THC · Tenet Healthcare Corp
Key customers — 70% of revenue (the year ended December 31, 2025)
“For the year ended December 31, 2025, approximately 70%, or $9.696 billion, of our net patient service revenues for the hospitals and related outpatient facilities in our Hospital Operations segment was attributable to managed care payers, including Medicare and Medicaid managed care programs.”
10 customers — 69% of revenue (the year ended December 31, 2025)
“our top 10 managed care payers generated 69% of our managed care net patient service revenues for the year ended December 31, 2025.”
Key customers — 67% of receivables (At December 31, 2025)
“At December 31, 2025, 67% of our Hospital Operations segment’s net accounts receivable was due from managed care payers.”
Share-repurchase activity from the company's own XBRL filings — cash spent buying back common stock per fiscal year and per recent quarter, share counts where the company tagged them, and the buyback program's authorization — paired with the company's at-the-market (ATM) equity offering programs, the dilution side of the same picture. Repurchase amounts come exclusively from tagged SEC data; program figures with no tagged equivalent (untagged authorizations and all ATM figures) are read from the filing's own text and shown only after verification.
| Program Announced | Authorized | Remaining | As of | Runs Through | Source |
|---|---|---|---|---|---|
| 2026-07-23 | — | $2,130,000,000 | 2026-07-23 | — | 8-K , filed 2026-07-23 |
Cash spent on buybacks by quarter
Cash deployed each quarter. Δ marks quarters derived from the company's cumulative year-to-date disclosures.
Repurchase History
| Fiscal Year Ended | Cash Spent | Source | ||
|---|---|---|---|---|
| 2026-06-30 YTD | $1,360,000,000 | 10-Q, filed 2026-07-29 | ||
| 2025-12-31 | $1,386,000,000 | 10-K, filed 2026-02-17 | ||
| 2024-12-31 | $672,000,000 | 10-K, filed 2026-02-17 | ||
| 2023-12-31 | $200,000,000 | 10-K, filed 2026-02-17 | ||
| 2022-12-31 | $250,000,000 | 10-K, filed 2025-02-18 | ||
| 2021-12-31 | $0 | 10-K, filed 2024-02-16 | ||
| 2020-12-31 | $0 | 10-K, filed 2023-02-21 | ||
| 2017-12-31 | $0 | 10-K, filed 2018-02-26 | ||
| 2016-12-31 | $0 | 10-K, filed 2018-02-26 | ||
| 2015-12-31 | $40,000,000 | 10-K, filed 2018-02-26 | ||
| 2013-12-31 | $400,000,000 | 10-K, filed 2016-02-22 | ||
| 2012-12-31 | $126,000,000 | 10-K, filed 2015-02-23 | ||
| 2011-12-31 | $374,000,000 | 10-K, filed 2014-02-24 | ||