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Ardent Health vs Surgery Partners: ARDT and SGRY compared
Ardent Health is the larger company: $1.6B of revenue in its latest quarter (Q3 2026) against $849M for Surgery Partners (Q2 2026). Ardent Health is growing faster (+3% against +3% a year earlier). Surgery Partners is more profitable, with an operating margin of 12.0% against 5.0%.
Where the money goes: ARDT and SGRY
Ardent Health (ARDT) · Q3 2026
Ardent Health, Q3 2026: revenue $1.6B (+3% year over year), operating margin 5.0%, net earnings $44.5M, operating cash flow $122M. The chart follows the revenue to costs, profit and cash.
Surgery Partners (SGRY) · Q2 2026
Surgery Partners, Q2 2026: revenue $849M (+3% year over year), operating margin 12.0%, net earnings $29.7M, operating cash flow $59.3M. The chart follows the revenue to costs, profit and cash.
| Ardent Health (ARDT) | Surgery Partners (SGRY) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $1.6B | $849M |
| Revenue growth, Y/Y | +3% | +3% |
| Operating margin | 5.0% | 12.0% |
| Net earnings | $44.5M | $29.7M |
| Net margin | 2.7% | 3.5% |
| Operating cash flow | $122M | $59.3M |
| Free cash flow | — | $37.5M |
| Market value | $2.5B | $3.0B |
| P/E | 10.6× | — |
| Analysts’ mean target | $14.12 | $22.60 |
Where the revenue comes from
Surgery Partners
- Patient service revenues: $828M (98%)
- Other: $20.6M (2%)
Questions
Which is bigger, Ardent Health or Surgery Partners?
Ardent Health is the larger company: $1.6B of revenue in its latest quarter (Q3 2026) against $849M for Surgery Partners (Q2 2026).
Is Ardent Health or Surgery Partners growing faster?
Ardent Health is growing faster (+3% against +3% a year earlier).
Which is more profitable, Ardent Health or Surgery Partners?
Surgery Partners is more profitable, with an operating margin of 12.0% against 5.0%.
More: Ardent Health earnings · how Ardent Health makes money · Surgery Partners earnings · how Surgery Partners makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.