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Side-by-side financial comparison of SELECT MEDICAL HOLDINGS CORP (SEM) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). Click either name above to swap in a different company.
SELECT MEDICAL HOLDINGS CORP is the larger business by last-quarter revenue ($1.4B vs $891.0M, roughly 1.6× ZIONS BANCORPORATION, NATIONAL ASSOCIATION). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 1.4%, a 28.1% gap on every dollar of revenue. On growth, ZIONS BANCORPORATION, NATIONAL ASSOCIATION posted the faster year-over-year revenue change (8.7% vs 6.4%). ZIONS BANCORPORATION, NATIONAL ASSOCIATION produced more free cash flow last quarter ($952.0M vs $5.2M). Over the past eight quarters, ZIONS BANCORPORATION, NATIONAL ASSOCIATION's revenue compounded faster (9.6% CAGR vs 2.8%).
Select Medical is a healthcare company based in Pennsylvania. It owns long-term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
SEM vs ZION — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $891.0M |
| Net Profit | $20.2M | $263.0M |
| Gross Margin | — | — |
| Operating Margin | 4.6% | — |
| Net Margin | 1.4% | 29.5% |
| Revenue YoY | 6.4% | 8.7% |
| Net Profit YoY | 225.7% | 21.8% |
| EPS (diluted) | $0.17 | $1.77 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $891.0M | ||
| Q3 25 | $1.4B | $861.0M | ||
| Q2 25 | $1.3B | $838.0M | ||
| Q1 25 | $1.4B | $795.0M | ||
| Q4 24 | $1.3B | $820.0M | ||
| Q3 24 | $1.3B | $792.0M | ||
| Q2 24 | $1.3B | $777.0M | ||
| Q1 24 | $1.3B | $742.0M |
| Q4 25 | $20.2M | $263.0M | ||
| Q3 25 | $28.8M | $222.0M | ||
| Q2 25 | $40.6M | $244.0M | ||
| Q1 25 | $56.7M | $170.0M | ||
| Q4 24 | $-16.1M | $216.0M | ||
| Q3 24 | $55.6M | $214.0M | ||
| Q2 24 | $77.6M | $201.0M | ||
| Q1 24 | $96.9M | $153.0M |
| Q4 25 | 4.6% | — | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 8.3% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 4.3% | — | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | 9.0% | — |
| Q4 25 | 1.4% | 29.5% | ||
| Q3 25 | 2.1% | 25.8% | ||
| Q2 25 | 3.0% | 29.1% | ||
| Q1 25 | 4.2% | 21.4% | ||
| Q4 24 | -1.2% | 26.3% | ||
| Q3 24 | 4.4% | 27.0% | ||
| Q2 24 | 6.1% | 25.9% | ||
| Q1 24 | 7.3% | 20.6% |
| Q4 25 | $0.17 | $1.77 | ||
| Q3 25 | $0.23 | $1.48 | ||
| Q2 25 | $0.32 | $1.63 | ||
| Q1 25 | $0.44 | $1.13 | ||
| Q4 24 | $-0.12 | $1.34 | ||
| Q3 24 | $0.43 | $1.37 | ||
| Q2 24 | $0.60 | $1.28 | ||
| Q1 24 | $0.75 | $0.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $26.5M | — |
| Total DebtLower is stronger | $1.8B | $1.5B |
| Stockholders' EquityBook value | $1.7B | $7.2B |
| Total Assets | $5.9B | $89.0B |
| Debt / EquityLower = less leverage | 1.06× | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.5M | — | ||
| Q3 25 | $60.1M | — | ||
| Q2 25 | $52.3M | — | ||
| Q1 25 | $53.2M | — | ||
| Q4 24 | $59.7M | — | ||
| Q3 24 | $191.5M | — | ||
| Q2 24 | $111.2M | — | ||
| Q1 24 | $92.6M | — |
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.8B | $970.0M | ||
| Q1 25 | $1.8B | $964.0M | ||
| Q4 24 | $1.7B | $950.0M | ||
| Q3 24 | $3.1B | $548.0M | ||
| Q2 24 | $3.6B | $546.0M | ||
| Q1 24 | $3.8B | $544.0M |
| Q4 25 | $1.7B | $7.2B | ||
| Q3 25 | $1.7B | $6.9B | ||
| Q2 25 | $1.7B | $6.6B | ||
| Q1 25 | $1.7B | $6.3B | ||
| Q4 24 | $1.7B | $6.1B | ||
| Q3 24 | $1.9B | $6.4B | ||
| Q2 24 | $1.4B | $6.0B | ||
| Q1 24 | $1.4B | $5.8B |
| Q4 25 | $5.9B | $89.0B | ||
| Q3 25 | $5.7B | $88.5B | ||
| Q2 25 | $5.7B | $88.9B | ||
| Q1 25 | $5.7B | $88.0B | ||
| Q4 24 | $5.6B | $88.8B | ||
| Q3 24 | $8.0B | $87.0B | ||
| Q2 24 | $7.9B | $87.6B | ||
| Q1 24 | $7.9B | $87.1B |
| Q4 25 | 1.06× | 0.21× | ||
| Q3 25 | 1.03× | 0.21× | ||
| Q2 25 | 1.10× | 0.15× | ||
| Q1 25 | 1.03× | 0.15× | ||
| Q4 24 | 1.01× | 0.16× | ||
| Q3 24 | 1.62× | 0.09× | ||
| Q2 24 | 2.54× | 0.09× | ||
| Q1 24 | 2.75× | 0.09× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $64.3M | $1.1B |
| Free Cash FlowOCF − Capex | $5.2M | $952.0M |
| FCF MarginFCF / Revenue | 0.4% | 106.8% |
| Capex IntensityCapex / Revenue | 4.2% | 13.6% |
| Cash ConversionOCF / Net Profit | 3.19× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | $117.2M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.3M | $1.1B | ||
| Q3 25 | $175.3M | $438.0M | ||
| Q2 25 | $110.3M | $-62.0M | ||
| Q1 25 | $-3.5M | $179.0M | ||
| Q4 24 | $125.4M | $1.1B | ||
| Q3 24 | $181.0M | $119.0M | ||
| Q2 24 | $278.2M | $251.0M | ||
| Q1 24 | $-66.7M | $261.0M |
| Q4 25 | $5.2M | $952.0M | ||
| Q3 25 | $122.2M | $413.0M | ||
| Q2 25 | $45.6M | $-93.0M | ||
| Q1 25 | $-55.8M | $152.0M | ||
| Q4 24 | $62.0M | $1.1B | ||
| Q3 24 | $130.3M | $97.0M | ||
| Q2 24 | $222.6M | $234.0M | ||
| Q1 24 | $-119.2M | $231.0M |
| Q4 25 | 0.4% | 106.8% | ||
| Q3 25 | 9.0% | 48.0% | ||
| Q2 25 | 3.4% | -11.1% | ||
| Q1 25 | -4.1% | 19.1% | ||
| Q4 24 | 4.7% | 128.2% | ||
| Q3 24 | 10.2% | 12.2% | ||
| Q2 24 | 17.4% | 30.1% | ||
| Q1 24 | -9.0% | 31.1% |
| Q4 25 | 4.2% | 13.6% | ||
| Q3 25 | 3.9% | 2.9% | ||
| Q2 25 | 4.8% | 3.7% | ||
| Q1 25 | 3.9% | 3.4% | ||
| Q4 24 | 4.8% | 11.8% | ||
| Q3 24 | 4.0% | 2.8% | ||
| Q2 24 | 4.3% | 2.2% | ||
| Q1 24 | 4.0% | 4.0% |
| Q4 25 | 3.19× | 4.08× | ||
| Q3 25 | 6.09× | 1.97× | ||
| Q2 25 | 2.72× | -0.25× | ||
| Q1 25 | -0.06× | 1.05× | ||
| Q4 24 | — | 5.31× | ||
| Q3 24 | 3.25× | 0.56× | ||
| Q2 24 | 3.59× | 1.25× | ||
| Q1 24 | -0.69× | 1.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
ZION
Segment breakdown not available.
