Auna S.A. Sees Strong Gains From Peru: More Upside on the Horizon

Auna S.A.’s AUNA Peru business underscores the strength and predictability of its integrated healthcare model operating at scale. The segment remained a bright spot in the fourth quarter of 2025, with revenues increasing 11% year over year. This was driven by growth in high complexity services that lifted the average ticket, along with higher volumes from investments in new medical equipment, expanded bed capacity and targeted marketing initiatives.

Peru’s adjusted EBITDA rose 14% in the quarter, with the margin reaching 22.4%, up 0.7 percentage points from the fourth quarter of 2024.

On the health plan side, Oncosalud revenues increased 10%, supported by a 4% rise in planned memberships and annual price adjustments. A combination of higher tickets and continued moderation in pharmaceutical costs led to another quarter of record-low oncology MLR, reaching 48.5%. With continued penetration in Peru's healthcare market and expanding relationships, management expects this segment of the company’s regional platform to remain an important growth driver in the coming periods.

The company is now prioritizing more growth in mid-segment markets, as well as risk-sharing with private and public payors. Earlier this month, Auna S.A. finalized an addendum to its existing Public-Private Partnership agreement with EsSalud, enabling the start of the construction phase of the Torre Trecca project in Lima. This marks an important milestone for Auna S.A. and aligns with its AunaWay strategy to expand access to high-quality, sustainable healthcare throughout Latin America. The company’s partnership with EsSalud — Peru’s largest payor and provider — also significantly expands its addressable market in the country.

AUNA’s Peer Updates

Lumexa Imaging Holdings, Inc. ARDT has announced certain preliminary unaudited financial results for the fourth quarter and full-year ended Dec. 31, 2025. Consolidated revenues are expected to be at least $261 million, up from $248.0 million in the year-ago quarter. Lumexa Imaging forecasts adjusted EBITDA of at least $63 million, an increase from $53.7 million year over year. During the year, the company opened nine de novo centers, including six wholly owned and three centers through joint ventures, and completed the acquisition of one site.

The Pennant Group, Inc. PNTG delivered $289.3 million in revenues in the fourth quarter of 2025, up 53.2% year over year. Adjusted net income rose 43.1% over the prior-year quarter. On Jan. 1, 2025, the company completed the acquisition of Signature Healthcare at Home in the Pacific Northwest and quickly integrated it into its operating model, which led to significant performance improvement in the year. In October, The Pennant Group made its largest-ever acquisition, purchasing more than 50 locations from UnitedHealth and Amedisys to expand into the Southeast.

The Zacks Rundown for AUNA

Year to date, Auna shares have risen 5.7% against the industry’s 8.3% fall.

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In terms of valuation, Auna S.A. is trading at a forward, 12-month price-to-sales (P/S) of 0.28X, lower than its median and industry average.

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Analysts have been raising earnings estimates for Auna S.A., as the chart shows below.

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AUNA stock sports a Zacks Rank #1 (Strong Buy) at present.You can see the complete list of today’s Zacks #1 Rank stocks here.

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