Tenet Healthcare Corporation (THC) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 8.36B | 7.85B | 7.81B | 7.3B | 7.91B | 7.68B | 8.76B | 7.96B | 7.82B | 7.17B | 6.36B | 6B | 5.87B | 5.98B | 6B | 6.06B | 6.13B | 7.08B | 6.91B | 7.42B |
| Cash & Short-Term Investments | 2.97B | 2.88B | 2.98B | 2.63B | 3B | 3.02B | 4.09B | 2.88B | 2.48B | 1.23B | 1.05B | 934M | 766M | 858M | 1.21B | 1.35B | 1.41B | 2.36B | 2.29B | 2.19B |
| Cash Only | 2.97B | 2.88B | 2.98B | 2.63B | 3B | 3.02B | 4.09B | 2.88B | 2.48B | 1.23B | 1.05B | 934M | 766M | 858M | 1.21B | 1.35B | 1.41B | 2.36B | 2.29B | 2.19B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.6B | 2.56B | 3.78B | 3.7B | 3.15B | 3.05B | 3.05B | 3.33B | 3.61B | 3.4B | 3.37B | 3.34B | 3.35B | 3.46B | 2.98B | 3.34B | 3.4B | 3.31B | 3.24B | 3.13B |
| Days Sales Outstanding | 43.34 | 52.79 | 65.05 | 59.16 | 53.47 | 55.39 | 57.32 | 61.89 | 59.46 | 57.9 | 60.94 | 59.95 | 61.07 | 59.39 | 60.55 | 66.17 | 63.64 | 61.97 | 59.88 | 58.62 |
| Inventory | 343M | 348M | 346M | 338M | 344M | 346M | 356M | 382M | 395M | 411M | 413M | 404M | 407M | 405M | 394M | 387M | 391M | 384M | 376M | 364M |
| Days Inventory Outstanding | 6.93 | 6.85 | 14.28 | 33.3 | 34.23 | 10.67 | 10.95 | 11.49 | 11.28 | 11.67 | 11.87 | 11.61 | 11.6 | 11.6 | 11.78 | 12.04 | 11.75 | 11.54 | 11.2 | 10.6 |
| Other Current Assets | 2.44B | 2.05B | 711M | 272M | 961M | 895M | 899M | 984M | 959M | 1.73B | 1.13B | 914M | 964M | 856M | 1.06B | 986M | 927M | 769M | 1B | 1.72B |
| Total Non-Current Assets | 22.85B | 21.83B | 21.61B | 21.4B | 21.32B | 21.25B | 20.61B | 21.31B | 21.09B | 21.14B | 21.23B | 21.16B | 21.2B | 21.18B | 21.08B | 20.56B | 20.52B | 20.5B | 19.01B | 19.15B |
| Property, Plant & Equipment | 6.25B | 6.32B | 6.09B | 6.02B | 5.99B | 7.09B | 5.55B | 5.86B | 5.86B | 7.32B | 6.26B | 6.27B | 6.32B | 7.59B | 6.29B | 6.26B | 6.3B | 7.43B | 6.16B | 6.17B |
| Fixed Asset Turnover | 0.85x | 0.89x | 0.87x | 0.88x | 0.80x | 0.80x | 0.90x | 0.87x | 0.81x | 0.79x | 0.81x | 0.81x | 0.72x | 0.72x | 0.77x | 0.74x | 0.69x | 0.71x | 0.79x | 0.78x |
| Goodwill | 11.39B | 11.2B | 11.16B | 10.94B | 10.79B | 10.69B | 10.59B | 10.8B | 10.57B | 10.31B | 10.41B | 10.35B | 10.26B | 10.12B | 9.98B | 9.48B | 9.35B | 9.26B | 8.66B | 8.66B |
| Intangible Assets | 1.32B | 1.35B | 1.35B | 1.37B | 1.4B | 1.4B | 1.37B | 1.41B | 1.4B | 1.37B | 1.4B | 1.41B | 1.43B | 1.42B | 1.44B | 1.46B | 1.49B | 1.5B | 1.48B | 1.52B |
| Long-Term Investments | 0 | 2.88B | 2.94B | 2.99B | 0 | 1.81B | 354M | 293M | 373M | 1.89B | 291M | 227M | 261M | 1.83B | 301M | 237M | 278M | 2.03B | 318M | 247M |
| Other Non-Current Assets | 3.81B | 84M | 0 | 0 | 3.07B | 194M | 2.71B | 2.86B | 2.87B | 180M | 2.86B | 2.9B | 2.91B | 192M | 3.01B | 3.06B | 3.11B | 224M | 2.25B | 2.28B |
| Total Assets | 31.2B | 29.68B | 29.42B | 28.7B | 29.24B | 28.94B | 29.37B | 29.27B | 28.91B | 28.31B | 27.59B | 27.16B | 27.07B | 27.16B | 27.08B | 26.62B | 26.65B | 27.58B | 25.91B | 26.57B |
| Asset Turnover | 0.18x | 0.19x | 0.18x | 0.18x | 0.18x | 0.17x | 0.17x | 0.18x | 0.19x | 0.19x | 0.19x | 0.19x | 0.19x | 0.18x | 0.18x | 0.17x | 0.17x | 0.18x | 0.19x | 0.19x |
| Asset Growth % | 6.72% | 2.56% | 0.16% | -1.93% | 1.14% | 2.2% | 6.46% | 7.76% | 6.8% | 4.26% | 1.9% | 2.01% | 1.56% | -1.53% | 4.49% | 0.21% | 0.36% | 1.75% | -1.05% | 1.2% |
| Total Current Liabilities | 6.15B | 4.46B | 4.56B | 4.27B | 4.45B | 4.31B | 5.54B | 5.49B | 5.42B | 4.76B | 4.43B | 4.15B | 4.22B | 4.48B | 4.28B | 4.37B | 4.67B | 5.11B | 5.38B | 5.07B |
| Accounts Payable | 1.34B | 1.36B | 1.36B | 1.36B | 1.33B | 1.29B | 1.26B | 1.27B | 1.33B | 1.41B | 1.2B | 1.25B | 1.19B | 1.5B | 1.24B | 1.08B | 1.11B | 1.3B | 1.1B | 1.08B |
| Days Payables Outstanding | 27.07 | 26.82 | 56.69 | 131.18 | 130.04 | 38.9 | 37.6 | 38.51 | 38.39 | 36.96 | 35.57 | 34.91 | 38.5 | 39.84 | 35.05 | 34 | 36.59 | 36.45 | 33.07 | 31.67 |
| Short-Term Debt | 81M | 79M | 85M | 84M | 88M | 92M | 95M | 102M | 107M | 120M | 141M | 141M | 148M | 145M | 131M | 125M | 132M | 135M | 125M | 127M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 86M | 76M | 76M | 110M | 111M | 474M | 776M | 959M | 1.22B | 1.05B |
| Other Current Liabilities | 3.64B | 1.81B | 3.09B | 2.65B | 2.64B | 2.76B | 3.1B | 3.26B | 2.92B | 3.01B | 2.73B | 2.49B | 2.56B | 2.5B | 2.54B | 2.46B | 2.39B | 2.51B | 2.67B | 2.58B |
| Current Ratio | 1.36x | 1.76x | 1.71x | 1.71x | 1.78x | 1.78x | 1.58x | 1.45x | 1.44x | 1.51x | 1.43x | 1.44x | 1.39x | 1.34x | 1.40x | 1.39x | 1.31x | 1.38x | 1.28x | 1.46x |
| Quick Ratio | 1.30x | 1.68x | 1.64x | 1.63x | 1.70x | 1.70x | 1.52x | 1.38x | 1.37x | 1.42x | 1.34x | 1.35x | 1.29x | 1.25x | 1.31x | 1.30x | 1.23x | 1.31x | 1.21x | 1.39x |
| Cash Conversion Cycle | 23.2 | 32.82 | 22.64 | -38.73 | -42.34 | 27.16 | 30.67 | 34.87 | 32.35 | 32.61 | 37.24 | 36.66 | 34.16 | 31.14 | 37.29 | 44.21 | 38.8 | 37.07 | 38.02 | 37.55 |
| Total Non-Current Liabilities | 16.2B | 16.24B | 16.16B | 16.13B | 16.13B | 16.08B | 15.76B | 15.9B | 15.82B | 18.04B | 17.98B | 18B | 18.04B | 18.07B | 18.23B | 18.14B | 17.57B | 18.21B | 16.85B | 18.29B |
| Long-Term Debt | 13.13B | 13.09B | 13.1B | 13.09B | 13.08B | 13.08B | 12.78B | 12.77B | 12.77B | 14.88B | 14.9B | 14.91B | 14.94B | 14.93B | 14.96B | 14.95B | 14.72B | 15.51B | 14.01B | 15.09B |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 199M | 0 | 269M | 230M | 226M | 227M | 260M | 245M | 231M | 326M | 278M | 243M | 220M | 217M | 235M | 161M | 36M | 36M | 29M | 29M |
| Other Non-Current Liabilities | 2.87B | 3.15B | 2.79B | 2.81B | 2.83B | 2.77B | 2.72B | 2.89B | 2.82B | 2.84B | 2.8B | 2.85B | 2.89B | 2.91B | 3.01B | 3.02B | 2.8B | 2.65B | 2.8B | 2.82B |
| Total Liabilities | 22.35B | 20.7B | 20.72B | 20.4B | 20.58B | 20.39B | 21.3B | 21.4B | 21.24B | 22.8B | 22.41B | 22.16B | 22.26B | 22.55B | 22.5B | 22.51B | 22.24B | 23.32B | 22.23B | 23.36B |
| Total Debt | 13.21B | 13.17B | 13.19B | 13.18B | 13.17B | 13.17B | 12.87B | 12.87B | 12.88B | 15B | 15.04B | 15.05B | 15.08B | 15.08B | 15.09B | 15.07B | 14.85B | 15.65B | 14.13B | 15.22B |
| Net Debt | 10.24B | 10.29B | 10.21B | 10.55B | 10.17B | 10.15B | 8.78B | 9.99B | 10.4B | 13.77B | 13.99B | 14.11B | 14.32B | 14.22B | 13.88B | 13.72B | 13.45B | 13.28B | 11.84B | 13.02B |
| Debt / Equity | 1.49x | 1.47x | 1.52x | 1.59x | 1.52x | 1.54x | 1.59x | 1.64x | 1.68x | 2.72x | 2.90x | 3.01x | 3.14x | 3.27x | 3.30x | 3.67x | 3.36x | 3.68x | 3.84x | 4.75x |
| Debt / EBITDA | 11.89x | 11.97x | 11.91x | 12.78x | 11.90x | 12.99x | 9.92x | 13.28x | 3.69x | 15.77x | 18.99x | 18.42x | 18.39x | 20.13x | 18.75x | 19.60x | 17.45x | 16.43x | 11.56x | 18.86x |
| Net Debt / EBITDA | 9.22x | 9.35x | 9.22x | 10.23x | 9.19x | 10.01x | 6.76x | 10.31x | 2.98x | 14.48x | 17.66x | 17.28x | 17.46x | 18.99x | 17.25x | 17.84x | 15.80x | 13.95x | 9.68x | 16.14x |
| Interest Coverage | 4.30x | 4.24x | 4.46x | 4.12x | 4.75x | 4.23x | 5.56x | 3.89x | 15.15x | 3.29x | 2.52x | 2.65x | 2.72x | 2.47x | 2.71x | 2.19x | 2.67x | 3.39x | 4.41x | 2.36x |
| Total Equity | 8.85B | 8.97B | 8.7B | 8.3B | 8.65B | 8.55B | 8.07B | 7.87B | 7.67B | 5.51B | 5.18B | 5B | 4.8B | 4.61B | 4.58B | 4.11B | 4.41B | 4.26B | 3.68B | 3.2B |
| Equity Growth % | 2.28% | 4.98% | 7.74% | 5.5% | 12.8% | 55.17% | 55.86% | 57.35% | 59.65% | 19.53% | 13.25% | 21.65% | 8.86% | 8.25% | 24.22% | 28.35% | 46.74% | 47.35% | 84.06% | 45.99% |
| Book Value per Share | 101.03 | 102.06 | 98.18 | 90.44 | 91.07 | 89.14 | 83.55 | 79.93 | 76.25 | 52.88 | 49.61 | 47.73 | 45.33 | 43.32 | 41.63 | 37.80 | 39.40 | 39.09 | 33.86 | 29.50 |
| Total Shareholders' Equity | 4.81B | 4.22B | 4.01B | 3.75B | 4.18B | 4.17B | 3.83B | 3.48B | 3.45B | 1.61B | 1.46B | 1.34B | 1.23B | 1.14B | 1.24B | 1.09B | 1.06B | 1.03B | 722M | 261M |
| Common Stock | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M |
| Retained Earnings | 5.12B | 4.42B | 4.04B | 3.7B | 3.41B | 3.01B | 2.69B | 2.22B | 1.96B | -192M | -436M | -537M | -660M | -803M | -905M | -1.04B | -1.07B | -1.21B | -1.46B | -1.91B |
| Treasury Stock | -5.26B | -4.94B | -4.74B | -4.64B | -3.89B | -3.54B | -3.54B | -3.41B | -3.14B | -2.86B | -2.75B | -2.75B | -2.71B | -2.66B | -2.41B | -2.41B | -2.41B | -2.41B | -2.41B | -2.41B |
| Accumulated OCI | -179M | -181M | -174M | -177M | -178M | -180M | -175M | -177M | -179M | -181M | -176M | -178M | -179M | -181M | -229M | -231M | -233M | -233M | -274M | -277M |
| Minority Interest | 4.04B | 4.75B | 4.69B | 4.55B | 4.47B | 4.38B | 4.24B | 4.39B | 4.22B | 3.9B | 3.72B | 3.66B | 3.57B | 3.47B | 3.34B | 3.02B | 3.36B | 3.23B | 2.96B | 2.94B |