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NYSE · Health careTenet Healthcare Corp (THC)
Tenet Healthcare Corp brought in $22.2B of revenue over the twelve months to September 30, 2026, up 6.2% from a year earlier. Net income was $2.9B, a net margin of 13.1%. Operating cash flow minus capital spending left $2.5B of free cash flow in fiscal 2025. At September 30, 2026 it held $2.7B in cash against $13.2B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 29, 2026.
Key facts about Tenet Healthcare Corp
- Net worth
- Tenet Healthcare Corp has a market value (market cap) of $23.4B at the latest share price, and shareholders' equity of $5.4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $21.3B (+3.1% year on year), with net income of $1.4B. Over the 12 months to September 30, 2026: revenue $22.2B, net income $2.9B.
- Cash flow
- In fiscal 2025 operations brought in $3.5B of cash; after $1B of capital spending, free cash flow was $2.5B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 29, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Tenet Healthcare Corp's next report is expected around February 1, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Tenet Healthcare Corp does
Tenet Healthcare Corp is registered with the SEC under industry code SIC 8062 (Services-General Medical & Surgical Hospitals, NEC). Its shares trade on NYSE under the ticker THC.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $21.3B | $1.4B | $15.49 | $2.5B |
| 2024 | $20.7B | $3.2B | $32.70 | $1.1B |
| 2023 | $20.6B | $611M | $5.71 | $1.6B |
| 2022 | $19.2B | $411M | $3.79 | $321M |
| 2021 | $19.5B | $914M | $8.42 | $910M |
| 2020 | $17.6B | $399M | $3.75 | $2.9B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where THC ranks in Health care
Latest SEC filings
What Tenet Healthcare Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 29, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 6.5% to $5.6B versus the same quarter last year; diluted EPS $12.41 versus $3.86.
- October 29, 2026
- September 22, 2026Material agreement8-KTenet Healthcare Corporation issued $2,000,000,000 in senior notes due 2034 to refinance existing debt.
- September 8, 2026
- September 4, 2026Passive stake changed SCHEDULE 13G/A
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 6, 2026Passive stake changed SCHEDULE 13G/A
- July 29, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 6.8% to $5.6B versus the same quarter last year; diluted EPS $9.84 versus $3.14.
- July 23, 2026
- May 29, 2026
What is THC worth? A DCF from its reported cash flow
Insider trades
What the people running Tenet Healthcare Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $40.5M worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 14, 2026 | Kerrey J RobertDirector | Sold | 5,483 | $1.4M |
| September 14, 2026 | Kerrey J RobertDirector | Sold | 4,025 | $1.1M |
| September 14, 2026 | Kerrey J RobertDirector | Sold | 2,502 | $662.1K |
| September 10, 2026 | Mark Richard JDirector | Sold | 10,000 | $2.6M |
| September 2, 2026 | West NadjaDirector | Sold | 1,152 | $298.1K |
| August 31, 2026 | Foo Lisa YEVP, Chief Operating Officer | Sold | 24,000 | $6.4M |
| August 28, 2026 | Haney Cecil DDirector | Gave as a gift | 150 | - |
| August 25, 2026 | Sutaria SaumyaCEO, Director | Sold | 17,220 | $4.7M |
Who owns THC
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| T. Rowe Price Associates, Inc.13G, passive | 9.2% | August 14, 2026 |
| Vanguard Capital Management13G, passive | 5.26% | April 30, 2026 |
Largest institutional holders
Insiders
16 insiders reported holding 650,661 shares in total, about $188.9M at the last price.
| Holder | Shares |
|---|---|
| Sutaria SaumyaCEO, Director | 433,564 |
| Bierman James LDirector | 31,604 |
| Romo TammyDirector | 28,284 |
| Mark Richard JDirector | 25,121 |
| West NadjaDirector | 23,653 |
| Park SunEVP & Chief Financial Officer | 19,438 |
| Arbour Paola MEVP, Chief Information Officer | 18,413 |
| Fitzgerald MeghanDirector | 17,087 |
| Haney Cecil DDirector | 12,403 |
| Fisher Richard WDirector | 9,632 |
Questions about THC
What does Tenet Healthcare Corp do?
Tenet Healthcare Corp is a company in the Health care sector, listed on NYSE as THC. Its shares trade on NYSE under the ticker THC.
What is Tenet Healthcare Corp's net worth?
Tenet Healthcare Corp has a market value (market cap) of $23.4B at the latest share price, and shareholders' equity of $5.4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Tenet Healthcare Corp profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $2.9B on revenue of $22.2B, a net margin of 13.1%.
How much revenue does Tenet Healthcare Corp make?
Over the twelve months to September 30, 2026 Tenet Healthcare Corp reported revenue of $22.2B. That is 6.2% more than a year earlier.
When did Tenet Healthcare Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 29, 2026. It covers the period to September 30, 2026.
When is Tenet Healthcare Corp's next earnings report?
Tenet Healthcare Corp's next report is expected around February 1, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Tenet Healthcare Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.