Net income rebounded across the hospital industry in 2025, with many of the country’s largest health systems posting strong gains driven by investment returns, improved operating margins and a recovery in patient volumes following years of post-pandemic financial pressure.
But the results were uneven. Several systems remained in the red, weighed down by operating losses, rising labor costs and the lingering effects of unfavorable payer mix.
Here are 66 health systems ranked by net income:
Editor’s note: This is not an exhaustive list. To be included, please reach out to Alan Condon at acondon@beckershealthcare.com with your health system’s latest financial results. The following financial results are for the 12 months ending Dec. 31, 2025, unless otherwise stated. Figures displayed in parentheses represent net losses.
1. Kaiser Permanente (Oakland, Calif.): $9.3 billion
2. HCA Healthcare (Nashville, Tenn.): $6.8 billion
3. Mayo Clinic (Rochester, Minn.): $5.2 billion
4. Advocate Health (Charlotte, N.C.): $4.6 billion
5. AdventHealth (Altamonte Springs, Fla.): $4.1 billion
6. Baylor Scott & White Health (Dallas): $2.7 billion
*Results for the fiscal year ending June 30, 2025
7. Intermountain Health (Salt Lake City): $2.6 billion
8. Mass General Brigham (Somerville, Mass.): $2.4 billion
*Results for the 12 months ending Sept. 30, 2025
9. Cleveland Clinic: $2.3 billion
10.University of California Health (Oakland): $2.2 billion
*Results for the 12 months ending June 30, 2025
11. Inova Health System (Falls Church, Va.): $2 billion
12. Sutter Health (Sacramento, Calif.): $1.9 billion
13. Sentara Health (Norfolk, Va.): $1.7 billion
14. CommonSpirit Health (Chicago): $1.6 billion
*Results for the 12 months ending June 30, 2025
15. Universal Health Services (King of Prussia, Pa.): $1.5 billion
16. Banner Health (Phoenix): $1.5 billion
17. RWJBarnabas Health (West Orange, N.J.): $1.5 billion
18. Tenet Healthcare (Dallas): $1.4 billion
19. Northwestern Medicine (Chicago): $1.4 billion
*Results for the 12 months ending Aug. 31, 2025
20. BayCare Health System (Clearwater, Fla.): $1.4 billion
21.Trinity Health (Livonia, Mich.): $1.3 billion
*Results for the 12 months ending June 30, 2025
22. Corewell Health (Southfield, Mich.): $1.3 billion
23. Hackensack Meridian Health (Edison, N.J.): $1.3 billion
24. Novant Health (Winston-Salem, N.C.): $1.2 billion
25. Indiana University Health (Indianapolis): $1.2 billion
26. Stanford Health Care (Palo Alto, Calif.): $1.2 billion
*Results for the 12 months ending Aug. 31, 2025
27. Piedmont Healthcare (Atlanta): $1.2 billion
*Results for the 12 months ending June 30, 2025
28. Bon Secours Mercy Health (Cincinnati): $1.1 billion
29. BJC Health System (St. Louis): $1.1 billion
30. Sanford Health (Sioux Falls, S.D.): $1.1 billion
31.Ascension (St. Louis): $918 million
*Results for the 12 months ending June 30, 2025
32. Northwell Health (New Hyde Park, N.Y.): $810 million
33. NYU Langone (New York City): $731 million
*Results for the fiscal year ending Aug. 31, 2025
34. Orlando Health (Orlando, Fla.): $728 million
*Results for the 12 months ending Sept. 30, 2025
35. Duke University Health System (Durham, N.C.): $647 million
*Results for the 12 months ending June 30, 2025
36. UPMC (Pittsburgh): $635.4 million
37. Scripps Health (San Diego): $634 million
*Results for the 12 months ending Sept. 30, 2025
38. Henry Ford Health (Detroit): $544 million
39. MedStar Health (Columbia, Md.): $542 million
*Results for the 12 months ending June 30, 2025
40. Community Health Systems (Franklin, Tenn.): $509 million
41. SSM Health (St. Louis): $484 million
42. University Hospitals (Cleveland): $466 million
43. Vanderbilt University Medical Center (Nashville, Tenn.): $434 million
*Results for the 12 months ending June 30, 2025
44. Beth Israel Lahey Health (Cambridge, Mass.): $376 million
*Results for the 12 months ending Sept. 30, 2025
45. Norton Healthcare (Louisville, Ky.): $338 million
46. Sharp HealthCare (San Diego): $306 million
*Results for the 12 months ending Sept. 30, 2025
47. Mercy Health (Chesterfield, Mo.): $303 million
*Results for the 12 months ending June 30, 2025
48. Community Health Network (Indianapolis): $282 million
49. Christus Health (Irving, Texas): $262 million
*Results for the 12 months ending June 30, 2025
50. ProMedica (Toledo, Ohio): $261 million
51. Mount Sinai Health System (New York City): $260 million
52. Essentia Health (Minneapolis): $241 million
*Results for the 12 months ending June 30, 2025
53. University of Chicago Health System: $225 million
*Results for the 12 months ending June 30, 2025
54. OSF HealthCare (Peoria, Ill.): $186 million
*Results for the 12 months ending Sept. 30, 2025
55. HonorHealth (Scottsdale, Ariz.): $178 million
56. Ardent Health (Brentwood, Tenn.): $136 million
57. Allegheny Health Network (Pittsburgh): $134 million
58. Allina Health (Minneapolis): $124 million
59. University of Michigan Health (Ann Arbor): $60.3 million
*Results for the 12 months ending June 30, 2025
60. Oregon Health & Science University (Portland): $58 million
*Results for the 12 months ending June 30, 2025
61. Adventist Health (Roseville, Calif.): $54 million
62. Tufts Medicine (Boston): ($52 million)
*Results for the 12 months ending Sept. 30, 2025
63. Montefiore (New York City): ($56 million)
64. Legacy Health (Portland): ($71 million)
*Results for the 12 months ending March 31, 2025
65. Providence (Renton, Wash.): ($238 million)
66. Presbyterian Healthcare Services (Albuquerque, N.M.): ($334 million)
Editor’s note: This article was updated May 19 at 11:00 a.m. CT.
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