Ardent Health, Inc. ARDT R2K

Healthcare · Medical Care Facilities · United States

https://www.ardenthealth.com

Ardent Health, Inc. owns and operates a network of hospitals and clinics that provides healthcare services in the United States. The company offers general and specialty services, including internal medicine, general surgery, cardiology, oncology, orthopedics, women's services, neurology, urology, and emergency services within inpatient and ambulatory care settings. It also operates a network of ambulatory facilities and telehealth services, including primary care and specialty care clinics, ambulatory surgery centers, urgent care centers, free-standing emergency departments, and diagnostic imaging centers. The company operates acute care hospitals, including rehabilitation hospitals and surgical hospitals. Ardent Health, Inc. was formerly known as Ardent Health Partners, Inc. and changed its name to Ardent Health, Inc. in June 2025. The company was founded in 2001 and is based in Brentwood, Tennessee. Ardent Health, Inc. is a subsidiary of EGI-AM Investments, L.L.C.

Market & Price

Market Cap

$1.32B

Current Price

$9.23

High / Low (52W)

$15.21 / $8.17

Beta

Valuation

Stock P/E

9.72

Industry PE

23.65

Forward P/E

6.99

PEG Ratio

Book Value

$9.34

Price to Book

0.99

P/S

0.21

EV/EBITDA

6.77

Dividend Yield

Profitability & Returns

ROCE

8.05%

ROE

13.94%

ROA

4.17%

Profit Margin

2.09%

Op Margin

5.05%

EPS (Latest Qtr)

$0.28

EPS (TTM)

$0.95

Balance Sheet & Liquidity

Debt/Equity

1.32

Quick Ratio

1.40

Current Ratio

2.12

Debt

$2.29B

Total Assets

$5.29B

Current Assets

$2.06B

Working Capital

$1.01B

Ownership

Promoter Holding

23.38%

Chg in Prom Hold

-0.04%

FII / Inst Holding

74.86%

Chg in FII Hold

0.00%

Financial Snapshot

Enterprise Value

$3.40B

Total Revenue (TTM)

$6.43B

EBITDA

$501.89M

Free Cash Flow

$116.48M

Operating Cash Flow

$435.08M

Shares Outstanding

143.35M

Gross Margin

58.60%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

7.23%

Profit 5Y

-10.42%

Revenue (YoY)

7.00%

Earnings (YoY)

-3.40%

PROS

Generates positive free cash flow.

CONS

Earnings shrank at -10.4% CAGR over 5 years.
Trading 39.3% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ARDT Ardent Health, Inc. R2K	9.23	9.72	$1.32B	-	8.05%	13.94%	7.23%	-10.42%
2	LLY Eli Lilly and Company SPX	1,105.00	39.21	$985.37B	0.63%	38.44%	107.46%	31.69%	48.96%
3	JNJ Johnson & Johnson SPX	225.33	26.11	$542.42B	2.38%	23.13%	26.42%	5.60%	14.32%
4	UNH UnitedHealth Group Incorporated SPX	380.31	28.66	$345.38B	2.32%	9.60%	12.18%	11.35%	-15.69%
5	MRK Merck & Co., Inc. SPX	118.72	33.44	$293.22B	2.86%	20.66%	18.94%	3.12%	7.93%
6	TMO Thermo Fisher Scientific Inc. SPX	492.51	27.11	$183.03B	0.38%	9.17%	13.52%	-0.27%	-1.19%
7	AMGN Amgen Inc. NDXSPX	336.79	23.42	$181.77B	2.99%	18.02%	101.32%	11.77%	5.58%
8	GILD Gilead Sciences, Inc. NDXSPX	134.43	18.29	$166.90B	2.44%	22.92%	43.36%	2.57%	22.83%
9	ISRG Intuitive Surgical, Inc. NDXSPXAI	424.64	51.53	$150.39B	-	15.96%	17.23%	17.39%	29.26%

Quarterly Results

Figures in USD.

Metric	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	1.37B	1.38B	1.44B	1.47B	-	-	1.50B	1.65B	1.58B	1.61B	1.60B
Cost of Revenue	-	-	-	-	-	-	-	916.51M	942.34M	952.84M	928.92M	929.98M
Gross Profit	-	-	-	-	-	-	-	580.73M	702.94M	623.90M	676.16M	671.89M
Operating Expenses	-	-	-	-	-	-	-	513.64M	565.66M	607.45M	571.40M	590.97M
Operating Income	-	-	-	-	-	-	-	67.09M	137.28M	16.46M	104.75M	80.91M
EBITDA	-	-	-	-	-	-	-	124.58M	176.03M	50.87M	145.79M	129.79M
Interest Expense	-	-	-	-	-	-	-	14.18M	14.73M	13.91M	12.38M	12.21M
Pretax Income	-	-	-	-	-	-	-	74.20M	121.99M	-2.20M	92.37M	74.59M
Tax Provision	-	-	-	-	-	-	-	15.23M	26.29M	-3.41M	18.11M	16.10M
Net Income	4.14M	33.08M	20.84M	27.05M	42.77M	-	-	41.38M	72.95M	-23.48M	44.96M	39.85M
Diluted EPS	-	0.26	0.17	0.21	0.34	0.19	-	0.29	0.52	-0.17	-	0.28

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	5.13B	5.41B	5.97B	6.32B
Cost of Revenue	-	3.37B	3.38B	3.57B	3.74B
Gross Profit	-	1.76B	2.03B	2.40B	2.58B
Operating Expenses	-	1.55B	1.81B	1.99B	2.26B
Operating Income	-	217.03M	224.31M	405.76M	325.58M
EBITDA	-	531.70M	366.76M	574.93M	497.26M
Interest Expense	-	82.05M	74.31M	65.58M	55.20M
Pretax Income	-	311.48M	151.61M	363.06M	286.36M
Tax Provision	-	46.11M	22.64M	63.35M	56.22M
Net Income	-	188.91M	53.90M	210.34M	135.81M
Diluted EPS	1.09	1.34	0.38	1.58	-

Compounded Sales Growth

5 Years:	7.23%
1 Year:	7.00%

Compounded Profit Growth

5 Years:	-10.42%
1 Year:	-3.40%

Stock Price Performance

1 Year:	-36.26%
6 Months:	+1.10%
3 Months:	-1.70%
1 Month:	-4.15%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	4.48B	4.73B	4.96B	5.29B
Current Assets	-	1.41B	1.62B	1.83B	2.06B
Cash & Equivalents	-	456.12M	437.58M	556.78M	709.60M
Inventory	-	107.15M	105.48M	115.09M	118.59M
Receivables	-	603.36M	775.45M	743.03M	686.10M
Total Liabilities	-	3.43B	3.65B	3.43B	3.61B
Current Liabilities	-	808.60M	994.10M	945.42M	1.05B
Long Term Debt	-	1.16B	1.17B	1.09B	1.08B
Total Debt	-	2.39B	2.40B	2.28B	2.32B
Total Equity	978.35M	0	0	0	0
Shares Outstanding	-	140.96M	140.96M	142.75M	142.86M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-	-38.36M	221.70M	315.03M	470.51M
Investing Cash Flow	-	46.58M	-137.98M	-220.46M	-214.23M
Financing Cash Flow	-	-270.33M	-102.26M	24.64M	-103.47M
Capital Expenditure	-	-151.11M	-137.41M	-187.51M	-211.90M
Free Cash Flow	-	-189.47M	84.29M	127.52M	258.61M
Net Change in Cash	-	-262.11M	-18.55M	119.21M	152.82M
Dividends Paid	-	174.81M	0	0	-

Ratios (Annual)

Figures in %.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	34.4%	37.6%	40.2%	40.9%
Operating Margin %	-	4.2%	4.1%	6.8%	5.1%
Net Margin %	-	3.7%	1.0%	3.5%	2.1%
ROE %	-	-	-	-	-
ROCE %	-	5.9%	6.0%	10.1%	7.7%

Shareholding Pattern

Insiders

23.38%

Institutions

74.86%

Public Float

97.70%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Chai Trust Co LLC	53.89%	77.25M	$712.99M
2	Ventas Inc	6.52%	9.34M	$86.23M
3	Goldentree Asset Management LP	1.61%	2.30M	$21.26M
4	Ameriprise Financial, Inc.	1.24%	1.78M	$16.40M
5	Blackrock Inc.	1.23%	1.76M	$16.23M
6	Castleknight Management LP	0.75%	1.08M	$9.94M
7	Vanguard Capital Management LLC	0.70%	1.01M	$9.31M
8	AQR Capital Management, LLC	0.66%	942.35K	$8.70M
9	Bridgeway Capital Management, LLC	0.65%	930.67K	$8.59M
10	ExodusPoint Capital Management, LP	0.46%	657.90K	$6.07M

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ARDT · Healthcare