What does market capitalization mean?

What the stock market says the company's equity is worth.

How do you interpret market capitalization?

A size and market-sentiment gauge, not a quality measure — interpret through valuation ratios (P/E, P/S) that relate it to fundamentals.

How does market capitalization compare across companies?

Comparable across companies as a size class; the input to every equity-price valuation multiple.

Tenet Healthcare THC Market capitalization

Market capitalization at other companies

HCA HealthcareHCA

$105.8B+24.4%

STERISSTE

$21.69B-2.6%

CencoraCOR

$61.11B+13.4%

HumanaHUM

$20.82B-34.8%

CVS HealthCVS

$91.37B+7.0%

GE HealthCare TechnologiesGEHC

$32.48B-12.0%

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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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×

Questions, answered.

What does market capitalization mean?: What the stock market says the company's equity is worth.
How do you interpret market capitalization?: A size and market-sentiment gauge, not a quality measure — interpret through valuation ratios (P/E, P/S) that relate it to fundamentals.
How does market capitalization compare across companies?: Comparable across companies as a size class; the input to every equity-price valuation multiple.