EHC vs UHS: Encompass Health and Universal Health Services compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Encompass Health is the larger company, worth $11.9B, close to Universal Health Services's $10.4B.
- Encompass Health grew revenue faster over the last year (+9.6% vs +8.3%).
- Encompass Health keeps more of each dollar of revenue as operating profit (18.0% vs 11.4%).
- On earnings, Universal Health Services is the cheaper stock (7.2x vs 20.6x).
- Encompass Health's price assumes faster free cash flow growth: about 9% a year, against -1% for Universal Health Services (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | EHC | UHS |
|---|---|---|
| Market cap | $11.9B | $10.4B |
| Share price | $123.33 | $177.35 |
| Revenue (last fiscal year) | $5.9B | $17.4B |
| Free cash flow (last fiscal year) | $439M | $849M |
| Revenue growth, last year | +9.6% | +8.3% |
| Revenue growth per year, last 5 fiscal years | +10.3% | +8.3% |
| Operating margin | 18.0% | 11.4% |
| Net margin | 10.0% | 8.4% |
| Return on equity | 23.9% | 20.3% |
| P/E (trailing) | 20.6x | 7.21x |
| Price / free cash flow | 27.1x | 12.3x |
| EV / EBITDA | 9.86x | 5.52x |
| FCF growth the price implies | 9.0% | -1.4% |
| Dividend yield | 0.61% | 0.45% |
| Debt / equity | 1.54x | 1.11x |
| Fundamental grade | C | C |
| Superinvestors holding it | 4 | 6 |
| Insider purchases, last 12 months | 2 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Encompass Health
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.0B | $177M | 13.9% |
| 2022 | $4.3B | $132M | 12.4% |
| 2023 | $4.8B | $268M | 15.2% |
| 2024 | $5.4B | $360M | 16.1% |
| 2025 | $5.9B | $439M | 17.7% |
Universal Health Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.6B | $28M | 10.8% |
| 2022 | $13.4B | $262M | 7.5% |
| 2023 | $14.3B | $525M | 8.2% |
| 2024 | $15.8B | $1.1B | 10.6% |
| 2025 | $17.4B | $849M | 11.5% |
Where the revenue comes from
Encompass Health · by segments, 2021
Inpatient Rehabilitation$4.0B78%
Home Health and Hospice$1.1B22%
Universal Health Services · by segments, 2025
Acute Care Hospital Services$9.9B57%
Behavioral Health Services$7.4B43%
Other$13M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open EHC in InvestinglyQuestions
Which is bigger, Encompass Health or Universal Health Services?
Encompass Health (EHC), at $11.9B against $10.4B.
Is EHC or UHS cheaper?
By trailing P/E, Universal Health Services (7.21x) is cheaper than Encompass Health (20.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, EHC or UHS?
Encompass Health: revenue grew +9.6% over the last year, against +8.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.