THC's reported earnings and margins swing widely across quarters, with diluted EPS moving from 4.27 in 2025Q1 to 12.41 in 2026Q3 and gross margin shifting from roughly 82% to 62.5%, which suggests classification changes and M&A effects may be distorting the underlying trend.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Reported revenue growth and margins have been erratic, with operating margin ranging from 14.9% to 27.9% and net margin from 5.1% to 15.9%, suggesting that the underlying earnings trajectory is difficult to establish with confidence.
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 11/8/2026, 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) |
|---|---|---|
Q4 2026Latest Oct 29, 2026 | $6.64+41.9% vs $4.68 | $5.6B+2.6% vs $5.5B |
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 |
Tenet Healthcare raises its 2026 outlook as Q3 earnings surge, hospital margins improve and higher-acuity care drives ambulatory growth despite payer pressures.
Tenet Healthcare's Q3 earnings surge 79.5% on strong hospital performance and cost discipline, prompting higher 2026 EPS and EBITDA guidance.
Tenet Healthcare Corporation (THC) Q3 2026 Earnings Call Transcript
The headline numbers for Tenet (THC) give insight into how the company performed in the quarter ended September 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
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 |
|---|---|---|---|---|---|---|---|
| $283.33 | $24.41B | 7.88 | 3.12% | 12.71% | 32.11% | — | |
| $494.99 | $107.17B | 15.87 | 7.08% | 8.61% | — | 0.59% | |
| $2.21 | $311.63M | -0.58 | -1.18% | -2.34% | — | — | |
| $195.50 | $11.83B | 7.91 | 9.71% | 7.96% | 19.27% | 0.41% | |
| $181.08 | $10.55B | 26.91 | 18.72% | 7.03% | 16.61% | 0.14% | |
| $37.00 | $3.44B | -3.01 | 5.04% | -33.07% | -51.55% | — |
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)
Oct 29, 2026·SEC
Jul 23, 2026·SEC
May 29, 2026·SEC
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Tenet Healthcare Corporation (THC) stock FAQ — growth, dividends, profitability & financials explained
Tenet Healthcare Corporation (THC) reported $22.80B in revenue over the trailing twelve months. Revenue was $21.31B in fiscal year 2025. That is 177% more than the $7.71B of fiscal year 1995.
Tenet Healthcare Corporation (THC) grew revenue by 9.3% over the trailing twelve months, compared with the twelve months before.
Yes. Tenet Healthcare Corporation (THC) earned $2.90B in net income over the trailing twelve months (a 12.7% net margin).
Tenet Healthcare Corporation (THC) had a return on equity (ROE) of 32.1% over the trailing twelve months. That is well above the market's typical 10-15%.
Tenet Healthcare Corporation (THC) generated $3.33B in free cash flow over the trailing twelve months.
