stockrowArdent 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
Follow ARDT
Alert me
Ardent Health, Inc. (ARDT) Altman Z-score
Ardent Health, Inc.'s Altman Z-score for fiscal 2025 is 1.97, in the grey zone (1.81–2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.97 | (0.22) |
| FY2024 | 2.19 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.19 | — | 0.23 | |
| Retained earnings / total assets | 0.09 | — | 0.13 | |
| EBIT / total assets | 0.06 | — | 0.20 | |
| Market value of equity / total liabilities | 0.34 | — | 0.21 | |
| Sales / total assets | 1.20 | — | 1.20 | |
| Altman Z-score | Grey zone | 1.97 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.47 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| HCSG Healthcare Services Group, Inc. compare | 6.6× |
| ADUS Addus HomeCare Corporation compare | 5.2× |
| NUTX Nutex Health Inc. compare | 3.3× |
| ASTH Astrana Health, Inc. compare | 2.4× |
| PNTG The Pennant Group, Inc. compare | 2.3× |
| AMN AMN Healthcare Services Inc compare | 2.3× |
| ARDT Ardent Health, Inc. | 2.0× |
| AGL Agilon Health, Inc. compare | 1.5× |
| SNDA Sonida Senior Living, Inc. compare | −0.1× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets