# Community Health Systems, Inc. (CYH)

> Source: Nexqual · https://nexqual.com/CYH · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Community Health Systems, Inc. (CYH), nexqual.com/CYH" · informational, not investment advice.

**Price:** USD 2.91 (+3.19% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 2.82 · day 2.81–2.92 · 52w 2.41–4.43 · market cap $410M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $12.0B, net income $252M (2.1% margin), free cash flow -$185M (SEC filings).
- Valuation: P/E 1.6x (avg 0.8x at the last 1 fiscal year-ends), EV/EBITDA 5.4x, net debt $9.40B.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $118K; 1 not under a Rule 10b5-1 plan ($118K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 3.20 on a 1–5 scale) (10 analysts), mean target USD 3.09 (range 2–4).
- Total return with dividends: 1Y -10.7% vs S&P 500 +14.9%; 5Y -74.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD -0.32, revenue estimate $2.80B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.4B | $12.2B | $12.5B | $12.6B | $12.5B | $12.0B |
| Gross profit | $10.3B | $10.2B | $10.5B | $10.7B | $10.6B | — |
| Operating income | $1.40B | $821M | $957M | $542M | $1.49B | $1.36B |
| Net income | $230M | $46.0M | -$133M | -$516M | $509M | $252M |
| EPS (diluted) | $1.76 | $0.35 | -$1.02 | -$3.90 | $3.77 | — |
| Free cash flow | -$600M | -$115M | -$257M | $120M | $208M | -$185M |
| Gross margin | 83.5% | 83.8% | 84.0% | 84.6% | 85.1% | — |
| Operating margin | 11.3% | 6.7% | 7.7% | 4.3% | 11.9% | 11.4% |
| Net margin | 1.9% | 0.4% | -1.1% | -4.1% | 4.1% | 2.1% |
| Revenue growth | +4.9% | -1.3% | +2.3% | +1.2% | -1.2% | — |
| Cash + short-term investments | $507M | $118M | $38.0M | $37.0M | $260M | — |
| Total debt | $12.1B | $11.6B | $11.5B | $11.5B | $10.4B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 1.6x · P/S 0.0x · EV/EBITDA 5.4x · EV/Sales 0.8x · FCF yield -45.08% · Earnings yield 61.41% · Net debt $9.40B · EV $9.81B
P/E at fiscal year-ends: Dec 2025 0.8x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-25 | Jennings William Norris | Director | 40,000 | $118K | 51% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.20 on a 1–5 scale), 10 analysts; mean target USD 3.09 (low 2, high 4).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-23 | BMO Capital | Initiated | Market Perform | $3 |
| 2026-07-27 | RBC Capital | Target lowered | Outperform | $5 → $4 |
| 2026-07-27 | Truist Securities | Target lowered | Hold | $3.75 → $3.25 |
| 2026-07-25 | UBS | Target lowered | Neutral | $3.2 → $3 |
| 2026-07-23 | Barclays | Target lowered | Underweight | $3 → $2.5 |
| 2026-07-14 | Truist Securities | Target raised | Hold | $3 → $3.75 |
| 2026-07-08 | Barclays | Downgrade | Equal-Weight → Underweight | $3 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -10.7% | -74.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -10.8% | -23.7% |
| Volatility (annualized) | 55.8% | 80.5% |
| Max drawdown | -43.5% (Oct 2025→Apr 2026) | -86.1% (Nov 2021→Oct 2022) |

## Peers (Medical Care Facilities)
INNV (InnovAge Holding Corp.) USD 9.52 +4.16% · USPH (U.S. Physical Therapy, Inc.) USD 88.73 +2.84% · NUTX (Nutex Health Inc.) USD 206.09 +4.29% · PNTG (The Pennant Group, Inc.) USD 42.23 +2.90% · AGL (agilon health, inc.) USD 90.29 -0.77% · CMPS (COMPASS Pathways Plc - American) USD 11.63 -1.77%

## More
Full page: https://nexqual.com/CYH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CYH's own 10-K filed 2026-02-19 (https://www.sec.gov/Archives/edgar/data/1108109/000119312526059509/cyh-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | HealthTrust Purchasing Group | "We have a noncontrolling ownership interest in and participation agreement with HealthTrust Purchasing Group, L.P., or HealthTrust, a group purchasing organization, or GPO, which benefits members through scaled pricing." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Managed Care & Other Third Party Payors | $1.29B | 45.8% | -12.7% |
| Medicare Managed Care | $527.0M | 18.7% | -3.7% |
| Medicaid | $520.0M | 18.4% | -4.6% |
| Medicare | $446.0M | 15.8% | -17.7% |
| Self Pay Revenue | $39.0M | 1.4% | +116.7% |
| Total revenue | $2.83B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.32 | $-0.01 | +2471.5% | $2.80B | 5 |
| Next quarter (ends 2026-12-31) | $-0.17 | $0.18 | -196.0% | $2.86B | 6 |
| Current fiscal year (ends 2026-12-31) | $-1.17 | $-0.58 | +102.7% | $11.45B | 5 |
| Next fiscal year (ends 2027-12-31) | $-0.52 | $0.11 | -571.8% | $11.53B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-10-28): ±25.9%; last 8 reports averaged ±16.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 66.9% | ±25.9% |
| 2027-01-15 | 84 | 89.3% | ±34.4% |
| 2027-03-19 | 147 | 71.4% | ±36.1% |