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Ardent Health (ARDT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Ardent Health (ARDT) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $1.6B · 3¢ of every $1 of revenue kept as net profit · operating margin 5.0%
Ardent Health made $1.6B in Q3 2026 (+3% Y/Y). Operating margin 5.0%, net earnings $44.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.6B in Q3 2026, up 3% year over year and roughly flat from the previous quarter.
Operating profit was $0.08B, a 5.0% margin (up 5.1 points year over year). Total costs fell 2% while revenue rose 3%. The fastest-growing cost line was General & admin (+16%). Net earnings were $0.04B. The effective tax rate was 21.8%.
Operating cash flow was $0.12B (down 21% year over year), 192% of net income including minority interests. Non-cash charges added back $0.04B of depreciation and amortization. Working capital and other items added $0.02B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $1.6B | +3% | 5.0% | $44.5M | $122M |
| Q2 2026 | 10-Q | Aug 10, 2026 | $1.6B | -1% | 2.7% | $16.9M | $197M |
| Q1 2026 | 10-Q | May 6, 2026 | $1.6B | +7% | 4.7% | $39.9M | −$60.2M |
| Q4 2025 | 10-K | Mar 16, 2026 | $1.6B | -0.1% | 5.8% | $45.0M | $223M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $1.6B | +9% | -0.1% | $1.2M | $154M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $1.6B | +12% | 7.4% | $73.0M | $117M |
| Q1 2025 | 10-Q | May 7, 2025 | $1.5B | +4% | 5.0% | $41.4M | −$24.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Ardent Health
Ardent Health, Inc. was initially formed in Delaware in 2015 as Ardent Health Partners, LLC. On July 17, 2024, Ardent Health Partners, LLC converted from a Delaware limited liability company into a Delaware corporation in connection with its initial public offering and changed its name to Ardent Health Partners, Inc. On June 3, 2025, Ardent Health Partners, Inc. changed its name to Ardent Health, Inc. Ardent Health, Inc. is a holding company that has affiliates that operate acute care hospitals and other healthcare facilities and employ physicians. The terms "Ardent," the "Company," "we," "our" and "us," as used in this Annual Report on Form 10-K ("Annual Report"), refer to Ardent Health, Inc. and its affiliates and, on or prior to July 16, 2024, Ardent Health Partners, LLC and its affiliates, unless stated otherwise or indicated by context.
In its own words, from its 10-K, filed Mar 16, 2026.
Ardent Health against its Services-General Medical & Surgical Hospitals, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +4%. Operating margin: 5.0% against the peers' median 11.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ARDT Ardent Health | Q3 2026 | $1.6B | +3% | 5.0% |
| HCA HCA Healthcare | Q3 2026 | $19.8B | +4% | 11.9% |
| THC Tenet Healthcare | Q3 2026 | $5.6B | +6% | 31.1% |
| UHS Universal Health Services | Q3 2026 | $4.7B | +5% | 9.6% |
| CYH Community Health Systems | Q3 2026 | $2.8B | -11% | 5.3% |
| SGRY Surgery Partners | Q2 2026 | $849M | +3% | 12.0% |
Source: Ardent Health 10-Q on SEC EDGAR · CIK 1756655 · Services-General Medical & Surgical Hospitals, NEC
Guidance and outlook
13F: who owns ARDT and who is buying
More on ARDT
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results