For most investors, how much a stock's price changes over time is important. This factor can impact your investment portfolio as well as help you compare investment results across sectors and industries.
FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.
What if you'd invested in Tenet Healthcare (THC) ten years ago? It may not have been easy to hold on to THC for all that time, but if you did, how much would your investment be worth today?
Tenet Healthcare's Business In-Depth
With that in mind, let's take a look at Tenet Healthcare's main business drivers.
Founded in 1967 and headquartered in Dallas, TX, Tenet Healthcare Corp., is an investor-owned health care services company, which owns and operates general hospitals and related health care facilities for urban and rural communities in numerous states, and has offices in California and Florida. The company has investments in other health care companies and is one of the largest investor-owned health care delivery systems in the United States.
Tenet Healthcare and its subsidiaries provide healthcare services primarily through general hospitals and related healthcare facilities. Its hospitals offer acute care services, operating and recovery rooms, radiology services, respiratory therapy services, clinical laboratories, and pharmacies; intensive care, critical and coronary care units; physical therapy along with orthopedic, oncology, and outpatient services. The related health care facilities include rehabilitation hospitals, specialty hospitals and long-term care facilities.
As of Dec 31, 2024, the company operated an expansive care network that included 49 hospitals and more than 575 other healthcare facilities, including ambulatory surgery centers, urgent care centers, imaging centers, surgical hospitals, off-campus emergency departments and micro-hospitals through its units, partnerships and joint ventures. Effective fourth-quarter 2023, the company combined its Conifer segment with the Hospital segment and now has two reporting segments: Hospital Operations and Services and Ambulatory Care.
Hospital Segment (78.1% of total segment revenues in 2024): It includes 61 hospitals catering to primarily urban and suburban communities in nine states. The unit also provides a number of services primarily to healthcare providers to assist them in generating sustainable improvements in their operating margins, while also managing patient, physician and employee satisfaction.
Ambulatory Care (21.9%): The company's Ambulatory Care segment includes the operations of its USPI joint venture and its Aspen facilities.
Bottom Line
Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in Tenet Healthcare, ten years ago, you're likely feeling pretty good about your investment today.
A $1000 investment made in February 2016 would be worth $9,313.55, or a 831.35% gain, as of February 24, 2026, according to our calculations. Investors should note that this return excludes dividends but includes price increases.
In comparison, the S&P 500's gained 255.90% and the price of gold went up 310.58% over the same time frame.
Analysts are forecasting more upside for THC too.
Tenet Healthcare's fourth-quarter earnings beat estimates. Its performance is fueled by increasing revenue per adjusted admissions, while its strategy of acquisitions and alliances expands the scale of its business through inorganic growth. The company's revenue per adjusted admission rose 5.3% year over year in 2025. Net operating revenues from the hospital segment are expected to be within $16-$16.6 billion in 2025. As of Dec. 31, 2025, USPI had interests in 533 ambulatory surgery centers and 26 surgical hospitals in 37 states. However, rising expenses might put pressure on its margins in the future. Its operating expenses rose 21% year over year in 2025. The focus of the new administration on reducing government spending can impact hospitals' profits. Its valuation remains a concern. As such, the stock warrants a cautious stance.
Over the past four weeks, shares have rallied 23.09%, and there have been 5 higher earnings estimate revisions in the past two months for fiscal 2026 compared to none lower. The consensus estimate has moved up as well.
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Tenet Healthcare Corporation (THC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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