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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.02
THC's Cash to Debt is ranked lower than
51% of the 304 Companies
in the Global Medical Care industry.

( Industry Median: 0.19 vs. THC: 0.02 )
THC' s 10-Year Cash to Debt Range
Min: 0   Max: 0.35
Current: 0.02

0
0.35
Equity to Asset 0.04
THC's Equity to Asset is ranked higher than
51% of the 304 Companies
in the Global Medical Care industry.

( Industry Median: 0.41 vs. THC: 0.04 )
THC' s 10-Year Equity to Asset Range
Min: 0   Max: 0.45
Current: 0.04

0
0.45
Interest Coverage 1.40
THC's Interest Coverage is ranked higher than
54% of the 190 Companies
in the Global Medical Care industry.

( Industry Median: 5.04 vs. THC: 1.40 )
THC' s 10-Year Interest Coverage Range
Min: 0.62   Max: 6.4
Current: 1.4

0.62
6.4
F-Score: 4
Z-Score: 1.19
WACC vs ROIC
5.82%
40.42%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 4.62
THC's Operating margin (%) is ranked higher than
66% of the 306 Companies
in the Global Medical Care industry.

( Industry Median: 9.13 vs. THC: 4.62 )
THC' s 10-Year Operating margin (%) Range
Min: -14.26   Max: 15.05
Current: 4.62

-14.26
15.05
Net-margin (%) -0.45
THC's Net-margin (%) is ranked higher than
63% of the 306 Companies
in the Global Medical Care industry.

( Industry Median: 4.95 vs. THC: -0.45 )
THC' s 10-Year Net-margin (%) Range
Min: -32   Max: 13.5
Current: -0.45

-32
13.5
ROE (%) -9.69
THC's ROE (%) is ranked higher than
56% of the 289 Companies
in the Global Medical Care industry.

( Industry Median: 10.03 vs. THC: -9.69 )
THC' s 10-Year ROE (%) Range
Min: -124.98   Max: 94.78
Current: -9.69

-124.98
94.78
ROA (%) -0.48
THC's ROA (%) is ranked higher than
63% of the 307 Companies
in the Global Medical Care industry.

( Industry Median: 3.91 vs. THC: -0.48 )
THC' s 10-Year ROA (%) Range
Min: -25.08   Max: 13.89
Current: -0.48

-25.08
13.89
ROC (Joel Greenblatt) (%) 9.42
THC's ROC (Joel Greenblatt) (%) is ranked higher than
68% of the 306 Companies
in the Global Medical Care industry.

( Industry Median: 18.78 vs. THC: 9.42 )
THC' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -19.75   Max: 34.13
Current: 9.42

-19.75
34.13
Revenue Growth (3Y)(%) 21.80
THC's Revenue Growth (3Y)(%) is ranked higher than
94% of the 235 Companies
in the Global Medical Care industry.

( Industry Median: 7.20 vs. THC: 21.80 )
THC' s 10-Year Revenue Growth (3Y)(%) Range
Min: -13.7   Max: 34.9
Current: 21.8

-13.7
34.9
EBITDA Growth (3Y)(%) 6.80
THC's EBITDA Growth (3Y)(%) is ranked higher than
77% of the 192 Companies
in the Global Medical Care industry.

( Industry Median: 6.70 vs. THC: 6.80 )
THC' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -47.2   Max: 31.5
Current: 6.8

-47.2
31.5
» THC's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2014

THC Guru Trades in Q1 2014

Manning & Napier Advisors, Inc 220,380 sh (New)
Louis Moore Bacon 8,988 sh (New)
Mario Gabelli 15,000 sh (New)
Steven Cohen 21,789 sh (+56.61%)
Ray Dalio 33,400 sh (+53.71%)
Vanguard Health Care Fund 1,400,000 sh (unchged)
Larry Robbins 13,812,831 sh (unchged)
Jim Simons Sold Out
Jeremy Grantham Sold Out
Paul Tudor Jones Sold Out
» More
Q2 2014

THC Guru Trades in Q2 2014

George Soros 22,150 sh (New)
Louis Moore Bacon 154,841 sh (+1622.75%)
Vanguard Health Care Fund 1,400,000 sh (unchged)
Mario Gabelli 15,000 sh (unchged)
Larry Robbins 13,812,831 sh (unchged)
Manning & Napier Advisors, Inc 220,380 sh (unchged)
Ray Dalio 14,725 sh (-55.91%)
» More
Q3 2014

THC Guru Trades in Q3 2014

Ken Heebner 1,965,000 sh (New)
Jim Simons 68,475 sh (New)
Louis Moore Bacon 162,451 sh (+4.91%)
Vanguard Health Care Fund 1,460,000 sh (+4.29%)
Larry Robbins 13,812,831 sh (unchged)
Ray Dalio Sold Out
George Soros Sold Out
Manning & Napier Advisors, Inc 187,190 sh (-15.06%)
Mario Gabelli 10,000 sh (-33.33%)
» More
Q4 2014

THC Guru Trades in Q4 2014

Vanguard Health Care Fund 1,460,000 sh (unchged)
» More
» Details

Insider Trades

Latest Guru Trades with THC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ken Heebner 2014-09-30 New Buy3.3%$44.97 - $63.27 $ 42.28-24%1965000
George Soros 2014-09-30 Sold Out 0.01%$44.97 - $63.27 $ 42.28-24%0
Ray Dalio 2014-09-30 Sold Out 0.01%$44.97 - $63.27 $ 42.28-24%0
Mario Gabelli 2014-09-30 Reduce -33.33%$44.97 - $63.27 $ 42.28-24%10000
Ray Dalio 2014-06-30 Reduce -55.91%0.01%$38.75 - $49.47 $ 42.28-6%14725
George Soros 2014-06-30 New Buy0.01%$38.75 - $49.47 $ 42.28-6%22150
Ray Dalio 2014-03-31 Add 53.71%$38.9 - $48.33 $ 42.28-4%33400
Mario Gabelli 2014-03-31 New Buy$38.9 - $48.33 $ 42.28-4%15000
John Griffin 2013-12-31 Sold Out 1.5%$39.81 - $48.26 $ 42.28-3%0
David Tepper 2013-12-31 Sold Out 0.14%$39.81 - $48.26 $ 42.28-3%0
Ray Dalio 2013-12-31 Add 31.91%$39.81 - $48.26 $ 42.28-3%21729
John Griffin 2013-09-30 Add 45.52%0.47%$38.23 - $45.62 $ 42.281%3085000
David Tepper 2013-09-30 New Buy0.14%$38.23 - $45.62 $ 42.281%210000
Ray Dalio 2013-09-30 New Buy0.01%$38.23 - $45.62 $ 42.281%16473
Joel Greenblatt 2013-06-30 Sold Out 0.01%$39.26 - $49.25 $ 42.28-6%0
John Griffin 2013-03-31 Add 22.19%0.24%$32.47 - $47.58 $ 42.287%2120000
Andreas Halvorsen 2013-03-31 Sold Out 0.19%$32.47 - $47.58 $ 42.287%0
Joel Greenblatt 2013-03-31 New Buy0.01%$32.47 - $47.58 $ 42.287%5605
John Griffin 2012-12-31 New Buy0.78%$23.29 - $33.5 $ 42.2855%1735000
Andreas Halvorsen 2012-12-31 New Buy0.19%$23.29 - $33.5 $ 42.2855%860500
John Paulson 2012-06-30 Sold Out 0.1%$17.48 - $21.8 $ 42.28112%0
Joel Greenblatt 2012-06-30 Sold Out 0.05%$17.48 - $21.8 $ 42.28112%0
John Paulson 2012-03-31 Reduce -73%0.27%$18.76 - $23.88 $ 42.28107%2700000
Joel Greenblatt 2012-03-31 Add 36.33%0.01%$18.76 - $23.88 $ 42.28107%109586
John Paulson 2011-12-31 Reduce -50%0.2%$14.36 - $21.04 $ 42.28127%10000000
Vanguard Health Care Fund 2011-12-31 Add 7.69%0.01%$14.36 - $21.04 $ 42.28127%5600000
Premium More recent guru trades are included for Premium Members only!!
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Ratios

vs
industry
vs
history
Forward P/E 12.56
THC's Forward P/E is ranked higher than
94% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 25.38 vs. THC: 12.56 )
N/A
P/B 5.65
THC's P/B is ranked higher than
60% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 3.04 vs. THC: 5.65 )
THC' s 10-Year P/B Range
Min: 1.09   Max: 101.5
Current: 5.65

1.09
101.5
P/S 0.25
THC's P/S is ranked higher than
97% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 1.65 vs. THC: 0.25 )
THC' s 10-Year P/S Range
Min: 0.05   Max: 0.72
Current: 0.25

0.05
0.72
POCF 5.79
THC's POCF is ranked higher than
94% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 17.44 vs. THC: 5.79 )
THC' s 10-Year POCF Range
Min: 1.31   Max: 22.8
Current: 5.79

1.31
22.8
EV-to-EBIT 20.71
THC's EV-to-EBIT is ranked higher than
76% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 22.61 vs. THC: 20.71 )
THC' s 10-Year EV-to-EBIT Range
Min: -2497.3   Max: 31.8
Current: 20.71

-2497.3
31.8
Shiller P/E 25.57
THC's Shiller P/E is ranked higher than
88% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 90.55 vs. THC: 25.57 )
THC' s 10-Year Shiller P/E Range
Min: 15.18   Max: 692
Current: 25.57

15.18
692
Current Ratio 1.34
THC's Current Ratio is ranked higher than
73% of the 307 Companies
in the Global Medical Care industry.

( Industry Median: 1.32 vs. THC: 1.34 )
THC' s 10-Year Current Ratio Range
Min: 1.15   Max: 2.38
Current: 1.34

1.15
2.38
Quick Ratio 1.25
THC's Quick Ratio is ranked higher than
74% of the 307 Companies
in the Global Medical Care industry.

( Industry Median: 1.19 vs. THC: 1.25 )
THC' s 10-Year Quick Ratio Range
Min: 1.05   Max: 2.29
Current: 1.25

1.05
2.29
Days Inventory 8.29
THC's Days Inventory is ranked higher than
91% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 40.60 vs. THC: 8.29 )
THC' s 10-Year Days Inventory Range
Min: 8.22   Max: 21.55
Current: 8.29

8.22
21.55
Days Sales Outstanding 49.96
THC's Days Sales Outstanding is ranked higher than
73% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 49.96 vs. THC: 49.96 )
THC' s 10-Year Days Sales Outstanding Range
Min: 46.89   Max: 87.69
Current: 49.96

46.89
87.69

Valuation & Return

vs
industry
vs
history
Price/Median PS Value 0.73
THC's Price/Median PS Value is ranked higher than
93% of the 328 Companies
in the Global Medical Care industry.

( Industry Median: 1.27 vs. THC: 0.73 )
THC' s 10-Year Price/Median PS Value Range
Min: 0.18   Max: 5.13
Current: 0.73

0.18
5.13
Earnings Yield (Greenblatt) 4.80
THC's Earnings Yield (Greenblatt) is ranked higher than
74% of the 307 Companies
in the Global Medical Care industry.

( Industry Median: 4.80 vs. THC: 4.80 )
THC' s 10-Year Earnings Yield (Greenblatt) Range
Min: 3.1   Max: 10.6
Current: 4.8

3.1
10.6
Forward Rate of Return (Yacktman) 9.85
THC's Forward Rate of Return (Yacktman) is ranked higher than
75% of the 211 Companies
in the Global Medical Care industry.

( Industry Median: 11.08 vs. THC: 9.85 )
THC' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -103.1   Max: 14.8
Current: 9.85

-103.1
14.8

Business Description

Industry: Health Care Providers » Medical Care
Compare:CHE, FMS, DVA, FSNUY, BDUUF » details
Traded in other countries:THC1.Germany,
Tenet Healthcare Corporation, a Nevada corporation was incorporated in 1975. It is an investor-owned company whose subsidiaries and affiliates operate regionally focused, integrated health care delivery networks with a significant presence in several large urban and suburban markets. At the core of its networks are acute care and specialty hospitals that, together with its strategically aligned outpatient facilities and related businesses, allow them to provide a comprehensive range of health care services in the communities they serve. The Company primarily operated 77 hospitals, 183 outpatient centers, six health plans, six accountable care networks and Conifer Health Solutions, LLC ("Conifer"), which provides business process solutions to more than 700 hospital and other clients nationwide. It provides comprehensive operational management for revenue cycle functions, including patient access, health information management, revenue integrity and patient financial services. They also offer communications and engagement solutions to optimize the relationship between providers and patients. In addition, its management services offerings have expanded to support value-based performance through clinical integration, financial risk management and population health management. For financial reporting purposes, its business lines are classified into two separate reportable business segments — hospital operations and other, and Conifer. Its subsidiaries operated 77 hospitals, including four academic medical centers, two children's hospitals, three specialty hospitals and a critical access hospital, with a total of 20,293 licensed beds, serving primarily urban and suburban communities in 14 states. Of those hospitals, 72 were owned by its subsidiaries, and five were owned by third parties and leased by its subsidiaries. They are also in the process of constructing the new Resolute Health Hospital and Wellness Campus in New Braunfels, Texas, which is expected to be completed in or around May 2014. In addition, its subsidiaries operated a long-term acute care hospital and owned or leased and operated a number of medical office buildings, all of which were located on, or nearby, its hospital campuses. Furthermore, its subsidiaries operated 183 free-standing and provider-based outpatient centers in 16 states including diagnostic imaging centers, ambulatory surgery centers, urgent care centers and satellite emergency departments, among others. They also owned over 500 physician practices. Many of its hospitals also offer a wide range of clinical research studies, giving patients access to innovative care. The Company also own or control six accountable care networks — in Florida, California, Illinois, Michigan and Texas — and participate in two additional accountable care networks through collaborations with other health care providers in its markets in Arizona and Massachusetts. These networks operate using a range of payment and deliv

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