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Tenet Healthcare THC Net debt / EBITDA

Net debt / EBITDA at other companies

HCA Healthcare logo
HCA HealthcareHCA
3.1×-0.1×
STERIS logo
STERISSTE
-0.6×
Cencora logo
CencoraCOR
2.6×+1.2×
Humana logo
HumanaHUM
+1.6×
CVS Health logo
CVS HealthCVS
0.5×0.0×
GE HealthCare Technologies logo
GE HealthCare TechnologiesGEHC
3.3×+0.5×

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.

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 net debt / EBITDA?
Tenet Healthcare (THC) reported net debt / EBITDA of 2.2× in Q1 2026.
How has Tenet Healthcare's net debt / EBITDA changed year-over-year?
Tenet Healthcare's net debt / EBITDA decreased by 6.1% year-over-year, from 2.3× to 2.2×.
What is the long-term trend for Tenet Healthcare's net debt / EBITDA?
Over 4 years (2021 to 2025), Tenet Healthcare's net debt / EBITDA has grown at a -8.5% compound annual growth rate (CAGR), from 3.9× to 2.8×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.