Tenet Healthcare (THC) Net Margin (2009 - 2026)
Tenet Healthcare (THC) posted Net Margin of 17.76% for Q3 2026, up 11.29 percentage points from 6.47% a year earlier and up 3.08 percentage points from the prior quarter.
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Analysis
Tenet Healthcare (THC) Net Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Net Margin at Tenet Healthcare was 13.09%, up 6.59 percentage points year-over-year; for FY2025, it was 6.60%, down 8.88 percentage points from FY2024.
- Annual Net Margin shows a five-year change of +4.34 percentage points (FY2020 to FY2025).
- In prior years, Tenet Healthcare's Net Margin was 15.48% in FY2024 (+12.51 pp), 2.97% in FY2023 (+0.83 pp), 2.14% in FY2022 (-2.55 pp) and 4.69% in FY2021 (+2.43 pp).
- The Q3 2026 figure stands as the highest quarterly Net Margin since Q1 2024.
- On a year-over-year basis, Net Margin has increased in each of the last four quarters, with an average year-over-year change of -0.83 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Net Margin in the past five years was Q1 2024, with a gain of 37.22 percentage points; the weakest was Q1 2025, with a drop of 32.30 percentage points.
- According to Business Quant data, Net Margin for the three prior quarters was 14.68% (Q2 2026), 13.08% (Q1 2026) and 6.71% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.13 Bn | 102.23 Bn | - | 7.96% |
| 2 | Natera | 44.93 Bn | 40.56 Bn | 513.47 Mn | -7.55% |
| 3 | Labcorp Holdings | 29.97 Bn | 28.06 Bn | 1.11 Bn | 6.90% |
| 4 | Quest Diagnostics | 28.09 Bn | 25.85 Bn | 1.04 Bn | 10.07% |
| 5 | Tenet Healthcare | 22.72 Bn | 12.03 Bn | - | 17.76% |
| 6 | Guardant Health | 20.11 Bn | 15.73 Bn | 236.15 Mn | -34.45% |
| 7 | BrightSpring Health Services | 13.90 Bn | 11.66 Bn | 518.55 Mn | 2.38% |
| 8 | Tempus AI | 13.80 Bn | 10.95 Bn | 266.70 Mn | -3.61% |
| 9 | Encompass Health | 13.52 Bn | 13.15 Bn | - | 9.31% |
| 10 | Davita | 12.21 Bn | 9.59 Bn | 1.13 Bn | 6.23% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 17.76% |
| Jun 30, 2026 | 14.68% |
| 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% |
API Access
Tenet Healthcare Net Margin 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=net-margin&ticker=THC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=THC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();