Ardent Health ARDT

NYSE · Services-General Medical & Surgical Hospitals, Nec · $1.8B

$15.90+22.40%Nov 5 close · Databento

Every report since 2024 →

🔒 Click to interact · scroll moves the page

ARDT Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $15.901D +22.40%3M +43.76%SMA20 $12.19SMA50 $11.32RSI(14) 81.9

15.90

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 81.9

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$1.8B

Enterprise value$2.3B

Revenue$6.3B +6.0%

EPS, diluted$0.96 −39.2%

Modern Valuation (EOD)

Market Cap$1.8B

Enterprise Value$2.3B

EV / True FCF—

EV / FCF—

EV / Gross Profit—

EV / EBIT—

EV / Sales0.36

P / E (GAAP)13.49

P / FCF—

P / Oper. CF3.89

P / Book1.09

Owner & Cash Yields

True FCF Yield—

FCF Yield—

Owner Earn. Yield—

Earnings Yield7.4%

Shareholder Yield0.0%

Buyback Yield—

Dividend Yield—

Dividend / sh—

Payout Ratio0%

FCF / sh—

EPS (diluted)$0.96

Compounder & Returns

Rule of 40—

ROIC—

Cash ROIC (CROIC)—

GP / Assets—

ROE8.1%

ROA2.6%

Gross Margin—

Oper. Margin—

Net Margin2.1%

FCF Margin—

True FCF Margin—

Quality & Dilution

Cash Conversion—

Accrual Ratio−6.3%

SBC % of FCF—

SBC % of Rev—

Reinvest. Rate—

Sales Growth Y/Y+6.0%

Sales 3Y CAGR+7.2%

EPS Growth Y/Y−39.2%

FCF Growth Y/Y—

FCF 3Y CAGR—

Share Change Y/Y+6.6%

Balance Sheet & Scale

Revenue (FY)$6.3B

Gross Profit (FY)—

Oper. Income (FY)—

GAAP Net Income$135.8M

True FCF (ex-SBC)—

Cash & Equiv$709.6M

Total Debt$1.1B

Net Cash (Debt)$-429.8M

Net Cash % MCap−23.5%

Debt / FCF (yrs)—

Current Ratio1.97140.94M sh

Price & Technicals (EOD)

Perf Week+29.27%

Perf Month+46.14%

Perf Quarter+37.66%

Perf Half Y+60.61%

Perf YTD+56.50%

SMA 20 Dist+30.48%$12.19

SMA 50 Dist+40.52%$11.32

SMA 100 Dist+46.14%$10.88

Window High0.00%$15.90

Window Low+103.07%$7.83

RSI (14) · Vol81.984%v

Income Distribution & Cash Flow ConversionHow every dollar of ARDT revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$0 ($0.0 / $100)

Operating Expenses$0 ($0.0 / $100)

Tax & Non-Operating$6.2B ($97.9 / $100)

Net Profit Kept$135.8M ($2.1 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$135.8M (2.1% margin)

Operating Cash Flow (OCF)$470.5M(7.4% of rev)

Less: Capital Expenditures—

Standard Free Cash Flow (FCF)—

Less: Stock-Based Comp (SBC)—

True FCF (Owner Cash ex-SBC)—

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2022	FY2023	FY2024	FY2025	YoY Δ	3Y CAGR
Income Statement
Revenue	$5.1B	$5.4B	$6.0B	$6.3B	+6.0%	+7.2%
Income Tax Expense	$46.1M	$22.6M	$63.4M	$56.2M	−11.3%	+6.8%
GAAP Net Income	$188.9M	$53.9M	$210.3M	$135.8M	−35.4%	−10.4%
Diluted EPS	$1.50	$0.43	$1.58	$0.96	−39.2%	−13.8%
Diluted Shares	126.1M	126.1M	132.7M	141.5M	+6.6%	+3.9%
Balance Sheet
Cash & Equivalents	$456.1M	$437.6M	$556.8M	$709.6M	+27.4%	+15.9%
Inventory	$110.1M	$105.5M	$115.1M	$118.6M	+3.0%	+2.5%
Total Current Assets	$2.2B	$1.6B	$1.8B	$2.1B	+12.3%	−1.7%
Total Assets	$5.4B	$4.7B	$5.0B	$5.3B	+6.7%	−0.4%
Total Current Liabilities	$1.0B	$994.1M	$945.4M	$1.0B	+10.7%	+0.9%
Total Debt (Short + Long Term)	$1.1B	$1.2B	$1.1B	$1.1B	+1.4%	+1.2%
Total Liabilities	$3.6B	$3.6B	$3.4B	$3.6B	+5.0%	+0.3%
Stockholders' Equity	$1.0B	$1.1B	$1.5B	$1.7B	+10.8%	+17.5%
Net Cash / (Net Debt)	$-642.3M	$-749.3M	$-566.5M	$-429.8M	+24.1%	—
Invested Capital	$1.7B	$1.8B	$2.1B	$2.1B	+1.4%	+8.0%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$-38.4M	$221.7M	$315.0M	$470.5M	+49.4%	—
Depreciation & Amortization (D&A)	$138.2M	$140.8M	$146.3M	$155.7M	+6.4%	+4.1%
Dividends Paid	$174.8M	$0	$0	$0	—	—

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what ARDT did at the next close after each story

No Wire story has named ARDT yet.

What happened · big days

17 big days in a year, and what we hold on each

A big day is a close more than 4.79% from the one before, three times ARDT’s median day (1.60%). On 4 of the 17, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±4.79%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayARDTWhat we hold that dayGroup (median of 4) · each

1 Nov 10, 2025−5.14%
Before our storiesgroup −4.4%, moved with ARDT
1Nov 10, 2025−5.14%
Before our stories
−4.4% moved with ARDTSGRY −25.4 · THC −5.2 · HCA −3.6 · UHS −2.9
2 Nov 13, 2025−33.81%
Resultsgroup −1.0%, did not move with it
2Nov 13, 2025−33.81%
ResultsFirst close after the Nov 12 results filing
−1.0% did not move with itSGRY −3.5 · THC −1.7 · UHS −0.4 · HCA −0.1
3 Nov 17, 2025−8.10%
Before our storiesgroup +0.2%, did not move with it
3Nov 17, 2025−8.10%
Before our stories
+0.2% did not move with itSGRY −1.4 · THC −0.3 · UHS +0.7 · HCA +0.9
4 Nov 18, 2025+5.07%
Before our storiesgroup +0.6%, did not move with it
4Nov 18, 2025+5.07%
Before our stories
+0.6% did not move with itUHS +1.0 · SGRY +0.8 · THC +0.3 · HCA +0.2
5 Feb 2, 2026+5.14%
Before our storiesgroup −0.1%, did not move with it
5Feb 2, 2026+5.14%
Before our stories
−0.1% did not move with itHCA +1.8 · UHS +0.3 · SGRY −0.4 · THC −0.7
6 Mar 6, 2026−5.72%
Before our storiesgroup −2.0%, did not move with it
6Mar 6, 2026−5.72%
Before our stories
−2.0% did not move with itSGRY −5.3 · UHS −2.2 · THC −1.8 · HCA −0.3
7 Apr 17, 2026+4.98%
Before our storiesgroup +2.2%, did not move with it
7Apr 17, 2026+4.98%
Before our stories
+2.2% did not move with itSGRY +4.2 · THC +2.4 · UHS +2.1 · HCA +1.0
8 May 6, 2026−7.50%
Resultsgroup +2.1%, did not move with it
8May 6, 2026−7.50%
ResultsFirst close after the May 5 results filing
+2.1% did not move with itHCA +0.1 · UHS +1.9 · SGRY +2.3 · THC +4.1
9 May 7, 2026+5.66%
Before our storiesgroup −0.1%, did not move with it
9May 7, 2026+5.66%
Before our stories
−0.1% did not move with itUHS +1.2 · HCA −0.1 · THC −0.2 · SGRY −1.9
10 Jun 3, 2026−15.53%
Before our storiesgroup −0.2%, did not move with it
10Jun 3, 2026−15.53%
Before our stories
−0.2% did not move with itSGRY −1.9 · HCA −1.1 · THC +0.8 · UHS +2.4
11 Jun 4, 2026+9.83%
Before our storiesgroup −1.3%, did not move with it
11Jun 4, 2026+9.83%
Before our stories
−1.3% did not move with itSGRY +1.3 · HCA −0.4 · THC −2.1 · UHS −2.2
12 Jun 9, 2026+6.57%
Before our storiesgroup +2.3%, did not move with it
12Jun 9, 2026+6.57%
Before our stories
+2.3% did not move with itHCA +3.8 · UHS +2.6 · THC +2.1 · SGRY +0.8
13 Jul 2, 2026+6.22%
Nothing on ARDTgroup +4.8%, moved with ARDT
13Jul 2, 2026+6.22%
Nothing on ARDTNo ARDT story, brief or results filing in our record that day
+4.8% moved with ARDTTHC +6.5 · UHS +5.2 · HCA +4.4 · SGRY +3.8
14 Jul 8, 2026−6.19%
Nothing on ARDTgroup −3.0%, did not move with it
14Jul 8, 2026−6.19%
Nothing on ARDTNo ARDT story, brief or results filing in our record that day
−3.0% did not move with itSGRY −3.9 · UHS −3.0 · HCA −3.0 · THC −1.2
15 Aug 21, 2026+4.87%
Nothing on ARDTgroup +3.6%, moved with ARDT
15Aug 21, 2026+4.87%
Nothing on ARDTNo ARDT story, brief or results filing in our record that day
+3.6% moved with ARDTHCA +5.6 · SGRY +4.2 · THC +3.0 · UHS +2.5
16 Nov 4, 2026+10.93%
Nothing on ARDTgroup +10.0%, moved with ARDT
16Nov 4, 2026+10.93%
Nothing on ARDTNo ARDT story, brief or results filing in our record that day
+10.0% moved with ARDTUHS +10.9 · HCA +10.3 · THC +9.6 · SGRY +0.1
17 Nov 5, 2026+22.40%
Resultsgroup +0.0%, did not move with it
17Nov 5, 2026+22.40%
ResultsFirst close after the Nov 4 results filing
+0.0% did not move with itUHS +1.1 · SGRY +0.0 · THC −2.0

A story on the same day is not a cause, and a group move is not proof either. Group: the median of HCA, THC, UHS and SGRY that day, the largest companies in ARDT’s SEC industry; “moved with ARDT” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). ARDT reports after the close, so day 1 is the next close. Each time, day 6 ended on the same side as day 1.

Reported Nov 12, 2025

day 1−33.81%day 6−38.51%

Reported Mar 4, 2026

day 1−2.07%day 6−4.15%

Reported May 5, 2026

day 1−7.50%day 6−2.17%

Reported Aug 4, 2026

day 1+3.81%day 6+3.26%

Next report: expected early FebruaryEstimated from the dates of its last four results filings. Not announced. Since the Nov 4 report: +22.40%. Four reports is a small sample.

Every report since 2024 →

Each line is ARDT’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

ARDT against four same-industry peers, a year at 100

ARDT is up 10.4% in a year. Tenet Healthcare is up 39.6%. Of these four, Surgery Partners (+7.8%), HCA Healthcare (+7.2%) and Universal Health Services (−13.4%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

Share this chart

ARDT +10.4%. Tenet Healthcare +39.6%, Surgery Partners +7.8%, HCA Healthcare +7.2%, Universal Health Services −13.4%. Weekly closes, Nov 7, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in ARDT’s SEC industry (Services-General Medical & Surgical Hospitals, Nec) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

HCA	HCA Healthcare	$110.6B	−0.63%
THC	Tenet Healthcare	$23.5B	−1.98%
UHS	Universal Health Services	$12.7B	+1.08%
SGRY	Surgery Partners	$3.0B	+0.04%
CYH	Community Health Systems	$336M	−4.20%