Surgery Partners Inc (SGRY) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Surgery Partners Inc stock $32.83, price $23.20, upside +41.5%, quality 43 out of 100. Rating: undervalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $11.49 – $61.69 · fair‑value band $9.75 – $64.62 · the $23.20 price screens below the $32.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Surgery Partners, Inc., together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States.
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The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.
It offers emergency departments; ancillary services such as physician practices and diagnostic testing; multi-specialty physician practices; urgent care facilities; and anesthesia services. In addition, it offers single- and multi-specialty facilities.
Surgery Partners, Inc. was founded in 2004 and is headquartered in Brentwood, Tennessee.
Stock analysis
Surgery Partners Inc (SGRY) currently trades at $23.20, while our model-based Fair Value estimate is $32.83, implying the stock looks roughly 29% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $33.99 per share, and 8 of the 10 models we run sit above the $23.20 price.
Bear case: the Multiples group reads lowest at $21.67, and 2 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: $9.75 (bear) to $64.62 (bull), the price of $23.20 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Surgery Partners Inc reported revenue of $3.3B in FY2025 versus $2.2B in FY2021, a compound +10.4%/yr. Reported net income was −$77.9M in FY2025.
Key figures
Market cap $3.0B Mid · P/S ratio 0.61 · EPS (TTM) $−0.6900 · Net margin −2.6% · Return on equity 2.3% · Return on assets (EBIT) 4.8% (5-year average) · Operating margin 13.7% · Revenue (TTM) $3.4B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (medium confidence).
What moves the price
The share trades about 1% below its 52-week high and 102% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −1% fair-value upside, at 42%, SGRY screens cheaper than that median.
Fair Value models
Bear$9.75Fair Value $32.83Bull$64.62
Price $23.20 · Upside +41.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $161,213, on Aug 18, 2026.
BuyTeresa DeLucaDirector11,250 shares at $14.33$161,213Aug 18, 2026
SaleJason Eric EvansChief Executive Officer2× since Mar 6, 2026: 31,862 shares, avg. $12.94$412,449Mar 16, 2026
SaleDavid T DohertyChief Financial Officer2× since Mar 6, 2026: 23,441 shares, avg. $13.33$312,542Mar 16, 2026
SaleMarissa BrittenhamChief Strategy Officer2× since Mar 6, 2026: 12,442 shares, avg. $13.36$166,213Mar 13, 2026
SaleDanielle BurkhalterChief Human Resources Officer2× since Mar 6, 2026: 11,205 shares, avg. $13.36$149,717Mar 13, 2026
SaleJennifer BaldockChief Admin & Dev Officer2× since Mar 6, 2026: 15,880 shares, avg. $13.51$214,483Mar 12, 2026
SaleWilliam Trenton WebbAmerican Group President2,066 shares at $13.87$28,654Mar 6, 2026
Plus 8 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.2%
Start year 2020 (pandemic). Over 10 years: +13.2% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.6%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
9.8% (2020) → 11.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+24.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−7.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +21.9% a year for the price and −9.8% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Care Facilities · 233 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside+41.5% · Top 25%
Profitability
Return on equity (12 months)2.3% · Below median
Return on assets−1.0% · Bottom 25%
Net margin (12 months)−2.6% · Bottom 25%
Operating margin (12 months)13.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)2.7% · Below median
Balance sheet
Debt / equity2.10× · Highest 25%
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
P/B1.74× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.89× · Cheapest 25%
Price / free cash flow (fiscal year)15.3× · Cheaper than median
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Is Surgery Partners Inc (SGRY) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $32.83 versus a price of $23.20, about +42% upside (undervalued).
What is the fair value of SGRY?
Our model-based fair value for Surgery Partners Inc is $32.83 (as of Nov 7, 2026), built from audited fundamentals. The current price: $23.20.
What is the quality score of SGRY?
Surgery Partners Inc has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Surgery Partners Inc (SGRY)?
Our model-based price target is the fair value of $32.83 (as of Nov 7, 2026) from 10 valuation models. Cautious scenario $9.75, optimistic scenario $64.62. It is a calculation from audited fundamentals, not an analyst target.
What is the Surgery Partners Inc stock forecast for 2026?
Our models put fair value at $32.83, about +42% upside versus a price of $23.20 (undervalued). Cautious scenario $9.75, optimistic scenario $64.62. The calculation is refreshed regularly with new filings.
What is the revenue of Surgery Partners Inc (SGRY)?
Surgery Partners Inc reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Nov 7, 2026).
What growth is priced into Surgery Partners Inc (SGRY)?
For today's price to be fair in a discounted-cash-flow model, Surgery Partners Inc would have to grow free cash flow by +24.8 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.2 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of SGRY use?
Our models discount Surgery Partners Inc at 11.9 %: a base by market capitalisation (mid), damped by beta 1.91, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Surgery Partners Inc that is +24.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has Surgery Partners Inc (SGRY) delivered so far?
Over the past 5 years revenue at Surgery Partners Inc grew +12.2 % a year. The price currently implies free-cash-flow growth of +24.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Surgery Partners Inc (SGRY) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Surgery Partners Inc (+24.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Surgery Partners Inc (SGRY)?
The free-cash-flow yield on the price is 6.54 %: that much free cash flow Surgery Partners Inc produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Surgery Partners Inc (SGRY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Surgery Partners Inc it is $32.83 per share (as of Nov 7, 2026), against a price of $23.20. It is the blended result of 10 valuation models in 3 families (DCF Models, Multiples, Growth DCF).
Is Surgery Partners Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, SGRY trades below its calculated fair value: price $23.20, fair value $32.83, a gap of about +42% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SGRY?
No. The price is what the market pays today ($23.20); the fair value is what the company's own numbers justify ($32.83). For Surgery Partners Inc the two are $9.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is Surgery Partners Inc worth?
The market values Surgery Partners Inc at about $3.0B (market capitalisation, as of Nov 7, 2026). Per share that is $23.20; our models calculate a fair value of $32.83 per share.
What do the bullish and bearish scenarios say about SGRY?
Our models span a range for Surgery Partners Inc: cautious scenario $9.75, base $32.83, optimistic $64.62 per share (as of Nov 7, 2026, price $23.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of SGRY?
The PEG ratio of Surgery Partners Inc is 1.66 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Surgery Partners Inc (SGRY)?
Balance-sheet figures for Surgery Partners Inc (as of Nov 7, 2026): return on equity 2.3%, debt of 2.10 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is SGRY from its 52-week high?
Surgery Partners Inc trades at $23.20, about 1% below its 52-week high of $23.36 and 102% above the low of $11.49 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $32.83 is for.
Which stocks are comparable to Surgery Partners Inc?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Tenet Healthcare Corporation, Dr. Sulaiman Al Habib Medical Services Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Surgery Partners Inc stock attractive at the current price?
The data as of Nov 7, 2026: price $23.20, calculated fair value $32.83 (+42%), Quality Score 43/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SGRY calculated?
We run Surgery Partners Inc through 10 models from 3 families: DCF Models, Multiples, Growth DCF. Every model gets the same audited fundamentals; the fair value of $32.83 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Surgery Partners Inc currently trades 29% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Surgery Partners Inc (SGRY)?
The closing price on Nov 6, 2026 was $23.20. Our model-based fair value is $32.83, about +42% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Surgery Partners Inc right now?
The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain. The model range is unusually wide ($9.75 to $64.62). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Surgery Partners Inc
How large is the market capitalisation of Surgery Partners Inc (SGRY)?
The market capitalisation of Surgery Partners Inc is $3.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Surgery Partners Inc (SGRY)?
The price-to-sales ratio of Surgery Partners Inc is 0.61 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Surgery Partners Inc (SGRY)?
Earnings per share at Surgery Partners Inc are $−0.6900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Surgery Partners Inc (SGRY)?
The net margin of Surgery Partners Inc is −2.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Surgery Partners Inc (SGRY)?
The return on equity (ROE) of Surgery Partners Inc is 2.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Surgery Partners Inc (SGRY)?
On an EBIT basis the return on assets of Surgery Partners Inc is 4.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Surgery Partners Inc (SGRY)?
The operating margin of Surgery Partners Inc is 13.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Surgery Partners Inc (SGRY)?
Revenue at Surgery Partners Inc is growing +2.7% versus a year earlier (3y avg +9.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Surgery Partners Inc (SGRY) carry?
The net debt of Surgery Partners Inc is $3.8B (fiscal year 2025, ≈ 19.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026