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Tenet Healthcare THC Q3 2025 earnings

Reported October 28, 2025 · Before market open

Revenue$5.3BBeat by $33.6M
EPS$3.70Beat by $0.36
Revenue estimate$5.3B
EPS estimate$3.34

Next report

Oct 27, 2026 (in 2 months)
Revenue estimate$5.5B
EPS estimate$4.66

Financials

Q3 2025

Income statement

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Revenue$5.3B+3.3%
Operating income$889.0M-18.4%
Net income$579.0M-15.0%
EPS (diluted)$3.86-21.1%

Balance sheet

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Cash & equivalents$3.0B-27.3%
Total debt$13.3B+2.4%
Total equity$4.0B+4.7%
Total assets$29.4B+0.2%

Cash flow

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Operating cash flow$1.1B+1.2%
CapEx$280.0M+29.6%
Free cash flow$778.0M-6.2%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$17.94B+12.6%
Enterprise value$28.24B+13.9%
P/E7.8×+3.8×
P/S0.9×+0.1×

Profitability

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Operating margin16.7%-11.3pp
Net margin11%-7.8pp

Returns & leverage

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Return on equity58.5%-90.6pp
Debt / equity3.3×-0.1×
Current ratio1.7×+0.1×

Segments

By product

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Total$3.5B+1.0%
Managed care$2.4B-2.1%
Other revenues$552.0M-1.1%
Medicare$512.0M+1.6%
Medicaid$404.0M+18.1%

By segment

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Hospital Operations$4.0B+0.7%
Ambulatory Care$1.3B+11.9%

FAQ

When did Tenet Healthcare report Q3 2025 earnings?
Tenet Healthcare (THC) reported Q3 2025 earnings on October 28, 2025 before market open.
What were Tenet Healthcare's Q3 2025 revenue and EPS?
Tenet Healthcare reported revenue of $5.3B and eps of $3.70 for Q3 2025.
Did Tenet Healthcare beat estimates in Q3 2025?
Revenue beat the consensus estimate of $5.3B by $33.6M. EPS beat the consensus estimate of $3.34 by $0.36.
How did Tenet Healthcare's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.3% from $5.1B a year earlier and eps grew 26.3% from $2.93.
Where can I find Tenet Healthcare's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000070318-25-000043) and the 10-Q periodic report (0000070318-25-000046) directly on SEC EDGAR. The filing index links above go to sec.gov.