ARDT Ardent Health, Inc.

Overview and Growth

Ardent Health, Inc. generated $6.32B of revenue in fiscal 2025, with net income of $135.81M and an operating cash inflow of $470.51M. At $6.32B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $5.97B in fiscal 2024, revenue recorded a 6.0% year-over-year increase. Diluted earnings per share were $0.96, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $1.58 in fiscal 2024, the current result was 39.2% lower. The diluted weighted-average share count was 141.45M, linking total earnings with the per-share result received by shareholders. Total assets stood at $5.29B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 1.2x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After all reported below-operating-line items, the company recorded net income of $135.81M for the fiscal year. Net margin was 2.1%, meaning that this portion of revenue remained as net income after all recognized expenses. The earnings statement records $286.36M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 4.5%, adding a pre-tax profitability layer between revenue and net income. The company recognized $56.22M of income tax for the period, completing the transition from pretax income to net income. The effective relationship between income tax and positive pretax income was 19.6%, without assuming a statutory-rate comparison. Net income equaled 8.1% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 2.6% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Current net income of $135.81M was below fiscal 2024 net income of $210.34M, showing the direction of the bottom-line change.

Liquidity and Capital Structure

At period end, the $5.29B asset base was financed through $3.61B of liabilities and $1.69B of equity. At period end, current assets of $2.06B compared with current liabilities of $1.05B, defining the company’s short-term resource position. The current ratio was 1.97x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $709.60M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 67.8%, excluding receivables and other current assets. The company carried $1.10B of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 0.65x, showing how much debt the company carried for each unit of book equity. Debt represented 20.8% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 31.9% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 68.1% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 13.4%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 6.7% higher than fiscal 2024 assets of $4.96B, measuring the company’s own balance-sheet change. Against $1.52B of equity in fiscal 2024, the current book-equity balance moved 10.8% and ended higher. Cash and equivalents were 27.4% higher than fiscal 2024 cash of $556.78M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was $470.51M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 3.46x of net income, showing how strongly accounting earnings converted into cash from operations.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.