Filing Flows › Universal Health Services (UHS) › Q3 2026 › vs Q3 2025
Universal Health Services (UHS) Q3 2026 vs Q3 2025 (year over year)
Universal Health Services's revenue rose $238M (+5%) from $4.5B in Q3 2025 to $4.7B in Q3 2026. The biggest changes: Managed Medicare +$59.7M (+12%); Other Patient Revenue and Adjustments Net +$42.8M (+13%); Medicare +$37.5M (+8%). Operating margin 9.6% against 11.6% (-2.0 pts).
Universal Health Services, Q3 2026: revenue $4.7B (+5% year over year), operating margin 9.6%, net earnings $309M, operating cash flow $637M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 9.6% | 11.6% | -2.0 pts |
| Net margin | 6.5% | 8.3% | -1.8 pts |
| Free cash flow margin | 8.9% | 3.4% | +5.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Managed Care | $1.2B | $1.2B | −$7.4M | -0.6% |
| Medicaid | $798M | $766M | $31.5M | +4% |
| Managed Medicaid | $655M | $628M | $26.7M | +4% |
| Managed Medicare | $576M | $517M | $59.7M | +12% |
| Medicare | $498M | $461M | $37.5M | +8% |
| Other Patient Revenue and Adjustments Net | $362M | $319M | $42.8M | +13% |
| Other Non Patient Revenue | $311M | $299M | $12.9M | +4% |
| UK Revenue | $299M | $264M | $34.5M | +13% |
| Revenue | $4.7B | $4.5B | $238M | +5% |
| Operating profit | $454M | $522M | −$67.2M | -13% |
| Costs & expenses | $4.3B | $4.0B | $305M | +8% |
| Pre-tax earnings | $414M | $497M | −$83.0M | -17% |
| Other expense, net | $40.5M | $24.8M | $15.7M | +63% |
| Net earnings | $309M | $373M | −$64.3M | -17% |
| Minority interests | $4.6M | $6.1M | −$1.5M | -24% |
| Income tax | $101M | $118M | −$17.2M | -15% |
| Depreciation & amortization | $175M | $155M | $19.8M | +13% |
| Share-based compensation | $26.4M | $24.9M | $1.5M | +6% |
| Working capital & other | $127M | −$172M | $299M | — |
| Operating cash flow | $637M | $381M | $256M | +67% |
| Free cash flow (OCF − capex) | $422M | $152M | $270M | +178% |
| Capital expenditures | $215M | $229M | −$13.9M | -6% |
Questions
How much did Universal Health Services's revenue grow year over year in Q3 2026?
Universal Health Services's revenue rose $238M (+5%) from $4.5B in Q3 2025 to $4.7B in Q3 2026.
What drove Universal Health Services's revenue change in Q3 2026?
Managed Medicare +$59.7M (+12%); Other Patient Revenue and Adjustments Net +$42.8M (+13%); Medicare +$37.5M (+8%).