CONCENTRA GROUP HOLDINGS PARENT, INC. vs TENET HEALTHCARE CORP, two Medical Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Nothing here states growth, so the market's guesses stand in: Tenet at 9.8 times earnings is priced for hospital margins to fade, Concentra at 21.7 for occupational health to compound quietly. The current numbers favor Tenet everywhere: a 24.1% operating margin against 16.8%, a 20.4% free-cash yield against 5.5%, and half the leverage, 1.97 turns against 3.62. Both returns on equity, 39.5% and 41.2%, are geared and deserve their asterisks. What the twelve-turn multiple gap buys is durability belief: employer clinics feel structural, elevated hospital acuity feels cyclical. The cash flows meanwhile pay Tenet's holders four times as fast while the argument resolves.
Comparison updated 2026-07-10.
| Metric | CON | THC |
|---|---|---|
| Price | $30.16 | $187.50 |
| Market cap | $3.9B | $16.4B |
| Sector | Medical Care | Medical Care |
| Stage | Growth | Mature |
| Implied growth (priced in) | -4.1% | — |
| P/E | 21.7 | 9.8 |
| P/B | 8.97 | 2.45 |
| P/S | 1.74 | 0.77 |
| EV/EBITDA | 12.6 | 5.6 |
| Revenue growth | +15.5% | +4.5% |
| Operating margin | 16.8% | 24.1% |
| Net margin | 8.0% | 12.4% |
| Return on equity | 41.2% | 39.5% |
| Return on assets | 6.2% | 8.5% |
| Return on invested capital | 13.2% | 15.5% |
| FCF yield | 5.5% | 20.4% |
| Dividend yield | 0.8% | — |
| Debt / equity | 3.62 | 1.97 |
| Current ratio | 1.26 | 1.36 |
| Altman Z (solvency) | 1.96 | 1.58 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.