Encompass Health vs Tenet Healthcare
Tenet Healthcare is the larger business, with $21.31bn of revenue in fiscal 2025 against $5.94bn for Encompass Health (3.6 times as much). Encompass Health grew faster (10.5% against 3.1%). Encompass Health kept more of each dollar of sales as profit: a net margin of 9.5% against 6.6%. Encompass Health carries less debt relative to equity (102.2% against 314.3%).
| Latest fiscal year | Encompass HealthEHC, 2025 | Tenet HealthcareTHC, 2025 |
|---|---|---|
| Revenue | $5.94bn | $21.31bn |
| Revenue growth | 10.5% | 3.1% |
| Net income | $566m | $1.41bn |
| Operating margin | — | 16.5% |
| Net margin | 9.5% | 6.6% |
| Return on equity | 25.1% | 33.5% |
| Free cash flow | $439m | $2.53bn |
| Cash | $72.2m | $2.88bn |
| Total debt | $2.49bn | $13.27bn |
| Debt to equity | 102.2% | 314.3% |
| Dividend per share | $0.72 | — |
| Dividend yield | 0.6% | — |
| Share buybacks | $158m | $1.39bn |
| Employees | — | 100,000 |
| Market value | $13.56bn | $21.61bn |
| Price vs our value range | Above our value range | — |
| Moat score | 63 (Moderate) | 56 (Moderate) |
| Insider trades, 12 months | 0 buys, 18 sales | 0 buys, 42 sales |