How do you interpret conifer — contract with customer asset net noncurrent?

A higher balance indicates significant long-term service delivery that has not yet reached billing milestones.

How does conifer — contract with customer asset net noncurrent compare across companies?

Comparable to non-current contract assets for companies with multi-year service contracts.

Tenet Healthcare THC Conifer — Contract With Customer Asset Net Noncurrent

Discontinued — last reported Q3 '18

Similar metrics at other companies

MTCHANGI Homeservices — Contract With Customer Asset Net Noncurrent

$4.2M—

ATIReportable Legal Entities — Contract With Customer Asset Net Noncurrent

$16.1M—

MTCHANGI Homeservices — Contract With Customer Asset Net Current

$29.7M—

GEHCContract and other deferred assets

$1.16B+24.5%

EVRContract with Customer, Receivable, Net, Noncurrent

$143.57M+26.5%

MTCHANGI Homeservices — Capitalized Contract Cost Net Noncurrent

$4.2M—

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

Reported directly by Tenet Healthcare in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerAssetNetNoncurrent.

The official record: Tenet Healthcare’s 10-Q, filed November 5, 2018, on SEC EDGAR. View the filing →

Questions, answered.

What does conifer — contract with customer asset net noncurrent mean?: The value of long-term contract assets representing earned revenue that is not yet billable.
How do you interpret conifer — contract with customer asset net noncurrent?: A higher balance indicates significant long-term service delivery that has not yet reached billing milestones.
How does conifer — contract with customer asset net noncurrent compare across companies?: Comparable to non-current contract assets for companies with multi-year service contracts.