Ardent Health Partners, Inc.

NYSE•ARDT

CEO: Mr. Martin J. Bonick FACHE, M.H.A.

Sector: Healthcare

Industry: Medical - Care Facilities

Listing Date:

Ardent Health Partners, Inc. owns and operates a network of hospitals and clinics that provides a range of healthcare services in the United States. It operates acute care hospitals, including rehabilitation hospitals and surgical hospitals. The company was founded in 2001 and is based in Brentwood, Tennessee. Ardent Health Partners, Inc. is a subsidiary of EGI-AM Investments, L.L.C.

Contact Information

340 Seven Springs Way, Suite 100, Brentwood, TN, 37027, United States

615-296-3000

www.ardenthealth.com

Market Cap

$1.29B

P/E (TTM)

9.3

16.4

Dividend Yield

52W High

$15.48

52W Low

$8.07

52W Range

13%

Rank41Top 44.9%

4.0

F-Score

Modified Piotroski Analysis

Based on 8-year fundamentals

Average • 4 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2018-2025

Financial Dashboard

Q4 2025 Data

Revenue

$1.61B+0.00%

4-Quarter Trend

EPS

$0.32+0.00%

4-Quarter Trend

FCF

$137.83M+0.00%

4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Growth Strong Total revenue grew 8.8% to $1.58 B for the quarter; 9-month revenue increased 8.2% to $4.72 B.

Operating Cash Flow Improves Nine-month cash provided by operations reached $247.075 M, up $51.618 M from prior period, supporting liquidity.

Liquidity Position Solid Cash and equivalents totaled $609.441 M at period end; available liquidity stood at $903.8 M for needs.

Debt Refinancing Completed Term Loan B refinanced in September 2025, reducing applicable interest rate by 50 basis points immediately.

Risk Factors

Quarterly Net Loss Reported Net loss attributable to Ardent Health, Inc. was $(23.478) M for the quarter, reversing prior period income.

Professional Liability Reserves Surge $47.2 M professional liability reserve increase, driven by New Mexico adverse claim developments, impacted Q3 results.

Regulatory Environment Uncertainty OBBBA legislation introduces uncertainty regarding Medicaid funding mechanisms and potential federal payment reductions.

Labor Costs Remain High Competition and minimum wage increases in some markets create ongoing pressure on salaries and benefits expenses.

Outlook

Continue Acquisition Strategy Completed acquisition of 18 urgent care clinics in January 2025 for $27.5 M, planning further growth.

Manage Revenue Estimate Change Implemented new revenue accounting system, resulting in $42.6 M revenue decrease due to improved collectability estimates.

Capital Expenditures Planned Expect to finance future capital expenditures with internally generated funds and borrowed funds for modernization.

Debt Covenants Compliance Management believes compliance maintained with all financial covenants under the Ventas Master Lease as of September 30, 2025.

Peer Comparison

Revenue (TTM)

ARDT

$6.32B

+6.0%

SEM

$5.45B

+15.8%

ACHC

$3.31B

+5.0%

Gross Margin (Latest Quarter)

ARDT

165.5%

-25.6pp

IBRX

88.9%

-12.9pp

NHC

67.7%

+1.8pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
IBRX	$8.50B	-23.3	64.3%	175.0%
BKD	$3.45B	-12.9	-523.8%	112.0%
LFST	$2.59B	265.3	0.7%	8.8%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

2.3%

Moderate Growth

4Q Net Income CAGR

2.8%

Profitability Slowly Improving

Cash Flow Stability

75%

Volatile Cash Flow

Deep Research

Next earnings:May 12, 2026

EPS:$0.18

Revenue:$1.57B

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data