Financials Universal Health Services, Inc.

Equities

UHS

US9139031002

Healthcare Facilities & Services

Market Closed - Nyse Other stock markets 04:00:01 2024-04-26 pm EDT			5-day change	1st Jan Change
166.1 ^USD	+0.58%		+5.46%	+8.93%

Apr. 26	Leerink Partners Adjusts Price Target on Universal Health Services to $195 From $192	MT
Apr. 26	Deutsche Bank Adjusts Price Target on Universal Health Services to $208 From $203	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	12,564	11,684	10,421	10,060	10,405	11,182	-	-
Enterprise Value (EV) ¹	16,487	14,316	14,496	14,766	15,198	15,669	15,860	15,676
P/E ratio	15.7 x	12.5 x	11 x	15.4 x	14.9 x	12 x	11.1 x	9.6 x
Yield	0.42%	0.15%	0.62%	0.57%	0.52%	0.49%	0.49%	0.5%
Capitalization / Revenue	1.1 x	1.01 x	0.82 x	0.75 x	0.73 x	0.72 x	0.68 x	0.65 x
EV / Revenue	1.45 x	1.24 x	1.15 x	1.1 x	1.06 x	1.01 x	0.97 x	0.9 x
EV / EBITDA	9.15 x	7.66 x	7.64 x	8.99 x	8.72 x	7.77 x	7.54 x	6.95 x
EV / FCF	20.5 x	8.79 x	517 x	56.4 x	29 x	20.9 x	19.3 x	17.3 x
FCF Yield	4.88%	11.4%	0.19%	1.77%	3.45%	4.79%	5.17%	5.79%
Price to Book	2.28 x	1.85 x	1.76 x	1.68 x	1.74 x	1.7 x	1.52 x	1.36 x
Nbr of stocks (in thousands)	87,582	84,982	80,377	71,410	68,259	67,334	-	-
Reference price ²	143.5	137.5	129.7	140.9	152.4	166.1	166.1	166.1
Announcement Date	2/26/20	2/25/21	2/24/22	2/27/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	11,378	11,559	12,642	13,399	14,282	15,555	16,403	17,323
EBITDA ¹	1,802	1,869	1,896	1,643	1,743	2,017	2,103	2,255
EBIT ¹	1,325	1,358	1,363	1,004	1,175	1,417	1,473	1,608
Operating Margin	11.64%	11.75%	10.78%	7.49%	8.23%	9.11%	8.98%	9.28%
Earnings before Tax (EBT) ¹	1,066	1,252	1,293	866.3	940.4	1,210	1,257	1,407
Net income ¹	814.9	944	991.6	675.6	717.8	924	960.6	1,044
Net margin	7.16%	8.17%	7.84%	5.04%	5.03%	5.94%	5.86%	6.03%
EPS ²	9.130	10.99	11.82	9.140	10.23	13.83	15.01	17.31
Free Cash Flow ¹	804.4	1,629	28.04	262	524.7	751	820	907
FCF margin	7.07%	14.09%	0.22%	1.96%	3.67%	4.83%	5%	5.24%
FCF Conversion (EBITDA)	44.63%	87.16%	1.48%	15.95%	30.1%	37.23%	38.99%	40.22%
FCF Conversion (Net income)	98.71%	172.56%	2.83%	38.78%	73.1%	81.28%	85.36%	86.84%
Dividend per Share ²	0.6000	0.2000	0.8000	0.8000	0.8000	0.8098	0.8172	0.8283
Announcement Date	2/26/20	2/25/21	2/24/22	2/27/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	3,156	3,275	3,293	3,323	3,336	3,447	3,468	3,548	3,563	3,704	3,844	3,866	3,882	4,003	4,021
EBITDA ¹	442.6	447	376.6	377.3	415.7	467.3	420.3	423.9	411.1	476.7	529.8	486.9	476.9	529.5	542.2
EBIT ¹	314.8	313.6	232.9	233.4	275.9	261.4	278.7	280.1	285.4	331.2	388.8	340.7	327.4	371.3	383.4
Operating Margin	9.97%	9.58%	7.07%	7.02%	8.27%	7.58%	8.04%	7.9%	8.01%	8.94%	10.11%	8.81%	8.43%	9.28%	9.53%
Earnings before Tax (EBT) ¹	286.9	306.7	200	209.7	234.2	222.3	214.1	224.7	220.5	281.1	336.1	299.1	273.3	311	319.9
Net income ¹	218.4	239.1	153.9	164.1	182.8	174.8	163.1	171.3	167	216.4	261.8	219.6	201	241	247.3
Net margin	6.92%	7.3%	4.67%	4.94%	5.48%	5.07%	4.7%	4.83%	4.69%	5.84%	6.81%	5.68%	5.18%	6.02%	6.15%
EPS ²	2.600	3.000	2.020	2.200	2.500	2.430	2.280	2.420	2.400	3.160	3.820	3.247	3.081	3.701	3.929
Dividend per Share ²	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2000	0.2005	0.2011	0.2021
Announcement Date	10/25/21	2/24/22	4/25/22	7/25/22	10/25/22	2/27/23	4/25/23	7/25/23	10/25/23	2/27/24	4/24/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,923	2,632	4,075	4,705	4,793	4,488	4,679	4,494
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.177 x	1.408 x	2.149 x	2.864 x	2.749 x	2.225 x	2.225 x	1.993 x
Free Cash Flow ¹	804	1,629	28	262	525	751	820	907
ROE (net income / shareholders' equity)	16.4%	16%	16%	12.2%	11.9%	14.8%	14.1%	14.1%
ROA (Net income/ Total Assets)	7.78%	7.51%	7.46%	5.49%	5.23%	6.51%	6.62%	6.9%
Assets ¹	10,477	12,573	13,284	12,299	13,731	14,193	14,521	15,128
Book Value Per Share ²	62.80	74.30	73.80	83.80	87.70	97.90	109.0	122.0
Cash Flow per Share ²	16.20	27.60	10.60	13.50	18.10	22.10	24.40	-
Capex ¹	634	731	856	734	743	950	956	982
Capex / Sales	5.57%	6.33%	6.77%	5.48%	5.2%	6.11%	5.83%	5.67%
Announcement Date	2/26/20	2/25/21	2/24/22	2/27/23	2/27/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Universal Health Services, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

166.1 USD

Average target price

189.4 USD

Spread / Average Target

+14.07%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Healthcare Facilities & Services

	1st Jan change	Capi.
UNIVERSAL HEALTH SERVICES, INC.	+8.93%	11.18B
CVS HEALTH CORPORATION	-14.92%	84.68B
HCA HEALTHCARE, INC.	+13.30%	81.12B
DR. SULAIMAN AL HABIB MEDICAL SERVICES GROUP COMPANY	+10.92%	29.4B
LABORATORY CORPORATION OF AMERICA HOLDINGS	-12.71%	16.73B
FRESENIUS SE & CO. KGAA	-3.06%	16.36B
QUEST DIAGNOSTICS INCORPORATED	-2.63%	14.92B
EUROFINS SCIENTIFIC SE	-3.97%	11.66B
FRESENIUS MEDICAL CARE AG	-1.42%	11.72B
PURE HEALTH HOLDING	-31.75%	11.77B

Other Healthcare Facilities & Services