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Tenet HealthcareMIL:1THC 48 Piotroski F-Score is 8 as of Aug. 01, 2026, which is 60% above its 10-year median of 5.00. GuruFocus rates MIL:1THC with a GF Score™ of 48/100 and a GF Value™ of €159.76 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 646 Healthcare Providers & Services companies, Tenet Healthcare ranks better than 97.37% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tenet Healthcare has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Tenet Healthcare's Piotroski F-Score or its related term are showing as below:
MIL:1THC'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 9
Current: 8
During the past 13 years, the highest Piotroski F-Score of Tenet Healthcare was 9. The lowest was 3. And the median was 5.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Tenet Healthcare Piotroski F-Score Related Terms
Tenet Healthcare Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Tenet Healthcare's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MIL:1THC vs DVA, EHC, ENSG: Piotroski F-Score Comparison
For the Medical Care Facilities subindustry, Tenet Healthcare's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tenet Healthcare Piotroski F-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Tenet Healthcare's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Tenet Healthcare's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 291.384 + 316.834 + 607.23 + 716.968 = €1,932 Mil. Cash Flow from Operations was 901.416 + 624.274 + 1419.465 + 507.78 = €3,453 Mil. Revenue was 4506.228 + 4720.058 + 5000.565 + 5243.588 = €19,470 Mil. Gross Profit was 3713.016 + 3857.518 + 4169.3 + 4389.476 = €16,129 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(24882.033 + 25064.136 + 25344.158 + 26990.595 + 26626.768) / 5 = €25781.538 Mil. Total Assets at the begining of this year (Jun25) was €24,882 Mil. Long-Term Debt & Capital Lease Obligation was €11,360 Mil. Total Current Assets was €6,794 Mil. Total Current Liabilities was €4,832 Mil.
Net Income was 425.272 + 303.69 + 375.55 + 249.696 = €1,354 Mil.
Revenue was 4618.526 + 4844.715 + 4831.275 + 4569.957 = €18,864 Mil. Gross Profit was 3824.745 + 3956.565 + 3992.3 + 3761.913 = €15,536 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(27187.185 + 26464.172 + 27633.88 + 27044.225 + 24882.033) / 5 = €26642.299 Mil. Total Assets at the begining of last year (Jun24) was €27,187 Mil. Long-Term Debt & Capital Lease Obligation was €11,350 Mil. Total Current Assets was €6,327 Mil. Total Current Liabilities was €3,703 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Tenet Healthcare's current Net Income (TTM) was 1,932.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Tenet Healthcare's return on assets of this year was 0.07766311. Tenet Healthcare's return on assets of last year was 0.04981053.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Tenet Healthcare's gearing of this year was 0.44064028. Tenet Healthcare's gearing of last year was 0.42601042.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Tenet Healthcare's current ratio of this year was 1.40596371. Tenet Healthcare's current ratio of last year was 1.70873332.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Tenet Healthcare's number of shares in issue this year was 83.964. Tenet Healthcare's number of shares in issue last year was 91.791.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Tenet Healthcare's gross margin of this year was 0.82839991. Tenet Healthcare's gross margin of last year was 0.82353337.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Tenet Healthcare's asset turnover of this year was 0.78250997. Tenet Healthcare's asset turnover of last year was 0.69387371.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Tenet Healthcare has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Tenet Healthcare (MIL:1THC) has a Piotroski F-Score of 8 as of Aug. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tenet Healthcare and its competitors. This is 60% above median its historical median of 5.00. Over the past decade, Tenet Healthcare's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Tenet Healthcare ranks #17 out of 646 companies in the Healthcare Providers & Services industry, placing it in the top 2.6%.
Is Tenet Healthcare's Piotroski F-Score too high?
Tenet Healthcare's current Piotroski F-Score of 8 is 60% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Healthcare Providers & Services industry median Piotroski F-Score is 5.00. Tenet Healthcare's value of 8 is 60% above this industry median. Based on the distribution chart, Tenet Healthcare ranks #17 out of 646 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, Tenet Healthcare has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tenet Healthcare's Piotroski F-Score compare to DVA and EHC?
According to the Healthcare Providers & Services industry distribution chart, Tenet Healthcare ranks #17 out of 646 companies for Piotroski F-Score. This places Tenet Healthcare in the top 3% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Tenet Healthcare's value of 8 is 60% above this benchmark. Historically, Tenet Healthcare's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Tenet Healthcare has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Healthcare Providers & Services company?
The median Piotroski F-Score among Healthcare Providers & Services companies is 5.00, based on 646 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenet Healthcare's current Piotroski F-Score of 8 is 60% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Tenet Healthcare and its competitors. For the Healthcare Providers & Services industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenet Healthcare's current Piotroski F-Score is 8, which is 60% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tenet Healthcare stock overvalued right now?
Based on GuruFocus' analysis, Tenet Healthcare (MIL:1THC) is currently considered Significantly Overvalued. The stock's GF Value™ is €159.76, compared to a current price of €222.00 — trading 39% above its estimated fair value. The current Piotroski F-Score is 8, which is 60% above median its 10-year median of 5.00 and 60% above the Healthcare Providers & Services industry median of 5.00. Tenet Healthcare's overall GF Score™ is 48/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Tenet Healthcare (MIL:1THC), the current Piotroski F-Score is 8 as of Aug. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tenet Healthcare (MIL:1THC) Overvalued in 2026?
Based on GuruFocus' analysis, Tenet Healthcare stock appears to be overvalued.
The current stock price of €222.00 is trading 39% above its estimated GF Value™ of €159.76.
GuruFocus considers Tenet Healthcare to be Significantly Overvalued.
Key valuation signals for MIL:1THC:
Piotroski F-Score: 8 (60% above median its 10-year median of 5.00)
GF Value™: €159.76 vs. price of €222.00 (39% above fair value)
Industry Position: 60% above the Healthcare Providers & Services median (#17 of 646)
No single metric tells the full story. See the MIL:1THC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tenet Healthcare is a Dallas-based healthcare services organization. It operates acute and specialty hospitals (50 as of December 2025) and hundreds of ambulatory surgery centers and other outpatient facilities across the US, primarily in the South. Through its Conifer segment, Tenet also provides revenue cycle management solutions.
48GF Score
Get the complete analysis for MIL:1THC
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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