Tenet Healthcare Corporation (THC) Fair Value & Analysis
Healthcare · US · Market cap $16.8B · ISIN US88033G4073
What is Tenet Healthcare Corporation really worth?
Tenet Healthcare Corporation
THC · US
A solid business, trading 20% below our fair value of $330.25.
Strengths
Risks
Fair value as of: Aug 31, 2026
From 25 valuation models · updated 5 days ago
Share price +4.0% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide ($178.52 to $520.68). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.
How to read this chart
60‑month range $37.50 – $280.77 · fair‑value band $178.52 – $520.68 · the $263.49 price screens below the $330.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 31, 2026.
Analysis
Tenet Healthcare Corporation (THC) currently trades at $263.49, while our model-based Fair Value estimate is $330.25, implying the stock looks roughly 20.2% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Healthcare sector. Bull case: the Multiples group reads highest at a median of $359.36 per share, and 18 of the 25 models we run sit above the $263.49 price. Bear case: the Dividend Discount group reads lowest at $89.95, and 7 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Tenet Healthcare Corporation generated revenue of $21.5B at a net margin of 7.9%. Revenue grew 2.8% year over year. It earns a return on equity of 30.3%. Net debt stands at $10.3B. Fundamentals as of Aug 31, 2026
Our scenario range runs from $178.52 (bear case) to $520.68 (bull case); at $263.49, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 80% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −9% fair-value upside, at 25%, THC screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $13.07 per share, which is 4.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: Multiples ($359.36) versus Asset-Based ($32.82). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 69
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care.
Full company description
Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies. The company also provides intensive and critical care, and/or coronary care units; cardiovascular, digestive disease, neurosciences, musculoskeletal, and obstetrics services; outpatient services, including physical therapy; tertiary care services, such as cardiothoracic surgery, complex spinal surgery, neonatal intensive care, and neurosurgery services; pediatric quaternary care services through heart, liver, and kidney transplants programs; and limb salvaging vascular procedure, acute level 1 trauma, intravascular stroke care, minimally invasive cardiac valve replacement, imaging technology, surgical robotic, and telemedicine access services. In addition, it offers a range of procedures and services comprising orthopedics, total joint replacement, and spinal and other musculoskeletal procedures; gastroenterology; pain management; otolaryngology; ophthalmology; and urology. Further, the company operates acute care and specialty hospitals, off-campus emergency departments, imaging centers, urgent care centers, and micro-hospitals, as well as ambulatory surgery centers and surgical hospitals. Tenet Healthcare Corporation was founded in 1967 and is headquartered in Dallas, Texas.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Tenet Healthcare Corporation reported revenue of $21.3B in FY2025 versus $19.5B in FY2021, a compound +2.3%/yr. Reported net income was $1.4B in FY2025, compounding +11.4%/yr from FY2021.
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- ThreeD Capital Inc. Congratulates Tenet Fintech Group Inc. On Its Second Quarter 2026 Financial Results
- Tenet Reports Revenue of CAD $52.8M and a Net Profit of CAD $2.7M for the Second Quarter of 2026
- Tenet (THC) is an Incredible Growth Stock: 3 Reasons Why
Peer Group
Medical Care Facilities · 256 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Care Facilities median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 42/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| HCA Healthcare, Inc HCA | $417.82 | $547.67 | +31% |
| Fresenius SE FRE | €45.25 | €32.15 | −29% |
| Dr. Sulaiman Al Habib Medical Services Group 4013 | 241.00 SAR | 112.37 SAR | −53% |
| IHH Healthcare Berhad, an investment holding company, Q0F | 2.67 SGD | 1.44 SGD | −46% |
| DaVita Inc DVA | $180.68 | $186.49 | +3% |
| Apollo Hospitals Enterprise Limited APOLLOHOSP | ₹8,818 | ₹2,955 | −66% |
| Fresenius Medical Care AG FME | €39.92 | €71.28 | +79% |
| Aier Eye Hospital Group 300015 | ¥8.25 | ¥7.67 | −7% |
| Max Healthcare Institute Limited MAXHEALTH | ₹1,005 | ₹284.87 | −72% |
| Encompass Health Corporation EHC | $120.31 | $109.77 | −9% |
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