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Tenet Healthcare THC Debt-to-equity

Debt-to-equity at other companies

STERIS logo
STERISSTE
0.3×-0.1×
Cencora logo
CencoraCOR
3.6×-3.4×
Humana logo
HumanaHUM
0.8×0.0×
CVS Health logo
CVS HealthCVS
0.2×0.0×
GE HealthCare Technologies logo
GE HealthCare TechnologiesGEHC
0.0×
Centene logo
CenteneCNC
0.8×+0.1×

Other financials

Income statement

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Revenue$5.4B+2.8%
Operating income$1.3B+37.4%
Net income$906.0M+45.7%
EPS (diluted)$8.01+87.6%

Balance sheet

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Cash & equivalents$3.0B-1.1%
Total debt$13.3B+0.2%
Total equity$4.8B+15.1%
Total assets$31.2B+6.7%

Cash flow

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Operating cash flow$1.6B+101%
CapEx$180.0M+4.0%
Free cash flow$1.5B+128%

Valuation

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Market cap$14.86B
Enterprise value$25.19B
P/E5.6×
P/S0.7×

Profitability

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Operating margin18%+0.4pp
Net margin12.4%+0.9pp
FCF margin15.6%

Returns & leverage

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Return on equity58.9%-2.7pp
Current ratio1.4×-0.4×

Where this comes from

Calculated from Tenet Healthcare’s reported figures.

Based on the most recent quarter.

The official record: Tenet Healthcare’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tenet Healthcare's debt-to-equity?
Tenet Healthcare (THC) reported debt-to-equity of 2.8× in Q1 2026.
How has Tenet Healthcare's debt-to-equity changed year-over-year?
Tenet Healthcare's debt-to-equity decreased by 12.9% year-over-year, from 3.2× to 2.8×.
What is the long-term trend for Tenet Healthcare's debt-to-equity?
Over 4 years (2021 to 2025), Tenet Healthcare's debt-to-equity has grown at a -32.0% compound annual growth rate (CAGR), from 16.6× to 3.5×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.