Tenet Healthcare Corp. income statement & cash flow
In the fiscal year ended Dec 31, 2025, Tenet Healthcare Corp. reported net income of $2.37B on revenue of $21.31B. Operating cash flow was $3.54B and capital expenditures were $1.01B, leaving $2.53B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.62B | $19.18B | $18.31B | $18.48B | $17.64B | $19.48B | $19.17B | $20.56B | $20.68B | $21.31B |
| Operating income | $1.25B | $1.11B | $1.64B | $1.54B | $1.99B | $2.87B | $2.33B | $2.51B | $5.96B | $3.51B |
| Net income | $176.00M | −$320.00M | $459.00M | $171.00M | $768.00M | $1.48B | $1.00B | $1.31B | $4.06B | $2.37B |
| Diluted EPS | −$1.93 | −$7.00 | $1.00 | −$2.08 | $3.75 | $8.42 | $3.79 | $5.71 | $32.70 | $15.49 |
| Operating cash flow | $558.00M | $1.20B | $1.05B | $1.23B | $3.41B | $1.57B | $1.08B | $2.37B | $2.05B | $3.54B |
| Capital expenditures | $875.00M | $707.00M | $617.00M | $670.00M | $540.00M | $658.00M | $762.00M | $751.00M | $931.00M | $1.01B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | 16.5% | 11.1% |
| Dec 2024 | — | 28.8% | 19.7% |
| Dec 2023 | — | 12.2% | 6.4% |
| Dec 2022 | — | 12.2% | 5.2% |
| Dec 2021 | — | 14.7% | 7.6% |
Source: SEC EDGAR XBRL company facts for CIK 70318 (raw data). Most recent filing in this dataset: 10-Q filed Oct 29, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.