Where do Tenet Healthcare's ratios come from?

Every ratio is computed from Tenet Healthcare's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Tenet Healthcare THC Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	18%+1.5pp	16.5%-0.2pp	16.7%-1.1pp	17.8%+0.2pp	17.6%-11.2pp
Net margin	12.4%+1.2pp	11.1%+0.1pp	11%-0.6pp	11.6%+0.1pp	11.5%-8.2pp
EBITDA margin	22.1%+1.6pp	20.5%-0.1pp	20.6%-1.1pp	21.7%+0.1pp	21.6%-11.2pp
Free cash flow margin	15.6%+3.7pp	11.9%—	——	——	——
Returns
Return on equity	58.9%+2.5pp	56.4%-2.1pp	58.5%-7.9pp	66.4%+4.7pp	61.6%-79.0pp
Return on assets	8.8%+0.7pp	8.1%+0.3pp	7.8%-0.5pp	8.3%+0.2pp	8.1%-6.1pp
Return on invested capital	26.1%+4.4pp	21.7%-4.0pp	25.7%-0.6pp	26.3%+0.9pp	25.5%-10.7pp
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Liquidity
Current ratio	1.4×-0.4×	1.8×0.0×	1.7×0.0×	1.7×-0.1×	1.8×0.0×
Quick ratio	1.3×-0.4×	1.7×0.0×	1.6×0.0×	1.6×-0.1×	1.7×0.0×
Cash ratio	0.5×-0.2×	0.6×0.0×	0.7×0.0×	0.6×-0.1×	0.7×0.0×
Leverage
Debt-to-equity	2.8×-0.8×	3.5×+0.2×	3.3×-0.2×	3.5×+0.4×	3.2×-0.4×
Debt-to-assets	0.4×-0.1×	0.5×+0.1×	0.5×0.0×	0.5×0.0×	0.5×-0.1×
Net debt / EBITDA	2.2×-0.6×	2.8×+0.4×	2.4×0.0×	2.4×+0.1×	2.3×+0.6×
Interest coverage	4.7×+0.4×	4.3×0.0×	4.2×-0.3×	4.5×+0.1×	4.5×-2.8×
Per Share
Book value per share	$54.96+18.3%	$46.46+2.6%	$45.30+10.9%	$40.84-7.2%	$44.00+3.3%

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Where do Tenet Healthcare's ratios come from?: Every ratio is computed from Tenet Healthcare's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.