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Tenet Healthcare THC Management fees — Net operating revenues

Discontinued — last reported Q4 '24

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HCAManaged Medicare — Revenues From Third Party Payers
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MOHService — Revenue
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HCAManaged Care And Other Insurers — Revenues From Third Party Payers
$9.08B+0.5%
PEA
PEAKOperating Segments — Management Fees Revenue

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:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Tenet Healthcare’s 10-K, filed February 18, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tenet Healthcare's management fees — net operating revenues?
Tenet Healthcare (THC) reported management fees — net operating revenues of $47M in Q4 2024.
How has Tenet Healthcare's management fees — net operating revenues changed year-over-year?
Tenet Healthcare's management fees — net operating revenues increased by 42.4% year-over-year, from $33M to $47M.
What is the long-term trend for Tenet Healthcare's management fees — net operating revenues?
Over 3 years (2021 to 2024), Tenet Healthcare's management fees — net operating revenues has grown at a 19.8% compound annual growth rate (CAGR), from $86M to $148M.
What does management fees — net operating revenues mean?
Total revenue earned from providing management and administrative services to other healthcare organizations.
How do you interpret management fees — net operating revenues?
An increase suggests successful scaling of service-based business lines and deeper market penetration in management consulting or operational support, while a decrease may indicate contract losses or pricing pressure in the service segment.
How does management fees — net operating revenues compare across companies?
Peers in the healthcare services sector often report this under 'Other Revenue' or 'Service Segment Revenue,' with benchmarks typically tied to the growth rate of the underlying client base and contract renewal success.