Tenet Healthcare (THC) EV to EBITDA (2010 - 2026)
Tenet Healthcare's EV to EBITDA came in at 2.77 for Q2 2026, down 21.1% from 3.51 a year earlier and down 14.8% from the prior quarter.
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Analysis
Tenet Healthcare (THC) EV to EBITDA (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Tenet Healthcare reported EV to EBITDA of 1.14, down 8.9% year-over-year; for FY2025, it was 3.97, up 129.6% from FY2024.
- Going back by year, EV to EBITDA was 1.73 in FY2024 (-33.0%), 2.58 in FY2023 (+30.4%), 1.98 in FY2022 (-14.4%) and 2.31 in FY2021 (+75.6%).
- The Q2 2026 figure represents the lowest quarterly EV to EBITDA since Q4 2024.
- Year-over-year, EV to EBITDA increased in five of the last eight quarters, with growth averaging 37.9%.
- The fastest year-over-year change in EV to EBITDA over five years came in Q3 2021 (growth of 442.1%), and the weakest in Q4 2024 (a decline of 33.0%).
- Business Quant data shows THC's EV to EBITDA at 3.25 (Q1 2026), 3.97 (Q4 2025) and 4.14 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | HCA Healthcare | 100.51 Bn | 96.52 Bn | - |
| 2 | Natera | 57.27 Bn | 52.95 Bn | 485.19 Mn |
| 3 | Quest Diagnostics | 26.09 Bn | 24.22 Bn | 1.03 Bn |
| 4 | Labcorp Holdings | 26.08 Bn | 23.83 Bn | 1.11 Bn |
| 5 | Tenet Healthcare | 22.29 Bn | 11.30 Bn | - |
| 6 | Guardant Health | 21.03 Bn | 17.09 Bn | 219.03 Mn |
| 7 | Fresenius Medical Care AG | 12.78 Bn | 4.73 Bn | 1.52 Bn |
| 8 | BrightSpring Health Services | 12.65 Bn | 10.98 Bn | 492.75 Mn |
| 9 | Davita | 12.13 Bn | 9.34 Bn | 1.16 Bn |
| 10 | Encompass Health | 12.05 Bn | 11.71 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.76 |
| Mar 31, 2026 | 3.23 |
| Dec 31, 2025 | 3.95 |
| Sep 30, 2025 | 4.11 |
| Jun 30, 2025 | 3.49 |
| Mar 31, 2025 | 2.75 |
| Dec 31, 2024 | 1.72 |
| Sep 30, 2024 | 2.13 |
| Jun 30, 2024 | 2.03 |
| Mar 31, 2024 | 1.73 |
| Dec 31, 2023 | 2.56 |
| Sep 30, 2023 | 2.47 |
| Jun 30, 2023 | 2.98 |
| Mar 31, 2023 | 2.37 |
| Dec 31, 2022 | 1.96 |
| Sep 30, 2022 | 1.89 |
| Jun 30, 2022 | 1.65 |
| Mar 31, 2022 | 2.64 |
| Dec 31, 2021 | 2.29 |
| Sep 30, 2021 | 1.74 |
API Access
Tenet Healthcare EV to EBITDA 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=ev-to-ebitda&ticker=THC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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=ev-to-ebitda&ticker=THC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();