Tenet Healthcare/$THC
1D1W1M3M6MYTD1Y5YMAX
Capital at risk
About Tenet Healthcare
Tenet Healthcare is a Dallas-based healthcare services organization. It operates acute and specialty hospitals (50 as of December 2025) and hundreds of 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
- Health
- Primary listing
- NYSE
- Employees
- 88,500
- Headquarters
- Dallas, United States
- Website
- www.tenethealth.com
Tenet Healthcare Metrics
BasicAdvanced
$23B
8.31
$34.11
1.20
-
Price and volume
Market cap
$23B
Beta
1.2
52-week high
$301.44
52-week low
$157.58
Average daily volume
764K
Financial strength
Current ratio
1.585
Quick ratio
0.991
Long term debt to equity
1.363
Total debt to equity
1.38
Interest coverage (TTM)
5.47%
Profitability
EBITDA (TTM)
5,127
Gross margin (TTM)
42.47%
Net profit margin (TTM)
13.09%
Operating margin (TTM)
20.19%
Effective tax rate (TTM)
19.40%
Revenue per employee (TTM)
$250,000
Management effectiveness
Return on assets (TTM)
9.16%
Return on equity (TTM)
41.70%
Valuation
Price to earnings (TTM)
8.307
Price to revenue (TTM)
1.08
Price to book
4.14
Price to tangible book (TTM)
-3.04
Price to free cash flow (TTM)
7.188
Free cash flow yield (TTM)
13.91%
Free cash flow per share (TTM)
39.416
Growth
Revenue change (TTM)
6.22%
Earnings per share change (TTM)
134.13%
3-year revenue growth (CAGR)
3.20%
10-year revenue growth (CAGR)
1.14%
3-year earnings per share growth (CAGR)
98.24%
10-year earnings per share growth (CAGR)
32.02%
What the Analysts think about Tenet Healthcare
Analyst ratings (Buy, Hold, Sell) for Tenet Healthcare stock.
Analyst projections of the future price of Tenet Healthcare stock.
Bulls say / Bears say
Hospital demand and execution are improving: adjusted admissions rose 3.2% in the third quarter, while Tenet raised its 2026 adjusted EBITDA outlook to $5.05–$5.20 billion. That gives the company a stronger base as it manages payer-mix pressure. (Tenet Healthcare)
Tenet’s large surgery-centre network gives it a growth engine beyond its hospitals. USPI’s third-quarter adjusted EBITDA grew 9.1%, supported by higher-acuity procedures and acquisitions, including 12.8% growth in same-store joint replacements. (Healthcare Dive)
Strong cash generation is allowing Tenet to return capital while reducing leverage. It repurchased $1.615 billion of shares year to date, and net debt to adjusted EBITDA fell to 2.11 times from 2.25 times at the end of 2025. (Tenet Healthcare)
Some of the sharp third-quarter earnings growth came from temporary Conifer transition benefits: they added $147 million to adjusted EBITDA in the quarter. With the service transition nearly complete, that boost will not provide a lasting source of earnings growth. (Tenet Healthcare, Healthcare Dive)
Fewer exchange-insured patients are worsening Tenet’s hospital payer mix, and the company says future Medicaid funding and eligibility changes could further reduce payments or coverage. This could weigh on revenue and cash flow even if patient demand holds up. (U.S. Securities and Exchange Commission)
Underlying procedure volumes were soft: same-facility surgical cases at USPI fell 1.5%, while hospital surgeries declined 1.1% in the third quarter. Revenue growth therefore leant on higher revenue per case, making continued gains more dependent on case mix than broad volume growth. (Tenet Healthcare)
Data summarised monthly by Lightyear AI. Last updated on 4 Nov 2026.
Tenet Healthcare Financial Performance
Revenues and expenses
Tenet Healthcare Earnings Performance
Company profitability
Upcoming events
No upcoming events
Tenet Healthcare News
AllArticlesVideos
Funds containing Tenet Healthcare
AllUSDEURGBP
Fund name | Fund size | $THC weighting |
|---|---|---|
iShares USD High Yield Corporate Bond€IS0R | $2.3B | 2.98% |
iShares USD High Yield Corporate Bond£SHYU | $2.3B | 2.98% |
iShares USD Short Duration High Yield Corporate Bond£SDHG | $959M | 2.58% |
iShares Global High Yield Corporate Bond$HYLD | $963M | 1.25% |
iShares Global High Yield Corporate Bond£IGHY | $963M | 1.25% |
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