Tenet Healthcare (THC) Debt to Equity (2009 - 2026)

Tenet Healthcare's (THC) quarterly Debt to Equity came in at $2.74 in Q1 2026, up 22.44% year-on-year from $2.24 in Q1 2025, and down 12.09% quarter-over-quarter from $3.12 in Q4 2025.

Tenet Healthcare (THC) Debt to Equity (2009 - 2026) Analysis & Trends

Tenet Healthcare has disclosed Debt to Equity across 18 years of filings, most recently posting $2.74 for Q1 2026.

  • Debt to Equity for Q1 2026 came in at $2.74, up 22.44% year-over-year; the trailing twelve-month figure through Mar 2026 was $2.74 (up 22.44% YoY), and the FY2025 annual result was $3.12, up 37.89% from the prior year.
  • Debt to Equity came in at $2.74 for Q1 2026 at Tenet Healthcare, down from $3.12 in the prior quarter.
  • In the past five years, Debt to Equity ranged from a high of $7.22 in Q1 2022 to a low of $2.24 in Q1 2025.
  • The 5-year median for Debt to Equity is $3.29 (2025), against an average of $4.21.
  • Across the five-year window, Debt to Equity sank 55.43% in 2024 and surged 38.5% in 2025, its largest moves.
  • Tenet Healthcare's Debt to Equity stood at $6.13 in 2022, then retreated by 21.51% to $4.81 in 2023, then sank by 52.97% to $2.26 in 2024, then soared by 37.89% to $3.12 in 2025, then fell by 12.09% to $2.74 in 2026.
  • The last three Debt to Equity figures came in at $2.74 (Q1 2026), $3.12 (Q4 2025), and $3.29 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt/Equity (Qtr)
1 HCA Healthcare 83.85 Bn 86.23 Bn 16.26 Bn -16.13
2 Tenet Healthcare 14.98 Bn 14.15 Bn 4.41 Bn 2.74
3 Davita 13.99 Bn 14.84 Bn 1.07 Bn -22.31
4 Encompass Health 9.72 Bn 10.34 Bn 1.34 Bn 0.78
5 Ensign 8.90 Bn 8.31 Bn 293.37 Mn 0.06
6 Universal Health Services 8.59 Bn 8.55 Bn 3.21 Bn 0.63
7 Fresenius Medical Care AG 7.67 Bn 5.29 Bn -4.26 Bn 0.51
8 Chemed 5.97 Bn 5.96 Bn 215.76 Mn 0.11
9 Pacs 5.74 Bn 5.50 Bn 345.96 Mn 0.05
10 Concentra Group Holdings Parent 3.59 Bn 3.54 Bn 170.47 Mn 3.65

Historic Data

Download Data
DateValue
Mar 31, 2026 2.74
Dec 31, 2025 3.12
Sep 30, 2025 3.29
Jun 30, 2025 2.41
Mar 31, 2025 2.24
Dec 31, 2024 2.26
Sep 30, 2024 2.37
Jun 30, 2024 2.55
Mar 31, 2024 2.61
Dec 31, 2023 4.81
Sep 30, 2023 5.23
Jun 30, 2023 5.52
Mar 31, 2023 5.85
Dec 31, 2022 6.13
Sep 30, 2022 6.02
Jun 30, 2022 7.13
Mar 31, 2022 7.22
Dec 31, 2021 7.62
Sep 30, 2021 8.64
Jun 30, 2021 13.02