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Tenet Healthcare THC Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

Tenet Healthcare logo
Tenet HealthcareTHC
$148M0.0%
Tenet Healthcare logo
Tenet HealthcareTHC
$135M+17.4%
Tenet Healthcare logo
Tenet HealthcareTHC
$143M-27.8%
Tenet Healthcare logo
Tenet HealthcareTHC
$133M
Tenet Healthcare logo
Tenet HealthcareTHC
$3M-25.0%
Flowserve logo
FlowserveFLS
11.7%-4.0pp

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
Debt / equity2.8×-0.4×
Current ratio1.4×-0.4×

Where this comes from

Calculated from Tenet Healthcare’s reported figures.

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 invested capital?
Tenet Healthcare (THC) reported invested capital of $15.14B in Q1 2026.
How has Tenet Healthcare's invested capital changed year-over-year?
Tenet Healthcare's invested capital increased by 4.8% year-over-year, from $14.44B to $15.14B.
What is the long-term trend for Tenet Healthcare's invested capital?
Over 4 years (2021 to 2025), Tenet Healthcare's invested capital has grown at a 0.9% compound annual growth rate (CAGR), from $15.72B to $16.3B.
What does invested capital mean?
The capital — debt plus equity, net of idle cash — that funds the operating business.
How do you interpret invested capital?
A level, read mainly through ROIC (NOPAT ÷ invested capital). Growing invested capital is only good if returns on it stay above the cost of capital.
How does invested capital compare across companies?
Used as the base for ROIC; the definition is sector-sensitive, so banks and insurers are best excluded.