HCA vs THC
HCA Healthcare, Inc. and Tenet Healthcare Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | HCA | THC |
|---|---|---|
| Revenue | $75.6B | $21.3B |
| Net income | $6.8B | $2.4B |
| Gross margin | · | · |
| Net margin | 10.3% | 11.1% |
| Return on equity | · | · |
| Diluted EPS | $28.33 | $15.49 |
| Dividend / share | $2.88 | · |
| Payout ratio | 10.0% | · |
| Free cash flow | $7.7B | $2.5B |
| Equity | $-6.0B | $4.2B |
| Net debt / equity | · | 2.42× |
| Current ratio | 0.97× | 1.76× |
| Revenue CAGR 5y | 8.0% | 3.9% |
| Profit CAGR 5y | 12.6% | 25.2% |
HCA bills 3.5× the revenue of THC, and THC keeps more of each dollar of revenue as profit (11.1% against 10.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | HCA | THC |
|---|---|---|
| FY2025 | $75.6B | $21.3B |
| FY2024 | $70.6B | $20.7B |
| FY2023 | $65.0B | $20.6B |
| FY2022 | $60.2B | $19.2B |
| FY2021 | $58.8B | $19.5B |
| FY2020 | $51.5B | $17.6B |
| FY2019 | $51.3B | $18.5B |
| FY2018 | $46.7B | $18.3B |
| FY2017 | $43.6B | $20.6B |
| FY2016 | $41.5B | $21.1B |
Bottom line
| Fiscal year | HCA | THC |
|---|---|---|
| FY2025 | $6.8B | $2.4B |
| FY2024 | $5.8B | $4.1B |
| FY2023 | $5.2B | $1.3B |
| FY2022 | $5.6B | $1.0B |
| FY2021 | $7.0B | $1.5B |
| FY2020 | $3.8B | $768.0M |
| FY2019 | $3.5B | $171.0M |
| FY2018 | $3.8B | $459.0M |
| FY2017 | $2.2B | $-320.0M |
| FY2016 | $2.9B | $176.0M |
16 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$54,290,000,000 | HCA |
| FY2024 | +$49,928,000,000 | HCA |
| FY2023 | +$44,404,000,000 | HCA |
| FY2022 | +$41,059,000,000 | HCA |
| FY2021 | +$39,267,000,000 | HCA |
| FY2020 | +$33,893,000,000 | HCA |
| FY2019 | +$32,857,000,000 | HCA |
| FY2018 | +$28,364,000,000 | HCA |
| FY2017 | +$23,001,000,000 | HCA |
| FY2016 | +$20,420,000,000 | HCA |
| FY2014 | +$19,010,000,000 | HCA |
| FY2013 | +$22,123,000,000 | HCA |
| FY2012 | +$23,109,000,000 | HCA |
| FY2011 | +$21,028,000,000 | HCA |
| FY2010 | +$19,770,000,000 | HCA |
| FY2009 | +$18,458,000,000 | HCA |
HCA has reported the higher revenue in every one of these 16 fiscal years. The gap has widened since the earliest year compared.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.
16 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −0.8 pp | THC |
| FY2024 | −10.2 pp | THC |
| FY2023 | +3.0 pp | HCA |
| FY2022 | +6.1 pp | HCA |
| FY2021 | +5.6 pp | HCA |
| FY2020 | +4.2 pp | HCA |
| FY2019 | +7.1 pp | HCA |
| FY2018 | +6.9 pp | HCA |
| FY2017 | +7.8 pp | HCA |
| FY2016 | +7.4 pp | HCA |
| FY2014 | +6.0 pp | HCA |
| FY2013 | +6.7 pp | HCA |
| FY2012 | +4.7 pp | HCA |
| FY2011 | +8.5 pp | HCA |
| FY2010 | −8.3 pp | THC |
| FY2009 | +2.8 pp | HCA |
The higher net margin has changed hands between HCA and THC over this period.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
THC's net margin has been more volatile than HCA's over the 16 comparable fiscal years — 5.7 percentage points of standard deviation against 2.2.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between HCA and THC over these 16 fiscal years — HCA led in 13 and THC in 3.
16 of 18 comparable fiscal years — a year missing data on either side is not counted.