Ardent Health Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Ardent Health's revenue grew 10.3% year-over-year to $6.0B, a solid pace of expansion. This earns a growth score of 58/100.
Ardent Health carries a low D/E ratio of 0.96, meaning only $0.96 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 76/100, indicating a strong balance sheet with room for future borrowing.
Ardent Health's current ratio of 1.94 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.
Ardent Health earns a strong 18.6% return on equity (ROE), meaning it generates $19 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 74/100. This is up from 8.0% the prior year.
Ardent Health passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Ardent Health generates $1.50 in operating cash flow ($315.0M OCF vs $210.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Ardent Health (ARDT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Ardent Health generated $6.0B in revenue in fiscal year 2024. This represents an increase of 10.3% from the prior year.
Ardent Health reported $210.3M in net income in fiscal year 2024. This represents an increase of 290.2% from the prior year.
Ardent Health earned $1.58 per diluted share (EPS) in fiscal year 2024. This represents an increase of 267.4% from the prior year.
Ardent Health held $556.8M in cash against $1.1B in long-term debt as of fiscal year 2024.
Ardent Health had 143M shares outstanding in fiscal year 2024.
Ardent Health's net profit margin was 3.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.5 percentage points from the prior year.
Ardent Health's ROE was 18.6% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 10.6 percentage points from the prior year.
ARDT Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B-4.2% | $1.6B+9.9% | $1.5B-6.8% | $1.6B+9.2% | $1.5B+2.2% | $1.4B | N/A | $1.4B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $36.5M+12.0% | $32.6M-6.6% | $34.9M-4.9% | $36.7M+26.1% | $29.1M-11.6% | $32.9M | N/A | $29.0M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $13.9M-5.5% | $14.7M+3.9% | $14.2M-3.1% | $14.6M-19.4% | $18.2M-5.7% | $19.3M | N/A | $19.0M |
| Income Tax | -$3.4M-113.0% | $26.3M+72.6% | $15.2M-42.2% | $26.4M+73.1% | $15.2M+42.1% | $10.7M | N/A | $7.3M |
| Net Income | -$23.5M-132.2% | $73.0M+76.3% | $41.4M-63.8% | $114.2M+167.0% | $42.8M+58.1% | $27.0M | N/A | $20.8M |
| EPS (Diluted) | $-0.17-132.7% | $0.52+79.3% | $0.29-65.5% | $0.84+147.1% | $0.34+61.9% | $0.21 | N/A | $0.17 |
ARDT Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.2B+2.5% | $5.0B+2.4% | $4.9B-0.9% | $5.0B+7.5% | $4.6B | N/A | $4.7B | N/A |
| Current Assets | $2.0B+4.3% | $1.9B+6.6% | $1.8B-3.9% | $1.8B+22.1% | $1.5B | N/A | $1.6B | N/A |
| Cash & Equivalents | $609.4M+12.7% | $540.6M+9.2% | $495.0M-11.1% | $556.8M+66.4% | $334.5M-10.3% | $372.8M-14.8% | $437.6M-1.6% | $444.7M |
| Inventory | $121.6M+2.7% | $118.4M-1.6% | $120.4M+4.6% | $115.1M+9.6% | $105.0M | N/A | $105.5M | N/A |
| Accounts Receivable | $729.4M-3.9% | $758.6M-2.3% | $776.5M+4.5% | $743.0M+3.1% | $721.0M | N/A | $775.5M | N/A |
| Goodwill | $877.5M0.0% | $877.7M+0.1% | $876.6M+2.9% | $852.1M0.0% | $852.0M | N/A | $844.7M | N/A |
| Total Liabilities | $3.5B+4.2% | $3.4B+1.0% | $3.3B-2.5% | $3.4B-0.4% | $3.4B | N/A | $3.6B | N/A |
| Current Liabilities | $943.2M+7.1% | $880.9M+6.1% | $830.1M-12.2% | $945.4M+4.1% | $908.6M | N/A | $994.1M | N/A |
| Long-Term Debt | $1.1B-0.3% | $1.1B0.0% | $1.1B+0.4% | $1.1B+0.4% | $1.1B | N/A | $1.2B | N/A |
| Total Equity | $1.2B-1.3% | $1.3B+6.8% | $1.2B+3.9% | $1.1B+52.9% | $739.9M-33.3% | $1.1B+65.5% | $670.9M-38.1% | $1.1B |
| Retained Earnings | $456.7M-4.9% | $480.1M+17.9% | $407.2M+11.3% | $365.8M+62.4% | $225.3M | N/A | $155.5M | N/A |
ARDT Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $154.4M+31.4% | $117.5M+574.0% | -$24.8M-120.7% | $119.6M-0.7% | $120.4M+919.9% | -$14.7M-121.8% | $67.5M-23.9% | $88.7M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$58.6M-26.8% | -$46.2M-100.0% | -$23.1M+78.1% | -$105.4M-171.3% | -$38.9M-22.9% | -$31.6M+44.2% | -$56.7M-128.9% | -$24.8M |
| Financing Cash Flow | -$26.9M-4.9% | -$25.7M-85.5% | -$13.8M+32.5% | -$20.5M+82.9% | -$119.8M-548.1% | -$18.5M-3.3% | -$17.9M+25.2% | -$23.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ARDT Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -1.5%-5.9pp | 4.4%+1.7pp | 2.8%-4.3pp | 7.1%+4.2pp | 2.9%+1.0pp | 1.9% | N/A | 1.5% |
| Return on Equity | N/A | 5.8%+2.3pp | 3.5%-6.6pp | 10.1%+4.3pp | 5.8%+3.3pp | 2.4% | N/A | 1.9% |
| Return on Assets | -0.5%-1.9pp | 1.5%+0.6pp | 0.8%-1.5pp | 2.3%+1.4pp | 0.9% | N/A | N/A | N/A |
| Current Ratio | 2.08-0.1 | 2.130.0 | 2.12+0.2 | 1.94+0.3 | 1.65 | N/A | 1.63 | N/A |
| Debt-to-Equity | 0.880.0 | 0.87-0.1 | 0.93-0.0 | 0.96-0.5 | 1.46 | N/A | 1.74 | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Ardent Health's annual revenue?
Ardent Health (ARDT) reported $6.0B in total revenue for fiscal year 2024. This represents a 10.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ardent Health's revenue growing?
Ardent Health (ARDT) revenue grew by 10.3% year-over-year, from $5.4B to $6.0B in fiscal year 2024.
Is Ardent Health profitable?
Yes, Ardent Health (ARDT) reported a net income of $210.3M in fiscal year 2024, with a net profit margin of 3.5%.
What is Ardent Health's earnings per share (EPS)?
Ardent Health (ARDT) reported diluted earnings per share of $1.58 for fiscal year 2024. This represents a 267.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
How much debt does Ardent Health have?
As of fiscal year 2024, Ardent Health (ARDT) had $556.8M in cash and equivalents against $1.1B in long-term debt.
What is Ardent Health's net profit margin?
Ardent Health (ARDT) had a net profit margin of 3.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Ardent Health's return on equity (ROE)?
Ardent Health (ARDT) has a return on equity of 18.6% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Ardent Health's operating cash flow?
Ardent Health (ARDT) generated $315.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Ardent Health's total assets?
Ardent Health (ARDT) had $5.0B in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Ardent Health have outstanding?
Ardent Health (ARDT) had 143M shares outstanding as of fiscal year 2024.
What is Ardent Health's current ratio?
Ardent Health (ARDT) had a current ratio of 1.94 as of fiscal year 2024, which is generally considered healthy.
What is Ardent Health's debt-to-equity ratio?
Ardent Health (ARDT) had a debt-to-equity ratio of 0.96 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ardent Health's return on assets (ROA)?
Ardent Health (ARDT) had a return on assets of 4.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Ardent Health's Piotroski F-Score?
Ardent Health (ARDT) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ardent Health's earnings high quality?
Ardent Health (ARDT) has an earnings quality ratio of 1.50x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ardent Health?
Ardent Health (ARDT) scores 66 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.