ARDT Ardent Health, Inc. Common Stock
NYSE · Health Care · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026
$10.34
· of 52w range
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· to high
$7.7152w low
$15.4852w high
Market Cap (MRQ)
$1.47B
P/E (TTM)
18.8
EPS (TTM)
$0.55
Revenue (TTM)
$6.41B
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52W Range
$8–$15
Analyst Rating
BUY
Price Target
$13
P/E
18.8
ROE
6.0%
Net Profit Margin
1.2%
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ARDT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$10.34
Market Cap (MRQ)
$1.47B
P/E (TTM)
18.8
EPS (TTM)
$0.55
Revenue (TTM)
$6.41B
ROE (TTM)
6.0%
Debt/Equity (MRQ)
0.8
52W Range
$8–$15
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About Ardent Health, Inc. Common Stock Company overview from Wikipedia
Ardent Health, Inc., formerly known as Behavioral Healthcare Corporation is a for-profit healthcare company based in Brentwood, Tennessee, United States.
## History
The Behavioral Healthcare Corporation was founded in 1993 by Edward Stack. Until 2001, it was a privately held company owned by Kindred Healthcare and Welsh Carson Anderson & Stowe and several individual investors and focused owning and operating behavioral health facilities. It currently owns and operates hospitals in Tulsa, Oklahoma, Albuquerque, New Mexico, Amarillo, Texas, Pocatello, Idaho, Topeka, Kansas, 2 in New Jersey and, as of March 1, 2018, UTHET in Tyler, Texas.
By 2001, the private equity firm Welsh, Carson, Anderson & Stowe became majority shareholders and changed the name of the company.
The company sold its behavioral health operations to Psychiatric Solutions, Inc. in 2005.
In 2015, Ventas acquired the company for $1.75b through a traditional sale-leaseback transaction where Ventas remained the owner of essentially all of Ardent's real property interests while a joint venture between Equity Group Investments, Ventas and several members of management acquired its hospital operations.
In February 2018, Ardent Health Services acquired the East Texas Medical Center (ETMC) hospital system, and created the Tyler Regional Hospital, LLC, purchased the name-rights of the University of Texas Health Sciences Brand, and created a Doing-Business-As name of "UT Health Tyler." Tyler Regional Hospital, LLC continues operating under the UT Health Brand but is not currently under the University of Texas umbrella of administration. Currently, the University of Texas system owns a 30% share in the hospital while Ardent Health owns a 70% share.
In February 2020, Ardent Health Services president and CEO David T. Vandewater announced his plans to retire from the company. He remained president and CEO until a successor was named.
In August 2020, Ardent Health Services appointed Martin J. Bonick as president and CEO. Today the company has 26,000 employees, 30 hospitals, and over 200 sites of care in six states.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorHealth Care
industryHealth Care
employees19,500
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$6.32B2022-12-31 → 2025-12-31
EPS$0.962022-12-31 → 2025-12-31
Net margin1.2%2024-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ARDT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 18.8 | · | 15.5 | Pricier | |
| P/S (TTM) | 0.2 | · | 1.1 | Undervalued | |
| P/B (MRQ) | 1.1 | · | 1.8 | Undervalued | |
| EV / EBITDA | 12.0 | · | 13.9 | Undervalued | |
| Price / Cash Flow | 3.1 | · | 8.3 | Undervalued | |
| EV / Revenue | 0.3 | · | · | · | |
| Price / Tangible Book | 3.7 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ARDT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EBITDA Margin | 2.5% | · | 11.9% | Weak | |
| Pretax Margin (TTM) | 3.2% | · | 4.0% | Weak | |
| Net Profit Margin (TTM) | 1.2% | · | 2.9% | Weak | |
| ROA (TTM) | 1.5% | · | 3.0% | In line | |
| ROE (TTM) | 6.0% | · | -17.6% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | ARDT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.8 | · | 0.3 | High debt | |
| Current Ratio (MRQ) | 2.1 | · | 1.6 | Strong liquidity | |
| Quick Ratio | 1.3 | · | 1.1 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | 0.8 | · | 0.3 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | ARDT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 6.0%5Y avg ≈7.2% | ≈7.2% | · | · | |
| Revenue CAGR 3Y | 7.2% | · | · | · | |
| EPS YoY | -39.2%5Y avg ≈52.3% | ≈52.3% | · | · | |
| Net Income YoY | -35.4%5Y avg ≈61.1% | ≈61.1% | · | · | |
| EPS CAGR 3Y | -13.8% | · | · | · | |
| Net Income CAGR 3Y | -10.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | ARDT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 1.2 | · | 0.7 | Top tier | |
| Receivables Turnover | 8.9 | · | 8.5 | In line | |
| Revenue / Employee | ≈$324.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
24.1%
Next Report
Nov 10, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $0.12 | $0.18 | -35.1% |
| March 31, 2026 | May 12, 2026 | $0.28 | $0.19 | 48.6% |
| Dec. 31, 2025 | $0.32 | $0.35 | -8.2% | |
| Sept. 30, 2025 | $0.52 | $0.42 | 24.8% | |
| June 30, 2025 | $0.52 | $0.30 | 71.2% | |
| March 31, 2025 | $0.29 | $0.20 | 43.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $6.32B | $5.97B | $5.41B | |
| SG&A Expense | $141M | $132M | $115M | |
| Operating Expenses | $6.04B | $5.60B | $5.26B | |
| Pretax Income | $286M | $363M | $152M | |
| Income Tax | $56M | $63M | $23M | |
| Net Income | $136M | $210M | $54M | |
| EPS (Basic) | $0.96 | $1.59 | $0.43 | |
| EPS (Diluted) | $0.96 | $1.58 | $0.43 | |
| Shares (Basic) | 140,760,736 | 132,439,695 | 126,115,301 | |
| Shares (Diluted) | 141,450,309 | 132,744,577 | 126,115,301 | |
| EBITDA | $156M | $146M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash & Equivalents | $710M | $557M | $438M | |
| Receivables | $686M | $743M | $775M | |
| Inventory | $119M | $115M | $105M | |
| Prepaid Expense | $113M | $114M | $77M | |
| Other Current Assets | $432M | $304M | $222M | |
| Current Assets | $2.06B | $1.83B | $1.62B | |
| PP&E (Net) | · | $862M | $811M | |
| PP&E (Gross) | · | $1.85B | $1.71B | |
| Accum. Depreciation | · | $989M | $903M | |
| Goodwill | $879M | $852M | $845M | |
| Intangibles | $12M | · | · | |
| Other Non-current Assets | $112M | $143M | $147M | |
| Total Assets | $5.29B | $4.96B | $4.73B | |
| Accounts Payable | $458M | $401M | $475M | |
| Current Liabilities | $1.05B | $945M | $994M | |
| Capital Leases | $1.17B | $1.14B | · | |
| Other Non-current Liabilities | $77M | $35M | $76M | |
| Total Liabilities | $3.61B | $3.43B | $3.65B | |
| Long-term Debt | $1.12B | $1.11B | $1.19B | |
| Total Debt | $1.10B | $1.10B | · | |
| Common Stock | $1M | $1M | $0 | |
| Paid-in Capital | $788M | $754M | $0 | |
| Retained Earnings | $502M | $366M | $155M | |
| AOCI | $-4M | $10M | $19M | |
| Stockholders' Equity | $1.29B | $1.13B | $671M | |
| Liabilities + Equity | $5.29B | $4.96B | $4.73B | |
| Shares Outstanding | 142,864,171 | 142,747,818 | 0 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| D&A | $156M | $146M | $141M | |
| Deferred Tax | $44M | $23M | $5M | |
| Amort. of Intangibles | $800.0K | · | · | |
| Other Non-cash | $135M | $-65M | · | |
| Operating Cash Flow | $471M | $315M | $222M | |
| Investing Cash Flow | $-214M | $-220M | $-138M | |
| Debt Issued | $0 | $4M | $7M | |
| Net Debt Issued | $-8M | $-105M | · | |
| Dividends Paid | · | $0 | $0 | |
| Financing Cash Flow | $-103M | $25M | $-102M | |
| Net Change in Cash | $153M | $119M | $-19M | |
| Taxes Paid | $37M | $42M | $19M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Net Margin | 2.1% | 3.5% | · | |
| Pretax Margin | 4.5% | 6.1% | · | |
| EBITDA Margin | 2.5% | 2.5% | · | |
| ROA | 2.6% | 4.3% | · | |
| ROE | 11.2% | 23.3% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Current Ratio | 2.0 | 1.9 | · | |
| Quick Ratio | 1.3 | 1.4 | · | |
| Debt / Equity | 0.9 | 1.0 | · | |
| LT Debt / Equity | 0.8 | 1.0 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Asset Turnover | 1.2 | 1.2 | · | |
| Receivables Turnover | 8.9 | 7.9 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Book Value / Share | $9.01 | $7.93 | · | |
| Revenue / Share | $44.71 | $44.94 | · | |
| Cash Flow / Share | $3.33 | $2.37 | · | |
| Cash / Share | $4.97 | $3.90 | · | |
| EPS (TTM) | $0.96 | $1.58 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue YoY | 6.0% | 10.3% | 5.5% | |
| Revenue CAGR 3Y | 7.2% | · | · | |
| EPS YoY | -39.2% | 267.4% | -71.3% | |
| EPS CAGR 3Y | -13.8% | · | · | |
| Net Income YoY | -35.4% | 290.2% | -71.5% | |
| Net Income CAGR 3Y | -10.4% | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue TTM | $6.32B | $5.97B | · | |
| Net Income TTM | $136M | $210M | · | |
| Market Cap | $1.26B | $2.44B | · | |
| Enterprise Value | $1.65B | $2.98B | · | |
| P/E | 9.2 | 10.8 | · | |
| P/S | 0.2 | 0.4 | · | |
| P/B | 1.0 | 2.2 | · | |
| P / Tangible Book | 3.2 | 8.7 | · | |
| P / Cash Flow | 2.7 | 7.7 | · | |
| EV / EBITDA | 10.6 | 20.3 | · | |
| EV / Revenue | 0.3 | 0.5 | · | |
| Dividend Yield | · | 0.00% | · | |
| Earnings Yield | 10.9% | 9.2% | · | |
| Payout Ratio | · | 0.00% | · | |
| Annual Payout | · | $0 | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.62B | $1.60B | $1.61B | $1.58B | $1.65B | $1.50B | $1.61B | $1.45B | $1.47B | $1.44B | $1.35B | $1.38B | $1.37B | |
| SG&A Expense | $61M | $49M | $37M | $36M | $33M | $35M | $37M | $34M | $29M | $33M | $32M | $29M | $27M | |
| Operating Expenses | $1.58B | $1.53B | $1.51B | $1.58B | $1.52B | $1.42B | $1.44B | $1.39B | $1.39B | $1.38B | $1.34B | $1.33B | $1.30B | |
| Pretax Income | $43M | $75M | $92M | $-2M | $122M | $74M | $167M | $57M | $82M | $57M | $9M | $46M | $68M | |
| Income Tax | $9M | $16M | $18M | $-3M | $26M | $15M | $26M | $11M | $15M | $11M | $-2M | $7M | $12M | |
| Net Income | $17M | $40M | $45M | $-23M | $73M | $41M | $114M | $26M | $43M | $27M | $-4M | $21M | $33M | |
| EPS (Basic) | $0.12 | $0.28 | $0.31 | $-0.17 | $0.52 | $0.30 | $0.85 | $0.19 | $0.34 | $0.21 | $-0.03 | $0.17 | $0.26 | |
| EPS (Diluted) | $0.12 | $0.28 | $0.32 | $-0.17 | $0.52 | $0.29 | $0.84 | $0.19 | $0.34 | $0.21 | $-0.03 | $0.17 | $0.26 | |
| Shares (Basic) | 141,688,279 | 141,266,013 | · | 141,226,862 | 140,374,892 | 140,062,284 | · | 137,107,595 | 126,115,301 | 126,115,301 | · | 126,115,301 | 126,115,301 | |
| Shares (Diluted) | 143,052,519 | 141,775,040 | · | 141,226,862 | 141,517,661 | 140,704,075 | · | 137,542,995 | 126,115,301 | 126,115,301 | · | 126,115,301 | 126,115,301 | |
| EBITDA | · | $43M | · | · | · | $36M | · | · | · | · | · | · | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $724M | $610M | $710M | $609M | $541M | $495M | $557M | $563M | $335M | · | · | · | · | |
| Receivables | $696M | $686M | $686M | $729M | $759M | $777M | $743M | $706M | $721M | · | · | · | · | |
| Inventory | $116M | $120M | $119M | $122M | $118M | $120M | $115M | $108M | $105M | · | · | · | · | |
| Prepaid Expense | $148M | $166M | $113M | $131M | $128M | $130M | $114M | $120M | $136M | · | · | · | · | |
| Other Current Assets | $371M | $438M | $432M | $366M | $332M | $239M | $304M | $194M | $205M | · | · | · | · | |
| Current Assets | $2.05B | $2.02B | $2.06B | $1.96B | $1.88B | $1.76B | $1.83B | $1.69B | $1.50B | · | · | · | · | |
| PP&E (Net) | · | · | · | $888M | $870M | $857M | · | $815M | $807M | · | · | · | · | |
| Goodwill | $879M | $879M | $879M | $878M | $878M | $877M | $852M | $852M | $852M | · | $845M | · | · | |
| Intangibles | · | · | $12M | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $124M | $116M | $112M | $112M | $111M | $117M | $143M | $137M | $145M | · | · | · | · | |
| Total Assets | $5.28B | $5.25B | $5.29B | $5.15B | $5.03B | $4.91B | $4.96B | $4.80B | $4.61B | · | · | · | · | |
| Accounts Payable | $430M | $420M | $458M | $382M | $364M | $372M | $401M | $369M | $371M | · | · | · | · | |
| Current Liabilities | $976M | $951M | $1.05B | $943M | $881M | $830M | $945M | $887M | $909M | · | · | · | · | |
| Capital Leases | · | · | $1.17B | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $82M | $66M | $77M | $62M | $32M | $32M | $35M | $54M | $59M | · | · | · | · | |
| Total Liabilities | $3.54B | $3.52B | $3.61B | $3.52B | $3.38B | $3.35B | $3.43B | $3.41B | $3.45B | · | · | · | · | |
| Long-term Debt | $1.10B | $1.11B | $1.12B | $1.12B | $1.13B | $1.13B | $1.10B | $1.10B | $1.09B | · | · | · | · | |
| Total Debt | $1.10B | $1.11B | · | $1.11B | $1.11B | $1.11B | · | $1.10B | $1.09B | · | · | · | · | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $498M | · | · | · | · | |
| Paid-in Capital | $791M | $796M | $788M | $783M | $773M | $763M | $754M | $743M | · | · | · | · | · | |
| Retained Earnings | $558M | $541M | $502M | $457M | $480M | $407M | $366M | $252M | $225M | · | · | · | · | |
| AOCI | $-638.0K | $-2M | $-4M | $-3M | $-396.0K | $4M | $10M | $9M | $17M | · | · | · | · | |
| Stockholders' Equity | $1.35B | $1.34B | $1.29B | $1.24B | $1.25B | $1.18B | $1.13B | $1.01B | $740M | · | · | · | · | |
| Liabilities + Equity | $5.28B | $5.25B | $5.29B | $5.15B | $5.03B | $4.91B | $4.96B | $4.80B | $4.61B | · | · | · | · | |
| Shares Outstanding | 141,910,898 | 143,133,825 | 142,864,171 | 143,169,831 | 143,098,506 | 143,037,764 | 142,747,818 | 0 | 485,909,683 | · | 0 | · | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $41M | $43M | $41M | $39M | $39M | $36M | $38M | $37M | $36M | $35M | $36M | $35M | · | |
| Deferred Tax | $3M | $-429.0K | $29M | $18M | $-793.0K | $-2M | $22M | $3M | $-1M | $319.0K | $-592.0K | $1M | · | |
| Other Non-cash | · | $-143M | · | · | · | $-100M | · | · | · | · | · | · | · | |
| Operating Cash Flow | $197M | $-60M | $223M | $154M | $117M | $-25M | $120M | $90M | $120M | $-15M | $67M | $89M | · | |
| Investing Cash Flow | $-39M | $-28M | $-86M | $-59M | $-46M | $-23M | $-105M | $-45M | $-39M | $-32M | $-57M | $-25M | · | |
| Debt Issued | · | · | $0 | $0 | $0 | $0 | $0 | $2M | $847.0K | $951.0K | $5M | $0 | · | |
| Net Debt Issued | · | $-4M | · | · | · | $-1M | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-43M | $-12M | $-37M | $-27M | $-26M | $-14M | $-20M | $183M | $-120M | $-18M | $-18M | $-24M | · | |
| Net Change in Cash | $115M | $-100M | $100M | $69M | $46M | $-62M | $-6M | $229M | $-38M | $-65M | $-7M | $40M | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 1.0% | 2.5% | · | -1.5% | 4.4% | 2.8% | · | 1.8% | 2.9% | · | · | · | · | |
| Pretax Margin | 2.7% | 4.7% | · | -0.14% | 7.4% | 5.0% | · | 3.9% | 5.6% | · | · | · | · | |
| EBITDA Margin | · | 2.7% | · | · | · | 2.4% | · | · | · | · | · | · | · | |
| ROA | 0.33% | 0.78% | · | -0.47% | 1.5% | 1.7% | · | 1.1% | 1.9% | · | · | · | · | |
| ROE | 1.3% | 3.2% | · | -2.1% | 7.3% | 7.0% | · | 5.2% | 11.6% | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.1 | 2.1 | · | 2.1 | 2.1 | 2.1 | · | 1.9 | 1.7 | · | · | · | · | |
| Quick Ratio | 1.5 | 1.4 | · | 1.4 | 1.5 | 1.5 | · | 1.4 | 1.2 | · | · | · | · | |
| Debt / Equity | 0.8 | 0.8 | · | 0.9 | 0.9 | 0.9 | · | 1.1 | 1.5 | · | · | · | · | |
| LT Debt / Equity | 0.8 | 0.8 | · | 0.9 | 0.9 | 0.9 | · | 1.1 | 1.5 | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.6 | · | 0.6 | 0.6 | · | · | · | · | |
| Receivables Turnover | 2.2 | 2.2 | · | 2.2 | 2.2 | 3.9 | · | 4.1 | 4.1 | · | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $9.52 | $9.34 | · | $8.65 | $8.77 | $8.22 | · | · | $1.52 | · | · | · | · | |
| Revenue / Share | $11.34 | $11.30 | · | $11.16 | $11.63 | $10.64 | · | $10.54 | $11.66 | · | · | · | · | |
| Cash Flow / Share | · | $-0.42 | · | · | · | $-0.18 | · | · | · | · | · | · | · | |
| Cash / Share | $5.11 | $4.26 | · | $4.26 | $3.78 | $3.46 | · | · | $0.69 | · | · | · | · | |
| EPS (TTM) | $0.55 | $0.95 | · | $1.48 | $1.84 | $1.66 | · | $0.71 | $0.69 | $0.61 | · | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.41B | $6.43B | · | $6.33B | $6.20B | $6.02B | · | $5.71B | $5.63B | $5.53B | · | · | · | |
| Net Income TTM | $78M | $134M | · | $205M | $255M | $225M | · | $92M | $87M | $77M | · | · | · | |
| Market Cap | $1.40B | $1.23B | · | $1.90B | $1.95B | $1.97B | · | $0 | · | · | · | · | · | |
| Enterprise Value | $1.77B | $1.73B | · | $2.39B | $2.52B | $2.58B | · | $533M | · | · | · | · | · | |
| P/E | 17.9 | 9.0 | · | 9.0 | 7.4 | 8.3 | · | 25.9 | · | · | · | · | · | |
| P/S | 0.2 | 0.2 | · | 0.3 | 0.3 | 0.3 | · | 0.0 | · | · | · | · | · | |
| P/B | 1.0 | 0.9 | · | 1.5 | 1.6 | 1.7 | · | · | · | · | · | · | · | |
| P / Tangible Book | 3.0 | 2.7 | · | 5.3 | 5.2 | 6.6 | · | 0.0 | · | · | · | · | · | |
| P / Cash Flow | · | -20.3 | · | · | · | -79.3 | · | · | · | · | · | · | · | |
| EV / Revenue | 0.3 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.1 | · | · | · | · | · | |
| Earnings Yield | 5.6% | 11.1% | · | 11.2% | 13.5% | 12.1% | · | 3.9% | · | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenue | $6.32B | $5.97B | $5.41B | $5.13B |
| Net Income | $136M | $210M | $54M | $189M |
| Diluted EPS | $0.96 | $1.58 | $0.43 | $1.50 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Debt / Equity | 0.9 | 1.0 | · | · |
| Current Ratio | 2.0 | 1.9 | · | · |
| Quick Ratio | 1.3 | 1.4 | · | · |
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 146 filers · $1.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
146
Value held
$1.1B
New positions
25
Exited positions
18
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 25 (-7 vs prior Q) | 18 (0 vs prior Q) | 65 (+18 vs prior Q) | 34 (-3 vs prior Q) | +3.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| CHAI TRUST CO LLC | $760,105,550 | 77,246,499 | 70.75% | Shares |
| Ventas, Inc. | $91,930,210 | 9,342,501 | 8.56% | Shares |
| BlackRock, Inc. | $21,415,265 | 2,176,348 | 1.99% | Shares |
| AMERIPRISE FINANCIAL INC | $20,768,296 | 2,110,599 | 1.93% | Shares |
| GOLDENTREE ASSET MANAGEMENT LP | $15,526,017 | 1,580,423 | 1.45% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $14,246,449 | 1,447,810 | 1.33% | Shares |
| VANGUARD GROUP INC | $13,283,568 | 1,504,368 | 1.24% | Shares |
| CastleKnight Management LP | $10,597,355 | 1,076,967 | 0.99% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $9,484,117 | 963,833 | 0.88% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $8,276,680 | 841,126 | 0.77% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,111,413 | 620,947 | 0.57% | Shares |
| ALGERT GLOBAL LLC | $5,881,811 | 597,745 | 0.55% | Shares |
| STATE STREET CORP | $5,571,457 | 566,205 | 0.52% | Shares |
| FIRST TRUST ADVISORS LP | $5,532,815 | 562,278 | 0.51% | Shares |
| Empowered Funds, LLC | $5,424,723 | 551,293 | 0.50% | Shares |
| SageView Advisory Group, LLC | $4,727,599 | 480,447 | 0.44% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $4,377,777 | 444,896 | 0.41% | Shares |
| UBS Group AG | $4,355,371 | 442,619 | 0.41% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,839,972 | 390,241 | 0.36% | Shares |
| MORGAN STANLEY | $3,109,047 | 315,960 | 0.29% | Shares |
| AMERICAN CENTURY COMPANIES INC | $3,044,093 | 309,359 | 0.28% | Shares |
| GOLDMAN SACHS GROUP INC | $2,995,778 | 304,449 | 0.28% | Shares |
| JANE STREET GROUP, LLC | $2,955,375 | 300,343 | 0.28% | Shares |
| JPMORGAN CHASE & CO | $2,406,327 | 242,329 | 0.22% | Shares |
| Bank of New York Mellon Corp | $2,377,217 | 241,587 | 0.22% | Shares |
| NORTHERN TRUST CORP | $2,326,166 | 236,399 | 0.22% | Shares |
| DENALI ADVISORS LLC | $2,324,700 | 236,250 | 0.22% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,048,855 | 208,217 | 0.19% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,968,581 | 200,059 | 0.18% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,637,051 | 166,367 | 0.15% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,567,030 | 159,251 | 0.15% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $1,462,362 | 148,614 | 0.14% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,423,966 | 144,712 | 0.13% | Shares |
| Prescott Group Capital Management, L.L.C. | $1,199,742 | 121,925 | 0.11% | Shares |
| Point72 Asset Management, L.P. | $1,171,737 | 119,079 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $1,116,791 | 113,495 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $1,116,063 | 113,421 | 0.10% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $1,039,419 | 105,632 | 0.10% | Shares |
| D. E. Shaw & Co., Inc. | $1,033,240 | 105,004 | 0.10% | Shares |
| IEQ CAPITAL, LLC | $907,159 | 92,191 | 0.08% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $897,045 | 104,795 | 0.08% | Shares |
| Walleye Capital LLC | $890,628 | 90,511 | 0.08% | Shares |
| Susquehanna Portfolio Strategies, LLC | $864,788 | 87,885 | 0.08% | Shares |
| FIFTH THIRD BANCORP | $860,144 | 87,413 | 0.08% | Shares |
| Trexquant Investment LP | $830,555 | 84,406 | 0.08% | Shares |
| MANGROVE PARTNERS IM, LLC | $806,004 | 81,911 | 0.08% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $707,496 | 71,900 | 0.07% | Shares |
| STRS OHIO | $700,608 | 71,200 | 0.07% | Shares |
| Lido Advisors, LLC | $689,371 | 70,058 | 0.06% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $679,659 | 69,071 | 0.06% | Shares |
Company insiders 17 insiders · 7 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Dave Caspers | CEO and President | July 1, 2026 A | 174,930 | 0 | 0 | $0 |
| Martin Bonick | President and CEO | April 1, 2026 A | 1,437,937 | 0 | 0 | $0 |
| Alfred Lumsdaine | Chief Financial Officer | Sept. 25, 2026 F | 325,794 | 1 | 0 | $88,100 |
| Ethan Chernin | President of Health Services | March 11, 2026 A | 68,396 | 0 | 0 | $0 |
| David Schultz | President Hospital Operations | April 1, 2025 A | 64,172 | 0 | 0 | $0 |
| David Raynor Byers | SVP & Chief Accounting Officer | Sept. 25, 2026 F | 129,921 | 0 | 0 | $0 |
| Stephen C. Petrovich | EVP, GC and Secretary | Sept. 25, 2026 F | 773,919 | 0 | 0 | $0 |
| Robert Demichiei | Director | June 5, 2026 P | 35,564 | 1 | 0 | $98,300 |
| Rahul Sen | Director | April 1, 2026 A | 38,709 | 0 | 0 | $0 |
| Edmondo Robinson | Director | April 1, 2026 A | 58,215 | 0 | 0 | $0 |
| Suzanne Campion | Director | April 1, 2026 A | 58,215 | 0 | 0 | $0 |
| Robert Thomas Webb | Director | April 1, 2026 A | 78,215 | 0 | 0 | $0 |
| Peter J. Bulgarelli | Director | April 1, 2026 A | 14,231 | 0 | 0 | $0 |
| Mark R Sotir | Director | April 1, 2026 A | 38,709 | 0 | 0 | $0 |
| Ellen Havdala | Director | April 1, 2026 A | 115,367 | 0 | 0 | $0 |
| Peter C B Bynoe | Director | April 1, 2026 A | 115,367 | 0 | 0 | $0 |
| William M Goodyear | Director | April 1, 2026 A | 115,367 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 23 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| FYT · First Trust Exchange-Traded AlphaDE… | 0.67% | 121,445 NS | July 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.35% | 443,260 NS | July 31, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.15% | 8,666 NS | July 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.14% | 1,605 NS | July 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.13% | 21,002 NS | July 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.03% | 18,149 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 52,966 SH | Oct. 2, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.01% | 12,889 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 135,376 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 20,573 SH | Aug. 19, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.01% | 71,263 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 632,665 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 11,270 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 4,536 NS | July 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 19,842 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 10,216 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 279,257 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 661,990 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,839 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 229,392 SH | Sept. 11, 2026 | Daily |
| SVAL · iShares Trust | · | 62,336 SH | Sept. 3, 2026 | Daily |
| ISCB · iShares Trust | · | 1,097 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 5,350 SH | Sept. 11, 2026 | Daily |
ARDT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 18 analysts
BUY
Median target
$13.00
+25.7%
5 27.8%
Strong Buy
7 38.9%
Buy
5 27.8%
Hold
1 5.6%
Sell
0 0.0%
Strong Sell
12-Month Price Target
12 analysts · 2026-10-04Mean target $12.67 +22.5%
← Below all targets
Current price $10.34
Low$10.50
Mean$12.67
High$14.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ARDT | $1.26B | 9.2 | 6.0% | 2.1% | 11.2% | · |
| BKD | $2.57B | -9.6 | 2.2% | -8.2% | -313.2% | 26.2% |
| ACHC | $1.28B | -1.2 | 5.0% | -33.3% | -43.9% | · |
| SNDA | $612M | -7.7 | 25.2% | -18.6% | -197.2% | · |
| SGRY | $2.00B | -25.3 | 6.2% | -2.4% | -4.5% | · |
| NUTX | $1.17B | 15.7 | 82.4% | 8.1% | 30.6% | 50.8% |
| USPH | · | 55.0 | 16.3% | 5.1% | 8.2% | 19.2% |
| STLN | · | · | · | · | · | · |
| CYH | $433M | 0.8 | -1.2% | 4.1% | -30.8% | · |
| JYNT | $123M | 45.9 | 5.2% | 5.3% | 16.3% | · |
| HCA | $104.86B | 16.5 | 7.1% | 9.0% | -159.1% | · |
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Source: SEC 10-Q filed Aug 10, 2026