Tenet Healthcare Corporation
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 intensiv… Read more
Tenet Healthcare Corporation (THC) - Net Assets
Latest net assets as of December 2025: $8.97 Billion USD
Based on the latest financial reports, Tenet Healthcare Corporation (THC) has net assets worth $8.97 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($29.68 Billion) and total liabilities ($20.70 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $8.97 Billion |
| % of Total Assets | 30.24% |
| Annual Growth Rate | 5.61% |
| 5-Year Change | 110.78% |
| 10-Year Change | 158.22% |
| Growth Volatility | 100.67 |
Tenet Healthcare Corporation - Net Assets Trend (1985–2025)
This chart illustrates how Tenet Healthcare Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tenet Healthcare Corporation (1985–2025)
The table below shows the annual net assets of Tenet Healthcare Corporation from 1985 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $8.97 Billion | +4.98% |
| 2024-12-31 | $8.55 Billion | +55.17% |
| 2023-12-31 | $5.51 Billion | +19.53% |
| 2022-12-31 | $4.61 Billion | +8.25% |
| 2021-12-31 | $4.26 Billion | +47.35% |
| 2020-12-31 | $2.89 Billion | +45.25% |
| 2019-12-31 | $1.99 Billion | -5.60% |
| 2018-12-31 | $2.11 Billion | -12.39% |
| 2017-12-31 | $2.40 Billion | -30.79% |
| 2016-12-31 | $3.48 Billion | +7.79% |
| 2015-12-31 | $3.22 Billion | +171.84% |
| 2014-12-31 | $1.19 Billion | +5.42% |
| 2013-12-31 | $1.12 Billion | -8.83% |
| 2012-12-31 | $1.23 Billion | -18.17% |
| 2011-12-31 | $1.51 Billion | -17.10% |
| 2010-12-31 | $1.82 Billion | +160.98% |
| 2009-12-31 | $697.00 Million | +576.70% |
| 2008-12-31 | $103.00 Million | +90.74% |
| 2007-12-31 | $54.00 Million | -79.55% |
| 2006-12-31 | $264.00 Million | -74.14% |
| 2005-12-31 | $1.02 Billion | -41.05% |
| 2004-12-31 | $1.73 Billion | -60.28% |
| 2003-12-31 | $4.36 Billion | -26.00% |
| 2002-12-31 | $5.89 Billion | +16.03% |
| 2001-12-31 | $5.08 Billion | +24.91% |
| 2000-12-31 | $4.07 Billion | -0.56% |
| 1999-12-31 | $4.09 Billion | +14.92% |
| 1998-12-31 | $3.56 Billion | +10.36% |
| 1997-12-31 | $3.22 Billion | +22.31% |
| 1996-12-31 | $2.64 Billion | +32.73% |
| 1995-12-31 | $1.99 Billion | +50.45% |
| 1994-12-31 | $1.32 Billion | 0.00% |
| 1993-12-31 | $1.32 Billion | -24.66% |
| 1992-12-31 | $1.75 Billion | +4.66% |
| 1991-12-31 | $1.67 Billion | -4.99% |
| 1990-12-31 | $1.76 Billion | +40.18% |
| 1989-12-31 | $1.26 Billion | +14.17% |
| 1988-12-31 | $1.10 Billion | +14.45% |
| 1987-12-31 | $962.00 Million | +4.00% |
| 1986-12-31 | $925.00 Million | -8.42% |
| 1985-12-31 | $1.01 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tenet Healthcare Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 827.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.42 Billion | 104.62% |
| Common Stock | $8.00 Million | 0.19% |
| Other Comprehensive Income | $-181.00 Million | -4.29% |
| Total Equity | $4.22 Billion | 100.00% |
Tenet Healthcare Corporation Competitors by Market Cap
The table below lists competitors of Tenet Healthcare Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BWX Technologies Inc
NYSE:BWXT
|
$18.32 Billion |
|
Imperial Oil Ltd
NYSE MKT:IMO
|
$18.34 Billion |
|
Loews Corp
NYSE:L
|
$18.35 Billion |
|
Alliant Energy Corp
NASDAQ:LNT
|
$18.41 Billion |
|
Chow Tai Fook Jewellery Group
PINK:CJEWY
|
$18.30 Billion |
|
Zimmer Biomet Holdings Inc
NYSE:ZBH
|
$18.29 Billion |
|
Carnival Corporation & plc
PINK:CUKPF
|
$18.29 Billion |
|
Nidec Corporation
PINK:NNDNF
|
$18.28 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tenet Healthcare Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,171,000,000 to 4,220,000,000, a change of 49,000,000 (1.2%).
- Net income of 1,407,000,000 contributed positively to equity growth.
- Share repurchases of 1,437,000,000 reduced equity.
- Other comprehensive income decreased equity by 1,000,000.
- Other factors increased equity by 80,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.41 Billion | +33.34% |
| Share Repurchases | $1.44 Billion | -34.05% |
| Other Comprehensive Income | $-1.00 Million | -0.02% |
| Other Changes | $80.00 Million | +1.9% |
| Total Change | $- | 1.17% |
Book Value vs Market Value Analysis
This analysis compares Tenet Healthcare Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.56x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 12.51x to 4.56x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $16.91 | $211.64 | x |
| 1986-12-31 | $16.06 | $211.64 | x |
| 1987-12-31 | $15.95 | $211.64 | x |
| 1988-12-31 | $18.49 | $211.64 | x |
| 1989-12-31 | $18.57 | $211.64 | x |
| 1990-12-31 | $26.14 | $211.64 | x |
| 1991-12-31 | $25.77 | $211.64 | x |
| 1992-12-31 | $26.59 | $211.64 | x |
| 1994-12-31 | $21.07 | $211.64 | x |
| 1995-12-31 | $26.34 | $211.64 | x |
| 1996-12-31 | $32.91 | $211.64 | x |
| 1997-12-31 | $28.27 | $211.64 | x |
| 1998-12-31 | $30.46 | $211.64 | x |
| 1999-12-31 | $34.79 | $211.64 | x |
| 2000-12-31 | $34.43 | $211.64 | x |
| 2001-12-31 | $41.40 | $211.64 | x |
| 2002-12-31 | $48.03 | $211.64 | x |
| 2003-12-31 | $37.40 | $211.64 | x |
| 2004-12-31 | $14.86 | $211.64 | x |
| 2005-12-31 | $8.71 | $211.64 | x |
| 2006-12-31 | $2.24 | $211.64 | x |
| 2007-12-31 | $0.46 | $211.64 | x |
| 2008-12-31 | $0.86 | $211.64 | x |
| 2009-12-31 | $5.09 | $211.64 | x |
| 2010-12-31 | $12.60 | $211.64 | x |
| 2011-12-31 | $11.73 | $211.64 | x |
| 2012-12-31 | $10.49 | $211.64 | x |
| 2013-12-31 | $7.43 | $211.64 | x |
| 2014-12-31 | $6.49 | $211.64 | x |
| 2015-12-31 | $6.97 | $211.64 | x |
| 2016-12-31 | $4.20 | $211.64 | x |
| 2017-12-31 | $-1.46 | $211.64 | x |
| 2018-12-31 | $-1.15 | $211.64 | x |
| 2019-12-31 | $-3.59 | $211.64 | x |
| 2020-12-31 | $0.26 | $211.64 | x |
| 2021-12-31 | $9.47 | $211.64 | x |
| 2022-12-31 | $10.33 | $211.64 | x |
| 2023-12-31 | $15.34 | $211.64 | x |
| 2024-12-31 | $42.61 | $211.64 | x |
| 2025-12-31 | $46.46 | $211.64 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tenet Healthcare Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 33.34%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.60%
- • Asset Turnover: 0.72x
- • Equity Multiplier: 7.03x
- Recent ROE (33.34%) is above the historical average (29.46%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 6.24% | 2.19% | 0.87x | 3.26x | $-38.00 Million |
| 1986 | 16.00% | 4.62% | 0.93x | 3.71x | $55.50 Million |
| 1987 | 14.86% | 3.89% | 1.05x | 3.65x | $46.80 Million |
| 1988 | 21.98% | 6.15% | 1.01x | 3.52x | $131.90 Million |
| 1989 | 22.04% | 7.28% | 1.00x | 3.03x | $151.30 Million |
| 1990 | 5.90% | 2.61% | 0.98x | 2.30x | $-72.20 Million |
| 1991 | 9.56% | 4.25% | 0.89x | 2.53x | $-7.40 Million |
| 1992 | -24.26% | -14.33% | 0.71x | 2.38x | $-600.30 Million |
| 1994 | 13.86% | 5.52% | 0.90x | 2.80x | $51.00 Million |
| 1995 | 22.66% | 5.84% | 0.97x | 3.99x | $251.40 Million |
| 1996 | -9.64% | -2.92% | 1.04x | 3.16x | $-517.60 Million |
| 1997 | 8.10% | 2.64% | 0.85x | 3.63x | $-61.40 Million |
| 1998 | 7.00% | 2.29% | 0.85x | 3.61x | $-106.80 Million |
| 1999 | 7.39% | 2.65% | 0.86x | 3.25x | $-106.90 Million |
| 2000 | 15.81% | 5.33% | 0.92x | 3.24x | $236.40 Million |
| 2001 | 12.66% | 5.33% | 0.93x | 2.56x | $135.10 Million |
| 2002 | 13.32% | 5.64% | 1.00x | 2.36x | $195.70 Million |
| 2003 | -35.86% | -15.56% | 0.82x | 2.82x | $-2.00 Billion |
| 2004 | -162.01% | -32.00% | 0.87x | 5.82x | $-2.98 Billion |
| 2005 | -70.91% | -8.70% | 0.85x | 9.61x | $-826.10 Million |
| 2006 | -304.17% | -9.50% | 0.99x | 32.34x | $-829.40 Million |
| 2007 | -164.81% | -1.10% | 0.96x | 155.43x | $-94.40 Million |
| 2008 | 24.27% | 0.29% | 1.05x | 79.36x | $14.70 Million |
| 2009 | 28.95% | 2.07% | 1.13x | 12.31x | $122.40 Million |
| 2010 | 64.72% | 13.83% | 0.97x | 4.81x | $966.40 Million |
| 2011 | 5.76% | 0.95% | 1.02x | 5.95x | $-60.30 Million |
| 2012 | 13.30% | 1.67% | 1.01x | 7.91x | $37.70 Million |
| 2013 | -17.75% | -1.21% | 0.69x | 21.36x | $-209.50 Million |
| 2014 | 1.84% | 0.07% | 0.92x | 27.87x | $-53.10 Million |
| 2015 | -20.26% | -0.75% | 0.79x | 34.27x | $-209.10 Million |
| 2016 | -46.04% | -0.98% | 0.79x | 59.24x | $-233.70 Million |
| 2017 | 0.00% | -3.67% | 0.82x | 0.00x | $-689.30 Million |
| 2018 | 0.00% | 0.57% | 0.82x | 0.00x | $115.90 Million |
| 2019 | 0.00% | -1.16% | 0.79x | 0.00x | $-177.90 Million |
| 2020 | 1425.00% | 2.26% | 0.65x | 968.07x | $396.20 Million |
| 2021 | 88.91% | 4.69% | 0.71x | 26.83x | $811.20 Million |
| 2022 | 35.99% | 2.14% | 0.71x | 23.78x | $296.80 Million |
| 2023 | 38.00% | 2.97% | 0.73x | 17.61x | $450.20 Million |
| 2024 | 76.72% | 15.49% | 0.71x | 6.94x | $2.78 Billion |
| 2025 | 33.34% | 6.60% | 0.72x | 7.03x | $985.00 Million |
Industry Comparison
This section compares Tenet Healthcare Corporation's net assets metrics with peer companies in the Medical Care Facilities industry.
Industry Context
- Industry: Medical Care Facilities
- Average net assets among peers: $250,407,165
- Average return on equity (ROE) among peers: -38.80%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tenet Healthcare Corporation (THC) | $8.97 Billion | 6.24% | 2.31x | $18.32 Billion |
| Addus HomeCare Corporation (ADUS) | $113.86 Million | 16.82% | 0.44x | $1.75 Billion |
| agilon health Inc (AGL) | $126.73 Million | -319.84% | 9.03x | $166.17 Million |
| Airsculpt Technologies Inc (AIRS) | $123.68 Million | 6.13% | 0.45x | $16.62 Million |
| Amedisys Inc (AMED) | $454.23 Million | -18.40% | 0.61x | $3.26 Billion |
| AMN Healthcare Services Inc (AMN) | $347.86 Million | 23.54% | 1.53x | $624.22 Million |
| American Shared Hospital Service (AMS) | $20.85 Million | 8.48% | 1.33x | $7.93 Million |
| American Oncology Network Inc. (AONC) | $226.04 Million | -0.05% | 0.10x | $112.23 Million |
| Ardent Health Partners, Inc. (ARDT) | $1.08 Billion | 4.65% | 3.71x | $225.22 Million |
| Arem Pacific Corporation (ARPC) | $-45.09K | 0.00% | 0.00x | $246.12K |
| Astrana Health Inc (ASTH) | $8.55 Million | -109.27% | 1.29x | $1.08 Billion |