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TENET HEALTHCARE CORP THC

NYSE · stock · Services-General Medical & Surgical Hospitals, NEC · website · IPO 1981-05-22 · LEI

TENET HEALTHCARE CORP statistics & valuation

P / S0.8×
P / B2.7×
P / FCF6.4×
FCF margin11.9%
Return on capital13.9%
Graham number -43%$151.94

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($151.94); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
5.90% 5.40% 8.90% 8.30% 11.30% 14.70% 12.20% 12.20% 28.80% 16.50% 2016201720182019202020212022202320242025
Return on equity (%)
2016201720182019202020212022202320242025
Shares outstanding
99.3M 100.6M 103.9M 103.4M 106.3M 108.6M 110.5M 104.8M 97.9M 90.8M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2016201720182019202020212022202320242025
Free cash flow margin (%)
-1.50% 2.40% 2.40% 3.00% 16.30% 4.70% 1.70% 7.90% 5.40% 11.90% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
-$1.93 -$7.00 $1.00 -$2.08 $3.75 $8.42 $3.79 $5.71 $32.70 $15.49 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

TENET HEALTHCARE CORP trades at about 17.2× earnings — above its 10-year norm (10-year range 4.3×–352.3×, median 14.5×).

4.3× 352.3×

Shaded band = 10-year range (4.3×–352.3×); dot = today's 17.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin16.5%28.8%12.2%12.2%14.7%11.3%8.3%8.9%5.4%5.9%
FCF margin11.9%5.4%7.9%1.7%4.7%16.3%3.0%2.4%2.4%-1.5%
Current ratio1.761.781.511.341.381.471.211.201.291.30

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.