Growth Metrics

Select Medical Holdings (SEM) Operating Expenses (2018 - 2026)

Select Medical Holdings (SEM) reported Operating Expenses of $1.3 billion for Q1 2026, up 6.66% year-over-year from $1.2 billion in Q1 2025, and down 0.72% on a QoQ basis from $1.3 billion in Q4 2025.

Select Medical Holdings (SEM) has 9 years of Operating Expenses data on file, last reported at $1.3 billion in Q1 2026.

  • Quarterly Operating Expenses rose 6.66% year-over-year to $1.3 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $5.2 billion (up 4.9% YoY) and the FY2025 annual result came in at $5.1 billion, up 3.98% from the prior year.
  • Operating Expenses slipped to $1.3 billion in Q1 2026 per SEM's latest filing, from $1.3 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $1.5 billion in Q3 2023 and bottomed at -$5.5 million in Q4 2023.
  • The 5-year median for Operating Expenses is $1.3 billion (2024), against an average of $1.2 billion.
  • The widest annual swing landed in 2023, when Operating Expenses sank 116.46%; it then surged 23417.91% in 2024.
  • Tracing SEM's Operating Expenses over 5 years: stood at $33.7 million in 2022, then slumped by 116.46% to -$5.5 million in 2023, then surged by 23417.91% to $1.3 billion in 2024, then increased by 3.18% to $1.3 billion in 2025, then retreated by 0.72% to $1.3 billion in 2026.
  • Per Business Quant, the three latest SEM Operating Expenses figures stand at $1.3 billion (Q1 2026), $1.3 billion (Q4 2025), and $1.3 billion (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 HCA Healthcare 84.64 Bn 87.02 Bn 16.26 Bn 16.82 Bn
2 Tenet Healthcare 15.22 Bn 14.39 Bn 4.41 Bn 27.00 Mn
3 Davita 13.10 Bn 13.96 Bn 1.07 Bn 2.93 Bn
4 Encompass Health 10.50 Bn 11.12 Bn 1.34 Bn 1.29 Bn
5 Ensign 9.69 Bn 9.09 Bn 293.37 Mn 1.26 Bn
6 Universal Health Services 8.92 Bn 8.88 Bn 3.21 Bn 3.99 Bn
7 Fresenius Medical Care AG 7.31 Bn 4.93 Bn 22,843.10 Bn 820.65 Mn
8 Chemed 5.83 Bn 5.81 Bn 215.76 Mn 572.94 Mn
9 Pacs 5.76 Bn 5.51 Bn 345.96 Mn 1.30 Bn
10 Select Medical Holdings 1.99 Bn 1.99 Bn 175.47 Mn 1.32 Bn

Historic Data

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DateValue
Mar 31, 2026 1.32 Bn
Dec 31, 2025 1.33 Bn
Sep 30, 2025 1.29 Bn
Jun 30, 2025 1.25 Bn
Mar 31, 2025 1.24 Bn
Dec 31, 2024 1.29 Bn
Sep 30, 2024 1.22 Bn
Jun 30, 2024 1.21 Bn
Mar 31, 2024 1.20 Bn
Dec 31, 2023 -5.54 Mn
Sep 30, 2023 1.54 Bn
Jun 30, 2023 1.52 Bn
Mar 31, 2023 1.51 Bn
Dec 31, 2022 33.65 Mn
Sep 30, 2022 1.48 Bn
Jun 30, 2022 1.48 Bn
Mar 31, 2022 1.50 Bn
Dec 31, 2021 1.49 Bn
Sep 30, 2021 1.39 Bn
Jun 30, 2021 1.38 Bn
Mar 31, 2021 1.38 Bn
Dec 31, 2020 1.33 Bn
Sep 30, 2020 1.27 Bn
Jun 30, 2020 1.17 Bn
Mar 31, 2020 1.29 Bn
Dec 31, 2019 1.26 Bn
Sep 30, 2019 1.27 Bn
Jun 30, 2019 1.24 Bn
Mar 31, 2019 1.21 Bn
Dec 31, 2018 1.18 Bn
Sep 30, 2018 1.17 Bn