Here are the 10-K annual reports from Universal Health Services, Inc. (UHS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow UHS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UHS filings page.
Universal Health Services, Inc. outlines its 2025 operations as a large hospital and behavioral health operator with 375 inpatient facilities and 168 outpatient and other facilities across 40 U.S. states, Washington, D.C., the U.K. and Puerto Rico.
Acute care hospitals and related outpatient facilities generated about 57% of consolidated net revenues in 2025 and 2024, while behavioral health facilities contributed about 43%, including U.K. behavioral health revenues of approximately $1.001 billion in 2025. The company highlights heavy exposure to Texas, Nevada and California, significant dependence on Medicare, Medicaid and other governmental payers, and extensive regulatory oversight in both the U.S. and U.K.
UHS also describes its long‑standing advisory and leasing relationship with Universal Health Realty Income Trust, a strong compliance and ethics program, and detailed human capital initiatives for its roughly 101,500 employees. The risk section emphasizes reimbursement pressure, policy changes such as the One Big Beautiful Budget Act, competition for patients and physicians, climate and weather risks, and potential impacts from pending physician group changes in Washington, D.C.