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| Date | Value |
|---|---|
| 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% |