Community Health Systems, Inc.
CYH Healthcare Medical Care Facilities
Community Health Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.5 billion, down 1.18% from fiscal 2024. In the quarter to June 2026, revenue fell 9.83%, EPS fell 75.8%, free cash flow grew 500.0% and total debt fell 11.8%, each against the same quarter a year earlier.
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Community Health Systems, Inc. (CYH) Altman Z-score
Community Health Systems, Inc.'s Altman Z-score for fiscal 2025 is 1.05, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.05 | 0.33 |
| FY2024 | 0.72 | (0.13) |
| FY2023 | 0.84 | 0.06 |
| FY2022 | 0.78 | (0.16) |
| FY2021 | 0.95 | 0.15 |
| FY2020 | 0.80 | 0.10 |
| FY2019 | 0.70 | (0.02) |
| FY2018 | 0.72 | 0.29 |
| FY2017 | 0.44 | (0.37) |
| FY2016 | 0.81 | (0.36) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.08 | — | 0.09 | |
| Retained earnings / total assets | (0.27) | — | −0.38 | |
| EBIT / total assets | 0.11 | — | 0.37 | |
| Market value of equity / total liabilities | 0.03 | — | 0.02 | |
| Sales / total assets | 0.95 | — | 0.95 | |
| Altman Z-score | Distress zone | 1.05 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.30 | ||
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 |
|---|---|
| MCTA Charming Medical Limited compare | 61.6× |
| HCSG Healthcare Services Group, Inc. compare | 6.6× |
| SRTA Strata Critical Medical, Inc. compare | 5.3× |
| INNV InnovAge Holding Corp. compare | 4.6× |
| NUTX Nutex Health Inc. compare | 3.3× |
| USPH U.S. Physical Therapy, Inc. compare | 2.1× |
| STLN Starling Oncology, Inc. compare | 1.4× |
| CYH Community Health Systems, Inc. | 1.0× |
| AUNA Auna S.A. compare | 1.0× |
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