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Tenet Healthcare THC Net patient service revenues — Net operating revenues

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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-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tenet Healthcare's net patient service revenues — net operating revenues?
Tenet Healthcare (THC) reported net patient service revenues — net operating revenues of $1.27B in Q1 2026.
How has Tenet Healthcare's net patient service revenues — net operating revenues changed year-over-year?
Tenet Healthcare's net patient service revenues — net operating revenues increased by 10.8% year-over-year, from $1.14B to $1.27B.
What is the long-term trend for Tenet Healthcare's net patient service revenues — net operating revenues?
Over 4 years (2021 to 2025), Tenet Healthcare's net patient service revenues — net operating revenues has grown at a 17.5% compound annual growth rate (CAGR), from $2.6B to $4.96B.
What does net patient service revenues — net operating revenues mean?
The total revenue earned from providing medical services to patients after accounting for insurance adjustments and discounts.
How do you interpret net patient service revenues — net operating revenues?
An increase indicates higher patient volume, improved service pricing, or a favorable shift in payer mix, while a decrease may signal lower utilization, increased competition, or unfavorable changes in reimbursement rates.
How does net patient service revenues — net operating revenues compare across companies?
Comparable to 'Net Patient Revenue' or 'Patient Service Revenue' reported by other large-scale hospital systems and healthcare providers.