Zacks Investment Research·Sep 24, 2026
Can Tenet Healthcare Sustain Growth Despite Lower Surgical Volumes?THC's revenue growth persists despite softer surgical volumes, driven by higher revenue per case, acuity and favorable service mix.
Tenet Healthcare is executing a portfolio shift toward higher-acuity services and USPI ambulatory expansion, evidenced by 6.8% revenue growth in Q2 2026 and operating margin expansion to 18.2%. Aggressive capital returns, including $1.0B in buybacks in Q2 2026...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth reaccelerated to 6.8% in Q2 2026 with operating margin expanding to 18.2%, though gross margin volatility (18.2% vs 82.3% year-ago) reflects accounting treatment shifts.
Tenet Healthcare reported strong first-quarter 2026 results with net income available to common shareholders reaching $702 million, showing significant growth compared to the previous year.
Tenet's hospital foot traffic in April outpaced peers, indicating stronger-than-expected second-quarter volumes and operational resilience.
Tenet Healthcare executives presented at the Bank of America Global Healthcare Conference 2026, sharing updates and reinforcing investor confidence in the company's outlook.
Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 24, 2026 | $6.12+43.7% vs $4.26 | $5.6B+3.6% vs $5.4B |
Q3 2026 Jul 23, 2026 | $6.12+43.7% vs $4.26 | $5.6B+3.6% vs $5.4B |
Q2 2026 Apr 30, 2026 | $4.82+15.6% vs $4.17 | $5.4B-0.5% vs $5.4B |
Q1 2026 Feb 11, 2026 | $4.70+15.5% vs $4.07 | $5.5B+1.0% vs $5.5B |
THC's revenue growth persists despite softer surgical volumes, driven by higher revenue per case, acuity and favorable service mix.
RDVT, BTSG and THC made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on September 24th, 2026.
Tenet (THC) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
In the latest trading session, Tenet Healthcare (THC) closed at $256.44, marking a -2.14% move from the previous day.
Benchmark THC against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Tenet Healthcare Corporation (THC)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $258.62 | $22.28B | 16.70 | 3.12% | 6.6% | 16.06% | — | |
| $426.69 | $92.38B | 15.03 | 7.08% | 8.77% | — | — | |
| $2.72 | $383.54M | 0.72 | -1.18% | -1.34% | — | — | |
| $175.72 | $10.64B | 7.61 | 9.71% | 8.42% | 20.37% | — | |
| $171.78 | $10.01B | 29.41 | 18.72% | 6.9% | 16.51% | — | |
| $16.51 | $2.05B | 13.99 | 5.12% | 2.42% | 6.55% | — |
Tenet Healthcare Corporation (THC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Tenet Healthcare Corporation (THC) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 23, 2026·SEC
May 29, 2026·SEC
Apr 30, 2026·SEC
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Tenet Healthcare Corporation (THC) stock FAQ — growth, dividends, profitability & financials explained
Tenet Healthcare Corporation (THC) reported $21.81B in revenue for fiscal year 2025. This represents a 183% increase from $7.71B in 1995.
Tenet Healthcare Corporation (THC) grew revenue by 3.1% over the past year. Growth has been modest.
Yes, Tenet Healthcare Corporation (THC) is profitable, generating $2.24B in net income for fiscal year 2025 (6.6% net margin).
Tenet Healthcare Corporation (THC) has a return on equity (ROE) of 16.1%. This is reasonable for most industries.
Tenet Healthcare Corporation (THC) generated $3.02B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
