Tenet Healthcare (THC) EBITDA Margin (2009 - 2026)
Tenet Healthcare's EBITDA Margin was 30.49% in Q2 2026, up 10.93 percentage points from 19.56% a year earlier and up 2.08 percentage points from the prior quarter.
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Analysis
Tenet Healthcare (THC) EBITDA Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Tenet Healthcare's EBITDA Margin was 24.90% through Jun 30, 2026, up 3.20 percentage points year-over-year; for FY2025, it came in at 20.51%, down 12.25 percentage points from FY2024.
- EBITDA Margin shows a five-year change of +4.38 percentage points (FY2020 to FY2025).
- In earlier years, EBITDA Margin was 32.76% in FY2024 (+16.33 pp), 16.44% in FY2023 (-0.12 pp), 16.55% in FY2022 (-2.57 pp) and 19.12% in FY2021 (+2.99 pp).
- The Q2 2026 figure marks the highest quarterly EBITDA Margin since Q1 2024.
- Compared with a year earlier, EBITDA Margin was higher in five of the last eight quarters, with an average year-over-year change of -2.23 percentage points.
- The best year-over-year quarter for EBITDA Margin over five years was Q1 2024 (a gain of 48.74 percentage points); the worst was Q1 2025 (a drop of 43.07 percentage points).
- Per Business Quant data, THC's EBITDA Margin in the three quarters before Q2 2026 was 28.41% (Q1 2026), 19.61% (Q4 2025) and 20.93% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 94.29 Bn | 93.74 Bn | - | 19.96% |
| 2 | Natera | 59.14 Bn | 54.82 Bn | 485.19 Mn | -7.25% |
| 3 | Quest Diagnostics | 26.23 Bn | 24.66 Bn | 1.03 Bn | 19.88% |
| 4 | Labcorp Holdings | 25.04 Bn | 22.81 Bn | 1.11 Bn | 16.90% |
| 5 | Guardant Health | 23.69 Bn | 19.76 Bn | 219.03 Mn | -35.69% |
| 6 | Tenet Healthcare | 20.77 Bn | 11.92 Bn | - | 30.49% |
| 7 | Tempus AI | 14.91 Bn | 11.94 Bn | 246.50 Mn | - |
| 8 | Encompass Health | 12.24 Bn | 12.70 Bn | - | 24.09% |
| 9 | Davita | 11.39 Bn | 10.15 Bn | 1.16 Bn | 21.01% |
| 10 | BrightSpring Health Services | 11.17 Bn | 9.51 Bn | 492.75 Mn | 4.44% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 30.49% |
| Mar 31, 2026 | 28.41% |
| Dec 31, 2025 | 19.61% |
| Sep 30, 2025 | 20.93% |
| Jun 30, 2025 | 19.56% |
| Mar 31, 2025 | 22.00% |
| Dec 31, 2024 | 19.99% |
| Sep 30, 2024 | 25.32% |
| Jun 30, 2024 | 18.97% |
| Mar 31, 2024 | 65.07% |
| Dec 31, 2023 | 17.63% |
| Sep 30, 2023 | 15.63% |
| Jun 30, 2023 | 16.08% |
| Mar 31, 2023 | 16.33% |
| Dec 31, 2022 | 15.01% |
| Sep 30, 2022 | 16.77% |
| Jun 30, 2022 | 16.58% |
| Mar 31, 2022 | 17.93% |
| Dec 31, 2021 | 19.60% |
| Sep 30, 2021 | 24.99% |
API Access
Tenet Healthcare EBITDA Margin 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=ebitda-margin&ticker=THC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=THC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();