Where NUTX sits among all investable US stocks
Cheapness against five-year return on assets, as percentiles. Upper left is cheaper with higher returns; larger dark dots are its industry (Patient Care).
Nutex is cheap and generates cash, but profit rests on lower arbitration costs, and only buybacks, not a bid or activist, could close the gap.
Nutex Health runs 27 hospital facilities in 12 states. Its shares are down 74.8% over five years, while peers rose 0.2%, the health care sector fund 50.7% and the S&P 500 76.9%. The stock jumped 14.3% on Wednesday, November 4, with no news found, and Q2 profit surged as arbitration costs fell. The question is whether that profit lasts. The numbers say cheap, but only buybacks are live.
The last five years on the numbers
Where NUTX has ranked among investable US stocks each quarter since 2021. Hollow dot: five years ago; solid dot: the latest quarter. The share price over the same years is in the five-year record below.
Cheap on price and cash, but on weaker five-year returns.
4.7× EV to operating income, 2nd percentile of US stocks, cheapest of 39 in industry; 5-yr return on assets only 27th percentile. Earnings yield 21.4% vs 4.9% Treasury; FCF yield 18.9% (95th); net debt $253M.
Against the market, its industry and sector
NUTX as a percentile of all 3,202 investable US stocks, against the 39 in Patient Care and the 523 in the Healthcare sector.
| Metric | NUTX | Position | In its industry | Industry median | Sector median |
|---|---|---|---|---|---|
| Acquirer's Multiple | 2nd | The cheapest of 39 | 45th | 82nd | |
| Free cash flow yield | 95th | #2 of 39 | 58th | 25th | |
| Shareholder yield | 69th | #11 of 39 | 38th | 23rd | |
| Dividend yield | 26th | #11 of 39 | 26th | 26th | |
| Return on assets, 5-yr avg | 27th | #27 of 39 | 34th | 20th | |
| Debt to book equity | 60th | #16 of 39 | 71st | 34th | |
| Market cap | 36th | #28 of 39 | 48th | 40th |
Percentiles of the number itself. For the Acquirer's Multiple and debt to equity, lower is better: the 5th percentile on the multiple is cheaper than 95% of investable US stocks. Green is the better end, red the worse. Orange dot: NUTX; bar: industry median; diamond: sector median. Data as of 2026-10-31.
Price v Return
What the shares and assets earn, against the 10-year Treasury.
Its industry against its own history
Patient Care report →Patient Care's Acquirer's Multiple sits at the 45th percentile, cheaper than in 27% of quarters since 1999 (dearer than usual). Return on assets, 34th percentile, is weaker than usual; free cash flow yield, 56th percentile, is usual.
| Metric | Percentile now | Usual range | Against its history | Last 10 years |
|---|---|---|---|---|
| Acquirer's Multiple | 45th | 23rd–53rd | Dearer than usual | |
| Free cash flow yield | 56th | 46th–76th | Usual range | |
| Shareholder yield | 41st | 31st–49th | Usual range | |
| Dividend yield | 26th | 24th–30th | Usual range | |
| Return on assets, 5-yr | 34th | 26th–59th | Weaker than usual | |
| Debt to equity | 71st | 53rd–71st | Most debt on record | |
| Company size | 47th | 32nd–53rd | Larger than usual |
The industry's median stock as a percentile of all investable US stocks on each number. For the Acquirer's Multiple and debt to equity, lower is better: the 10th percentile is cheaper than 90% of the market. For yields, returns and size, higher is bigger. Usual range covers the middle 80% of quarters since 1999; it's the shaded band in each chart. Each chart is zoomed to its own range (the numbers on the left): green shading marks the metric's better side and red its worse side, the dashed line is the 50th percentile, and the dot is today, coloured by where it sits.
Only buybacks are live; no activist, bid or sale process found.
Buyback authorization of $25.0 million was used in 2026; shares repurchased and retired totalled 312,743 in H1, partly via settlements. Activism and takeover: nothing found; Section 203 and the founder's stake weigh against a bid.
Catalyst check
Likelihood of a catalyst: ModerateBuybacks are the only live signal, and they aim to offset dilution; research found no activist, bid or sale process.
Earnings may not last, and a founder holds a large stake.
Arbitration cost fell to $(12.5) million from $48.0 million, driving the profit jump. Trailing return on assets is 37.8%; five-year average, 27th percentile. Founder Vo holds a large stake; Section 203 applies.
Value-trap check
Grades miss that Q2 profit leaned on lower arbitration costs and out-of-network claims outcomes, so trailing operating income may not repeat.
The slump is Nutex's own: every turning point was company-driven.
Shares fell 74.8% over five years; peers +0.2%, sector fund +50.7%, S&P 500 +76.9%. Dilution, Nasdaq bid-price notices and reverse splits drove the falls. Every turning point is attributed to the company.
Five years of moves
NUTX −74.8% since 2021-10-26, against the median of ACHC, SGRY, THC, UHS +0.2%, Health Care (XLV) +50.7% and the S&P 500 (SPY) +76.9%. Numbered dots mark inflections (peaks and troughs); shaded bands mark divergences from the sector or market.
What drove each turning point
| # | Turning point | NUTX | Peers | Sector | S&P 500 | Driver |
|---|---|---|---|---|---|---|
| 1 | Peak · 2022-05-27 → 2022-07-15 | −74.2% | −16.2% | −2.4% | −6.9% | Company |
| Not among the most significant turning points; not researched. | ||||||
| 2 | Peak · also −83.1% vs sector · 2022-08-19 → 2022-10-21 | −83.8% | −22.6% | −4.4% | −11.0% | Company |
| The sell-off accelerated after an Oct. 1 lockout ended for insiders from the Clinigence merger. Shares fell 83.8% against peers −22.6%, sector −4.4%: company-driven. fool.com | ||||||
| 3 | Trough · 2022-10-21 → 2022-12-09 | +231.2% | +11.4% | +9.0% | +5.1% | Company |
| No source ties the low to an event. The Nov. 28 jump had no company announcement; Q3 showed a $408.5 million impairment. Shares rose 231.2% against peers +11.4%: company-driven. fool.com | ||||||
| 4 | Peak · 2022-12-09 → 2023-10-27 | −91.3% | −7.4% | −9.3% | +6.1% | Company |
| The Dec. 6 rise had no company announcement; Motley Fool floated a buyout rumor or short squeeze. Shares then fell 91.3% against peers −7.4%: company-driven. fool.com | ||||||
| 5 | Divergence vs market · 2022-12-23 → 2023-10-06 | −90.9% | −3.0% | −3.3% | +13.4% | Company |
| A $100 million pre-paid advance with Yorkville on Apr. 11, 2023 and a May 22 Nasdaq bid-price notice came in the window. Shares fell 90.9% as peers fell 3.0%: company-driven. nutexhealth.com (1300 days ago); SEC filing | ||||||
| 6 | Peak · also −89.9% vs market · 2023-11-03 → 2024-07-05 | −87.0% | +17.9% | +14.7% | +28.9% | Company |
| Nasdaq gave until May 20, 2024 to cure its bid price; a reverse split was announced in April 2024. Shares fell 87.0% as peers rose 17.9%: company-driven. SEC filing; investorplace.com (773 days ago) | ||||||
| 7 | Trough · also +397.0% vs market · 2024-07-05 → 2024-09-13 | +401.8% | +25.9% | +8.1% | +1.3% | Company |
| A 1-for-10 reverse split took effect July 3, 2024, bid-price compliance returned, and arbitration claims began in July. Shares rose 401.8% as peers rose 25.9%: company-driven. stocktitan.net; foragerfunds.com (573 days ago); stocktitan.net (826 days ago) | ||||||
Prices: daily closes. Peers chosen by the AI analyst as the closest US-listed businesses. Moves are over each window: for a peak or trough, the move that followed it. Driver is Company, Sector or Market; see Definitions below.
Every report on NUTX
Each AI analyst report as it was published, with the share price that day and the move since (today $205.22). Past performance is not a guide to the future.
| Report | Price then | Since | What it said |
|---|---|---|---|
| Nov 4, 2026Latest | $205.22 | +0.0% | Buybacks are the only live catalyst at Nutex, trading at 4.7× operating income · Catalyst: Moderate |
| Nov 3, 2026 | $179.58 | ▲ +14.3% | Cheap at 4.2× operating income with a 21.6% cash yield, but no live catalyst · Catalyst: Moderate |
| Nov 2, 2026 | $185.60 | ▲ +10.6% | Buyback authorized at a hospital operator trading at 4.3× operating income · Catalyst: Moderate |
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Definitions
- Acquirer's Multiple®
- Enterprise value ÷ operating income (trailing 12 months). What an acquirer would pay for the whole business against what it earns before interest and tax. Lower is cheaper.
- Enterprise value
- Market cap at today's price, plus debt, preferred stock and minority interests, less cash.
- Operating income
- Trailing 12 months, after depreciation and amortization.
- Operating earnings yield
- Operating income ÷ enterprise value: the Acquirer's Multiple turned upside down.
- Free cash flow yield
- Trailing 12-month free cash flow (cash from operations less capital spending) ÷ market cap.
- Shareholder yield
- Trailing 12-month dividends plus net buybacks (shares bought back less shares issued) ÷ market cap. Dividend yield and buyback yield are its two parts.
- Return on assets
- Trailing 12-month operating income ÷ total assets at the latest quarter.
- Net debt : market cap
- Debt less cash, as a share of market cap. Negative means net cash.
- E(r)
- Expected annual return if the Acquirer's Multiple doesn't change. It has three parts: return on assets (what the business earns on what it owns); incremental growth (return on assets × the reinvestment rate, where the reinvestment rate is five-year average capital spending ÷ five-year average total assets: what reinvested capital adds); and shareholder yield (what is paid out through dividends and buybacks). E(r) = return on assets × (1 + reinvestment rate) + shareholder yield.
- 10-year Treasury
- The latest monthly 10-year US Treasury yield, the risk-free rate the yields are compared with.
- Percentiles
- Where the stock sits among investable US stocks (price above $3, market cap above $75M, average daily trading above $850,000, no ADRs or MLPs), updated each week. Each is the percentile of the number itself: for the Acquirer's Multiple (here EBIT ÷ enterprise value) and debt (total debt ÷ book equity), lower is better; for yields, five-year average return on assets and market cap, higher is bigger. Stocks outside the investable set, such as ADRs, are placed against it.
- Industry and sector
- FactSet RBICS industry. Industry and sector medians are the middle investable stock's percentile. Industry history is that median each quarter since 1999; the usual range is the middle 80% of quarters.
- Turning points
- Inflection points are the peaks and troughs where the stock's trend reversed by about 25% or more on weekly closes; each is compared over the move that followed. Divergences are stretches where the stock pulled away from its sector fund or the S&P 500 by about 20% or more. Each is set against its peers' median, its sector fund and the S&P 500 over the same window. Driver: Market if the market moved with it (same way, at least half as far) and so did its peers or sector; Sector if only its peers or sector did; Company otherwise.
- Value-trap grades
- Return on assets: Strong at 10% or more, Mixed at 5% or more. Net debt : market cap: Strong at 30% or less, Mixed at 100% or less. Free cash flow yield: Strong at 10% or more, Mixed at 5% or more. Shareholder yield: Strong at 8% or more, Mixed at 3% or more.