Overview Dividends

(THC) Tenet Healthcare - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US88033G4073

Hospitals, Ambulatory Surgery, Urgent Care, Imaging Centers

Health Care Facilities
Market Cap in USD: 17,785m

IPO / Inception: 1982-01-04
Return 12m vs S&P 500: 41.0%

EPS (Earnings per Share)

EPS CAGR: -45.94%
EPS Trend: 21.7%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 2.30%
Rev. Trend: 79.3%

Last SUE: 0.24
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	35.0%
Value at Risk 5%th	55.1%
Relative Tail Risk	-4.29%

Reward TTM
Sharpe Ratio	1.39
Alpha	47.33
CAGR/Max DD	1.62

Character TTM
Hurst Exponent	0.459
Beta	0.951
Beta Downside	1.180

Drawdowns 3y
Max DD	36.90%
Mean DD	8.54%
Median DD	4.94%

Description: THC Tenet Healthcare December 19, 2025

Tenet Healthcare Corp. (NYSE: THC) is a Dallas-based, diversified health-care services firm that runs a network of acute-care hospitals, ambulatory surgery centers, urgent-care sites, imaging facilities, and micro-hospitals across the United States. Its operations are split between Hospital Operations & Services and Ambulatory Care, delivering a broad menu that includes inpatient acute care, specialty surgeries (e.g., cardiothoracic, spinal, transplant), intensive-care units, and outpatient services such as orthopedics, gastroenterology, and tele-medicine.

Key performance indicators from Tenet’s most recent 10-Q (Q3 2023) show adjusted EBITDA of roughly $1.3 billion and an operating margin of 5.2%, with hospital occupancy hovering around 71%-a modest improvement from the pandemic trough but still below the industry average of ~78%. The company’s cash flow conversion remains strong, generating about $800 million in free cash flow, which underpins its ongoing debt-reduction plan and potential for dividend reinstatement.

Sector-wide drivers that materially affect Tenet include an aging U.S. population (projected to increase the over-65 cohort by 10% over the next decade), shifting Medicare/Medicaid reimbursement rates, and persistent labor shortages in nursing and allied health staff that can pressure operating margins. Additionally, the rollout of value-based care contracts is accelerating, incentivizing hospitals to improve quality metrics and readmission rates.

For a deeper quantitative look at THC’s valuation metrics, you may find the ValueRay platform useful.

Piotroski VR‑10 (Strict, 0-10) 6.5

Net Income (1.35b TTM) > 0 and > 6% of Revenue (6% = 1.25b TTM)

FCFTA 0.05 (>2.0%) and ΔFCFTA -3.04pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 15.58% (prev 15.36%; Δ 0.23pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.08 (>3.0%) and CFO 2.48b > Net Income 1.35b (YES >=105%, WARN >=100%)

Net Debt (10.21b) to EBITDA (4.42b) ratio: 2.31 <= 3.0 (WARN <= 3.5)

Current Ratio 1.71 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (88.6m) change vs 12m ago -8.32% (target <= -2.0% for YES)

Gross Margin 55.93% (prev 39.55%; Δ 16.39pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 70.95% (prev 71.40%; Δ -0.45pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 4.39 (EBITDA TTM 4.42b / Interest Expense TTM 819.0m) >= 6 (WARN >= 3)

Altman Z'' 2.19

(A) 0.11 = (Total Current Assets 7.81b - Total Current Liabilities 4.56b) / Total Assets 29.42b

(B) 0.14 = Retained Earnings (Balance) 4.04b / Total Assets 29.42b

(D) 0.19 = Book Value of Equity 3.88b / Total Liabilities 20.72b

Total Rating: 2.19 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 76.23

1. Piotroski 6.50pt

2. FCF Yield 5.36%

3. FCF Margin 7.20%

4. Debt/Equity 3.29

5. Debt/Ebitda 2.31

6. ROIC - WACC (= 10.97)%

7. RoE 33.61%

8. Rev. Trend 79.27%

9. EPS Trend 21.75%

What is the price of THC shares?

As of January 07, 2026, the stock is trading at USD 208.24 with a total of 694,093 shares traded.
Over the past week, the price has changed by +3.45%, over one month by +0.94%, over three months by +4.25% and over the past year by +65.78%.

Is THC a buy, sell or hold?

Tenet Healthcare has received a consensus analysts rating of 4.32. Therefore, it is recommended to buy THC.

Strong Buy: 12
Buy: 5
Hold: 5
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the THC price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	237.2	13.9%
Analysts Target Price	237.2	13.9%
ValueRay Target Price	310.7	49.2%

THC Fundamental Data Overview December 31, 2025

Market Cap USD = 17.79b (17.79b USD * 1.0 USD.USD)
P/E Trailing = 13.6939
P/E Forward = 12.8535
P/S = 0.8532
P/B = 4.4039
P/EG = 0.8537
Beta = 1.445
Revenue TTM = 20.86b USD
EBIT TTM = 3.59b USD
EBITDA TTM = 4.42b USD
Long Term Debt = 13.10b USD (from longTermDebt, last quarter)
Short Term Debt = 85.0m USD (from shortTermDebt, last quarter)
Debt = 13.19b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 10.21b USD (from netDebt column, last quarter)
Enterprise Value = 28.00b USD (17.79b + Debt 13.19b - CCE 2.98b)
Interest Coverage Ratio = 4.39 (Ebit TTM 3.59b / Interest Expense TTM 819.0m)
FCF Yield = 5.36% (FCF TTM 1.50b / Enterprise Value 28.00b)
FCF Margin = 7.20% (FCF TTM 1.50b / Revenue TTM 20.86b)
Net Margin = 6.49% (Net Income TTM 1.35b / Revenue TTM 20.86b)
Gross Margin = 55.93% ((Revenue TTM 20.86b - Cost of Revenue TTM 9.19b) / Revenue TTM)
Gross Margin QoQ = 58.33% (prev 82.32%)
Tobins Q-Ratio = 0.95 (Enterprise Value 28.00b / Total Assets 29.42b)
Interest Expense / Debt = 1.56% (Interest Expense 206.0m / Debt 13.19b)
Taxrate = 18.68% (133.0m / 712.0m)
NOPAT = 2.92b (EBIT 3.59b * (1 - 18.68%))
Current Ratio = 1.71 (Total Current Assets 7.81b / Total Current Liabilities 4.56b)
Debt / Equity = 3.29 (Debt 13.19b / totalStockholderEquity, last quarter 4.01b)
Debt / EBITDA = 2.31 (Net Debt 10.21b / EBITDA 4.42b)
Debt / FCF = 6.80 (Net Debt 10.21b / FCF TTM 1.50b)
Total Stockholder Equity = 4.03b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.60% (Net Income 1.35b / Total Assets 29.42b)
RoE = 33.61% (Net Income TTM 1.35b / Total Stockholder Equity 4.03b)
RoCE = 20.97% (EBIT 3.59b / Capital Employed (Equity 4.03b + L.T.Debt 13.10b))
RoIC = 16.98% (NOPAT 2.92b / Invested Capital 17.20b)
WACC = 6.01% (E(17.79b)/V(30.97b) * Re(9.52%) + D(13.19b)/V(30.97b) * Rd(1.56%) * (1-Tc(0.19)))
Discount Rate = 9.52% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -7.77%
[DCF Debug] Terminal Value 76.79% ; FCFE base≈1.86b ; Y1≈2.29b ; Y5≈3.91b
Fair Price DCF = 581.1 (DCF Value 51.07b / Shares Outstanding 87.9m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 21.75 | EPS CAGR: -45.94% | SUE: -4.0 | # QB: 0
Revenue Correlation: 79.27 | Revenue CAGR: 2.30% | SUE: 0.24 | # QB: 0
EPS next Quarter (2026-03-31): EPS=4.40 | Chg30d=-0.030 | Revisions Net=+3 | Analysts=15
EPS next Year (2026-12-31): EPS=16.45 | Chg30d=-0.026 | Revisions Net=+10 | Growth EPS=+2.1% | Growth Revenue=+4.3%

Additional Sources for THC Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle