Tenet Healthcare/$THC

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About Tenet Healthcare

Tenet Healthcare is a Dallas-based healthcare services organization. It operates acute and specialty hospitals (47 as of December 2024) and over 500 ambulatory surgery centers and other outpatient facilities across the US, primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.

Ticker

$THC
Sector

Primary listing

NYSE

Employees

86,240

Tenet Healthcare Metrics

BasicAdvanced
$17B
12.30
$15.65
1.52
-

What the Analysts think about Tenet Healthcare

Analyst ratings (Buy, Hold, Sell) for Tenet Healthcare stock.

Bulls say / Bears say

Fitch raised Tenet’s issuer default rating to BB-, citing gains in its competitive position and effective execution of its strategy (Reuters).
The ratings agency highlighted that Tenet’s ambulatory care business has consistently generated strong EBITDA growth, helping reduce overall debt significantly through targeted asset sales (Reuters).
Fitch expects Tenet’s leverage to drop toward 3.5x in 2025, reflecting robust free cash flow and ongoing debt reduction efforts (Reuters).
Barclays analyst pointed out that Tenet saw slower surgical volume growth in Q2, with both inpatient and outpatient surgeries falling in line with peers. This has raised concerns that demand might be leveling off (Reuters).
Despite the recent rating boost, Fitch noted Tenet's leverage is still high compared to HCA Healthcare and Universal Health Services, which highlights continued credit risk (Reuters).
Fitch cautioned that a negative rating action could happen if Tenet’s EBITDA leverage stays above 4.5x or free cash flow falls below 5% of revenue, emphasizing the financial risks still present in its credit profile (Reuters).
Data summarised monthly by Lightyear AI. Last updated on 3 Sept 2025.

Tenet Healthcare Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Tenet Healthcare Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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