Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Authors: Warren Buffett & Charlie Munger Summary view: A capable operator in a structurally difficult industry, run by a founding family whose interests do not always coincide with outside shareholders'. Decent recent results, a stretched balance sheet, an unresolved sexual-abuse litigation tail at a behavioral facility, and a dual-class share structure leave us unable to call this a "wonderful business." Price is reasonable, but as Charlie likes to say, "a fair price for an average business is still an average business." Universal Health Services is the largest investor-owned operator of behavioral health facilities in the United States and one of the larger investor-owned operators of acute care hospitals. The company traces back to 1979, when Alan B. Miller founded it after departing American Medicorp.
Recent filings analysed: 8-K (2026-07-28), 8-K (2026-07-21), 8-K (2026-05-22), 8-K (2026-05-21).
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