THC

+ Watchlist + Portfolio

Tenet Healthcare Corp.

GridBrain — Sign in

GridSentinel — Sign in

GridAegis — Sign in

Key Metrics

Previous Close: $268.52
52-Week Range: $157.58 – $277.76
Market Cap: $21.95B
P/E (TTM): 10.54
EPS (TTM): 25.86
Dividend Yield: —

Advanced Metrics

Price/Book: 4.71
PEG Ratio: 1.96
Return on Equity: 37.34%
Return on Assets: 8.32%
Gross Margin: 41.66%
Operating Margin: 18.16%
Profit Margin: 10.27%
Current Ratio: 1.41
Debt/Equity: 1.52
Total Debt: $13.25B
Free Cash Flow: $2.25B
Revenue Growth: 6.80%
Earnings Growth: 213.40%
Enterprise Value: $37.07B

THC Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$19.17B	$20.56B	$20.68B	$21.31B
Cost of Revenue	$3.27B	$3.59B	$3.65B	$3.78B
Gross Profit	$15.90B	$16.97B	$17.03B	$17.53B
Selling, General & Admin	$8.84B	$9.15B	$8.80B	$8.71B
Operating Expenses	$13.49B	$14.53B	$14.11B	$14.09B
Operating Income	$2.41B	$2.44B	$2.92B	$3.44B
EBITDA	$3.08B	$3.39B	$6.89B	$4.48B
Pretax Income	$1.34B	$1.62B	$5.25B	$2.80B
Income Tax	$344.00M	$306.00M	$1.18B	$433.00M
Net Income	$411.00M	$611.00M	$3.20B	$1.41B
Diluted EPS	3.79	5.71	32.70	15.49
Diluted Shares	110.52M	104.80M	97.88M	90.83M

THC Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$858.00M	$1.23B	$3.02B	$2.88B
Receivables	$4.09B	$3.99B	$3.62B	$3.85B
Inventory	$405.00M	$411.00M	$346.00M	$348.00M
Current Assets	$5.98B	$7.17B	$7.68B	$7.85B
Total Assets	$27.16B	$28.31B	$28.94B	$29.68B
Current Liabilities	$4.48B	$4.76B	$4.31B	$4.46B
Long-Term Debt	$14.93B	$14.88B	$13.08B	$13.09B
Total Debt	$15.08B	$15.00B	$13.17B	$13.17B
Total Liabilities	$22.55B	$22.80B	$20.39B	$20.70B
Retained Earnings	-$803.00M	-$192.00M	$3.01B	$4.42B
Shareholders' Equity	$1.14B	$1.61B	$4.17B	$4.22B
Working Capital	$1.50B	$2.41B	$3.37B	$3.39B
Net Debt	$14.22B	$13.77B	$10.15B	$10.29B

THC Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.08B	$2.37B	$2.05B	$3.54B
Capital Expenditure	-$762.00M	-$751.00M	-$931.00M	-$1.01B
Free Cash Flow	$321.00M	$1.62B	$1.12B	$2.53B
Depreciation & Amortisation	$841.00M	$870.00M	$818.00M	$863.00M
Stock-Based Compensation	$56.00M	$66.00M	$67.00M	$104.00M
Investing Cash Flow	-$808.00M	-$969.00M	$3.43B	-$1.27B
Financing Cash Flow	-$1.78B	-$1.03B	-$3.69B	—
Share Repurchases	-$250.00M	-$200.00M	-$672.00M	-$1.39B
Net Change in Cash	-$1.51B	$370.00M	$1.79B	-$136.00M

THC Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$5.27B	$5.29B	$5.53B	$5.78B	$6.04B
Cost of Revenue	$932.00M	$931.00M	$1.01B	$961.00M	$984.00M
Gross Profit	$4.34B	$4.36B	$4.52B	$4.82B	$5.06B
Selling, General & Admin	$2.16B	$2.20B	$2.22B	$2.17B	$2.23B
Operating Expenses	$3.49B	$3.54B	$3.65B	$3.52B	$3.62B
Operating Income	$852.00M	$817.00M	$869.00M	$1.29B	$1.44B
EBITDA	$1.06B	$1.14B	$1.12B	$1.57B	$1.76B
Pretax Income	$642.00M	$712.00M	$681.00M	$1.13B	$1.34B
Income Tax	$120.00M	$133.00M	$37.00M	$226.00M	$295.00M
Net Income	$288.00M	$342.00M	$371.00M	$702.00M	$826.00M
Diluted EPS	3.14	3.86	4.22	8.01	9.84
Diluted Shares	91.79M	88.61M	87.92M	87.60M	83.96M

THC Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$2.63B	$2.98B	$2.88B	$2.97B	$2.17B
Receivables	$3.70B	$3.78B	$3.85B	$4.36B	$4.62B
Inventory	$338.00M	$346.00M	$348.00M	$343.00M	$338.00M
Current Assets	$7.30B	$7.81B	$7.85B	$8.36B	$7.83B
Total Assets	$28.70B	$29.42B	$29.68B	$31.20B	$30.68B
Current Liabilities	$4.27B	$4.56B	$4.46B	$6.15B	$5.57B
Long-Term Debt	$13.09B	$13.10B	$13.09B	$13.13B	$13.09B
Total Debt	$13.18B	$13.19B	$13.17B	$13.21B	$13.25B
Total Liabilities	$20.40B	$20.72B	$20.70B	$22.35B	$21.98B
Retained Earnings	$3.70B	$4.04B	$4.42B	$5.12B	$5.94B
Shareholders' Equity	$3.75B	$4.01B	$4.22B	$4.81B	$4.66B
Working Capital	$3.03B	$3.25B	$3.39B	$2.20B	$2.26B
Net Debt	$10.55B	$10.21B	$10.29B	$10.24B	$11.08B

THC Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$936.00M	$1.06B	$731.00M	$1.64B	$585.00M
Capital Expenditure	-$193.00M	-$280.00M	-$364.00M	-$180.00M	-$168.00M
Free Cash Flow	$743.00M	$778.00M	$367.00M	$1.46B	$417.00M
Depreciation & Amortisation	$208.00M	$218.00M	$231.00M	$229.00M	$215.00M
Stock-Based Compensation	$20.00M	$38.00M	$25.00M	$25.00M	$44.00M
Investing Cash Flow	-$314.00M	-$385.00M	-$389.00M	-$317.00M	-$203.00M
Financing Cash Flow	-$996.00M	-$323.00M	-$434.00M	-$1.24B	-$1.18B
Share Repurchases	-$747.00M	-$93.00M	-$198.00M	-$318.00M	-$1.04B
Net Change in Cash	-$374.00M	$350.00M	-$92.00M	$84.00M	-$797.00M

Market Snapshot

About

Tenet Healthcare Corp. operates a diversified healthcare services platform including general hospitals, ambulatory surgery centers, and physician practices. The company provides acute care, surgical services, emergency care, and outpatient services across the United States. Tenet serves communities through owned and operated facilities as well as partnerships with local healthcare providers.