Tenet Healthcare Corporation Financial Ratios — THC Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	37.83
Return on Assets (%)	0.97	1.74	-1.05	0.07	-0.67	-0.79	-2.93	0.45	-0.94	1.58	3.34	1.5	2.2	11.18	4.8
Return on Capital (%)	9.7	11.58	- -	4.37	0.94	0.96	- -	3.19	-0.74	- -	6.29	2.73	3.52	15.15	5.32
Return on Invested Capital (%)	8.31	8.37	- -	6.33	5.14	6.17	- -	6.98	5.06	- -	9.79	9.07	9.85	10.69	13.25
Gross Margin (%)	82.11	82.98	83.91	84.16	84.1	84.08	83.91	83.6	83.46	83.1	82.92	82.93	82.54	82.36	82.26
EBITDA Margin (%)	13.01	13.19	11.97	11.68	11.8	11.77	11.78	13.15	13.82	16.99	16.75	16.97	16.11	18.07	20.19
Operating Margin (%)	8.41	8.48	7.05	6.57	7.52	7.44	7.24	8.78	9.22	12.13	12.36	12.58	11.88	14.11	16.14
Incremental Operating Margin (%)	18.51	9.68	0.46	5.6	15.26	5.98	16.06	-25.17	57.83	-52.09	14.58	-0.96	2.23	427.03	82.2
Pretax Margin (%)	1.9	3.66	-1.43	0.89	0.77	1.26	-0.53	3.43	1.73	3.8	9.69	7.01	7.86	25.38	13.14
Profit Margin (%)	0.95	1.67	-1.21	0.07	-0.75	-0.98	-3.67	0.57	-1.16	2.26	4.69	2.14	2.97	15.48	6.6
Net Income to Common Margin (%)	0.67	1.55	-1.21	0.07	-0.75	-0.98	-3.67	0.57	-1.16	2.26	4.69	2.14	2.97	15.48	6.6
Effective Tax Rate (%)	37.2	37.43	- -	33.33	47.22	27.02	- -	27.5	50	- -	21.77	25.58	18.92	22.56	15.46
Dvd Payout Ratio (%)	- -	1.68	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	37.83

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	4,360	5,252	10,849	11,617	14,510	15,255	14,937	14,826	14,751	15,719	15,646	15,079	15,002	13,173	13,171
ST Debt	66	94	153	112	127	191	146	182	171	145	135	145	120	92	79
LT Debt	4,294	5,158	10,696	11,505	14,383	15,064	14,791	14,644	14,580	15,574	15,511	14,934	14,882	13,081	13,092
Total Debt/EBITDA	3.87	4.37	8.18	5.99	6.6	6.6	6.61	6.15	5.78	5.24	4.79	4.64	4.53	3.53	3.06
Net Debt/EBITDA	3.77	4.06	8.09	5.89	6.44	6.29	6.34	5.98	5.68	4.43	4.07	4.37	4.16	2.72	2.39
Total Debt/EBIT	5.99	6.79	13.87	10.65	10.36	10.45	10.75	9.23	8.66	7.35	6.49	6.25	6.14	4.52	3.83
Net Debt/EBIT	5.83	6.32	13.73	10.47	10.1	9.96	10.31	8.97	8.51	6.2	5.51	5.9	5.64	3.48	2.99
EBITDA to Interest Expense	3	2.92	2.8	2.57	2.41	2.36	2.2	2.4	2.59	2.99	3.54	3.66	3.68	4.52	5.24
EBITDA-CapEx/Interest Expense	1.74	1.69	1.34	1.34	1.49	1.47	1.51	1.78	1.91	2.45	2.82	2.8	2.84	3.39	4.01
EBIT to Interest Expense	1.94	1.88	1.65	1.45	1.54	1.49	1.35	1.6	1.73	2.13	2.61	2.71	2.71	3.53	4.19
Interest Expense	375	412	474	754	912	979	1,028	1,004	985	1,003	923	890	901	826	821
Common Equity/Total Assets	-16.93	-14.16	-8.6	-7.82	-6.52	-7.02	-10.19	-9.95	-10.73	-7.82	-4.37	-2.93	-0.65	10.42	14.9
Long-Term Debt/Equity (%)	284.75	417.99	878.16	970.07	446.12	433.5	615.01	695.02	750.39	539.08	364.36	324.09	270.19	153.05	145.9
Long-Term Debt/Capital (%)	128.33	126.98	108.07	107.03	92.79	90.87	97.91	98.79	99.83	94.62	87.79	84.14	79.51	63.61	58.59
Long-Term Debt/Total Assets (%)	50.74	57.03	65.02	64.09	60.73	60.99	63.25	65.35	62.4	57.46	56.24	54.99	52.56	45.21	44.11
Total Debt/Equity (%)	289.12	425.61	890.72	979.51	450.06	438.99	621.08	703.65	759.19	544.1	367.54	327.24	272.37	154.12	146.78
Total Debt/Capital (%)	130.3	129.3	109.62	108.08	93.61	92.02	98.88	100.02	101	95.5	88.55	84.95	80.15	64.06	58.94
Total Debt/Total Assets (%)	51.52	58.07	65.95	64.72	61.27	61.76	63.87	66.16	63.13	57.99	56.73	55.53	52.99	45.52	44.38
Net Debt to Equity	281.63	396.11	881.44	963.24	439.02	418.39	595.68	684.15	745.7	459.43	312	308.62	250.07	118.8	114.66
Net Debt/Capital (%)	131.36	132.18	109.73	108.22	93.46	91.66	98.83	100.02	101.02	94.72	86.78	84.19	78.75	57.87	52.86
EBITDA	1,126	1,203	1,327	1,940	2,198	2,310	2,259	2,409	2,553	2,997	3,264	3,253	3,313	3,735	4,302
EBITDA-CapEx	651	695	636	1,007	1,356	1,435	1,552	1,792	1,883	2,457	2,606	2,491	2,562	2,804	3,292
Operating Income (Loss)	728	773	782	1,091	1,401	1,460	1,389	1,607	1,703	2,140	2,409	2,412	2,443	2,917	3,439

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.06	0.21	0.04	0.05	0.08	0.18	0.14	0.11	0.06	0.5	0.46	0.19	0.26	0.7	0.65
Current Ratio	1.3	1.52	1.19	1.11	1.2	1.3	1.29	1.2	1.21	1.47	1.38	1.34	1.51	1.78	1.76
Quick Ratio	0.77	0.97	0.65	0.73	0.71	0.9	0.75	0.78	0.72	1.06	1.23	1.1	1.1	1.54	1.51
CFO/Avg Current Liab	0.28	0.33	0.24	0.21	0.26	0.13	0.29	0.26	0.31	0.75	0.31	0.23	0.51	0.45	0.81
Common Equity/Total Assets	-16.93	-14.16	-8.6	-7.82	-6.52	-7.02	-10.19	-9.95	-10.73	-7.82	-4.37	-2.93	-0.65	10.42	14.9
Long-Term Debt/Equity (%)	284.75	417.99	878.16	970.07	446.12	433.5	615.01	695.02	750.39	539.08	364.36	324.09	270.19	153.05	145.9
Long-Term Debt/Capital (%)	128.33	126.98	108.07	107.03	92.79	90.87	97.91	98.79	99.83	94.62	87.79	84.14	79.51	63.61	58.59
Long-Term Debt/Total Assets (%)	50.74	57.03	65.02	64.09	60.73	60.99	63.25	65.35	62.4	57.46	56.24	54.99	52.56	45.21	44.11
Total Debt/Equity (%)	289.12	425.61	890.72	979.51	450.06	438.99	621.08	703.65	759.19	544.1	367.54	327.24	272.37	154.12	146.78
Total Debt/Capital (%)	130.3	129.3	109.62	108.08	93.61	92.02	98.88	100.02	101	95.5	88.55	84.95	80.15	64.06	58.94
Total Debt/Total Assets (%)	51.52	58.07	65.95	64.72	61.27	61.76	63.87	66.16	63.13	57.99	56.73	55.53	52.99	45.52	44.38
CFO/Total Liabilities	7.15	7.59	3.87	4.1	5.02	2.63	5.72	5.17	5.76	14.07	6.72	4.8	10.41	10.04	17.1
CFO/CapEx	1.05	1.17	0.85	0.74	1.22	0.64	1.7	1.7	1.84	6.31	2.38	1.42	3.16	2.2	3.5
Altman's Z-Score	1.55	1.73	1.22	1.62	1.56	1.56	1.54	1.65	1.6	1.57	1.89	1.92	2.08	2.65	3.02

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	7.15	6.95	6.85	7.73	7.3	7.01	6.96	7.03	6.92	6.49	7.14	6.71	7.02	7.59	8.36
Days Sales Outstanding	51.06	52.49	53.25	47.2	50.03	52.1	52.46	51.93	52.72	56.21	51.14	54.38	51.98	48.11	43.69
Inventory Turnover	9.77	9.89	8.64	9.81	10.13	9.84	10.03	10.11	9.94	8.8	8.85	8.3	8.8	9.64	10.89
Days Inventory Outstanding	37.37	36.92	42.25	37.19	36.03	37.1	36.38	36.09	36.71	41.49	41.24	43.99	41.48	37.88	33.51
Accounts Payable Turnover	2.1	2.08	2.09	2.34	2.34	2.32	2.43	2.54	2.54	2.52	2.67	2.35	2.47	2.65	2.85
Accounts Payable Turnover Days	173.92	175.17	174.39	156.15	155.88	157.4	149.93	143.95	143.7	144.74	136.82	155.35	147.79	137.66	128.07
Cash Conversion Cycle	-85.49	-85.75	-78.89	-71.76	-69.82	-68.21	-61.09	-55.93	-54.27	-47.04	-44.44	-56.98	-54.33	-51.68	-50.88
Inventory to Cash Days	13.68	15.57	11	10.01	14	15	16.08	15.84	16	14.71	9.9	10.38	10.5	10.23	10.18
Inventories	161	153	260	276	309	326	289	305	310	368	384	405	411	346	348
Raw Materials	161	153	260	276	309	326	289	305	310	368	384	405	411	346	348
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	2,405	3,383	4,281	4,956	3,005	1,474	1,525	1,750	3,932	4,193	8,727	5,217	7,681	12,232	17,915
- Cash & Cash Equivalents	113	364	113	193	356	716	611	411	262	2,446	2,364	858	1,228	3,019	2,883
+ Preferred Equity and Hybrid Capital	334	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	85	91	463	535	2,533	3,058	2,552	2,226	2,360	2,861	3,229	3,466	3,900	4,376	4,753
+ Total Debt	4,360	5,252	10,849	11,617	14,510	15,255	14,937	14,826	14,751	15,719	15,646	15,079	15,002	13,173	13,171
Enterprise Value	7,071	8,362	15,480	16,915	19,692	19,071	18,403	18,391	20,781	20,327	25,238	22,904	25,355	26,762	32,956
Total Capital	3,346	4,062	9,897	10,749	15,500	16,578	15,106	14,823	14,605	16,459	17,669	17,750	18,718	20,565	22,347
Total Debt/Capital (%)	130.3	129.3	109.62	108.08	93.61	92.02	98.88	100.02	101	95.5	88.55	84.95	80.15	64.06	58.94
Total Debt / EV	0.62	0.63	0.7	0.69	0.74	0.8	0.81	0.81	0.71	0.77	0.62	0.66	0.59	0.49	0.4
EV/Sales	0.82	0.92	1.4	1.02	1.06	0.97	0.96	1	1.12	1.15	1.3	1.19	1.23	1.29	1.55
EV/EBITDA	6.28	6.95	11.67	8.72	8.96	8.26	8.15	7.63	8.14	6.78	7.73	7.04	7.65	7.17	7.66
EV/EBIT	9.71	10.82	19.8	15.5	14.06	13.06	13.25	11.44	12.2	9.5	10.48	9.5	10.38	9.17	9.58
EV/Cash Flow to Firm	9.65	9.83	17.83	14.22	13.06	14.99	4.13	10.35	12.04	4.46	11.02	13.12	8.17	9.96	7.78
EV/Free Cash Flow to Firm	5.86	6.15	9.93	7.97	8.38	8.88	3.56	7.68	8.68	3.99	8.56	9.13	6.58	7.4	6.28
Diluted Market Cap	2,489	3,537	4,281	5,082	3,005	1,474	1,525	1,781	3,932	4,243	8,869	5,392	7,920	12,356	18,050
Diluted Enterprise Value	7,155	8,516	15,480	17,041	19,692	19,071	18,403	18,422	20,781	20,377	25,380	23,079	25,594	26,886	33,091
EV per Share	60.34	80.25	152.29	172.95	198.57	192.01	182.95	180.11	200.98	193.57	236.24	214.2	249.46	276.17	365.56
TTM Sales	8,654	9,119	11,087	16,603	18,634	19,621	19,179	18,313	18,479	17,640	19,485	19,174	20,564	20,675	21,310
TTM EBITDA	1,126	1,203	1,327	1,940	2,198	2,310	2,259	2,409	2,553	2,997	3,264	3,253	3,313	3,735	4,302
TTM Operating Income	728	773	782	1,091	1,401	1,460	1,389	1,607	1,703	2,140	2,409	2,412	2,443	2,917	3,439
TTM Cash Flow to Firm	733	851	868	1,190	1,507	1,273	4,457	1,777	1,726	4,555	2,290	1,745	3,104	2,687	4,234
TTM Free Cash Flow to Firm	1,208	1,359	1,559	2,123	2,349	2,148	5,164	2,394	2,396	5,095	2,948	2,507	3,855	3,618	5,244

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	2.56	3.21	3.34	3.14	1.61	1.03	0.8	1.07	2.07	1.08	3.98	2.92	2.53	4.15	3.97
EV/EBIT	9.71	10.82	19.8	15.5	14.06	13.06	13.25	11.44	12.2	9.5	10.48	9.5	10.38	9.17	9.58
Enterprise Value	7,071	8,362	15,480	16,915	19,692	19,071	18,403	18,391	20,781	20,327	25,238	22,904	25,355	26,762	32,956
Low Price	13.84	17.24	33	37.95	26.6	14.06	12.25	14.5	16.77	10	38.03	36.69	48.19	73.21	109.82
EV/Sales	0.82	0.92	1.4	1.02	1.06	0.97	0.96	1	1.12	1.15	1.3	1.19	1.23	1.29	1.55
EV/EBITDA	6.28	6.95	11.67	8.72	8.96	8.26	8.15	7.63	8.14	6.78	7.73	7.04	7.65	7.17	7.66
Price/Earnings	41.46	24	- -	412.96	- -	- -	- -	16.83	- -	10.51	9.55	12.69	12.57	3.82	12.73
Price/Earnings Average	47.1	16.59	-32.24	402.81	-32.26	-12.88	-2.39	26.63	-11.91	6.99	7.52	16.71	11.02	3.88	10.64
Price/Earnings High	62.23	25.02	-37.53	518.43	-43.16	-17.63	-3.25	39.02	-18.93	11.26	9.78	24.1	14.21	5.18	14.28
Price/Earnings Low	27.96	12.74	-25.03	309.3	-18.84	-7.27	-1.75	14.24	-8.07	2.63	4.45	9.55	8.02	2.22	7.04
Price/Book Value	-1.68	-2.64	-3.03	-3.53	-1.95	-0.85	-0.64	-0.79	-1.57	-1.98	-7.24	-6.56	-41.74	4.06	4.05
Price/Book Value Average	-1.91	-1.83	-3.05	-3.45	-2.93	-1.43	-0.71	-1.24	-1.02	-1.32	-5.7	-8.64	-36.6	4.11	3.39
Price/Book Value High	-2.52	-2.75	-3.55	-4.43	-3.92	-1.95	-0.96	-1.82	-1.62	-2.12	-7.41	-12.46	-47.17	5.5	4.54
Price/Book Value Low	-1.13	-1.4	-2.37	-2.65	-1.71	-0.8	-0.52	-0.66	-0.69	-0.5	-3.37	-4.94	-26.62	2.35	2.24
Price/Tangible Book Value	-47.15	-10.19	-1.24	-1.3	-0.55	-0.25	-0.24	-0.25	-0.57	-0.56	-1.34	-0.75	-1.25	-3.45	-5.01
Price/Tangible Book Value Average	-53.56	-7.05	-1.25	-1.27	-0.83	-0.43	-0.26	-0.4	-0.37	-0.37	-1.06	-0.99	-1.09	-3.5	-4.19
Price/Tangible Book Value High	-70.77	-10.63	-1.46	-1.63	-1.11	-0.58	-0.36	-0.59	-0.59	-0.6	-1.38	-1.43	-1.41	-4.69	-5.62
Price/Tangible Book Value Low	-31.8	-5.41	-0.97	-0.97	-0.49	-0.24	-0.19	-0.21	-0.25	-0.14	-0.62	-0.57	-0.79	-2	-2.77
Price/Sales	0.28	0.37	0.39	0.3	0.16	0.08	0.08	0.1	0.21	0.24	0.45	0.27	0.37	0.59	0.84
Price/Sales Average	0.32	0.26	0.39	0.29	0.24	0.13	0.09	0.15	0.14	0.16	0.35	0.36	0.33	0.6	0.7
Price/Sales High	0.42	0.39	0.45	0.37	0.32	0.17	0.12	0.22	0.22	0.25	0.46	0.52	0.42	0.8	0.94
Price/Sales Low	0.19	0.2	0.3	0.22	0.14	0.07	0.06	0.08	0.09	0.06	0.21	0.2	0.24	0.34	0.46
Price/Cash Flow	4.84	5.71	7.27	7.21	2.93	2.64	1.27	1.67	3.19	1.23	5.57	4.82	3.24	5.98	5.06
Price/Cash Flow Average	5.5	3.95	7.34	7.04	4.4	4.43	1.4	2.64	2.08	0.82	4.38	6.34	2.84	6.06	4.23
Price/Cash Flow High	7.26	5.95	8.54	9.06	5.89	6.07	1.9	3.87	3.3	1.32	5.7	9.15	3.66	8.1	5.67
Price/Cash Flow Low	3.26	3.03	5.7	5.4	2.57	2.5	1.03	1.41	1.41	0.31	2.59	3.62	2.06	3.47	2.8
Price/Free Cash Flow Average	2.91	2.22	3.38	3.06	2.42	1.73	0.88	1.69	1.35	0.72	3.14	3.85	2.22	4.21	3.32
Price/Free Cash Flow High	3.84	3.35	3.93	3.94	3.23	2.36	1.2	2.48	2.14	1.15	4.08	5.55	2.86	5.63	4.45
Price/Free Cash Flow Low	1.73	1.71	2.62	2.35	1.41	0.97	0.65	0.9	0.91	0.27	1.85	2.2	1.62	2.41	2.19
EV/Sales Average	0.85	0.8	1.4	1.01	1.14	1.02	0.97	1.06	1.05	1.07	1.2	1.28	1.19	1.3	1.41
EV/Sales High	0.96	0.93	1.46	1.09	1.22	1.07	1	1.13	1.13	1.17	1.31	1.44	1.28	1.51	1.65
EV/Sales Low	0.73	0.74	1.31	0.94	1.04	0.97	0.94	0.99	1.01	0.97	1.06	1.13	1.1	1.05	1.17
EV/EBITDA Average	6.57	6.08	11.7	8.66	9.65	8.69	8.22	8.06	7.6	6.31	7.16	7.55	7.37	7.21	6.98
EV/EBITDA High	7.35	7.07	12.23	9.37	10.34	9.08	8.48	8.59	8.19	6.88	7.8	8.48	7.95	8.33	8.17
EV/EBITDA Low	5.58	5.63	10.97	8.08	8.79	8.22	8.02	7.52	7.28	5.73	6.3	6.64	6.81	5.79	5.8
EV/EBIT Average	10.16	9.47	19.85	15.39	15.13	13.75	13.36	12.08	11.4	8.84	9.71	10.18	9.99	9.23	8.73
EV/EBIT High	11.37	11.01	20.75	16.66	16.22	14.37	13.8	12.88	12.28	9.64	10.57	11.44	10.79	10.67	10.21
EV/EBIT Low	8.64	8.77	18.61	14.36	13.79	13.01	13.04	11.28	10.91	8.03	8.54	8.96	9.24	7.41	7.25
Last Price	20.52	32.47	42.12	50.67	30.3	14.84	15.16	17.14	38.03	39.93	81.69	48.79	75.57	126.23	198.72
High Price	30.8	33.86	49.48	63.61	60.93	34.08	22.72	39.74	39.37	42.78	83.69	92.65	85.4	171.2	222.82
Enterprise Value Average	7,398	7,319	15,519	16,793	21,203	20,070	18,563	19,411	19,409	18,924	23,382	24,554	24,408	26,935	30,014
Enterprise Value High	8,275	8,507	16,228	18,180	22,729	20,982	19,163	20,699	20,920	20,626	25,452	27,594	26,354	31,120	35,128
Enterprise Value Low	6,288	6,775	14,553	15,671	19,325	18,993	18,110	18,122	18,583	17,184	20,574	21,611	22,572	21,624	24,941

Shares Outstanding	104	105	97	98	98	100	101	103	104	106	107	102	100	95	87
Diluted Weighted Avg Shares	121	109	102	100	99	99	101	104	103	106	109	111	105	98	91
Basic Weighted Avg Shares	117	104	102	98	99	99	101	102	103	105	107	107	102	97	90
Revenue per Share	73.85	87.51	109.07	169.76	187.91	197.55	190.66	179.35	178.72	167.98	182.39	179.32	202.32	213.36	236.38
EBITDA per Share	9.61	11.55	13.05	19.84	22.16	23.26	22.46	23.59	24.69	28.54	30.55	30.42	32.6	38.54	47.72
Operating Income per Share	6.21	7.42	7.69	11.16	14.13	14.7	13.81	15.74	16.47	20.38	22.55	22.56	24.04	30.1	38.15
Basic EPS, GAAP	0.49	1.35	-1.32	0.12	-1.41	-1.93	-7	1.02	-2.08	3.8	8.56	3.84	6.01	33.02	15.61
Basic EPS from Cont Ops	0.88	2.01	-0.91	1	0.77	1.82	-3.18	4.47	1.55	7.31	13.83	9.36	12.9	41.94	26.26
Diluted EPS, GAAP	0.48	1.29	-1.32	0.12	-1.41	-1.93	-7	1	-2.08	3.75	8.42	3.72	5.83	32.69	15.49
Diluted EPS from Cont Ops	0.85	1.92	-0.91	0.98	0.77	1.82	-3.18	4.39	1.55	7.23	13.6	9.06	12.51	41.52	26.06
Dividend per Share	0.2	0.13	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	4.24	5.69	5.79	7.02	10.35	5.62	11.93	10.27	11.92	32.44	14.68	10.13	23.36	21.12	39.27
Free Cash Flow per Basic Share	0.19	0.82	-1	-2.52	1.86	-3.19	4.9	4.23	5.44	27.3	8.52	3	15.97	11.52	28.06
Cash & Equivalents per Share	0.96	3.49	1.11	1.97	3.59	7.21	6.07	4.03	2.53	23.29	22.13	8.02	12.08	31.15	31.98
Book Value per Share	-12.23	-12.29	-13.92	-14.35	-15.56	-17.47	-23.69	-21.83	-24.24	-20.2	-11.29	-7.43	-1.81	31.12	49.06
Tangible Book Value per Share	-0.44	-3.19	-33.97	-39.01	-54.67	-58.35	-63.41	-67.62	-66.84	-71.6	-60.85	-64.89	-60.68	-36.54	-39.63

Tenet Healthcare Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)