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%+0.4pp	16.5%-12.3pp	16.7%-11.3pp	17.8%-7.8pp	17.6%-7.2pp
Net margin	12.4%+0.9pp	11.1%-8.5pp	11%-7.8pp	11.6%-5.3pp	11.5%-4.6pp
EBITDA margin	22.1%+0.5pp	20.5%-12.3pp	20.6%-11.3pp	21.7%-7.9pp	21.6%-7.4pp
Free cash flow margin	15.6%—	11.9%—	——	——	——
Returns
Return on equity	58.9%-2.7pp	56.4%-84.2pp	58.5%-90.6pp	66.4%-80.3pp	61.6%-81.3pp
Return on assets	8.8%+0.7pp	8.1%-6.1pp	7.8%-6.1pp	8.3%-4.3pp	8.1%-3.9pp
Return on invested capital	26.1%+0.7pp	21.7%-14.5pp	25.7%-15.8pp	26.3%-10.4pp	25.5%-9.6pp
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×+0.1×	1.7×+0.3×	1.8×+0.3×
Quick ratio	1.3×-0.4×	1.7×0.0×	1.6×+0.1×	1.6×+0.3×	1.7×+0.3×
Cash ratio	0.5×-0.2×	0.6×-0.1×	0.7×-0.1×	0.6×+0.1×	0.7×+0.2×
Leverage
Debt-to-equity	2.8×-0.4×	3.5×0.0×	3.3×-0.1×	3.5×-0.2×	3.2×-0.6×
Debt-to-assets	0.4×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×
Net debt / EBITDA	2.2×-0.1×	2.8×+1.0×	2.4×+1.1×	2.4×+0.7×	2.3×+0.6×
Interest coverage	4.7×+0.2×	4.3×-2.9×	4.2×-2.7×	4.5×-1.6×	4.5×-1.3×
Per Share
Book value per share	$54.96+24.9%	$46.46+9.0%	$45.30+14.2%	$40.84+15.7%	$44.00+28.2%

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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.