Saturday 17 October 2026 Export THC’s income statement to Excel — free account

Tenet Healthcare Corporation

In the quarter to June 2026, revenue grew 14.6%, EPS grew 213.0%, free cash flow fell 43.9% and total debt was flat, each against the same quarter a year earlier. Revenue growth for three consecutive years.

268.62 6.51 −2.37%

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Market cap: $22.2B
P/E: 10.3×
Fwd P/E: 6.4×
Dividend yield: —
F-score: 7/9
Altman Z: 1.91
Beneish M: −2.67
Dividend safety: 57/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 71.18

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	1	—	—	4	—	2	—	4	5	3	—

Insider Ownership 4.52%

Capital & Financial Ratios $m

Market Cap 22,150.00

Revenue 22,638.00

Net Income 3,174.00

Free Cash Flow 3,023.00

Net Debt 11,078.00

Current Ratio 1.41

Debt/Equity 2.02

P/E ratio 10.28

Fwd P/E 6.43

P/S ratio 0.99

P/B ratio 3.42

Past 5Y EPS Growth 32.80%

This Y EPS Growth 26.43%

Next Y EPS Growth (0.63%)

Next Y revenue growth 5.25%

Next 5Y EPS Growth 11.24%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 47.07%

10-year low 10-year high

P/S against its own 10 years 99.19%

10-year low 10-year high

P/B against its own 10 years 64.25%

10-year low 10-year high

EV/Sales against its own 10 years 99.26%

10-year low 10-year high

EV/FCF against its own 10 years 19.38%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,228	3,019	2,883	2,170
Receivables	2,914	2,536	2,565	2,608
Inventory	411	346	348	338
Other	2,614	1,781	2,053	2,711
	7,167	7,682	7,849	7,827

	2023	2024	2025	Q'26
Payables	1,408	1,294	1,360	1,371
ST’ Debt	120	92	79	160
Other	2,079	1,858	2,085	2,990
	4,760	4,310	4,463	5,567

Compound Annual Growth %

	10y	5y	3y
Sales	1.35%	3.85%	3.58%
Cash Flow	13.18%	0.77%	48.41%
Earnings	0.00%	28.67%	50.71%
Book Value	20.17%	45.05%	34.75%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	5,781	6,041	—	—	—
’25	5,223	5,271	5,289	5,527	21,310
’24	5,368	5,108	5,126	5,073	20,675
’23	5,021	5,082	5,066	5,395	20,564
’22	4,745	4,638	4,801	4,990	19,174
’21	4,781	4,954	4,894	4,856	19,485
’20	4,520	3,648	4,557	4,915	17,640

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,641	585	—	—	—
’25	815	936	1,058	731	3,540
’24	586	747	1,045	(331)	2,047
’23	449	598	503	824	2,374
’22	228	119	315	421	1,083
’21	534	245	432	357	1,568
’20	129	2,239	593	446	3,407

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,461	417	—	—	—
’25	642	743	778	367	2,530
’24	346	602	829	(661)	1,116
’23	214	466	327	616	1,623
’22	73	(33)	150	131	321
’21	413	123	321	53	910
’20	(53)	2,133	507	280	2,867

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	8.01	9.84	—	—	—
’25	4.27	3.14	3.86	4.22	15.49
’24	21.38	2.64	4.89	3.32	32.70
’23	1.32	1.15	0.94	2.30	5.71
’22	1.28	0.35	1.16	0.92	3.79
’21	0.90	1.10	4.13	2.29	8.42
’20	0.88	0.83	(1.86)	3.86	3.75

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	14.06	12.25	14.50	16.77	10.00	38.03	36.69	48.19	73.21	109.82	Analyst estimates 2026–2028 Powerpack
	High	34.08	22.72	39.74	39.37	42.78	83.69	92.65	85.40	171.20	222.82
People
People	Employees	131,610	126,000	115,500	113,600	110,000	101,100	102,400	106,500	98,000	99,000
	Revenue/emp, $m	0.15	0.15	0.16	0.16	0.16	0.19	0.19	0.19	0.21	0.22
Income, $m
Income, $m	Revenue	19,621	19,179	18,313	18,479	17,640	19,485	19,174	20,564	20,675	21,310
	Gross margin, %	36.54	35.56	36.45	36.39	35.37	37.36	36.81	38.07	39.79	41.41
	EBT	248	(101)	629	320	671	1,888	1,345	1,617	5,248	2,800
	EBT margin, %	1.26	(0.53)	3.43	1.73	3.80	9.69	7.01	7.86	25.38	13.14
	Net income	176	(320)	459	171	768	1,476	1,001	1,311	4,064	2,367
	Depreciation	891	914	847	885	895	888	874	902	844	886
Per share, $
Per share, $	Revenue	197.55	190.66	179.35	178.72	167.98	182.39	179.32	202.32	213.36	236.38
	Earnings	(1.93)	(7.00)	1.09	(2.24)	3.80	8.56	3.84	6.01	33.02	15.61
	Cash flow	5.62	11.93	10.27	11.92	32.44	14.68	10.13	23.36	21.12	39.27
	Capex	(8.81)	(7.03)	(6.04)	(6.48)	(5.14)	(6.16)	(7.13)	(7.39)	(9.61)	(11.20)
	Free cash flow	(3.19)	4.90	4.23	5.45	27.30	8.52	3.00	15.97	11.52	28.06
	Book value	10.89	5.36	6.73	4.23	8.92	19.23	23.00	30.67	60.06	66.74
	Shares, m	99	101	102	103	105	107	107	102	97	90
Valuation, ×
Valuation, ×	P/E	0.00	0.00	15.72	0.00	10.54	9.58	12.76	12.63	3.88	12.73
	P/S	0.08	0.08	0.10	0.21	0.24	0.45	0.27	0.38	0.59	0.84
	P/B	1.41	2.98	2.55	9.00	4.48	4.25	2.13	2.48	2.10	2.98
	EV/Sales	0.82	0.83	0.88	1.00	0.99	1.13	1.01	1.05	1.08	1.32
	EV/FCF	(50.69)	32.32	37.42	32.72	6.09	24.19	60.62	13.25	20.06	11.15
Cash, $m
Cash, $m	Operating cash flow	558	1,200	1,049	1,233	3,407	1,568	1,083	2,374	2,047	3,540
	Capex	(875)	(707)	(617)	(670)	(540)	(658)	(762)	(751)	(931)	(1,010)
	Free cash flow	(317)	493	432	563	2,867	910	321	1,623	1,116	2,530
Balance, $m
Balance, $m	Working capital	1,223	1,241	779	876	2,300	1,966	1,505	2,407	3,372	3,386
	Total debt	15,255	14,937	14,826	14,751	15,719	15,646	15,079	15,002	13,173	13,171
	Net debt	14,539	14,326	14,415	14,489	13,273	13,282	14,221	13,774	10,154	10,288
	Shareholders’ equity	1,082	539	687	437	937	2,054	2,459	3,117	5,820	6,017
Returns, %
Returns, %	ROA	(0.79)	(2.93)	0.45	(0.94)	1.58	3.34	1.50	2.20	11.18	4.80
	ROIC	4.99	4.68	6.77	6.44	8.75	11.70	8.74	9.29	23.30	13.45
	ROE	(18.82)	(86.86)	16.97	(38.26)	58.08	61.12	18.21	21.92	71.61	23.77

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
THC Tenet Healthcare Corporation	$22.2B	10.3×	6.4×	+14.61% (above 0%: growing)	+212.97% (above 0%: growing)	−43.88% (below 0%: shrinking)	46.78%	24.85%
EHC Encompass Health Corporation	$12.6B	20.6×	16.8×	+9.58% (above 0%: growing)	+9.93% (above 0%: growing)	−45.01% (below 0%: shrinking)	100.00%	17.85%	Compare
DVA DaVita Inc.	$12.1B	15.0×	13.1×	+5.17% (above 0%: growing)	+56.49% (above 0%: growing)	+49.36% (above 0%: growing)	32.70%	16.29%	Compare
FMS Fresenius Medical Care AG & Co. KGaA	$11.8B	11.5×	12.5×	+3.89% (above 0%: growing)	+6.82% (above 0%: growing)	+1.57% (above 0%: growing)	26.95%	9.58%	Compare
UHS Universal Health Services, Inc.	$11.0B	7.5×	6.1×	+8.27% (above 0%: growing)	+9.47% (above 0%: growing)	−23.78% (below 0%: shrinking)	90.87%	11.14%	Compare
ENSG The Ensign Group, Inc.	$10.4B	26.9×	24.1×	+17.33% (above 0%: growing)	+16.22% (above 0%: growing)	+12.24% (above 0%: growing)	16.65%	8.50%	Compare
PACS PACS Group, Inc.	$7.6B	27.6×	16.8×	+9.07% (above 0%: growing)	+45.45% (above 0%: growing)	+220.51% (above 0%: growing)	17.07%	7.66%	Compare
CHE Chemed Corporation	$6.7B	25.7×	20.4×	+8.80% (above 0%: growing)	+42.78% (above 0%: growing)	−43.51% (below 0%: shrinking)	32.90%	13.25%	Compare
CON Concentra Group Holdings Parent, Inc.	$5.0B	24.9×	17.0×	+10.03% (above 0%: growing)	+45.71% (above 0%: growing)	+91.62% (above 0%: growing)	31.70%	18.99%	Compare
Median of peers	$10.7B	22.7×	16.8×	+8.94%	+29.50%	+6.91%	32.20%	12.20%

All 55 Medical Care Facilities stocks →

Tenet Healthcare Corporation (THC) key facts

Concern: Net income was $2.4 billion, or $15.61 per share (basic), a net margin of 6.60%.
Tenet Healthcare Corporation (THC) is a Medical Care Facilities company in the Healthcare sector, listed on the New York Stock Exchange.
As of October 16, 2026, THC traded at $268.62, a market capitalization of $22.2 billion.
At that price the stock trades at 10.3× trailing-twelve-month earnings and 1.0× sales; its P/E is higher than 47% of its own readings over the past ten years.
Return on equity was 23.8% and debt-to-equity 2.02.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.91 (grey zone) for fiscal 2025.