Surgery Partners, Inc. SGRY

Competitive advantage analysis · healthcare

Corporate Default
Overall moat score
61/100
Moderate

Ranked against 57 peers in Medical Care Facilities

About Surgery Partners, Inc.

Surgery Partners, Inc., together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery. It offers emergency departments; and ancillary services, such as multi-specialty physician … Full SGRY analysis →

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.90), demonstrating pricing resilience across cycles.
  • Cost Leadership Position Operating margin at 80.4th percentile with strong OpEx control demonstrates cost leadership.

Key risks

  • Elevated Debt Risk Debt serviceability is weak (score 0.32), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
73
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where SGRY ranks in Medical Care Facilities

Surgery Partners, Inc. ranks #20 of 58 scored companies in Medical Care Facilities by moat score — the top 34%. The widest moat in the group is Encompass Health Corporation (EHC) at 77/100.

# Company Moat score Rating
16 Fresenius Medical Care AG FMS 64/100 Moderate
17 Option Care Health, Inc. OPCH 62/100 Moderate
18 Ardent Health Partners, Inc. ARDT 62/100 Moderate
19 Auna SA AUNA 62/100 Moderate
20 Surgery Partners, Inc. SGRY 61/100 Moderate
21 U.S. Physical Therapy, Inc. USPH 61/100 Moderate
22 Guardian Pharmacy Services, Inc GRDN 58/100 Moderate
23 Aveanna Healthcare Holdings Inc AVAH 55/100 Moderate
24 The Pennant Group, Inc. PNTG 55/100 Moderate

See every General Corporate company ranked by moat score →

How SGRY scores on the Corporate Default defenses

Pricing Power

Score 72 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 88 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 62 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 38 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 53 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 53 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding SGRY's moat

What is Surgery Partners, Inc.'s moat score?

Surgery Partners, Inc. (SGRY) scores 61 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #20 of 58 scored companies in Medical Care Facilities, the top 34%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 57 companies in Medical Care Facilities. Its strongest defense is Cost Advantage (88/100) and its weakest is Capital Efficiency (38/100).

How does Surgery Partners, Inc. compare with other Medical Care Facilities companies?

Surgery Partners, Inc. ranks #20 of 58 scored companies in Medical Care Facilities by moat score. The widest moat in Medical Care Facilities is Encompass Health Corporation (EHC) at 77/100. The companies ranked closest are Auna SA (AUNA) at 62 just above it and U.S. Physical Therapy, Inc. (USPH) at 61 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 57 companies in Medical Care Facilities. The defenses are then weighted to produce the overall score out of 100.

Why is Surgery Partners, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Surgery Partners, Inc.?

The Corporate Default template measures 6 defenses, and SGRY scores: Pricing Power (72), Cost Advantage (88), Customer Stickiness (62), Capital Efficiency (38), Resilience (53), Scale & Market Position (53). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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