THC
Tenet Healthcare Corp
$204.25
-2.52 (-1.22%)
At close · Jul 10
Market Cap
$17.59B
Shares
86,137,000
Price & Indicators
Indicators
Price
Panels
Event markers
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$204.25
Open$207.81
Day$201.26–208.88
52W$146.60–247.21
Avg vol 30d1.3M
Short int3.7M · 4.3% float · 2.9d
Short vol47%
Last earningsApr 30, 2026
DataJan 2020–Jul 2026
Filing10-Q · Apr 30
Up next
Next earnings call
Jul 30, 2026
Est · unconfirmed
· in 3 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Apr 30, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment advice
Overall
Buy
SellHoldBuy
Technical
Buy
Momentum
Strong
Sentiment
Neutral
Fundamentals
Strong
Quant / Vol
Moderate
Market backdrop
VIX 15 · calm
Equity put/call 0.55
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+3%
above
Price vs 50-day avg
+11%
above
RSI (14)
66
neutral
MACD trend
Positive
52-week position
57%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
+24%
trailing
6-month return
+1%
trailing
YTD return
+3%
this year
Relative strength
−8%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $184 › 200d $199 — 200d above 50d
Institutional flow
Distributing
38 of 684 funds reported for Jun 30 · net -13.5K sh shares · +5 new
Insider flow
Distributing
Net -$1.5M over 90 days · 100% sells
Short interest
Falling
4.34% of float · ▼ -7.9% MoM · 2.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
684 holders — near 3-yr high, broad support
Squeeze score
60
elevated · 0–100
Fundamentals
Revenue growth
+305%
Y/Y
EPS growth
−53%
Y/Y
Free cash flow
$2.5B
Valuation
P/E 10.6
below peers
Buyback
$1.2B
remaining
Balance sheet
$10.2B
net debt
Quant / Vol
risk profile
Volatility
41%
annualized · 1-yr
Max drawdown
−34%
past year
ATR
3.3%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Apr 30, 2026
Net operating revenues
· FY 2026
Initiated
$21.5B – $22.3B
prior FY $21.31B
midpoint +2.8% Y/Y
Net income available to Tenet common stockholders
· FY 2026
Initiated
$2.61B – $2.84B
Adjusted EBITDA
· FY 2026
Maintained
$4.49B – $4.79B
Adjusted EBITDA margin
· FY 2026
Initiated
20.9% – 21.5%
Diluted income per common share
· FY 2026
Initiated
$29.94 – $32.64
prior FY $15.49
midpoint +102.0% Y/Y
Adjusted net income
· FY 2026
Initiated
$1.43B – $1.63B
Adjusted diluted earnings per share
· FY 2026
Initiated
$16.38 – $18.68
Equity in earnings of unconsolidated affiliates
· FY 2026
Initiated
$265M – $275M
Depreciation and amortization
· FY 2026
Initiated
$875M – $925M
Interest expense
· FY 2026
Initiated
$800M – $810M
Income tax expense
· FY 2026
Initiated
$985M – $1.06B
Net income available to NCI
· FY 2026
Initiated
$910M – $960M
Net cash provided by operating activities
· FY 2026
Initiated
$3.64B – $4.09B
Adjusted net cash provided by operating activities
· FY 2026
Initiated
$3.2B – $3.6B
Capital expenditures
· FY 2026
Initiated
$700M – $800M
Free cash flow
· FY 2026
Initiated
$2.94B – $3.29B
Adjusted free cash flow
· FY 2026
Initiated
$2.5B – $2.8B
NCI cash distributions
· FY 2026
Initiated
$900M – $970M
Ambulatory Net operating revenues
· FY 2026
Lowered
$5.5B – $5.7B
prior FY $21.31B
midpoint −73.7% Y/Y
Ambulatory Adjusted EBITDA
· FY 2026
Initiated
$2.13B – $2.23B
Ambulatory NCI
· FY 2026
Initiated
$865M – $895M
Ambulatory Adjusted EBITDA less NCI
· FY 2026
Initiated
$1.27B – $1.34B
Ambulatory Same-facility system-wide revenues change versus prio
· FY 2026
Initiated
3% – 6%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+3%
Bullish
Price vs 50-day avg
+11%
Bullish
RSI (14)
66
Neutral
MACD trend
Positive
Bullish
52-week position
57%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $184 › 200d $199 — 200d above 50d
Institutional flow
Distributing
38 of 684 funds reported for Jun 30 · net -13.5K sh shares · +5 new
Insider flow
Distributing
Net -$1.5M over 90 days · 100% sells
Short interest
Falling
4.34% of float · ▼ -7.9% MoM · 2.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
684 holders — near 3-yr high, broad support
Price context
position in its 52-week range
52-wk low $147
Now $204 · 57%
52-wk high $247
vs 200-day avg +3%
vs 50-day avg +11%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from its earnings releases, calls, and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted diluted earnings per share non-GAAP | $4.82 | Q1 2026 | — |
| Adjusted EBITDA margin non-GAAP | 21.6% | Q1 2026 | — |
|
|
|||
| Adjusted free cash flow non-GAAP | $978M | Q1 2026 | — |
| Ambulatory Adjusted EBITDA less NCI non-GAAP | $291M | Q1 2026 | — |
| Ambulatory Adjusted EBITDA margin non-GAAP | 36.7% | Q1 2026 | — |
| Ambulatory Care Adjusted EBITDA non-GAAP | $484M | Q1 2026 | — |
|
|
|||
| Hospital Adjusted EBITDA non-GAAP | $678M | Q1 2026 | — |
| Hospital Adjusted EBITDA margin non-GAAP | 16.7% | Q1 2026 | — |
| Same-facility system-wide net patient service revenue per case growth | 5.6% | Q1 2026 | — |
| Same-facility system-wide net patient service revenues growth | 5.3% | Q1 2026 | — |
| adjusted pre-cash flow non-GAAP | $978M | Q1 2026 call | — |
| consolidated adjusted EBITDA non-GAAP | $1.16B | Q1 2026 call | — |
| hospital segment adjusted EBITDA non-GAAP | $678M | Q1 2026 call | — |
|
|
|||
| hospital segment EBITDA margin non-GAAP | 16.7% | Q1 2026 call | — |
| leverage ratio | 2.24 | Q1 2026 call | — |
| leverage ratio less NCI | 2.83 | Q1 2026 call | — |
| respiratory admissions decline | -41% | Q1 2026 call | — |
| Revenue per adjusted admissions change | -1.5% | Q1 2026 call | — |
| same hospital inpatient adjusted admissions growth | 0.6% | Q1 2026 call | — |
| share repurchase amount | $318M | Q1 2026 call | — |
| shares repurchased | 1.35M | Q1 2026 call | — |
| supplemental medicaid revenues | $304M | Q1 2026 call | — |
| USPI adjusted EBITDA non-GAAP | $484M | Q1 2026 call | — |
| USPI adjusted EBITDA margin non-GAAP | 36.7% | Q1 2026 call | — |
| USPI ASC acquisitions spend | $125M | Q1 2026 call | — |
| USPI net revenue per case growth | 5.6% | Q1 2026 call | — |
| USPI same facility case volumes growth | -0.3% | Q1 2026 call | — |
| USPI same facility revenues growth | 5.3% | Q1 2026 call | — |
| Adjusted EBITDA non-GAAP | $1.18B | Q4 2025 | — |
| Free cash flow non-GAAP | $2.53B | FY 2025 | — |
| Same-facility system-wide net patient service revenue per case | 5.5% | Q4 2025 | — |
| Same-hospital net patient service revenue per adjusted admission | 7.5% | Q4 2025 | — |
| Adjusted EBITDA guidance range (high end) non-GAAP | $4.57B | the year ended December 31, 2025 | — |
| Adjusted EBITDA guidance range (low end) non-GAAP | $4.47B | the year ended December 31, 2025 | — |
Figures exactly as the company stated them · click a metric with a to chart its history · period links open the stating document · "call" marks figures stated on the earnings call, "filing" figures stated in the 10-K/10-Q · YoY needs the prior-year figure on file
Versus peers
Medical Care Facilities — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
THC
this stock
Tenet Healthcare Corp
|
$17.59B | +2.8% | -2.3% | 10.6 | 4.3% |
|
HCA
HCA Healthcare, Inc.
|
$90.20B | -12.8% | +7.1% | 14.0 | 2.4% |
|
FSNUY
Fresenius SE & Co. KGaA
|
$27.44B | -15.0% | — | — | 0.0% |
|
DVA
Davita Inc.
|
$14.95B | +104.9% | +6.5% | 21.7 | 7.1% |
|
FMS
Fresenius Medical Care AG
|
$12.90B | +0.8% | — | — | 0.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| THC | +0.3% | +24.0% | +1.5% | +9.2% | +2.8% |
| SPY | +1.4% | +4.1% | +9.1% | +1.1% | +10.7% |
| vs SPY | -1.1% | +19.9% | -7.6% | +8.1% | -7.9% |
Capital returns
Buyback program
· as of Mar 31, 2026
Authorized
$1.50B
Spent (derived)
$328.00M
Remaining
$1.17B
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.