Tenet Healthcare (THC) FCF Margin (2009 - 2026)

Tenet Healthcare's (THC) quarterly FCF Margin came in at 27.22% in Q1 2026, up 1493.0% year-on-year from 1.71% in Q1 2025, and up 309.88% quarter-over-quarter from 6.64% in Q4 2025.

Tenet Healthcare (THC) FCF Margin (2009 - 2026) Analysis & Trends

Tenet Healthcare has disclosed FCF Margin across 18 years of filings, most recently posting 27.22% for Q1 2026.

  • FCF Margin for Q1 2026 came in at 27.22%, up 1493.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 15.61% (up 873.0% YoY), and the FY2025 annual result was 11.87%, up 647.0% from the prior year.
  • FCF Margin came in at 27.22% for Q1 2026 at Tenet Healthcare, up from 6.64% in the prior quarter.
  • In the past five years, FCF Margin ranged from a high of 27.22% in Q1 2026 to a low of 13.03% in Q4 2024.
  • The 5-year median for FCF Margin is 6.64% (2025), against an average of 7.89%.
  • Across the five-year window, FCF Margin tumbled 2445 bps in 2024 and soared 1967 bps in 2025, its largest moves.
  • Tenet Healthcare's FCF Margin stood at 2.63% in 2022, then jumped by 335 bps to 11.42% in 2023, then plunged by 214 bps to 13.03% in 2024, then jumped by 151 bps to 6.64% in 2025, then surged by 310 bps to 27.22% in 2026.
  • The last three FCF Margin figures came in at 27.22% (Q1 2026), 6.64% (Q4 2025), and 14.71% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) FCF Margin (Qtr)
1 HCA Healthcare 83.85 Bn 86.23 Bn 16.26 Bn 4.68%
2 Tenet Healthcare 14.98 Bn 14.15 Bn 4.41 Bn 27.22%
3 Davita 13.99 Bn 14.84 Bn 1.07 Bn 6.41%
4 Encompass Health 9.72 Bn 10.34 Bn 1.34 Bn 9.50%
5 Ensign 8.90 Bn 8.31 Bn 293.37 Mn 6.49%
6 Universal Health Services 8.59 Bn 8.55 Bn 3.21 Bn 4.10%
7 Fresenius Medical Care AG 7.67 Bn 5.29 Bn -4.26 Bn 7,234.71%
8 Chemed 5.97 Bn 5.96 Bn 215.76 Mn 10.81%
9 Pacs 5.74 Bn 5.50 Bn 345.96 Mn 10.55%
10 Concentra Group Holdings Parent 3.59 Bn 3.54 Bn 170.47 Mn 1.74%

Historic Data

Download Data
DateValue
Mar 31, 2026 27.22%
Dec 31, 2025 6.64%
Sep 30, 2025 14.71%
Jun 30, 2025 14.10%
Mar 31, 2025 12.29%
Dec 31, 2024 -13.03%
Sep 30, 2024 16.17%
Jun 30, 2024 11.79%
Mar 31, 2024 6.45%
Dec 31, 2023 11.42%
Sep 30, 2023 6.45%
Jun 30, 2023 9.17%
Mar 31, 2023 4.26%
Dec 31, 2022 2.63%
Sep 30, 2022 3.12%
Jun 30, 2022 -0.71%
Mar 31, 2022 1.54%
Dec 31, 2021 1.09%
Sep 30, 2021 6.56%
Jun 30, 2021 2.48%