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Tenet Health (THC)

NYSE Health Care Health Care Facilities S&P MidCap 400
$283.33
-3.13 (-1.09%)
Close of Nov 06, 2026 · end-of-day data
Source: Tenet Health's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$21.07B$20.61B$18.31B$18.48B$17.64B$19.48B$19.17B$20.56B$20.68B$21.31B
Operating income$1.25B$1.11B$1.64B$1.54B$1.99B$2.87B$2.33B$2.51B$5.96B$3.51B
Interest expense$979.00M$1.03B$1.00B$985.00M$1.00B$923.00M$890.00M$901.00M$826.00M$821.00M
Pre-tax income$248.00M-$101.00M$629.00M$320.00M$671.00M$1.89B$1.34B$1.62B$5.25B$2.80B
Income tax$67.00M$219.00M$173.00M$160.00M-$97.00M$411.00M$344.00M$306.00M$1.18B$433.00M
Net income-$192.00M-$704.00M$104.00M-$215.00M$399.00M$914.00M$411.00M$611.00M$3.20B$1.41B
EBITDA$2.10B$1.98B$2.44B$2.39B$2.85B$3.73B$3.17B$3.38B$6.77B$4.37B
EPS (basic)$-1.93$-7.00$1.02$-2.08$3.80$8.55$3.84$6.01$33.02$15.61
EPS (diluted)$-1.93$-7.00$1.00$-2.08$3.75$8.42$3.79$5.71$32.70$15.49
Diluted shares99.32M100.59M103.88M103.40M106.26M108.57M110.52M104.80M97.88M90.83M
Operating margin5.9%5.4%8.9%8.3%11.3%14.7%12.2%12.2%28.8%16.5%
Net margin-0.9%-3.4%0.6%-1.2%2.3%4.7%2.1%3.0%15.5%6.6%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$716.00M$611.00M$411.00M$262.00M$2.45B$2.36B$858.00M$1.23B$3.02B$2.88B
Receivables$2.90B$2.62B$2.60B$2.74B$2.69B$2.77B$2.94B$2.91B$2.54B$2.56B
Inventory$326.00M$289.00M$305.00M$310.00M$368.00M$384.00M$405.00M$411.00M$346.00M$348.00M
Total current assets$5.26B$5.57B$4.64B$5.08B$7.15B$7.08B$5.98B$7.17B$7.68B$7.85B
Goodwill$7.42B$7.02B$7.28B$7.25B$8.81B$9.26B$10.12B$10.31B$10.69B$11.20B
Total assets$24.70B$23.39B$22.43B$23.36B$27.11B$27.58B$27.16B$28.31B$28.94B$29.68B
Total current liabilities$4.03B$4.33B$3.86B$4.21B$4.85B$5.11B$4.48B$4.76B$4.31B$4.46B
Short-term debt$191.00M$146.00M$182.00M$171.00M$145.00M$135.00M$145.00M$120.00M$92.00M$79.00M
Long-term debt$15.06B$14.79B$14.64B$14.58B$15.57B$15.51B$14.93B$14.88B$13.08B$13.09B
Total debt$15.26B$14.94B$14.83B$14.75B$15.72B$15.65B$15.08B$15.00B$13.17B$13.17B
Total liabilities$21.23B$20.98B$20.30B$21.42B$24.22B$23.32B$22.55B$22.80B$20.39B$20.70B
Shareholders' equity$417.00M-$147.00M-$119.00M-$417.00M$28.00M$1.03B$1.14B$1.61B$4.17B$4.22B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$558.00M$1.20B$1.05B$1.23B$3.41B$1.57B$1.08B$2.37B$2.05B$3.54B
Capital expenditures$875.00M$707.00M$617.00M$670.00M$540.00M$658.00M$762.00M$751.00M$931.00M$1.01B
Free cash flow-$317.00M$493.00M$432.00M$563.00M$2.87B$910.00M$321.00M$1.62B$1.12B$2.53B
Investing cash flow-$430.00M$21.00M-$115.00M-$619.00M-$1.61B-$714.00M-$808.00M-$969.00M$3.43B-$1.27B
Financing cash flow$232.00M-$1.33B-$1.13B-$763.00M$385.00M-$936.00M-$1.78B-$1.03B-$3.69B-$2.40B
Share buybacks$0$0——$0$0$250.00M$200.00M$672.00M$1.39B
Stock-based compensation$68.00M$59.00M$46.00M$42.00M$44.00M$56.00M$56.00M$66.00M$67.00M$104.00M
Depreciation & amortization$850.00M$870.00M$802.00M$850.00M$857.00M$855.00M$841.00M$870.00M$818.00M$863.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.