4 models fit Tenet Healthcare Corporation Common Stock and they disagree: 0 of 4 land within 15% of the average.
Two or more of our models back this value.
Discount(i)Silver79
Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, Graham number, and Dividend discount.
ACCE opinionTenet Healthcare Corporation Common Stock (THC)
Fair value (4 models)
$329
ACCE price target
$290
Rating
Undervalued
Horizon
12 months
Fair value published on 14 Oct 2026, 00:00 CEST; previously $339 since 10 Oct 2026, 00:00 CEST.
ACCE price target published on 25 Sept 2026, 00:00 CEST.
Rating published on 18 Oct 2026, 16:04 CEST.
Price used: $268 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, Dividend discount, EV/EBITDA comparison, Graham number, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
18.4% below
+22.5% to fair value
ACCE score
81
out of 100
Analysts
83% buy
23 covering
P/E
10.3x
forward 12.5x
1-year return
+29.7%
Dividend yield
0.00%
Tenet Healthcare Corporation Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Tenet Healthcare runs hospitals, ambulatory surgery centers and outpatient facilities across the US, with its USPI surgery center network and a large acute care hospital base generating most of its revenue. The structural case rests on high-acuity procedures that are shifting out of hospitals and into lower-cost outpatient settings, where Tenet's ambulatory business is positioned to capture volume. Revenue is growing 6.8%, with an 18.2% operating margin and a 37.3% return on equity, and the stock trades at 10.4 times trailing earnings and 12.7 times forward earnings, a modest premium that implies the market is not pricing much of that mix shift. The score of 81 out of 100 flags it for a closer look, and the question for the team is whether the margin profile holds as payor mix and labor costs evolve. The company is not in any major index, which may be part of why the valuation remains this undemanding.