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Tenet Healthcare THC Operating margin

Operating margin at other companies

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Universal Health ServicesUHS
11.5%+0.6pp
Community Health Systems logo
Community Health SystemsCYH
11.4%+4.5pp
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Nutex Health Inc.NUTX
43%+13.0pp
Surgery Partners, Inc. logo
Surgery Partners, Inc.SGRY
11.8%+1.2pp
BrightSpring Health Services, Inc. logo
BrightSpring Health Services, Inc.BTSG
2.7%+1.1pp
InfuSystem Holdings logo
InfuSystem HoldingsINFU
9.1%+3.0pp

Other financials

Income statement

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Revenue$5.6B+6.8%
Operating income$1.5B+82.4%
Net income$1.0B+100%
EPS (diluted)$9.84+213%

Balance sheet

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Cash & equivalents$2.2B-17.3%
Total debt$13.4B+1.1%
Total equity$4.7B+24.2%
Total assets$30.7B+6.9%

Cash flow

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Operating cash flow$585.0M-37.5%
CapEx$168.0M-13.0%
Free cash flow$417.0M-43.9%

Valuation

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Market cap$21.08B+49.8%
Enterprise value$32.31B+30.8%
P/E6.6×+0.8×
P/S+0.3×

Profitability

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Net margin14.6%+3.0pp
FCF margin13.9%

Returns & leverage

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Return on equity75.5%+9.1pp
Debt / equity2.9×-0.7×
Current ratio1.4×-0.3×

Where this comes from

Calculated from Tenet Healthcare’s reported figures.

Based on trailing twelve months.

The source filing: Tenet Healthcare’s 10-Q, filed July 29, 2026. Open the filing →

Filed
Jul 29, 2026, 4:27 PM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q4 2026
Accession
0000070318-26-000037

FAQ

What is Tenet Healthcare's operating margin?
Tenet Healthcare (THC) reported operating margin of 20.8% in Q2 2026.
How has Tenet Healthcare's operating margin changed year-over-year?
Tenet Healthcare's operating margin increased by 17.1% year-over-year, from 17.8% to 20.8%.
What is the long-term trend for Tenet Healthcare's operating margin?
Over 5 years (2020 to 2025), Tenet Healthcare's operating margin has grown at a 7.9% compound annual growth rate (CAGR), from 11.3% to 16.5%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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