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THC

TENET HEALTHCARE CORP
CIK 0000070318 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
57.5
composite ยท 3 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-07 ยท FY 2025-12-31 ยท TRIGGERED69.9

Pension underfunding

DB plan 68% funded โ€” -$269M deficit (6% of equity)
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-17) โ†—
Evidence โ€” inputs and thresholds
{
  "benefit_obligation": 847000000,
  "plan_assets": 578000000,
  "funded_ratio": 0.6824,
  "deficit": -269000000,
  "deficit_vs_equity": 0.0637,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/70318/000007031826000012/0000070318-26-000012-index.htm",
    "form": "10-K",
    "filed": "2026-02-17"
  }
}
P-05 ยท FY 2025-12-31 ยท CLEAN8.1

Tax arbitrage

ETR 15.5% โ€” within normal range of statutory
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-17) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 0.1546,
    "2024-12-31": 0.2256,
    "2023-12-31": 0.1892
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": 0.0554,
    "2024-12-31": -0.0156,
    "2023-12-31": 0.0208
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/70318/000007031826000012/0000070318-26-000012-index.htm",
    "form": "10-K",
    "filed": "2026-02-17"
  }
}
P-13 ยท FY 2023-12-31 ยท CLEAN0.0

Zombie / distress

[FY2023 data, stale โ€” no more recent EBIT figure in XBRL] Interest coverage 2.79x โ€” servicing debt from operations
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2025-02-18) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": 2.786,
    "2022-12-31": 2.621
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 1.205,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 2510000000,
    "interest_expense_t": 901000000
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/70318/000007031825000009/0000070318-25-000009-index.htm",
    "form": "10-K",
    "filed": "2025-02-18"
  }
}