Universal Health Services Inc. (UHS) financial statements: income statement, balance sheet and cash flow

Universal Health Services Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Universal Health Services Inc. reported revenue of $17.4B (+9.7% year on year) and net income of $1.5B (+29.9% year on year).

Income statement

Universal Health Services Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net revenues	$17.4B	$15.8B	$14.3B	$13.4B
Salaries, wages and benefits	$8.1B	$7.5B	$7.1B	$6.8B
Other operating expenses	$4.9B	$4.3B	$3.8B	$3.4B
Supplies expense	$1.7B	$1.6B	$1.5B	$1.5B
Depreciation and amortization	$618.7M	$584.8M	$568.0M	$581.9M
Lease and rental expense	$148.2M	$146.4M	$141.0M	$131.6M
Operating Expenses, Total	$15.4B	$14.1B	$13.1B	$12.4B
Income from operations	$2.0B	$1.7B	$1.2B	$1.0B
Interest expense, net	$156.1M	$186.1M	$206.7M	$126.9M
Other (income) expense, net	($134.2M)	($2.2M)	$28.3M	$10.4M
Income before income taxes	$2.0B	$1.5B	$940.4M	$866.3M
Provision for income taxes	$461.0M	$334.8M	$221.1M	$209.3M
Net income	$1.5B	$1.2B	$719.3M	$657.0M
Less: Net income (loss) attributable to noncontrolling interests	$22.4M	$21.0M	$1.5M	($18.6M)
Net income attributable to UHS	$1.5B	$1.1B	$717.8M	$675.6M
Basic earnings per share attributable to UHS	$23.42	$17.16	$10.35	$9.23
Diluted earnings per share attributable to UHS	$23.10	$16.82	$10.23	$9.14
Weighted average number of common shares—basic	63.6M	66.6M	69.3M	73.1M
Add: Other share equivalents	881.0K	1.3M	804.0K	714.0K
Weighted average number of common shares and equivalents—diluted	64.5M	67.9M	70.1M	73.8M

Universal Health Services Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net revenues	$4.6B	$4.5B	$4.5B	$4.3B
Salaries, wages and benefits	$2.1B	$2.1B	$2.1B	$2.0B
Other operating expenses	$1.4B	$1.3B	$1.3B	$1.2B
Supplies expense	$423.3M	$426.5M	$414.6M	$418.8M
Depreciation and amortization	$167.3M	$155.4M	$155.1M	$152.0M
Lease and rental expense	$38.5M	$38.2M	$37.3M	$35.2M
Operating Expenses, Total	$4.1B	$4.0B	$4.0B	$3.8B
Income from operations	$516.7M	$502.9M	$521.7M	$500.3M
Interest expense, net	$39.9M	$37.1M	$38.4M	$35.4M
Other (income) expense, net	($2.4M)	($3.4M)	($13.6M)	($8.5M)
Income before income taxes	$479.1M	$469.1M	$496.9M	$473.4M
Provision for income taxes	$114.5M	$110.4M	$117.8M	$110.8M
Net income	$364.6M	$358.7M	$379.1M	$362.6M
Less: Net income (loss) attributable to noncontrolling interests	$6.1M	$10.0M	$6.1M	$9.4M
Net income attributable to UHS	$358.4M	$348.7M	$373.0M	$353.2M
Basic earnings per share attributable to UHS	$6.01	$5.71	$5.92	$5.49
Diluted earnings per share attributable to UHS	$5.98	$5.65	$5.86	$5.43
Weighted average number of common shares - basic	59.7M	61.1M	63.0M	64.4M
Add: Other share equivalents	253.0K	597.0K	689.0K	635.0K
Weighted average number of common shares and equivalents - diluted	59.9M	61.7M	63.7M	65.0M

Balance sheet

Universal Health Services Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$137.8M	$126.0M	$119.4M	$102.8M
Accounts receivable, net	$2.6B	$2.2B	$2.2B	$2.0B
Supplies	$232.1M	$220.9M	$217.0M	$218.5M
Other current assets	$435.6M	$291.6M	$236.7M	$198.3M
Total current assets	$3.4B	$2.8B	$2.8B	$2.5B
Land	$759.3M	$745.7M	$737.2M	$727.3M
Buildings and improvements	$8.1B	$7.7B	$7.1B	$6.8B
Equipment	$3.4B	$3.3B	$3.1B	$2.9B
Property under finance lease	$129.0M	$125.0M	$101.3M	$102.5M
Property Equipment Gross	$12.4B	$11.8B	$11.0B	$10.5B
Accumulated depreciation	($6.5B)	($6.1B)	($5.7B)	($5.2B)
Property and equipment excluding construction in progress net	$5.9B	$5.7B	$5.4B	$5.4B
Construction-in-progress	$1.1B	$841.0M	$732.2M	$562.8M
Property, plant and equipment, net, Total	$7.0B	$6.6B	$6.1B	$5.9B
Goodwill	$4.0B	$3.9B	$3.9B	$3.9B
Deferred income taxes	$70.5M	$118.4M	$85.6M	$68.4M
Right of use assets-operating leases	$374.2M	$418.7M	$434.0M	$454.6M
Deferred charges	$9.3M	$9.4M	$7.0M	$6.3M
Other	$667.3M	$601.8M	$572.8M	$599.6M
Other assets	$5.1B	$5.1B	$5.0B	$5.0B
Total Assets	$15.5B	$14.5B	$14.0B	$13.5B
Current maturities of long-term debt	$748.2M	$40.1M	$126.7M	$81.4M
Accounts payable	$750.1M	$632.0M	$614.0M	$636.6M
Compensation and related benefits	$681.6M	$622.6M	$549.5M	$470.9M
Interest	$26.2M	$30.3M	$17.4M	$16.2M
Taxes other than income	$267.9M	$161.7M	$154.2M	$110.9M
Operating lease liabilities	$73.2M	$74.6M	$71.6M	$67.8M
Other	$690.5M	$634.9M	$472.6M	$523.6M
Current federal and state income taxes	$1.9M	$14.2M	$2.0M	$4.6M
Total current liabilities	$3.2B	$2.2B	$2.0B	$1.9B
Other noncurrent liabilities	$527.8M	$655.8M	$584.0M	$487.7M
Operating lease liabilities noncurrent	$340.7M	$376.2M	$382.6M	$395.5M
Deferred income taxes	$5.6M	—	—	—
Long-term debt	$4.0B	$4.5B	$4.8B	$4.7B
Redeemable noncontrolling interest	$70.6M	$13.3M	$5.2M	$4.7M
Common Stock	$611.0K	$650.0K	$672.0K	$710.0K
Cumulative dividends	($765.4M)	($713.7M)	($659.9M)	($604.1M)
Retained earnings	$8.0B	$7.4B	$6.8B	$6.5B
Accumulated other comprehensive income	$47.8M	$7.2M	$9.3M	($9.7M)
Universal Health Services, Inc. common stockholders’ equity	$7.3B	$6.7B	$6.1B	$5.9B
Noncontrolling interest	$63.0M	$83.3M	$47.7M	$44.8M
Total Equity	$7.3B	$6.7B	$6.2B	$6.0B
Total Liabilities and Stockholders’ Equity	$15.5B	$14.5B	$14.0B	$13.5B

Universal Health Services Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$138.8M	$119.0M	$112.9M	$137.6M
Accounts receivable, net	$2.8B	$2.7B	$2.6B	$2.3B
Supplies	$234.1M	$229.4M	$226.7M	$222.8M
Other current assets	$505.3M	$406.2M	$333.1M	$327.4M
Total current assets	$3.7B	$3.5B	$3.3B	$3.0B
Property and equipment	$13.8B	$13.6B	$13.4B	$13.2B
Less: accumulated depreciation	($6.7B)	($6.5B)	($6.5B)	($6.4B)
Property, plant and equipment, net, Total	$7.1B	$7.1B	$7.0B	$6.9B
Goodwill	$4.0B	$4.0B	$4.0B	$4.0B
Deferred income taxes	$63.7M	$68.3M	$145.3M	$147.7M
Right of use assets-operating leases	$365.8M	$375.3M	$382.4M	$389.8M
Deferred charges	$9.9M	$9.2M	$9.4M	$9.5M
Other	$692.4M	$684.2M	$586.4M	$587.6M
Total Assets	$15.9B	$15.7B	$15.3B	$15.0B
Current maturities of long-term debt	$771.9M	$756.2M	$740.2M	$40.9M
Accounts payable and other liabilities	$2.5B	$2.4B	$2.3B	$2.2B
Operating lease liabilities	$70.9M	$72.9M	$73.3M	$73.2M
Federal and state taxes	$3.7M	$58.6M	$13.3M	$5.4M
Total current liabilities	$3.3B	$3.2B	$3.2B	$2.3B
Other noncurrent liabilities	$560.0M	$532.7M	$589.9M	$629.5M
Operating lease liabilities noncurrent	$339.5M	$344.6M	$346.5M	$351.9M
Deferred income taxes	$3.2M	$3.2M	—	—
Long-term debt	$4.1B	$4.0B	$4.0B	$4.5B
Redeemable noncontrolling interests	$73.6M	$73.4M	$67.0M	$59.6M
UHS common stockholders’ equity	$7.5B	$7.5B	$7.2B	$7.0B
Noncontrolling interest	$67.8M	$66.2M	$60.8M	$55.5M
Total equity	$7.6B	$7.5B	$7.2B	$7.1B
Total Liabilities and Stockholders’ Equity	$15.9B	$15.7B	$15.3B	$15.0B

Cash flow statement

Universal Health Services Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.5B	$1.2B	$719.3M	$657.0M
Depreciation & amortization	$618.7M	$584.8M	$568.0M	$581.9M
Stock-based compensation expense	$95.7M	$99.3M	$87.7M	$85.4M
Unrealized gain on non-marketable securities	($93.3M)	—	—	—
Loss (gain) on sales of assets and businesses	$8.0M	($9.9M)	($6.3M)	$584.0K
Costs related to extinguishment of debt	$0	$3.2M	$0	$0
Accounts receivable	($318.0M)	$67.4M	($182.4M)	($258.3M)
Accrued interest	($4.1M)	$12.8M	$1.2M	$1.8M
Accrued and deferred income taxes	($21.4M)	$12.7M	($43.5M)	($29.5M)
Other working capital accounts	$99.2M	$61.9M	($32.3M)	($146.7M)
Other assets and deferred charges	($28.6M)	($12.2M)	$48.5M	$19.9M
Other, net	$19.7M	$21.8M	$39.1M	($8.7M)
Accrued insurance expense, net of commercial premiums paid	$236.8M	$254.4M	$183.5M	$174.7M
Payments made in settlement of self-insurance claims, net of commercial insurance reimbursements	($259.5M)	—	—	—
Deferred grant revenue	$0	$0	—	—
Net cash provided by operating activities	$1.9B	$2.1B	$1.3B	$996.0M
Property and equipment additions	($1.0B)	($943.8M)	($743.1M)	($734.0M)
Proceeds received from sales of assets and businesses	$15.9M	$38.6M	$24.2M	$12.0M
Acquisition of businesses and property	($47.8M)	($19.0M)	($3.7M)	($20.3M)
(Outflows) inflows from foreign exchange contracts that hedge our net U.K. investment.	($52.2M)	$12.9M	($40.7M)	$94.9M
Costs incurred for purchase and development of enterprise resource planning application	($24.7M)	—	—	—
Proceeds received from sale of marketable equity securities	$63.1M	—	—	—
Investments in non-marketable securities	($9.8M)	—	—	—
Decrease in capital reserves of commercial insurance subsidiary	$142.0K	$276.0K	$16.0K	$100.0K
Net cash used in investing activities	($1.1B)	($911.1M)	($763.3M)	($647.3M)
Repayments of long-term debt	($43.5M)	($2.6B)	($85.5M)	($89.4M)
Additional borrowings	$285.5M	$2.2B	$185.1M	$705.3M
Financing costs	($382.0K)	($12.6M)	($308.0K)	($3.2M)
Repurchase of common shares	-968.0M	-670.8M	-547.4M	-832.9M
Dividends paid	($51.3M)	($53.3M)	($55.5M)	($58.4M)
Issuance of common stock	$16.7M	$15.1M	$13.7M	$14.1M
Profit distributions to noncontrolling interests	($11.7M)	($6.5M)	($6.8M)	($5.4M)
Purchase of ownership interests by minority members	$22.8M	$13.0M	$2.8M	($48.5M)
Net cash used in financing activities	($749.7M)	($1.1B)	($493.9M)	($318.4M)
Effect of exchange rate changes on cash and cash equivalents	$2.5M	($833.0K)	$3.1M	($8.4M)
Increase in cash, cash equivalents and restricted cash	$46.6M	$10.3M	$13.6M	$21.9M
Cash, cash equivalents and restricted cash, beginning of period	$224.8M	$214.5M	$200.8M	$178.9M
Cash, cash equivalents and restricted cash, end of period	$271.3M	$224.8M	$214.5M	$200.8M
Interest paid	$156.0M	$168.3M	$200.4M	$120.1M
Income taxes paid, net of refunds	$470.9M	$325.4M	$257.9M	$250.8M
Noncash purchases of property and equipment	$74.4M	$118.1M	$66.9M	$72.1M

Universal Health Services Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$723.3M	$358.7M	$1.1B	$684.2M
Depreciation & amortization	$322.8M	$155.4M	$455.4M	$300.3M
Stock-based compensation expense	$45.4M	$22.5M	$70.6M	$45.7M
(Gain) loss on sales of assets and businesses	($5.6M)	($5.0M)	$2.8M	$2.8M
Accounts receivable	($137.9M)	($123.9M)	($294.2M)	($92.6M)
Accrued interest	($29.0K)	$11.0M	$7.1M	($4.5M)
Accrued and deferred income taxes	$29.8M	$104.8M	($39.3M)	($55.9M)
Other working capital accounts	($182.1M)	($122.9M)	$20.4M	$25.3M
Other assets and deferred charges	($18.5M)	($12.3M)	($29.6M)	($22.4M)
Other, net	$10.8M	($221.0K)	$19.1M	$16.1M
Accrued insurance expense, net of commercial premiums paid	$157.4M	$62.6M	$177.1M	$94.7M
Payments made in settlement of self-insurance claims, net of commercial insurance reimbursements	($100.3M)	($49.0M)	($163.0M)	($84.8M)
Net cash provided by operating activities	$844.9M	$401.6M	$1.3B	$909.0M
Property and equipment additions	($444.8M)	($217.2M)	($733.9M)	($505.0M)
Proceeds received from sales of assets and businesses	$15.7M	$14.3M	$3.0M	$3.0M
Acquisition of businesses and property	($4.9M)	($4.9M)	($47.8M)	($8.3M)
Inflows (outflows) from foreign exchange contracts that hedge our net U.K. investment	$12.0M	$14.7M	($49.4M)	($66.4M)
Costs incurred for purchase and development of enterprise resource planning application	($10.0M)	($4.6M)	($18.7M)	—
Decrease (increase) in capital reserves of commercial insurance subsidiary	$56.0K	$28.0K	$100.0K	($462.0K)
Net cash used in investing activities	($431.8M)	($197.6M)	($846.7M)	($577.2M)
Repayments of long-term debt	($201.7M)	($44.7M)	($27.8M)	($18.5M)
Additional borrowings	$300.0M	$40.0K	$209.0M	$94.6M
Financing costs	($1.4M)	—	($382.0K)	—
Repurchase of common shares	-484.6M	-163.8M	-615.9M	-378.5M
Dividends paid	($24.8M)	($13.0M)	($38.9M)	($26.4M)
Issuance of common stock	$8.7M	$3.8M	$12.1M	$8.1M
Profit distributions to noncontrolling interests	($11.9M)	($7.9M)	($10.4M)	($9.6M)
Purchase of ownership interests by minority members, net	$4.3M	$3.8M	$18.7M	$11.3M
Net cash used in financing activities	($411.4M)	($221.9M)	($453.6M)	($319.1M)
Effect of exchange rate changes on cash and cash equivalents	($676.0K)	($924.0K)	$2.4M	$3.9M
Increase in cash, cash equivalents and restricted cash	$1.1M	($18.8M)	($8.1M)	$16.6M
Cash, cash equivalents and restricted cash, beginning of period	$271.3M	$271.3M	$224.8M	$224.8M
Cash, cash equivalents and restricted cash, end of period	$272.4M	$252.6M	$216.6M	$241.4M
Interest paid	$74.5M	$25.1M	$103.0M	$77.4M
Income taxes paid, net of refunds	$197.4M	$8.3M	$356.0M	$251.8M
Noncash purchases of property and equipment	$80.6M	$70.2M	$146.7M	$148.9M

Universal Health Services Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.