ARDT · Ardent Health, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.60B | - | $1.58B | $1.65B | $1.44B | - | $1.45B | $1.47B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - |
| SG&A | $48.60M | - | $36.50M | $32.60M | $32.90M | - | $33.70M | $29.10M | - |
| Total Operating Expenses | $1.53B | - | $1.58B | $1.52B | $1.38B | - | $1.33B | $1.39B | - |
| D&A | $42.99M | - | - | - | $35.35M | - | - | - | - |
| Operating Income | $74.59M | - | ($2.20M) | $121.99M | $56.56M | - | $57.07M | $82.18M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - |
| Income Tax | $16.10M | - | ($3.41M) | $26.29M | $10.71M | - | $11.06M | $12.11M | - |
| Net Income | $39.85M | - | ($23.48M) | $72.95M | $41.38M | - | $26.32M | $27.05M | - |
| EPS - Basic | $0.28 | - | ($0.17) | $0.52 | $0.21 | - | $0.19 | $0.34 | - |
| EPS - Diluted | $0.28 | - | ($0.17) | $0.52 | $0.21 | - | $0.19 | $0.34 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $609.69M | $709.60M | $609.44M | $540.63M | $495.04M | $556.78M | $563.14M | $334.54M | $718.24M |
| Accounts Receivable | $685.99M | $686.10M | $729.41M | $758.64M | $776.52M | $743.03M | $705.75M | $775.45M | - |
| Inventory | $119.84M | $118.59M | $121.59M | $118.40M | $120.36M | $115.09M | $108.23M | $105.48M | - |
| Accounts Payable | $419.72M | $457.94M | $381.85M | $364.45M | $371.92M | $401.25M | $368.85M | $371.10M | - |
| Current Assets | $2.02B | $2.06B | $1.96B | $1.88B | $1.76B | $1.83B | $1.69B | $1.50B | - |
| Total Assets | $5.25B | $5.29B | $5.15B | $5.03B | $4.91B | $4.96B | $4.80B | $4.61B | - |
| Current Liabilities | $951.48M | $1.05B | $943.15M | $880.87M | $830.14M | $945.42M | $887.33M | $908.56M | - |
| Long-term Debt | $1.07B | $1.08B | $1.09B | $1.09B | $1.09B | $1.09B | $1.08B | $1.08B | - |
| Total Liabilities | $3.52B | $3.61B | $3.52B | $3.38B | $3.35B | $3.43B | $3.41B | $3.45B | - |
| Stockholders' Equity | $1.34B | $1.29B | $1.24B | $1.25B | $1.18B | $1.13B | $1.01B | $670.90M | $978.35M |
| Retained Earnings | $541.46M | $501.61M | $456.65M | $480.13M | $407.18M | $365.80M | $251.59M | $225.27M | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($60.22M) | - | - | - | ($14.69M) | - | - | - | - |
| Investing Cash Flow | ($27.90M) | - | - | - | ($31.64M) | - | - | - | - |
| Financing Cash Flow | ($11.79M) | - | - | - | ($18.48M) | - | - | - | - |
| CapEx | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|
| Profitability | |||||||||
| Gross margin | - | - | - | - | - | - | - | - | - |
| Operating margin | 4.7% | - | -0.1% | 7.4% | 3.9% | - | 3.9% | 5.6% | - |
| EBITDA margin | 7.3% | - | - | - | 6.4% | - | - | - | - |
| Net margin | 2.5% | - | -1.5% | 4.4% | 2.9% | - | 1.8% | 1.8% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 3.0% | - | 2.3% | 2.0% | 2.3% | - | 2.3% | 2.0% | - |
| Effective tax rate | 28.8% | - | - | 26.5% | 20.6% | - | 29.6% | 30.9% | - |
| Return on assets | 0.8% | - | -0.5% | 1.5% | 0.8% | - | 0.5% | 0.6% | - |
| Return on equity | 3.0% | - | -1.9% | 5.8% | 3.5% | - | 2.6% | 4.0% | - |
| Return on invested capital | 2.2% | - | -0.1% | 3.8% | 2.0% | - | 1.9% | 3.2% | - |
| Liquidity | |||||||||
| Current ratio | 2.12 | 1.97 | 2.08 | 2.13 | 2.12 | 1.94 | 1.91 | 1.65 | - |
| Quick ratio | 2.00 | 1.85 | 1.95 | 2.00 | 1.98 | 1.82 | 1.78 | 1.54 | - |
| Cash ratio | 0.64 | 0.68 | 0.65 | 0.61 | 0.60 | 0.59 | 0.63 | 0.37 | - |
| Leverage | |||||||||
| Debt / Equity | 0.80 | 0.84 | 0.88 | 0.87 | 0.93 | 0.96 | 1.08 | 1.61 | - |
| Debt / Assets | 0.20 | 0.20 | 0.21 | 0.22 | 0.22 | 0.22 | 0.23 | 0.23 | - |
| Debt / EBITDA | 9.12 | - | - | - | 11.86 | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.93 | 4.11 | 4.16 | 4.01 | 4.18 | 4.38 | 4.77 | 6.87 | - |
| Liabilities / Assets | 0.67 | 0.68 | 0.68 | 0.67 | 0.68 | 0.69 | 0.71 | 0.75 | - |
| Efficiency | |||||||||
| Asset turnover | 0.30 | - | 0.31 | 0.33 | 0.29 | - | 0.30 | 0.32 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 156d | - | 169d | 168d | 197d | - | 178d | 192d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - |
| Valuation | |||||||||
| P / E | 30.6x | - | - | 26.3x | 65.5x | - | 96.7x | - | - |
| P / B | 0.9x | - | 1.5x | 1.5x | 1.5x | - | 2.5x | - | - |
| P / S | 0.8x | - | 1.2x | 1.2x | 1.2x | - | 1.7x | - | - |
| EV / EBITDA | 14.3x | - | - | - | 25.3x | - | - | - | - |
| Growth | |||||||||
| Revenue growth (YoY) | 11.3% | - | 8.8% | 11.9% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 31.9% | - | - | 48.4% | - | - | - | - | - |
| Net income growth (YoY) | -3.7% | - | - | 169.7% | - | - | - | - | - |
| EPS growth (YoY) | 33.3% | - | - | 52.9% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 13.8% | 13.8% | 23.1% | 87.0% | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$6.32B totalReportable Segment$6.32B · 100.0%
Product / service
$6.20B totalOther Managed Care$2.80B · 45.1%
Medicare$2.44B · 39.3%
Medicaid$604.77M · 9.7%
Self Pay And Other$360.06M · 5.8%
Peer comparison
Same SIC group: Services-General Medical & Surgical Hospitals, NEC
Comparing Ardent Health against the 5 most active filers in the same SIC group.