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Tenet Healthcare THC Hospital Operations — Goodwill

Other segment segments

Ambulatory Care
$8.74B+6.1%

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Other financials

Income statement

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Revenue$5.6B+6.8%
Operating income$1.5B+82.4%
Net income$1.0B+100%
EPS (diluted)$9.84+213%

Balance sheet

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Cash & equivalents$2.2B-17.3%
Total debt$13.4B+1.1%
Total equity$4.7B+24.2%
Total assets$30.7B+6.9%

Cash flow

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Operating cash flow$585.0M-37.5%
CapEx$168.0M-13.0%
Free cash flow$417.0M-43.9%

Valuation

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Market cap$21.08B+49.8%
Enterprise value$32.31B+30.8%
P/E6.6×+0.8×
P/S1×+0.3×

Profitability

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Operating margin20.8%+3.0pp
Net margin14.6%+3.0pp
FCF margin13.9%—

Returns & leverage

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Return on equity75.5%+9.1pp
Debt / equity2.9×-0.7×
Current ratio1.4×-0.3×

Where this comes from

Reported directly by Tenet Healthcare in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Tenet Healthcare’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:27 PM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q4 2026
Accession
0000070318-26-000037
Line itemSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Hospital Operations:
Goodwill at beginning of period, net of accumulated impairment losses$2,697$2,697
Goodwill acquired during the period, net of purchase price allocation adjustments——
Goodwill at end of period, net of accumulated impairment losses2,6972,697
Ambulatory Care:
Goodwill at beginning of period8,5017,994
Goodwill acquired during the period, net of purchase price allocation adjustments242244
Goodwill related to assets held for sale and disposed or deconsolidated facilities(3)—

Item 1. Financial Statements (Unaudited)

FAQ

What is Tenet Healthcare's hospital operations — goodwill?
Tenet Healthcare (THC) reported hospital operations — goodwill of $2.7B in Q2 2026.
How has Tenet Healthcare's hospital operations — goodwill changed year-over-year?
Tenet Healthcare's hospital operations — goodwill decreased by 0.0% year-over-year, from $2.7B to $2.7B.
What is the long-term trend for Tenet Healthcare's hospital operations — goodwill?
Over 2 years (2023 to 2025), Tenet Healthcare's hospital operations — goodwill has grown at a -9.8% compound annual growth rate (CAGR), from $13.26B to $10.79B.
What does hospital operations — goodwill mean?
This represents the intangible asset value recorded when the purchase price of acquired hospital operations exceeds the fair value of identifiable net assets. It reflects the premium paid for brand reputation, patient networks, and synergies within the hospital segment.

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