Filing Flows › Tenet Healthcare (THC) › Q2 2025
Tenet Healthcare (THC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Tenet Healthcare (THC) reported revenue of $5.3B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +0.9% from the quarter before. Operating margin was 15.6%, net earnings $288M (5.5% of revenue).
Tenet Healthcare, Q2 2025: revenue $5.3B (+3% year over year), operating margin 15.6%, net earnings $288M, operating cash flow $936M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.3B | +0.9% | +3% |
| Operating profit | $823M | -13% | +8% |
| Net earnings | $288M | -29% | +11% |
| Operating cash flow | $936M | +15% | +25% |
| Free cash flow | $743M | — | — |
What changed
Revenue was $5.3B in Q2 2025, up 3% year over year and up 1% from the previous quarter.
Operating profit was $0.82B, a 15.6% margin (up 0.7 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, above the 15% margin then. Total costs grew 2% against revenue growth of 3%. Net earnings were $0.29B, up 11% year over year. The effective tax rate was 18.7%.
Operating cash flow was $0.94B (up 25% year over year), 179% of net income including minority interests. Non-cash charges added back $0.21B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.19B. After purchases of property and equipment ($0.19B), free cash flow as the company reports it was $0.74B.
Questions
What was Tenet Healthcare's revenue in the second quarter 2025?
Tenet Healthcare (THC) reported revenue of $5.3B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +0.9% from the quarter before.
Was Tenet Healthcare profitable in the second quarter 2025?
Operating profit was $823M (15.6% of revenue) and net earnings $288M.
Source: Tenet Healthcare 10-Q on SEC EDGAR.