NYSE$SEM

Select Medical Holdings Corporation · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Select Medical reported Q4 2025, revenue of $1.40B, net income of $37.7M, diluted EPS of $0.16.

For Q4 2025, Select Medical reported revenue of $1.40B, net income of $37.7M, diluted EPS was $0.16. Management discusses segment performance, capital allocation, and outlook in the earnings release.

  • Revenue $1.40B.
  • Net income $37.7M.
  • Diluted EPS $0.16.

Headline financials

Total Revenue

$1.4B

Previous: $1.31B+6.4%
EPS (adj)

$0.16

Previous: $0.18-11.1%
Adjusted EBITDA

$105M

Previous: $116M-9.8%
CIRH Adj EBITDA Margin

10.5%

Previous: 10.5%+0.0%
Rehab Hospital Adj EBITDA Margin

20.4%

Previous: 21.2%-3.8%
Outpatient Rehab Adj EBITDA Margin

3.4%

Previous: 8.3%-59.0%
Revenue per Patient Day CIRH

$2.31K

Previous: $2.18K+5.9%
Occupancy Rate CIRH

67.0%

Previous: 67.0%+0.0%
Revenue per Patient Day Rehab

$2.31K

Previous: $2.18K+6.2%
Occupancy Rate Rehab

82.0%

Previous: 81.0%+1.2%
Revenue per Visit Outpatient

$98.00

Previous: $102.00-3.9%
Patient Visits Outpatient

2.9M

Previous: 2.8M+4.9%
Net Income

$37.7M

Previous: -$16.1M+334.9%
Operating Income

$63.9M

Previous: $21.1M+203.1%
Gross Profit

$146M

No prior period

Revenue & EPS history

Select Medical · Revenue · Quarterly

$1.4B

Q4 2025+6.4%vs Q4 2024
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

Select Medical · $1.1B total across 3 segments · Q3 2023

  • Critical Illness Recovery
    $564M+7.4%
  • Outpatient Rehabilitation
    $292M+2.4%
  • Rehabilitation Hospital
    $247M+7.7%

Forward guidance

The release discusses Select Medical's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Select Medical cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.3%

Avg return

Earnings day

+0.1%

Avg return

5 days after

+0.5%

Avg return

30 days after

49%

32 / 65 earnings

Positive

+18.8%

Q3 2018

Best reaction

-22.2%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.2%+0.1%+0.7%
Q4 2025-6.5%-7.3%+1.1%
Q3 2025-5.8%-5.1%+9.1%
Q1 2025-22.2%-17.7%-16.2%
Q4 2024-7.2%-2.9%-13.1%
Q3 2024+9.4%+13.3%+19.3%
Q2 2024-14.0%-17.2%-9.3%
Q1 2024+12.3%+17.0%+23.5%
Q4 2023+6.7%+4.6%+7.7%
Q3 2023-1.2%-2.7%+3.9%
Q2 2023-1.3%-2.5%-4.3%
Q1 2023+4.8%-0.8%-2.8%
Q4 2022-7.8%-9.1%-17.6%
Q3 2022-6.5%-10.9%+0.9%
Q2 2022-4.1%-11.1%-14.7%
Q1 2022+0.9%-4.2%+10.6%
Q4 2021+1.1%+2.2%+3.5%
Q3 2021+2.4%-0.9%-18.4%
Q2 2021-3.3%-6.9%-7.7%
Q1 2021-2.5%-3.1%+4.9%
Q4 2020+10.5%+16.9%+20.5%
Q3 2020-1.7%+8.5%+15.4%
Q2 2020+13.1%+14.7%+21.2%
Q1 2020-15.3%-12.9%-6.3%
Q4 2019+8.9%-0.1%-55.6%
Q3 2019+5.7%+10.6%+22.9%
Q2 2019-5.8%-5.8%-3.1%
Q1 2019+1.7%+3.0%-1.3%
Q4 2018+0.1%-4.8%-10.1%
Q3 2018+18.8%+21.2%+16.9%
Q2 2018-5.0%-7.5%-6.6%
Q1 2018-4.4%-3.5%-2.9%
Q4 2017+11.2%+11.4%+7.8%
Q3 2017-7.8%-9.4%-6.5%
Q2 2017+8.6%+12.7%+18.7%
Q1 2017+5.9%+1.1%+3.7%
Q4 2016+9.6%+11.6%-3.1%
Q3 2016-8.2%-6.1%-1.2%
Q2 2016+10.6%+6.3%+9.3%
Q1 2016-4.5%
Q4 2015+10.9%
Q3 2015+5.0%
Q2 2015+0.1%
Q1 2015+0.0%
Q4 2014-5.2%
Q3 2014+11.3%
Q2 2014-12.4%
Q1 2014+0.5%
Q4 2013+1.7%
Q3 2013+1.1%
Q2 2013+1.3%
Q1 2013-2.5%
Q4 2012+4.0%
Q3 2012+10.0%
Q2 2012+9.1%
Q1 2011-3.2%
Q1 2012+1.1%
Q4 2009-0.4%
Q4 2011-0.4%
Q3 2010-2.4%
Q3 2011-2.4%
Q4 2010-15.8%
Q2 2010-15.8%
Q2 2011-15.8%
Q1 2010-7.2%

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