New York City-based NYU Langone reported an operating income of $431.4 million (3% margin) for the fiscal year ending Aug. 31, compared with a $358.8 million gain (2.9% margin) in fiscal 2023, according to financial documents published Nov. 18.
NYU Langone Health recorded total revenue of $14.2 billion: 30.8% from inpatient operations; 28.1% from outpatient operations; 19.1% from faculty group practice patient services; and 22% from other sources. Total revenue increased by $1.8 billion or by 14.2% year over year.
Total operating expenses were $13.7 billion: 60.1% salaries and benefits; 32.3% pharmaceutical, medical, and other supplies; 6.0% depreciation and amortization; and 1.6% interest. Total expenses increased by $1.7 billion or 14% year over year.
Days cash on hand for NYU Langone decreased to 144 days on Aug. 31, 2024, compared to 164 days on Aug. 31, 2023. The decrease was primarily driven by capital expenditures to support strategic capital investments.
Net income for fiscal 2024 was $890.5 million, compared to $1.3 billion in fiscal 2023.