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Tenet Healthcare THC Hospital Operations — Other operating expenses, net

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$203M+9.7%

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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/S+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:OtherCostAndExpenseOperating.

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 itemThree Months Ended June 30, 2026 / Hospital OperationsThree Months Ended June 30, 2026 / Ambulatory CareThree Months Ended June 30, 2026 / TotalSix Months Ended June 30, 2026 / Hospital OperationsSix Months Ended June 30, 2026 / Ambulatory CareSix Months Ended June 30, 2026 / Total
Less:
Salaries, wages and benefits1,8933382,2313,7376684,405
Supplies6153699841,2197261,945
Other operating expenses, net9712031,1741,8934032,296
Adjusted EBITDA$762$5421,304$1,440$1,0262,466
Reconciliation of Adjusted EBITDA:
Revenue from contract termination413826
Depreciation and amortization(215)(444)

Item 1. Financial Statements (Unaudited)

FAQ

What is Tenet Healthcare's hospital operations — other operating expenses, net?
Tenet Healthcare (THC) reported hospital operations — other operating expenses, net of $971M in Q2 2026.
How has Tenet Healthcare's hospital operations — other operating expenses, net changed year-over-year?
Tenet Healthcare's hospital operations — other operating expenses, net increased by 4.0% year-over-year, from $934M to $971M.
What is the long-term trend for Tenet Healthcare's hospital operations — other operating expenses, net?
Over 3 years (2022 to 2025), Tenet Healthcare's hospital operations — other operating expenses, net has grown at a 1.8% compound annual growth rate (CAGR), from $3.56B to $3.76B.
What does hospital operations — other operating expenses, net mean?
Captures miscellaneous operating costs for the hospital segment, such as utilities, insurance, maintenance, and professional fees, net of any minor operating income offsets. It represents the overhead required to maintain hospital facilities and administrative functions.

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