Tenet Healthcare
THC
259.83
+1.36
+0.53%
Tenet Healthcare
US · THC
#905 by market cap
Listed 1970
259.83
+1.36
+0.53%
Live - 5344 symbols - heartbeat 138s ago
· 2026-10-08 07:39
Pre-market
259.83
0.00%
After-hours
259.45
-0.15%
- Market cap
- 20.92B
- P/E (TTM)i
- 10.04
- P/Bi
- 4.49
- EPSi
- 15.49
- Div yieldi
- 0.00%
- 52W posi
- 81%
Reader sentiment
Are you bullish or bearish on THC?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Fair
- Altman Z-Score is 2.05, in the 1.8-3.0 "grey zone".
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +3.07% YoY
Margins
- Gross margin
- 82.26%
- Operating margin
- 16.14%
- Net margin
- 6.60%
Key ratios & quality
- Enterprise valuei
- 31.21B
- PEG ratioi
- 0.20
- Altman Z-Scorei
- 2.05
PEG uses trailing P/E against the 3-year net income growth rate (50.71%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18.31B | 18.48B | 17.64B | 19.49B | 19.17B | 20.56B | 20.68B | 21.31B |
| Gross profit | 15.31B | 15.42B | 14.66B | 16.16B | 15.90B | 16.97B | 17.03B | 17.53B |
| Selling & admin expenses | 8.63B | 8.70B | 8.42B | 8.88B | 8.84B | 9.15B | 8.80B | 8.71B |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 1.61B | 1.70B | 2.14B | 2.41B | 2.41B | 2.44B | 2.92B | 3.44B |
| Pretax profit | 629.00M | 320.00M | 671.00M | 1.89B | 1.35B | 1.62B | 5.25B | 2.80B |
| Tax | 173.00M | 160.00M | -97.00M | 411.00M | 344.00M | 306.00M | 1.18B | 433.00M |
| Net profit | 459.00M | 171.00M | 768.00M | 1.48B | 1.00B | 1.31B | 4.06B | 2.37B |
| Basic EPS | 1 | -2 | 4 | 9 | 4 | 6 | 33 | 16 |
| Diluted EPS | 1.00 | -2.08 | 3.75 | 8.42 | 3.79 | 5.71 | 32.70 | 15.49 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | -- | -- | 5.29B | 5.53B | -- | -- |
| Gross profit | 4.32B | 4.34B | 4.36B | 4.52B | 4.82B | 5.06B |
| Selling & admin expenses | 2.12B | 2.16B | 2.20B | 2.22B | 2.17B | 2.23B |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 901.00M | 852.00M | 817.00M | 869.00M | 1.30B | 1.44B |
| Pretax profit | 765.00M | 642.00M | 712.00M | 681.00M | 1.13B | 1.34B |
| Tax | 143.00M | 120.00M | 133.00M | 37.00M | 226.00M | 295.00M |
| Net profit | 622.00M | 522.00M | 579.00M | 644.00M | 906.00M | 1.05B |
| Basic EPS | 4 | 3 | 4 | 4 | 8 | 10 |
| Diluted EPS | 4.27 | 3.14 | 3.86 | 4.22 | 8.01 | 9.84 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 4.64B | 5.08B | 7.15B | 7.08B | 5.98B | 7.17B | 7.68B | 7.85B |
| Cash & ST investments | 411.00M | 262.00M | 2.45B | 2.36B | 858.00M | 1.23B | 3.02B | 2.88B |
| Inventory | 305.00M | 310.00M | 368.00M | 384.00M | 405.00M | 411.00M | 346.00M | 348.00M |
| Total assets | 22.41B | 23.37B | 27.11B | 27.58B | 27.16B | 28.31B | 28.94B | 29.68B |
| Total current liabilities | 3.86B | 4.21B | 4.85B | 5.11B | 4.48B | 4.76B | 4.31B | 4.46B |
| Short-term debt | 182.00M | 171.00M | 145.00M | 135.00M | 145.00M | 120.00M | 92.00M | 79.00M |
| Long-term debt | 14.64B | 14.58B | 15.57B | 15.51B | 14.93B | 14.88B | 13.08B | 13.09B |
| Total liabilities | 20,302,000,000.00 | 21,422,000,000.00 | 24,217,000,000.00 | 23,322,000,000.00 | 22,548,000,000.00 | 22,804,000,000.00 | 20,389,000,000.00 | 20,704,000,000.00 |
| Total equity | 2.11B | 1.94B | 2.89B | 4.26B | 4.61B | 5.51B | 8.55B | 8.97B |
| Retained earnings | -2.24B | -2.51B | -2.13B | -1.21B | -803.00M | -192.00M | 3.01B | 4.42B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 7.91B | 7.30B | 7.81B | 7.85B | 8.36B | 7.83B |
| Cash & ST investments | 3.00B | 2.63B | 2.98B | 2.88B | 2.97B | 2.17B |
| Inventory | 344.00M | 338.00M | 346.00M | 348.00M | 343.00M | 338.00M |
| Total assets | 29.24B | 28.70B | 29.42B | 29.68B | 31.20B | 30.68B |
| Total current liabilities | 4.45B | 4.27B | 4.56B | 4.46B | 6.15B | 5.57B |
| Short-term debt | 88.00M | 84.00M | 85.00M | 79.00M | 81.00M | 160.00M |
| Long-term debt | 13.08B | 13.09B | 13.10B | 13.09B | 13.13B | 13.09B |
| Total liabilities | 20,584,000,000.00 | 20,397,000,000.00 | 20,718,000,000.00 | 20,704,000,000.00 | 22,353,000,000.00 | 21,976,000,000.00 |
| Total equity | 8.65B | 8.30B | 8.70B | 8.97B | 8.85B | 8.70B |
| Retained earnings | 3.41B | 3.70B | 4.04B | 4.42B | 5.12B | 5.94B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.05B | 1.23B | 3.41B | 1.57B | 1.08B | 2.37B | 2.05B | 3.54B |
| Depreciation & amortization | 802.00M | 850.00M | 857.00M | 855.00M | 841.00M | 870.00M | 818.00M | 863.00M |
| Free cash flow | 432.00M | 563.00M | 2.87B | 910.00M | 321.00M | 1.62B | 1.12B | 2.53B |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | 0 | -250.00M | -200.00M | -672.00M | -1.39B |
| Ending cash balance | 411.00M | 262.00M | 2.45B | 2.36B | 858.00M | 1.23B | 3.02B | 2.88B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 815.00M | 936.00M | 1.06B | 731.00M | 1.64B | 585.00M |
| Depreciation & amortization | 206.00M | 208.00M | 218.00M | 231.00M | 229.00M | 215.00M |
| Free cash flow | 642.00M | 743.00M | 778.00M | 367.00M | 1.46B | 417.00M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -348.00M | -747.00M | -93.00M | -198.00M | -318.00M | -1.04B |
| Ending cash balance | 3.00B | 2.63B | 2.98B | 2.88B | 2.97B | 2.17B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | -- | -- | -- | 173.11 | 37.88 | 44.44 | 110.75 | 33.54 |
| ROA %i | 0.48 | -1.01 | 1.58 | 3.34 | 1.50 | 2.20 | 11.18 | 4.80 |
| ROIC %i | -- | -- | -- | 10.09 | 6.53 | 8.17 | 22.62 | 12.10 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- | -- | 79.94 |
| EBIT margin %i | 8.97 | 6.93 | 9.49 | 14.43 | 11.65 | 12.25 | 29.39 | 16.99 |
| FCF / sales %i | 2.36 | 3.05 | 16.25 | 4.67 | 1.67 | 7.90 | 5.40 | 11.87 |
| Current ratioi | 1.20 | 1.21 | 1.47 | 1.38 | 1.34 | 1.51 | 1.78 | 1.76 |
| Quick ratioi | 0.78 | 0.72 | 1.06 | 1.23 | 1.10 | 1.10 | 1.54 | 1.51 |
| Debt / assetsi | 66.16 | 63.13 | 57.99 | 56.73 | 55.53 | 52.99 | 45.52 | 44.38 |
| LT debt / equityi | -- | -- | 55,621.43 | 1,508.85 | 1,307.71 | 925.50 | 313.62 | 310.24 |
| Interest coveragei | 1.64 | 1.30 | 1.67 | 3.05 | 2.51 | 2.79 | 7.35 | 4.41 |
| Revenue CAGR (3Y) %i | -0.58 | -1.98 | -2.75 | 2.09 | 1.24 | 5.25 | 2.00 | 3.58 |
| Net income CAGR (3Y) %i | -- | -- | -- | 106.37 | -- | 15.26 | 51.85 | 50.71 |
| FCF CAGR (3Y) %i | 32.91 | -- | 79.83 | 28.19 | -17.08 | -17.28 | 7.04 | 99.01 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 38.12 | 41.09 | 34.51 | 33.54 | 37.87 | 53.31 |
| ROA %i | 5.00 | 5.12 | 4.61 | 4.80 | 5.64 | 7.55 |
| ROIC %i | 12.51 | 12.86 | 11.98 | 12.10 | 13.52 | 16.74 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 18.23 | 18.37 | 17.24 | 16.99 | 18.24 | 20.70 |
| FCF / sales %i | 6.88 | 7.51 | 7.21 | 11.87 | 15.31 | 13.35 |
| Current ratioi | 1.78 | 1.71 | 1.71 | 1.76 | 1.36 | 1.41 |
| Quick ratioi | 1.53 | 1.48 | 1.48 | 1.51 | 1.19 | 1.22 |
| Debt / assetsi | 45.05 | 45.91 | 44.83 | 44.38 | 42.33 | 43.19 |
| LT debt / equityi | 312.89 | 349.19 | 326.41 | 310.24 | 272.70 | 280.98 |
| Interest coveragei | 4.61 | 4.66 | 4.39 | 4.41 | 4.85 | 5.71 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Hospital operations is the largest reported line at 70.19% of revenue, across 3 reported segments.
- The next-largest line, Ambulatory Care, is a distant second at 22.98% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Hospital operations70.19%
Ambulatory Care22.98%
Revenue from contract termination6.84%
Quote time 2026-10-08 07:39:15 · For reference only, not investment advice and not tailored to your situation.