Tenet Healthcare THC Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net operating revenues by Business | ||||||
| Ambulatory Care | $1.32B-7.9% | $1.43B+12.4% | $1.28B+0.4% | $1.27B+6.4% | $1.19B-5.2% | |
| Hospital Operations | $4.05B-1.1% | $4.09B+2.0% | $4.01B+0.3% | $4B-0.7% | $4.03B+5.6% | |
| Net Income by Business | ||||||
| Ambulatory Care | $83M-23.1% | $108M+11.3% | $97M+4.3% | $93M+12.0% | $83M-18.6% | |
| Hospital Operations | $10M-16.7% | $12M+33.3% | $9M-25.0% | $12M0.0% | $12M-20.0% | |
| Equity, Including Portion Attributable to Noncontrolling Interest by Business | ||||||
| Ambulatory Care | $1.68B+6.1% | $1.59B+1.3% | $1.57B+3.5% | $1.51B+1.7% | $1.49B+3.0% | |
| Hospital Operations | $216M+2.4% | $211M+3.4% | $204M-5.1% | $215M+2.9% | $209M+2.0% | |
| Net income available to redeemable noncontrolling interests by Business | ||||||
| Ambulatory Care | $110M-12.0% | $125M+21.4% | $103M+1.0% | $102M+8.5% | $94M-15.3% | |
| Hospital Operations | $1M-96.4% | $28M0.0% | $28M+3.7% | $27M0.0% | $27M+3.8% | |
| Adjusted Earnings before Interest Tax Depreciation and Amortization by Business | ||||||
| Ambulatory Care | $484M-16.6% | $580M+17.9% | $492M-1.2% | $498M+9.2% | $456M-14.0% | |
| Hospital Operations | $678M+12.4% | $603M-0.7% | $607M-2.6% | $623M-11.9% | $707M+36.5% | |
| Total Assets by Business | ||||||
| Ambulatory Care | $13.27B+1.4% | $13.09B+1.6% | $12.89B+2.1% | $12.63B+2.2% | $12.35B+1.1% | |
| Hospital Operations | $17.93B+8.1% | $16.59B+0.3% | $16.53B+2.8% | $16.07B-4.8% | $16.88B+1.0% | |
| Other operating expenses, net by Business | ||||||
| Ambulatory Care | $200M-3.4% | $207M+7.3% | $193M+4.3% | $185M+3.4% | $179M+6.5% | |
| Hospital Operations | $922M-6.7% | $988M+6.7% | $926M-0.9% | $934M+2.5% | $911M0.0% | |
| Equity in earnings of unconsolidated affiliates by Business | ||||||
| Ambulatory Care | $51M-37.8% | $82M+30.2% | $63M+6.8% | $59M+9.3% | $54M-28.0% | |
| Hospital Operations | $0-100% | $1M0.0% | $1M-50.0% | $2M0.0% | $2M-33.3% | |
| Goodwill, Acquired During Period And Purchase Accounting Adjustments by Business | ||||||
| Ambulatory Care | $189M+373% | $40M-82.1% | $223M+49.7% | $149M+56.8% | $95M-7.8% | |
| Hospital Operations | $0— | $0— | $0— | $0— | $0— | |
| Salaries, wages and benefits by Business | ||||||
| Ambulatory Care | $330M-2.9% | $340M+7.6% | $316M+0.6% | $314M+6.4% | $295M-3.6% | |
| Hospital Operations | $1.84B-2.0% | $1.88B-0.3% | $1.89B+2.3% | $1.85B+1.2% | $1.82B+2.0% | |
| Goodwill by Business | ||||||
| Ambulatory Care | $8.69B+2.2% | $8.5B+0.5% | $8.46B+2.7% | $8.24B+1.8% | $8.09B+1.2% | |
| Hospital Operations | $2.7B0.0% | $2.7B0.0% | $2.7B0.0% | $2.7B0.0% | $2.7B0.0% | |
| Temporary Equity, Including Noncontrolling Interest by Business | ||||||
| Ambulatory Care | $2.08B+1.4% | $2.05B+0.6% | $2.04B+3.3% | $1.97B+1.2% | $1.95B+1.2% | |
| Hospital Operations | $58M-93.6% | $905M+3.0% | $879M+3.0% | $853M+3.3% | $826M+3.3% | |
| D&A by Business | ||||||
| Ambulatory Care | $41M-2.4% | $42M+16.7% | $36M+2.9% | $35M-10.3% | $39M+21.9% | |
| Hospital Operations | $188M-0.5% | $189M+3.8% | $182M+5.2% | $173M+3.6% | $167M+3.7% | |
| Supplies by Business | ||||||
| Ambulatory Care | $357M-8.0% | $388M+15.1% | $337M+1.5% | $332M+4.4% | $318M-3.6% | |
| Hospital Operations | $604M-2.9% | $622M+4.7% | $594M-1.0% | $600M+1.9% | $589M-1.8% | |
| CapEx by Business | ||||||
| Ambulatory Care | $32M-5.9% | $34M-10.5% | $38M+40.7% | $27M+8.0% | $25M+19.0% | |
| Hospital Operations | $148M-55.2% | $330M+36.4% | $242M+45.8% | $166M+12.2% | $148M-52.1% | |
| Net operating revenues by Product | ||||||
| Indemnity and other | $150M-3.8% | $156M-0.6% | $157M+29.8% | $121M+3.4% | $117M+41.0% | |
| Managed care | $2.39B-4.2% | $2.5B+5.3% | $2.37B-2.0% | $2.42B+1.0% | $2.4B+2.3% | |
| Medicaid | $356M-1.4% | $361M-10.6% | $404M+6.6% | $379M-0.3% | $380M+20.3% | |
| Medicare | $565M+6.8% | $529M+3.3% | $512M-3.4% | $530M-3.3% | $548M+9.6% | |
| Other revenues | $574M+4.9% | $547M-0.9% | $552M+0.7% | $548M-0.2% | $549M+0.5% | |
| Total | $3.47B-2.1% | $3.55B+2.5% | $3.46B+0.3% | $3.45B-0.8% | $3.48B+6.5% | |
| Uninsured | $9M+350% | $2M-86.7% | $15M— | $0-100% | $35M+45.8% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Tenet Healthcare break its business down?
- Tenet Healthcare (THC) reports net operating revenues by business across 2 parts — Ambulatory Care and Hospital Operations. Each is extracted from the segment footnotes and tracked over time.
- Where does Tenet Healthcare's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Tenet Healthcare's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
