Intrinsic value of Surgery Partners - SGRY

Previous Close

$13.69

  Intrinsic Value

$185.75

stock screener

  Rating & Target

str. buy

+999%

Previous close

$13.69

 
Intrinsic value

$185.75

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of SGRY stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  55.40
  50.36
  45.82
  41.74
  38.07
  34.76
  31.78
  29.11
  26.70
  24.53
  22.57
  20.82
  19.23
  17.81
  16.53
  15.38
  14.34
  13.41
  12.56
  11.81
  11.13
  10.51
  9.96
  9.47
  9.02
  8.62
  8.26
  7.93
  7.64
  7.37
Revenue, $m
  1,780
  2,676
  3,903
  5,532
  7,638
  10,293
  13,564
  17,512
  22,188
  27,629
  33,866
  40,916
  48,786
  57,475
  66,975
  77,274
  88,355
  100,199
  112,788
  126,107
  140,139
  154,875
  170,305
  186,428
  203,244
  220,760
  238,987
  257,940
  277,641
  298,114
Variable operating expenses, $m
  1,248
  1,796
  2,545
  3,541
  4,827
  6,450
  8,449
  10,861
  13,718
  17,043
  20,693
  25,001
  29,810
  35,119
  40,924
  47,217
  53,988
  61,225
  68,918
  77,056
  85,630
  94,634
  104,062
  113,914
  124,189
  134,892
  146,029
  157,610
  169,648
  182,158
Fixed operating expenses, $m
  86
  88
  90
  92
  94
  96
  98
  100
  102
  104
  107
  109
  111
  114
  116
  119
  122
  124
  127
  130
  133
  136
  139
  142
  145
  148
  151
  154
  158
  161
Total operating expenses, $m
  1,334
  1,884
  2,635
  3,633
  4,921
  6,546
  8,547
  10,961
  13,820
  17,147
  20,800
  25,110
  29,921
  35,233
  41,040
  47,336
  54,110
  61,349
  69,045
  77,186
  85,763
  94,770
  104,201
  114,056
  124,334
  135,040
  146,180
  157,764
  169,806
  182,319
Operating income, $m
  446
  793
  1,268
  1,900
  2,717
  3,748
  5,018
  6,551
  8,368
  10,482
  13,066
  15,806
  18,864
  22,242
  25,935
  29,938
  34,245
  38,850
  43,744
  48,922
  54,377
  60,105
  66,104
  72,373
  78,910
  85,720
  92,807
  100,176
  107,835
  115,795
EBITDA, $m
  656
  1,028
  1,538
  2,215
  3,091
  4,196
  5,558
  7,202
  9,149
  11,415
  14,013
  16,950
  20,229
  23,849
  27,808
  32,099
  36,716
  41,652
  46,898
  52,448
  58,296
  64,437
  70,867
  77,586
  84,594
  91,894
  99,490
  107,389
  115,600
  124,132
Interest expense (income), $m
  79
  108
  178
  300
  466
  687
  973
  1,334
  1,778
  2,314
  2,949
  3,688
  4,536
  5,493
  6,562
  7,742
  9,032
  10,431
  11,936
  13,545
  15,254
  17,063
  18,969
  20,970
  23,066
  25,256
  27,540
  29,919
  32,394
  34,968
  37,644
Earnings before tax, $m
  338
  615
  969
  1,434
  2,030
  2,774
  3,684
  4,773
  6,053
  7,533
  9,378
  11,270
  13,371
  15,680
  18,193
  20,906
  23,814
  26,914
  30,199
  33,667
  37,314
  41,136
  45,134
  49,307
  53,655
  58,181
  62,888
  67,782
  72,867
  78,151
Tax expense, $m
  91
  166
  262
  387
  548
  749
  995
  1,289
  1,634
  2,034
  2,532
  3,043
  3,610
  4,234
  4,912
  5,645
  6,430
  7,267
  8,154
  9,090
  10,075
  11,107
  12,186
  13,313
  14,487
  15,709
  16,980
  18,301
  19,674
  21,101
Net income, $m
  247
  449
  707
  1,047
  1,482
  2,025
  2,689
  3,484
  4,419
  5,499
  6,846
  8,227
  9,761
  11,446
  13,281
  15,261
  17,384
  19,647
  22,046
  24,577
  27,239
  30,030
  32,948
  35,994
  39,168
  42,472
  45,908
  49,481
  53,193
  57,050

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,582
  5,385
  7,853
  11,131
  15,368
  20,710
  27,293
  35,236
  44,643
  55,592
  68,141
  82,325
  98,160
  115,643
  134,759
  155,481
  177,776
  201,607
  226,939
  253,736
  281,971
  311,619
  342,666
  375,106
  408,942
  444,185
  480,859
  518,994
  558,634
  599,827
Adjusted assets (=assets-cash), $m
  3,582
  5,385
  7,853
  11,131
  15,368
  20,710
  27,293
  35,236
  44,643
  55,592
  68,141
  82,325
  98,160
  115,643
  134,759
  155,481
  177,776
  201,607
  226,939
  253,736
  281,971
  311,619
  342,666
  375,106
  408,942
  444,185
  480,859
  518,994
  558,634
  599,827
Revenue / Adjusted assets
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
  0.497
Average production assets, $m
  1,493
  2,246
  3,275
  4,641
  6,408
  8,636
  11,381
  14,693
  18,615
  23,181
  28,414
  34,328
  40,931
  48,221
  56,192
  64,833
  74,129
  84,067
  94,630
  105,804
  117,577
  129,940
  142,886
  156,413
  170,522
  185,218
  200,510
  216,412
  232,941
  250,118
Working capital, $m
  190
  286
  418
  592
  817
  1,101
  1,451
  1,874
  2,374
  2,956
  3,624
  4,378
  5,220
  6,150
  7,166
  8,268
  9,454
  10,721
  12,068
  13,493
  14,995
  16,572
  18,223
  19,948
  21,747
  23,621
  25,572
  27,600
  29,708
  31,898
Total debt, $m
  2,370
  3,994
  6,215
  9,165
  12,978
  17,786
  23,710
  30,860
  39,326
  49,180
  60,474
  73,240
  87,491
  103,226
  120,430
  139,080
  159,145
  180,593
  203,392
  227,509
  252,920
  279,604
  307,547
  336,743
  367,194
  398,914
  431,920
  466,242
  501,917
  538,991
Total liabilities, $m
  3,223
  4,847
  7,068
  10,018
  13,831
  18,639
  24,563
  31,713
  40,179
  50,033
  61,327
  74,093
  88,344
  104,079
  121,283
  139,933
  159,998
  181,446
  204,245
  228,363
  253,773
  280,457
  308,400
  337,596
  368,048
  399,767
  432,773
  467,095
  502,770
  539,844
Total equity, $m
  358
  539
  785
  1,113
  1,537
  2,071
  2,729
  3,524
  4,464
  5,559
  6,814
  8,233
  9,816
  11,564
  13,476
  15,548
  17,778
  20,161
  22,694
  25,374
  28,197
  31,162
  34,267
  37,511
  40,894
  44,419
  48,086
  51,899
  55,863
  59,983
Total liabilities and equity, $m
  3,581
  5,386
  7,853
  11,131
  15,368
  20,710
  27,292
  35,237
  44,643
  55,592
  68,141
  82,326
  98,160
  115,643
  134,759
  155,481
  177,776
  201,607
  226,939
  253,737
  281,970
  311,619
  342,667
  375,107
  408,942
  444,186
  480,859
  518,994
  558,633
  599,827
Debt-to-equity ratio
  6.620
  7.420
  7.910
  8.230
  8.440
  8.590
  8.690
  8.760
  8.810
  8.850
  8.870
  8.900
  8.910
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.980
  8.980
  8.980
  8.990
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  247
  449
  707
  1,047
  1,482
  2,025
  2,689
  3,484
  4,419
  5,499
  6,846
  8,227
  9,761
  11,446
  13,281
  15,261
  17,384
  19,647
  22,046
  24,577
  27,239
  30,030
  32,948
  35,994
  39,168
  42,472
  45,908
  49,481
  53,193
  57,050
Depreciation, amort., depletion, $m
  210
  235
  269
  315
  374
  448
  540
  650
  781
  933
  947
  1,144
  1,364
  1,607
  1,873
  2,161
  2,471
  2,802
  3,154
  3,527
  3,919
  4,331
  4,763
  5,214
  5,684
  6,174
  6,684
  7,214
  7,765
  8,337
Funds from operations, $m
  457
  684
  977
  1,362
  1,855
  2,473
  3,229
  4,135
  5,200
  6,432
  7,793
  9,372
  11,126
  13,054
  15,154
  17,422
  19,855
  22,449
  25,200
  28,104
  31,158
  34,361
  37,711
  41,208
  44,852
  48,646
  52,592
  56,694
  60,958
  65,388
Change in working capital, $m
  68
  96
  131
  174
  225
  284
  350
  422
  500
  582
  667
  754
  842
  930
  1,017
  1,102
  1,186
  1,267
  1,347
  1,425
  1,501
  1,577
  1,651
  1,725
  1,799
  1,874
  1,950
  2,028
  2,108
  2,191
Cash from operations, $m
  389
  588
  845
  1,187
  1,630
  2,189
  2,879
  3,712
  4,699
  5,850
  7,125
  8,617
  10,283
  12,124
  14,137
  16,320
  18,670
  21,182
  23,853
  26,679
  29,657
  32,784
  36,060
  39,482
  43,053
  46,772
  50,642
  54,666
  58,850
  63,197
Maintenance CAPEX, $m
  -32
  -50
  -75
  -109
  -155
  -214
  -288
  -379
  -490
  -621
  -773
  -947
  -1,144
  -1,364
  -1,607
  -1,873
  -2,161
  -2,471
  -2,802
  -3,154
  -3,527
  -3,919
  -4,331
  -4,763
  -5,214
  -5,684
  -6,174
  -6,684
  -7,214
  -7,765
New CAPEX, $m
  -533
  -752
  -1,029
  -1,367
  -1,767
  -2,228
  -2,745
  -3,312
  -3,922
  -4,566
  -5,233
  -5,915
  -6,603
  -7,290
  -7,971
  -8,641
  -9,297
  -9,937
  -10,563
  -11,174
  -11,773
  -12,363
  -12,946
  -13,527
  -14,109
  -14,696
  -15,292
  -15,902
  -16,529
  -17,177
Cash from investing activities, $m
  -565
  -802
  -1,104
  -1,476
  -1,922
  -2,442
  -3,033
  -3,691
  -4,412
  -5,187
  -6,006
  -6,862
  -7,747
  -8,654
  -9,578
  -10,514
  -11,458
  -12,408
  -13,365
  -14,328
  -15,300
  -16,282
  -17,277
  -18,290
  -19,323
  -20,380
  -21,466
  -22,586
  -23,743
  -24,942
Free cash flow, $m
  -176
  -214
  -259
  -289
  -291
  -252
  -154
  20
  287
  664
  1,120
  1,756
  2,536
  3,469
  4,559
  5,807
  7,212
  8,774
  10,488
  12,350
  14,357
  16,502
  18,782
  21,193
  23,730
  26,392
  29,176
  32,081
  35,107
  38,255
Issuance/(repayment) of debt, $m
  928
  1,623
  2,221
  2,950
  3,813
  4,808
  5,924
  7,149
  8,466
  9,854
  11,294
  12,766
  14,251
  15,735
  17,204
  18,650
  20,065
  21,448
  22,798
  24,118
  25,411
  26,684
  27,943
  29,196
  30,452
  31,719
  33,006
  34,322
  35,675
  37,074
Issuance/(repurchase) of shares, $m
  102
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,030
  1,623
  2,221
  2,950
  3,813
  4,808
  5,924
  7,149
  8,466
  9,854
  11,294
  12,766
  14,251
  15,735
  17,204
  18,650
  20,065
  21,448
  22,798
  24,118
  25,411
  26,684
  27,943
  29,196
  30,452
  31,719
  33,006
  34,322
  35,675
  37,074
Total cash flow (excl. dividends), $m
  854
  1,410
  1,962
  2,661
  3,522
  4,556
  5,771
  7,170
  8,753
  10,518
  12,414
  14,521
  16,788
  19,204
  21,763
  24,456
  27,277
  30,222
  33,286
  36,468
  39,768
  43,186
  46,725
  50,389
  54,182
  58,111
  62,182
  66,403
  70,782
  75,329
Retained Cash Flow (-), $m
  -348
  -180
  -247
  -328
  -424
  -534
  -658
  -794
  -941
  -1,095
  -1,255
  -1,418
  -1,583
  -1,748
  -1,912
  -2,072
  -2,229
  -2,383
  -2,533
  -2,680
  -2,823
  -2,965
  -3,105
  -3,244
  -3,384
  -3,524
  -3,667
  -3,814
  -3,964
  -4,119
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  505
  1,229
  1,716
  2,334
  3,098
  4,022
  5,112
  6,375
  7,813
  9,423
  11,159
  13,103
  15,204
  17,456
  19,852
  22,384
  25,048
  27,839
  30,753
  33,788
  36,944
  40,221
  43,620
  47,145
  50,798
  54,586
  58,514
  62,589
  66,818
  71,210
Discount rate, %
  13.60
  14.28
  14.99
  15.74
  16.53
  17.36
  18.23
  19.14
  20.09
  21.10
  22.15
  23.26
  24.42
  25.64
  26.93
  28.27
  29.69
  31.17
  32.73
  34.37
  36.08
  37.89
  39.78
  41.77
  43.86
  46.05
  48.36
  50.78
  53.31
  55.98
PV of cash for distribution, $m
  445
  941
  1,128
  1,300
  1,442
  1,539
  1,584
  1,571
  1,504
  1,389
  1,235
  1,065
  888
  714
  555
  417
  302
  211
  142
  92
  57
  34
  20
  11
  6
  3
  1
  1
  0
  0
Current shareholders' claim on cash, %
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8
  48.8

Surgery Partners, Inc. is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company's Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services. The Company's surgical facilities primarily provide non-emergency surgical procedures across a range of specialties, which include gastrointestinal (GI), general surgery, ophthalmology, orthopedics and pain management. The Company's Ancillary Services segment consists of a diagnostic laboratory, a specialty pharmacy and multi-specialty physician practices. The Company's physician practices include its owned and operated physician practices pursuant to long-term management service agreements. The Company's Optical Services segment consists of an optical laboratory, an optical products group purchasing organization.

FINANCIAL RATIOS  of  Surgery Partners (SGRY)

Valuation Ratios
P/E Ratio 73.8
Price to Sales 0.6
Price to Book 66.4
Price to Tangible Book
Price to Cash Flow 5.3
Price to Free Cash Flow 7.7
Growth Rates
Sales Growth Rate 19.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 18.2%
Cap. Spend. - 3 Yr. Gr. Rate 57.7%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 14670%
Total Debt to Equity 14950%
Interest Coverage 2
Management Effectiveness
Return On Assets 3.7%
Ret/ On Assets - 3 Yr. Avg. 1.3%
Return On Total Capital 0.6%
Ret/ On T. Cap. - 3 Yr. Avg. -2.8%
Return On Equity 300%
Return On Equity - 3 Yr. Avg. 111.7%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 28.3%
Gross Margin - 3 Yr. Avg. 31.9%
EBITDA Margin 18.4%
EBITDA Margin - 3 Yr. Avg. 12.6%
Operating Margin 17.1%
Oper. Margin - 3 Yr. Avg. 14.9%
Pre-Tax Margin 8%
Pre-Tax Margin - 3 Yr. Avg. -0.9%
Net Profit Margin 0.8%
Net Profit Margin - 3 Yr. Avg. -5.2%
Effective Tax Rate 7.6%
Eff/ Tax Rate - 3 Yr. Avg. 19.4%
Payout Ratio 0%

SGRY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SGRY stock intrinsic value calculation we used $1145.438 million for the last fiscal year's total revenue generated by Surgery Partners. The default revenue input number comes from 0001 income statement of Surgery Partners. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SGRY stock valuation model: a) initial revenue growth rate of 55.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13.6%, whose default value for SGRY is calculated based on our internal credit rating of Surgery Partners, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Surgery Partners.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SGRY stock the variable cost ratio is equal to 75.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $84 million in the base year in the intrinsic value calculation for SGRY stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.5% for Surgery Partners.

Corporate tax rate of 27% is the nominal tax rate for Surgery Partners. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SGRY stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SGRY are equal to 83.9%.

Life of production assets of 43.7 years is the average useful life of capital assets used in Surgery Partners operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SGRY is equal to 10.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $9.677 million for Surgery Partners - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 48.811 million for Surgery Partners is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Surgery Partners at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ Surgery Partners: 3Q Earnings Snapshot   [10:13AM  Associated Press]
▶ Surgery Partners: 2Q Earnings Snapshot   [10:37AM  Associated Press]
▶ Is It Time To Buy Surgery Partners Inc (NASDAQ:SGRY)?   [May-18-18 02:11PM  Simply Wall St.]
▶ Surgery Partners: 1Q Earnings Snapshot   [May-09-18 07:14AM  Associated Press]
▶ Surgery Partners reports 4Q loss   [Mar-02-18 05:01AM  Associated Press]
▶ Surgery Partners, Inc. to Host Earnings Call   [Mar-01-18 07:05AM  ACCESSWIRE]
▶ Surgery Partners Announces Executive Leadership Transitions   [Jan-29-18 04:30PM  GlobeNewswire]
▶ 3 Health Care Stocks With M&A Potential In 2018   [Dec-22-17 11:26AM  Benzinga]
▶ Surgery Partners, Inc. to Host Earnings Call   [Nov-09-17 06:50AM  ACCESSWIRE]
▶ Surgery Partners reports 3Q loss   [05:02AM  Associated Press]
▶ Surgery Partners, Inc. Announces Third Quarter 2017 Results   [Nov-08-17 05:25PM  GlobeNewswire]
▶ Why Surgery Partners Inc. Is Plunging Today   [Nov-01-17 04:13PM  Motley Fool]
▶ New Strong Sell Stocks for September 28th   [Sep-28-17 09:27AM  Zacks]
▶ New Strong Sell Stocks for September 15th   [Sep-15-17 08:16AM  Zacks]
▶ CEO out at Nashville health care company   [Sep-08-17 10:00AM  American City Business Journals]
▶ New Strong Sell Stocks for August 22nd   [Aug-22-17 09:14AM  Zacks]
▶ Here's Why Surgery Partners Inc. Is Sinking Today   [Aug-09-17 02:06PM  Motley Fool]
▶ Surgery Partners Investigation By Block & Leviton LLP   [Jul-18-17 08:00AM  PR Newswire]
▶ Surgery Partners reports 1Q loss   [May-09-17 07:12PM  Associated Press]

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