Tenet Healthcare (THC) Operating Margin (2009 - 2026)
Tenet Healthcare recorded quarterly Operating Margin of 24.14% in Q1 2026, up 56.43% quarter-over-quarter from 15.43% in Q4 2025, and up 609.0% year-over-year from 3.41% in Q1 2025.
Tenet Healthcare's Operating Margin history runs 18 years deep, the most recent figure standing at 24.14% for Q1 2026.
- In Q1 2026, Operating Margin rose 609.0% year-over-year to 24.14%; the TTM figure through Mar 2026 stood at 18.0% (up 39.0% YoY), while the FY2025 annual figure was 16.46%, down 1235.0% from the prior year.
- Operating Margin came in at 24.14% for Q1 2026 at Tenet Healthcare, up from 15.43% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 61.2% in Q1 2024 to a low of 10.74% in Q4 2022.
- A 5-year average of 17.71% and a median of 14.9% in 2024 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin surged 4919 bps in 2024 and slumped 4314 bps in 2025, its largest moves.
- Tenet Healthcare's Operating Margin stood at 10.74% in 2022, then grew by 27 bps to 13.62% in 2023, then increased by 19 bps to 16.18% in 2024, then dropped by 5 bps to 15.43% in 2025, then surged by 56 bps to 24.14% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 24.14%, 15.43%, and 16.81% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 84.64 Bn | 87.02 Bn | 16.26 Bn | -2.96% |
| 2 | Tenet Healthcare | 15.22 Bn | 14.39 Bn | 4.41 Bn | 24.14% |
| 3 | Davita | 13.10 Bn | 13.96 Bn | 1.07 Bn | 14.11% |
| 4 | Encompass Health | 10.50 Bn | 11.12 Bn | 1.34 Bn | 3.76% |
| 5 | Ensign | 9.69 Bn | 9.09 Bn | 293.37 Mn | 8.99% |
| 6 | Universal Health Services | 8.92 Bn | 8.88 Bn | 3.21 Bn | 11.19% |
| 7 | Fresenius Medical Care AG | 7.31 Bn | 4.93 Bn | 22,843.10 Bn | 0.01% |
| 8 | Chemed | 5.83 Bn | 5.81 Bn | 215.76 Mn | 12.86% |
| 9 | Pacs | 5.76 Bn | 5.51 Bn | 345.96 Mn | 8.45% |
| 10 | Option Care Health | 3.27 Bn | 3.09 Bn | 262.01 Mn | 5.37% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 24.14% |
| Dec 31, 2025 | 15.43% |
| Sep 30, 2025 | 16.81% |
| Jun 30, 2025 | 15.61% |
| Mar 31, 2025 | 18.05% |
| Dec 31, 2024 | 16.18% |
| Sep 30, 2024 | 21.24% |
| Jun 30, 2024 | 14.90% |
| Mar 31, 2024 | 61.20% |
| Dec 31, 2023 | 13.62% |
| Sep 30, 2023 | 11.21% |
| Jun 30, 2023 | 11.89% |
| Mar 31, 2023 | 12.01% |
| Dec 31, 2022 | 10.74% |
| Sep 30, 2022 | 12.41% |
| Jun 30, 2022 | 11.92% |
| Mar 31, 2022 | 13.66% |
| Dec 31, 2021 | 15.47% |
| Sep 30, 2021 | 20.72% |
| Jun 30, 2021 | 11.83% |
| Mar 31, 2021 | 10.88% |
| Dec 31, 2020 | 18.72% |
| Sep 30, 2020 | 5.95% |
| Jun 30, 2020 | 12.91% |
| Mar 31, 2020 | 7.23% |
| Dec 31, 2019 | 9.45% |
| Sep 30, 2019 | 6.61% |
| Jun 30, 2019 | 8.77% |
| Mar 31, 2019 | 8.38% |
| Dec 31, 2018 | 8.53% |
| Sep 30, 2018 | 7.13% |
| Jun 30, 2018 | 9.01% |
| Mar 31, 2018 | 11.00% |
| Dec 31, 2017 | 9.74% |
| Sep 30, 2017 | 1.11% |
| Jun 30, 2017 | 6.46% |
| Mar 31, 2017 | 5.55% |
| Dec 31, 2016 | 4.44% |
| Sep 30, 2016 | 6.99% |
| Jun 30, 2016 | 5.63% |
| Mar 31, 2016 | 0.68% |
| Dec 31, 2015 | 16.15% |
| Sep 30, 2015 | 0.28% |
| Jun 30, 2015 | 3.39% |
| Mar 31, 2015 | 6.56% |
| Dec 31, 2014 | -9.29% |
| Sep 30, 2014 | 4.77% |
| Jun 30, 2014 | 4.75% |
| Mar 31, 2014 | 3.95% |
| Dec 31, 2013 | -11.38% |
| Sep 30, 2013 | 5.65% |
| Jun 30, 2013 | 8.34% |
| Mar 31, 2013 | 6.12% |
| Dec 31, 2012 | -13.51% |
| Sep 30, 2012 | 6.89% |
| Jun 30, 2012 | 7.95% |
| Mar 31, 2012 | 8.91% |
| Dec 31, 2011 | 7.14% |
| Sep 30, 2011 | 3.76% |
| Jun 30, 2011 | 7.74% |
| Mar 31, 2011 | 11.27% |
| Dec 31, 2010 | -30.42% |
| Sep 30, 2010 | 4.29% |
| Jun 30, 2010 | 7.43% |
| Mar 31, 2010 | 8.59% |
| Dec 31, 2009 | -23.96% |
| Sep 30, 2009 | 5.88% |
| Jun 30, 2009 | 6.19% |