Tenet Healthcare Corporation (THC) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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THC Revenue Growth
Revenue Breakdown (FY 2025)
THC's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
THC Revenue Analysis (2014–2025)
As of May 7, 2026, Tenet Healthcare Corporation (THC) generated trailing twelve-month (TTM) revenue of $21.45 billion, reflecting modest growth of +2.8% year-over-year. The most recent quarter (Q1 2026) recorded $5.37 billion in revenue, down 2.9% sequentially.
Looking at the longer-term picture, THC's 5-year compound annual growth rate (CAGR) stands at +3.9%, indicating moderate growth over time. The company achieved its highest annual revenue of $21.31 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows THC's business is primarily driven by Ambulatory Care (50%), and Hospital Operations (50%). With over half of revenue concentrated in Ambulatory Care, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including HCA (+7.1% YoY), CYH (+69.8% YoY), and UHS (+10.4% YoY), THC has underperformed the peer group in terms of revenue growth. Compare THC vs HCA →
THC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| THCCurrent | $21.5B | +2.8% | +3.9% | 16.1% | |
 HCA | $75.6B | +7.1% | +8.0% | 15.8% | |
 CYH | $12.5B | +69.8% | +1.2% | -79.4% | |
 UHS | $17.4B | +10.4% | +8.5% | 11.5% | |
 ENSG | $5.1B | +19.2% | +16.1% | 8.6% | |
 SEM | $5.5B | +29.2% | -0.3% | 6.1% |
THC Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $21.31B | +3.1% | $17.53B | 82.3% | $3.44B | 16.1% |
| 2024 | $20.66B | +0.6% | $8.21B | 39.7% | $5.96B | 28.8% |
| 2023 | $20.55B | +7.2% | $7.80B | 38.0% | $2.51B | 12.2% |
| 2022 | $19.17B | -1.6% | $7.05B | 36.8% | $2.33B | 12.2% |
| 2021 | $19.48B | +10.5% | $7.27B | 37.3% | $2.87B | 14.7% |
| 2020 | $17.64B | -4.5% | $6.23B | 35.3% | $1.99B | 11.3% |
| 2019 | $18.48B | +0.9% | $6.71B | 36.3% | $1.54B | 8.3% |
| 2018 | $18.31B | -4.5% | $6.66B | 36.4% | $1.64B | 8.9% |
| 2017 | $19.18B | -2.3% | $6.79B | 35.4% | $1.11B | 5.8% |
| 2016 | $19.62B | +5.3% | $7.14B | 36.4% | $1.25B | 6.4% |
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Start ComparisonTHC — Frequently Asked Questions
Quick answers to the most common questions about buying THC stock.
Is THC's revenue growth accelerating or slowing?
THC revenue growth slowed to +2.8%, below the 5-year CAGR of +3.9%. TTM revenue is $21.5B. The deceleration marks a shift from historical growth rates.
What is THC's long-term revenue growth rate?
Tenet Healthcare Corporation's 5-year revenue CAGR of +3.9% reflects the variable expansion pattern. Current YoY growth of +2.8% is near this long-term average.
How is THC's revenue distributed by segment?
THC reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.