Tenet Healthcare THC Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net operating revenues by Business | ||||||
| Ambulatory Care | $1.32B+10.6% | $1.43B+13.8% | $1.28B+11.9% | $1.27B+11.3% | $1.19B+20.0% | |
| Hospital Operations | $4.05B+0.5% | $4.09B+7.3% | $4.01B+0.7% | $4B+0.9% | $4.03B-7.9% | |
| Net Income by Business | ||||||
| Ambulatory Care | $83M0.0% | $108M+5.9% | $97M+19.8% | $93M+9.4% | $83M+13.7% | |
| Hospital Operations | $10M-16.7% | $12M-20.0% | $9M-35.7% | $12M0.0% | $12M+33.3% | |
| Equity, Including Portion Attributable to Noncontrolling Interest by Business | ||||||
| Ambulatory Care | $1.68B+13.2% | $1.59B+9.8% | $1.57B+12.8% | $1.51B+9.6% | $1.49B+13.8% | |
| Hospital Operations | $216M+3.3% | $211M+2.9% | $204M0.0% | $215M+7.0% | $209M+14.2% | |
| Net income available to redeemable noncontrolling interests by Business | ||||||
| Ambulatory Care | $110M+17.0% | $125M+12.6% | $103M+10.8% | $102M+14.6% | $94M+17.5% | |
| Hospital Operations | $1M-96.3% | $28M+7.7% | $28M+33.3% | $27M-15.6% | $27M+28.6% | |
| Adjusted Earnings before Interest Tax Depreciation and Amortization by Business | ||||||
| Ambulatory Care | $484M+6.1% | $580M+9.4% | $492M+12.1% | $498M+11.4% | $456M+15.7% | |
| Hospital Operations | $678M-4.1% | $603M+16.4% | $607M+12.6% | $623M+25.1% | $707M+12.2% | |
| Total Assets by Business | ||||||
| Ambulatory Care | $13.27B+7.4% | $13.09B+7.2% | $12.89B+7.1% | $12.63B+4.7% | $12.35B+4.6% | |
| Hospital Operations | $17.93B+6.2% | $16.59B-0.8% | $16.53B-4.6% | $16.07B-6.6% | $16.88B-1.2% | |
| Other operating expenses, net by Business | ||||||
| Ambulatory Care | $200M+11.7% | $207M+23.2% | $193M+15.6% | $185M+9.5% | $179M+22.6% | |
| Hospital Operations | $922M+1.2% | $988M+8.5% | $926M-1.9% | $934M-4.6% | $911M-9.6% | |
| Equity in earnings of unconsolidated affiliates by Business | ||||||
| Ambulatory Care | $51M-5.6% | $82M+9.3% | $63M+3.3% | $59M+1.7% | $54M-3.6% | |
| Hospital Operations | $0-100% | $1M-66.7% | $1M0.0% | $2M-33.3% | $2M-33.3% | |
| Goodwill, Acquired During Period And Purchase Accounting Adjustments by Business | ||||||
| Ambulatory Care | $189M+98.9% | $40M-61.2% | $223M+2,378% | $149M— | $95M— | |
| Hospital Operations | $0— | $0— | $0-100% | $0— | $0— | |
| Salaries, wages and benefits by Business | ||||||
| Ambulatory Care | $330M+11.9% | $340M+11.1% | $316M+1.9% | $314M+10.6% | $295M+24.5% | |
| Hospital Operations | $1.84B+1.1% | $1.88B+5.3% | $1.89B-1.0% | $1.85B-2.0% | $1.82B-12.5% | |
| Goodwill by Business | ||||||
| Ambulatory Care | $8.69B+7.4% | $8.5B+6.3% | $8.46B+7.2% | $8.24B+3.9% | $8.09B+4.6% | |
| Hospital Operations | $2.7B0.0% | $2.7B0.0% | $2.7B0.0% | $2.7B-6.0% | $2.7B-4.8% | |
| Temporary Equity, Including Noncontrolling Interest by Business | ||||||
| Ambulatory Care | $2.08B+6.6% | $2.05B+6.4% | $2.04B+8.8% | $1.97B+3.7% | $1.95B+5.5% | |
| Hospital Operations | $58M-93.0% | $905M+13.1% | $879M+13.4% | $853M-6.3% | $826M-6.0% | |
| D&A by Business | ||||||
| Ambulatory Care | $41M+5.1% | $42M+31.3% | $36M-5.3% | $35M+6.1% | $39M+25.8% | |
| Hospital Operations | $188M+12.6% | $189M+17.4% | $182M+6.4% | $173M-1.1% | $167M-5.6% | |
| Supplies by Business | ||||||
| Ambulatory Care | $357M+12.3% | $388M+17.6% | $337M+18.7% | $332M+11.0% | $318M+16.1% | |
| Hospital Operations | $604M+2.5% | $622M+3.7% | $594M-0.5% | $600M-1.5% | $589M-9.9% | |
| CapEx by Business | ||||||
| Ambulatory Care | $32M+28.0% | $34M+61.9% | $38M+35.7% | $27M+42.1% | $25M+38.9% | |
| Hospital Operations | $148M0.0% | $330M+6.8% | $242M+28.7% | $166M+31.7% | $148M-33.3% | |
| Net operating revenues by Product | ||||||
| Indemnity and other | $150M+28.2% | $156M+88.0% | $157M+6.1% | $121M-11.7% | $117M-24.0% | |
| Managed care | $2.39B-0.3% | $2.5B+6.6% | $2.37B-2.1% | $2.42B+1.7% | $2.4B-9.6% | |
| Medicaid | $356M-6.3% | $361M+14.2% | $404M+18.1% | $379M+2.4% | $380M-7.5% | |
| Medicare | $565M+3.1% | $529M+5.8% | $512M+1.6% | $530M+2.3% | $548M-10.2% | |
| Other revenues | $574M+4.6% | $547M+0.2% | $552M-1.1% | $548M0.0% | $549M+5.0% | |
| Total | $3.47B-0.2% | $3.55B+8.5% | $3.46B+1.0% | $3.45B+1.0% | $3.48B-9.6% | |
| Uninsured | $9M-74.3% | $2M-91.7% | $15M+50.0% | $0-100% | $35M+84.2% |
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.
