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Surgery Partners

DB:1SP
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1SP
DB
$624M
Market Cap
  1. Home
  2. DE
  3. Healthcare
Company description

Surgery Partners, Inc., through its subsidiaries, operates surgical facilities in the United States. The last earnings update was 104 days ago. More info.


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  • Surgery Partners has significant price volatility in the past 3 months.
1SP Share Price and Events
7 Day Returns
-1.2%
DB:1SP
4.8%
DE Healthcare
1.9%
DE Market
1 Year Returns
-12.2%
DB:1SP
-20.5%
DE Healthcare
-11%
DE Market
1SP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Surgery Partners (1SP) -1.2% 2.8% -0.7% -12.2% -6.8% -
DE Healthcare 4.8% 13.7% 1.6% -20.5% -11.5% 36%
DE Market 1.9% 2.1% 1.8% -11% 15.5% 6.5%
1 Year Return vs Industry and Market
  • 1SP outperformed the Healthcare industry which returned -20.5% over the past year.
  • 1SP underperformed the Market in Germany which returned -11% over the past year.
Price Volatility
1SP
Industry
5yr Volatility vs Market

Value

 Is Surgery Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Surgery Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Surgery Partners.

DB:1SP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 19.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1SP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 9.8%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.567 (1 + (1- 21%) (371.2%))
2.231
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 9.77%)
19.77%

Discounted Cash Flow Calculation for DB:1SP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Surgery Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:1SP DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 94.60 252.26 297.67 348.27 403.99
Source Analyst x4 Analyst x1 Est @ 18%, capped from 27.69% Est @ 17%, capped from 27.69% Est @ 16%, capped from 27.69%
Present Value
Discounted (@ 19.77%)
78.98 175.85 173.25 169.24 163.91
Present value of next 5 years cash flows $761.22
DB:1SP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $403.99 × (1 + 0.23%) ÷ (19.77% – 0.23%)
$2,071.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $2,071.80 ÷ (1 + 19.77%)5
$840.57
DB:1SP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $761.22 + $840.57
$1,601.78
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,601.78 / 48.89
$28.4
DB:1SP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1SP represents 0.86687x of NasdaqGS:SGRY
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86687x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 32.76 x 0.86687
€28.40
Value per share (EUR) From above. €28.40
Current discount Discount to share price of €11.20
= -1 x (€11.20 - €28.40) / €28.40
60.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Surgery Partners is available for.
Intrinsic value
>50%
Share price is €11.2 vs Future cash flow value of €28.4
Current Discount Checks
For Surgery Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Surgery Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Surgery Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Surgery Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Surgery Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1SP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $-2.54
NasdaqGS:SGRY Share Price ** NasdaqGS (2019-02-21) in USD $12.92
Germany Healthcare Industry PE Ratio Median Figure of 10 Publicly-Listed Healthcare Companies 21.48x
Germany Market PE Ratio Median Figure of 420 Publicly-Listed Companies 18.11x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Surgery Partners.

DB:1SP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:SGRY Share Price ÷ EPS (both in USD)

= 12.92 ÷ -2.54

-5.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Surgery Partners is loss making, we can't compare its value to the DE Healthcare industry average.
  • Surgery Partners is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Surgery Partners's expected growth come at a high price?
Raw Data
DB:1SP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
84.5%per year
Germany Healthcare Industry PEG Ratio Median Figure of 7 Publicly-Listed Healthcare Companies 1.41x
Germany Market PEG Ratio Median Figure of 268 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Surgery Partners, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Surgery Partners's assets?
Raw Data
DB:1SP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $11.68
NasdaqGS:SGRY Share Price * NasdaqGS (2019-02-21) in USD $12.92
Germany Healthcare Industry PB Ratio Median Figure of 12 Publicly-Listed Healthcare Companies 1.47x
Germany Market PB Ratio Median Figure of 566 Publicly-Listed Companies 1.79x
DB:1SP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:SGRY Share Price ÷ Book Value per Share (both in USD)

= 12.92 ÷ 11.68

1.11x

* Primary Listing of Surgery Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Surgery Partners is good value based on assets compared to the DE Healthcare industry average.
X
Value checks
We assess Surgery Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
  5. Surgery Partners has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Surgery Partners expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
84.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Surgery Partners expected to grow at an attractive rate?
  • Surgery Partners's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Surgery Partners's earnings growth is expected to exceed the Germany market average.
  • Surgery Partners's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1SP Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1SP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 84.5%
DB:1SP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 7.5%
Germany Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
Germany Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 9.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:1SP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1SP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 2,063 3 3
2019-12-31 1,937 152 -27 8
2018-12-31 1,790 120 -74 8
DB:1SP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 1,732 154 -122
2018-06-30 1,597 134 -125
2018-03-31 1,443 116 -102
2017-12-31 1,312 121 -79
2017-09-30 1,159 99 -22
2017-06-30 1,135 108 7
2017-03-31 1,139 135 14
2016-12-31 1,121 125 9
2016-09-30 1,079 117 9
2016-06-30 1,039 128 9
2016-03-31 981 100 1
2015-12-31 936 84 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Surgery Partners's earnings are expected to grow significantly at over 20% yearly.
  • Surgery Partners's revenue is expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:1SP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Surgery Partners Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1SP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.06 0.06 0.06 1.00
2019-12-31 -0.50 -0.14 -0.81 6.00
2018-12-31 -1.71 -1.53 -1.88 7.00
DB:1SP Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 -2.54
2018-06-30 -2.59
2018-03-31 -2.11
2017-12-31 -1.64
2017-09-30 -0.46
2017-06-30 0.15
2017-03-31 0.29
2016-12-31 0.20
2016-09-30 0.19
2016-06-30 0.19
2016-03-31 0.02
2015-12-31 0.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Surgery Partners will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Surgery Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Surgery Partners has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Surgery Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Surgery Partners's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Surgery Partners does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Surgery Partners's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Surgery Partners's 1-year growth to the DE Healthcare industry average as it is not currently profitable.
Earnings and Revenue History
Surgery Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Surgery Partners Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1SP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 1,731.87 -121.96 84.07
2018-06-30 1,597.31 -124.52 87.81
2018-03-31 1,443.29 -101.57 79.05
2017-12-31 1,312.47 -79.03 68.91
2017-09-30 1,158.61 -22.15 70.58
2017-06-30 1,134.96 7.30 59.81
2017-03-31 1,138.53 13.89 56.47
2016-12-31 1,121.23 9.45 55.15
2016-09-30 1,079.30 9.33 60.19
2016-06-30 1,038.89 8.55 57.97
2016-03-31 980.56 1.00 56.33
2015-12-31 936.31 1.43 55.99
2015-09-30 855.11 -69.57 46.36
2015-06-30 696.28 -73.36 41.86
2015-03-31 543.58 -68.58 36.48
2014-12-31 393.78 -65.90 31.45
2013-12-31 278.71 -9.06 26.34
2012-12-31 257.14 1.92 25.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Surgery Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Surgery Partners used its assets less efficiently than the DE Healthcare industry average last year based on Return on Assets.
  • It is difficult to establish if Surgery Partners improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Surgery Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Surgery Partners has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Surgery Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Surgery Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Surgery Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Surgery Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Surgery Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Surgery Partners Company Filings, last reported 4 months ago.

DB:1SP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 1,897.20 2,317.59 79.12
2018-06-30 1,918.07 2,313.46 96.07
2018-03-31 1,953.16 2,302.50 112.82
2017-12-31 1,966.73 2,189.28 174.91
2017-09-30 1,977.43 2,193.33 199.70
2017-06-30 491.77 1,825.18 57.03
2017-03-31 499.00 1,424.76 55.97
2016-12-31 505.20 1,442.24 69.70
2016-09-30 499.78 1,386.93 55.21
2016-06-30 496.28 1,354.52 51.60
2016-03-31 475.26 1,355.91 135.05
2015-12-31 481.37 1,255.36 57.93
2015-09-30 200.83 1,398.67 56.85
2015-06-30 213.16 1,359.70 47.91
2015-03-31 219.53 1,360.50 56.42
2014-12-31 222.13 1,361.35 74.92
2013-12-31 -14.38 427.40 13.03
2012-12-31
  • Surgery Partners's level of debt (122.2%) compared to net worth is high (greater than 40%).
  • Unable to establish if Surgery Partners's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Surgery Partners has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Surgery Partners has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -24.3% per year.
X
Financial health checks
We assess Surgery Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Surgery Partners has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Surgery Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Surgery Partners dividends. Estimated to be 0% next year.
If you bought €2,000 of Surgery Partners shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Surgery Partners's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Surgery Partners's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:1SP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Germany Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 332 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:1SP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 2.00
2019-12-31 0.00 3.00
2018-12-31 0.00 3.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Surgery Partners has not reported any payouts.
  • Unable to verify if Surgery Partners's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Surgery Partners's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Surgery Partners has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Surgery Partners's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Surgery Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Surgery Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Surgery Partners has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Surgery Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Wayne DeVeydt
AGE 48
TENURE AS CEO 1.1 years
CEO Bio

Mr. Wayne Scott DeVeydt has been the Chief Executive Officer and Director of Surgery Partners, Inc. since January 4, 2018. Mr. DeVedyt served as a Senior Advisor to the Global Healthcare division of Bain Capital Private Equity, LP, the investment advisor of BCPE Seminole Holdings LP, the Company's controlling shareholder, from January 2017 until January 3, 2018. Mr. DeVeydt is also on the board of directors of Grupo Notre Dame Intermedica. Mr. DeVeydt served as the Chief Financial Officer and Executive Vice President of Anthem, Inc (formerly, WellPoint Inc.) from May 31, 2007 to May 31, 2016. Mr. DeVeydt served as the Head of Investor Relations at WellPoint Inc. since January 25, 2006 and also served as its Chief Staff Officer from 2006 to 2007. He served as a Senior Vice President and Chief Accounting Officer of Wellpoint Inc., since joining in March 16, 2005. Prior to joining Wellpoint Inc., in 2005, he served with PricewaterhouseCoopers LLP (public accounting firm) in many roles since 1996. He was a Partner at PricewaterhouseCoopers LLP. He was a Lead Engagement Partner for a number of large, national managed care and insurance companies including WHN. He served as a Financial Services Site Leader for both the St. Louis and Southern Illinois markets. Mr. DeVeydt has been a Member of Board of Governors at Boys & Girls Clubs of America, Inc. since January 2015. He has been an Independent Director of NiSource Inc. since March 22, 2016. He served as Non-Executive Director of Myovant Sciences Ltd. since September 2016 until July 23, 2018. He serves as Director of Indiana Health Information Exchange, Inc. He served as Director of BCS Financial Corporation until June 13, 2016. He also sits on the board of U.S. Chamber of Commerce and Cancer Support Community. He served as a Board Member of The Children's Museum of Indianapolis. He served as a Board Member for the YMCA of Greater Indianapolis. Mr. DeVeydt received a B.S. in business administration in Accounting from the University of Missouri in St. Louis.

CEO Compensation
  • Insufficient data for Wayne to compare compensation growth.
  • Insufficient data for Wayne to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Surgery Partners management team in years:

1.1
Average Tenure
47
Average Age
  • The average tenure for the Surgery Partners management team is less than 2 years, this suggests a new team.
Management Team

Jennifer Baldock

TITLE
Executive VP & Chief Legal Officer
COMPENSATION
$978K
AGE
47
TENURE
3.8 yrs

Dennis Dean

TITLE
Executive Officer
COMPENSATION
$995K
AGE
46
TENURE
0.5 yrs

Clifford Adlerz

TITLE
Consultant & Director
COMPENSATION
$494K
AGE
64
TENURE
1 yrs

Wayne DeVeydt

TITLE
CEO & Director
AGE
48
TENURE
1.1 yrs

Tom Cowhey

TITLE
Executive VP
AGE
46
TENURE
0.8 yrs

Ronald Zelhof

TITLE
Senior Vice President of Operations
AGE
53
TENURE
3.3 yrs

Angela Justice

TITLE
Executive VP & Chief Human Resources Officer
AGE
45
TENURE
0.9 yrs

Ben Jacobs

TITLE
Senior VP & Chief Development Officer
AGE
44
TENURE
1.5 yrs

Robert Kretschmer

TITLE
Executive VP and Chief Strategy & Transformation Officer
AGE
59
TENURE
1.1 yrs

Donna Giles

TITLE
Senior VP & Chief Clinical Officer
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Surgery Partners board of directors in years:

1.5
Average Tenure
50
Average Age
  • The average tenure for the Surgery Partners board of directors is less than 3 years, this suggests a new board.
Board of Directors

T. O'Reilly

TITLE
Chairman of the Board
AGE
43
TENURE
1.5 yrs

Adam Feinstein

TITLE
Independent Director
COMPENSATION
$252K
AGE
46
TENURE
3.5 yrs

William Turner

TITLE
Director
COMPENSATION
$220K
AGE
52
TENURE
3.2 yrs

Clifford Adlerz

TITLE
Consultant & Director
COMPENSATION
$494K
AGE
64
TENURE
1.3 yrs

Wayne DeVeydt

TITLE
CEO & Director
AGE
48
TENURE
1.1 yrs

Teresa DeLuca

TITLE
Director
COMPENSATION
$133K
AGE
52
TENURE
2.4 yrs

Andrew Kaplan

TITLE
Director
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
29. Aug 18 Sell Brandan Lingle Individual 28. Aug 18 28. Aug 18 -10,000 €15.49 €-154,910
X
Management checks
We assess Surgery Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Surgery Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Map
Description

Surgery Partners, Inc., through its subsidiaries, operates surgical facilities in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management. The company’s surgical hospitals also provide ancillary services, such as diagnostic imaging, pharmacy, laboratory, obstetrics, oncology, physical therapy, and wound care; and a suite of ancillary services, which consist of a diagnostic laboratory, multi-specialty physician practices, urgent care facilities, anesthesia services, and optical services. It also operates optical laboratory that manufactures eyewear. As of March 12, 2018, the company operated approximately 180 locations in 32 states, including ambulatory surgery centers, surgical hospitals, a diagnostic laboratory, multi-specialty physician practices, and urgent care facilities. Surgery Partners, Inc. was founded in 2004 and is headquartered in Brentwood, Tennessee.

Details
Name: Surgery Partners, Inc.
1SP
Exchange: DB
Founded: 2004
$550,859,338
48,891,520
Website: http://www.surgerypartners.com
Address: Surgery Partners, Inc.
310 Seven Springs Way,
Suite 500,
Brentwood,
Tennessee, 37027,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS SGRY New Common Stock Nasdaq Global Select US USD 02. Oct 2015
DB 1SP New Common Stock Deutsche Boerse AG DE EUR 02. Oct 2015
Number of employees
Current staff
Staff numbers
8,950
Surgery Partners employees.
Industry
Health Care Facilities
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/21 22:25
End of day share price update: 2019/02/21 00:00
Last estimates confirmation: 2019/02/03
Last earnings filing: 2018/11/09
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.