Ensign Group vs Surgery Partners
Ensign Group is the larger business, with $5.06bn of revenue in fiscal 2025 against $3.31bn for Surgery Partners (1.5 times as much). Ensign Group grew faster (18.7% against 6.2%). Ensign Group kept more of each dollar of sales as profit: a net margin of 6.8% against -2.4%. Ensign Group carries less debt relative to equity (6.5% against 218.1%).
| Latest fiscal year | Ensign GroupENSG, 2025 | Surgery PartnersSGRY, 2025 |
|---|---|---|
| Revenue | $5.06bn | $3.31bn |
| Revenue growth | 18.7% | 6.2% |
| Net income | $344m | −$77.9m |
| Operating margin | 8.4% | 11.8% |
| Net margin | 6.8% | -2.4% |
| Return on equity | 16.9% | -4.4% |
| Free cash flow | $564m | $196m |
| Cash | $504m | $240m |
| Total debt | $144m | $3.74bn |
| Debt to equity | 6.5% | 218.1% |
| Dividend per share | $0.25 | — |
| Dividend yield | 0.1% | — |
| Share buybacks | $20.0m | — |
| Employees | 46,000 | 16,000 |
| Market value | $10.72bn | $3.03bn |
| Price vs our value range | Below our value range | — |
| Moat score | 55 (Moderate) | 40 (Weak) |
| Insider trades, 12 months | 0 buys, 49 sales | 2 buys, 12 sales |