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Tenet Healthcare vs Universal Health Services: THC and UHS compared
Tenet Healthcare is the larger company: $5.6B of revenue in its latest quarter (Q3 2026) against $4.7B for Universal Health Services (Q3 2026). Tenet Healthcare is growing faster (+6% against +5% a year earlier). Tenet Healthcare is more profitable, with an operating margin of 31.1% against 9.6%.
Where the money goes: THC and UHS
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.
Universal Health Services (UHS) · Q3 2026
Universal Health Services, Q3 2026: revenue $4.7B (+5% year over year), operating margin 9.6%, net earnings $309M, operating cash flow $637M. The chart follows the revenue to costs, profit and cash.
| Tenet Healthcare (THC) | Universal Health Services (UHS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.6B | $4.7B |
| Revenue growth, Y/Y | +6% | +5% |
| Operating margin | 31.1% | 9.6% |
| Net earnings | $1.0B | $309M |
| Net margin | 17.8% | 6.5% |
| Operating cash flow | $1.3B | $637M |
| Free cash flow | $1.1B | $422M |
| Market value | $23.1B | $11.7B |
| P/E | 8.3× | 7.9× |
| Analysts’ mean target | $304.82 | $193.82 |
Where the revenue comes from
Universal Health Services
- Managed Care: $1.2B (26%)
- Medicaid: $798M (17%)
- Managed Medicaid: $655M (14%)
- Managed Medicare: $576M (12%)
Questions
Which is bigger, Tenet Healthcare or Universal Health Services?
Tenet Healthcare is the larger company: $5.6B of revenue in its latest quarter (Q3 2026) against $4.7B for Universal Health Services (Q3 2026).
Is Tenet Healthcare or Universal Health Services growing faster?
Tenet Healthcare is growing faster (+6% against +5% a year earlier).
Which is more profitable, Tenet Healthcare or Universal Health Services?
Tenet Healthcare is more profitable, with an operating margin of 31.1% against 9.6%.
More: Tenet Healthcare earnings · how Tenet Healthcare makes money · Universal Health Services earnings · how Universal Health Services makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.