Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Tenet Healthcare's performance for the fourth quarter of 2024 and the full year was marked by significant operational achievements and strategic transactions aimed at strengthening its financial posture and business flexibility.</li><li>The company reported net operating revenues of $20.7 billion with a consolidated adjusted EBITDA of $4 billion for the year, reflecting a 13% increase over 2023 and an enhanced EBITDA margin of 19.3%.</li><li>This performance was buoyed by robust same-store revenue growth across its segments and disciplined cost management.</li></ul>

Tenet Healthcare's performance for the fourth quarter of 2024 and the full year was marked by significant operational achievements and strategic transactions aimed at strengthening its financial posture and business flexibility.The company reported net operating revenues of $20.7 billion with a consolidated adjusted EBITDA of $4 billion for the year, reflecting a 13% increase over 2023 and an enhanced EBITDA margin of 19.3%.This performance was buoyed by robust same-store revenue growth across its segments and disciplined cost management.

Tenet Healthcare: USPI Resiliency & Growth Driving Our 'Buy' Rating!

<ul><li>Analyzing Tenet Healthcare's third-quarter 2024 earnings, the revenue figures are telling: a 15% increase in adjusted EBITDA of $978 million and net operating revenues hitting $5.1 billion, reflecting a sustained positive trajectory.</li><li>Key growth drivers were highlighted across various segments.</li><li>USPI, for instance, continued its assertive expansion with revenue growth of 8.7% in its facilities, with new developments and partnerships, particularly the new joint venture in San Diego, fostering further optimism about its growth prospects.</li></ul>

Analyzing Tenet Healthcare's third-quarter 2024 earnings, the revenue figures are telling: a 15% increase in adjusted EBITDA of $978 million and net operating revenues hitting $5.1 billion, reflecting a sustained positive trajectory.Key growth drivers were highlighted across various segments.USPI, for instance, continued its assertive expansion with revenue growth of 8.7% in its facilities, with new developments and partnerships, particularly the new joint venture in San Diego, fostering further optimism about its growth prospects.

Tenet Healthcare Corporation: Expansion of Acute Care Services & Other Major Drivers

<ul><li>Tenet Healthcare Corporation delivered robust financial results in the second quarter of 2024, surpassing expectations with net operating revenues recorded at $5.1 billion.</li><li>The performance was marked by a notable 12% year-over-year growth in consolidated adjusted EBITDA, which reached $945 million, translating to an adjusted EBITDA margin of 18.5%.</li><li>This growth is primarily attributed to strong operational execution and strategic expansions across its segments.</li></ul>

Tenet Healthcare Corporation delivered robust financial results in the second quarter of 2024, surpassing expectations with net operating revenues recorded at $5.1 billion.The performance was marked by a notable 12% year-over-year growth in consolidated adjusted EBITDA, which reached $945 million, translating to an adjusted EBITDA margin of 18.5%.This growth is primarily attributed to strong operational execution and strategic expansions across its segments.

Tenet Healthcare Corporation: Focus on Ambulatory Surgical Centers (ASC) Growth & Enhanced Operational Management! - Major Drivers

<ul><li>In the first quarter of 2024 earnings, Tenet Healthcare Corp delivered an overview of their recent performance and future outlook.</li><li>The company closed the sale of nine hospitals for pre-tax proceeds of $4 billion, which has allowed for retirement of debt and a significant reduction in their leverage ratio.</li><li>The lessened liabilities help Tenet to continue investing in its ambulatory care program, thereby improving their capital efficiency and profitability.</li></ul>

In the first quarter of 2024 earnings, Tenet Healthcare Corp delivered an overview of their recent performance and future outlook.The company closed the sale of nine hospitals for pre-tax proceeds of $4 billion, which has allowed for retirement of debt and a significant reduction in their leverage ratio.The lessened liabilities help Tenet to continue investing in its ambulatory care program, thereby improving their capital efficiency and profitability.

Tenet Healthcare Corporation: What Is Their Biggest Competitive Advantage? - Major Drivers

<ul><li>Tenet Healthcare's Q4 2023 earnings indicated a strong performance, with net operating revenues of $20.5 billion, and consolidated adjusted EBITDA of $3.54 billion, which translates into an attractive 17.2% adjusted EBITDA margin.</li><li>The company has demonstrated its ability to maintain profitability while focusing on quality and innovation.</li><li>Yet, some challenges were also mentioned during the earnings call.</li></ul>

Tenet Healthcare's Q4 2023 earnings indicated a strong performance, with net operating revenues of $20.5 billion, and consolidated adjusted EBITDA of $3.54 billion, which translates into an attractive 17.2% adjusted EBITDA margin.The company has demonstrated its ability to maintain profitability while focusing on quality and innovation.Yet, some challenges were also mentioned during the earnings call.

Tenet Healthcare Corporation: Initiation Of Coverage - Its Focus on Higher Acuity Services in Hospitals & Other Core Strategies! - Major Drivers

United States

Tenet Healthcare Corporation, through its subsidiaries, owns or operates general hospitals and related health care facilities serving communities in the United States.  The Company operates rehabilitation hospitals, specialty hospitals, long-term care facilities, psychiatric facilities, and medical office buildings near its general hospitals, as well as ancillary health care businesses.

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Tenet Healthcare (THC US)

Tenet Healthcare: USPI Resiliency & Growth Driving Our 'Buy' Rating!

Tenet Healthcare's performance for the fourth quarter of 2024 and the full year was marked by significant operational achievements and strategic...

Baptista Research

Tenet Healthcare Corporation: Expansion of Acute Care Services & Other Major Drivers

Analyzing Tenet Healthcare's third-quarter 2024 earnings, the revenue figures are telling: a 15% increase in adjusted EBITDA of $978 million and...

Baptista Research

Tenet Healthcare Corporation: Focus on Ambulatory Surgical Centers (ASC) Growth & Enhanced Operational Management! - Major Drivers

Tenet Healthcare Corporation delivered robust financial results in the second quarter of 2024, surpassing expectations with net operating revenues...

Baptista Research

Tenet Healthcare Corporation: What Is Their Biggest Competitive Advantage? - Major Drivers

In the first quarter of 2024 earnings, Tenet Healthcare Corp delivered an overview of their recent performance and future outlook. The company...

Baptista Research

Tenet Healthcare Corporation: Initiation Of Coverage - Its Focus on Higher Acuity Services in Hospitals & Other Core Strategies! - Major Drivers

Tenet Healthcare's Q4 2023 earnings indicated a strong performance, with net operating revenues of $20.5 billion, and consolidated adjusted EBITDA...

Baptista Research

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