Tenet Health (THC)
NYSEHealth CareMedical - Care FacilitiesSnapshot 2026-11-05
$286.46-1.98%
Close 2026-11-05 · 1-day change
NYSEHealth CareMedical - Care FacilitiesSnapshot 2026-11-05
QuarterlyIQ Insights · THC
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | -52.2% |
| Our one-year growth estimate | diamond | 1.3% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
No outside relationship met the current evidence threshold.
Based on historical daily prices through 2026-11-05.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 53.5 percentage points less one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-11-05 · Compared with 18 industry peers · Company calendar date is not available
THC — capital allocation — Creation of a Direct Financial Obligation or an Obligation under an Off-Balan…
Dated 2026-09-22
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On September 22, 2026, Tenet Healthcare Corporation (the “Company”) issued $2,000,000,000 in aggregate principal amount of 6.250% senior notes due 2034 (the “Notes”). The Notes were issued pursuant to an indenture, dated as of November 6, 2001 (the “Base Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee to The Bank of New Y…
Why it matters: Tenet raised its 2026 adjusted EBITDA range after strong results. Results above the low end would back that higher outlook.
Supportive ifFull-year 2026 adjusted EBITDA is at least $5.05 billion, the low end of the latest range.
Worry ifFull-year 2026 adjusted EBITDA is below $5.05 billion. Or, Tenet cuts its latest range before year-end.
Why it matters: Tenet raised its cash flow range and reported $2.524 billion for the first nine months. The full-year result tests that raised range.
Supportive ifFull-year 2026 adjusted free cash flow is at least $2.825 billion, the low end of the latest range.
Worry ifFull-year 2026 adjusted free cash flow is below $2.825 billion, or Tenet lowers its latest range.
Why it matters: Tenet issued $2 billion of notes at 6.250% and used the proceeds to repay older debt. Future results will show the effect on interest costs.
Worry ifTenet reports full-year interest expense above the latest high end of $825 million.
Less concerning ifTenet reports full-year interest expense at or below the latest range's high end of $825 million.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
A larger daily loss that occurred about once in every 20 trading days.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$129 on $10,000 · ±1.3% | How much price usually moves either way. |
| Bad day | $364 loss on $10,000 · 3.6% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $3,408 loss on $10,000 · 34.1% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.