HCA vs. THC
Compare and contrast key facts about HCA Healthcare, Inc. (HCA) and Tenet Healthcare Corporation (THC).
Performance
HCA vs. THC - Performance Comparison
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HCA vs. THC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HCA HCA Healthcare, Inc. | 1.52% | 56.71% | 11.75% | 13.83% | -5.64% | 57.58% | 12.07% | 20.24% | 43.37% | 18.67% |
THC Tenet Healthcare Corporation | -5.04% | 57.43% | 67.04% | 54.89% | -40.27% | 104.58% | 5.00% | 121.88% | 13.06% | 2.16% |
Fundamentals
HCA:
$109.18B
THC:
$16.59B
HCA:
$28.46
THC:
$15.73
HCA:
16.63
THC:
12.00
HCA:
1.98
THC:
0.12
HCA:
1.49
THC:
0.79
HCA:
$75.60B
THC:
$21.31B
HCA:
$31.37B
THC:
$11.91B
HCA:
$15.60B
THC:
$4.47B
Returns By Period
In the year-to-date period, HCA achieves a 1.52% return, which is significantly higher than THC's -5.04% return. Both investments have delivered pretty close results over the past 10 years, with HCA having a 20.49% annualized return and THC not far ahead at 20.64%.
HCA
- 1D
- 1.16%
- 1M
- -10.53%
- YTD
- 1.52%
- 6M
- 11.37%
- 1Y
- 37.87%
- 3Y*
- 22.48%
- 5Y*
- 21.54%
- 10Y*
- 20.49%
THC
- 1D
- 0.38%
- 1M
- -21.17%
- YTD
- -5.04%
- 6M
- -7.06%
- 1Y
- 40.30%
- 3Y*
- 46.99%
- 5Y*
- 29.81%
- 10Y*
- 20.64%
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Return for Risk
HCA vs. THC — Risk / Return Rank
HCA
THC
HCA vs. THC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HCA Healthcare, Inc. (HCA) and Tenet Healthcare Corporation (THC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| HCA | THC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.44 | 0.94 | +0.50 |
Sortino ratioReturn per unit of downside risk | 2.01 | 1.56 | +0.44 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.77 | 1.80 | +0.97 |
Martin ratioReturn relative to average drawdown | 7.89 | 5.43 | +2.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HCA | THC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 0.94 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.68 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.37 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.12 | +0.56 |
Correlation
The correlation between HCA and THC is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HCA vs. THC - Dividend Comparison
HCA's dividend yield for the trailing twelve months is around 0.62%, while THC has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HCA HCA Healthcare, Inc. | 0.62% | 0.62% | 0.88% | 0.89% | 0.93% | 0.75% | 0.63% | 1.08% | 1.12% |
THC Tenet Healthcare Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HCA vs. THC - Drawdown Comparison
The maximum HCA drawdown since its inception was -54.74%, smaller than the maximum THC drawdown of -98.28%. Use the drawdown chart below to compare losses from any high point for HCA and THC.
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Drawdown Indicators
| HCA | THC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.74% | -98.28% | +43.54% |
Max Drawdown (1Y)Largest decline over 1 year | -14.17% | -23.20% | +9.03% |
Max Drawdown (5Y)Largest decline over 5 years | -39.49% | -58.88% | +19.39% |
Max Drawdown (10Y)Largest decline over 10 years | -54.74% | -71.68% | +16.94% |
Current DrawdownCurrent decline from peak | -13.06% | -22.91% | +9.85% |
Average DrawdownAverage peak-to-trough decline | -10.91% | -51.67% | +40.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.97% | 7.69% | -2.72% |
Volatility
HCA vs. THC - Volatility Comparison
The current volatility for HCA Healthcare, Inc. (HCA) is 5.71%, while Tenet Healthcare Corporation (THC) has a volatility of 9.59%. This indicates that HCA experiences smaller price fluctuations and is considered to be less risky than THC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HCA | THC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 9.59% | -3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 19.15% | 28.64% | -9.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.41% | 43.18% | -16.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.39% | 44.21% | -14.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.37% | 56.33% | -23.96% |
Financials
HCA vs. THC - Financials Comparison
This section allows you to compare key financial metrics between HCA Healthcare, Inc. and Tenet Healthcare Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HCA vs. THC - Profitability Comparison
HCA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, HCA Healthcare, Inc. reported a gross profit of 8.18B and revenue of 19.51B. Therefore, the gross margin over that period was 41.9%.
THC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Tenet Healthcare Corporation reported a gross profit of 2.30B and revenue of 5.53B. Therefore, the gross margin over that period was 41.5%.
HCA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, HCA Healthcare, Inc. reported an operating income of 3.18B and revenue of 19.51B, resulting in an operating margin of 16.3%.
THC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Tenet Healthcare Corporation reported an operating income of 853.00M and revenue of 5.53B, resulting in an operating margin of 15.4%.
HCA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, HCA Healthcare, Inc. reported a net income of 1.88B and revenue of 19.51B, resulting in a net margin of 9.6%.
THC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Tenet Healthcare Corporation reported a net income of 371.00M and revenue of 5.53B, resulting in a net margin of 6.7%.