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Ardent Health, Inc.

ARDT NYSE Services-General Medical & Surgical Hospitals, Nec Financials FY2022–FY2025

Revenue Total sales reported in the income statement.
$6.3B
6.0% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$136M
35.4%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On $0.55 EPS (TTM)

What Ardent Health, Inc. does

No business description yet.

Legal name
Ardent Health, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Mar 16, 2026
Accession · CIK
0001628280-26-018174
0001756655

Revenue and margins

Ardent Health, Inc. had $6.3B of revenue in fiscal 2025, up 6.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2022 to 2025, diluted EPS grew −13.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Ardent Health, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 6.6%.

Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Ardent Health, Inc. can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25
Cash and short-term investments $456M$438M$557M$710M
Debt incl. finance leases —$1.2B$1.1B$1.1B
Debt / equity —1.8x1.0x0.9x
Current ratio —1.6x1.9x2.0x
Quick ratio —1.5x1.8x1.9x
Total assets —$4.7B$5.0B$5.3B
Total liabilities —$3.6B$3.4B$3.6B
Shareholders' equity $1.0B$671M$1.1B$1.3B
Net debt (− = net cash) —$771M$578M$431M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY22FY23FY24FY25
Net income is positive ✓ ✓ ✓ ✓
Cash from operations is positive ✕ ✓ ✓ ✓
Return on assets rose — — ✓ ✕
Cash from operations exceeds net income ✕ ✓ ✓ ✓
Debt fell relative to assets — — ✓ ✓
Current ratio rose — — ✓ ✓
Share count didn't rise — ✓ ✕ ✕
Gross margin rose — — — —
Revenue rose relative to assets — — ✓ ✕
F-score — / 3— / 47 / 85 / 8
Accruals ratio —−3.5%−2.2%−6.5%
Altman Z'' ————

4 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY22FY23FY24FY25
Income statement
Revenue $5.1B $5.4B $6.0B $6.3B
Pretax income $311M $152M $363M $286M
Income tax $46.1M $22.6M $63.4M $56.2M
Net income $189M $53.9M $210M $136M
Net income to common $189M $53.9M $210M $136M
Diluted EPS $1.50 $0.43 $1.58 $0.96
Diluted shares 0.13B 0.13B 0.13B 0.14B
Cash flow
Cash from operations −$38.4M $222M $315M $471M
Depreciation and amortization $138M $141M $146M $156M
Acquisitions $0.0M $0.0M $35.5M $2.5M
Dividends paid $175M $0.0M $0.0M —
Dividends and buybacks $175M $0.0M $0.0M —
Balance sheet
Cash and short-term investments $456M $438M $557M $710M
Total debt — $1.2B $1.1B $1.1B
Finance lease liabilities — $21.7M $20.9M $24.5M
Current assets — $1.6B $1.8B $2.1B
Current liabilities — $994M $945M $1.0B
Inventory — $105M $115M $119M
Property and equipment, net — $811M $862M —
Goodwill $845M $845M $852M $879M
Intangible assets — — — $12.4M
Total assets — $4.7B $5.0B $5.3B
Total liabilities — $3.6B $3.4B $3.6B
Preferred stock — $0.0M $0.0M $0.0M
Shareholders' equity $1.0B $671M $1.1B $1.3B
Margins
Net margin 3.7% 1.0% 3.5% 2.1%
Returns
Return on equity 18.2% 6.3% 23.3% 11.2%
Return on assets — 1.1% 4.3% 2.7%
Return on tangible equity 97.0% — 75.3% 34.3%
Growth
Revenue growth — 5.5% 10.3% 6.0%
Net income growth — −71.5% 290.2% −35.4%
EPS growth — −71.3% 267.4% −39.2%
Share count change — 0.0% 5.3% 6.6%
Financial health
Debt / equity — 1.8x 1.0x 0.9x
Current ratio — 1.6x 1.9x 2.0x
Quick ratio — 1.5x 1.8x 1.9x
Quality scores
Piotroski F-score — — 7.0 5.0
Accruals ratio — −3.5% −2.2% −6.5%

Source: SEC EDGAR XBRL filings (CIK 0001756655). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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