Encompass Health vs Tenet Health
Tenet Health reported revenue of $21.3 billion in fiscal 2025, 3.6 times Encompass Health's $5.9 billion in fiscal 2025. Encompass Health's revenue grew 10.5% in its latest year, and Tenet Health's grew 3.1%. Free cash flow was $439 million at Encompass Health and $2.5 billion at Tenet Health.
Side by side
| Encompass Health | Tenet Health | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $5.9B | $21.3B |
| Revenue growth | 10.5% | 3.1% |
| Revenue growth a year, last 5 years | 10.7% | 3.9% |
| Gross margin | — | — |
| Operating margin | — | 16.5% |
| Net margin | 9.5% | 6.6% |
| Free cash flow | $439M | $2.5B |
| Free cash flow margin | 7.4% | 11.9% |
| Return on capital | 15.8% | 18.3% |
| Net debt to EBITDA | 1.7x | 2.4x |
| Dividends and buybacks | $229M | $1.4B |
| Change in diluted share count | 0.0% | −7.2% |
| Last close | $124.10 | $268.95 |
| P/E at the last close | 20.2× | 10.4× |
| Insider trades, last 12 months | sold $47.8 million | sold $71.7 million |
| Piotroski F-score | 8 of 8 | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Encompass HealthTenet Health
Operating margin
Percent of revenue
Encompass HealthTenet Health
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Encompass HealthTenet Health
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Encompass Health and Tenet Health pages.