SGRY vs CON vs FMS Stock Comparison

Surgery Partners, Concentra Group Holdings Parent and Fresenius Medical Care AG Prices as of Oct 26, 2026 Peers: Industry group
FMS Fresenius Medical Care AG
$22.76 +0.4% 1M -16.4% 1Y
Market cap
$13.10B
P/E
12.0x
Revenue (TTM)
$11.07B
Div. yield
–
Healthcare Services Healthcare
5 wins

Head to Head

11 decided of 12

Concentra Group Holdings Parent leads on 6 of the 12 questions below (Concentra Group Holdings Parent 6, Fresenius Medical Care AG 5). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionSGRYCONFMSLeader
Larger companyMarket capitalisation $3.01B $5.00B $13.10B FMS
Cheaper on earningsLower P/E, profitable companies only -33.9x 25.2x 12.0x FMS
Cheaper on forward earningsLower price / next fiscal year consensus EPS 58.1x 23.4x 9.6x FMS
Faster revenue growthRevenue growth, trailing twelve months +4.0% +14.0% -47.8% CON
More profitableNet margin, trailing twelve months -2.6% 8.7% 9.9% FMS
Better return on capitalReturn on invested capital 5.3% 14.2% 0.2% CON
Less leveragedLower net debt / EBITDA 6.3x 3.1x 200.7x CON
Higher dividend yieldTrailing dividend yield 0.00% 0.01% 0.00% –
Better 1-year returnPrice return, last 12 months +2.0% +92.3% -16.4% CON
Better 5-year returnAnnualised price return, 5 years -10.3%/yr — -8.0%/yr FMS
Less volatileAnnualised volatility, 1 year 66.9% 27.9% 31.1% CON
Higher overall scoreMean of the five percentile scores vs peers 55/100 57/100 50/100 CON

Percentile Scorecard

SGRYCONFMS

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisSGRYCONFMS
Valuation 84 #16 of 93 59 #39 of 93 72 #27 of 93
Growth 43 #51 of 88 64 #32 of 88 12 #78 of 88
Profitability 64 #32 of 87 86 #13 of 87 62 #34 of 87
Financial Health 31 #69 of 100 27 #73 of 100 13 #87 of 100
Shareholder Returns – 51 #28 of 56 91 #6 of 56
Overall 55 57 50
  • SGRY ranked among 103 companies in Healthcare Providers
  • CON ranked among 103 companies in Healthcare Providers
  • FMS ranked among 103 companies in Healthcare Providers

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodSGRYCONFMSSPY
1 month +61.5%+14.9%+0.4% -0.8%
3 months +53.3%+26.0%-8.5% +3.5%
6 months +59.9%+77.4%+0.6% +7.0%
Year to date +50.5%+104.4%-4.5% +12.2%
1 year +2.0%+92.3%-16.4% +13.0%
3 years +3.7%—+38.8% +86.3%
3 years, per year +1.2%—+11.6% +23.1%
5 years -42.0%—-33.9% +68.6%
5 years, per year -10.3%—-8.0% +11.0%
10 years +26.6%—-43.7% +258.0%
10 years, per year +2.4%—-5.6% +13.6%

Risk

MeasureSGRYCONFMSSPY
Volatility, 1Y 66.9%27.9%31.1% 12.7%
Downside volatility, 1Y 65.5%23.2%37.0% 12.7%
Beta vs S&P 500, 1Y 0.820.420.20 1.00
Return / volatility, 1Y 0.033.31-0.53 1.02
Max drawdown, 5Y -81.4%-23.5%-63.9% -25.4%
From 52-week high 0.0%0.0%-16.3% -1.8%
52-week high $23.25$40.22$27.20 $779.14
52-week low $11.49$18.71$20.19 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleSGRYCONFMS
P/E now vs peer median -33.8xmedian 25.1x 25.3xmedian 25.1x 12.1xmedian 25.1x
P/S now vs peer median 0.9xmedian 1.6x 2.2xmedian 1.6x 1.1xmedian 1.6x
EV/EBITDA now vs peer median 11.7xmedian 14.5x 14.3xmedian 14.5x 205.4xmedian 14.5x
P/FCF now vs peer median 16.2xmedian 22.4x 19.2xmedian 22.4x 6.1xmedian 22.4x
P/B now vs peer median 1.0xmedian 3.1x 10.6xmedian 3.1x 0.8xmedian 3.1x
PEG now vs peer median 1.96median 0.66 —median 0.66 0.58median 0.66

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsSGRYCONFMS
Revenue $3.37B $2.29B $11.07B
Gross profit – $670.56M -$5.62B
Operating income $383.80M $374.81M $879.32M
Net income $48.10M $203.80M $1.38B
Free cash flow $187.60M $267.42M $2.08B
R&D – – $180.01M
EPS (diluted) $-0.69 $1.56 $1.79
Cash & equivalents $216.70M $158.04M $1.21B
Total debt $3.75B $1.57B $572.99B
Shares (diluted) 128.83M 127.79M 612.52M
Enterprise value $2.16B $4.65B $5.05B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricSGRYCONFMS
P/E -33.8x 25.3x 12.1x
P/FCF 16.2x 19.2x 6.1x
P/Operating cash flow 11.8x 15.3x 3.9x
P/S 0.9x 2.2x 1.1x
P/B 1.0x 10.6x 0.8x
P/Tangible book 1.0x 20.3x 0.9x
EV/EBITDA 11.7x 14.3x 205.4x
EV/EBIT 17.1x 17.5x 628.4x
EV/Revenue 2.0x 2.9x 49.9x
EV/FCF 35.1x 24.5x 265.7x
EV/Operating cash flow 25.5x 19.5x 167.5x
PEG (3Y EPS CAGR) 1.96 – 0.58

Growth

14 metrics
MetricSGRYCONFMS
Revenue growth (1Y) 4.0% 14.0% -47.8%
Revenue CAGR (3Y) 8.1% – -18.6%
Gross profit growth (1Y) – 18.9% -207.2%
Gross profit CAGR (3Y) – – -45.2%
Operating income growth (1Y) 6.1% 18.9% -45.5%
Operating income CAGR (3Y) 7.1% – -16.4%
Net income growth (1Y) 136.2% 32.6% 49.8%
Net income CAGR (3Y) 15.6% – 18.2%
EPS growth (1Y) 51.6% 33.5% 52.0%
EPS CAGR (3Y) -17.2% – 20.9%
Operating cash flow growth (1Y) -2.2% 29.2% 9.3%
Operating cash flow CAGR (3Y) 16.4% – 9.3%
Free cash flow growth (1Y) 7.0% 43.1% -7.7%
Free cash flow CAGR (3Y) 36.7% – 4.8%

Profitability

14 metrics
MetricSGRYCONFMS
Gross margin – 29.3% -50.7%
EBITDA margin 16.7% 20.0% 24.3%
Operating margin 11.4% 16.4% 7.9%
Pretax margin 11.4% 11.7% 15.8%
Net margin -2.6% 8.7% 9.9%
FCF margin 5.6% 11.7% 18.8%
Operating cash flow margin 7.7% 14.7% 29.8%
Return on equity 2.6% 44.8% 2.7%
Return on assets 1.0% 7.0% 1.2%
Return on invested capital 5.3% 14.2% 0.2%
Return on capital employed 5.1% 14.5% 3.2%
Asset turnover 0.4x 0.8x 0.3x
Cash conversion (OCF / net income) 5.4x 1.6x 2.4x
Stock comp / revenue 0.3% 0.6% –

Financial Health

11 metrics
MetricSGRYCONFMS
Debt / assets 46.6% 52.3% 1,515%
Debt / equity 1.2x 3.2x 35.0x
Net debt / EBITDA 6.3x 3.1x 200.7x
Debt / FCF 20.0x 5.9x 260.4x
Liabilities / assets 61.5% 83.9% 56.8%
Equity / assets 38.5% 16.1% 43.2%
Interest coverage – – 2.0x
Current ratio 1.9x 1.4x 1.1x
Quick ratio 1.4x 1.2x 0.2x
Cash ratio 0.4x 0.4x 0.2x
Altman Z-score 0.88 2.56 1.33

Shareholder Returns

7 metrics
MetricSGRYCONFMS
Dividend yield – 0.6% 3.8%
Net buyback yield – 0.5% 8.5%
Shareholder yield – 1.1% 12.3%
Payout ratio (earnings) – 15.7% –
Payout ratio (FCF) – 12.0% –
Dividend growth (1Y) – 33.4% –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusSGRYCONFMS
Forward P/E 58.1xFY2026 23.4xFY2026 9.6xFY2026
EPS, next fiscal year $0.40FY2026 $1.72FY2026 $2.37FY2026
EPS growth, next FY -14.9%FY2026 +25.5%FY2026 -6.0%FY2026
EPS growth, the year after -5.0% +10.5% +7.6%
Revenue, next fiscal year $3.38BFY2026 $2.30BFY2026 $21.50BFY2026
Revenue growth, next FY +2.2%FY2026 +6.3%FY2026 -7.0%FY2026
Revenue growth, the year after -2.9% +3.1% -0.3%
SGRY estimates →CON estimates →FMS estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersSGRYCONFMS
Held by institutions 100.0% 87.3% 7.3%
Institutions holding 189 291 235
Change in shares held, QoQ -0.8% +4.0% -2.9%
Institutions buying 111 166 151
Institutions selling 50 81 41
Buyers to sellers 2.22 2.05 3.68
SGRY holders →CON holders →FMS holders →

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

SGRYCONFMS
SGRY 1.00 0.24 0.09
CON 0.24 1.00 0.27
FMS 0.09 0.27 1.00

Add a Peer

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Frequently Asked Questions

Which is bigger, SGRY, CON and FMS?

Fresenius Medical Care AG (FMS) is the largest by market capitalisation: Surgery Partners (SGRY) $3.01B, Concentra Group Holdings Parent (CON) $5.00B, Fresenius Medical Care AG (FMS) $13.10B.

Which stock is cheaper, SGRY, CON and FMS?

Fresenius Medical Care AG (FMS) trades on the lowest price-to-earnings ratio (Surgery Partners (SGRY) -33.9x, Concentra Group Holdings Parent (CON) 25.2x, Fresenius Medical Care AG (FMS) 12.0x). On next year's consensus earnings, Fresenius Medical Care AG (FMS) is cheapest (Surgery Partners (SGRY) 58.1x, Concentra Group Holdings Parent (CON) 23.4x, Fresenius Medical Care AG (FMS) 9.6x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Concentra Group Holdings Parent (CON) grew revenue fastest over the trailing twelve months: Surgery Partners (SGRY) +4.0%, Concentra Group Holdings Parent (CON) +14.0%, Fresenius Medical Care AG (FMS) -47.8%.

Which company is more profitable?

Fresenius Medical Care AG (FMS) has the highest net margin (Surgery Partners (SGRY) -2.6%, Concentra Group Holdings Parent (CON) 8.7%, Fresenius Medical Care AG (FMS) 9.9%). On return on invested capital, Concentra Group Holdings Parent (CON) leads (Surgery Partners (SGRY) 5.3%, Concentra Group Holdings Parent (CON) 14.2%, Fresenius Medical Care AG (FMS) 0.2%).

Which stock has performed better?

Over the past year Concentra Group Holdings Parent (CON) returned the most: Surgery Partners (SGRY) +2.0%, Concentra Group Holdings Parent (CON) +92.3%, Fresenius Medical Care AG (FMS) -16.4%. Over five years, Fresenius Medical Care AG (FMS) compounded fastest (Surgery Partners (SGRY) -10.3%/yr, Fresenius Medical Care AG (FMS) -8.0%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Surgery Partners (SGRY) 0.00%, Concentra Group Holdings Parent (CON) 0.01%, Fresenius Medical Care AG (FMS) 0.00%. Surgery Partners (SGRY) and Fresenius Medical Care AG (FMS) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Concentra Group Holdings Parent (CON) has been the steadiest (Surgery Partners (SGRY) 66.9%, Concentra Group Holdings Parent (CON) 27.9%, Fresenius Medical Care AG (FMS) 31.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, SGRY, CON and FMS?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Concentra Group Holdings Parent (CON) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.