Tenet Healthcare Corporation
NYSE•THC
CEO: Dr. Saumya Sutaria M.D.
Sector: Healthcare
Industry: Medical - Care Facilities
Listing Date: 1980-03-17
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies. The company also provides intensive and critical care, and/or coronary care units; cardiovascular, digestive disease, neurosciences, musculoskeletal, and obstetrics services; outpatient services, including physical therapy; tertiary care services, such as cardiothoracic surgery, complex spinal surgery, neonatal intensive care, and neurosurgery services; quaternary care services in heart and kidney transplants; and limb salvaging vascular procedure, acute level 1 trauma, intravascular stroke care, minimally invasive cardiac valve replacement, imaging, surgical robotic, and telemedicine access services. In addition, it offers a range of procedures and services, such as orthopedics, total joint replacement, and spinal and other musculoskeletal procedures; gastroenterology; pain management; otolaryngology; ophthalmology; and urology. It operates hospitals, ambulatory surgery centers, imaging centers, surgical hospitals, off-campus emergency departments, and micro-hospitals. Tenet Healthcare Corporation was founded in 1967 and is headquartered in Dallas, Texas.
Contact Information
Market Cap
$16.87B
P/E (TTM)
12.5
16.2
Dividend Yield
--
52W High
$217.43
52W Low
$109.82
52W Range
2.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$5.29B+3.26%
4-Quarter Trend
EPS
$3.89-21.09%
4-Quarter Trend
FCF
$778.00M-7.27%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Nine Month Net Income Net income available to common shareholders reached $1.036B for nine months ended September 30, 2025, USD.
Operating Cash Flow Rises Operating cash flow provided $2.81B in nine months 2025, up $431M from $2.378B provided in 2024, USD.
Strong Earnings Per Share Basic EPS reached $11.37 for nine months 2025; diluted EPS was $11.28 per share, USD.
Capital Returned to Shareholders Executed $1.188B in common stock repurchases during the nine months ended September 30, 2025, USD.
Risk Factors
Operating Margin Compression Nine month operating income margin fell to 16.8% in 2025, down sharply from 32.9% reported in 2024.
Policy Uncertainty Remains OBBBA implementation creates uncertainty regarding future Medicaid funding and reimbursement structures starting 2027.
Hospital Volume Declines Hospital Operations total admissions dropped 6.3% for the quarter, reflecting divestiture impacts and volume softness.
Significant Goodwill Exposure Total goodwill stands at $11.16B as of September 30, 2025, posing potential impairment risk if projections fail.
Outlook
Ambulatory Care Expansion Focus Strategy centers on expanding Ambulatory Care segment through acquisitions and organic growth in service lines.
Hospital Operations Improvement Driving Hospital Operations growth via operational effectiveness and optimizing asset portfolio for higher acuity services.
Anticipated Capital Expenditures Anticipated 2025 capital expenditures are projected between $875M and $975M for facility expansion and technology.
Liquidity Position Strong Credit Agreement fully available at $1.500B; existing cash and borrowing capacity meet current operating needs.
Peer Comparison
Revenue (TTM)
HCA$74.37B
$20.86B
$16.99B
Gross Margin (Latest Quarter)
ACHC96.7%
90.8%
58.3%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| HCA | $119.18B | 18.7 | -161.9% | 77.6% |
| THC | $16.87B | 12.5 | 33.6% | 44.8% |
| UHS | $14.95B | 10.9 | 19.9% | 33.3% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+1.4%
Moderate Growth
4Q Net Income CAGR
+2.5%
Profitability Slowly Improving
Cash Flow Stability
75%
Volatile Cash Flow
Research & Insights
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 28, 2025|Revenue: $5.29B+3.3%|EPS: $3.89-21.1%BeatForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Jul 30, 2025|Revenue: $5.27B+3.3%|EPS: $3.16+18.8%BeatForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: Apr 29, 2025|Revenue: $5.22B-2.7%|EPS: $4.31-80.0%BeatForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 18, 2025|Revenue: $20.67B+0.6%|EPS: $33.02+449.4%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Oct 29, 2024|Revenue: $5.12B+1.1%|EPS: $4.93+398.0%BeatForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Jul 30, 2024|Revenue: $5.10B+0.4%|EPS: $2.66+119.8%BeatForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: Apr 30, 2024|Revenue: $5.37B+6.9%|EPS: $21.60+1442.9%BeatForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 16, 2024|Revenue: $20.55B+7.2%|EPS: $6.01+56.5%Beat