Tenet Healthcare THC Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net operating revenues by Business | ||||||
| Ambulatory Care | $5.3B+11.9% | $5.17B+14.1% | $5B+14.8% | $4.86B+17.0% | $4.73B+19.6% | |
| Hospital Operations | $16.16B+2.3% | $16.14B0.0% | $15.86B-4.7% | $15.83B-5.7% | $15.8B-6.8% | |
| Net Income by Business | ||||||
| Ambulatory Care | $381M+8.5% | $381M+11.7% | $375M+12.3% | $359M+12.2% | $351M+14.0% | |
| Hospital Operations | $43M-18.9% | $45M-10.0% | $48M+11.6% | $53M+43.2% | $53M+55.9% | |
| Equity, Including Portion Attributable to Noncontrolling Interest by Business | ||||||
| Ambulatory Care | $6.35B+11.4% | $6.15B+11.4% | $6.01B+11.3% | $5.83B+10.2% | $5.7B+10.5% | |
| Hospital Operations | $846M+3.3% | $839M+5.8% | $833M+7.8% | $833M— | $819M— | |
| Net income available to redeemable noncontrolling interests by Business | ||||||
| Ambulatory Care | $440M+13.7% | $424M+13.7% | $410M+16.8% | $400M+22.0% | $387M+26.9% | |
| Hospital Operations | $84M-20.8% | $110M+10.0% | $108M+14.9% | $101M+8.6% | $106M+27.7% | |
| Adjusted Earnings before Interest Tax Depreciation and Amortization by Business | ||||||
| Ambulatory Care | $2.05B+9.7% | $2.03B+11.9% | $1.98B+13.3% | $1.92B+14.8% | $1.87B+17.1% | |
| Hospital Operations | $2.51B+11.0% | $2.54B+16.2% | $2.46B+10.8% | $2.39B+10.5% | $2.26B+5.9% | |
| Total Assets by Business | ||||||
| Ambulatory Care | $51.88B+6.6% | $50.96B+5.9% | $50.08B+6.7% | $49.23B+7.4% | $48.66B+9.0% | |
| Hospital Operations | $67.12B-1.5% | $66.07B-3.3% | $66.21B-3.9% | $67.01B-0.5% | $68.15B+3.9% | |
| Other operating expenses, net by Business | ||||||
| Ambulatory Care | $785M+14.9% | $764M+17.5% | $725M+17.9% | $699M+20.4% | $683M+25.5% | |
| Hospital Operations | $3.77B+0.7% | $3.76B-2.2% | $3.68B-6.2% | $3.7B-7.0% | $3.75B-6.3% | |
| Equity in earnings of unconsolidated affiliates by Business | ||||||
| Ambulatory Care | $255M+2.8% | $258M+3.2% | $251M+2.9% | $249M+6.9% | $248M+9.3% | |
| Hospital Operations | $4M-55.6% | $6M-40.0% | $8M-27.3% | $8M-27.3% | $9M-10.0% | |
| Goodwill, Acquired During Period And Purchase Accounting Adjustments by Business | ||||||
| Ambulatory Care | $601M— | $507M— | $570M— | $356M— | —— | |
| Hospital Operations | $0— | $0— | —— | —— | —— | |
| Salaries, wages and benefits by Business | ||||||
| Ambulatory Care | $1.3B+8.8% | $1.27B+11.3% | $1.23B+14.8% | $1.23B+22.1% | $1.2B+24.5% | |
| Hospital Operations | $7.46B+0.8% | $7.44B-2.9% | $7.35B-7.3% | $7.37B-8.6% | $7.4B-9.9% | |
| Goodwill by Business | ||||||
| Ambulatory Care | $33.89B+6.2% | $33.29B+5.5% | $32.78B+6.6% | $32.21B+7.8% | $31.9B+10.3% | |
| Hospital Operations | $10.79B-1.6% | $10.79B-2.8% | $10.79B-6.3% | $10.79B-11.6% | $10.96B-13.8% | |
| Temporary Equity, Including Noncontrolling Interest by Business | ||||||
| Ambulatory Care | $8.14B+6.4% | $8.01B+6.1% | $7.89B+10.2% | $7.72B+14.6% | $7.65B+21.8% | |
| Hospital Operations | $2.7B-18.6% | $3.46B+2.9% | $3.36B-1.9% | $3.25B+13.5% | $3.31B+51.4% | |
| D&A by Business | ||||||
| Ambulatory Care | $154M+8.5% | $152M+13.4% | $142M+4.4% | $144M+10.8% | $142M+14.5% | |
| Hospital Operations | $732M+8.6% | $711M+3.9% | $683M-3.1% | $672M-7.4% | $674M-8.5% | |
| Supplies by Business | ||||||
| Ambulatory Care | $1.41B+14.9% | $1.38B+15.8% | $1.32B+17.8% | $1.26B+15.4% | $1.23B+16.4% | |
| Hospital Operations | $2.42B+1.0% | $2.41B-2.2% | $2.38B-4.5% | $2.39B-5.9% | $2.4B-6.5% | |
| CapEx by Business | ||||||
| Ambulatory Care | $131M+40.9% | $124M+44.2% | $111M+27.6% | $101M+27.8% | $93M+16.3% | |
| Hospital Operations | $886M+14.9% | $886M+4.9% | $865M+19.8% | $811M+17.5% | $771M+14.1% | |
| Net operating revenues by Product | ||||||
| Indemnity and other | $584M+20.4% | $551M+5.6% | $478M-17.3% | $469M-19.8% | $485M-19.7% | |
| Managed care | $9.69B+1.4% | $9.7B-1.2% | $9.54B-5.6% | $9.59B-6.1% | $9.55B-8.2% | |
| Medicaid | $1.5B+6.5% | $1.52B+5.9% | $1.48B-1.6% | $1.42B-3.6% | $1.41B+3.2% | |
| Medicare | $2.14B+3.2% | $2.12B-0.6% | $2.09B-5.9% | $2.08B-9.4% | $2.07B-13.0% | |
| Other revenues | $2.22B+0.9% | $2.2B+1.0% | $2.2B+0.8% | $2.2B+2.7% | $2.2B+3.7% | |
| Total | $13.94B+2.5% | $13.94B-0.2% | $13.66B-5.6% | $13.63B-6.9% | $13.6B-8.3% | |
| Uninsured | $26M-67.5% | $52M-18.8% | $74M+37.0% | $69M+4.5% | $80M-4.8% |
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.
