Stock Analysis
Tenet Healthcare Corporation NewTHC
P/E 9.60×· 5Y range 3.50–23.49×· 52th percentile of history
Sector: Healthcare · Industry: Services-General Medical & Surgical Hospitals, Nec
AnalystsStrong Buy27 analystsP/E 9.6× sits at the 52nd percentile of its 5.059548254620124-year history.
Cash covers 22% of debt · FY 2025.
PMP Verdict
High quality, fairly valued
Strengths
- Profitability85
- Quality84
Risks
- Growth46
Strong fundamentals at a reasonable valuation.
Market context
-2.9% today· Z 2.1σ
Bull Case
- ✓Piotroski F-Score 7/9 — high earnings quality
- ✓ROE 53.1% — efficient capital deployment
- ✓Interest coverage 15.1× — debt well covered
What's happening with THC
Profile
Strong valuation, profitability and earnings quality; moat and growth lag behind.
How is each axis scored?
- Valuation87/100 · Strong
- P/E vs own history (52th pct)12/25
- FCF yield (14.0%)25/25
- P/S (1.0x)25/25
- EV/EBIT (7.0x)25/25
- Growth46/100 · Weak
- Revenue CAGR (2.3%)6/25
- Net income CAGR (11.4%)20/25
- EPS CAGR 5Y (16.5%)20/25
- Fwd implied growth (-23.8%)0/25
- Profitability85/100 · Strong
- ROIC (24.7%)20/25
- ROE (53.1%)25/25
- Net margin (10.3%)20/25
- Operating margin (20.8%)20/25
- Financial Health66/100 · Moderate
- Altman Z (2.16)18/25
- Current ratio (1.76)18/25
- Interest coverage (15.1x)25/25
- Net cash / debt (D/A 35%)5/25
- Quality84/100 · Strong
- Piotroski F (7/9)22/25
- Beneish M (-2.82)25/25
- FCF conversion (135%)25/25
- Margin stability (σ 10.3%)12/25
- Moat42/100 · Weak
- ROIC >12% years (4/10 yrs)6/25
- Median gross margin (38.1%)13/25
- FCF-positive years (9/10 yrs)18/25
- Worst-year net margin (worst -3.4%)5/25
Risk Flags
- ⚠3 loss-making years in recent history
About Tenet Healthcare Corporation New
Tenet Healthcare is a Dallas-based healthcare services organization. Show more
It operates acute and specialty hospitals (50 as of December 2025) and hundreds of ambulatory surgery centers and other outpatient facilities across the US, primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
Headquarters: DALLAS, TX · Employees: 99,000 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
87AP/E (TTM)9.6xA
Grade A: CheapPrice / TTM EPS (own statements) — vs own 5Y history: 3.5x–23.5x · 52nd pct
P/FCF7.3xA
Grade A: CheapPrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative
FCF Yield14.0%A
Grade A: ValueTTM (OCF − CapEx) / Market Cap — vs own 5Y history: 3.6%–23.7% · 68th pct
P/S (TTM)0.99xA
Grade A: CheapPrice / TTM Revenue (own statements) — vs own 5Y history: 0.2x–1.1x · 97th pct
EV/EBIT7.0xA
Grade A: CheapEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 3.6x–10.7x · 37th pct
EV/Sales1.5xA
Grade A: CheapEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E12.6xA
Grade A: CheapPrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio5.10xC
Grade C: ExpensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio0.16A
Grade A: CheapFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield—
TTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio—
Dividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Profitability
85AROIC24.7%A
Grade A: MoatNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE53.1%A
Grade A: StrongReturn on Equity. Neg. equity = heavy buybacks
ROA7.4%C
Grade C: AverageReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin10.3%A
Grade A: HighNet Income / Revenue
Operating Margin20.8%C
Grade C: AverageTTM EBIT / TTM Revenue
Gross Margin40.4%C
Grade C: AverageGross Profit / Revenue
FCF Margin13.9%C
Grade C: AverageFCF / Revenue
True FCF Margin13.3%A
Grade A: HighTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost
Growth
46D+Revenue CAGR2.3%D
Grade D: LowCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR11.4%C
Grade C: OkCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)16.5%A
Grade A: HighCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth-23.8%D
Grade D: Decl.Analyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)-25.7%A
Grade A: BuybacksShare count change over 5Y
SBC / Net Income5.9%A
Grade A: LowStock-based comp/Net income. >30% = dilution risk
SBC / Revenue0.6%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
66BAltman Z-Score2.16C
Grade C: Gray zoneBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio1.76xC
Grade C: OkCurrent Assets/Liabilities
Quick Ratio1.28xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage15.1xA
Grade A: StrongEBIT/Interest. >10 Strong
Debt Repayment3.4yC
Grade C: AverageYears to repay net debt via FCF
Net Debt/EBIT2.3xC
Grade C: MedLeverage. <2x Low, >4x High
Debt/Equity3.12xD
Grade D: HighDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt0.22xD
Grade D: ThinCash covers how much of total debt. >1 = could repay all debt from cash
Quality
84APiotroski F-Score7/9A
Grade A: StrongFinancial strength 0–9. >7 Strong
Beneish M-Score-2.82A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion134.9%A
Grade A: StrongFCF / Net Income
Margin Stability10.3%C
Grade C: AverageEBIT margin std deviation. Lower = stable
Capex / Revenue4.5%A
Grade A: Asset-lightTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.73xC
Grade C: AverageRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
KERREY J ROBERT Filed | KERREY J ROBERT | SellOpen market sale | -2502 | |
KERREY J ROBERT Filed | KERREY J ROBERT | SellOpen market sale | -4025 | |
KERREY J ROBERT Filed | KERREY J ROBERT | SellOpen market sale | -5483 | |
MARK RICHARD J Filed | MARK RICHARD J | SellOpen market sale | -10000 | |
West Nadja Filed | West Nadja | SellOpen market sale | -1152 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Foo Lisa Y Filed | Foo Lisa Y | SellOpen market sale | -24000 | |
HANEY CECIL D Filed | HANEY CECIL D | Gift | -150 | |
Sutaria Saumya Filed | Sutaria Saumya | SellOpen market sale | -7899 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
42D+ROIC >12% Years4/10 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)38.1%C
Grade C: ModerateMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years9/10 yrsA
Grade A: DurableShare of completed fiscal years with positive free cash flow
Net Margin Floor-3.4%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$27.83
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$26.95
Cash & short-term investments per share (Finnhub)
Book Value / Share$57.86
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$13.17B
Total debt obligations (short + long term)
Cash & Equiv.$2.88B
Cash and short-term investments
Net Debt$10.29B
Total Debt minus Cash. Negative = Net Cash position
Total Equity$4.22B
Shareholders' equity (book value)
Asset / Liability1.43xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$21.52B
Current Market Capitalization
Beta1.23C
Grade C: VolatilePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 17, 2026
Key Insights: Tenet Healthcare Corporation New (THC)
THC is down 2.86% at the last close. Tenet Healthcare Corporation New meets 7 of 9 Piotroski F-Score criteria, placing its fundamental strength in the top tier of US-listed stocks. Altman Z-Score of 2.16 falls in the grey zone (1.81–2.99) — financial distress is unlikely but not ruled out. Beneish M-Score of -2.82 suggests a low likelihood of earnings manipulation.
- Takes ~3.4 years to repay net debt from free cash flow.
- Tenet Healthcare Corporation New posted a net loss in 3 of 10 available completed fiscal years (2016–2025).
- At a valuation score of 87/100, THC trades near the cheapest end of its own historical range (P/E 9.6).
- Return on equity of 53.1% is well above the market average.
See how THC ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all THC moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 16 | Regular | 266.25 | -3.23% | -2.36 |
| Oct 16 | After-hours | 267.25 | -2.86% | -2.11 |
| Oct 14 | After-hours | 278.52 | +4.35% | 2.84 |
| Sep 25 | Regular | 257.55 | +3.21% | 2.09 |
| Sep 25 | After-hours | 259.71 | +4.08% | 2.59 |
Frequently Asked Questions about THC
What is the current Tenet Healthcare Corporation New (THC) stock price?
THC is trading at $267.25 at the last market close, down 2.86% on the session. PreMarketPrice tracks THC pre-market, intraday and after-hours prices.
Is THC stock a buy right now?
PreMarketPrice's quantitative model rates Tenet Healthcare Corporation New's financial health at 66/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is THC stock overvalued?
Tenet Healthcare Corporation New trades at a trailing P/E of 9.6 and our valuation score rates it 87/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Tenet Healthcare Corporation New report earnings?
No confirmed earnings date is currently scheduled for THC. The Earnings section lists recent reports and updates as dates are announced.
What sector does Tenet Healthcare Corporation New operate in?
Tenet Healthcare Corporation New operates in the Healthcare sector, within the Services-General Medical & Surgical Hospitals, Nec industry. The Related Stocks section lists sector peers for comparison.
What does Tenet Healthcare Corporation New do?
Tenet Healthcare is a Dallas-based healthcare services organization.
About Tenet Healthcare Corporation New (THC) Stock
Tenet Healthcare Corporation New (THC) is a US-listed stock operating in the Healthcare sector, specifically the Services-General Medical & Surgical Hospitals, Nec industry. As of the latest update, Tenet Healthcare Corporation New is trading at $267.25, down 2.86% on the day with a market capitalization of $21.5 billion. The financial health score for THC is 66/100, which indicates good financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for THC stock.
THC Stock Analysis & Key Metrics
On PreMarketPrice, you can track Tenet Healthcare Corporation New (THC) across multiple dimensions:
- Pre-market price & movement: Real-time THC stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for THC with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Tenet Healthcare Corporation New across multiple reporting periods.
- Financial health score: A composite score of 66/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for THC.
- Sector peers: Compare THC against 4 other healthcare stocks on key financial metrics.
Is THC a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Tenet Healthcare Corporation New (THC) as an investment. The financial health score of 66/100 suggests good financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Tenet Healthcare Corporation New (THC) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.