Tenet Healthcare Corporation (THC) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
Loading revenue history...
Revenue Growth Metrics
Revenue Breakdown (FY 2024)
THC's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
THC Revenue Analysis (2014–2025)
As of February 28, 2026, Tenet Healthcare Corporation (THC) generated trailing twelve-month (TTM) revenue of $21.31 billion, reflecting solid growth of +9.0% year-over-year. The most recent quarter (Q4 2025) recorded $5.53 billion in revenue, up 4.5% 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 Hospital Operations (55%), and Ambulatory Care (45%). With over half of revenue concentrated in Hospital Operations, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including HCA (+7.1% YoY), MPW (-2.7% YoY), and ACHC (+5.0% YoY), THC has underperformed the peer group in terms of revenue growth. Compare THC vs HCA →
Peer Comparison
Compare THC's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| THCCurrent | $21.3B | +9.0% | +3.9% | 16.5% | |
| HCA | $75.6B | +7.1% | +8.0% | 15.8% | |
| MPW | $972M | -2.7% | -4.9% | - | |
| ACHC | $3.3B | +5.0% | +9.7% | 11.7% | |
| ARDT | $6.0B | +10.9% | +23.2% | 6.8% | |
| CYH | $12.5B | -1.2% | +1.2% | 11.9% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $21.31B | +3.1% | $8.82B | 41.4% | $3.51B | 16.5% |
| 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% |
See THC's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs THC Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare THC vs AGIO
See how THC stacks up against sector leader Agios Pharmaceuticals, Inc..
Start ComparisonFrequently Asked Questions
Is THC's revenue growth accelerating or slowing?
THC maintains +9.0% revenue growth, in line with its 5-year CAGR of +3.9%. TTM revenue stands at $21.3B. Growth rate remains consistent with historical average.
What is THC's long-term revenue growth rate?
Tenet Healthcare Corporation's 5-year revenue CAGR of +3.9% reflects the sustained expansion pattern. Current YoY growth of +9.0% 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.