Tenet Healthcare Corporation (THC)

Tenet Healthcare Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	2,241	1,407	3,200	611	411	914
Depreciation & Amortization	893	863	818	870	841	855
Other Amortization	22	23	26	32	33	33
Loss (Gain) From Sale of Assets	-49	1	-2,916	-23	-1	-445
Asset Writedown & Restructuring Costs	-	-16	-90	-32	-2	-68
Loss (Gain) From Sale of Investments	-4	-4	-4	-29	-117	-23
Loss (Gain) on Equity Investments	-37	-34	-29	-13	2	-10
Stock-Based Compensation	132	104	67	66	56	56
Other Operating Activities	1,084	1,056	839	821	1,003	993
Change in Accounts Receivable	-53	20	245	-29	-140	-197
Change in Inventory	167	-73	-86	-139	-64	-52
Change in Accounts Payable	-453	209	-30	215	-898	-584
Change in Income Taxes	59	-25	16	10	-26	68
Change in Other Net Operating Assets	13	9	-9	14	-15	28
Operating Cash Flow	4,015	3,540	2,047	2,374	1,083	1,568
Operating Cash Flow Growth	62.88%	72.94%	-13.77%	119.21%	-30.93%	-53.98%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-992	-1,010	-931	-751	-762	-658
Cash Acquisitions	-291	-308	-571	-224	-234	-1,220
Divestitures	30	38	4,981	71	210	1,248
Investment in Securities	-22	3	-31	-54	-16	-77
Other Investing Activities	-19	2	-19	-11	-6	-7
Investing Cash Flow	-1,294	-1,275	3,429	-969	-808	-714

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	2,276	23	1,370	2,023	2,872
Total Debt Issued	2,289	2,276	23	1,370	2,023	2,872
Long-Term Debt Repaid	-	-2,372	-2,243	-1,542	-2,851	-3,221
Total Debt Repaid	-2,369	-2,372	-2,243	-1,542	-2,851	-3,221
Net Debt Issued (Repaid)	-80	-96	-2,220	-172	-828	-349
Repurchase of Common Stock	-1,752	-1,437	-697	-212	-250	-
Other Financing Activities	-1,344	-868	-768	-651	-703	-587
Financing Cash Flow	-3,176	-2,401	-3,685	-1,035	-1,781	-936

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Cash Flow	-455	-136	1,791	370	-1,506	-82

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	3,023	2,530	1,116	1,623	321	910
Free Cash Flow Growth	94.66%	126.70%	-31.24%	405.61%	-64.72%	-68.26%
Free Cash Flow Margin	13.86%	11.87%	5.40%	7.89%	1.67%	4.67%
Free Cash Flow Per Share	34.74	27.85	11.40	15.49	2.90	8.38
Levered Free Cash Flow	2,248	1,677	2,329	903	103.88	1,559
Unlevered Free Cash Flow	2,738	2,168	2,819	1,434	627.13	2,103

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	831	865	851	882	848	937
Cash Income Tax Paid	538	450	1,271	243	161	92
Change in Working Capital	-267	140	136	71	-1,143	-737

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Jul 29, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 7, 2026

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