Company Quick10K Filing
Tenet Healthcare
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 105 $2,125
10-Q 2019-11-04 Quarter: 2019-09-30
10-Q 2019-08-05 Quarter: 2019-06-30
10-Q 2019-04-29 Quarter: 2019-03-31
10-K 2019-02-25 Annual: 2018-12-31
10-Q 2018-11-05 Quarter: 2018-09-30
10-Q 2018-08-06 Quarter: 2018-06-30
10-Q 2018-04-30 Quarter: 2018-03-31
10-K 2018-02-26 Annual: 2017-12-31
10-Q 2017-11-07 Quarter: 2017-09-30
10-Q 2017-08-07 Quarter: 2017-06-30
10-Q 2017-05-01 Quarter: 2017-03-31
10-K 2017-02-27 Annual: 2016-12-31
10-Q 2016-10-31 Quarter: 2016-09-30
10-Q 2016-08-01 Quarter: 2016-06-30
10-Q 2016-05-02 Quarter: 2016-03-31
10-K 2016-02-22 Annual: 2015-12-31
10-Q 2015-11-02 Quarter: 2015-09-30
10-Q 2015-08-03 Quarter: 2015-06-30
10-Q 2015-05-04 Quarter: 2015-03-31
10-K 2015-02-23 Annual: 2014-12-31
10-Q 2014-11-03 Quarter: 2014-09-30
10-Q 2014-08-04 Quarter: 2014-06-30
10-Q 2014-05-05 Quarter: 2014-03-31
10-K 2014-02-24 Annual: 2013-12-31
10-Q 2013-11-04 Quarter: 2013-09-30
10-Q 2013-08-06 Quarter: 2013-06-30
10-Q 2013-04-30 Quarter: 2013-03-31
10-K 2013-02-26 Annual: 2012-12-31
10-Q 2012-11-07 Quarter: 2012-09-30
10-Q 2012-08-07 Quarter: 2012-06-30
10-Q 2012-05-08 Quarter: 2012-03-31
10-K 2012-02-28 Annual: 2011-12-31
10-Q 2011-11-01 Quarter: 2011-09-30
10-Q 2011-08-02 Quarter: 2011-06-30
10-Q 2011-05-03 Quarter: 2011-03-31
10-K 2011-02-25 Annual: 2010-12-31
10-Q 2010-11-02 Quarter: 2010-09-30
10-Q 2010-08-03 Quarter: 2010-06-30
10-Q 2010-05-04 Quarter: 2010-03-31
10-K 2010-02-23 Annual: 2009-12-31
8-K 2020-01-14 Earnings, Regulation FD
8-K 2019-12-12 Regulation FD, Other Events, Exhibits
8-K 2019-11-06
8-K 2019-11-04 Earnings, Exhibits
8-K 2019-09-12 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-08-26 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2019-08-16 Officers, Exhibits
8-K 2019-08-12 Regulation FD, Exhibits
8-K 2019-08-12 Regulation FD, Exhibits
8-K 2019-08-05 Earnings, Exhibits
8-K 2019-07-24 Earnings, Regulation FD, Exhibits
8-K 2019-06-19 Officers, Exhibits
8-K 2019-06-01 Officers
8-K 2019-05-02 Officers, Shareholder Vote, Exhibits
8-K 2019-04-29 Earnings, Exhibits
8-K 2019-02-27 Officers, Exhibits
8-K 2019-02-25 Earnings, Exhibits
8-K 2019-02-05 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2019-01-28 M&A, Regulation FD, Exhibits
8-K 2019-01-22 Regulation FD, Exhibits
8-K 2019-01-22 Regulation FD, Exhibits
8-K 2019-01-03 Earnings, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-11-27 Officers, Exhibits
8-K 2018-11-05 Earnings, Exhibits
8-K 2018-08-17 M&A, Regulation FD, Exhibits
8-K 2018-08-06 Earnings, Exhibits
8-K 2018-06-28 Officers
8-K 2018-05-25 Officers, Exhibits
8-K 2018-05-03 Shareholder Vote
8-K 2018-04-30 Earnings, Exhibits
8-K 2018-03-23 Enter Agreement, Shareholder Rights, Officers, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-03-05 Enter Agreement, Leave Agreement, Shareholder Rights, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-02-26 Earnings, Exhibits
8-K 2018-01-21 Amend Bylaw, Exhibits
8-K 2018-01-11 M&A, Regulation FD, Exhibits
8-K 2018-01-08 Regulation FD

Tenet Healthcare Financials

THC Metrics, Comps, Filings

Annual | Quarterly

Business

Tenet Healthcare Corporation (together with our subsidiaries, referred to herein as "Tenet," "we" or "us") is a national, diversified healthcare services company. We operate regionally focused, integrated healthcare delivery networks, primarily in large urban and suburban markets. Through our subsidiaries, partnerships and joint ventures, including USPI Holding Company, Inc. ("USPI"), at December 31, 2018, we operated 68 hospitals (three of which we have since divested), 23 surgical hospitals and approximately 475 outpatient centers throughout the United States. In addition, our Conifer Holdings, Inc. ("Conifer") subsidiary provides healthcare business process services in the areas of hospital and physician revenue cycle management and value-based care solutions to healthcare systems, as well as individual hospitals, physician practices, self-insured organizations, health plans and other entities. For financial reporting purposes, our business lines are classified into three separate reportable operating segments - Hospital Operations and other, Ambulatory Care and Conifer. Additional information about our business segments is provided below; statistical data for the segments can be found in Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, of Part II of this report.

We are focused on improving operational effectiveness, increasing capital efficiency and margins, expanding patient access points, enhancing the customer care experience in every part of our operations, and growing our higher-acuity inpatient service lines, as well as aligning service line growth with community demand. We believe our inpatient admissions have been constrained in recent years by increased competition, utilization pressure by managed care organizations, new delivery models that are designed to lower the utilization of acute care hospital services, the effects of higher patient co-pays, co-insurance amounts and deductibles, changing consumer behavior, and adverse economic conditions and demographic trends in certain of our markets. However, we also believe that emphasis on higher-demand clinical service lines (including outpatient services), focus on expanding our ambulatory care business, cultivation of our culture of service, participation in Medicare Advantage health plans that are experiencing higher growth rates than traditional Medicare plans, and contracting strategies that create shared value with payers should help us grow our patient volumes over time.

We continue to exit service lines, businesses and markets that we believe are no longer a core part of our long-term growth strategy. To that end, in 2018 we divested eight hospitals in the United States, as well as all of our operations in the United Kingdom. In addition, in January 2019, we completed the previously announced sale of three hospitals in the Chicago area that we owned at December 31, 2018. We intend to continue to further refine our portfolio of hospitals and other healthcare facilities when we believe such refinements will help us improve profitability, allocate capital more effectively in areas where we have a stronger presence, deploy proceeds on higher-return investments across our business, enhance cash generation and lower our ratio of debt-to-Adjusted EBITDA.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Ensign Group (ENSG) 3,158 21% 17.8 4% 2,322 1,644 2,177 449 104 191 3,400
Healthcare Services Group (HCSG) 2,221 13% 19.2 12% 710 260 1,941 249 85 115 2,205
Tenet Healthcare (THC) 2,125 0% 7.3 1% 23,207 21,028 18,213 0 344 2,221 16,188
Select Medical Holdings (SEM) 2,110 12% 9.4 3% 7,107 5,267 5,278 644 186 573 5,384
MEDNAX (MD) 2,004 0% 12.7 -2% 5,639 2,914 2,652 0 -125 154 1,964
Magellan Health (MGLN) 1,612 71% 10.1 0% 3,078 1,744 7,226 5,110 13 205 2,065
Brookdale Senior Living (BKD) 1,265 22% 11.1 -0% 7,459 6,593 4,250 955 -4 407 4,512
National Healthcare (NHC) 1,262 0% 8.9 6% 1,315 554 993 0 74 141 1,251
Tivity Health (TVTY) 829 36% 12.5 4% 2,016 1,486 859 307 76 150 1,883
Surgery Partners (SGRY) 383 24% 771.5 -2% 4,891 4,532 1,797 437 -93 4 2,720
Catasys (CATS) 311 46% -25.1 -88% 16 28 24 11 -14 -13 319
Community Health Systems (CYH) 307 83% -177.9 -5% 16,132 17,388 13,582 11,338 -883 -77 13,699
American Renal Associates (ARA) 227 0% 8.3 2% 1,147 934 824 0 18 94 781
Capital Senior Living (CSU) 142 0% 78.4 -5% 1,328 1,305 458 0 -63 1 107
Genesis Healthcare (GEN) 129 0% 48.5 -3% 4,643 5,439 4,710 0 -147 26 1,283
Nobilis Health (HLTH) 94 0% 14.0 1% 416 211 285 0 3 15 208
Quorum Health (QHC) 44 89% -19.3 -8% 1,568 1,696 1,804 1,601 -129 -67 1,285
Five Star Senior Living (FVE) 26 0% -1.0 0% 1,250 1,140 1,413 0 0 33 -35
Diversicare Healthcare Services (DVCR) 24 19% -170.7 -7% 510 539 551 107 -35 -1 88
Caladrius Biosciences (CLBS) 23 0.4 -46% 36 7 0 0 -17 -17 -7

Balance Sheet ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash405113364113104171232308
Accounts Receivable1,1431,2781,3452,0382,4042,7042,8972,6162,595
Inventory156161153262276309326289305
PP&E4,3044,3504,29311,5897,7337,9158,0537,0306,993
Assets8,5008,4629,04416,13018,14123,68224,70123,38522,409
Accounts Payable7207607221,0751,1791,3801,3291,1751,207
Long-Term Debt3,9974,2945,15810,86711,82814,97815,49015,16815,010
Liabilities6,6816,9547,81015,00516,95520,45821,22620,98020,302
Stockholders' Equity1,7661,4231,143755651691417-147-119
Income Statement ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue18,313
Cost of Revenue
Gross Profit
R&D
SG&A
Tax-97761125-65-8-733219176
Net Income1,15294133-1047678176-320466
Cash Flow ($MM)2010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating4724975935896871,0265581,2001,049
Cash Investing-420-503-662-2,164-1,322-1,317-43021-115
Cash Financing-337-2863201,324715454232-1,326-1,134