Tenet Healthcare (THC) Net Margin (2009 - 2026)
Tenet Healthcare's (THC) quarterly Net Margin came in at 13.08% in Q1 2026, up 530.0% year-on-year from 2.08% in Q1 2025, and up 94.82% quarter-over-quarter from 6.71% in Q4 2025.
Tenet Healthcare (THC) Net Margin (2009 - 2026) Analysis & Trends
Tenet Healthcare has disclosed Net Margin across 18 years of filings, most recently posting 13.08% for Q1 2026.
- Net Margin for Q1 2026 came in at 13.08%, up 530.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 7.94% (up 85.0% YoY), and the FY2025 annual result was 6.6%, down 888.0% from the prior year.
- Net Margin came in at 13.08% for Q1 2026 at Tenet Healthcare, up from 6.71% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 40.07% in Q1 2024 to a low of 0.82% in Q2 2022.
- The 5-year median for Net Margin is 5.07% (2024), against an average of 7.08%.
- Across the five-year window, Net Margin jumped 3722 bps in 2024 and slumped 3230 bps in 2025, its largest moves.
- Tenet Healthcare's Net Margin stood at 2.04% in 2022, then soared by 121 bps to 4.52% in 2023, then soared by 39 bps to 6.27% in 2024, then climbed by 7 bps to 6.71% in 2025, then jumped by 95 bps to 13.08% in 2026.
- The last three Net Margin figures came in at 13.08% (Q1 2026), 6.71% (Q4 2025), and 6.47% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 83.85 Bn | 86.23 Bn | 16.26 Bn | 9.72% |
| 2 | Tenet Healthcare | 14.98 Bn | 14.15 Bn | 4.41 Bn | 13.08% |
| 3 | Davita | 13.99 Bn | 14.84 Bn | 1.07 Bn | 8.05% |
| 4 | Encompass Health | 9.72 Bn | 10.34 Bn | 1.34 Bn | 1.00% |
| 5 | Ensign | 8.90 Bn | 8.31 Bn | 293.37 Mn | 6.93% |
| 6 | Universal Health Services | 8.59 Bn | 8.55 Bn | 3.21 Bn | 7.76% |
| 7 | Fresenius Medical Care AG | 7.67 Bn | 5.29 Bn | -4.26 Bn | 300.60% |
| 8 | Chemed | 5.97 Bn | 5.96 Bn | 215.76 Mn | 10.08% |
| 9 | Pacs | 5.74 Bn | 5.50 Bn | 345.96 Mn | 5.68% |
| 10 | Concentra Group Holdings Parent | 3.59 Bn | 3.54 Bn | 170.47 Mn | 9.18% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 13.08% |
| Dec 31, 2025 | 6.71% |
| Sep 30, 2025 | 6.47% |
| Jun 30, 2025 | 5.46% |
| Mar 31, 2025 | 7.77% |
| Dec 31, 2024 | 6.27% |
| Sep 30, 2024 | 9.21% |
| Jun 30, 2024 | 5.07% |
| Mar 31, 2024 | 40.07% |
| Dec 31, 2023 | 4.52% |
| Sep 30, 2023 | 1.99% |
| Jun 30, 2023 | 2.42% |
| Mar 31, 2023 | 2.85% |
| Dec 31, 2022 | 2.04% |
| Sep 30, 2022 | 2.73% |
| Jun 30, 2022 | 0.82% |
| Mar 31, 2022 | 2.95% |
| Dec 31, 2021 | 5.13% |
| Sep 30, 2021 | 9.17% |
| Jun 30, 2021 | 2.40% |