Universal Health Services Past Earnings Performance
Past criteria checks 6/6
Universal Health Services has been growing earnings at an average annual rate of 9.9%, while the Healthcare industry saw earnings growing at 2.7% annually. Revenues have been growing at an average rate of 7.9% per year. Universal Health Services's return on equity is 20.4%, and it has net margins of 8.6%.
Key information
9.90%
Earnings growth rate
16.93%
EPS growth rate
| Healthcare Industry Growth | 8.50% |
| Revenue growth rate | 7.88% |
| Return on equity | 20.36% |
| Net Margin | 8.56% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 24
UHS: Future Medicaid Policy And Volume Trends Will Drive Upside
Universal Health Services' updated analyst price target has been reduced by about $34 to reflect slightly lower projected revenue growth, profit margins, and future P/E assumptions, as analysts factor in recent hospital survey data, softer surgical volumes, and potential Medicaid-related headwinds. Analyst Commentary Recent research on Universal Health Services highlights a mix of optimism and caution as analysts reassess growth trajectories, Medicaid exposure, and valuation following fresh hospital survey data and proposed policy changes.
Narrative Update • May 14
UHS: 2026 EBITDA Outlook And Buybacks Will Support Future Upside
The analyst price target for Universal Health Services is updated lower to about $277 from roughly $302 as analysts factor in weaker acute segment trends, slightly softer growth and margin expectations, a higher discount rate, and a lower assumed future P/E multiple. Analyst Commentary Recent research updates on Universal Health Services are mixed, but there are some clear positive threads you should keep in mind as you assess the stock.Narrative Update • Apr 28
UHS: Future Volume Recovery Will Drive Upside From Aggressive Buybacks
Analysts have trimmed their blended price target for Universal Health Services by about $1 to reflect recent target reductions from several firms, citing weaker Q4 acute segment results and expectations for stronger future volume and core growth, even as some forecasts and P/E assumptions have been adjusted in line with updated company guidance. Analyst Commentary Recent research shows a mix of optimism and caution around Universal Health Services, with price targets moving both higher and lower as analysts factor in Q4 results, updated guidance, and exposure to policy changes.Seeking Alpha • Apr 15
Universal Health Services Is A Huge Bargain At 8x Earnings Vs HCA At 16x
Summary Universal Health Services (UHS) trades at a decade-low valuation despite strong EPS growth and robust capital returns. UHS guides for 2026 revenue, EBITDA, and EPS growth of 7%, 5%, and 9% at the midpoint, outpacing peer HCA. Key risks include ACA subsidy expirations and Medicaid reimbursement cuts, but downside appears priced in at current levels. Significant buybacks, cost controls, and AI-driven efficiencies provide technical and operational support; I see an asymmetric risk/reward favoring upside. Read the full article on Seeking AlphaNarrative Update • Apr 13
UHS: 2026 EBITDA Guidance Will Support Upside Despite Acute Care Weakness
Narrative Update on Universal Health Services The updated analyst price target for Universal Health Services now reflects a modest reduction of about $24 on balance, as analysts weigh weaker Q4 acute care results and cautious views on core growth against refreshed guidance and longer term estimates. Analyst Commentary Recent research on Universal Health Services points to a mixed but generally constructive tone, with several firms adjusting price targets to reflect weaker acute care trends in Q4 alongside updated guidance and longer term estimates.Narrative Update • Mar 30
UHS: Future Volumes And Policy Risk Will Drive Upside From Buybacks
Analyst price targets for Universal Health Services have edged lower by $1.65. This reflects mixed views on weaker recent acute results, guidance that aligns with consensus but assumes stronger future volumes, and differing opinions on the impact of policy changes and payor mix risk.Narrative Update • Mar 16
UHS: 2026 EBITDA Outlook Will Support Upside Despite Policy Headwinds
Analyst price targets for Universal Health Services have reset modestly lower overall, with moves ranging from cuts to $212 and $229 to increases up to $268. Analysts are factoring in weaker recent acute results, ongoing policy exposure, and management's guidance that assumes stronger volumes and core growth ahead.Narrative Update • Mar 02
UHS: 2026 EBITDA Guidance Will Offset ACA Subsidy Policy Risks
Narrative Update The updated analyst price target for Universal Health Services edges slightly lower to about $300. This reflects a mix of reduced targets tied to weaker acute Q4 results and policy headwinds, partly offset by higher targets from analysts who see 2026 EBITDA guidance as supportive and have refreshed longer term estimates.
Narrative Update • Feb 16
UHS: Payor Mix And ACA Subsidy Risk Will Pressure Future Returns
Narrative Update on Universal Health Services The updated analyst price target for Universal Health Services shifts from a fair value estimate of $165.00 to $200.67. Analysts factor in a slightly higher discount rate, modestly lower modeled revenue growth, and higher projected profit margins, alongside recent Street research that reflects recalibrated targets and views on payor mix risk and rating changes.Narrative Update • Feb 02
UHS: Resilient Margins Are Expected To Offset ACA Subsidy Headwinds
Analysts have trimmed their price targets on Universal Health Services, and our updated work reflects a modest fair value adjustment of about US$1 lower to US$300.03 as they factor in potential payor mix headwinds tied to a slimmer chance of ACA subsidy extension, while still assuming steady margins and a similar future P/E multiple. Analyst Commentary Recent Street research shows analysts revisiting their assumptions on Universal Health Services as they factor in a slimmer chance of ACA subsidy extension and the potential for related payor mix headwinds.Narrative Update • Jan 19
UHS: Strong Q3 Execution And Buybacks Will Shape Policy Risk Outcome
Analysts have trimmed their blended price target for Universal Health Services by about US$2 to reflect slightly lower fair value and profit margin assumptions, while also factoring in recent research that balances stronger demand trends and updated EBITDA forecasts against potential ACA subsidy and payor mix risks. Analyst Commentary Recent Street research on Universal Health Services presents a mixed picture, with several firms raising their valuation frameworks following Q3 results and updated EBITDA forecasts, while others are turning more cautious as policy and payor mix risks come into sharper focus.Narrative Update • Jan 05
UHS: Strong Q3 Execution And Buybacks Will Test Policy Risk Concerns
Analysts have lifted their price target framework for Universal Health Services by about US$2 to reflect modestly higher long term fair value, with recent research citing stronger Q3 EBITDA, updated 2027 estimates, solid demand trends, and an undemanding P/E multiple, even as some highlight ongoing policy and admissions volume risks. Analyst Commentary Bullish Takeaways Bullish analysts point to Q3 results that came in above guidance and consensus, which they see as a sign of improving execution and a foundation for their higher long term fair value views.Analysis Article • Jan 02
With EPS Growth And More, Universal Health Services (NYSE:UHS) Makes An Interesting Case
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Dec 19
UHS: Sustained Behavioral Demand And Buybacks Are Expected To Drive Upside
The analyst price target for Universal Health Services has been raised by about $24 to approximately $301 per share, as analysts incorporate stronger than expected Q3 execution, higher EBITDA estimates through 2027, and resilient demand trends into their valuation frameworks. Analyst Commentary Bullish analysts have raised their price targets following the latest quarterly results, highlighting the companys ability to outperform guidance while sustaining solid underlying demand, particularly in its acute and behavioral health segments.Narrative Update • Dec 05
UHS: Future Performance Will Balance Policy Risks And Behavioral Demand Execution
We are raising our price target for Universal Health Services slightly to approximately $250 per share from about $249 per share, reflecting analysts' modestly higher long term EBITDA forecasts, stronger Q3 execution, and an improved valuation framework, despite ongoing policy and reimbursement uncertainties. Analyst Commentary Street research following the latest quarterly results has turned more constructive overall, with multiple bullish analysts lifting price targets into the mid to high $260s and upgrading their outlook on execution and growth.Narrative Update • Nov 21
UHS: Future Performance Will Reflect Policy Risks And Behavioral Segment Improvements
Analysts have raised their fair value estimate for Universal Health Services from $243.94 to $248.71. They cite improving EBITDA outlooks, strong demand trends, and above-consensus quarterly results as key drivers behind the upward revision.Narrative Update • Nov 06
UHS: Future Profitability Will Depend On Managing Policy Risks And Behavioral Volumes
The analyst fair value estimate for Universal Health Services has risen from $224.19 to $243.94. This change reflects improved sentiment after strong quarterly results and continued demand trends, according to analysts.Analysis Article • Oct 30
Universal Health Services, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
Universal Health Services, Inc. ( NYSE:UHS ) just released its latest third-quarter results and things are looking...Narrative Update • Oct 23
Analysts Adjust Fair Value Estimates for Universal Health Services Amid Mixed Outlook and Recent Developments
Analysts have modestly raised their fair value estimate for Universal Health Services to $224.19, citing updated state-directed payment programs and an improved profit margin outlook as key factors supporting the adjustment. Analyst Commentary Recent analyst reports have provided updated perspectives on Universal Health Services, reflecting both positive developments and ongoing concerns that may impact the company’s future performance and valuation.Narrative Update • Oct 08
Outpatient Behavioral Health Expansion And Digital Health Will Redefine Healthcare
The analyst price target for Universal Health Services has been modestly raised by $2.50 to $220.81. This adjustment reflects updated estimates for state-directed payments and mixed performance trends cited by analysts.Narrative Update • Sep 04
Outpatient Behavioral Health Expansion And Digital Health Will Redefine Healthcare
Analysts maintained their price target for Universal Health Services at $218.31 as improving but still disappointing behavioral health volumes and ongoing start-up losses were offset by the benefits from Tennessee Medicaid expansion, resulting in no change to fair value. Analyst Commentary Behavioral health volumes are showing improvement but remain below internal expectations.Analysis Article • Jul 31
Universal Health Services, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Last week saw the newest second-quarter earnings release from Universal Health Services, Inc. ( NYSE:UHS ), an...Analysis Article • Jul 09
These 4 Measures Indicate That Universal Health Services (NYSE:UHS) Is Using Debt Reasonably Well
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Seeking Alpha • Mar 07
Universal Health Services A Bargain With Medicaid Cuts Fears Baked Into Stock Price
Summary Universal Health Services (UHS) has shown consistent EPS growth, up 11% annually. We note recent stock de-rating over Medicaid cut concerns. UHS operates 419 hospitals, with a balanced revenue mix from Acute Care and Behavioral Health, and significant exposure to Medicaid at 25% of total revenue. Despite excellent Q4 results and moderating nursing costs, UHS stock fell due to fears of imminent Medicaid cuts, which are politically contentious and uncertain. Valuation is attractive at under 10x forward earnings, with potential upside to $300 if Medicaid cuts are avoided, making UHS a buy with patience. Read the full article on Seeking AlphaSeeking Alpha • Dec 04
Universal Health Services: A Healthy Business That Should Translate To Healthy Upside
Summary Universal Health Services has shown significant financial improvement, with revenue, profits, and cash flows all increasing year over year, driven by higher occupancy rates. Despite a 30.2% stock price increase since July 2023, shares remain attractively priced, prompting management to continue share buybacks. The company’s Acute Care Hospital Services and Behavioral Health Care Services segments both reported robust revenue growth, contributing to overall financial strength. Management's updated guidance for 2024 indicates continued optimism, with expected revenue and EBITDA increases, reinforcing my bullish ‘buy’ rating. Read the full article on Seeking AlphaSeeking Alpha • Sep 17
Universal Health Services: Stock Has Lots Of Upside Runway
Summary Universal Health Services looks promising as a long-term investment due to its low valuation and strong earnings growth. The company's increases in margins and facility capacity can help drive long-term growth. Expected market growth and industry trends favor Universal Health Services' growth potential. Read the full article on Seeking Alpha
New Narrative • Aug 21
Strategic Investments And Medicaid Programs Fuel Growth
Expansion in Medicaid supplemental payments and strategic cost management initiatives are poised to enhance revenues and net margins.Seeking Alpha • Jul 04
Universal Health Services: An Underpriced Healthy Business
Summary UHS is a mid-cap healthcare company with consistent growth and shareholder value creation. Financials show revenue and EPS growth, but recent margin declines due to higher expenses. Margins are expected to return over FY24 and FY25. Positive outlook for UHS with projected revenue growth, improving margins, and potential for up to 40% upside in stock price. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Universal Health Services makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 17,760 | 1,521 | 150 | 0 |
| 31 Dec 25 | 17,365 | 1,489 | 148 | 0 |
| 30 Sep 25 | 16,993 | 1,375 | 148 | 0 |
| 30 Jun 25 | 16,460 | 1,261 | 147 | 0 |
| 31 Mar 25 | 16,084 | 1,197 | 148 | 0 |
| 31 Dec 24 | 15,828 | 1,142 | 146 | 0 |
| 30 Sep 24 | 15,418 | 1,026 | 143 | 0 |
| 30 Jun 24 | 15,018 | 934 | 142 | 0 |
| 31 Mar 24 | 14,658 | 816 | 142 | 0 |
| 31 Dec 23 | 14,282 | 717 | 141 | 0 |
| 30 Sep 23 | 14,025 | 676 | 140 | 0 |
| 30 Jun 23 | 13,799 | 692 | 138 | 0 |
| 31 Mar 23 | 13,574 | 684 | 135 | 0 |
| 31 Dec 22 | 13,399 | 675 | 132 | 0 |
| 30 Sep 22 | 13,228 | 739 | 127 | 0 |
| 30 Jun 22 | 13,048 | 774 | 122 | 0 |
| 31 Mar 22 | 12,922 | 935 | 120 | 0 |
| 31 Dec 21 | 12,642 | 990 | 119 | 0 |
| 30 Sep 21 | 12,454 | 1,059 | 120 | 0 |
| 30 Jun 21 | 12,210 | 1,081 | 120 | 0 |
| 31 Mar 21 | 11,742 | 1,008 | 119 | 0 |
| 31 Dec 20 | 11,559 | 941 | 116 | 0 |
| 30 Sep 20 | 11,368 | 878 | 112 | 0 |
| 30 Jun 20 | 11,278 | 734 | 112 | 0 |
| 31 Mar 20 | 11,404 | 721 | 110 | 0 |
| 31 Dec 19 | 11,378 | 813 | 108 | 0 |
| 30 Sep 19 | 11,237 | 726 | 106 | 0 |
| 30 Jun 19 | 11,063 | 801 | 105 | 0 |
| 31 Mar 19 | 10,889 | 789 | 106 | 0 |
| 31 Dec 18 | 10,772 | 779 | 106 | 0 |
| 30 Sep 18 | 10,661 | 840 | 106 | 0 |
| 30 Jun 18 | 10,554 | 810 | 106 | 0 |
| 31 Mar 18 | 10,485 | 770 | 105 | 0 |
| 31 Dec 17 | 10,410 | 752 | 103 | 0 |
| 30 Sep 17 | 10,243 | 707 | 102 | 0 |
| 30 Jun 17 | 10,111 | 717 | 99 | 0 |
| 31 Mar 17 | 9,929 | 717 | 98 | 0 |
| 31 Dec 16 | 9,766 | 702 | 97 | 0 |
| 30 Sep 16 | 9,606 | 702 | 97 | 0 |
| 30 Jun 16 | 9,424 | 700 | 98 | 0 |
| 31 Mar 16 | 9,268 | 697 | 97 | 0 |
| 31 Dec 15 | 9,043 | 680 | 95 | 0 |
| 30 Sep 15 | 8,905 | 679 | 94 | 0 |
Quality Earnings: UHS has high quality earnings.
Growing Profit Margin: UHS's current net profit margins (8.6%) are higher than last year (7.4%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: UHS's earnings have grown by 9.9% per year over the past 5 years.
Accelerating Growth: UHS's earnings growth over the past year (27.1%) exceeds its 5-year average (9.9% per year).
Earnings vs Industry: UHS earnings growth over the past year (27.1%) exceeded the Healthcare industry 16%.
Return on Equity
High ROE: UHS's Return on Equity (20.4%) is considered high.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/01 21:54 |
| End of Day Share Price | 2026/07/01 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Universal Health Services, Inc. is covered by 29 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Hua Ha | Baird |
| Adam Feinstein | Barclays |
| Andrew Mok | Barclays |