Tenet Healthcare (THC) Debt Ratio (2009 - 2026)
Tenet Healthcare's Debt Ratio was 0.42 in Q3 2026, down 6.5% from 0.45 a year earlier and down 2.9% from the prior quarter.
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Analysis
Tenet Healthcare (THC) Debt Ratio (2009 - 2026) Analysis & Trends
For FY2025, Debt Ratio at Tenet Healthcare came in at 0.44, down 2.5% from FY2024.
- Debt Ratio has now declined for seven consecutive years.
- In earlier years, Debt Ratio was 0.46 in FY2024 (-14.1%), 0.53 in FY2023 (-4.6%), 0.56 in FY2022 (-2.1%) and 0.57 in FY2021 (-2.2%).
- The Q3 2026 figure marks the lowest quarterly Debt Ratio in data going back to Q4 2009.
- Compared with a year earlier, Debt Ratio has declined for four straight quarters, with an average decline of 3.4% over the last eight quarters.
- The best year-over-year quarter for Debt Ratio over five years was Q2 2025 (growth of 4.4%); the worst was Q2 2024 (a decline of 20.6%).
- Per Business Quant data, THC's Debt Ratio in the three quarters before Q3 2026 was 0.43 (Q2 2026), 0.42 (Q1 2026) and 0.44 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 108.44 Bn | 104.53 Bn | - | 0.80 |
| 2 | Natera | 46.38 Bn | 42.00 Bn | 513.47 Mn | 0.03 |
| 3 | Labcorp Holdings | 30.37 Bn | 28.45 Bn | 1.11 Bn | 0.31 |
| 4 | Quest Diagnostics | 28.52 Bn | 26.28 Bn | 1.04 Bn | 0.32 |
| 5 | Tenet Healthcare | 23.21 Bn | 12.51 Bn | - | 0.42 |
| 6 | Guardant Health | 21.35 Bn | 16.97 Bn | 236.15 Mn | - |
| 7 | Tempus AI | 15.33 Bn | 12.48 Bn | 266.70 Mn | - |
| 8 | BrightSpring Health Services | 14.30 Bn | 12.05 Bn | 518.55 Mn | 0.35 |
| 9 | Encompass Health | 13.86 Bn | 13.49 Bn | - | 0.34 |
| 10 | Davita | 11.86 Bn | 9.23 Bn | 1.13 Bn | 0.60 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 0.42 |
| Jun 30, 2026 | 0.43 |
| Mar 31, 2026 | 0.42 |
| Dec 31, 2025 | 0.44 |
| Sep 30, 2025 | 0.45 |
| Jun 30, 2025 | 0.46 |
| Mar 31, 2025 | 0.45 |
| Dec 31, 2024 | 0.46 |
| Sep 30, 2024 | 0.44 |
| Jun 30, 2024 | 0.44 |
| Mar 31, 2024 | 0.45 |
| Dec 31, 2023 | 0.53 |
| Sep 30, 2023 | 0.55 |
| Jun 30, 2023 | 0.55 |
| Mar 31, 2023 | 0.56 |
| Dec 31, 2022 | 0.56 |
| Sep 30, 2022 | 0.56 |
| Jun 30, 2022 | 0.57 |
| Mar 31, 2022 | 0.56 |
| Dec 31, 2021 | 0.57 |
API Access
Tenet Healthcare Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=THC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "THC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=THC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();