What is Ardent Health's earnings per share (EPS)?

Ardent Health (ARDT) reported diluted earnings per share of $0.96 for fiscal year 2025. This represents a -39.2% 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.

Ardent Health Financials

ARDT

FY2025 annual

Revenue $6.3B +6.0% YoY

Net Income $135.8M -35.4% YoY

EPS (Diluted) $0.96 -39.2% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Ardent Health (ARDT) reported $6.3B in revenue for fiscal year 2025, up 6.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).

Rhea AI ARDT FY2025 2026-05-06

Ardent’s core mechanic is a cash collection recovery that is strengthening liquidity faster than reported profit.

Across the last two valid years, operating cash flow climbed from $222M to $471M while accounts receivable fell despite rising revenue, a pattern consistent with faster collection and tighter working capital rather than growth bought with slower payment. That is why the latest year produced far more cash than its net income of $136M alone would suggest, which matters because internally generated cash is what actually funds debt service and reinvestment.

The balance-sheet posture is improving: debt-to-equity fell from 1.7x to 0.8x over two years as equity rebuilt. Cash reached $710M and the current ratio was 2.0x, giving the company more room to handle near-term obligations without leaning as heavily on external financing.

Profitability is less sturdy than cash generation: net margin fell from 3.5% to 2.2% in the latest year, so more revenue is not flowing through to shareholders at the same rate. Because interest expense also declined to $55M, the squeeze appears more tied to the operating cost structure than to borrowing costs.

Financial Health Signals

Financial health score not available

Ardent Health does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

Ardent Health passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.46x

For every $1 of reported earnings, Ardent Health generates $3.46 in operating cash flow ($470.5M OCF vs $135.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.3B

YoY+6.0%

Ardent Health generated $6.3B in revenue in fiscal year 2025. This represents an increase of 6.0% from the prior year.

Net Income

$135.8M

YoY-35.4%

Ardent Health reported $135.8M in net income in fiscal year 2025. This represents a decrease of 35.4% from the prior year.

EPS (Diluted)

$0.96

YoY-39.2%

Ardent Health earned $0.96 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 39.2% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$709.6M

YoY+27.4%

Ardent Health held $709.6M in cash against $1.1B in long-term debt as of fiscal year 2025.

Shares Outstanding

143M

YoY+0.1%

Ardent Health had 143M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Net Margin

2.1%

YoY-1.4pp

Ardent Health's net profit margin was 2.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.4 percentage points from the prior year.

Return on Equity

10.5%

YoY-8.0pp

Ardent Health's ROE was 10.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.0 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

ARDT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARDT annual income statement

Metric	TTM	FY25	FY24	FY23	FY22
Revenue	$6.4B	$6.3B+6.0%	$6.0B+10.3%	$5.4B+5.5%	$5.1B
SG&A Expenses	$183.1M	$140.8M+6.3%	$132.4M+15.5%	$114.6M+52.2%	$75.3M
Interest Expense	$51.1M	$55.2M-15.8%	$65.6M-11.7%	$74.3M	N/A
Income Tax	$39.3M	$56.2M-11.3%	$63.4M+179.9%	$22.6M-50.9%	$46.1M
Net Income	$78.2M	$135.8M-35.4%	$210.3M+290.2%	$53.9M-71.5%	$188.9M
EPS (Diluted)	—	$0.96-39.2%	$1.58+267.4%	$0.43-71.3%	$1.50

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$1.6B+1.3%	$1.6B-0.2%	$1.6B+1.8%	$1.6B-4.2%	$1.6B+9.9%	$1.5B-6.8%	$1.6B+10.8%	$1.4B
SG&A Expenses	$61.2M+25.9%	$48.6M+32.1%	$36.8M+0.8%	$36.5M+12.0%	$32.6M-6.6%	$34.9M-4.9%	$36.7M+8.9%	$33.7M
Interest Expense	$12.6M+2.9%	$12.2M-1.4%	$12.4M-11.0%	$13.9M-5.5%	$14.7M+3.9%	$14.2M+4.8%	$13.5M-7.5%	$14.6M
Income Tax	$8.5M-47.1%	$16.1M-11.1%	$18.1M+631.1%	-$3.4M-113.0%	$26.3M+72.6%	$15.2M-42.2%	$26.4M+138.2%	$11.1M
Net Income	$16.9M-57.6%	$39.9M-11.4%	$45.0M+291.5%	-$23.5M-132.2%	$73.0M+76.3%	$41.4M-63.8%	$114.2M+333.9%	$26.3M
EPS (Diluted)	$0.12-57.1%	$0.28	N/A	-$0.17-132.7%	$0.52+79.3%	$0.29	N/A	$0.19

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

ARDT Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARDT annual balance sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$5.3B+6.7%	$5.0B+4.7%	$4.7B	N/A
Current Assets	$2.1B+12.3%	$1.8B+13.3%	$1.6B	N/A
Cash & Equivalents	$709.6M+27.4%	$556.8M+27.2%	$437.6M-4.1%	$456.1M
Inventory	$118.6M+3.0%	$115.1M+9.1%	$105.5M	N/A
Accounts Receivable	$686.1M-7.7%	$743.0M-4.2%	$775.5M	N/A
Goodwill	$879.5M+3.2%	$852.1M+0.9%	$844.7M0.0%	$844.7M
Total Liabilities	$3.6B+5.0%	$3.4B-5.9%	$3.6B	N/A
Current Liabilities	$1.0B+10.7%	$945.4M-4.9%	$994.1M	N/A
Long-Term Debt	$1.1B-0.9%	$1.1B-7.1%	$1.2B	N/A
Total Equity	$1.3B+13.8%	$1.1B+68.6%	$670.9M-35.5%	$1.0B
Retained Earnings	$501.6M+37.1%	$365.8M+135.3%	$155.5M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$5.3B+0.5%	$5.3B-0.7%	$5.3B+2.6%	$5.2B+2.5%	$5.0B+2.4%	$4.9B-0.9%	$5.0B+3.3%	$4.8B
Current Assets	$2.1B+1.7%	$2.0B-1.9%	$2.1B+5.2%	$2.0B+4.3%	$1.9B+6.6%	$1.8B-3.9%	$1.8B+8.4%	$1.7B
Cash & Equivalents	$724.5M+18.8%	$609.7M-14.1%	$709.6M+16.4%	$609.4M+12.7%	$540.6M+9.2%	$495.0M-11.1%	$556.8M-1.1%	$563.1M
Inventory	$116.0M-3.2%	$119.8M+1.0%	$118.6M-2.5%	$121.6M+2.7%	$118.4M-1.6%	$120.4M+4.6%	$115.1M+6.3%	$108.2M
Accounts Receivable	$696.0M+1.5%	$686.0M0.0%	$686.1M-5.9%	$729.4M-3.9%	$758.6M-2.3%	$776.5M+4.5%	$743.0M+5.3%	$705.7M
Goodwill	$879.3M0.0%	$879.3M0.0%	$879.5M+0.2%	$877.5M0.0%	$877.7M+0.1%	$876.6M+2.9%	$852.1M0.0%	$852.0M
Total Liabilities	$3.5B+0.5%	$3.5B-2.3%	$3.6B+2.3%	$3.5B+4.2%	$3.4B+1.0%	$3.3B-2.5%	$3.4B+0.6%	$3.4B
Current Liabilities	$976.3M+2.6%	$951.5M-9.1%	$1.0B+11.0%	$943.2M+7.1%	$880.9M+6.1%	$830.1M-12.2%	$945.4M+6.5%	$887.3M
Long-Term Debt	$1.1B0.0%	$1.1B-0.3%	$1.1B-1.0%	$1.1B-0.3%	$1.1B0.0%	$1.1B+0.4%	$1.1B+0.2%	$1.1B
Total Equity	$1.4B+1.0%	$1.3B+3.8%	$1.3B+4.0%	$1.2B-1.3%	$1.3B+6.8%	$1.2B+3.9%	$1.1B+12.5%	$1.0B
Retained Earnings	$558.4M+3.1%	$541.5M+7.9%	$501.6M+9.8%	$456.7M-4.9%	$480.1M+17.9%	$407.2M+11.3%	$365.8M+45.4%	$251.6M

ARDT Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARDT annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22
Operating Cash Flow	$514.3M	$470.5M+49.4%	$315.0M+42.1%	$221.7M+678.0%	-$38.4M
Investing Cash Flow	-$211.9M	-$214.2M+2.8%	-$220.5M-59.8%	-$138.0M-396.2%	$46.6M
Financing Cash Flow	-$118.5M	-$103.5M-519.9%	$24.6M+124.1%	-$102.3M+62.2%	-$270.3M
Dividends Paid	N/A	N/A	$0	$0-100.0%	$174.8M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$196.7M+426.7%	-$60.2M-127.0%	$223.4M+44.7%	$154.4M+31.4%	$117.5M+574.0%	-$24.8M-120.7%	$119.6M+33.3%	$89.7M
Investing Cash Flow	-$39.2M-40.4%	-$27.9M+67.6%	-$86.2M-47.1%	-$58.6M-26.8%	-$46.2M-100.0%	-$23.1M+78.1%	-$105.4M-136.9%	-$44.5M
Financing Cash Flow	-$42.8M-262.9%	-$11.8M+68.2%	-$37.0M-37.6%	-$26.9M-4.9%	-$25.7M-85.5%	-$13.8M+32.5%	-$20.5M-111.2%	$183.4M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

ARDT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

ARDT annual financial ratios

Metric	FY25	FY24	FY23	FY22
Net Margin	2.1%-1.4pp	3.5%+2.5pp	1.0%-2.7pp	3.7%
Return on Equity	10.5%-8.0pp	18.6%+10.6pp	8.0%-10.1pp	18.2%
Return on Assets	2.6%-1.7pp	4.2%+3.1pp	1.1%	N/A
Current Ratio	1.970.0x	1.94+0.3x	1.63	N/A
Debt-to-Equity	0.84-0.1x	0.96-0.8x	1.74	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Net Margin	1.0%-1.4pp	2.5%-0.3pp	2.8%+4.3pp	-1.5%-5.9pp	4.4%+1.7pp	2.8%-4.3pp	7.1%+5.3pp	1.8%
Return on Equity	1.3%-1.7pp	3.0%-0.5pp	3.5%+5.4pp	-1.9%-7.7pp	5.8%+2.3pp	3.5%-6.6pp	10.1%+7.5pp	2.6%
Return on Assets	0.3%-0.4pp	0.8%-0.1pp	0.9%+1.3pp	-0.5%-1.9pp	1.5%+0.6pp	0.8%-1.5pp	2.3%+1.8pp	0.5%
Current Ratio	2.100.0x	2.12+0.2x	1.97-0.1x	2.08-0.1x	2.130.0x	2.12+0.2x	1.940.0x	1.91
Debt-to-Equity	0.790.0x	0.800.0x	0.840.0x	0.880.0x	0.87-0.1x	0.930.0x	0.96-0.1x	1.08

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

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Where Ardent Health Ranks

Frequently Asked Questions

What is Ardent Health's annual revenue?

Ardent Health (ARDT) reported $6.3B in total revenue for fiscal year 2025. This represents a 6.0% 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 6.0% year-over-year, from $6.0B to $6.3B in fiscal year 2025.

Is Ardent Health profitable?

Yes, Ardent Health (ARDT) reported a net income of $135.8M in fiscal year 2025, with a net profit margin of 2.1%.

How much debt does Ardent Health have?

As of fiscal year 2025, Ardent Health (ARDT) had $709.6M 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 2.1% in fiscal year 2025, 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 10.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ardent Health's operating cash flow?

Ardent Health (ARDT) generated $470.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ardent Health's total assets?

Ardent Health (ARDT) had $5.3B in total assets as of fiscal year 2025, 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 2025.

What is Ardent Health's current ratio?

Ardent Health (ARDT) had a current ratio of 1.97 as of fiscal year 2025, which is generally considered healthy.

What is Ardent Health's debt-to-equity ratio?

Ardent Health (ARDT) had a debt-to-equity ratio of 0.84 as of fiscal year 2025, 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 2.6% for fiscal year 2025, 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 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 3.46x, 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.