Universal Health Services (UHS) FY2020 results: revenue $11.6 billion, up 1.6% on the year
Universal Health Services Inc. (UHS) reported revenue of $11.6 billion for fiscal 2020, the year ended 31 December 2020, up 1.6% on the year before. Net income was $944 million, up 15.8%, and diluted earnings per share $10.99. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$11.6 billion
+1.6% on the year
FY2013FY2020
Operating margin
11.8%
10.7% a year earlier
FY2013FY2020
Net income
$944 million
+15.8% on the year
FY2013FY2020
Diluted EPS
$10.99
+20.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,559
11,378
10,772
+1.6%
Operating income
1,358
1,216
1,175
+11.7%
Operating margin
11.8%
10.7%
10.9%
Interest expense
106
163
155
-34.7%
Pre-tax income
1,252
1,066
1,035
+17.4%
Income tax
299
239
237
+25.3%
Effective tax rate
23.9%
22.4%
22.9%
Net income
944
815
780
+15.8%
Net margin
8.2%
7.2%
7.2%
Diluted EPS
$10.99
$9.13
$8.31
+20.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,360
1,438
1,275
+64.1%
Capital expenditure
731
634
665
+15.3%
Free cash flow
1,629
804
610
+102.5%
Free cash flow margin
14.1%
7.1%
5.7%
Cash from investing
-803
-688
-747
Cash from financing
-385
-845
-492
Depreciation and amortisation
510
490
453
+4.1%
Share-based compensation
65.8
69.4
66.6
-5.2%
Buybacks
207
771
397
-73.2%
Dividends paid
17.3
53.0
37.3
-67.3%
Dividend per share
n/a
$0.60
$0.40
Diluted shares, weighted
86m
89m
94m
-3.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,317
5,504
5,389
+14.8%
Non-controlling interest
84.8
74.8
76.5
+13.4%
Redeemable equity
4.6
4.3
4.3
+5.4%
Debt
3,856
3,984
3,999
-3.2%
Operating lease liabilities
278
270
0.0
+3.0%
Finance lease liabilities
50.8
16.4
n/a
+210.8%
Other liabilities
2,885
1,814
1,797
+59.0%
Total liabilities and equity
13,477
11,668
11,265
+15.5%
Fixed assets
5,373
5,017
4,848
+7.1%
Goodwill
3,883
3,870
3,845
+0.3%
Intangible assets
82.6
83.7
173
-1.3%
Cash and equivalents
1,224
61.3
105
+1,898.6%
Receivables
1,729
1,561
1,510
+10.8%
Other assets
1,185
1,076
785
+10.1%
Total assets
13,477
11,668
11,265
+15.5%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.