Tenet Healthcare (THC) Stock Overview
Operates as a diversified healthcare services company in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 0/6 |
| Past Performance | 5/6 |
| Financial Health | 4/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
THC Community Fair Values
Create NarrativeSee what 19 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Top Community Narratives
Tenet Healthcare
10.5% overvalued intrinsic discount
Tenet Healthcare: Why Behavioral Care Is Becoming a Core Growth Driver
View narrativeYI
Updated 31 Jan
Tenet Healthcare Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$265.78 |
| 52 Week High | US$283.05 |
| 52 Week Low | US$157.58 |
| Beta | 1.23 |
| 1 Month Change | 0.46% |
| 3 Month Change | 54.01% |
| 1 Year Change | 44.86% |
| 3 Year Change | 281.92% |
| 5 Year Change | 262.94% |
| Change since IPO | 7,947.24% |
Recent News & Updates
New Narrative • Sep 11
Higher Acuity Shift And Medicaid Dependence Will Shape Future Margin Compression
Catalysts About Tenet Healthcare Tenet Healthcare operates acute care hospitals and a large network of ambulatory surgery centers in the United States. What are the underlying business or industry changes driving this perspective?
Narrative Update • Sep 03
THC: High Acuity Focus And Heavy Buybacks Will Shape Balanced Outlook
Tenet Healthcare's analyst fair value estimate has been raised from $250.00 to $260.00. Analysts point to a series of higher Street price targets supported by Q2 earnings beats, raised EBITDA guidance, and confidence in the company's ambulatory surgery center exposure, hospital volume trends, cost controls, and capital deployment.Recent updates
New Narrative • Sep 11
Higher Acuity Shift And Medicaid Dependence Will Shape Future Margin Compression
Catalysts About Tenet Healthcare Tenet Healthcare operates acute care hospitals and a large network of ambulatory surgery centers in the United States. What are the underlying business or industry changes driving this perspective?Narrative Update • Sep 03
THC: High Acuity Focus And Heavy Buybacks Will Shape Balanced Outlook
Tenet Healthcare's analyst fair value estimate has been raised from $250.00 to $260.00. Analysts point to a series of higher Street price targets supported by Q2 earnings beats, raised EBITDA guidance, and confidence in the company's ambulatory surgery center exposure, hospital volume trends, cost controls, and capital deployment.
Narrative Update • Aug 19
THC: Q2 Margin Execution And ASC Mix Will Drive Further Upside
Analysts have raised the fair value estimate for Tenet Healthcare to $309 from $278.41, citing stronger modeled profit margins, slightly higher revenue growth assumptions, and a lower future P/E multiple. The revision is supported by recent price target increases that highlight execution, cost control, and differentiated outpatient exposure.Analysis Article • Aug 06
Tenet Healthcare's (NYSE:THC) Earnings Are Of Questionable Quality
Tenet Healthcare Corporation's ( NYSE:THC ) stock was strong after they recently reported robust earnings. We did some...Narrative Update • Aug 04
THC: High Acuity Strength And Buybacks Will Support Execution And Policy Risks
Tenet Healthcare's analyst fair value estimate has been raised from $210 to $250, as analysts respond to a wave of higher Street price targets that cite stronger execution, higher earnings estimates, and a willingness to assign a richer core P/E multiple to the stock. Analyst Commentary Recent Street research on Tenet Healthcare points to a broadly constructive stance, but there are still pockets of caution that matter if you are assessing risk and upside potential.Seeking Alpha • Jul 25
Tenet Healthcare's Ambulatory Growth Offsets Emerging Policy Headwinds
Summary Tenet Healthcare delivered another strong earnings beat, with non-GAAP EPS up 43.5% and operating margins expanding, driven by Ambulatory segment growth. Ambulatory revenue rose 10% year-over-year with 37.9% margins, offsetting weaker hospital segment growth and ACA exchange headwinds. FY2026 guidance was raised: revenue to $5.03B and adjusted free cash flow to $3.025B, supporting a $2B increase in share repurchase authorization. I reiterate my Buy rating on THC, citing robust cash flow, low valuation (11.6x forward P/E), and resilient execution despite ongoing US healthcare policy uncertainty. Read the full article on Seeking AlphaNarrative Update • Jul 21
THC: Ambulatory And Healthcare Services Execution Will Support Upside Despite CMS Risk
Tenet Healthcare's updated analyst price target has edged lower by about $6 to roughly $278 per share. Analysts are factoring in slightly lower fair value and profit margin assumptions, modestly adjusted discount rates, and a mix of recent target cuts linked to hospital valuation multiples and regulatory risks, offset by some upward revisions tied to healthcare services earnings expectations.Narrative Update • Jun 15
THC: Deleveraging And Ambulatory Expansion Will Support Upside Despite CMS Headwinds
Analysts have trimmed Tenet Healthcare's price targets by $6 to $35 following the proposed CMS changes to supplemental Medicaid payments. The updated fair value framework now points to a modestly higher intrinsic estimate of $284.49 per share, supported by slightly adjusted discount rate, revenue growth, profit margin, and future P/E assumptions.Narrative Update • Jun 01
THC: Capital Return And Higher Acuity Focus Will Drive Future Upside
Narrative Update on Tenet Healthcare Analysts have trimmed their average price target for Tenet Healthcare by $4.87 to $283.13, reflecting more cautious assumptions around revenue, profit margins, discount rates, and potential future P/E multiples following recent research updates and regulatory commentary. Analyst Commentary Recent research has centered on proposed changes from the Centers for Medicare and Medicaid Services, particularly around supplemental Medicaid payments.Narrative Update • May 10
THC: Buybacks And Higher Acuity Demand Will Offset Cautious 2026 Margin Expectations
Tenet Healthcare's updated analyst price target has moved from $228.45 to $210.00 as analysts factor in a slightly higher discount rate, modestly adjusted revenue and margin assumptions, and lower future P/E expectations following a series of recent target cuts across the Street. Analyst Commentary Recent Street research around Tenet Healthcare reflects a clear shift toward more cautious positioning, with several bearish analysts trimming price targets and reassessing assumptions for valuation and execution risk.Narrative Update • Apr 21
THC: Capital Return And Higher Acuity Mix Will Drive Future Upside
Analysts have nudged their average price target on Tenet Healthcare higher, lifting it by several dollars to reflect updated post Q4 models that factor in an aging population, higher acuity surgery mix, and capital return potential highlighted across recent research. Analyst Commentary Recent research points to a broadly constructive tone around Tenet Healthcare, with several bullish analysts lifting price targets after the Q4 update and refreshed 2026 outlook.Narrative Update • Apr 07
THC: Buybacks And Higher Acuity Demand Will Support 2026 Earnings Mix
Tenet Healthcare's fair value estimate has moved modestly higher to $228.45 from $222.53 as analysts lift price targets into the $260 to $280 range, citing updated post Q4 models, expectations for easier near term earnings comparisons, and continued support from an aging population and higher acuity procedures. Analyst Commentary Street research has been active around Tenet Healthcare, with several firms updating models after the Q4 report and refreshed 2026 guidance.Narrative Update • Mar 24
THC: Capital Return And 2026 Guidance Will Drive Upside
Analyst price targets for Tenet Healthcare have moved higher into a $265 to $283 range, with analysts pointing to updated post-Q4 models, expectations for Q1 against relatively low guidance, and views on 2026 EBITDA growth and capital return potential as key supports for the shift. Analyst Commentary Bullish analysts are clustering around higher price targets in a tight US$265 to US$283 range, reflecting confidence in Tenet Healthcare's updated Q4 models, Q1 setup and multi year outlook.Narrative Update • Mar 08
THC: Buybacks And ACA Policy Outcomes Will Shape 2026 Earnings Mix
Analysts have lifted their blended price target for Tenet Healthcare by about $23 per share, citing updated models after Q4 results, 2026 guidance, and a series of higher targets across the Street. Analyst Commentary Recent research updates on Tenet Healthcare show a mix of enthusiasm about capital return and model updates after Q4 results, alongside some caution about policy risks and the operating setup heading into 2026.Narrative Update • Feb 22
THC: Capital Return And ACA Payor Mix Shifts Will Drive Upside
Analysts have lifted their implied fair value estimate for Tenet Healthcare to $288 from $260, reflecting updated models after recent Q4 results, 2026 guidance and a broad round of higher Street price targets tied to capital return potential and alignment with current market themes. Analyst Commentary Recent research updates show a cluster of bullish analysts lifting their price targets on Tenet Healthcare following the latest Q4 release and 2026 guidance.Narrative Update • Feb 08
THC: ACA Subsidy Outcomes And Payor Mix Shifts Will Drive Upside
Analysts have modestly reduced their fair value estimate for Tenet Healthcare from US$270 to US$260 as they factor in slightly lower profit margins, a higher assumed future P/E multiple of around 13x, and mixed policy and payor mix signals from recent Street research on ACA subsidies, exchange subsidies, and hospital demand into 2026. Analyst Commentary Recent Street research on Tenet Healthcare shows a mix of caution around policy risk and payor mix, but there is still a clear pocket of optimism where analysts see room for valuation support and execution upside.Narrative Update • Jan 25
THC: Hospital Demand Trends And ACA Subsidy Scenarios Will Drive Future Upside
Analysts have raised their fair value estimate for Tenet Healthcare from $213.18 to $270.00, citing updated models that reflect recent target revisions across Wall Street as well as ongoing discussion of ACA subsidies, payor mix headwinds, and hospital demand trends. Analyst Commentary Bullish analysts are largely focused on how recent model updates and policy expectations could support Tenet Healthcare’s valuation, even as views differ on specific price targets and policy odds.Narrative Update • Jan 10
THC: ACA Policy Risks And Buybacks Will Shape Future Earnings Mix
Analysts have trimmed their price targets on Tenet Healthcare by a few dollars to the high US$220s to low US$230s range, as they factor in a lower chance of Affordable Care Act subsidy extensions, potential payor mix headwinds, and a modest reset to future P/E assumptions, even as recent research still cites solid demand and supportive ACA trends for hospitals. Analyst Commentary Recent research on Tenet Healthcare clusters around a tight band of price targets in the high US$220s to low US$230s, with several firms fine tuning their models after Q3 updates and policy developments.Analysis Article • Jan 04
Tenet Healthcare Corporation (NYSE:THC) Might Not Be As Mispriced As It Looks
Tenet Healthcare Corporation's ( NYSE:THC ) price-to-earnings (or "P/E") ratio of 12.9x might make it look like a buy...Narrative Update • Dec 26
THC: Raised Guidance And Buybacks Will Shape Future Margin And Policy Balances
Analysts increased their price target on Tenet Healthcare by about $12 to approximately $200 per share, citing stronger long term growth assumptions, slightly lower perceived risk, and expectations for sustained margin expansion and higher future valuation multiples following a series of upbeat post earnings reassessments. Analyst Commentary Recent Street research on Tenet Healthcare has been broadly constructive, with multiple firms lifting price targets into the $230 to $252 range and reiterating positive ratings.Narrative Update • Dec 12
THC: Raised Guidance And Buybacks Will Shape A Balanced Risk Outlook
Analysts have raised their blended price target for Tenet Healthcare by roughly $50 to about $188 per share, reflecting stronger projected revenue growth, expanding profit margins, and higher long term earnings multiples supported by a wave of upward target revisions across the Street. Analyst Commentary Recent research updates reflect a broadly constructive view on Tenet Healthcare, with multiple firms lifting price targets into the mid 200s and reiterating positive ratings following strong Q3 results and raised guidance.Narrative Update • Oct 08
Demographic Trends And Technology Efficiency Will Transform Healthcare Delivery
Tenet Healthcare's analyst price targets have moved higher, with the average fair value estimate increasing by approximately $5 to $204.90 per share. Analysts cited favorable state-directed payment approvals, strong quarterly results, and a solid earnings outlook for the hospital group.Narrative Update • Sep 08
Demographic Trends And Technology Efficiency Will Transform Healthcare Delivery
Tenet Healthcare’s consensus price target was revised slightly higher to $199.48, as strong Q2 earnings and positive hospital sector sentiment drove analyst optimism, though some caution remains around 2026 estimates and cost pressures. Analyst Commentary Bullish analysts cite Tenet Healthcare's Q2 results exceeding expectations, leading to multiple price target increases.Seeking Alpha • Mar 20
Minimal Medicaid Exposure Puts Tenet Healthcare In A Good Position
Summary Tenet Healthcare is shifting focus to ambulatory service centers, showing strong earnings growth and improved margins despite policy uncertainties and high debt levels. 2024 saw a significant one-time gain, but non-GAAP figures indicate steady operational progress, with adjusted EBITDA margins rising to 19.3%. Medicaid cuts pose less risk to Tenet due to low exposure; the company’s strategic focus on ambulatory care further mitigates this concern. Tenet's substantial share repurchase plan and strong cash flow make it an undervalued buy, though debt remains a significant risk factor. Read the full article on Seeking AlphaShareholder Returns
| THC | US Healthcare | US Market | |
|---|---|---|---|
| 7D | -1.2% | -1.3% | -1.6% |
| 1Y | 44.9% | 19.1% | 12.1% |
Return vs Industry: THC exceeded the US Healthcare industry which returned 19.1% over the past year.
Return vs Market: THC exceeded the US Market which returned 12.1% over the past year.
Price Volatility
| THC volatility | |
|---|---|
| THC Average Weekly Movement | 7.3% |
| Healthcare Industry Average Movement | 7.1% |
| Market Average Movement | 6.8% |
| 10% most volatile stocks in US Market | 15.2% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: THC has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: THC's weekly volatility (7%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1967 | 88,500 | Saum Sutaria | www.tenethealth.com |
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
Tenet Healthcare Corporation Fundamentals Summary
| THC fundamental statistics | |
|---|---|
| Market cap | US$21.00b |
| Earnings (TTM) | US$2.24b |
| Revenue (TTM) | US$21.81b |
9.5x
P/E Ratio1.0x
P/S RatioIs THC overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| THC income statement (TTM) | |
|---|---|
| Revenue | US$21.81b |
| Cost of Revenue | US$12.73b |
| Gross Profit | US$9.09b |
| Other Expenses | US$6.85b |
| Earnings | US$2.24b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 27.83 |
| Gross Margin | 41.66% |
| Net Profit Margin | 10.27% |
| Debt/Equity Ratio | 144.6% |
How did THC perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/16 21:57 |
| End of Day Share Price | 2026/09/16 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Tenet Healthcare Corporation is covered by 34 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Hua Ha | Baird |
| Adam Feinstein | Barclays |
| Andrew Mok | Barclays |