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Tenet Healthcare Corporation DCF Stock Analysis

Here’s my assumptions:

Risk Free Rate (10 Years Interest Rate Swap): 3.82%

Risk Premium (Taken from the Aswath Damodaran equity premium spreadsheet): 4.33%

Interest Rate Spread on The Risk free rate ( For the cost of debt calculation): 5%

Historical Data

Revenue growth in the last 10 years (CAGR): 1.04%

Earnings growth in the last 10 years (CAGR): / (from -$140M to +$1.484B)

Unlevered Free Cash Flow growth in the last 10 years (CAGR): 17.02%

Future Assumptions

End of Year FCF growth: 5%

Growth until end of 2026: 10%

Growth until end of 2034: 5%

Perpetual growth: 3%

Net Debt: 10.55B

Outstanding Stock Options Present Value Assumption: $0.03B

Restricted Stock Units + Performance Stock Units Present Value Assumption: $0.281B

Stock Valuation based on these assumptions: $356

Last update 09/07/2025

All the content in this newsletter should be taken as informational content only. THIS IS NOT FINANCIAL ADVICE! Do your own Due Diligence before investing or contact a professional financial advisor.

I don’t have a position in Tenet Healthcare Corporation (THC) and I don’t plan to add a position in the coming days.