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Tenet Health
$269.13
-1.17% Oct 21 close
Health CareS&P 400 CompareTechnicals
-20%-5%+9%+24%+39%Oct 2025Oct 2026Apr 2026
THCSPY
1W
-0.9%
1M
+3.1%
3M
+37.8%
6M
+40.7%
YTD
+35.4%
1Y
+33.0%

Live chart

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What they do

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Healthcare · Medical Care Facilities

For information only · Important disclosures

Grades vs sector

Momentum
56th percentile in sector
C+
12-1 return: +23.8%
Percentile within its GICS sector across the S&P 1500.
Growth
41st percentile in sector
C
Revenue growth (YoY): +6.8%
Percentile within its GICS sector across the S&P 1500.
Value
83rd percentile in sector
A-
Forward E/P: 7.9% · EBITDA/EV: 13.2%
Percentile within its GICS sector across the S&P 1500.
Profitability
75th percentile in sector
B+
Profit margin: +10.3% · Return on equity: +37.3%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
Outside this model's universe or screens
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
No recent headlines.

Key stats

52-week range$161.37 – $280.77
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans undervalued
Model read-out from the numbers below, not advice. Score +1 (DCF counts double).
▲DCF (base case)above the price by 115%
▼Piotroski F-score3/9
▲Net debt / EBITDA0.4x

Discounted cash flow

Bear
$358
+33%
growth -1% · disc. 10.2% · term. 2.0%
Base
$578
+115%
growth 4% · disc. 9.2% · term. 2.5%
Bull
$880
+227%
growth 7% · disc. 8.2% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Not enough data to run a reverse DCF.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.00 (n/a) × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Health Care

P/E (trailing)
sector median 29.9×
–
Forward P/E
sector median 17.6×
–
EV / EBITDA
sector median 15.8×
–
Price / sales
sector median 3.1×
–
Price / book
sector median 3.5×
–
FCF yield
sector median 4.1%
–

Backlog (remaining performance obligations)

RPO
$1.7B
as of 2026-06-30
vs a year ago
-69%
YoY
× TTM revenue
0.08×
coverage
24-03
24-06
24-09
25-03
25-06
25-09
26-03
26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
–
Operating margin
20.8%
FCF margin
13.9%
Net margin
1.0%
Return on equity
4.5%
Return on invested capital
54.2%
Net debt / EBITDA
0.4×
Current ratio
1.4×
Interest cover
5.5×
Cash conversion (OCF/NI)
19.3×
Piotroski F-score 3/9 · last two fiscal years
✓ Positive net income✗ Positive operating cash flow✓ Return on assets improved✗ Cash flow above net income✗ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Analysts

No analyst targets available.

Annual history

FYRevenueNet incomeFree cash flow
2025$21.3B–$2.5B
2024$20.7B–$1.1B
2023$20.6B–$1.6B
2022$19.2B–$321.0M
2021$19.5B–$910.0M
2020$17.6B–$2.9B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +3.6%.

Earnings

Next report: 2026-10-29 · before open · EPS est 4.67
24-1025-0225-0425-0725-1026-0226-0426-070.006.12
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-07-234.266.12+43.5%
2026-04-304.174.82+15.7%
2026-02-114.074.70+15.6%
2025-10-283.353.70+10.5%
2025-07-222.874.02+40.1%
2025-04-293.134.36+39.2%
2025-02-122.833.44+21.4%
2024-10-292.372.93+23.6%
Insider trades
Kerrey J Robert
Director · 2026-09-14
Sell
$662.1K
Kerrey J Robert
Director · 2026-09-14
Sell
$1.1M
Kerrey J Robert
Director · 2026-09-14
Sell
$1.4M
Mark Richard J
Director · 2026-09-10
Sell
$2.6M
West Nadja
Director · 2026-09-02
Sell
$298.1K
Foo Lisa Y
EVP, Chief Operating Officer · 2026-08-31
Sell
$6.4M
Sutaria Saumya
Director, CEO · 2026-08-25
Sell
$2.2M
Sutaria Saumya
Director, CEO · 2026-08-25
Sell
$6.8M
Sutaria Saumya
Director, CEO · 2026-08-25
Sell
$4.7M
Sutaria Saumya
Director, CEO · 2026-08-24
Sell
$10.2M
Sutaria Saumya
Director, CEO · 2026-08-24
Sell
$3.7M
Haney Cecil D
Director · 2026-08-24
Sell
$361.4K

Stats refreshed 2026-10-21 18:06:15 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

Free. Not investment advice. Unsubscribe anytime.

coteau

Independent research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

Beta 0.9 · Oct 21, 2026