THC Stock Analysis: Tenet Healthcare | NYSE
Medical Care Facilities | NYSE, USA | Market Cap: 14.865m USD | 12M Return: 9.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 233M
EPS Trend: 98.7%
Qual. Beats: 2
Rev. Trend: 78.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality
Tenet Healthcare Corporation is a US-based diversified healthcare services company that operates through two main segments: Hospital Operations and Services, and Ambulatory Care. The company runs general acute care hospitals offering a broad range of inpatient, outpatient, and tertiary/quaternary services spanning cardiology, neurosurgery, organ transplants, orthopedics, trauma care, and various diagnostic and surgical specialties. Beyond its hospitals, Tenet also operates off-campus emergency departments, imaging centers, urgent care centers, micro-hospitals, ambulatory surgery centers, and surgical hospitals. Headquartered in Dallas, Texas, and founded in 1967, Tenet has been listed on the NYSE under the ticker THC since 1982 and is classified within the Health Care Facilities sub-industry, which encompasses owners and operators of hospitals and related patient care facilities. Like other for-profit hospital operators, Tenets business model combines higher-margin specialty and ambulatory services with traditional inpatient acute care, reflecting the broader industry shift toward outpatient settings.
- USPI ambulatory surgery center expansion accelerates high-margin segment growth
- Hospital labor costs and wage inflation pressure operating margins
- Same-hospital admissions and adjusted EBITDA growth signal volume recovery
| Net Income: 1.70b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 5.87 > 1.0 |
| NWC/Revenue: 10.27% < 20% (prev 16.87%; Δ -6.60% < -1%) |
| CFO/TA 0.14 > 3% & CFO 4.37b > Net Income 1.70b |
| Net Debt (10.2b) to EBITDA (4.88b): 2.10 < 3 |
| Current Ratio: 1.36 > 1.5 & < 3 |
| Outstanding Shares: last quarter (87.6m) vs 12m ago -7.81% < -2% |
| Gross Margin: 42.76% > 18% (prev 50.72%; Δ -7.96% > 0.5%) |
| Asset Turnover: 71.00% > 50% (prev 70.19%; Δ 0.81% > 0%) |
| Interest Coverage Ratio: 4.85 > 6 (EBIT TTM 3.99b / Interest Expense TTM 822.0m) |
| A: 0.07 (Total Current Assets 8.36b - Total Current Liabilities 6.15b) / Total Assets 31.2b |
| B: 0.16 (Retained Earnings 5.12b / Total Assets 31.2b) |
| C: 0.13 (EBIT TTM 3.99b / Avg Total Assets 30.2b) |
| D: 0.22 (Book Value of Equity 4.81b / Total Liabilities 22.4b) |
| Altman-Z'' = 2.11 = BBB |
| DSRI: 0.79 (Receivables 2.60b/3.15b, Revenue 21.5b/20.5b) |
| GMI: 1.19 (GM 50.72% / 42.76%) |
| AQI: 1.01 (AQ_t 0.53 / AQ_t-1 0.52) |
| SGI: 1.05 (Revenue 21.5b / 20.5b) |
| TATA: -0.09 (NI 1.70b - CFO 4.37b) / TA 31.2b) |
| Beneish M = -3.00 (Cap -4..+1) = A |
As of June 29, 2026, the stock is trading at USD 189.00 with a total of 1,569,183 shares traded. Over the past week, the price has changed by +9.52%, over one month by +7.16%, over three months by -3.31% and over the past year by +9.53%.
Current recommended Stop Loss: 179.40 (which is 5.1% or 1.4 ATR below the current price).
Tenet Healthcare has received a consensus analysts rating of 4.55. Therefore, it is recommended to buy THC.
- StrongBuy: 14
- Buy: 6
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 243.6 | 28.9% |
P/E Trailing = 8.9787
P/E Forward = 10.2249
P/S = 0.6928
P/B = 3.0878
P/EG = 4.2585
Revenue TTM = 21.5b USD
EBIT TTM = 3.99b USD
EBITDA TTM = 4.88b USD
Long Term Debt = 13.1b USD (from longTermDebt, last quarter)
Short Term Debt = 81.0m USD (from shortTermDebt, last quarter)
Debt = 13.2b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 10.2b USD (calculated: Debt 13.2b - CCE 2.97b)
Enterprise Value = 25.1b USD (14.9b + Debt 13.2b - CCE 2.97b)
Interest Coverage Ratio = 4.85 (Ebit TTM 3.99b / Interest Expense TTM 822.0m)
EV/FCF = 7.50x (Enterprise Value 25.1b / FCF TTM 3.35b)
FCF Yield = 13.34% (FCF TTM 3.35b / Enterprise Value 25.1b)
FCF Margin = 15.61% (FCF TTM 3.35b / Revenue TTM 21.5b)
Net Margin = 7.94% (Net Income TTM 1.70b / Revenue TTM 21.5b)
Gross Margin = 42.76% ((Revenue TTM 21.5b - Cost of Revenue TTM 12.3b) / Revenue TTM)
Gross Margin QoQ = 16.43% (prev 15.72%)
Tobins Q-Ratio = 0.80 (Enterprise Value 25.1b / Total Assets 31.2b)
Interest Expense / Debt = 6.22% (Interest Expense 822.0m / Debt 13.2b)
Taxrate = 16.29% (516.0m / 3.17b)
NOPAT = 3.34b (EBIT 3.99b * (1 - 16.29%))
Current Ratio = 1.36 (Total Current Assets 8.36b / Total Current Liabilities 6.15b)
Debt / Equity = 2.74 (Debt 13.2b / totalStockholderEquity, last quarter 4.81b)
Debt / EBITDA = 2.10 (Net Debt 10.2b / EBITDA 4.88b)
Debt / FCF = 3.06 (Net Debt 10.2b / FCF TTM 3.35b)
Total Stockholder Equity = 4.20b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.64% (Net Income 1.70b / Total Assets 31.2b)
RoE = 40.55% (Net Income TTM 1.70b / Total Stockholder Equity 4.20b)
RoCE = 23.02% (EBIT 3.99b / Capital Employed (Equity 4.20b + L.T.Debt 13.1b))
RoIC = 13.88% (NOPAT 3.34b / Invested Capital 24.1b)
WACC = 7.62% (E(14.9b)/V(28.1b) * Re(9.76%) + D(13.2b)/V(28.1b) * Rd(6.22%) * (1-Tc(0.16)))
Discount Rate = 9.76% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -100.00 | Cagr: -7.41%
[DCF] Terminal Value 77.97% ; FCFF base≈2.58b ; Y1≈2.96b ; Y5≈4.35b
[DCF] Fair Price = 641.0 (EV 65.5b - Net Debt 10.2b = Equity 55.2b / Shares 86.1m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 98.68 | EPS CAGR: 50.39% | SUE: 1.30 | # QB: 2
Revenue Correlation: 78.20 | Revenue CAGR: 1.85% | SUE: -0.28 | # QB: 0
EPS current Quarter (2026-06-30): EPS=4.18 | Chg30d=-0.25% | Revisions=-33% | Analysts=19
EPS next Quarter (2026-09-30): EPS=4.10 | Chg30d=-0.14% | Revisions=-9% | Analysts=19
EPS current Year (2026-12-31): EPS=17.81 | Chg30d=+0.08% | Revisions=+65% | GrowthEPS=+6.1% | GrowthRev=+3.2%
EPS next Year (2027-12-31): EPS=17.73 | Chg30d=-0.52% | Revisions=+48% | GrowthEPS=-0.5% | GrowthRev=+1.6%
[Analyst] Revisions Ratio: +65%