InsiderClue
Stocks · Health care · Services-General Medical & Surgical Hospitals, NEC

TENET HEALTHCARE CORP

THC Clue Score49
United States Fiscal year ends December CIK 0000070318
$263.78 +1.23% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $263.78 +325.45% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue21.07Operating income1.25Net income0.18EPS, diluted−1.93Fiscal year 2017Revenue20.61 −2.2%Operating income1.11Net income−0.32 −281.8%EPS, diluted−7.00Fiscal year 2018Revenue18.31 −11.2%Operating income1.64Net income0.46EPS, diluted1.00Fiscal year 2019Revenue18.48 +0.9%Operating income1.54Net income0.17 −62.7%EPS, diluted−2.08 −308.0%Fiscal year 2020Revenue17.64 −4.5%Operating income1.99Net income0.77 +349.1%EPS, diluted3.75Fiscal year 2021Revenue19.49 +10.5%Operating income2.87EPS, diluted8.42 +124.5%Fiscal year 2022Revenue19.17 −1.6%Operating income2.33EPS, diluted3.79 −55.0%Fiscal year 2023Revenue20.56 +7.2%Operating income2.51EPS, diluted5.71 +50.7%Fiscal year 2024Revenue20.68 +0.5%Operating income5.96EPS, diluted32.70 +472.7%Fiscal year 2025Revenue21.31 +3.1%Operating income3.51EPS, diluted15.49 −52.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 21.07 20.61 18.31 18.48 17.64 19.49 19.17 20.56 20.68 21.31
Growth −2.2% −11.2% +0.9% −4.5% +10.5% −1.6% +7.2% +0.5% +3.1%
Operating income 1.25 1.11 1.64 1.54 1.99 2.87 2.33 2.51 5.96 3.51
Net income 0.18 −0.32 0.46 0.17 0.77 n/a n/a n/a n/a n/a
Growth −281.8% −62.7% +349.1%
EPS, diluted −1.93 −7.00 1.00 −2.08 3.75 8.42 3.79 5.71 32.70 15.49
Growth −308.0% +124.5% −55.0% +50.7% +472.7% −52.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin5.9%Net margin0.8%Free cash flow margin−1.5%Fiscal year 2017Operating margin5.4%Net margin−1.6%Free cash flow margin2.4%Fiscal year 2018Operating margin8.9%Net margin2.5%Free cash flow margin2.4%Fiscal year 2019Operating margin8.3%Net margin0.9%Free cash flow margin3.0%Fiscal year 2020Operating margin11.3%Net margin4.4%Free cash flow margin16.3%Fiscal year 2021Operating margin14.7%Free cash flow margin4.7%Fiscal year 2022Operating margin12.2%Free cash flow margin1.7%Fiscal year 2023Operating margin12.2%Free cash flow margin7.9%Fiscal year 2024Operating margin28.8%Free cash flow margin5.4%Fiscal year 2025Operating margin16.5%Free cash flow margin11.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 5.9% 5.4% 8.9% 8.3% 11.3% 14.7% 12.2% 12.2% 28.8% 16.5%
Net margin 0.8% −1.6% 2.5% 0.9% 4.4% n/a n/a n/a n/a n/a
Free cash flow margin −1.5% 2.4% 2.4% 3.0% 16.3% 4.7% 1.7% 7.9% 5.4% 11.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.56Capital expenditure−0.88Free cash flow−0.32Buybacks0.00Fiscal year 2017Operating cash flow1.20Capital expenditure−0.71Free cash flow0.49Buybacks0.00Fiscal year 2018Operating cash flow1.05Capital expenditure−0.62Free cash flow0.43 −12.4%Fiscal year 2019Operating cash flow1.23Capital expenditure−0.67Free cash flow0.56 +30.3%Fiscal year 2020Operating cash flow3.41Capital expenditure−0.54Free cash flow2.87 +409.2%Buybacks0.00Fiscal year 2021Operating cash flow1.57Capital expenditure−0.66Free cash flow0.91 −68.3%Buybacks0.00Fiscal year 2022Operating cash flow1.08Capital expenditure−0.76Free cash flow0.32 −64.7%Buybacks−0.25Fiscal year 2023Operating cash flow2.37Capital expenditure−0.75Free cash flow1.62 +405.6%Buybacks−0.20Fiscal year 2024Operating cash flow2.05Capital expenditure−0.93Free cash flow1.12 −31.2%Buybacks−0.67Fiscal year 2025Operating cash flow3.54Capital expenditure−1.01Free cash flow2.53 +126.7%Buybacks−1.39
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.56 1.20 1.05 1.23 3.41 1.57 1.08 2.37 2.05 3.54
Capital expenditure −0.88 −0.71 −0.62 −0.67 −0.54 −0.66 −0.76 −0.75 −0.93 −1.01
Free cash flow −0.32 0.49 0.43 0.56 2.87 0.91 0.32 1.62 1.12 2.53
Growth −12.4% +30.3% +409.2% −68.3% −64.7% +405.6% −31.2% +126.7%
Buybacks 0.00 0.00 n/a n/a 0.00 0.00 −0.25 −0.20 −0.67 −1.39

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash0.72Shareholders’ equity0.42Fiscal year 2017Cash0.61Shareholders’ equity−0.15Fiscal year 2018Cash0.41Shareholders’ equity−0.12Fiscal year 2019Cash0.26Shareholders’ equity−0.42Fiscal year 2020Cash2.45Shareholders’ equity0.03Fiscal year 2021Cash2.36Shareholders’ equity1.03Fiscal year 2022Cash0.86Shareholders’ equity1.14Fiscal year 2023Cash1.23Shareholders’ equity1.61Fiscal year 2024Cash3.02Shareholders’ equity4.17Fiscal year 2025Cash2.88Shareholders’ equity4.22
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.72 0.61 0.41 0.26 2.45 2.36 0.86 1.23 3.02 2.88
Shareholders’ equity 0.42 −0.15 −0.12 −0.42 0.03 1.03 1.14 1.61 4.17 4.22

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
21.07 20.61 18.31 18.48 17.64 19.49 19.17 20.56 20.68 21.31
Growth −2.2% −11.2% +0.9% −4.5% +10.5% −1.6% +7.2% +0.5% +3.1%
1.25 1.11 1.64 1.54 1.99 2.87 2.33 2.51 5.96 3.51
Growth −10.7% +47.1% −6.1% +29.4% +44.3% −18.7% +7.6% +137.3% −41.1%
0.25 −0.10 0.63 0.32 0.67 1.89 1.35 1.62 5.25 2.80
0.07 0.22 0.17 0.16 −0.10 0.41 0.34 0.31 1.18 0.43
0.18 −0.32 0.46 0.17 0.77 n/a n/a n/a n/a n/a
Growth −281.8% −62.7% +349.1%
Per share
−1.93 −7.00 1.02 −2.08 3.80 8.55 3.84 6.01 33.02 15.61
−1.93 −7.00 1.00 −2.08 3.75 8.42 3.79 5.71 32.70 15.49
Growth −308.0% +124.5% −55.0% +50.7% +472.7% −52.6%
99.3 100.6 102.1 103.4 105.0 106.8 106.9 101.6 96.9 90.2
99.3 100.6 103.9 103.4 106.3 108.6 110.5 104.8 97.9 90.8
Growth +1.3% +3.3% −0.5% +2.8% +2.2% +1.8% −5.2% −6.6% −7.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 3.9% a year over five years, and earnings per share grew 32.8% a year.
  • The diluted share count fell 14.5% in five years, so buybacks did some of the work per share.
  • Operating margin is up 5.2 points on five years ago, at 16.5%.
  • A net loss in 1 of 5 years on file.