Universal Health Services (UHS) FY2019 results: revenue $11.4 billion, up 5.6% on the year
Universal Health Services Inc. (UHS) reported revenue of $11.4 billion for fiscal 2019, the year ended 31 December 2019, up 5.6% on the year before. Net income was $815 million, up 4.5%, and diluted earnings per share $9.13. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$11.4 billion
+5.6% on the year
FY2012FY2019
Operating margin
10.7%
10.9% a year earlier
FY2012FY2019
Net income
$815 million
+4.5% on the year
FY2012FY2019
Diluted EPS
$9.13
+9.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
11,378
10,772
10,410
+5.6%
Operating income
1,216
1,175
1,280
+3.5%
Operating margin
10.7%
10.9%
12.3%
Interest expense
163
155
145
+5.0%
Pre-tax income
1,066
1,035
1,135
+3.1%
Income tax
239
237
364
+0.9%
Effective tax rate
22.4%
22.9%
32.0%
Net income
815
780
752
+4.5%
Net margin
7.2%
7.2%
7.2%
Diluted EPS
$9.13
$8.31
$7.81
+9.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,438
1,275
1,248
+12.8%
Capital expenditure
634
665
558
-4.6%
Free cash flow
804
610
690
+31.9%
Free cash flow margin
7.1%
5.7%
6.6%
Cash from investing
-688
-747
-685
Cash from financing
-845
-492
-519
Depreciation and amortisation
490
453
448
+8.2%
Share-based compensation
69.4
66.6
56.7
+4.3%
Buybacks
771
397
364
+93.9%
Dividends paid
53.0
37.3
38.2
+41.9%
Dividend per share
$0.60
$0.40
n/a
+50.0%
Diluted shares, weighted
89m
94m
96m
-5.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,504
5,389
4,990
+2.1%
Non-controlling interest
74.8
76.5
61.9
-2.3%
Redeemable equity
4.3
4.3
6.7
+1.0%
Debt
3,984
3,999
4,040
-0.4%
Operating lease liabilities
270
0.0
n/a
Finance lease liabilities
16.4
n/a
n/a
Other liabilities
1,814
1,797
1,664
+1.0%
Total liabilities and equity
11,668
11,265
10,762
+3.6%
Fixed assets
5,017
4,848
4,572
+3.5%
Goodwill
3,870
3,845
3,825
+0.7%
Intangible assets
83.7
173
220
-51.6%
Cash and equivalents
61.3
105
74.4
-41.8%
Receivables
1,561
1,510
1,501
+3.4%
Other assets
1,076
785
570
+37.1%
Total assets
11,668
11,265
10,762
+3.6%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.