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Nutex Health Inc. operates as a healthcare services and operations company in the United States. It operates through three segments: Hospital, Population Health Management (PHM), and Real Estate. The Hospital segment develops and operates a network of micro hospitals, specialty hospitals, and hospital outpatient departments that offer healthcare services, including emergency room care, inpatient care, and behavioural health. It also provides imaging services, such as CT scan, X-ray, MRI, ultrasound, etc.; laboratory services; and onsite inpatient pharmacies. The PHM segment provides management, administrative, and other support services to its affiliated hospitals and physician groups by establishing and operating provider networks, such as independent physician associations (IPAs); and a cloud-based technology platform for IPAs. The Real Estate segment owns and leases land and hospital buildings. Nutex Health Inc. was founded in 2011 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $875M | $288M | $71M | $246M | 16.7% | 82.4% | 35.9% |
| 2024 | $480M | $149M | $52M | $21M | 27.6% | 93.8% | - |
| 2023 | $248M | $-15M | $-46M | $-8M | -57.9% | 12.9% | - |
| 2022 | $219M | $-394M | $-425M | $36M | -353.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 219.29 | 247.65 | 479.95 | 875.26 |
| Cost Of Revenue | 203.87 | 212.87 | 283.69 | 430.98 |
| Gross Profit | 15.42 | 34.77 | 196.26 | 444.28 |
| Operating Expense | 20 | 36.28 | 58.48 | 168.66 |
| Operating Income | -4.58 | -1.51 | 137.78 | 275.62 |
| EBITDA | -394.03 | -14.58 | 148.73 | 287.54 |
| EBIT | -407.16 | -32.17 | 129.76 | 267.01 |
| Pretax Income | -419.65 | -48.49 | 109.83 | 244.78 |
| Tax Provision | 13.09 | -5.07 | 15.02 | 64.42 |
| Net Income | -424.78 | -45.79 | 52.10 | 70.79 |
| Net Income Common Stockholders | -424.78 | -45.79 | 52.10 | 70.79 |
| Total Expenses | 223.87 | 249.16 | 342.17 | 599.63 |
| Interest Expense | 12.49 | 16.32 | 19.93 | 22.23 |
| Selling General And Administration | 20 | 36.07 | 58.48 | 168.66 |
| Normalized EBITDA | 7.99 | 15.68 | 157.42 | 287.54 |
| Normalized Income | -107.18 | -18.68 | 59.60 | 70.79 |
| Basic EPS | -100.50 | -10.50 | 10.25 | 11.13 |
| Diluted EPS | -100.50 | -10.50 | 9.71 | 10.48 |
| Tax Effect Of Unusual Items | -84.42 | -3.16 | -1.19 | 0 |
| Tax Rate For Calcs | 0.21 | 0.10 | 0.14 | 0.26 |
| Total Unusual Items | -402.02 | -30.27 | -8.69 | 0 |
| Total Unusual Items Excluding Goodwill | -402.02 | -30.27 | -8.69 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -424.78 | -45.79 | 52.10 | 70.79 |
| Reconciled Depreciation | 13.13 | 17.59 | 18.97 | 20.53 |
| Reconciled Cost Of Revenue | 203.87 | 212.87 | 283.69 | 430.98 |
| Net Interest Income | -12.49 | -16.32 | -19.93 | -22.23 |
| Net Income From Continuing And Discontinued Operation | -424.78 | -45.79 | 52.10 | 70.79 |
| Total Operating Income As Reported | -406.60 | -31.77 | 130.70 | 275.62 |
| Diluted Average Shares | 4.23 | 4.36 | 5.37 | 6.76 |
| Basic Average Shares | 4.23 | 4.36 | 5.09 | 6.36 |
| Diluted NI Availto Com Stockholders | -424.78 | -45.79 | 52.10 | 70.79 |
| Average Dilution Earnings | 0 | 0 | 1.13 | 0 |
| Minority Interests | 7.96 | -2.36 | -42.71 | -109.57 |
| Net Income Including Noncontrolling Interests | -432.74 | -43.42 | 94.81 | 180.36 |
| Net Income Continuous Operations | -432.74 | -43.42 | 94.81 | 180.36 |
| Other Income Expense | -402.58 | -30.66 | -8.02 | -8.62 |
| Other Non Operating Income Expenses | -0.56 | -0.40 | 0.67 | -8.62 |
| Special Income Charges | -402.02 | -30.27 | -7.08 | 0 |
| Write Off | 0 | 29.08 | 3.89 | 0 |
| Impairment Of Capital Assets | 398.14 | 1.14 | 3.20 | 0 |
| Restructuring And Mergern Acquisition | 3.89 | 0.04 | 0 | 0 |
| Gain On Sale Of Security | 0 | 0 | -1.61 | 0 |
| Net Non Operating Interest Income Expense | -12.49 | -16.32 | -19.93 | -22.23 |
| Interest Expense Non Operating | 12.49 | 16.32 | 19.93 | 22.23 |
| Other Operating Expenses | 0 | 0.22 | 0 | 0 |
| General And Administrative Expense | 20 | 36.07 | 58.48 | 168.66 |
| Other Gand A | 19.81 | 33.23 | 41.92 | 51.65 |
| Salaries And Wages | 0.19 | 2.84 | 16.55 | 117 |
| Operating Revenue | 219.29 | 247.65 | 479.95 | 875.26 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Nutex Health Inc.this co. | NUTX | $781M | 10.68↓ discount | 2.41 | 16.7% | 2.52 |
| MeiraGTx Holdings plc | MGTX | $828M | - | -126.06 | 1971.4% | -8.05 |
| First Tracks Biotherapeutics, Inc. | TRAX | $821M | - | - | -41.8% | - |
| Arbutus Biopharma Corporation | ABUS | $813M | - | 10.38 | -43.7% | -26.98 |
| Cullinan Therapeutics, Inc. | CGEM | $790M |
| - |
| 1.89 |
| -53.8% |
| -1.67 |
| U.S. Physical Therapy, Inc. | USPH | $780M | 74.22 | 2.35 | 3.2% | 12.74 |
| ARS Pharmaceuticals, Inc. | SPRY | $778M | - | 6.81 | -149.9% | -3.94 |
| BioAge Labs, Inc. | BIOA | $749M | - | 2.32 | -29.6% | -5.11 |
| Castle Biosciences, Inc. | CSTL | $734M | - | 1.53 | -5.1% | -224.72 |
| Peer Median | - | 74.22 | 2.32 | -35.7% | -5.11 | |