Tenet Healthcare Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	21,310	20,675	20,564	19,174	19,485
Revenue Growth (YoY)	3.07%	0.54%	7.25%	-1.60%	10.46%
Cost of Revenue	12,493	12,456	12,743	12,126	12,217
Gross Profit	8,817	8,219	7,821	7,048	7,268
Selling, General & Admin	410	417	418	412	412
Other Operating Expenses	3,772	3,766	3,728	3,310	3,439
Operating Expenses	5,045	5,001	5,016	4,563	4,706
Operating Income	3,772	3,218	2,805	2,485	2,562
Interest Expense	-821	-826	-901	-890	-923
Earnings From Equity Investments	264	260	228	216	218
Other Non Operating Income (Expenses)	125	134	26	20	25
EBT Excluding Unusual Items	3,340	2,786	2,158	1,831	1,882
Merger & Restructuring Charges	-69	-95	-94	-132	-77
Gain (Loss) on Sale of Assets	-1	2,916	23	1	445
Asset Writedown	-61	-7	-43	-94	-8
Legal Settlements	-64	-35	-47	-70	-116
Other Unusual Items	-345	-317	-380	-191	-238
Pretax Income	2,800	5,248	1,617	1,345	1,888
Income Tax Expense	433	1,184	306	344	411
Earnings From Continuing Operations	2,367	4,064	1,311	1,001	1,477
Earnings From Discontinued Operations	-	-	-	-	-1
Net Income to Company	2,367	4,064	1,311	1,001	1,476
Minority Interest in Earnings	-960	-864	-700	-590	-562
Net Income	1,407	3,200	611	411	914
Net Income to Common	1,407	3,200	611	411	914
Net Income Growth	-56.03%	423.73%	48.66%	-55.03%	129.07%
Shares Outstanding (Basic)	90	97	102	107	107
Shares Outstanding (Diluted)	91	98	105	111	109
Shares Change (YoY)	-7.20%	-6.60%	-5.17%	1.79%	2.17%
EPS (Basic)	15.61	33.02	6.01	3.84	8.56
EPS (Diluted)	15.49	32.70	5.71	3.78	8.42
EPS Growth	-52.63%	473.12%	50.87%	-55.07%	124.49%
Free Cash Flow	2,530	1,116	1,623	321	910
Free Cash Flow Per Share	27.85	11.40	15.49	2.90	8.38
Gross Margin	41.38%	39.75%	38.03%	36.76%	37.30%
Operating Margin	17.70%	15.57%	13.64%	12.96%	13.15%
Profit Margin	6.60%	15.48%	2.97%	2.14%	4.69%
Free Cash Flow Margin	11.87%	5.40%	7.89%	1.67%	4.67%
EBITDA	4,635	4,036	3,675	3,326	3,417
EBITDA Margin	21.75%	19.52%	17.87%	17.35%	17.54%
D&A For EBITDA	863	818	870	841	855
EBIT	3,772	3,218	2,805	2,485	2,562
EBIT Margin	17.70%	15.57%	13.64%	12.96%	13.15%
Effective Tax Rate	15.46%	22.56%	18.92%	25.58%	21.77%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.