GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM
Select Medical Holdings Corp (NYSE:SEM)
[1]
Fairly Valued[5]$ 22.86
Healthcare Providers & Services - Medical Care Facilities
Market Cap: $ 3,067 Mil
Select Medical Holdings Corp provides long term acute care hospital services and inpatient acute rehabilitative hospital care which requires extended recovery time with medical services.
Valuation Rank
Score: 8 /10CurrentIndustry MedianHistorical Median
PE Ratio7.1726.5413.2
Forward P/E8.5123.92N/A
PB Ratio2.682.602.39
PS Ratio0.492.280.49
P/FCF5.9923.049.75
Shiller P/E16.0933.9120.03
PEG Ratio0.561.971.27
Valuation Analysis
% of Price
NCAV-37.08-162
Tangible Book-19.63-86
Median PS Value22.7499
Price22.86
Peter Lynch Value49.29216
DCF (Earnings Based)62.6274
DCF (FCF Based)82.01359
Dividend & Ownership
Dividend Yield(ttm) %1.64
Dividend Yield(forward) %1.64
Payout0.08
Dividend Growth(5y) %N/A
Yield on Cost(5y) %1.66
Continuous Div. sinceN/A
Insider Ownership %12.55
Institution Ownership %74.79
Financial Strength
Score: 4 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.170.940.03
Equity-to-Asset0.150.520.17
Interest Coverage5.8112.433.31
Piotroski F-Score856
Profitability Rank
Score: 9 /10CurrentIndustry MedianHistorical Median
Operating Margin %13.104.979.60
Net Margin %7.042.583.85
ROE %36.916.3016.14
ROA %5.501.783.56
ROC (Joel Greenblatt) %42.8511.8336.30
Growth (Per Share)
10 Yr5 Yr1 Yr
Revenue Growth (%)11.18.111.8
EBITDA Growth (%)11.512.940.8
Oprt. Income Growth (%)6.512.254.3
EPS w/o NRI Growth (%)9.111.4100.5
Free Cash Flow Growth (%)10.493.2-42.6
Book Value Growth (%)2.81.910.8
Quarterly
Sep20Dec20Mar21Jun21Sep21
Revenue14241460154615641534
Net Income777711116577
EPS0.570.580.821.220.57
Revenue (YoY) %2.196.259.3226.887.75
Net Income (YoY) %150.38140.98108.09219.25-0.02
EPS (YoY) %147.83151.08105212.820
Warning Signs
SEVEREAltman Z-Score: Distress
SEVEREAsset Growth: faster than revenue growth
Good Signs
GOODPiotroski F-Score: High
GOODBeneish M-Score: Unlikely manipulator
GOODRevenue per Share: Consistent growth
Insider Trades
InsiderPositionDateTradesCur. Shares
Chernow David SPresident and C08/09/21-139550839550
Tavenner Marilyn BDirector08/09/21-1000024000
Tarvin Michael EExecutive Vice 08/02/21-57597255820
Jackson Martin FExecutive Vice 06/16/21-1000001041k
Ely James S. IiiDirector03/15/21-20000104748
Ortenzio Robert AExec. Chairman 03/10/21-2496313273k
Romberger Scott ASenior Vice Pre03/10/21-7880138500
Ortenzio Robert AExec. Chairman 03/09/21-24854113298k
Tavenner Marilyn BDirector03/09/21-200028000
Ortenzio Robert AExec. Chairman 03/03/21-2649613547k
As of 01-23-2022
* All financial numbers are in millions except for per share data, ratios and percentage change.
Gain % SP500 %
1W-20.95-5.75
1M-19.90-5.42
3M-32.93-3.10
6M-42.481.47
YTD-22.24-7.79
1Y-18.9015.50
3Y15.6519.94
5Y9.4416.09
10Y12.1114.91
43.08
17.99
7.11
2M
1M
2012201320142015201620172018201920202021CurrentPerformance
9.5413.7311.6916.0516.9614.0519.4521.623.3428.2143.6Highest Stock Price
5.637.117.7310.2110.217.512.1514.9313.1311.2122.77Lowest Stock Price
12321326162818901563175723672076313537303067Market Cap
150.7139137129.5127.8128127.8130.3130.3129.8130.6Shares Outstanding-Diluted
11.948.9814.1615.8212.0315.2313.2715.0521.2214.337.17PE Ratio
1.51.852.072.561.822.152.882.594.073.522.68PB Ratio
0.460.440.530.610.410.40.520.390.560.650.49PS Ratio
7.56.978.919.789.419.049.838.3911.019.626.54EV-to-EBITDA
2011201220132014201520162017201820192020TTMPer Share Data
18.6121.2121.7123.6729.332.9634.1739.0141.8642.6246.47Revenue per Share
0.711.050.820.910.990.871.331.021.11.933.19Earnings per Share
1.141.660.870.580.21.450.042.512.216.793.82Free Cash Flow per Share
----0.30.40.1----------0.25Dividends per Share
-6.09-7.08-6.62-7.43-13.52-17.16-17.05-21.85-22.56-20.07-19.63Tangible Book per Share
----------------19.4820.3422.74Median PS Value
----------------------Graham Number
2011201220132014201520162017201820192020TTMIncome Statement
2804.529492975.630653742.74217.54365.25081.35453.95531.76105.2Revenue
495.9505.4480.2482.7531.2552.1629.9740.2812.9821.3976Gross Profit
17.717.116.115.814.213.114.414.614.914.916Gross Margin %
133.9129.5141.3153.6197252.2274.1322.9341253.7176.5Total Operating Expense
362.1375.9338.9329.1334.2299.8355.9417.3471.9567.7799.6Operating Income
12.912.811.410.78.97.18.28.28.710.313.1Operating Margin %
107.8148.2114.4120.6130.7115.4177.2137.8148.4259429.6Net Income
3.953.83.93.52.74.12.72.74.77Net Margin %
282.9338.5285.2289.2321.2350.8357.2434465.3609.5847EBIT
354.5401.8349.6357.6426.2496.1517.2635.7677.9815.11049.2EBITDA
13.31914.915.415.913.420.916.418.227.336.9ROE %
3.95.44.14.23.62.53.52.52.23.55.5ROA %
2011201220132014201520162017201820192020Sep21Balance Sheet
1240.14.33.414.499122.5175.2335.9577.1748Cash & Equivalents
413.7359.9391.3444.3603.6573.8691.7706.7762.7896.8898.8Total Receivables
2772.12761.42817.62924.84388.74920.65127.25964.37340.37655.47899.5Total Assets
27.529.530.132.6253.85351.768.9233.1233244.5Short-Term Debt & CLO
13861458.61427.71542.12160.72685.32677.73249.54272.84264.84294.1Long-Term Debt & CLO
1925.82015.919992149.63480.24014.74194.650486411.36402.46535.9Total Liabilities
819.7717786.2739.5859.3815.7823.48037711060.51145.5Total Stockholders Equity
846.3745.5818.6775.2908.5905.9932.6916.292912531363.6Total Equity
2011201220132014201520162017201820192020TTMCashflow Statement
217.1298.7192.5170.6208.4346.6238.1494.2445.21028.1669.4Cash Flow from Operations
-54.7-72.4-107.3-101.1-1211.8-554.3-193-697.1-316.7-115.4-210.5Cash Flow from Investing
-72.8-46.9-11.8-130.7-15.8-2.9-4.8-6.8-38.5-16-67.8Repurchase of Stock
-5967.6-46.4116.9836.5294.4-13.9570.973.5-48.1-3.9Net Issuance of Debt
-154.7-198.2-121-70.51014.4292.3-21.6255.632.3-671.5-350.7Cash Flow from Financing
7.728.1-35.8-111.184.623.552.6160.7241.2108.2Net Change in Cash
-46-68.2-73.7-95.2-182.6-161.6-233.2-167.3-157.1-146.4-166.3Capital Expenditure
171.1230.5118.975.425.81854.9326.9288.1881.6503.2Free Cash Flow
Competitor
TickerCompanyFinancial
Strength
Profitability
Rank
Market Cap
($M)
PE RatioPS RatioNet
Margin %
ROA %ROE %
NYSE:AMNAMN Healthcare Services Inc574,41620.351.386.788.6924.34
NAS:ENSGEnsign Group Inc574,17322.341.677.507.4022.01
NAS:OPCHOption Care Health Inc443,96847.961.212.483.067.94
NYSE:SEMSelect Medical Holdings Corp493,0677.170.497.045.5036.91
NYSE:MDMednax Inc462,111111.001.141.050.662.41
GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Financial Strength[2] (Quarterly data, as of Sep. 2021) : Fair (4/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 0.17

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.15

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 3.96

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 8

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 5.31% vs ROIC : 9.10%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.69%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Profitability[3] (Annual data, as of Dec. 2020) : Good (9/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $1,534 Mil vs Net Income : $77 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $748 Mil vs Long-Term Debt* : $4,294 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 9.79%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $0.57

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.13

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $0.38

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Valuation (Quarterly data, as of Sep. 2021)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $22.86)


PE Ratio without NRI : 11.34

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 4.24

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 0.78

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 9.48

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 10.46

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Altman Z-Score : Distress

Altman Z-score of 1.59 is in distress zone. This implies bankrupcy possibility in the next two years.

Asset Growth : faster than revenue growth

If a company builds asset at 11.1% a year, faster than its revenue growth rate of 8.1% over the past 5 years, it means that the company may be getting less efficent.

Good Signs

Piotroski F-Score : High

Piotroski F-Score is 8, indicating very healthy situation.

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Revenue per Share : Consistent growth

Select Medical Holdings Corp has shown predictable revenue and earnings growth.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
NAS:HCSGHealthcare Services Group Inc8/1017.390.610.0370.0455.94-2.612.6017.63
NAS:ADUSAddus HomeCare Corp6/100.580.600.4711.7253.64-2.507.006.96
NYSE:AMNAMN Healthcare Services Inc5/100.160.390.847.2083.67-2.022.5912.19
NAS:ACHCAcadia Healthcare Co Inc5/100.130.530.633.8962.06-3.518.516.13
NAS:ENSGEnsign Group Inc5/100.250.351.3237.7173.00-2.506.329.26
NYSE:MDMednax Inc4/100.430.321.262.4261.68-2.268.767.51
NAS:OPCHOption Care Health Inc4/100.170.391.112.2882.92-2.4910.227.46
NYSE:SEMSelect Medical Holdings Corp4/100.170.153.965.8181.59-2.615.319.10
NYSE:THCTenet Healthcare Corp3/100.160.0319.582.8351.33-2.489.689.08
NYSE:NFHNew Frontier Health Corp0/100.000.000.000.0000.000.000.000.00

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
NYSE:SEMSelect Medical Holdings Corp9/1013.107.0436.915.505.9942.857.6015.8013.20
NAS:ADUSAddus HomeCare Corp8/106.974.857.624.7326.7565.029.409.0026.80
NYSE:AMNAMN Healthcare Services Inc7/1010.396.7824.348.6920.55111.667.701.00-18.00
NAS:ENSGEnsign Group Inc7/109.787.5022.017.4018.4013.6412.5045.20112.30
NAS:HCSGHealthcare Services Group Inc7/105.664.3514.859.0917.3046.84-2.000.203.50
NAS:ACHCAcadia Healthcare Co Inc6/1017.38-29.32-28.60-12.1518.4015.21-10.20-8.20-11.80
NYSE:MDMednax Inc6/1010.491.052.410.660.0059.10-15.90-32.900.00
NYSE:THCTenet Healthcare Corp5/1013.665.52709.874.087.2844.21-4.5010.100.00
NAS:OPCHOption Care Health Inc4/105.262.487.943.0627.9649.26-14.10-22.5074.30
NYSE:NFHNew Frontier Health Corp0/100.000.000.000.000.000.000.000.000.00

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
NAS:ACHCAcadia Healthcare Co IncAt Loss1.942.111.390.001.140.004.655.840.21
NYSE:NFHNew Frontier Health CorpAt Loss0.000.000.000.000.000.000.000.000.00
NYSE:SEMSelect Medical Holdings Corp7.172.680.490.570.371.010.460.0012.3527.78
NYSE:THCTenet Healthcare Corp7.6011.270.420.990.002.061.230.0014.9317.35
NAS:HCSGHealthcare Services Group Inc18.252.720.801.240.870.500.001.638.666.45
NYSE:AMNAMN Healthcare Services Inc20.354.241.381.370.001.292.250.006.5613.24
NAS:ENSGEnsign Group Inc22.344.261.672.010.002.051.022.134.9423.59
NAS:ADUSAddus HomeCare Corp30.652.201.481.481.251.482.350.004.3616.88
NAS:OPCHOption Care Health Inc47.963.621.213.590.002.380.000.003.29-13.70
NYSE:MDMednax Inc111.002.501.140.570.000.560.000.006.31-14.02
GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Per Share Data



Per Share Data

Dec05
Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
30.47
30.36
10.47
36.15
26.03
14.99
18.61
21.21
21.71
23.67
29.3
32.96
34.17
39.01
41.86
42.62
46.47
Revenue per Share
1.82
5.01
1.33
4.53
3.72
1.91
2.35
2.89
2.55
2.76
3.34
3.88
4.05
4.88
5.2
6.28
7.99
EBITDA per Share
1.06
4.23
1.03
3.32
2.89
1.48
1.88
2.44
2.08
2.23
2.52
2.74
2.8
3.33
3.57
4.7
6.45
EBIT per Share
-0.85
1.18
0.05
-0.04
0.61
0.48
0.71
1.05
0.82
0.91
0.99
0.87
1.33
1.02
1.1
1.93
3.19
Earnings per Share (Diluted)
-0.85
1.18
0.05
-0.04
0.61
0.48
0.71
1.05
0.82
0.91
0.99
0.87
1.33
1.02
1.1
1.93
3.19
EPS without NRI
--
--
--
--
--
-0.06
0.19
1.42
0.44
0.3
0.63
1.85
0.34
2.25
1.54
6.05
3.02
Owner Earnings per Share (TTM)
-0.87
1.19
-0.42
0.86
1.25
0.58
1.14
1.66
0.87
0.58
0.2
1.45
0.04
2.51
2.21
6.79
3.82
Free Cash Flow per Share
0.94
3.73
0.45
1.8
1.93
0.91
1.44
2.15
1.41
1.32
1.63
2.71
1.86
3.79
3.42
7.92
5.08
Operating Cash Flow per Share
0.82
1.34
0.02
1.08
0.52
0.03
0.08
0.29
0.03
0.03
0.11
0.75
0.91
1.3
2.5
4.28
5.58
Cash per Share
--
--
--
--
--
--
--
--
0.3
0.4
0.1
--
--
--
--
--
0.25
Dividends per Share
-4.01
-2.77
-0.87
-2.93
4.62
5.07
5.64
5.1
5.61
5.64
6.55
6.15
6.14
5.94
5.74
7.86
8.54
Book Value per Share
-26.83
-25.77
-9.17
-29.46
-5.47
-6
-6.09
-7.08
-6.62
-7.43
-13.52
-17.16
-17.05
-21.85
-22.56
-20.07
-19.63
Tangible Book per Share
27.45
25.43
9.34
30.24
8.79
9.38
9.73
10.59
10.39
12
18.4
20.65
20.35
24.53
33.54
33.35
33.83
Total Debt per Share
--
--
--
--
10.62
7.31
8.48
9.43
11.61
14.4
11.91
13.25
17.65
15.35
23.34
27.66
22.86
Month End Stock Price

Ratios

Dec05
Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
--
--
--
--
19.74
10.15
13.3
18.96
14.89
15.37
15.88
13.36
20.92
16.39
18.23
27.31
36.91
ROE %
--
--
--
--
8.58
7.05
8.87
10.25
7.19
6
8.73
6.21
7.26
6.33
4.48
7.76
13.77
ROE % Adjusted to Book Value
-1.29
4.36
1.51
0.88
2.91
2.92
3.93
5.36
4.1
4.2
3.58
2.48
3.53
2.49
2.23
3.45
5.5
ROA %
--
Neg. E
Neg. E
--
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E
Neg. E Return-on-Tangible-Equity
-3.6
12.19
4.18
2.34
7.63
7.82
10.37
14
10.63
10.43
8.82
6.44
9.21
6.53
5.17
6.97
10.61
Return-on-Tangible-Asset
19.78
75.33
44.38
36.58
45.31
40.43
45.25
56.6
47.97
43.74
35.14
32.47
32.55
37.45
27.7
29.2
42.85
ROC (Joel Greenblatt) %
3.51
13.76
9.67
9.02
11.02
10.49
12.27
14.17
11.8
11.62
10.38
8.76
8.05
8.88
7.96
9.64
13.22
ROCE %
4.83
9.1
6.38
4.47
7.26
7.79
9.02
9.94
8.69
8.23
6.75
5.07
8.86
6.53
6.22
6.56
9.1
ROIC %
--
--
--
--
10.93
7.71
6.74
6.1
7.36
4.29
6.04
7.57
7.92
8.97
6.33
5.64
5.31
WACC %
6.38
8.18
8.42
8.16
8.26
7.87
6.93
6.54
5.93
5.64
5.66
6.6
5.66
6.56
5.13
3.4
3.05
Effective Interest Rate on Debt %
19.9
19.81
16.65
16.79
18.76
17.07
17.68
17.14
16.14
15.75
14.19
13.09
14.43
14.57
14.91
14.85
15.99
Gross Margin %
6.41
13.93
9.73
9.12
10.53
11.6
12.91
12.75
11.39
10.74
8.93
7.11
8.15
8.21
8.65
10.26
13.1
Operating Margin %
-1.5
5.12
1.78
1.04
3.36
3.25
3.85
5.03
3.84
3.94
3.49
2.74
4.06
2.71
2.72
4.68
7.04
Net Margin %
-2.84
3.92
-4.02
2.37
4.81
3.88
6.1
7.82
3.99
2.46
0.69
4.39
0.11
6.43
5.28
15.94
8.24
FCF Margin %
-6.84
-9.17
-10.71
-10.34
1.9
1.85
1.72
2.08
1.85
2.13
2.81
3.36
3.32
4.13
5.85
4.24
3.96
Debt-to-Equity
-0.11
-0.08
-0.07
-0.07
0.29
0.29
0.3
0.26
0.28
0.25
0.2
0.17
0.16
0.14
0.11
0.14
0.15
Equity-to-Asset
0.77
0.71
0.71
0.7
0.54
0.53
0.51
0.54
0.52
0.54
0.55
0.56
0.53
0.56
0.61
0.59
0.58
Debt-to-Asset
1.11
1.08
1.06
1.07
0.7
0.7
0.7
0.73
0.71
0.74
0.79
0.82
0.82
0.85
0.87
0.84
0.83
Liabilities-to-Assets
17.05
16.86
14.18
14.25
16.26
15.37
18.05
18.27
17.21
16.81
14.53
11.86
12.54
13.35
12.22
10.95
12.48
Gross-Profit-to-Asset %
0.86
0.85
0.85
0.85
0.87
0.9
1.02
1.07
1.07
1.07
1.02
0.91
0.87
0.92
0.82
0.74
0.78
Asset Turnover
--
--
--
--
--
--
--
--
0.37
0.44
0.1
--
--
--
--
--
0.08
Dividend Payout Ratio
50.44
45.02
43.19
49.48
50.48
50.43
49.92
47.88
46.07
49.75
51.09
50.95
52.91
50.23
49.17
54.75
54.15
Days Sales Outstanding
14.84
16.36
16.1
14.91
14.63
13.59
13.42
13.83
13.01
13.91
13.98
13.14
12.45
11.56
11.5
12.51
12.91
Days Payable
35.6
28.66
27.09
34.57
35.85
36.84
36.5
34.05
33.06
35.84
37.11
37.81
40.46
38.67
37.67
42.24
41.24
Cash Conversion Cycle
0.8
0.8
0.83
0.83
0.81
0.83
0.82
0.83
0.84
0.84
0.86
0.87
0.86
0.85
0.85
0.85
0.84
COGS-to-Revenue
0.06
0.08
0.08
0.03
0.03
0.02
0.02
0.02
0.03
0.03
0.05
0.04
0.05
0.03
0.03
0.03
0.03
Capex-to-Revenue
0.92
0.6
0.86
0.29
0.25
0.19
0.13
0.18
0.22
0.29
0.55
0.54
0.66
0.4
0.33
0.26
0.21
Capex-to-Operating-Income
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Financial Satement



Income Statement

Dec05
Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
1858
1851
1992
2153
2240
2390
2805
2949
2976
3065
3743
4217
4365
5081
5454
5532
6105
Revenue
1489
1485
1660
1792
1820
1982
2309
2444
2495
2582
3212
3665
3735
4341
4641
4710
5129
Cost of Goods Sold
370
367
332
362
420
408
496
505
480
483
531
552
630
740
813
821
976
Gross Profit
19.9
19.81
16.65
16.79
18.76
17.07
17.68
17.14
16.14
15.75
14.19
13.09
14.43
14.57
14.91
14.85
15.99
Gross Margin %
207
62.32
80.44
93.33
72.41
62.12
62.35
66.19
76.92
85.25
92.05
107
114
121
128
138
144
Selling, General, & Admin. Expense
43.86
46.67
57.3
71.79
112
68.71
71.52
63.31
64.39
68.35
105
145
160
202
213
116
32.21
Other Operating Expense
251
109
138
165
184
131
134
130
141
154
197
252
274
323
341
254
176
Total Operating Expense
119
258
194
196
236
277
362
376
339
329
334
300
356
417
472
568
800
Operating Income
6.41
13.93
9.73
9.12
10.53
11.6
12.91
12.75
11.39
10.74
8.93
7.11
8.15
8.21
8.65
10.26
13.1
Operating Margin %
1.29
1.29
2.1
0.47
0.09
--
0.32
--
--
--
--
--
--
--
--
--
4.75
  Interest Income
-107
-132
-140
-146
-132
-112
-99.22
-94.95
-87.36
-85.45
-113
-170
-155
-198
-201
-153
-138
  Interest Expense
-106
-131
-138
-145
-132
-112
-98.89
-94.95
-87.36
-85.45
-113
-170
-155
-198
-201
-153
-133
Net Interest Income
-55.51
-1.41
-0.17
0.91
12.94
-40.96
-79.44
-37.41
-53.69
-39.83
-12.91
50.97
1.29
16.77
-6.56
41.83
42.64
Other Income (Expense)
-41.98
126
55.67
51.9
116
124
184
244
198
204
208
181
202
236
265
456
709
Pre-Tax Income
10.46
-43.52
-18.7
-26.06
-37.52
-41.63
-70.97
-89.66
-74.79
-75.62
-72.44
-55.46
18.18
-58.61
-63.72
-112
-173
Tax Provision
24.91
34.56
33.59
50.22
32.23
33.57
38.63
36.81
37.81
37.11
34.75
30.69
-8.98
24.88
24.07
24.51
24.46
Tax Rate %
-31.52
82.4
36.97
25.83
78.89
82.36
113
154
123
128
136
125
221
177
201
345
536
Net Income (Continuing Operations)
3.59
12.48
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Net Income (Discontinued Operations)
--
--
-1.54
-3.39
-3.61
-4.72
-4.92
-5.66
-8.62
-7.55
-5.26
-9.86
-43.46
-39.1
-52.58
-85.61
-106
  Other Income (Minority Interest)
-27.92
94.88
35.43
22.44
75.28
77.64
108
148
114
121
131
115
177
138
148
259
430
Net Income
-1.5
5.12
1.78
1.04
3.36
3.25
3.85
5.03
3.84
3.94
3.49
2.74
4.06
2.71
2.72
4.68
7.04
Net Margin %
23.52
22.66
23.81
24.97
19.54
--
--
--
--
--
--
--
--
--
--
--
-- Preferred Dividends
-0.85
1.19
0.05
-0.04
0.61
0.49
0.71
1.05
0.82
0.91
1
0.88
1.33
1.02
1.1
1.93
3.19
EPS (Basic)
-0.85
1.18
0.05
-0.04
0.61
0.48
0.71
1.05
0.82
0.91
0.99
0.87
1.33
1.02
1.1
1.93
3.19
EPS (Diluted)
60.99
60.99
190
59.57
86.05
159
151
139
137
129
128
128
128
130
130
130
131
Shares Outstanding (Diluted Average)
64.88
258
196
198
249
236
283
339
285
289
321
351
357
434
465
609
847
EBIT
46.12
48.02
57.3
71.79
70.98
68.71
71.52
63.31
64.39
68.35
105
145
160
202
213
206
202
Depreciation, Depletion and Amortization
111
306
253
270
320
305
354
402
350
358
426
496
517
636
678
815
1049
EBITDA

Cashflow Statement

Dec05
Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
-27.92
94.88
36.97
25.83
78.89
82.36
113
154
123
128
136
125
221
177
201
345
536
Net Income From Continuing Operations
46.12
48.02
57.3
71.79
70.98
68.71
71.52
63.31
64.39
68.35
105
145
160
202
213
206
202
Depreciation, Depletion and Amortization
-51.88
30.8
-75.54
-88.55
-35.46
-64.33
-111
15.16
-67.15
-97.8
-92.57
29.24
-119
54.58
-57.99
-117
-24.54
  Change In Receivables
36.66
19.24
12.11
0.44
-15.51
0.82
25.74
9.41
8.31
-10.04
9.55
30.8
21.24
26.12
43.04
196
162
  Change In Payables And Accrued Expense
6.39
8.46
7.66
25.14
5
-5.19
-3.28
4.26
-11.65
-1.83
2.21
26.74
0.71
3.71
1.86
400
-226
  Change In Other Working Capital
-8.83
58.5
-55.78
-62.96
-45.97
-68.7
-88.66
28.82
-70.49
-110
-80.82
86.78
-96.88
84.4
-13.09
479
-88.24
Change In Working Capital
--
13.33
2.46
21.76
27.1
9.45
35.31
7.91
7.03
14.31
-2.06
-12.59
-72.32
7.22
-7.44
-14.72
-12.12
Deferred Tax
--
3.78
3.75
2.09
5.15
2.24
3.73
5.68
7.03
11.19
14.99
17.41
19.28
23.33
26.45
27.25
28.42
Stock Based Compensation
--
--
--
--
--
--
--
--
--
--
--
5.34
--
--
--
--
-- Asset Impairment Charge
47.85
9.15
41.32
48.93
29.49
50.48
82.48
39.07
61.55
58.29
35.32
-20.92
7.4
0.65
25.65
-13.82
3.27
Cash Flow from Others
57.21
228
86.01
107
166
145
217
299
193
171
208
347
238
494
445
1028
669
Cash Flow from Operations
-110
-155
-166
-56.5
-57.88
-51.76
-46.02
-68.19
-73.66
-95.25
-183
-162
-233
-167
-157
-146
-166
Purchase Of Property, Plant, Equipment
--
--
6.44
0.74
1.34
0.57
--
--
--
--
--
--
--
--
--
--
-- Sale Of Property, Plant, Equipment
-112
-3.36
-237
-7.62
-21.38
-166
-16.6
-20.73
-36.56
-5.85
-1064
-477
-40.07
-537
-160
-52.23
-55.5
Purchase Of Business
--
74.97
9.61
2.67
--
--
--
--
--
--
33.1
3.78
--
--
--
--
-- Sale Of Business
0.69
2.01
4.34
0.28
--
--
7.88
16.51
2.91
0
1.77
80.46
80.35
6.76
0.19
83.32
11.26
Cash From Other Investing Activities
-221
-81.48
-383
-60.44
-77.92
-217
-54.74
-72.41
-107
-101
-1212
-554
-193
-697
-317
-115
-210
Cash Flow from Investing
1.02
--
0.27
0.09
0.15
0.24
0.21
1.82
1.53
7.36
1.65
--
--
--
--
--
-- Issuance of Stock
-1688
-0.04
-0.01
-0.61
-0.08
-44.14
-72.8
-46.9
-11.78
-131
-15.83
-2.93
-4.75
-6.84
-38.53
-16.03
-67.84
Repurchase of Stock
1634
215
558
407
200
260
2319
771
1604
1036
1779
1409
2156
1417
3177
510
24.54
  Issuance of Debt
-474
-314
-337
-392
-583
-218
-2378
-704
-1650
-919
-942
-1114
-2170
-846
-3104
-558
-28.47
  Payments of Debt
1160
-98.66
221
15.21
-383
41.48
-58.95
67.59
-46.37
117
837
294
-13.88
571
73.46
-48.12
-3.93
Net Issuance of Debt
-177
-1.76
-1.7
--
--
--
--
-211
-41.96
-53.37
-13.13
--
--
--
--
--
-- Cash Flow for Dividends
655
--
--
-1.96
315
-4.43
-23.17
-9.8
-22.45
-10.64
205
0.86
-3.01
-309
-2.68
-607
-279
Other Financing
-48.51
-100
220
12.73
-68.3
-6.85
-155
-198
-121
-70.52
1014
292
-21.65
256
32.25
-672
-351
Cash Flow from Financing
0.5
0.04
--
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Effect of Exchange Rate Changes
-212
45.74
-77.07
59.73
19.42
-79.32
7.68
28.1
-35.83
-0.97
11.08
84.59
23.52
52.63
161
241
108
Net Change in Cash
-110
-155
-166
-56.5
-57.88
-51.76
-46.02
-68.19
-73.66
-95.25
-183
-162
-233
-167
-157
-146
-166
Capital Expenditure
-52.74
72.56
-80.06
50.93
108
92.78
171
230
119
75.4
25.77
185
4.89
327
288
882
503
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Financial Satement


Balance Sheet

Dec05
Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
35.86
81.6
4.53
64.26
83.68
4.37
12.04
40.14
4.32
3.35
14.44
99.03
123
175
336
577
748
  Cash And Cash Equivalents
13.88
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Marketable Securities
49.74
81.6
4.53
64.26
83.68
4.37
12.04
40.14
4.32
3.35
14.44
99.03
123
175
336
577
748
Cash, Cash Equivalents, Marketable Securities
257
200
271
312
307
353
414
360
391
444
604
574
692
707
763
897
899
  Accounts Receivable
257
200
271
312
307
353
414
360
391
444
604
574
692
707
763
897
899
Total Receivables
89.32
63.71
79.66
90.18
69.87
71.53
57.62
53.59
58.76
80.02
131
90.12
107
111
114
120
133
Other Current Assets
396
345
356
467
461
429
483
454
454
528
749
763
921
993
1213
1594
1779
Total Current Assets
17.6
24.26
40.58
48.61
49.34
68.57
69.9
68.57
68.49
71.64
76.12
76.99
77.08
87.36
95.55
93.76
--   Land And Improvements
55.28
106
172
252
257
333
361
353
369
396
411
421
415
481
554
553
--   Buildings And Improvements
85.95
117
176
206
208
226
225
247
256
273
383
433
518
610
670
704
--   Machinery, Furniture, Equipment
67.78
100
105
6.71
38.8
19.52
9.69
21.65
26.64
41.23
147
165
113
67.33
52.47
62.75
--   Construction In Progress
46.24
56.78
72.01
82.23
85.54
111
120
128
146
156
296
310
421
499
1548
1595
2007
  Other Gross PPE
273
405
565
596
639
758
786
818
866
938
1313
1405
1543
1744
2920
3009
2007
Gross Property, Plant and Equipment
-24.31
-48.19
-78.13
-125
-173
-226
-276
-317
-357
-395
-449
-513
-631
-765
-917
-1033
--   Accumulated Depreciation
249
356
487
471
466
532
510
502
509
542
864
892
913
980
2002
1976
2007
Property, Plant and Equipment
1392
1403
1579
1581
1614
1711
1704
1712
1715
1715
2633
3092
3109
3758
3801
3767
3778
Intangible Assets
1305
1324
1499
1507
1548
1631
1632
1641
1643
1642
2315
2751
2783
3321
3392
3379
3400
  Goodwill
132
78.15
73.77
60.8
47.82
49.29
74.87
93.87
140
140
142
174
184
234
324
319
335
Other Long Term Assets
1773
1837
2139
2113
2128
2293
2289
2308
2363
2397
3640
4158
4206
4972
6127
6061
6120
Total Long-Term Assets
2168
2183
2495
2579
2588
2722
2772
2761
2818
2925
4389
4921
5127
5964
7340
7655
7899
Total Assets
60.53
72.6
73.85
72.5
73.43
74.19
95.62
89.55
88.29
109
137
127
128
147
146
177
192
  Accounts Payable
--
1.94
--
--
--
--
--
--
0.62
--
--
--
9.07
3.67
2.64
7.96
31.25
  Total Tax Payable
12.18
12.89
15.07
5.71
1.91
5.3
5.53
1.08
--
--
--
--
--
--
--
0
-0
  Other Current Payables
194
180
223
240
224
188
255
253
253
253
338
392
416
486
533
616
696
  Current Accrued Expense
267
267
312
318
300
268
356
344
341
362
476
519
554
636
681
801
920
Accounts Payable & Accrued Expense
51.61
18.42
28.87
30.18
4.15
168
27.46
29.48
30.07
32.62
254
53.02
51.65
68.95
25.17
12.62
18.06
  Short-Term Debt
--
--
--
--
--
--
--
--
--
--
--
--
--
--
208
220
226
  Short-Term Capital Lease Obligation
51.61
18.42
28.87
30.18
4.15
168
27.46
29.48
30.07
32.62
254
53.02
51.65
68.95
233
233
244
Short-Term Debt & Capital Lease Obligation
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
404
162
  Current Deferred Revenue
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
404
162
DeferredTaxAndRevenue
--
--
0
0
--
63.76
--
0
--
--
-0
--
--
--
--
--
-- Other Current Liabilities
318
286
341
348
304
500
384
373
372
394
729
572
605
705
914
1438
1326
Total Current Liabilities
1622
1532
1748
1771
1401
1281
1386
1459
1428
1542
2161
2685
2678
3250
3420
3389
3384
  Long-Term Debt
--
--
--
--
--
--
--
--
--
--
--
--
--
--
853
875
910
  Long-Term Capital Lease Obligation
1622
1532
1748
1771
1401
1281
1386
1459
1428
1542
2161
2685
2678
3250
4273
4265
4294
Long-Term Debt & Capital Lease Obligation
-6.84
-9.17
-10.71
-10.34
1.9
1.85
1.72
2.08
1.85
2.13
2.81
3.36
3.32
4.13
5.85
4.24
3.96
Debt-to-Equity
19.44
32.08
22.97
42.92
52.68
59.07
82.03
89.51
96.29
109
219
199
125
154
148
132
120
NonCurrent Deferred Liabilities
449
499
543
584
60.54
66.65
73.89
94.51
103
104
371
559
787
939
1076
567
795
Other Long-Term Liabilities
2090
2063
2314
2397
1515
1407
1542
1643
1627
1755
2751
3443
3589
4343
5497
4964
5209
Total Long-Term Liabilities
2409
2349
2655
2746
1819
1907
1926
2016
1999
2150
3480
4015
4195
5048
6411
6402
6536
Total Liabilities
0.21
0.21
0.21
0.06
0.16
0.16
0.15
0.14
0.14
0.13
0.13
0.13
0.13
0.14
0.13
0.14
0.13
Common Stock
48.81
121
131
128
169
248
326
243
311
326
435
372
360
320
280
553
639
Retained Earnings
5.36
4.89
-5.56
-13.21
-8.91
--
--
--
--
--
--
--
--
--
--
-2.03
4.2
Accumulated other comprehensive income (loss)
-299
-295
-291
-289
579
536
494
474
475
414
425
444
463
483
491
509
502
Additional Paid-In Capital
0
-0
--
--
--
--
--
--
0
--
0
--
--
0
--
--
-- Other Stockholders Equity
-245
-169
-166
-174
739
784
820
717
786
740
859
816
823
803
771
1060
1145
Total Stockholders Equity
4.36
2.57
5.76
7.8
30.57
31.53
26.66
28.43
32.41
35.73
49.26
90.18
109
113
158
192
218
Minority Interest
-240
-167
-160
-166
770
815
846
745
819
775
909
906
933
916
929
1253
1364
Total Equity
-0.11
-0.08
-0.07
-0.07
0.29
0.29
0.3
0.26
0.28
0.25
0.2
0.17
0.16
0.14
0.11
0.14
0.15
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Valuation Ratios



Valuation Ratios

Dec05
Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
N/A
N/A
N/A
N/A
17.41
15.23
11.94
8.98
14.16
15.82
12.03
15.23
13.27
15.05
21.22
14.33
7.17
PE Ratio
N/A
N/A
N/A
N/A
17.41
15.23
11.94
8.98
14.16
15.82
12.03
15.23
13.27
15.05
21.22
14.33
7.17
PE Ratio without NRI
--
--
--
--
--
--
43.71
6.65
26.33
48.32
18.93
7.15
51.91
6.83
15.2
4.57
7.58
Price-to-Owner-Earnings
--
--
--
--
2.3
1.44
1.5
1.85
2.07
2.56
1.82
2.15
2.88
2.59
4.07
3.52
2.68
PB Ratio
--
--
--
--
8.48
12.56
7.47
5.69
13.39
24.74
58.96
9.17
464
6.12
10.56
4.07
5.99
Price-to-Free-Cash-Flow
--
--
--
--
5.52
8.06
5.88
4.39
8.26
10.93
7.3
4.89
9.47
4.05
6.83
3.49
4.5
Price-to-Operating-Cash-Flow
--
--
--
--
0.41
0.49
0.46
0.44
0.53
0.61
0.41
0.4
0.52
0.39
0.56
0.65
0.49
PS Ratio
--
--
--
--
--
--
--
--
--
21.67
1.47
1.76
1.3
1.1
1.63
1.29
0.56
PEG Ratio
--
--
--
--
1.36
1.09
0.95
0.95
1.05
1.14
1.07
1.06
1.16
1.05
1.37
1.42
1.12
EV-to-Revenue
--
--
--
--
9.54
8.54
7.5
6.97
8.91
9.78
9.41
9.04
9.83
8.39
11.01
9.62
6.54
EV-to-EBITDA
--
--
--
--
12.26
11.03
9.4
8.28
10.92
12.09
12.49
12.79
14.23
12.29
16.04
12.87
8.1
EV-to-EBIT
--
--
--
--
8.16
9.07
10.64
12.08
9.16
8.27
8.01
7.82
7.03
8.14
6.23
7.77
12.35
Earnings Yield (Joel Greenblatt) %
--
--
--
--
--
--
-9.15
-3.48
-0.44
7.66
15.7
16.16
14.31
20.16
18.27
19.72
27.78
Forward Rate of Return (Yacktman) %
--
--
--
--
--
--
--
--
--
--
16.41
19.25
21.68
16.39
23.33
24.02
16.09
Shiller PE Ratio
--
--
--
--
--
--
--
--
2.58
2.78
0.84
--
--
--
--
--
1.64
Dividend Yield %

Valuation and Quality

Dec05
Dec06
Dec07
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
TTM Fiscal Period
--
--
--
--
1699
1130
1232
1326
1628
1890
1563
1757
2367
2076
3135
3730
3067
Market Cap
--
--
--
--
3051
2606
2660
2802
3114
3497
4012
4486
5083
5333
7463
7843
6857
Enterprise Value
--
--
--
--
10.62
7.31
8.48
9.43
11.61
14.4
11.91
13.25
17.65
15.35
23.34
27.66
22.86
Month End Stock Price
-38.75
-37.22
-13.96
-45.15
-11.04
-12.52
-13.36
-14.26
-14.45
-16.63
-26.78
-30.21
-31.18
-36.86
-46.4
-44.63
-44.77
Net Cash per Share
-33.07
-32.9
-12.12
-38.39
-8.68
-9.77
-10.11
-11.31
-11.24
-12.63
-21.19
-25.2
-25.22
-30.82
-39.87
-37.08
-37.08
Net Current Asset Value
-35.59
-34.76
-12.89
-41.22
-9.6
-10.8
-11.22
-12.34
-12.36
-14.09
-23.33
-26.97
-27.31
-32.94
-42.15
-39.64
-39.75
Net-Net Working Capital
--
--
--
--
--
--
8.86
11.36
13.09
14.8
18.88
19.39
17.47
19.79
22.15
34.85
39.9
Intrinsic Value: Projected FCF
--
--
--
--
--
--
--
--
--
--
--
--
--
--
19.48
20.34
22.74
Median PS Value
--
--
--
--
--
--
--
--
--
--
8.13
7.63
13.71
14
14.24
21.51
49.29
Peter Lynch Fair Value
--
--
--
--
--
-0.45
2.57
5.65
5.91
3.5
-3.44
-6.72
-6.13
-8.94
-14.67
-9
-3.03
Earnings Power Value (EPV)
--
1.35
1.14
1.21
1.91
1.62
1.94
2.03
2.07
2.11
1.51
1.51
1.59
1.47
1.35
1.46
1.59
Altman Z-Score
N/A
N/A
5
7
8
7
8
6
7
7
5
5
8
5
5
5
8
Piotroski F-Score
--
--
-2.2
-2.53
-2.64
-2.28
-2.37
-2.76
-2.42
-2.4
-2.17
-2.75
-2.42
-2.74
-2.6
-2.86
-2.61
Beneish M-Score
0.64
0.6
0.74
0.63
0.81
0.87
0.83
0.79
0.82
0.83
1.13
0.81
0.72
0.79
0.86
0.71
0.65
Scaled Net Operating Assets
6.26
-2.35
13.31
-0.95
-0.48
5.51
-1.97
-2.83
1.04
1.75
25.84
6.57
2.57
5.71
0.27
-8.54
-0.37
Sloan Ratio %
1.24
1.21
1.04
1.34
1.52
0.86
1.26
1.22
1.22
1.34
1.03
1.33
1.52
1.41
1.33
1.11
1.34
Current Ratio
1.24
1.21
1.04
1.34
1.52
0.86
1.26
1.22
1.22
1.34
1.03
1.33
1.52
1.41
1.33
1.11
1.34
Quick Ratio
0.16
0.29
0.01
0.18
0.28
0.01
0.03
0.11
0.01
0.01
0.02
0.17
0.2
0.25
0.37
0.4
0.56
Cash Ratio
1.11
1.96
1.38
1.35
1.78
2.47
3.65
3.96
3.88
3.85
2.96
1.76
2.3
2.1
2.35
3.71
5.81
Interest Coverage
--
--
--
--
10.78
10.75
9.54
13.73
11.69
16.05
16.96
14.05
19.45
21.6
23.34
28.21
43.6
Highest Stock Price
--
--
--
--
--
5.76
5.63
7.11
7.73
10.21
10.21
7.5
12.15
14.93
13.13
11.21
22.77
Lowest Stock Price
--
--
-212
68.7
-169
3.41
5.99
3.22
0.23
6.44
--
-1.04
-1.14
-0.86
0.69
-0.39
0.46
Shares Buyback Ratio %
--
--
--
--
--
3.89
5.89
3.4
0.63
6.53
0.91
0.17
0.2
0.33
1.23
0.43
2.21
Buyback Yield %
--
-0.37
-65.52
245
-27.99
-42.41
24.11
13.98
2.38
9.03
23.75
12.49
3.68
14.16
7.32
1.82
11.75
YoY Rev. per Sh. Growth
--
239
-95.78
-180
1625
-21.31
47.92
47.89
-21.9
10.98
8.79
-12.12
52.87
-23.31
7.84
75.45
101
YoY EPS Growth
--
175
-73.47
240
-17.87
-48.53
22.95
22.87
-11.73
8.27
20.78
16.22
4.41
20.55
6.64
20.7
40.84
YoY EBITDA Growth
--
--
--
--
--
--
-17.87
-14.47
-11.02
0.73
8.21
8.67
10.23
13.73
13.05
11.09
12.9
5-Year EBITDA Growth Rate
60.51
60.51
190
59.57
85.59
159
151
139
137
129
127
128
127
130
130
130
131
Shares Outstanding (Basic Average)
60.99
60.99
190
59.57
160
155
145
141
140
131
131
133
134
135
134
135
134
Shares Outstanding (EOP)
--
--
--
--
--
--
1.25
1.07
1.26
0.47
1.07
1.5
1.42
1.74
1.25
1.39
1.25
Beta
12/31/06
06/25/08
06/25/08
08/13/09
03/17/10
03/09/11
03/02/12
02/26/13
02/25/14
02/25/15
02/26/16
02/23/17
02/22/18
02/21/19
02/20/20
02/25/21
  Filing Date
12/31/06
06/25/08
08/13/09
03/17/10
03/09/11
02/26/13
02/25/14
02/25/15
02/26/16
02/23/17
02/22/18
02/21/19
02/20/20
02/25/21
02/25/21
02/25/21
  Restated Filing Date
02/24/12
02/22/13
02/21/14
02/20/15
02/24/17
02/23/18
02/22/19
02/21/20
02/26/21
  Earnings Release Date
--
--
--
--
143
112
108
125
124
111
111
118
124
123
123
129
129
Number of Shareholders
--
18200
--
21300
22500
25900
28800
29900
31200
31400
41000
41500
42200
47100
49900
49600
49600
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Jan 23, 2022
Select Medical Holdings Corp (NYSE:SEM)
www.gurufocus.com/stock/NYSE:SEM

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

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