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Tenet Healthcare THC Free cash flow margin

Free cash flow margin at other companies

HCA Healthcare logo
HCA HealthcareHCA
10.4%+3.5pp
STERIS logo
STERISSTE
16.4%+2.1pp
Cencora logo
CencoraCOR
1.1%+1.0pp
CVS Health logo
CVS HealthCVS
1.8%
GE HealthCare Technologies logo
GE HealthCare TechnologiesGEHC
7.2%
Centene logo
CenteneCNC
3.6%+2.7pp

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

Returns & leverage

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Return on equity58.9%-2.7pp
Debt / equity2.8×-0.4×
Current ratio1.4×-0.4×

Where this comes from

Calculated from Tenet Healthcare’s reported figures.

Based on trailing twelve months.

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 free cash flow margin?
Tenet Healthcare (THC) reported free cash flow margin of 15.6% in Q1 2026.
What is the long-term trend for Tenet Healthcare's free cash flow margin?
Over 3 years (2020 to 2025), Tenet Healthcare's free cash flow margin has grown at a -9.9% compound annual growth rate (CAGR), from 16.3% to 11.9%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.