Ardent Health (ARDT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ardent Health

NYSE•Healthcare•Medical Care Facilities

$10.92-0.23(-0.02%)Market open

Market Cap

$1.52B

P/E

19.4x

P/S

0.2x

P/B

1.1x

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.

How this company scores

AverageMetricSide Score: 46/100

Strongest: Cash & Earnings Quality (21/25); weakest: Growth (3/25).

Profitability6/25

Growth3/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality21/25

Strengths

Rising free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 19.4x5y range 6.8x – 19.4x

Currently above its 6-quarter median.

P/S · 0.2x5y range 0.2x – 0.3x

Currently near its 6-quarter median.

P/B · 1.1x5y range 0.9x – 2.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 45.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $1.52B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.41B
Q. Revenue: $1.62B
TTM EBITDA: $372.48M
TTM Op. Income: $207.96M
Q. Op. Income: $43.20M
TTM Net Income: $78.23M
Q. Net Income: $16.90M
EPS: $0.12
Shares Out.: $141.69M

$6.41B in TTM revenue declined 16.1% YoY, reaching $1.62B last quarter. TTM EBITDA of $372.48M and TTM operating income of $207.96M show growth is flowing through to the bottom line. TTM net income of $78.23M means revenue is converting into profit. Over the past year, TTM revenue is down 16% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 5.2%
Op. Margin: 2.7%
Net Margin: 1.0%

Op. margin of 2.7% is down 4.8% YoY — costs are rising relative to revenue. Net margin at 1.0% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 19.4x
P/S Ratio: 0.2x
P/B Ratio: 1.1x

At 19.4x P/E, the stock trades within typical market levels. P/S of 0.2x and P/B of 1.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 185% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.28B
Cash: $724.48M
Long-Term Debt: $1.07B
Book Value: $1.35B
D/E Ratio: 0.8
Debt/EBITDA: 12.7

With $5.28B in assets and $1.07B in long-term debt, D/E is 0.8and book value is $1.35B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $196.74M
TTM Free Cash Flow: $304.75M
FCF Margin: 4.8%
FCF / Net Income: 3.9

TTM FCF of $304.75M on $196.74M in operating cash flow. The FCF / Net Income ratio of 3.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 182% — an improving trend.