Tenet Healthcare Corporation (THC)

Tenet Healthcare Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	20,846	20,665	20,548	19,174	19,485	17,640
Revenue Growth (YoY)	-0.64%	0.57%	7.17%	-1.60%	10.46%	-4.54%
Cost of Revenue	12,285	12,456	12,743	12,126	12,217	11,409
Gross Profit	8,561	8,209	7,805	7,048	7,268	6,231
Selling, General & Admin	417	417	418	412	412	403
Other Operating Expenses	3,673	3,756	3,722	3,310	3,439	3,402
Operating Expenses	4,915	4,991	5,010	4,563	4,706	4,662
Operating Income	3,646	3,218	2,795	2,485	2,562	1,569
Interest Expense	-819	-826	-901	-890	-923	-1,003
Earnings From Equity Investments	259	260	228	216	218	169
Other Non Operating Income (Expenses)	125	134	26	20	25	10
EBT Excluding Unusual Items	3,211	2,786	2,148	1,831	1,882	745
Merger & Restructuring Charges	-75	-95	-94	-132	-77	-198
Gain (Loss) on Sale of Assets	14	2,916	23	1	445	14
Asset Writedown	-18	-7	-43	-94	-8	-92
Legal Settlements	-51	-35	-47	-70	-116	-44
Other Unusual Items	-307	-317	-370	-191	-238	246
Pretax Income	2,774	5,248	1,617	1,345	1,888	671
Income Tax Expense	479	1,184	306	344	411	-97
Earnings From Continuing Operations	2,295	4,064	1,311	1,001	1,477	768
Earnings From Discontinued Operations	-	-	-	-	-1	-
Net Income to Company	2,295	4,064	1,311	1,001	1,476	768
Minority Interest in Earnings	-941	-864	-700	-590	-562	-369
Net Income	1,354	3,200	611	411	914	399
Net Income to Common	1,354	3,200	611	411	914	399
Net Income Growth	-56.69%	423.73%	48.66%	-55.03%	129.07%	-
Shares Outstanding (Basic)	92	97	102	107	107	105
Shares Outstanding (Diluted)	93	98	105	111	109	106
Shares Change (YoY)	-7.08%	-6.60%	-5.17%	1.79%	2.17%	2.77%
EPS (Basic)	14.70	33.02	6.01	3.84	8.56	3.80
EPS (Diluted)	14.57	32.70	5.71	3.78	8.42	3.75
EPS Growth	-53.39%	473.12%	50.87%	-55.07%	124.49%	-
Free Cash Flow	1,502	1,116	1,623	321	910	2,867
Free Cash Flow Per Share	16.18	11.40	15.49	2.90	8.38	26.98
Gross Margin	41.07%	39.72%	37.98%	36.76%	37.30%	35.32%
Operating Margin	17.49%	15.57%	13.60%	12.96%	13.15%	8.89%
Profit Margin	6.49%	15.48%	2.97%	2.14%	4.69%	2.26%
Free Cash Flow Margin	7.21%	5.40%	7.90%	1.67%	4.67%	16.25%
EBITDA	4,471	4,036	3,665	3,326	3,417	2,426
EBITDA Margin	21.45%	19.53%	17.84%	17.35%	17.54%	13.75%
D&A For EBITDA	825	818	870	841	855	857
EBIT	3,646	3,218	2,795	2,485	2,562	1,569
EBIT Margin	17.49%	15.57%	13.60%	12.96%	13.15%	8.89%
Effective Tax Rate	17.27%	22.56%	18.92%	25.58%	21.77%	-

Updated Oct 28, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q