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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