TENET HEALTHCARE CORP THC

Healthcare SIC 8062 - Services-General Medical & Surgical Hospitals, NEC NAICS Health Care and Social Assistance › Hospitals › General Medical and Surgical Hospitals derived NYSE

Last close 268.45 2026-10-23
Market cap $21.62B 2026-06-30 share count
52-week range 157.58 - 283.05

Valuation FY2025 figures against the last close

P/S1.0x
P/E17.3x
P/FCF8.5x
EV/EBITDA4.9x
Dividend yield—
Diluted EPS15.49

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 15.6133.026.013.848.553.80-2.081.02-7.00-1.93
EPS, diluted 15.4932.705.713.798.423.75-2.081.00-7.00-1.93
Shares, diluted (wtd. avg.) 90.8M97.9M104.8M110.5M108.6M106.3M103.4M103.9M100.6M99.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -10B 0 10B 20B 30B Revenue, FY2016: 21.1B Net income, FY2016: 176M Revenue, FY2017: 20.6B Net income, FY2017: -320M Revenue, FY2018: 18.3B Net income, FY2018: 459M Revenue, FY2019: 18.5B Net income, FY2019: 171M Revenue, FY2020: 17.6B Net income, FY2020: 768M Revenue, FY2021: 19.5B Net income, FY2021: 1.5B Revenue, FY2022: 19.2B Net income, FY2022: 1B Revenue, FY2023: 20.6B Net income, FY2023: 1.3B Revenue, FY2024: 20.7B Net income, FY2024: 4.1B Revenue, FY2025: 21.3B Net income, FY2025: 2.4B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $21.07B $20.61B $18.31B $18.48B $17.64B $19.48B $19.17B $20.56B $20.68B $21.31B
Gross profit — — — — — — — — — —
Net income $176.0M -$320.0M $459.0M $171.0M $768.0M $1.48B $1.00B $1.31B $4.06B $2.37B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 8062

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SGRY Surgery Partners, Inc. $2.06B — 6.2%
ARDT Ardent Health, Inc. $1.73B 12.8x 6.0%
CYH COMMUNITY HEALTH SYSTEMS INC $411.7M 0.8x -1.2%