THC vs. BTDR

Last updated Apr 1, 2026

Compare and contrast key facts about Tenet Healthcare Corporation (THC) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR).

Performance

THC vs. BTDR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tenet Healthcare Corporation (THC) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). The values are adjusted to include any dividend payments, if applicable.

THC vs. BTDR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
THC Tenet Healthcare Corporation	-5.04%	57.43%	67.04%	17.93%
BTDR Bitdeer Technologies Group Class A Ordinary Shares	-22.84%	-48.27%	119.78%	-1.40%

Fundamentals

Market Cap THC : $16.59B BTDR : $2.32B
EPS THC : $15.73 BTDR : $0.29
PE Ratio THC : 12.00 BTDR : 29.48
PS Ratio THC : 0.79 BTDR : 3.12
PB Ratio THC : 3.93 BTDR : 2.67
Total Revenue (TTM) THC : $21.31B BTDR : $620.25M
Gross Profit (TTM) THC : $11.91B BTDR : $60.99M
EBITDA (TTM) THC : $4.47B BTDR : -$223.07M

Returns By Period

In the year-to-date period, THC achieves a -5.04% return, which is significantly higher than BTDR's -22.84% return.

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%

BTDR

• 1D: 9.77%
• 1M: 12.34%
• YTD: -22.84%
• 6M: -49.39%
• 1Y: -2.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

THC vs. BTDR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

THC

THC Risk / Return Rank: 74
THC Sharpe Ratio Rank: 74
THC Sortino Ratio Rank: 70
THC Omega Ratio Rank: 70
THC Calmar Ratio Rank: 76
THC Martin Ratio Rank: 79

BTDR

BTDR Risk / Return Rank: 43
BTDR Sharpe Ratio Rank: 41
BTDR Sortino Ratio Rank: 49
BTDR Omega Ratio Rank: 47
BTDR Calmar Ratio Rank: 40
BTDR Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

THC vs. BTDR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tenet Healthcare Corporation (THC) and Bitdeer Technologies Group Class A Ordinary Shares (BTDR). 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.

	THC	BTDR	Difference
Sharpe ratio Return per unit of total volatility	0.94	-0.02	+0.96
Sortino ratio Return per unit of downside risk	1.56	0.75	+0.82
Omega ratio Gain probability vs. loss probability	1.21	1.09	+0.13
Calmar ratio Return relative to maximum drawdown	1.80	-0.07	+1.87
Martin ratio Return relative to average drawdown	5.43	-0.14	+5.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THC vs. BTDR - Sharpe Ratio Comparison

The current THC Sharpe Ratio is 0.94, which is higher than the BTDR Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of THC and BTDR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	THC	BTDR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	-0.02	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	-0.04	+0.16

Correlation

The correlation between THC and BTDR is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

THC vs. BTDR - Dividend Comparison

Neither THC nor BTDR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

THC vs. BTDR - Drawdown Comparison

The maximum THC drawdown since its inception was -98.28%, which is greater than BTDR's maximum drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for THC and BTDR.

Drawdown Indicators

	THC	BTDR	Difference
Max Drawdown Largest peak-to-trough decline	-98.28%	-79.52%	-18.76%
Max Drawdown (1Y) Largest decline over 1 year	-23.20%	-71.89%	+48.69%
Max Drawdown (5Y) Largest decline over 5 years	-58.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-71.68%	—	—
Current Drawdown Current decline from peak	-22.91%	-66.86%	+43.95%
Average Drawdown Average peak-to-trough decline	-51.67%	-43.41%	-8.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.69%	37.83%	-30.14%

Volatility

THC vs. BTDR - Volatility Comparison

The current volatility for Tenet Healthcare Corporation (THC) is 9.59%, while Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a volatility of 26.27%. This indicates that THC experiences smaller price fluctuations and is considered to be less risky than BTDR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THC	BTDR	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.59%	26.27%	-16.68%
Volatility (6M) Calculated over the trailing 6-month period	28.64%	78.31%	-49.67%
Volatility (1Y) Calculated over the trailing 1-year period	43.18%	103.71%	-60.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.21%	124.03%	-79.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.33%	124.03%	-67.70%

Financials

THC vs. BTDR - Profitability Comparison

The chart below illustrates the profitability comparison between Tenet Healthcare Corporation and Bitdeer Technologies Group Class A Ordinary Shares over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

BTDR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a gross profit of 10.57M and revenue of 224.84M. Therefore, the gross margin over that period was 4.7%.

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%.

BTDR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Bitdeer Technologies Group Class A Ordinary Shares reported an operating income of 109.35M and revenue of 224.84M, resulting in an operating margin of 48.6%.

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%.

BTDR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Bitdeer Technologies Group Class A Ordinary Shares reported a net income of 70.54M and revenue of 224.84M, resulting in a net margin of 31.4%.