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Revenue by Segment
Breaks down income from different business areas, offering insight into which segments are driving growth and profitability. This can reveal strategic focus areas and potential vulnerabilities in the business model.Tenet’s revenue mix is shifting toward ambulatory care (USPI) as the primary growth and margin engine, while hospitals remain a stable but slower-growing core exposed to exchange enrollment and respiratory-volume headwinds that pressure revenue per admission. The removal of Conifer and intersegment eliminations from the revenue lines reflects a reporting/divestiture change—Conifer still matters to cash flow via tax payments. Management’s Q1 outperformance, targeted USPI M&A and productivity/AI initiatives indicate capital is being redeployed into higher‑margin ambulatory growth while shrinking legacy complexity.
Date | Intersegment Eliminations | Hospital Operations | Ambulatory Care | Conifer |
|---|---|---|---|---|
Jun 30, 2026 | $0.00 | $4.24B | $1.39B | $0.00 |
Mar 31, 2026 | $0.00 | $4.05B | $1.32B | $0.00 |
Dec 31, 2025 | $0.00 | $4.09B | $1.43B | $0.00 |
Sep 30, 2025 | $0.00 | $4.01B | $1.27B | $0.00 |
Jun 30, 2025 | $0.00 | $4.00B | $1.27B | $0.00 |
Mar 31, 2025 | $0.00 | $4.03B | $1.19B | $0.00 |
Dec 31, 2024 | $0.00 | $3.81B | $1.26B | $0.00 |
Sep 30, 2024 | $0.00 | $3.98B | $1.14B | $0.00 |
Jun 30, 2024 | $0.00 | $3.96B | $1.14B | $0.00 |
Mar 31, 2024 | $0.00 | $4.37B | $995.00M | $0.00 |