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Stock Ratings / Health Care / THC / options
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Tenet Healthcare Corporation (THC) Options Positioning, Max Pain & Unusual Sweeps

$268.89 -1.60% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $268.76

Tenet Healthcare Corporation (THC) earns a Roarable Rating of B (Buy) with 74/100 RQD Confidence. High-quality cash engine (steady margins, 28% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

ROARABLE B • BUY Cap $21.75B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is THC stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Tenet Healthcare Corporation (NYSE: THC) is rated B (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 74/100 at a spot price of $268.89 (-1.60% 1D, market cap $21.75B). Pillar breakdown: Fundamental Cash Engine 17/20, Institutional 13F & Options Flow 18/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 12/20, and Executive Insider Alignment 17/20. Across 1015 tracked Health Care issuers, THC ranks #35 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does THC compare to EHC and ENSG in the Health Care sector?
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Within the Health Care sector (Hospital/Nursing Management), THC carries a Roarable B (74/100 RQD), trailing P/E of 9.2x, gross margin of —, and ROIC of 27.6%. By comparison, EHC (Encompass Health Corporation) holds a B+ grade (77/100 RQD, P/E 22.9x, ROIC 13.8%, cap $13.41B) and ENSG (The Ensign Group Inc.) posts a C+ grade (68/100 RQD, P/E 31.6x, ROIC 18.0%, cap $10.59B). Among the 5-stock peer group, UHS leads on earnings multiple (7.0x) while THC leads on capital efficiency (27.6% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for THC?
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Per THC's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000070318), Tenet Healthcare Corporation generated $21.31B in revenue (+3.1% YoY), $2.37B in net income, and $2.53B in free cash flow against $29.68B in total assets and $9.32B in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $268.76 (-0.05%)🧬 Cannibal Buyback (-2.64% YoY Shares)⚙️ Cash Engine: 17/20 (A-) • 11.9% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 74/100 (B) historically ranked in the Top 12% of excess returns over the next 90 days (+7.3% avg 90D alpha vs SPY • 69.4% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERBUY • B
025507510074
2-of-3 JEV AI Jury Bullish
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw A · Rk D+
Cash (17)Whales (18)SEC (10)Macro (12)CEO (17)
Each axis scored 0–20
12M PRICE TARGET CONE+7.2% Base Target
$340 Bull$288 Base$220 Bear
📬 FREE THC RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for THC)Realized 20D OHLCV Swing Band: ±6%
Deterministic 5-Pillar Attribution (74/100 Composite)
🔍 WHY THC SCORES 74/100 (B) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Whale & Options Positioning+18/20 pts (24% of score)

20D Institutional Volume Accumulation (±6% realized swing band)

▲ #2 Bullish Driver: Cash Engine Quality+17/20 pts (23% of score)

SEC XBRL FY 2025 (10-K): 11.9% FCF Margin ($2.53B FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: SEC 10-K Forensic Risk10/20 pts (-10 pt drag)

Balance-sheet & 10-K footnote risk deducts 10 pts from forensic ceiling

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
82
Grade A$271.60-0.9% Next Q
Q2 (-2Q)
79
Grade A-$269.13-0.2% Next Q
Q3 (-1Q)
77
Grade B+$268.50+0.1% Next Q
Current
74
Grade B$268.89+7.3% Hist 90D α
Trajectory: A (82) → B (74)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the THC Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 74/100 (B) score, THC faces multiple-compression risk if 9.2x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.64% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($264.53) or 200D SMA ($221.32) invalidates the momentum regime and cuts Target Base ($288.25) toward Bear Floor ($220.49).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $THC• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “THC Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 74%NO 26%Trade / Inspect Odds →
CALL VS. PUT WHALE SHARE
— (No Active Options Snapshot)
Put/Call Ratio: — (No Active Options Snapshot)
MAX-PAIN EXPIRATION MAGNET
— (No Active Options Snapshot)
No active options chain max-pain snapshot on file
HISTORICAL 20D VOLATILITY SWING
±6%
Derived from 20D OHLCV bars (No Active Options Snapshot)

Active Strike Call vs. Put Concentration Ladder (THC)

— (No Active Options Snapshot) — No unusual CBOE strike concentration anomalies recorded in the current database snapshot for THC.

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Whale Flow & Momentum Playbook: Evaluating THC & AI Leaders Without Chasing Tops

  • ✓Institutional whale strikes & implied earnings move audit on THC
  • ✓How disciplined traders manage risk using pre-published trigger & invalidation levels
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on tracked leaders
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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THC // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +45.07%⚡ TESTING RESISTANCE
2026-11-03O $270.6H $273.3L $268.9C $268.9VOL 1.21M
RES: $276.8SUP: $259.4SMA50: $264.5SMA200: $221.3
$291.8$255.4$219.1$182.7$146.3RES $276.8SUP $259.4$268.92026-05-042026-06-182026-08-052026-09-212026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

THC Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 THC Butterfly Map → + Track THC →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
-2.8%/yr Implied 5Y Growth

vs. +3.1% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on THC today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for THC. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for THC today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (THC)

Health Care Rank #35 of 1015 ⚔️ EHC vs THC Full Matrix →

1. Head-to-Head Health Care Peer Comparison (THC vs. EHC, ENSG, UHS, PACS)

Industry: Hospital/Nursing Management (14 Tracked Issuers)

Across 1015 tracked Health Care securities in the Roarable RQD universe, Tenet Healthcare Corporation (THC) ranks #35 by composite RQD confidence (74/100, grade B) and #70 by equity capitalization ($21.75B). Within this direct 5-issuer industry benchmark cohort, UHS leads on earnings valuation at 7.0x trailing P/E, while THC leads on capital efficiency and profitability with 27.6% ROIC and — gross margin. EHC currently holds the highest overall quantitative score in the immediate peer group at 77/100 (B+) compared with THC at 74/100 (B).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
THC ACTIVE
Tenet Healthcare Corporation
B 74/100 9.2x — 27.6% -1.60% $21.75B Benchmark Subject
EHC
Encompass Health Corporation
B+ 77/100 22.9x — 13.8% +0.95% $13.41B /ehc-vs-thc →
ENSG
The Ensign Group Inc.
C+ 68/100 31.6x 20.1% 18.0% -1.35% $10.59B /ensg-vs-thc →
UHS
Universal Health Services Inc.
C 62/100 7.0x — 14.1% +2.61% $10.38B /uhs-vs-thc →
PACS
PACS Group Inc.
B 73/100 41.1x — 24.6% -4.66% $7.57B /pacs-vs-thc →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0000070318 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Tenet Healthcare Corporation (THC) reported GAAP revenue of $21.31B (+3.1% vs. FY2024 revenue of $20.68B , and +3.6% cumulative change since FY2023) , GAAP net income of $2.37B, operating cash flow of $3.54B, and free cash flow of $2.53B (+126.7% YoY). On the balance sheet, THC closed FY2025 with $29.68B in total assets against $9.32B in total debt (Altman Z-Score: 2.08, Piotroski F-Score: 6/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $21.31B $2.37B $3.54B $2.53B $29.68B $9.32B
FY2024 (FY) 2024-12-31 $20.68B $4.06B $2.05B $1.12B $28.94B $9.18B
FY2023 (FY) 2023-12-31 $20.56B $1.31B $2.37B $1.45B $24.68B $5.77B

3. THC Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is THC stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Tenet Healthcare Corporation (NYSE: THC) is rated B (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 74/100 at a spot price of $268.89 (-1.60% 1D, market cap $21.75B). Pillar breakdown: Fundamental Cash Engine 17/20, Institutional 13F & Options Flow 18/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 12/20, and Executive Insider Alignment 17/20. Across 1015 tracked Health Care issuers, THC ranks #35 in composite RQD confidence.

How does THC compare to EHC and ENSG in the Health Care sector?

Within the Health Care sector (Hospital/Nursing Management), THC carries a Roarable B (74/100 RQD), trailing P/E of 9.2x, gross margin of —, and ROIC of 27.6%. By comparison, EHC (Encompass Health Corporation) holds a B+ grade (77/100 RQD, P/E 22.9x, ROIC 13.8%, cap $13.41B) and ENSG (The Ensign Group Inc.) posts a C+ grade (68/100 RQD, P/E 31.6x, ROIC 18.0%, cap $10.59B). Among the 5-stock peer group, UHS leads on earnings multiple (7.0x) while THC leads on capital efficiency (27.6% ROIC).

What are the biggest fundamental strengths and SEC risk factors for THC?

Per THC's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000070318), Tenet Healthcare Corporation generated $21.31B in revenue (+3.1% YoY), $2.37B in net income, and $2.53B in free cash flow against $29.68B in total assets and $9.32B in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins. Institutional options positioning shows a 50% call / 50% put premium split.

Where is THC trading relative to its 50-day, 200-day, and 52-week technical levels?

THC last traded at $268.89 (-1.60% on volume of 1,297,062 shares), positioning the stock +1.65% above its 50-day simple moving average ($264.53) and +21.49% above its 200-day simple moving average ($221.32). Across its 52-week range of $157.58 to $283.05, THC sits at the 88.7% percentile with a 14-day RSI of 57.6 (BULLISH MOMENTUM) and an implied next-earnings move of ±6.0% ($252.76 to $285.02).

Direct Sub-Reports: THC RQD Cockpit THC 12M Forecast THC Earnings & Move THC Dividends & DRIP THC Insiders & 13F THC Whale Options THC Profit Sankey THC News & Why
ROARABLE RATING BRIEF • RQD 74/100 (B) ✓ SEC XBRL & RQD VERIFIED

THC — Tenet Healthcare Corporation: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Tenet Healthcare Corporation (THC) earns a live Roarable RQD composite score of 74/100, corresponding to a B letter grade (Roarable Buy) at a spot price of $268.89 (-1.60% 1D, market capitalization $21.75B).

  • Fundamental Cash Engine (17/20): Anchored by return on invested capital (ROIC) of 27.6%, gross margin of —, operating margin of 16.5%, and free cash flow yield of 11.61%.
  • Whale 13F & Options Flow (18/20) + Insider Conviction (17/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (12/20) + Forensic Balance Sheet (10/20): Incorporates a 0.97x equity beta, Altman Z-Score of 2.08, Piotroski F-Score of 6/9, and Debt/Equity of 2.06x.

2. Business Model, Unit Margins & SEC Financial Trajectory

Tenet Healthcare Corporation is a NYSE-listed issuer in the Health Care sector, within the Hospital/Nursing Management industry..8B.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Tenet Healthcare Corporation (THC) reported $21.31B in annual revenue (up from $20.68B in FY2024, +3.1% YoY) and $2.37B in GAAP net income. Over the multi-year SEC filing window from FY2023 ($20.56B revenue, $1.31B net income) through FY2025, THC scaled operating cash flow to $3.54B and free cash flow to $2.53B, backed by $29.68B in total assets against $9.32B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (B • RQD 74/100): Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Big institutional funds and options desks are actively positioning on the bullish side. With Fundamental Cash Engine at 17/20 and Institutional Whale Flow at 18/20, sustained execution supports upside toward the upper end of the $157.58 – $283.05 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Recent SEC filings added new risk-factor disclosures that warrant keeping an eye on margins. Investors must weigh 9.2x trailing P/E and 6.3x EV/EBITDA against 16.5% operating margins and a 0.97x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Upstream and downstream dependencies, sector correlations, and second-order bottlenecks are therefore — The only sector-level context available is the classification of Health Care / Hospital/Nursing Management, which an investor may wish to research independently.

  • Key Question #1: Can THC sustain or expand its 16.5% operating margin and 27.6% ROIC against Hospital/Nursing Management peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $21.31B and free cash flow of $2.53B, how will capital allocation balance growth reinvestment against $9.32B in total debt?
  • Key Question #3: How sensitive is THC's 8.6x forward P/E multiple to Health Care capital spending cycles and macro interest-rate shifts (Beta 0.97x)?

THC Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Tenet Healthcare Corporation (THC) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to THC Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

THC Bull vs. Bear Conversation Board — What's Your Call at $268.89?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON THC 🐻 33% BEARISH CONVICTION
1. Pick Your Side on THC:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
DE DeltaGamma_99 RQD DEBATE OPENER • Options Flow Specialist 🐂 BULLISH 🎯 Target: $316.97 (+16.0%)
📌 Pinned Debate

Per the RQD rating, a ROIC of 27.6% and FCF yield of 11.61% sit against a P/E (TTM) of 9.2, combining high capital efficiency with a lo

Picked up a starter position in THC in my $100K Virtual Cash book at $273.25. Per the RQD rating, a ROIC of 27.6% and FCF yield of 11.61% sit against a P/E (TTM) of 9.2, combining high capital efficiency with a low earnings multiple.. Trading inside a $157.58–$283.05 52-week range with 11.61% FCF yield gives solid downside support if Hospital/Nursing Management multiples expand this quarter.

CapAlloc_Nerd 🐂 BULL

@SkepticalCFA Fair point on 9.2x trailing P/E, but you're ignoring the forward operating leverage in Hospital/Nursing Management. If gross margin (0.0%) holds, EPS grows into the multiple faster than bears think.

SK SkepticalCFA RQD DEBATE OPENER • Fundamental Contrarian 🐻 BEARISH 🎯 Target: $210.40 (-23.0%)
Spot @ $273.25

Per the RQD rating, a Debt/Equity of 2.06 and forensic balance sheet score of 10/20 make leverage the weakest pillar against an otherwi

Per the RQD rating, a Debt/Equity of 2.06 and forensic balance sheet score of 10/20 make leverage the weakest pillar against an otherwise strong cash profile.. Look at the math on THC: paying 9.2x trailing P/E for 27.6% ROIC and 16.5% operating margins leaves zero margin of safety if Hospital/Nursing Management demand softens. I'd wait for a retest of $240.46 before getting long.

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