Tenet Healthcare Corporation (THC)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 5,248,000 | 5,112,000 | 4,535,000 | 4,321,000 | 1,617,000 | 1,419,000 | 1,454,000 | 1,346,000 | 1,344,000 | 1,551,000 | 1,945,000 | 1,999,000 | 1,888,000 | 2,036,000 | 958,000 | 853,000 | 671,000 | 210,000 | 381,000 | 307,000 |
| Revenue (ttm) | US$ in thousands | 20,665,000 | 20,972,000 | 20,916,000 | 20,895,000 | 20,548,000 | 20,159,000 | 19,894,000 | 19,450,000 | 19,174,000 | 19,040,000 | 19,133,000 | 19,449,000 | 19,485,000 | 19,544,000 | 19,207,000 | 17,901,000 | 17,640,000 | 17,531,000 | 17,542,000 | 18,454,000 |
| Pretax margin | 25.40% | 24.38% | 21.68% | 20.68% | 7.87% | 7.04% | 7.31% | 6.92% | 7.01% | 8.15% | 10.17% | 10.28% | 9.69% | 10.42% | 4.99% | 4.77% | 3.80% | 1.20% | 2.17% | 1.66% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $5,248,000K ÷ $20,665,000K
= 25.40%
The pretax margin of Tenet Healthcare Corporation has shown variability over the period under review. Starting at a modest 1.66% in March 2020, the margin experienced fluctuations, reaching a low of 1.20% in September 2020 before demonstrating an upward trend. By the end of 2020, the pretax margin had significantly improved to 3.80%, and this positive momentum continued into 2021, where it reached 4.99% in June.
During the latter part of 2021 and throughout 2022, the pretax margin maintained a strong performance, consistently above 8% with a peak of 10.42% in September 2021. However, towards the end of 2022 and into 2023, there was a slight decline in the margin, hovering between 6.92% and 7.87%.
The most notable increase in the pretax margin occurred in the first half of 2024, with substantial growth from 7.31% in June to 25.40% by December. This significant improvement reflects a period of enhanced profitability and operational efficiency for Tenet Healthcare Corporation.
Peer comparison
Dec 31, 2024