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Tenet Healthcare THC Return on invested capital

Return on invested capital at other companies

HCA Healthcare logo
HCA HealthcareHCA
22.8%+2.3pp
STERIS logo
STERISSTE
9.4%+2.1pp
Cencora logo
CencoraCOR
21.2%-19.2pp
Humana logo
HumanaHUM
15.9%-9.7pp
CVS Health logo
CVS HealthCVS
7.1%-1.2pp
GE HealthCare Technologies logo
GE HealthCare TechnologiesGEHC
10.2%-2.2pp

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 trailing twelve months.

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 return on invested capital?
Tenet Healthcare (THC) reported return on invested capital of 26.1% in Q1 2026.
How has Tenet Healthcare's return on invested capital changed year-over-year?
Tenet Healthcare's return on invested capital increased by 2.6% year-over-year, from 25.5% to 26.1%.
What is the long-term trend for Tenet Healthcare's return on invested capital?
Over 3 years (2022 to 2025), Tenet Healthcare's return on invested capital has grown at a 27.0% compound annual growth rate (CAGR), from 10.6% to 21.7%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.