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
12.45
$15.65
1.56
-

What the Analysts think about Tenet Healthcare

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

Bulls say / Bears say

Adjusted EPS jumped 74% to $4.02 and consolidated adjusted EBITDA margin expanded by 280 basis points to 21.3% in Q2 2025. Management raised full-year 2025 net operating revenue guidance to $20.95–$21.25 billion and adjusted EBITDA guidance to $4.40–$4.54 billion (Investing.com).
The Ambulatory Care segment posted 11% adjusted EBITDA growth with a 39.2% margin in Q2 2025, and same-facility net patient service revenues climbed 7.7%, highlighting strong, high-margin performance at USPI’s outpatient platform (Investing.com).
Tenet lowered its net debt to adjusted EBITDA ratio to 2.45x at June 30, 2025 from 2.54x at December 31, 2024, demonstrating successful deleveraging through divestitures and strong free cash flow (SEC 10-Q).
Same-facility surgical case volumes declined 0.6% and hospital outpatient visits dropped 3.2% in Q2 2025, suggesting potential volume challenges in Tenet’s main operations (SEC 10-Q).
S&P Global Ratings noted that pending health policy changes in the Reconciliation bill could pose reimbursement risks and potentially increase Tenet’s leverage above the current 3.5x threshold (Investing.com).
Labor costs remain high, with salaries, wages and benefits accounting for 41% of net revenues in Q2 2025—just a 140 bps improvement year over year—pointing to ongoing expense pressure (Investing.com).
Data summarised monthly by Lightyear AI. Last updated on 5 Oct 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.
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