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Friday 6 November 2026
Export ARDT’s income statement to Excel — free account
Ardent Health, Inc.
ARDT Healthcare Medical Care Facilities
Ardent Health, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.3 billion, up 6.01% from fiscal 2024.
- Revenue
- +3.05%
- EPS
- +288.2%
- Free cash flow
- −23.5%
- Total debt
- −0.72%
Quarter to September 2026, against a year earlier
15.78
2.79
+21.48%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 4,870 | 5,130 | 5,409 | 5,966 | 6,324 | 6,454 | +6.7% | 6,463 | 6,726 | 7,030 | +3.6% | |
| Gross margin, % | — | — | — | — | — | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 0.0 pt | ||||||
| EBT | — | — | — | — | — | 296 | 311 | 152 | 363 | 286 | 291 | (0.8%) | ||||||
| EBT margin, % | — | — | — | — | — | 6.08 | 6.07 | 2.80 | 6.09 | 4.53 | 4.51 | (1.5) pt | ||||||
| Net income | — | — | — | — | — | 245 | 265 | 129 | 300 | 230 | 231 | (1.5%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 40.67 | 42.89 | 45.05 | 44.93 | 45.91 | n/m | |||||
| Earnings | — | — | — | — | — | — | 1.50 | 0.43 | 1.59 | 0.96 | 1.04 | (13.8%) | ||||||
| Cash flow | — | — | — | — | — | 0.00 | (0.30) | 1.76 | 2.38 | 3.34 | 3.43 | n/m | ||||||
| Capex | — | — | — | — | — | 0.00 | (1.20) | (1.09) | (1.42) | (1.51) | (1.42) | n/m | ||||||
| Free cash flow | — | — | — | — | — | 0.00 | (1.50) | 0.67 | 0.96 | 1.84 | 2.01 | n/m | ||||||
| Book value | — | — | — | — | — | 0.00 | 8.24 | 8.52 | 11.49 | 11.98 | 12.72 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 126 | 126 | 132 | 141 | 141 | +3.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 16.39 | 16.39 | 16.39 | 10.95 | 9.10 | 15.17 | 13.8 | |||||
| P/S | — | — | — | — | — | 0.36 | 0.36 | 0.36 | 0.38 | 0.20 | 0.34 | 0.3 | ||||||
| P/B | — | — | — | — | — | 1.75 | 1.75 | 1.75 | 1.49 | 0.74 | 1.24 | 1.5 | ||||||
| EV/Sales | — | — | — | — | — | 0.49 | 0.49 | 0.49 | 0.47 | 0.26 | 0.40 | 0.4 | ||||||
| EV/FCF | — | — | — | — | — | 23.86 | 23.86 | 23.86 | 21.96 | 6.31 | 9.04 | 20.0 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | 147 | (38) | 222 | 315 | 471 | 482 | +33.8% | |||||
| Capex | — | — | — | — | — | (135) | (151) | (137) | (188) | (212) | (200) | +11.8% | ||||||
| Free cash flow | — | — | — | — | — | 11 | (189) | 84 | 128 | 259 | 282 | +117.9% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 601 | 624 | 887 | 1,012 | 1,153 | +19.0% | |||||
| Net debt | — | — | — | — | — | — | 722 | 749 | 538 | 390 | 332 | (18.6%) | ||||||
| Shareholders’ equity | — | — | — | — | — | — | 1,040 | 1,075 | 1,521 | 1,686 | 1,789 | +17.5% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | 0.00 | 8.44 | 1.17 | 4.34 | 2.65 | 2.78 | +2.7 pt | |||||
| ROIC | — | — | — | — | — | 0.00 | 7.70 | 7.68 | 12.31 | 9.80 | 0.00 | +9.8 pt | ||||||
| ROE | — | — | — | — | — | 0.00 | 0.00 | 5.10 | 16.20 | 8.47 | 8.55 | +8.5 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 24,200 | 24,900 | 25,200 | — | +2.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | 0.00 | 0.00 | 0.22 | 0.24 | 0.25 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Ardent Health, Inc. vs peers in Medical Care Facilities (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ADUS Addus HomeCare Corporation | $2.4B | 21.1× | 20.3× | +7.02% (above 0%: growing) | +24.19% (above 0%: growing) | −21.11% (below 0%: shrinking) | 32.08% | 10.27% | Compare |
| ASTH Astrana Health, Inc. | $2.0B | 46.8× | 25.9× | +48.52% (above 0%: growing) | +110.53% (above 0%: growing) | −67.74% (below 0%: shrinking) | 10.70% | 3.53% | Compare |
| AMN AMN Healthcare Services Inc | $1.9B | 17.4× | 25.4× | +2.29% (above 0%: growing) | n/m | −389.43% (below 0%: shrinking) | 30.58% | 4.00% | Compare |
| ARDT Ardent Health, Inc. | $1.8B | 15.2× | 12.8× | +3.05% (above 0%: growing) | n/m | −23.49% (below 0%: shrinking) | 100.00% | 0.00% | |
| HCSG Healthcare Services Group, Inc. | $1.8B | 16.6× | 18.6× | +3.29% (above 0%: growing) | −37.29% (below 0%: shrinking) | −59.81% (below 0%: shrinking) | 16.76% | 6.66% | Compare |
| SNDA Sonida Senior Living, Inc. | $1.8B | — (loss-making) | — (loss-making) | +114.40% (above 0%: growing) | n/m | +360.11% (above 0%: growing) | 35.68% | (9.27%) | Compare |
| AGL Agilon Health, Inc. | $1.6B | — (loss-making) | — (loss-making) | +5.86% (above 0%: growing) | n/m | +234.38% (above 0%: growing) | 0.00% | 1.59% | Compare |
| PNTG The Pennant Group, Inc. | $1.5B | 37.3× | 36.7× | +31.96% (above 0%: growing) | +55.56% (above 0%: growing) | −3.19% (below 0%: shrinking) | 13.34% | 5.46% | Compare |
| NUTX Nutex Health Inc. | $1.4B | 7.4× | 7.3× | −13.62% (below 0%: shrinking) | n/m | +19.44% (above 0%: growing) | 67.04% | 57.75% | Compare |
| Median of peers | $1.8B | 19.3× | 22.9× | +6.44% | +39.88% | −12.15% | 23.67% | 4.73% |
Pay and ownership Proxy statement filed 8 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 6.09m | (3.17m) | 55.00 |
| 2024 | 6.94m | 18.70m | 106.00 |
Ownership
Directors and executive officers, together
1.90%
EGI-AM
54.00%
Pure Health
21.10%
ALH Holdings, LLC
6.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement