Inside the research
Tenet Healthcare Corporation
THC Research profile · latest available data
Price overview
$259.71
▲ +10.17 (+4.1%)
| 52w hi | $280.77 |
|---|---|
| 52w lo | $161.37 |
| Vol | 735.10K |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.52
| Short | +0.31 |
|---|---|
| Medium | +0.65 |
| Long | +0.68 |
computed 2026-09-27
Key fundamentals
Tenet Healthcare Corporation
Healthcare · Medical Care Facilities
| Market cap | $20.91B |
|---|---|
| Enterprise value | $36.03B |
| Trailing P/E | 10.04x |
| Forward P/E | 12.31x |
| EV / EBITDA | 7.44x |
| P / S (ttm) | 0.96x |
| Profit margin | 10.3% |
| Return on equity | 37.3% |
| Revenue growth | +6.8% |
| Earnings growth | +213.4% |
| Debt / equity | 152.28 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.37 | |
| Sector | +0.08 | |
| Technical | +0.28 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies. The company also provides intensive and critical care, and/or coronary care units; cardiovascular, digestive disease, neurosciences, musculoskeletal, and obstetrics services; outpatient services, including physical therapy; tertiary care services, such as cardiothoracic surgery, complex spinal surgery, neonatal intensive care, and neurosurgery services; pediatric quaternary care services through heart, liver, and kidney transplants programs; and limb salvaging vascular procedure, acute level 1 trauma, intravascular stroke care, minimally invasive cardiac valve replacement, imaging technology, surgical robotic, and telemedicine access services. In addition, it offers a range of procedures and services comprising orthopedics, total joint replacement, and spinal and other musculoskeletal procedures; gastroenterology; pain management; otolaryngology; ophthalmology; and urology. Further, the company operates acute care and specialty hospitals, off-campus emergency departments, imaging centers, urgent care centers, and micro-hospitals, as well as ambulatory surgery centers and surgical hospitals. Tenet Healthcare Corporation was founded in 1967 and is headquartered in Dallas, Texas.
Risk Metrics
| Beta vs SPX | 0.83 |
|---|---|
| Corr SPX | 0.30 |
| Annual vol | 44.0% |
| Annual ret | +32.1% |
| Sharpe | 0.73 |
| Max DD | -34.5% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $245.52 |
|---|---|
| High / Low | $288.00 / $210.00 |
| Median | $245.00 |
| Analysts | 21 |
| Strong Buy | 6 | |
|---|---|---|
| Buy | 14 | |
| Hold | 2 | |
| Sell | 0 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-05-05 | Barclays | → Overweight |
| 2026-05-05 | Baird | → Neutral |
| 2026-05-04 | Stephens & Co. | → Overweight |
| 2026-05-01 | Wells Fargo | → Overweight |
| 2026-05-01 | RBC Capital | → Outperform |
| 2026-05-01 | Keybanc | → Overweight |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-23 | Earnings Release, Exhibits | read |
| 2026-05-29 | Shareholder Vote | read |
| 2026-04-30 | Earnings Release, Exhibits | read |
| 2026-04-10 | Officer / Director Change, Exhibits | read |
| 2026-03-30 | Officer / Director Change, Exhibits | read |
| 2026-02-11 | Earnings Release, Exhibits | read |
| 2026-02-02 | Earnings Release, Reg FD Disclosure… | read |
| 2025-11-24 | Officer / Director Change | read |
| 2025-11-18 | Material Agreement, Material Obligation… | read |
| 2025-11-05 | Material Agreement, Material Obligation… | read |
| 2025-11-03 | Reg FD Disclosure, Other Material Event… | read |
| 2025-10-28 | Earnings Release, Exhibits | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 9 |
| Top-5 share | 95.2% |
| HHI | 2,414 (moderate) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| Fidelity / FMR LLC | $747.30M | 3.99M |
| State Street Corp | $514.71M | 2.75M |
| Citadel Advisors | $394.29M | 2.11M |
| AQR Capital Management | $198.27M | 1.07M |
| Capital Research / Capital World | $121.57M | 649.85K |
| Millennium Management | $89.29M | 477.29K |
| Bridgewater Associates | $7.93M | 42.38K |
| Norges Bank (Norway sovereign) | $1.71M | 9.13K |
| T. Rowe Price Group | $1.49M | 7.96M |
As of 2026-06-30
Dividends
| Yield (TTM) | 0.00% |
|---|---|
| $ / share (TTM) | $0.00 |
| 5y CAGR | — |
Annual dividend per share
| 1989 | $0.93 |
|---|---|
| 1990 | $3.51 |
| 1991 | $1.15 |
| 1992 | $1.25 |
| 1993 | $0.96 |
| 2000 | $0.03 |
SEC Filings
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $20.68B | -0.3% | |
| Operating income | $2.51B | +10.8% | |
| Cash from ops | $2.05B | +16.5% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $248.89 | $260.97 | $248.86 | $259.71 | 735.10K |
| Sep 24 | $258.55 | $259.51 | $249.38 | $249.54 | 575.80K |
| Sep 23 | $262.55 | $263.97 | $255.41 | $256.44 | 631.60K |
| Sep 22 | $263.06 | $265.20 | $261.30 | $262.06 | 781.90K |
| Sep 21 | $261.93 | $263.58 | $258.02 | $260.97 | 670.80K |
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