Stock THC TENET HEALTHCARE CORPORATION
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Financials Tenet Healthcare Corporation

Equities

THC

US88033G4073

Healthcare Facilities & Services

Market Closed - Nyse
Other stock markets
 04:00:01 2024-05-02 pm EDT 		5-day change 1st Jan Change
118.9 USD +2.58% Intraday chart for Tenet Healthcare Corporation +21.98% +57.39%
May. 01 UBS Adjusts Tenet Healthcare Price Target to $150 From $137, Maintains Buy Rating MT
May. 01 RBC Raises Tenet Healthcare Price Target to $136 From $109, Maintains Outperform Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,951 4,213 8,751 5,275 7,674 11,618 - -
Enterprise Value (EV) 1 18,440 17,486 22,033 19,496 21,448 20,702 21,340 19,963
P/E ratio -17 x 10.6 x 9.7 x 12.9 x 13.2 x 4.4 x 13.5 x 12.4 x
Yield - - - - - - - -
Capitalization / Revenue 0.21 x 0.24 x 0.45 x 0.28 x 0.37 x 0.57 x 0.55 x 0.52 x
EV / Revenue 1 x 0.99 x 1.13 x 1.02 x 1.04 x 1.02 x 1 x 0.9 x
EV / EBITDA 6.81 x 5.56 x 6.33 x 5.62 x 6.06 x 5.78 x 5.73 x 5.05 x
EV / FCF 32.8 x 6.1 x 24.2 x 60.7 x 13.2 x 7.99 x 14.7 x -
FCF Yield 3.05% 16.4% 4.13% 1.65% 7.57% 12.5% 6.81% -
Price to Book -10.7 x 151 x 8.52 x 2.03 x 2.42 x 2.16 x 1.87 x 1.62 x
Nbr of stocks (in thousands) 103,895 105,517 107,126 108,123 101,552 97,683 - -
Reference price 2 38.03 39.93 81.69 48.79 75.57 118.9 118.9 118.9
Announcement Date 2/24/20 2/9/21 2/7/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 18,479 17,640 19,485 19,174 20,548 20,327 21,259 22,169
EBITDA 1 2,706 3,146 3,483 3,469 3,541 3,583 3,723 3,952
EBIT 1 1,856 2,289 2,628 2,628 2,671 2,779 2,882 3,155
Operating Margin 10.04% 12.98% 13.49% 13.71% 13% 13.67% 13.56% 14.23%
Earnings before Tax (EBT) 1 296 671 1,888 1,344 1,617 4,374 1,977 2,213
Net income 1 -232 399 914 411 611 2,729 890.8 964.2
Net margin -1.26% 2.26% 4.69% 2.14% 2.97% 13.43% 4.19% 4.35%
EPS 2 -2.240 3.750 8.420 3.790 5.710 27.04 8.835 9.625
Free Cash Flow 1 563 2,867 910 321 1,623 2,590 1,452 -
FCF margin 3.05% 16.25% 4.67% 1.67% 7.9% 12.74% 6.83% -
FCF Conversion (EBITDA) 20.81% 91.13% 26.13% 9.25% 45.83% 72.31% 39.01% -
FCF Conversion (Net income) - 718.55% 99.56% 78.1% 265.63% 94.91% 163.03% -
Dividend per Share 2 - - - - - - - -
Announcement Date 2/24/20 2/9/21 2/7/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 4,856 4,745 4,638 4,801 4,990 5,021 5,082 5,066 5,379 5,368 4,979 4,857 5,139 5,430 5,224
EBITDA 1 1,017 888 843 841 897 832 843 854 1,012 1,024 859.4 822.9 928.4 955.5 904.1
EBIT 1 816 685 627 632 684 615 630 630 796 816 648 620.5 722.8 740.2 702.4
Operating Margin 16.8% 14.44% 13.52% 13.16% 13.71% 12.25% 12.4% 12.44% 14.8% 15.2% 13.01% 12.78% 14.07% 13.63% 13.45%
Earnings before Tax (EBT) 1 528 378 265 380 321 380 373 345 519 3,084 431 400 527.3 478.3 465.3
Net income 1 249 140 38 131 102 143 123 101 244 2,151 188 162 229.5 214 201
Net margin 5.13% 2.95% 0.82% 2.73% 2.04% 2.85% 2.42% 1.99% 4.54% 40.07% 3.78% 3.34% 4.47% 3.94% 3.85%
EPS 2 2.290 1.280 0.3500 1.160 0.9200 1.320 1.150 0.9400 2.300 21.38 1.822 1.648 2.192 2.284 2.002
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 2/7/22 4/20/22 7/21/22 10/20/22 2/9/23 4/25/23 7/31/23 10/30/23 2/8/24 4/30/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 14,489 13,273 13,282 14,221 13,774 9,084 9,721 8,344
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.354 x 4.219 x 3.813 x 4.099 x 3.89 x 2.536 x 2.611 x 2.111 x
Free Cash Flow 1 563 2,867 910 321 1,623 2,590 1,452 -
ROE (net income / shareholders' equity) 6.98% 31.5% 173% 68.6% 44.4% 28.6% 14.5% 15.4%
ROA (Net income/ Total Assets) 1.23% 3.34% 3.34% 2.72% 2.2% 6.1% 2.65% 3.02%
Assets 1 -18,891 11,958 27,342 15,118 27,734 44,736 33,607 31,962
Book Value Per Share 2 -3.560 0.2600 9.590 24.00 31.20 55.20 63.80 73.40
Cash Flow per Share 2 11.90 32.10 14.40 9.800 22.70 18.70 18.80 20.10
Capex 1 670 540 658 762 751 823 851 912
Capex / Sales 3.63% 3.06% 3.38% 3.97% 3.65% 4.05% 4% 4.11%
Announcement Date 2/24/20 2/9/21 2/7/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Tenet Healthcare Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
118.9 USD
Average target price
126.7 USD
Spread / Average Target
+6.50%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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