AUNA 6-K SEC Filing Analysis

Latest settled — T+5d

AUNA ▼ -5.02% at T+5d

NEUTRAL call ✗ call lost -5.02% · α vs SPY -6.26% · entry $4.38 → $4.16

Next anchor: T+20d in 7d

Last close $4.52 (close Jun 8) · +3.20% from $4.38 entry

Entry anchored
May 19, 03:59 PM ET
via Databento tick

T+1d

+0.23%

call +0.23% · α +0.03%

$4.39

settled 21d ago

T+5d

-5.02%

call -5.02% · α -6.26%

$4.16

settled 14d ago

T+20d

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call — · α —

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in 7d

T+60d

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call — · α —

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in 2mo

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Executive Summary

Auna reports 1Q26 revenue growth of 10% FXN / 13% reported YoY to S/1,178 million, but Adjusted EBITDA fell 2% YoY to S/217 million (margin down 2.9pp to 18.4%) due to revenue adjustments and delayed rebates in Peru, and service mix/SG&A costs in Mexico. Net income dropped 75% to S/9 million (EPS S/0.09 vs S/0.48) driven by non-cash FX losses. Operating cash flow rose 65% to S/175 million and free cash flow increased 2.6x, but leverage remained elevated at 3.7x. Management reaffirmed full-year guidance but acknowledged a softer first half was baked in, providing limited conviction on near-term margin recovery.

Actionable Insight

Revenue growth momentum is intact (13% reported, all segments growing double-digit in local currency) but profitability is under pressure from one-time revenue adjustments in Peru and service mix shifts in Mexico. The Mexico sequential improvement (+19% QoQ Adj. EBITDA) is encouraging but needs to sustain to overcome the -14% YoY decline. With leverage at 3.7x and a medium-term target of <3.0x, debt reduction requires continued cash flow strength. The call on May 20 should clarify timing of Peru revenue normalization and Mexico margin recovery. Given strong cash flow but margin degradation, expect stock trading in a range until 2Q26 shows sustained improvement.

Key Facts

Revenue +10% FXN / +13% reported YoY to S/1,178 million (1Q25: S/1,042 million)
Adjusted EBITDA -2% reported / -5% FXN YoY to S/217 million (1Q25: S/222 million); margin 18.4% vs 21.4%
Net income S/9 million vs S/38 million (-75% YoY); EPS S/0.09 vs S/0.48
Operating cash flow +65% YoY to S/175 million (1Q25: S/106 million); free cash flow +2.6x
Mexico Segment Adjusted EBITDA -14% YoY in local currency, but +19% QoQ sequentially; margin 26.4% vs 33.2%
Peru Consolidation Adjusted EBITDA -3% YoY; Healthcare Services Peru Segment Adj. EBITDA -26% YoY, impacted by S/14m revenue adjustments (normal: S/3-4m)
Oncosalud Peru Segment Adj. EBITDA +13% YoY; MLR improved 2.2pp to 54.4%; added ~20,000 lives from Peruvian Judiciary policy
Colombia Segment Adj. EBITDA +7% YoY; payor mix improving (intervened payors 14% vs 19%)
Leverage ratio 3.7x (stable vs 3.6x Dec-25); net debt S/3,407m; gross debt +S/159m QoQ from non-cash FX
Full-year revenue and Adjusted EBITDA guidance reaffirmed; management noted softer H1 was contemplated in guidance

Financial Impact

Revenue S/1,178 million (+10% FXN); Adjusted EBITDA S/217 million (-2% reported); Net income S/9 million (-75%); OCF S/175 million (+65%)

revenueadjusted_ebitda_marginnet_incomeoperating_cash_flowleverage_ratio

Risk Factors

Peru revenue adjustments (S/14m vs normal S/3-4m) may persist if payor enforcement continues
Mexico Adj. EBITDA margin decline of 6.9pp YoY signals structural cost/mix headwinds; QoQ improvement must prove durable
Leverage at 3.7x limits financial flexibility; FX depreciation of PEN adds to debt burden
Non-cash FX losses (S/26m) introduce P&L volatility despite hedging reset; net income swing from one period to the next can be large
Guidance reaffirmation may be viewed skeptically after 2% Adj. EBITDA decline vs market expectations for stabilization

Market Snapshot

Exchange

NYSE

Sector

Services-Offices & Clinics of Doctors of Medicine

Analyst Consensus

79% bullish (14 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
6-K Filing (Primary)	0000950103-26-007438
Document: dp246930_ex9902.htm	0000950103-26-007438
Document: dp246930_6k.htm	0000950103-26-007438
Document: 0000950103-26-007438-index-headers.html	0000950103-26-007438
Document: 0000950103-26-007438-index.html	0000950103-26-007438
Document: 0000950103-26-007438.txt	0000950103-26-007438

5 reports for AUNA

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for AUNA — sortable, filterable
	Type				Now
Jun 2, 2026 8d ago	Insider Cluster NEUTRAL ★ 3/10	$4.50 $4.48	▼ −0.44%	▲ +0.28%	$4.52 (+0.44%)
May 19, 2026 21d ago	6-K MIXED ★ 5/10	$4.38 $4.39	▲ +0.23%	▲ +0.03%	$4.52 (+3.20%)
Apr 22, 2026 6w ago	6-K NEUTRAL ★ 3/10	$5.15 $5.20	▲ +0.97%	▲ +0.19%	$4.52 (−12.23%)
Apr 22, 2026 6w ago	20-F BULLISH ★ 7/10	$5.21 $5.15	▼ −1.15%	▼ −0.76%	$4.52 (−13.24%)
Apr 17, 2026 7w ago	6-K MIXED ★ 5/10	$5.62 $5.52	▼ −1.78%	▼ −1.59%	$4.52 (−19.57%)

US Market Status

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