THC FINANCIAL STATEMENTS

Tenet Healthcare Corporation — balance sheet, income statement and cash flow trends

THCTenet Healthcare Corporation

🇺🇸 USA · NYSE · Healthcare · Medical Care Facilities

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue21.5 B $+4.6%

Gross Profit9.2 B $-11.8%

Operating Income3.5 B $-3.1%

EBITDA4.9 B $+7.0%

Net Income1.7 B $+17.0%

Peer Comparison· Medical Care Facilities

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
THC	4.6%	42.8%	22.7%	7.9%
FME	-0.7%	26.0%	17.9%	4.9%
FRE	4.2%	25.2%	15.6%	6.4%
RHC	8.6%	10.6%	8.9%	1.6%
MPARK	13.0%	28.1%	27.7%	10.1%
SIA	16.7%	15.2%	17.2%	4.3%
Industry median	10.2%	27.7%	13.8%	3.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
THC	4.6%	42.8%	22.7%	7.9%
DVA	6.7%	31.1%	19.5%	5.6%
EHC	10.0%	58.8%	24.1%	10.0%
ENSG	19.2%	13.9%	11.3%	6.9%
UHS	10.4%	71.3%	15.7%	8.6%
CHE	2.1%	30.3%	16.5%	10.2%
Industry median	10.2%	27.7%	13.8%	3.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity4.8 B $18%
Current Liabilities6.2 B $23%
Long-term Liabilities16.2 B $60%

Key Figures

YoY change

Total Assets31.2 B $+6.7%

Total Liabilities22.4 B $+8.6%

Total Equity4.8 B $+15.1%

Cash & ST Investments3 B $-1.1%

Total Debt13.2 B $+0.3%

Net Debt10.2 B $+0.7%

Peer Comparison· Medical Care Facilities

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
THC	1.36	274.4%	2.10	15.4%
FME	1.20	83.3%	2.82	42.1%
FRE	1.27	60.2%	2.73	46.7%
RHC	0.90	347.6%	10.29	23.3%
MPARK	1.19	50.0%	0.92	46.9%
SIA	0.60	165.1%	6.97	32.1%
Industry median	1.26	59.9%	1.87	35.7%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
THC	1.36	274.4%	2.10	15.4%
DVA	1.42	-1,750.0%	4.62	-4.3%
EHC	1.17	110.6%	1.77	34.5%
ENSG	1.56	94.9%	2.77	42.2%
UHS	1.08	68.1%	1.79	48.0%
CHE	0.85	27.9%	0.53	55.2%
Industry median	1.26	59.9%	1.87	35.7%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow4.4 B $+91.8%

Capital Expenditures1 B $+19.1%

Free Cash Flow3.3 B $+135.5%

Dividends Paid——

Peer Comparison· Medical Care Facilities

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
THC	20.3%	15.6%	4.7%	256.4%
FME	14.2%	9.2%	5.0%	290.5%
FRE	12.7%	6.3%	6.4%	198.8%
RHC	8.3%	3.9%	4.4%	531.1%
MPARK	17.8%	-1.7%	14.8%	175.9%
SIA	13.6%	1.2%	12.4%	312.7%
Industry median	10.4%	5.8%	3.6%	165.7%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
THC	20.3%	15.6%	4.7%	256.4%
DVA	14.7%	10.8%	3.9%	259.4%
EHC	19.8%	7.7%	12.1%	197.0%
ENSG	11.2%	7.7%	3.5%	163.0%
UHS	10.7%	5.0%	5.7%	125.3%
CHE	17.5%	14.8%	2.6%	170.8%
Industry median	10.4%	5.8%	3.6%	165.7%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.