Ensign Group vs Universal Health Services
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The short version
- Universal Health Services is the larger business, with $17.4B of revenue in fiscal 2025 against $5.1B for Ensign Group, about 3.4 times as much.
- Ensign Group grew revenue faster (18.7%, against 9.7%).
- Universal Health Services kept more of each dollar of sales as operating profit (11.5% operating margin, against 8.4%).
- Ensign Group earned a higher return on the capital invested in it (19.7%, against 13.1%).
- Investors pay more for each dollar of Ensign Group’s earnings: a P/E of 27.5x against 7.6x for Universal Health Services.
| Latest fiscal year | ENSG · FY25 | UHS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.4B | $11.2B |
| Revenue | $5.1B | $17.4B |
| Free cash flow | — | $849M |
| Net income | $344M | $1.5B |
| Growth | ||
| Revenue growth | 18.7% | 9.7% |
| 5-year growth | 16.1% | 8.5% |
| Share count change | 1.1% | −5.1% |
| Profitability | ||
| Gross margin | 20.5% | — |
| Operating margin | 8.4% | 11.5% |
| Net margin | 6.8% | 8.6% |
| FCF margin | — | 4.9% |
| Return on capital | 19.7% | 13.1% |
| Return on equity | 16.9% | 21.4% |
| Balance sheet | ||
| Net debt | −$428M | $4.7B |
| Net debt / EBITDA | −0.8x | 1.8x |
| Dividends and buybacks | $34.4M | $1.0B |
| Valuation & quality | ||
| P/E | 27.5x | 7.6x |
| Piotroski F-score | 6 | 6 |
Revenue
FY16
ENSG $1.7B
UHS $9.8B
FY17
ENSG $1.6B
UHS $10.4B
FY18
ENSG $1.8B
UHS $10.8B
FY19
ENSG $2.0B
UHS $11.4B
FY20
ENSG $2.4B
UHS $11.6B
FY21
ENSG $2.6B
UHS $12.6B
FY22
ENSG $3.0B
UHS $13.4B
FY23
ENSG $3.7B
UHS $14.3B
FY24
ENSG $4.3B
UHS $15.8B
FY25
ENSG $5.1B
UHS $17.4B
ENSG
UHS
Operating margin
FY16
ENSG 5.6%
UHS 13.1%
FY17
ENSG 2.7%
UHS 12.3%
FY18
ENSG 4.8%
UHS 10.9%
FY19
ENSG 6.3%
UHS 10.7%
FY20
ENSG 9.3%
UHS 11.8%
FY21
ENSG 9.9%
UHS 10.8%
FY22
ENSG 9.8%
UHS 7.5%
FY23
ENSG 6.9%
UHS 8.2%
FY24
ENSG 8.4%
UHS 10.6%
FY25
ENSG 8.4%
UHS 11.5%
ENSG
UHS
Free cash flow
FY16
ENSG $8.2M
UHS $814M
FY17
ENSG $25.5M
UHS $690M
FY18
ENSG $159M
UHS $610M
FY19
ENSG $121M
UHS $804M
FY20
ENSG —
UHS $1.6B
FY21
ENSG —
UHS $28.0M
FY22
ENSG —
UHS $262M
FY23
ENSG —
UHS $525M
FY24
ENSG —
UHS $1.1B
FY25
ENSG —
UHS $849M
ENSG
UHS
Return on capital
FY16
ENSG 9.8%
UHS 10.1%
FY17
ENSG 3.3%
UHS 9.8%
FY18
ENSG 8.9%
UHS 9.9%
FY19
ENSG 11.9%
UHS 10.0%
FY20
ENSG 22.0%
UHS 11.1%
FY21
ENSG 25.1%
UHS 10.7%
FY22
ENSG 23.3%
UHS 7.2%
FY23
ENSG 17.9%
UHS 8.2%
FY24
ENSG 21.4%
UHS 11.7%
FY25
ENSG 19.7%
UHS 13.1%
ENSG
UHS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.