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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 | 21.5% | 82.4% | 35.9% |
| 2024 | $480M | $149M | $52M | $21M | 39.3% | 93.8% | -213.8% |
| 2023 | $248M | $-15M | $-46M | $-8M | -74.5% | 12.9% | -89.2% |
| 2022 | $219M | $-394M | $-425M | $36M | -443.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 219.29 | 247.65 | 479.95 | 875.26 |
| Operating 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 |
| Selling General And Administration | - | 20 | 36.07 | 58.48 | 168.66 |
| Total Expenses | - | 223.87 | 249.16 | 342.17 | 599.63 |
| Operating Income | - | -4.58 | -1.51 | 137.78 | 275.62 |
| Total Operating Income As Reported | - | -406.60 | -31.77 | 130.70 | 275.62 |
| EBITDA | - | -394.03 | -14.58 | 148.73 | 287.54 |
| Normalized EBITDA | - | 7.99 | 15.68 | 157.42 | 287.54 |
| EBIT | - | -407.16 | -32.17 | 129.76 | 267.01 |
| Interest Expense | - | 12.49 | 16.32 | 19.93 | 22.23 |
| Net Interest Income | - | -12.49 | -16.32 | -19.93 | -22.23 |
| Other Non Operating Income Expenses | - | -0.56 | -0.40 | 0.67 | -8.62 |
| Other Income Expense | - | -402.58 | -30.66 | -8.02 | -8.62 |
| Interest Expense Non Operating | - | 12.49 | 16.32 | 19.93 | 22.23 |
| Net Non Operating Interest Income Expense | - | -12.49 | -16.32 | -19.93 | -22.23 |
| Pretax Income | - | -419.65 | -48.49 | 109.83 | 244.78 |
| Tax Provision | - | 13.09 | -5.07 | 15.02 | 64.42 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -84.42 | -3.16 | -1.19 | 0 |
| Net Income Continuous Operations | - | -432.74 | -43.42 | 94.81 | 180.36 |
| Net Income From Continuing And Discontinued Operation | - | -424.78 | -45.79 | 52.10 | 70.79 |
| Net Income From Continuing Operation Net Minority Interest | - | -424.78 | -45.79 | 52.10 | 70.79 |
| Net Income | - | -424.78 | -45.79 | 52.10 | 70.79 |
| Net Income Common Stockholders | - | -424.78 | -45.79 | 52.10 | 70.79 |
| Net Income Including Noncontrolling Interests | - | -432.74 | -43.42 | 94.81 | 180.36 |
| Normalized Income | - | -107.18 | -18.68 | 59.60 | 70.79 |
| Diluted NI Availto Com Stockholders | - | -424.78 | -45.79 | 52.10 | 70.79 |
| Basic Average Shares | - | 4.23 | 4.36 | 5.09 | 6.36 |
| Diluted Average Shares | - | 4.23 | 4.36 | 5.37 | 6.76 |
| Reconciled Depreciation | - | 13.13 | 17.59 | 18.97 | 20.53 |
| Reconciled Cost Of Revenue | - | 203.87 | 212.87 | 283.69 | 430.98 |
| Total Unusual Items | - | -402.02 | -30.26 | -8.69 | 0 |
| Total Unusual Items Excluding Goodwill | - | -402.02 | -30.26 | -8.69 | 0 |
| Minority Interests | - | 7.96 | -2.36 | -42.71 | -109.57 |
| Special Income Charges | - | -402.02 | -30.26 | -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 | - | - | - | -1.61 | - |
| 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 | 16.56 | 117 |
| Other Operating Expenses | - | - | 0.22 | - | - |
| Average Dilution Earnings | - | 0 | 0 | 1.13 | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Nutex Health Inc.this co. | NUTX | $930M | 13.13 | 2.82 | 21.5% | 3.81 |
| U.S. Physical Therapy, Inc. | USPH | $940M | 62.41 | 1.97 | 3.2% | 11.12 |
| Anteris Technologies Global Corp. | AVR | $939M | - | 48.67 | -238.4% | - |
| Olema Pharmaceuticals, Inc. | OLMA | $933M | -5.74 | 1.95 | -33.9% | -4.99 |
| ARS Pharmaceuticals, Inc. | SPRY | $901M |
| - |
| - |
| - |
| - |
| - |
| -5.26 |
| 7.88 |
| -149.9% |
| -5.66 |
| Annexon, Inc. | ANNX | $893M | -4.32 | 4.22 | -97.7% | -3.54 |
| Pacira BioSciences, Inc. | PCRX | $892M | 126.89 | 1.29 | 1.0% | 8.75 |
| Xencor, Inc. | XNCR | $890M | - | 1.40 | -14.5% | - |
| Cullinan Therapeutics, Inc. | CGEM | $887M | -4.03 | 2.17 | -53.8% | -3.32 |
| Peer Median | - | -4.18 | 2.07 | -43.9% | -3.43 | |