Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics in the United States. The Critical Illness Recovery Hospital segment consists of hospitals that provide services for heart failure, infectious disease, respiratory failure and pulmonary disease, surgery requiring prolonged recovery, renal disease, neurological events, and trauma. The Rehabilitation Hospital segment offers therapy and rehabilitation treatments, including rehabilitative services for brain and spinal cord injuries, strokes, amputations, neurological disorders, orthopedic conditions, pediatric congenital or acquired disabilities, and cancer. The Outpatient Rehabilitation segment operates rehabilitation clinics that provide physical, occupational, and speech rehabilitation programs and services; and specialized programs, such as functional programs for work related injuries, hand therapy, pelvic health rehabilitation, post-concussion rehabilitation, pediatric and cancer rehabilitation, and athletic training services. Select Medical Holdings Corporation was founded in 1996 and is headquartered in Mechanicsburg, Pennsylvania.
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 | $5.5B | $531M | $146M | $117M | 8.6% | 5.1% | -31.7% |
| 2024 | $5.2B | $507M | $214M | $296M | 12.7% | 7.5% | -12.1% |
| 2023 | $4.8B | $503M | $243M | $353M | 18.9% | 4.7% | 53.1% |
| 2022 | $4.6B | $379M | $159M | $94M | 14.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,609.18 | 4,825.98 | 5,187.10 | 5,452.83 |
| Cost Of Revenue | - | 4,207.69 | 4,254.37 | 4,553.46 | 4,823.54 |
| Gross Profit | - | 401.49 | 571.61 | 633.64 | 629.29 |
| Operating Expense | - | 256.74 | 304.37 | 365.33 | 293.12 |
| Operating Income | - | 144.75 | 267.24 | 268.32 | 336.17 |
| EBITDA | - | 378.56 | 502.63 | 507.27 | 530.99 |
| EBIT | - | 172.74 | 293.89 | 303.37 | 390.69 |
| Pretax Income | - | 35.27 | 139.72 | 174.77 | 272.75 |
| Tax Provision | - | 16.72 | 29.25 | 44.78 | 58.22 |
| Net Income | - | 158.99 | 243.49 | 214.04 | 146.22 |
| Net Income Common Stockholders | - | 159.52 | 241.36 | 211.72 | 142.86 |
| Total Expenses | - | 4,464.42 | 4,558.73 | 4,918.79 | 5,116.66 |
| Interest Expense | - | 137.47 | 154.16 | 128.60 | 117.94 |
| Interest Income | 5.35 | 0 | 0 | - | - |
| Selling General And Administration | - | 153.04 | 170.19 | 225.87 | 154.41 |
| Normalized EBITDA | - | 378.56 | 517.32 | 536.11 | 530.99 |
| Normalized Income | - | -20.49 | 65.85 | 68.78 | 146.22 |
| Market Cap | 2,040.10 | 2,040.10 | 2,040.10 | 2,040.10 | 2,040.10 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Select Medical Holdings Corporationthis co. | SEM | - | 13.95β discount | 1.20 | 8.6% | 9.19 |
| Integer Holdings Corporation | ITGR | $3.0B | 28.79 | 1.69 | 5.9% | 14.55 |
| Organon & Co. | OGN | $2.9B | 15.67 | 3.90 | 24.9% | 8.53 |
| Prestige Consumer Healthcare Inc. | PBH | $2.9B | 13.00 | 1.52 | 11.7% | 10.32 |
| Privia Health Group, Inc. |
| 2021 | - | - | - | - | - | - | - |
| PRVA |
| $2.9B |
| 130.67 |
| 4.06 |
| 3.1% |
| 57.20 |
| Veracyte, Inc. | VCYT | $2.7B | 41.28 | 2.09 | 5.1% | 26.96 |
| National HealthCare Corporation | NHC | $2.7B | 22.47 | 2.52 | 11.2% | 12.59 |
| LeMaitre Vascular, Inc. | LMAT | $2.6B | 44.90 | 6.59 | 14.7% | 30.28 |
| Phibro Animal Health Corporation | PAHC | $2.2B | 46.33 | 7.83 | 16.9% | 19.95 |
| Peer Median | - | 35.04 | 3.21 | 11.5% | 17.25 | |