OPTION CARE HEALTH, INC. vs TENET HEALTHCARE CORP, two Medical Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The margin gap is four-fold against the smaller company: Tenet's 24.1% operating margin over Option Care's 5.4%, hospital economics at their cyclical best against home-infusion logistics at their structural normal. The multiples invert it, 17 times for Option Care against 9.8 for Tenet, the market paying more per dollar for thin-but-trending than fat-but-suspect. Tenet's 20.4% free-cash yield triples Option Care's 6.2%, with leverage to match, 1.97 turns against 0.86. Returns on equity, 39.5% geared against 15.3% modest, need their usual adjustments. One price says hospital margins mean-revert; the other says care keeps moving home. Both can be right, which is the quiet joke of the pair.
Comparison updated 2026-07-10.
| Metric | OPCH | THC |
|---|---|---|
| Price | $21.76 | $187.50 |
| Market cap | $3.4B | $16.4B |
| Sector | Medical Care | Medical Care |
| Stage | Mature | Mature |
| Implied growth (priced in) | -4.3% | — |
| P/E | 17.0 | 9.8 |
| P/B | 2.55 | 2.45 |
| P/S | 0.61 | 0.77 |
| EV/EBITDA | 11.1 | 5.6 |
| Revenue growth | +9.4% | +4.5% |
| Gross margin | 19.4% | — |
| Operating margin | 5.4% | 24.1% |
| Net margin | 3.6% | 12.4% |
| Return on equity | 15.3% | 39.5% |
| Return on assets | 6.1% | 8.5% |
| Return on invested capital | 9.8% | 15.5% |
| FCF yield | 6.2% | 20.4% |
| Debt / equity | 0.86 | 1.97 |
| Current ratio | 1.64 | 1.36 |
| Altman Z (solvency) | 3.31 | 1.58 |
| Piotroski F (quality) | 4 / 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.