Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
In fiscal 2025, SELECT MEDICAL HOLDINGS CORP recorded $5.45B of revenue, net income of $146.22M, and an operating cash inflow of $346.47M. At $5.45B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 5.1% from $5.19B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $1.16, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 30.1% decrease from fiscal 2024 diluted EPS of $1.66. The revenue-to-assets relationship was 0.93x, showing the sales generated relative to the resources carried on the balance sheet.Profitability
The first profit layer was $629.29M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 11.5% of revenue, showing how much of the top line remained after direct costs. The reported operating result was $336.17M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 6.2%, showing how efficiently sales converted into operating profit. After all reported below-operating-line items, the company recorded net income of $146.22M for the fiscal year. Net margin was 2.7%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $272.75M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 5.0% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $58.22M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 21.3%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 7.2%, indicating the profitability achieved on book capital. Return on period-end assets was 2.5%, connecting net income with the company’s total asset base.Liquidity and Capital Structure
Total assets were $5.85B, supported by $3.82B of liabilities and $2.02B of shareholder equity. The near-term balance sheet paired $1.03B of current assets with $984.49M of current liabilities at the reporting date. Current assets covered current liabilities by 1.04x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $26.52M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 2.7% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The liabilities-to-assets relationship was 65.2%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 0.5% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 4.3% higher than fiscal 2024 assets of $5.61B, measuring the company’s own balance-sheet change.Cash Flow and Earnings Quality
Cash flow from operations was $346.47M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 2.37x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $229.22M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 66.2%, connecting investment intensity with the company’s cash-generation base. After capital spending, free cash flow was $117.24M, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 2.2%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 2.0% of total assets, relating post-investment cash generation to the company’s resource base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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