U

UNIVERSAL HEALTH SERVICES, INC.

UHS · CIK 0000352915

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$17.36B9.7%
FY2025
Net income (FY)
$1.49B30.4%
FY2025
Free cash flow (FY)
$849.2M24.4%
FY2025
Diluted EPS (FY)
$23.1037.3%
FY2025
The story, charted

The shape of the business

FY2010–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2010 · Revenue $4.90B · Net income $230.2M · 0001193125-13-084679 · filed 2013-02-28FY10Revenue $4.90BNet income $230.2M0001193125-13-084679 · filed 2013-02-28FY2011 · Revenue $6.76B · Net income $398.2M · 0001193125-14-073337 · filed 2014-02-27FY11Revenue $6.76BNet income $398.2M0001193125-14-073337 · filed 2014-02-27FY2012 · Revenue $6.96B · Net income $443.4M · 0001193125-15-065954 · filed 2015-02-26FY12Revenue $6.96BNet income $443.4M0001193125-15-065954 · filed 2015-02-26FY2013 · Revenue $7.37B · Net income $510.7M · 0001564590-16-013375 · filed 2016-02-25FY13Revenue $7.37BNet income $510.7M0001564590-16-013375 · filed 2016-02-25FY2014 · Revenue $8.21B · Net income $545.3M · 0001564590-17-002860 · filed 2017-02-28FY14Revenue $8.21BNet income $545.3M0001564590-17-002860 · filed 2017-02-28FY2015 · Revenue $9.04B · Net income $680.5M · 0001564590-18-003808 · filed 2018-02-28FY15Revenue $9.04BNet income $680.5M0001564590-18-003808 · filed 2018-02-28FY2016 · Revenue $9.77B · Net income $702.4M · 0001564590-19-004919 · filed 2019-02-27FY16Revenue $9.77BNet income $702.4M0001564590-19-004919 · filed 2019-02-27FY2017 · Revenue $10.41B · Net income $752.3M · 0001564590-20-006793 · filed 2020-02-26FY17Revenue $10.41BNet income $752.3M0001564590-20-006793 · filed 2020-02-26FY2018 · Revenue $10.77B · Net income $779.7M · 0001564590-21-008851 · filed 2021-02-25FY18Revenue $10.77BNet income $779.7M0001564590-21-008851 · filed 2021-02-25FY2019 · Revenue $11.38B · Net income $814.9M · 0001564590-22-006717 · filed 2022-02-24FY19Revenue $11.38BNet income $814.9M0001564590-22-006717 · filed 2022-02-24FY2020 · Revenue $11.56B · Net income $944.0M · 0000950170-23-004656 · filed 2023-02-27FY20Revenue $11.56BNet income $944.0M0000950170-23-004656 · filed 2023-02-27FY2021 · Revenue $12.64B · Net income $991.6M · 0000950170-24-021175 · filed 2024-02-27FY21Revenue $12.64BNet income $991.6M0000950170-24-021175 · filed 2024-02-27FY2022 · Revenue $13.40B · Net income $675.6M · 0000950170-25-027785 · filed 2025-02-26FY22Revenue $13.40BNet income $675.6M0000950170-25-027785 · filed 2025-02-26FY2023 · Revenue $14.28B · Net income $717.8M · 0001193125-26-071676 · filed 2026-02-25FY23Revenue $14.28BNet income $717.8M0001193125-26-071676 · filed 2026-02-25FY2024 · Revenue $15.83B · Net income $1.14B · 0001193125-26-071676 · filed 2026-02-25FY24Revenue $15.83BNet income $1.14B0001193125-26-071676 · filed 2026-02-25FY2025 · Revenue $17.36B · Net income $1.49B · 0001193125-26-071676 · filed 2026-02-25FY25Revenue $17.36BNet income $1.49B0001193125-26-071676 · filed 2026-02-25FY25Revenue $17.36BNet income $1.49B0001193125-26-071676 · filed 2026-02-25FY11FY13FY15FY17FY19FY21FY23FY25

revenue 3.5× since FY2010 · net margin 4.7% → 8.6%

MarginsNet marginFCF margin
0%5%10%15%FY2010 · Net margin 4.7% · FCF margin 5.3%FY10Net margin 4.7%FCF margin 5.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 5.9% · FCF margin 6.3%FY11Net margin 5.9%FCF margin 6.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 6.4% · FCF margin 6.3%FY12Net margin 6.4%FCF margin 6.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 6.9% · FCF margin 7.1%FY13Net margin 6.9%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 6.6% · FCF margin 7.9%FY14Net margin 6.6%FCF margin 7.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 7.5% · FCF margin 7.6%FY15Net margin 7.5%FCF margin 7.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 7.2% · FCF margin 8.3%FY16Net margin 7.2%FCF margin 8.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 7.2% · FCF margin 6.6%FY17Net margin 7.2%FCF margin 6.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 7.2% · FCF margin 5.7%FY18Net margin 7.2%FCF margin 5.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 7.2% · FCF margin 7.1%FY19Net margin 7.2%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 8.2% · FCF margin 14.1%FY20Net margin 8.2%FCF margin 14.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 7.8% · FCF margin 0.2%FY21Net margin 7.8%FCF margin 0.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 5.0% · FCF margin 2.0%FY22Net margin 5.0%FCF margin 2.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 5.0% · FCF margin 3.7%FY23Net margin 5.0%FCF margin 3.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 7.2% · FCF margin 7.1%FY24Net margin 7.2%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 8.6% · FCF margin 4.9%FY25Net margin 8.6%FCF margin 4.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 8.6%FCF margin 4.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’13’17’21’25

FY2025: net 8.6% · free cash flow 4.9% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2BFY2008 · OCF $494.2M · FCF $139.7M · 0001193125-11-050142 · filed 2011-02-28FY08OCF $494.2MFCF $139.7M0001193125-11-050142 · filed 2011-02-28FY2009 · OCF $541.3M · FCF $161.5M · 0001193125-12-081900 · filed 2012-02-27FY09OCF $541.3MFCF $161.5M0001193125-12-081900 · filed 2012-02-27FY2010 · OCF $501.3M · FCF $262.1M · 0001193125-13-084679 · filed 2013-02-28FY10OCF $501.3MFCF $262.1M0001193125-13-084679 · filed 2013-02-28FY2011 · OCF $710.7M · FCF $425.0M · 0001193125-14-073337 · filed 2014-02-27FY11OCF $710.7MFCF $425.0M0001193125-14-073337 · filed 2014-02-27FY2012 · OCF $799.2M · FCF $436.0M · 0001193125-15-065954 · filed 2015-02-26FY12OCF $799.2MFCF $436.0M0001193125-15-065954 · filed 2015-02-26FY2013 · OCF $884.2M · FCF $525.7M · 0001564590-16-013375 · filed 2016-02-25FY13OCF $884.2MFCF $525.7M0001564590-16-013375 · filed 2016-02-25FY2014 · OCF $1.04B · FCF $644.7M · 0001564590-17-002860 · filed 2017-02-28FY14OCF $1.04BFCF $644.7M0001564590-17-002860 · filed 2017-02-28FY2015 · OCF $1.07B · FCF $688.9M · 0001564590-18-003808 · filed 2018-02-28FY15OCF $1.07BFCF $688.9M0001564590-18-003808 · filed 2018-02-28FY2016 · OCF $1.33B · FCF $813.9M · 0001564590-19-004919 · filed 2019-02-27FY16OCF $1.33BFCF $813.9M0001564590-19-004919 · filed 2019-02-27FY2017 · OCF $1.25B · FCF $690.1M · 0001564590-20-006793 · filed 2020-02-26FY17OCF $1.25BFCF $690.1M0001564590-20-006793 · filed 2020-02-26FY2018 · OCF $1.27B · FCF $609.8M · 0001564590-21-008851 · filed 2021-02-25FY18OCF $1.27BFCF $609.8M0001564590-21-008851 · filed 2021-02-25FY2019 · OCF $1.44B · FCF $804.4M · 0001564590-22-006717 · filed 2022-02-24FY19OCF $1.44BFCF $804.4M0001564590-22-006717 · filed 2022-02-24FY2020 · OCF $2.36B · FCF $1.63B · 0000950170-23-004656 · filed 2023-02-27FY20OCF $2.36BFCF $1.63B0000950170-23-004656 · filed 2023-02-27FY2021 · OCF $883.7M · FCF $28.0M · 0000950170-24-021175 · filed 2024-02-27FY21OCF $883.7MFCF $28.0M0000950170-24-021175 · filed 2024-02-27FY2022 · OCF $996.0M · FCF $262.0M · 0000950170-25-027785 · filed 2025-02-26FY22OCF $996.0MFCF $262.0M0000950170-25-027785 · filed 2025-02-26FY2023 · OCF $1.27B · FCF $524.7M · 0001193125-26-071676 · filed 2026-02-25FY23OCF $1.27BFCF $524.7M0001193125-26-071676 · filed 2026-02-25FY2024 · OCF $2.07B · FCF $1.12B · 0001193125-26-071676 · filed 2026-02-25FY24OCF $2.07BFCF $1.12B0001193125-26-071676 · filed 2026-02-25FY2025 · OCF $1.86B · FCF $849.2M · 0001193125-26-071676 · filed 2026-02-25FY25OCF $1.86BFCF $849.2M0001193125-26-071676 · filed 2026-02-25FY25OCF $1.86BFCF $849.2M0001193125-26-071676 · filed 2026-02-25’09’13’17’21’25

FY2025: $1.86B operating cash − $1.02B capex = $849.2M free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%FY2009 · ROE 14.9% · ROA 6.6%FY09ROE 14.9%ROA 6.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 11.6% · ROA 3.1%FY10ROE 11.6%ROA 3.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 17.3% · ROA 5.2%FY11ROE 17.3%ROA 5.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 16.3% · ROA 5.4%FY12ROE 16.3%ROA 5.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 15.7% · ROA 6.1%FY13ROE 15.7%ROA 6.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 14.6% · ROA 6.1%FY14ROE 14.6%ROA 6.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 16.0% · ROA 7.1%FY15ROE 16.0%ROA 7.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 15.5% · ROA 6.8%FY16ROE 15.5%ROA 6.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 15.1% · ROA 7.0%FY17ROE 15.1%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 14.5% · ROA 6.9%FY18ROE 14.5%ROA 6.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 14.8% · ROA 7.0%FY19ROE 14.8%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 14.9% · ROA 7.0%FY20ROE 14.9%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 16.3% · ROA 7.6%FY21ROE 16.3%ROA 7.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 11.4% · ROA 5.0%FY22ROE 11.4%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 11.7% · ROA 5.1%FY23ROE 11.7%ROA 5.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 17.1% · ROA 7.9%FY24ROE 17.1%ROA 7.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 20.5% · ROA 9.6%FY25ROE 20.5%ROA 9.6%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 20.5%ROA 9.6%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 15% (FY2009) → 20% (FY2025) · on assets 9.6%

The receipts