THC Tenet Healthcare margins

Relative Growth: Rel. Growth: 96

Relative Strength: Rel. Strength: 91

Relative Valuation: Rel. Valuation: 95

Relative Profitability: Rel. Profitability: 98

Gross margin

100%

Operating margin

18.9%

EBITDA margin

20.5%

Net margin

9.9%

The Tenet Healthcare reports a gross margin of 100%, an operating margin of 18.9%, an EBITDA margin of 20.5%, and a net margin of 9.9%. Net margin improved by 2.7 percentage points, while other available margins were unchanged.

THC margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Tenet Healthcare's margins averaged 100% gross, 19.32% operating, 20.91% EBITDA, and 9.47% net. Currently, net margin is above its three-year average, while operating and EBITDA margins are below their three-year averages.

THC margin expansion

Year-over-year margin changes in percentage points

From the same period last year, operating margin expanded by 2.4 percentage points, EBITDA margin by 2.6 percentage points, and net margin by 2.7 percentage points, while gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

2.4pp

EBITDA margin expansion

2.6pp

Net margin expansion

2.7pp

THC Gross margin

Across the last 3 years, Tenet Healthcare's gross margin averaged 100%. The current gross margin stands at 100%, in line with its three-year average. Gross margin was highest at 100% in Jun 2026 and lowest at 100% in Dec 2023.

THC Operating margin

Over the last 3 years, Tenet Healthcare's operating margin averaged 19.32%. Right now, Tenet Healthcare's current operating margin is 18.9%, which is 0.4 percentage points below its three-year average. During this period, operating margin reached a high of 27.6% in Dec 2024 and a low of 11.1% in Dec 2023.

THC EBITDA margin

Tenet Healthcare's EBITDA margin averaged 20.91% during the last 3 years. Compared with its three-year average, Tenet Healthcare's current EBITDA margin is 20.5% and is 0.4 percentage points below its three-year average. Over the last 3 years, Tenet Healthcare's EBITDA margin peaked at 29.2% in Dec 2024 and reached a low of 13.1% in Dec 2023.

THC Net margin

Looking at the last 3 years, Tenet Healthcare had an average net margin of 9.47%. Tenet Healthcare currently reports a net margin of 9.9%, 0.4 percentage points above its three-year average. Looking back over the last 3 years, Tenet Healthcare's net margin reached 15.5% at its highest point in Dec 2024 and 3% at its lowest in Dec 2023.

THC margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 100%, THC ranks higher than the Healthcare sector, the industry and its peers average. In comparison with the Healthcare sector average of 68.3%, Tenet Healthcare's gross margin is 46% higher.

THC margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Tenet Healthcare's gross margin?

For the period ending Jun 30, 2026, THC recorded a gross margin of 100%.

What is Tenet Healthcare's operating margin?

As of Jun 30, 2026, THC has an operating margin of 18.9%.

What is Tenet Healthcare's EBITDA margin?

For the period ending Jun 30, 2026, THC recorded an EBITDA margin of 20.5%.

What is Tenet Healthcare's net margin?

The current net margin for THC is 9.9% as of Jun 30, 2026.

What are the average margins of THC?

Across the last 3 years, THC averaged 100.0% gross, 19.3% operating, 20.9% EBITDA, and 9.5% net.

What are the highest historical margins of THC?

In the last 5 years, the highest margins reported by THC were 100% gross in Jun 2026, 27.6% operating in Dec 2024, 29.2% EBITDA in Dec 2024, and 15.5% net in Dec 2024.

What are the lowest historical margins of THC?

Over the last 5 years, Tenet Healthcare's lowest margins were 100% gross in Dec 2021, 10.3% operating in Sep 2023, 12.5% EBITDA in Sep 2023, and 2.1% net in Dec 2022.