THCTENET HEALTHCARE CORP
Services-General Medical & Surgical Hospitals, NEC
- Revenue
- $21.3B
- 3.1% YoY
- Operating margin
- 16.5%
- 43% YoY
- EBITDA
- $4.4B
- 35% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 2.4×
- $10.4B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear150% of net incomeCash flow under 80% of net income
- Dilutive SBCClear0% of revenueOver 10% of revenue
- Payouts exceed cash flowClear39% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear37% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $19.5B | $19.2B | $20.6B | $20.7B | $21.3B | 3.1% |
| Operating income | $2.9B | $2.3B | $2.5B | $6.0B | $3.5B | 41% |
| Net income | $1.5B | $1.0B | $1.3B | $4.1B | $2.4B | 42% |
| Operating cash flow | $1.6B | $1.1B | $2.4B | $2.0B | $3.5B | 73% |
| Capex | $658M | $762M | $751M | $931M | $1.0B | 8.5% |
| Stock-based comp | $56M | $56M | $66M | $67M | $104M | 55% |
| Buybacks | $0 | $250M | $200M | $672M | $1.4B | 106% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $9M · 7
- Net
- −$9M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 498 | 148 |
| FY2024 | — | — | 316 | 129 |
| FY2023 | — | — | 189 | 126 |
| FY2022 | — | — | 122 | 124 |
| FY2021 | — | — | 205 | 126 |