Tenet Healthcare Corp (THC) stock
THCNYSEServices-General Medical & Surgical Hospitals, NECFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 13/3036% below fair value
$286.86−6.11 (-2.09%)
Close on Nov 12, 2026Market cap $22.83BP/E 8.3Yield –
Tenet Healthcare operating margin
Operating margin is operating income as a percentage of revenue.
Tenet Healthcare's operating margin for the twelve months ending Sep 30, 2026 was 24.4%. For fiscal 2025 it was 16.5%, against 28.8% the year before. The highest annual figure on record is 28.8% in fiscal 2024.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 16.5% | −12.3 |
| FY2024 | Dec 31, 2024 | 28.8% | +16.6 |
| FY2023 | Dec 31, 2023 | 12.2% | +0.0 |
| FY2022 | Dec 31, 2022 | 12.2% | −2.6 |
| FY2021 | Dec 31, 2021 | 14.7% | +3.5 |
| FY2020 | Dec 31, 2020 | 11.3% | +3.0 |
| FY2019 | Dec 31, 2019 | 8.3% | −0.6 |
| FY2018 | Dec 31, 2018 | 8.9% | +3.1 |
| FY2017 | Dec 31, 2017 | 5.8% | −0.6 |
| FY2016 | Dec 31, 2016 | 6.4% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 31.1% | +14.3 |
| Q2 FY2026 | Jun 30, 2026 | 26.7% | +11.1 |
| Q1 FY2026 | Mar 31, 2026 | 24.1% | +6.1 |
| Q4 FY2025 | Dec 31, 2025 | 15.4% | −0.8 |
| Q3 FY2025 | Sep 30, 2025 | 16.8% | −4.4 |
| Q2 FY2025 | Jun 30, 2025 | 15.6% | +0.7 |
| Q1 FY2025 | Mar 31, 2025 | 18.1% | −43.1 |
| Q4 FY2024 | Dec 31, 2024 | 16.2% | +2.6 |
| Q3 FY2024 | Sep 30, 2024 | 21.2% | +10.0 |
| Q2 FY2024 | Jun 30, 2024 | 14.9% | +3.0 |
| Q1 FY2024 | Mar 31, 2024 | 61.2% | +49.2 |
| Q4 FY2023 | Dec 31, 2023 | 13.6% | +2.9 |
| Q3 FY2023 | Sep 30, 2023 | 11.2% | −1.2 |
| Q2 FY2023 | Jun 30, 2023 | 11.9% | −0.0 |
| Q1 FY2023 | Mar 31, 2023 | 12.0% | −1.6 |
| Q4 FY2022 | Dec 31, 2022 | 10.7% | −4.7 |
| Q3 FY2022 | Sep 30, 2022 | 12.4% | −8.3 |
| Q2 FY2022 | Jun 30, 2022 | 11.9% | +0.1 |
| Q1 FY2022 | Mar 31, 2022 | 13.7% | +2.8 |
| Q4 FY2021 | Dec 31, 2021 | 15.5% | −3.3 |
| Q3 FY2021 | Sep 30, 2021 | 20.7% | +14.8 |
| Q2 FY2021 | Jun 30, 2021 | 11.8% | −1.1 |
| Q1 FY2021 | Mar 31, 2021 | 10.9% | +3.6 |
| Q4 FY2020 | Dec 31, 2020 | 18.7% | +9.3 |
| Q3 FY2020 | Sep 30, 2020 | 5.9% | −0.7 |
| Q2 FY2020 | Jun 30, 2020 | 12.9% | +4.1 |
| Q1 FY2020 | Mar 31, 2020 | 7.2% | −1.1 |
| Q4 FY2019 | Dec 31, 2019 | 9.4% | +0.9 |
| Q3 FY2019 | Sep 30, 2019 | 6.6% | −0.5 |
| Q2 FY2019 | Jun 30, 2019 | 8.8% | −0.2 |
| Q1 FY2019 | Mar 31, 2019 | 8.4% | −2.6 |
| Q4 FY2018 | Dec 31, 2018 | 8.5% | −1.2 |
| Q3 FY2018 | Sep 30, 2018 | 7.1% | +6.0 |
| Q2 FY2018 | Jun 30, 2018 | 9.0% | +2.6 |
| Q1 FY2018 | Mar 31, 2018 | 11.0% | +5.5 |
| Q4 FY2017 | Dec 31, 2017 | 9.7% | – |
| Q3 FY2017 | Sep 30, 2017 | 1.1% | – |
| Q2 FY2017 | Jun 30, 2017 | 6.5% | – |
| Q1 FY2017 | Mar 31, 2017 | 5.5% | – |
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