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HCA Healthcare vs Tenet Healthcare: HCA and THC compared
HCA Healthcare is the larger company: $19.8B of revenue in its latest quarter (Q3 2026) against $5.6B for Tenet Healthcare (Q3 2026). Tenet Healthcare is growing faster (+6% against +4% a year earlier). Tenet Healthcare is more profitable, with an operating margin of 31.1% against 11.9%.
Where the money goes: HCA and THC
HCA Healthcare (HCA) · Q3 2026
HCA Healthcare, Q3 2026: revenue $19.8B (+4% year over year), operating margin 11.9%, net earnings $1.6B, operating cash flow $4.5B. The chart follows the revenue to costs, profit and cash.
Tenet Healthcare (THC) · Q3 2026
Tenet Healthcare, Q3 2026: revenue $5.6B (+6% year over year), operating margin 31.1%, net earnings $1.0B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| HCA Healthcare (HCA) | Tenet Healthcare (THC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $19.8B | $5.6B |
| Revenue growth, Y/Y | +4% | +6% |
| Operating margin | 11.9% | 31.1% |
| Net earnings | $1.6B | $1.0B |
| Net margin | 8.0% | 17.8% |
| Operating cash flow | $4.5B | $1.3B |
| Free cash flow | $3.1B | $1.1B |
| Market value | $110.2B | $23.1B |
| P/E | 16.8× | 8.3× |
| Analysts’ mean target | $477.27 | $304.82 |
Questions
Which is bigger, HCA Healthcare or Tenet Healthcare?
HCA Healthcare is the larger company: $19.8B of revenue in its latest quarter (Q3 2026) against $5.6B for Tenet Healthcare (Q3 2026).
Is HCA Healthcare or Tenet Healthcare growing faster?
Tenet Healthcare is growing faster (+6% against +4% a year earlier).
Which is more profitable, HCA Healthcare or Tenet Healthcare?
Tenet Healthcare is more profitable, with an operating margin of 31.1% against 11.9%.
More: HCA Healthcare earnings · how HCA Healthcare makes money · Tenet Healthcare earnings · how Tenet Healthcare makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.