Charlotte, N.C.-based Advocate Health recorded an operating income of $1.5 billion (4% operating margin) in 2025, up from an operating income of $1.2 billion (3.5% margin) in 2024, according to its April 8 financial report.
The health system reported total operating revenue of $38.9 billion for the 12 months ended Dec. 31, up from $34.8 billion during the same period last year. Patient service revenue totaled $32.7 billion, up from $29.2 billion.
Total operating expenses were $37.4 billion in 2025, up from $33.6 billion in 2024. Salaries, wages and benefits totaled $21 billion, up from $19.2 billion. Supply and drug costs were $8.7 billion, up from $7.4 billion. Purchased services and other expenses totaled $6.1 billion, up from $5.5 billion.
Advocate Health reported a net income of $4.6 billion, up from $2.9 billion.
The system formed in December 2022 through the merger of Advocate Aurora Health and Atrium Health. Here is a breakdown of the health system’s results by division in 2025:
Advocate Aurora Health
Revenue: $18.2 billion
Expenses: $17.7 billion
Operating income: $579.7 million
Net income: $2.2 billion
Atrium Health Wake Forest Baptist
Revenue: $6.1 billion
Expenses: $5.8 billion
Operating income: $319 million
Net income: $657.5 million
The Charlotte-Mecklenburg Hospital Authority Combined Group
Revenue: $11.7 billion
Expenses: $11 billion
Operating income: $708 million
Net income: $1.7 billion
