TENET HEALTHCARE CORP THC
Last close
265.05
2026-09-04
Market cap
$21.34B
2026-06-30 share count
52-week range
157.58 - 283.05
Valuation FY2025 figures against the last close
P/S1.0x
P/E17.1x
P/FCF8.4x
EV/EBITDA4.9x
Dividend yield—
Diluted EPS15.49
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.31B | $20.68B | $20.56B | $19.17B | $19.48B | $17.64B | $18.48B | $18.31B | $20.61B | $21.07B |
| Operating income | $3.51B | $5.96B | $2.51B | $2.33B | $2.87B | $1.99B | $1.54B | $1.64B | $1.11B | $1.25B |
| Interest expense | $821.0M | $826.0M | $901.0M | $890.0M | $923.0M | $1.00B | $985.0M | $1.00B | $1.03B | $979.0M |
| Pre-tax income | $2.80B | $5.25B | $1.62B | $1.34B | $1.89B | $671.0M | $320.0M | $629.0M | -$101.0M | $248.0M |
| Income tax | $433.0M | $1.18B | $306.0M | $344.0M | $411.0M | $97.0M | $160.0M | $173.0M | $219.0M | $67.0M |
| Net income | $2.37B | $4.06B | $1.31B | $1.00B | $1.48B | $768.0M | $171.0M | $459.0M | -$320.0M | $176.0M |
| EPS, basic | 15.61 | 33.02 | 6.01 | 3.84 | 8.55 | 3.80 | -2.08 | 1.02 | -7.00 | -1.93 |
| EPS, diluted | 15.49 | 32.70 | 5.71 | 3.79 | 8.42 | 3.75 | -2.08 | 1.00 | -7.00 | -1.93 |
| Shares, diluted (wtd. avg.) | $90.8M | $97.9M | $104.8M | $110.5M | $108.6M | $106.3M | $103.4M | $103.9M | $100.6M | $99.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.88B | $3.02B | $1.23B | $858.0M | $2.36B | $2.45B | $262.0M | $411.0M | $611.0M | $716.0M |
| Receivables | $2.56B | $2.54B | $2.91B | $2.94B | $2.77B | $2.69B | $2.74B | $2.60B | $2.62B | $2.90B |
| Inventory | $348.0M | $346.0M | $411.0M | $405.0M | $384.0M | $368.0M | $310.0M | $305.0M | $289.0M | $326.0M |
| Total current assets | $7.85B | $7.68B | $7.17B | $5.98B | $7.08B | $7.15B | $5.08B | $4.64B | $5.57B | $5.26B |
| Property, plant and equipment | — | — | — | — | — | — | — | $6.99B | $7.03B | $8.05B |
| Goodwill | $11.20B | $10.69B | $10.31B | $10.12B | $9.26B | $8.81B | $7.25B | $7.28B | $7.02B | $7.42B |
| Other intangibles | $1.35B | $1.40B | $1.37B | $1.42B | $1.50B | $1.60B | $1.60B | $1.73B | $1.77B | $1.84B |
| Total assets | $29.68B | $28.94B | $28.31B | $27.16B | $27.58B | $27.11B | $23.36B | $22.43B | $23.39B | $24.70B |
| Accounts payable | $1.36B | $1.29B | $1.41B | $1.50B | $1.30B | $1.21B | $1.20B | $1.21B | $1.18B | $1.33B |
| Total current liabilities | $4.46B | $4.31B | $4.76B | $4.48B | $5.11B | $4.85B | $4.21B | $3.86B | $4.33B | $4.03B |
| Total liabilities | $20.70B | $20.39B | $22.80B | $22.55B | $23.32B | $24.22B | $21.42B | $20.30B | $20.98B | $21.23B |
| Retained earnings | $4.42B | $3.01B | -$192.0M | -$803.0M | -$1.21B | -$2.13B | -$2.51B | -$2.24B | -$2.39B | -$1.74B |
| Total equity | $4.22B | $4.17B | $3.12B | $2.46B | $2.05B | $937.0M | $437.0M | $624.0M | $483.0M | $1.08B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.54B | $2.05B | $2.37B | $1.08B | $1.57B | $3.41B | $1.23B | $1.05B | $1.20B | $558.0M |
| Depreciation and amortisation | $863.0M | $818.0M | $870.0M | $841.0M | $855.0M | $857.0M | $850.0M | $802.0M | $870.0M | $850.0M |
| Stock-based compensation | $104.0M | $67.0M | $66.0M | $56.0M | $56.0M | $44.0M | $42.0M | $46.0M | $59.0M | $68.0M |
| Capital expenditure | $1.01B | $931.0M | $751.0M | $762.0M | $658.0M | $540.0M | $670.0M | $617.0M | $707.0M | $875.0M |
| Investing cash flow | -$1.27B | $3.43B | -$969.0M | -$808.0M | -$714.0M | -$1.61B | -$619.0M | -$115.0M | $21.0M | -$430.0M |
| Financing cash flow | -$2.40B | -$3.69B | -$1.03B | -$1.78B | -$936.0M | $385.0M | -$763.0M | -$1.13B | -$1.33B | $232.0M |
| Buybacks | $1.39B | $672.0M | $200.0M | $250.0M | $0 | $0 | — | — | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-159118.
Others in SIC 8062
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| HCA | HCA Healthcare, Inc. | $89.85B | 14.3x | 7.1% |
| UHS | UNIVERSAL HEALTH SERVICES INC | $10.12B | 7.3x | 9.7% |
| SGRY | Surgery Partners, Inc. | $1.87B | — | 6.2% |
| ARDT | Ardent Health, Inc. | $1.54B | 11.4x | 6.0% |
| CYH | COMMUNITY HEALTH SYSTEMS INC | $407.5M | 0.8x | -1.2% |