SOLV vs. THC: Solventum vs. Tenet Healthcare Stock Comparison

November 11, 2026

How do Solventum (SOLV) and Tenet Healthcare (THC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Solventum (SOLV) and Tenet Healthcare (THC) both fall under the Health Care Equipment & Services industry group, but SOLV is classified in Health Care Equipment & Supplies while THC is classified in Health Care Providers & Services.

Tenet Healthcare (THC) carries decades of public-market history since March 17, 1980, while Solventum (SOLV) listed on March 26, 2024 — long-window comparisons have far more historical data on the THC side.

Company profile comparison for Solventum (SOLV) and Tenet Healthcare (THC)
Profile Item	SOLV	THC
Name	Solventum Corporation	Tenet Healthcare Corp.
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies	Health Care Providers & Services
GICS Sub-Industry	Health Care Supplies	Health Care Facilities
Market Capitalization	15.36 billion USD	22.55 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 26, 2024	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

SOLV

THC

GSPC

Solventum (SOLV) vs. Tenet Healthcare (THC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Solventum (SOLV) and Tenet Healthcare (THC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Solventum (SOLV) and Tenet Healthcare (THC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
Total Return (1Y)	25.89%	43.40%
Total Return (3Y, Annualized)	--	77.47%
Total Return (5Y, Annualized)	--	29.92%

Risk Profile

Drawdown History

SOLV

THC

GSPC

Solventum (SOLV) vs. Tenet Healthcare (THC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Solventum (SOLV) and Tenet Healthcare (THC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
Volatility (1Y, Annualized)	30.06%	43.80%
Beta (5Y)	0.62	1.17
Max Drawdown (5Y)	-39.98%	-58.88%
Avg. Volume (3M)	1.05M	768.24K

Risk-Adjusted Performance

Risk-Return Positioning

SOLV and THC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
Sharpe Ratio (1Y)	0.72	0.89
Sortino Ratio (1Y)	1.08	1.71

Profitability

ROE (TTM)

Tenet Healthcare (THC) at 41.70% sits in the top ROE quartile, while Solventum (SOLV) at 3.19% is closer to the peer norm — stronger capital efficiency for THC.

SOLV

Health Care Equipment & Services industry group

3.19%

Max: 47.61%
Q3: 14.36%
Median: 5.45%
SOLV: 3.19%
Q1: -10.67%
Min: -47.01%

THC

Health Care Equipment & Services industry group

41.70%

Max: 47.61%
THC: 41.70%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Tenet Healthcare (THC) at 13.09% retains a top-quartile share of revenue as profit, ahead of Solventum (SOLV) at 1.91%, which keeps about the industry-typical share.

SOLV

Health Care Equipment & Services industry group

1.91%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
SOLV: 1.91%
Q1: -6.29%
Min: -28.46%

THC

Health Care Equipment & Services industry group

13.09%

Max: 29.35%
THC: 13.09%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Tenet Healthcare (THC) at 19.04% operates in the top operating margin quartile, ahead of Solventum (SOLV) at 6.82%, which runs around its industry’s norm.

SOLV

Health Care Equipment & Services industry group

6.82%

Max: 35.43%
Q3: 14.14%
SOLV: 6.82%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

THC

Health Care Equipment & Services industry group

19.04%

Max: 35.43%
THC: 19.04%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
ROE (TTM)	3.19%	41.70%
ROA (TTM)	2.29%	8.68%
Net Margin (TTM)	1.91%	13.09%
Operating Margin (TTM)	6.82%	19.04%
Gross Margin (TTM)	55.13%	42.47%

Growth

Revenue Growth

Both Solventum (SOLV) at 0.86% and Tenet Healthcare (THC) at 3.07% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Solventum (SOLV) at 221.74% delivers above-range EPS growth, while Tenet Healthcare (THC) at -52.63% falls into the bottom quartile — a wide split in earnings momentum.

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
Revenue Growth (YoY)	0.86%	3.07%
Revenue Growth (3Y CAGR)	0.79%	3.58%
EPS Growth (YoY)	221.74%	-52.63%
EPS Growth (3Y CAGR)	4.51%	59.88%

Financial Strength

Current Ratio (MRQ)

Tenet Healthcare (THC) at 1.59 keeps current ratio within its industry’s typical mid-range, while Solventum (SOLV) at 1.03 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for SOLV.

SOLV

Health Care Equipment & Services industry group

1.03

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
SOLV: 1.03
Min: 0.30

THC

Health Care Equipment & Services industry group

1.59

Max: 7.59
Q3: 4.00
Median: 1.98
THC: 1.59
Q1: 1.37
Min: 0.30

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Both Solventum (SOLV) at 1.10 and Tenet Healthcare (THC) at 1.38 lean more heavily on debt funding than most peers, landing in the higher-leverage quartile of their industries.

SOLV

Health Care Equipment & Services industry group

1.10

Max: 1.88
SOLV: 1.10
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00

THC

Health Care Equipment & Services industry group

1.38

Max: 1.88
THC: 1.38
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
Current Ratio (MRQ)	1.03	1.59
Debt / Equity (MRQ)	1.10	1.38
Net Debt / EBITDA	4.66	2.06

Dividends

Dividend Yield (TTM)

Neither Solventum (SOLV) nor Tenet Healthcare (THC) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

SOLV

Health Care Equipment & Services industry group

0.00%

SOLV: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

THC

Health Care Equipment & Services industry group

0.00%

THC: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Solventum (SOLV) nor Tenet Healthcare (THC) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

SOLV

Health Care Equipment & Services industry group

0.00%

SOLV: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

THC

Health Care Equipment & Services industry group

0.00%

THC: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Tenet Healthcare (THC) at 8.26 sits in the cheaper P/E ratio quartile, while Solventum (SOLV) at 101.55 trades above its peer range — a wide earnings-valuation gap relative to industry peers.

SOLV

Health Care Equipment & Services industry group

101.55

SOLV: 101.55
Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21

THC

Health Care Equipment & Services industry group

8.26

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
THC: 8.26
Min: 4.21

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Tenet Healthcare (THC) at 1.02 sits in the cheaper P/S ratio quartile while Solventum (SOLV) at 1.88 prices around its industry’s middle — THC costs less per dollar of sales, though read it alongside growth and margins.

SOLV

Health Care Equipment & Services industry group

1.88

Max: 8.80
Q3: 4.32
Median: 2.13
SOLV: 1.88
Q1: 1.10
Min: 0.03

THC

Health Care Equipment & Services industry group

1.02

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
THC: 1.02
Min: 0.03

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Solventum (SOLV) at 3.20 and Tenet Healthcare (THC) at 4.14 are valued close to their industries’ norm against book — neither stands out from peers.

SOLV

Health Care Equipment & Services industry group

3.20

Max: 11.68
Q3: 6.12
SOLV: 3.20
Median: 3.00
Q1: 1.73
Min: -1.31

THC

Health Care Equipment & Services industry group

4.14

Max: 11.68
Q3: 6.12
THC: 4.14
Median: 3.00
Q1: 1.73
Min: -1.31

Solventum (SOLV) vs. Tenet Healthcare (THC): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Solventum (SOLV) and Tenet Healthcare (THC)
Metric	SOLV	THC
P/E Ratio (TTM)	101.55	8.26
P/S Ratio (TTM)	1.88	1.02
P/B Ratio (MRQ)	3.20	4.14
Free Cash Flow Yield (TTM)	1.31%	8.99%