Why THC beats the market
Up 419% over three years while the S&P 500 rose 75%.
“The change was driven by (1) a $300 million increase from 2024 and 2025 acquisitions, de novo development and purchases of controlling interests”
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Up 419% over three years while the S&P 500 rose 75%.
“The change was driven by (1) a $300 million increase from 2024 and 2025 acquisitions, de novo development and purchases of controlling interests”
| Free cash flow up 688% | $321M → $2.53B in 3 years |
| Latest filing | 8-K, Oct 29 |
After its last 4 reports it closed +8.4% on average, higher 3 of 4 times.
Exceptionalfor quality, not price, 7 of 14 chart checks firingWhat the Quality Score means
Well above its recent run. THC scores 20 today, against a median of 16 over its last 20 recorded sessions.
THC is #1 of 6 by Quality Score among Services-General Medical & Surgical Hospitals.
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Share count against a year before: THC -8.4%, SGRY +1.5%, UHS -7.3%.
Expected to report Wed Feb 10, before the open (in 95 days). Expected.
What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.
Sales of $5.6B; a profit of $12.41 a share, from $3.86.
“Adjusted EBITDA 1 was $1.355 billion in third quarter 2026 compared to $1.099 billion in third quarter 2025, reflecting strong same facility revenue growth and disciplined expense management partially offset by unfavorable payer mix due to lower exchange admissions.”
THC's results filing gives no sales by line in a table we read.
| Measure | Figure |
|---|---|
| Adjusted EBITDA | $5.05B to $5.20B |
Sales grew 3.9% a year over 5 years, fiscal 2020 to 2025.
Its share count fell 3.1% a year over 5 years.
| Reported | Gap | Reaction | 5 sessions |
|---|---|---|---|
| Oct 29, 2026 | -3.5% | +0.8% | +8.8% |
| Jul 23, 2026 | +18.1% | +17.2% | +27.0% |
| Apr 30, 2026 | +1.9% | -1.6% | +8.0% |
Sales grew in five of the last seven years, to $21B in 2025. It made a profit in each of the eight years.
11 insiders sold $51.5M across 25 filings in the last 6 months. No open-market buys on record. The newest:
2 trades disclosed in the last six months. The newest:
Officers and directors with a Form 4 in the last 12 months.
In ETFs: THC is under 0.1% of VTI, the most of the 24 funds Breakaway covers, by their holdings as filed for Jun 30, 2026.
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.
“We believe our hospitals and outpatient facilities compete within local areas and regions on the basis of many factors, including: quality of care; location and ease of access; the scope and breadth of services offered; reputation; and the caliber of the facilities, equipment and employees.”
THC scores 20 today, which Breakaway calls Exceptional. It is #1 of 6 in Services-General Medical & Surgical Hospitals by Quality Score, with 7 of 14 chart checks firing. Up 419% over three years while the S&P 500 rose 75%. Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.
THC scores 20 today, which Breakaway calls Exceptional (20 or more). That is #1 of 6 in Services-General Medical & Surgical Hospitals by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind THC's 20.
11 insiders sold $51.5M across 25 filings in the last 6 months. No open-market buys on record. The newest is J. Robert Kerrey, Director, who sold $1.4M on Sep 14. Every filing, with the scored weight, for Pro members.
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