Tenet Healthcare (THC) Free Cash Flow (2009 - 2026)
Tenet Healthcare (THC) posted Free Cash Flow of $417 million for Q2 2026, down 43.9% from $743 million a year earlier and down 71.5% from the prior quarter.
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Analysis
Tenet Healthcare (THC) Free Cash Flow (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Free Cash Flow at Tenet Healthcare was $3.02 billion, up 94.7% year-over-year; for FY2025, it came in at $2.53 billion, up 126.7% from FY2024.
- Annual Free Cash Flow shows a five-year compound annual growth rate of -2.5% (FY2020 to FY2025).
- In prior years, Tenet Healthcare's Free Cash Flow was $1.12 billion in FY2024 (-31.2%), $1.62 billion in FY2023 (+405.6%), $321 million in FY2022 (-64.7%) and $910 million in FY2021 (-68.3%).
- Quarterly Free Cash Flow has run from a low of -$661 million in Q4 2024 to a high of $1.46 billion in Q1 2026 over five years.
- On a year-over-year basis, Free Cash Flow increased in four of the last six quarters, with growth averaging 56.7%.
- The strongest year-over-year quarter for Free Cash Flow in the past five years was Q4 2023, with growth of 370.2%; the weakest was Q1 2022, with a decline of 82.3%.
- According to Business Quant data, Free Cash Flow for the three prior quarters was $1.46 billion (Q1 2026), $367 million (Q4 2025) and $778 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 94.29 Bn | 93.74 Bn | - | 1.10 Bn |
| 2 | Natera | 59.14 Bn | 54.82 Bn | 485.19 Mn | -8.64 Mn |
| 3 | Quest Diagnostics | 26.23 Bn | 24.66 Bn | 1.03 Bn | 459.00 Mn |
| 4 | Labcorp Holdings | 25.04 Bn | 22.81 Bn | 1.11 Bn | 313.90 Mn |
| 5 | Guardant Health | 23.69 Bn | 19.76 Bn | 219.03 Mn | -69.54 Mn |
| 6 | Tenet Healthcare | 20.77 Bn | 11.92 Bn | - | 417.00 Mn |
| 7 | Tempus AI | 14.91 Bn | 11.94 Bn | 246.50 Mn | -13.65 Mn |
| 8 | Encompass Health | 12.24 Bn | 12.70 Bn | - | 62.30 Mn |
| 9 | Davita | 11.39 Bn | 10.15 Bn | 1.16 Bn | 320.25 Mn |
| 10 | BrightSpring Health Services | 11.17 Bn | 9.51 Bn | 492.75 Mn | 14.88 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 417.00 Mn |
| Mar 31, 2026 | 1.46 Bn |
| Dec 31, 2025 | 367.00 Mn |
| Sep 30, 2025 | 778.00 Mn |
| Jun 30, 2025 | 743.00 Mn |
| Mar 31, 2025 | 642.00 Mn |
| Dec 31, 2024 | -661.00 Mn |
| Sep 30, 2024 | 829.00 Mn |
| Jun 30, 2024 | 602.00 Mn |
| Mar 31, 2024 | 346.00 Mn |
| Dec 31, 2023 | 616.00 Mn |
| Sep 30, 2023 | 327.00 Mn |
| Jun 30, 2023 | 466.00 Mn |
| Mar 31, 2023 | 214.00 Mn |
| Dec 31, 2022 | 131.00 Mn |
| Sep 30, 2022 | 150.00 Mn |
| Jun 30, 2022 | -33.00 Mn |
| Mar 31, 2022 | 73.00 Mn |
| Dec 31, 2021 | 53.00 Mn |
| Sep 30, 2021 | 321.00 Mn |
API Access
Tenet Healthcare Free Cash Flow 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=free-cash-flow&ticker=THC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=THC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();