We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's Shaping Auna S.A.'s Positive EBITDA Target in 2026?
Read MoreHide Full Article
Key Takeaways
Auna S.A. targets 12% FX-neutral EBITDA growth despite a Q4 2025 decline and mixed segment performance.
AUNA sees Mexico rebound with leadership changes, network expansion and ISSSTELEON plan extension.
Auna S.A. strengthens capital structure via $825M refinancing, cutting costs and boosting cash flow 35%.
In the fourth quarter of 2025, Auna S.A. (AUNA - Free Report) saw its adjusted EBITDA decline 14% in FX neutral, with the margin contracting 4.5 percentage points to 19.5%. Performance of all segments was mixed, with adjusted EBITDA in Peru operations increasing 14% in local currency, on higher demand and tickets for hospital network services, as well as higher tickets for memberships.
Colombia’s Adjusted EBITDA declined 25%, reflecting a higher share of risk-sharing contracts and the impact of extraordinary revenues and rebates recognized in the prior-year quarter, which created an unfavorable comparison. For Mexico, it was a sharp 36% decline, mainly due to lower revenues and a higher cost of treatments and service mix through the 2025 ISSSTELEON healthcare plan. Adjusted EBITDA also decreased due to organizational overhaul during 2025, including payroll expenses related to talent and administrative expenses related to SAP licenses and the systems implementation at Doctors Hospital.
Against the backdrop of expected market conditions, along with a stronger position in Mexico and a strengthened capital structure, Auna expects adjusted EBITDA to increase 12% FX-neutral.
After a stabilizing year, Mexico operations are moving toward sustained top-line and EBITDA growth. Under a strengthened Mexican leadership team, Auna’s hospital network has gained inclusion in preferred provider tiers serving the broader parts of the privately insured market. Various packaged service offerings are being rolled out to better penetrate key market segments, particularly the Out-of-Pocket segment. The company was also awarded an extension of an improved ISSSTELEON healthcare plan. Oncology growth initiatives are likely to gain further traction as Oncocenter continues to be integrated into the healthcare network.
Auna’s free cash flow rose 35% over 2024. The company also completed the $825 million refinancing that has reduced interest expenses, extended its maturity profile, lowered short-term debt exposure and increased the proportion of direct local currency funding.
Updates From AUNA’s Industry Peers: BTSG & ELV
BrightSpring Health Services, Inc. (BTSG - Free Report) recently completed the sale of ResCare Community Living to Sevita, a provider of home and community-based specialty health care. The definitive agreement for the sale was first announced in January 2025. The transition represents a new phase for both companies, allowing each to focus on its strategic direction while maintaining continuity of care, operational stability and long-term opportunities for individuals with intellectual and developmental disabilities.
Elevance Health (ELV - Free Report) reported first-quarter 2026 results on April 22. Consolidated operating revenues came in at $49.5 billion, up 1.5% year over year, driven by higher premium yields in the Health Benefits segment and growth in CarelonRx product revenues. A higher medical cost trend in its Medicaid business led to a 40-basis-point increase in its benefit expense ratio to 86.8%.
View the Zacks #1 Rank List
Image: Bigstock
What's Shaping Auna S.A.'s Positive EBITDA Target in 2026?
Key Takeaways
In the fourth quarter of 2025, Auna S.A. (AUNA - Free Report) saw its adjusted EBITDA decline 14% in FX neutral, with the margin contracting 4.5 percentage points to 19.5%. Performance of all segments was mixed, with adjusted EBITDA in Peru operations increasing 14% in local currency, on higher demand and tickets for hospital network services, as well as higher tickets for memberships.
Colombia’s Adjusted EBITDA declined 25%, reflecting a higher share of risk-sharing contracts and the impact of extraordinary revenues and rebates recognized in the prior-year quarter, which created an unfavorable comparison. For Mexico, it was a sharp 36% decline, mainly due to lower revenues and a higher cost of treatments and service mix through the 2025 ISSSTELEON healthcare plan. Adjusted EBITDA also decreased due to organizational overhaul during 2025, including payroll expenses related to talent and administrative expenses related to SAP licenses and the systems implementation at Doctors Hospital.
Against the backdrop of expected market conditions, along with a stronger position in Mexico and a strengthened capital structure, Auna expects adjusted EBITDA to increase 12% FX-neutral.
After a stabilizing year, Mexico operations are moving toward sustained top-line and EBITDA growth. Under a strengthened Mexican leadership team, Auna’s hospital network has gained inclusion in preferred provider tiers serving the broader parts of the privately insured market. Various packaged service offerings are being rolled out to better penetrate key market segments, particularly the Out-of-Pocket segment. The company was also awarded an extension of an improved ISSSTELEON healthcare plan. Oncology growth initiatives are likely to gain further traction as Oncocenter continues to be integrated into the healthcare network.
Auna’s free cash flow rose 35% over 2024. The company also completed the $825 million refinancing that has reduced interest expenses, extended its maturity profile, lowered short-term debt exposure and increased the proportion of direct local currency funding.
Updates From AUNA’s Industry Peers: BTSG & ELV
BrightSpring Health Services, Inc. (BTSG - Free Report) recently completed the sale of ResCare Community Living to Sevita, a provider of home and community-based specialty health care. The definitive agreement for the sale was first announced in January 2025. The transition represents a new phase for both companies, allowing each to focus on its strategic direction while maintaining continuity of care, operational stability and long-term opportunities for individuals with intellectual and developmental disabilities.
Elevance Health (ELV - Free Report) reported first-quarter 2026 results on April 22. Consolidated operating revenues came in at $49.5 billion, up 1.5% year over year, driven by higher premium yields in the Health Benefits segment and growth in CarelonRx product revenues. A higher medical cost trend in its Medicaid business led to a 40-basis-point increase in its benefit expense ratio to 86.8%.
AUNA Stock: Price Performance, Valuation & Estimates
Year to date, Auna shares have risen 4.4% against the industry’s 11.3%% decline but matched the S&P 500 composite.
Image Source: Zacks Investment Research
Auna is trading at a forward, two-year, price-to-sales (P/S) of 0.28X, lower than its median and industry average.
Image Source: Zacks Investment Research
Projections for Auna’s 2026 and 2027 earnings have remained constant in the past 60 days.
Image Source: Zacks Investment Research
AUNA carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.