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Owns and operates acute care hospitals and outpatient facilities across several urban and suburban US markets.
Owns and operates acute care hospitals and outpatient facilities across several urban and suburban US markets.
Is paid by health insurers, Medicare and Medicaid for each patient treated, with commercially insured patients paying best, so insurance mix and admission volume drive results. Equity Group Investments, the Zell family's investment firm, remains its controlling shareholder after the 2024 listing.
Moat: none (scale, regulatory licence). Local market share and certificate-of-need licensing help, but hospital care is capital- and labor-intensive with thin differentiation.
Headquarters: Nashville, Tennessee, United States · Founded: 2001 · Employees: 25,200
Size Ardent Health (ARDT) is a United States Health Care company (Hospital/Nursing Management) with a market value of $2.44B, the 1671st largest of 3,117 United States companies the cockpit tracks. Shares closed at $17.30 on 6 Nov 2026.
Performance Over six months the shares gained 71.1%, against +1.1% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 3.3% over the last twelve months (peer median +6.9%); the operating margin is 4.0% (peer median 10.3%).
Valuation It trades at 14.5× forward earnings against a peer median of 36.5× (2nd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.1 points below its cost of capital (6.6% WACC).
Short interest Short interest is 2.7% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.41B | $6.32B | $5.97B | $5.41B | $5.13B |
| Revenue growth | — | +6% | +10% | +5% | — |
| Gross profit | $951M | $973M | $902M | $668M | $665M |
| EBITDA | $422M | $481M | $552M | $357M | $338M |
| Net income | $78.2M | $136M | $210M | $53.9M | $189M |
| Free cash flow | $302M | $256M | $128M | $84.3M | -$189M |
| Capital expenditure | $210M | $212M | $188M | $137M | $151M |
| Total debt | $2.27B | $2.32B | $2.28B | $2.40B | $2.39B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ardent Health ARDT | $2.44B | +71% | +3% | 4% | 14.5× | 4.0% |
| HCA Healthcare HCA | $103B | +14% | +6% | 15% | 16.2× | 3.3% |
| Community Health Systems CYH | $312M | -21% | -8% | 7% | n/a | n/a |
| Tenet Healthcare THC | $22.5B | +49% | +6% | 17% | 14.0× | -1.2% |
| Universal Health Services UHS | $11.5B | +15% | +8% | 11% | 8.7× | -1.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ARDT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +56.3% | +2.4% | 2nd highest of 21 |
| 6-month return | +71.1% | +1.1% | highest of 21 |
| Distance from 52-week high | -2.1% | -16.7% | 3rd highest of 21 |
| Revenue growth (TTM) | +3.3% | +6.9% | 7th lowest of 21 |
| Operating margin | 4.0% | 10.3% | 6th lowest of 20 |
| Forward P/E | 14.5× | 36.5× | 2nd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 4.0% | 13.6% | 3rd least demanding of 17 |
| Growth delivered (Del g) | +8.7% | +9.9% | 8th lowest of 17 |
| Hurdle (Req g minus delivered) | -4.8 pp | +4.4 pp | 4th least demanding of 17 |
| ROIC minus cost of capital | -1.1 pp | -2.3 pp | 9th highest of 20 |
| EV / EBITDA | 10.4× | 14.3× | 5th cheapest of 14 |
| Net debt / EBITDA | 3.6× | 3.7× | 8th least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ardent Health ARDT | United States | $2.44B | +71% | +3% | 4% | 14.5× | 4.0% | +8.7% |
| Topchoice Medical 600763.SS | China | $2.51B | -11% | +7% | 26% | 26.7× | 13.6% | +6.9% |
| Brookdale Senior Living BKD | United States | $2.15B | -31% | -4% | 5% | 127.7× | 22.4% | -1.4% |
| Surgery Partners SGRY | United States | $2.99B | +61% | +4% | 14% | 62.5× | 13.8% | +12.2% |
| Huaxia Eye Hospital 301267.SZ | China | $1.92B | -16% | +2% | 15% | 24.7× | 3.8% | +10.4% |
| Extendicare EXE.TO | Canada | $1.87B | -9% | +31% | 9% | 19.4× | 11.2% | +8.5% |
| Krishna Institute of Medical Sciences KIMS.NS | India | $3.21B | +2% | +31% | 12% | 70.0× | n/a | n/a |
| National HealthCare NHC | United States | $3.27B | +11% | +7% | -8% | n/a | 7.9% | +9.7% |
| Sienna Senior Living SIA.TO | Canada | $1.63B | -11% | +16% | 10% | 38.1× | 19.6% | +8.6% |
| Xi'an International Medical Investment 000516.SZ | China | $1.54B | 0% | -1% | -2% | n/a | 13.6% | +20.6% |
| Global Health MEDANTA.NS | India | $3.95B | +15% | +26% | 17% | 51.1× | n/a | n/a |
| Aevis Victoria AEVS.SW | Switzerland | $1.49B | +9% | +15% | -6% | 107.9× | 26.6% | +10.2% |
| Sanbo Hospital Management 301293.SZ | China | $1.48B | -21% | +17% | 6% | 148.9× | n/a | n/a |
| Narayana Hrudayalaya NH.NS | India | $4.11B | +3% | +71% | 13% | 36.5× | 31.1% | +25.0% |
| Spire Healthcare SPI.L | United Kingdom | $1.34B | +68% | +2% | 8% | 19.5× | 9.8% | +11.4% |
| Rainbow Childrens Medicare RAINBOW.NS | India | $1.34B | -4% | +23% | 22% | 39.4× | 30.2% | +21.2% |
| Raffles Medical BSL.SI | Singapore | $1.25B | -15% | -3% | 11% | 27.3× | -2.4% | +6.1% |
| CVS CVSG.L | United Kingdom | $1.23B | +20% | +6% | 11% | 14.3× | 13.7% | +6.9% |
| Park Medi World PARKHOSPS.NS | India | $1.15B | +2% | +21% | n/a | 28.3× | 30.5% | +10.2% |
| Ramsay Generale de Sante GDS.PA | France | $1.09B | -15% | +3% | 4% | n/a | 6.3% | +6.0% |
| Rhon-klinikum RHK.DE | Germany | $1.08B | +14% | +5% | 3% | 22.5× | n/a | n/a |