Ardent Health Partners, Inc. (ARDT)
NYSE:ARDT
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Ardent Health Partners, Inc.
(NYSE:ARDT)
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Rating:64Neutral
Price Target:
$10.50
▲(5.95% Upside)
Action:Reiterated
Date:06/05/26
The score is driven by improved balance-sheet risk and a strong, margin-expanding Q1 earnings narrative with reaffirmed guidance, tempered by low/volatile profitability and only moderate cash conversion. Technically, the stock is in a clear downtrend with weak momentum, while valuation is supportive due to a low P/E.
Positive Factors
Improved leverage and balance sheet
Material deleveraging to ~0.70x TTM markedly reduces refinancing and liquidity risk, increasing financial flexibility. Over 2–6 months this supports capital allocation for growth, withstands reimbursement shocks, and lowers interest burden, strengthening long-term solvency and credit optionality.
Negative Factors
Thin and volatile profitability
Persistently low net margins (~2%) and uneven ROE limit the firm's ability to absorb cost inflation or pay for growth. Over the medium term, thin profitability constrains retained earnings, reduces resilience to reimbursement shifts, and increases sensitivity to episodic expense shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage and balance sheet
Material deleveraging to ~0.70x TTM markedly reduces refinancing and liquidity risk, increasing financial flexibility. Over 2–6 months this supports capital allocation for growth, withstands reimbursement shocks, and lowers interest burden, strengthening long-term solvency and credit optionality.
Read all positive factors
Ardent Health Partners, Inc. (ARDT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.28B
Dividend YieldN/A
Average Volume (3M)574.74K
Price to Earnings (P/E)9.4
Beta (1Y)0.61
Revenue Growth6.72%
EPS Growth-39.63%
CountryUS
Employees19,200
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.95
Shares Outstanding143,350,040
10 Day Avg. Volume739,593
30 Day Avg. Volume574,735
Financial Highlights & Ratios
PEG Ratio-0.23
Price to Book (P/B)0.74
Price to Sales (P/S)0.20
P/FCF Ratio4.81
Enterprise Value/Market Cap2.33
Enterprise Value/Revenue0.46
Enterprise Value/Gross Profit0.93
Enterprise Value/Ebitda5.89
Forecast
1Y Price Target
$12.36Price Target Upside24.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)1.12
Revenue Forecast (FY)$6.55B
Ardent Health Partners, Inc. Business Overview & Revenue Model
Company Description
Operating a vast network of hospitals and clinics throughout the United States, Ardent Health Partners, LLC delivers a diverse array of healthcare services. Its portfolio notably includes acute care facilities, alongside specialized rehabilitation...
How the Company Makes Money
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Ardent Health Partners, Inc. Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call conveyed predominantly positive operational and financial momentum: solid top-line growth (+7% revenue), strong adjusted EBITDA improvement (+26%, or +15% excluding a one-time investment gain), meaningful margin expansion (110 bps), demonstrable cost and labor discipline (contract labor down >40%, SW&B per AA improvements), and healthy liquidity and leverage metrics. Management acknowledged near-term volume headwinds from weather and lighter flu, exchange-related revenue pressure (~$35M estimated headwind), higher professional fees and medical malpractice premium increases, and ongoing denial-management work. On balance, the positive execution against the IMPACT program, margin gains, cash/liquidity strength, and disciplined growth initiatives outweigh the noted challenges.Positive Updates
Revenue Growth
First quarter revenue of $1.6 billion, up 7% year-over-year.
Negative Updates
Transient Volume Softness and Weather Impact
Admissions decreased 1.1% in Q1 (while adjusted admissions rose 2%); severe winter storms in Texas, Oklahoma and New Jersey and a light respiratory/flu season caused transient disruption to seasonal patterns and some fewer admissions.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
First quarter revenue of $1.6 billion, up 7% year-over-year.
Read all positive updates
Company Guidance
Management reaffirmed full‑year revenue and adjusted EBITDA guidance and reiterated adjusted admissions guidance of 1.5%–2.5% for 2026 (Q1 adjusted admissions +2.0%; total admissions -1.1%), while confirming the IMPACT program is on track to deliver $55 million of savings. Q1 highlights: revenue $1.6B (+7%), adjusted EBITDA $124M (+26%; +15% excluding a $10.9M pre‑tax investment gain), adjusted EBITDA margin 7.7% (+110 bps), pre‑NCI adjusted EBITDAR margin 11.5% (+100 bps), total surgeries +1.2% (outpatient +1.7%). Operational progress: SW&B per AA down 1.4% and SW&B as a % of revenue improved 260 bps, supply expense per AA +1.7% but supply as a % of revenue improved 50 bps, contract labor down >40% to $15M (2.2% of SW&B vs 3.8% a year ago), average hourly rate per FTE +1% YoY. Liquidity and leverage: cash $610M, total debt $1.1B, available liquidity $0.9B, Q1 cash used in ops $60M, capex $28M (expected to ramp), net leverage 1.0x and lease‑adjusted net leverage 2.6x (vs 3.0x a year ago). Management also reiterated the previously disclosed ~$35M exchange EBITDA headwind, noted exchange admissions were up ~1–2% with a ~12% shift from silver to bronze, and said professional fees are tracking to plan but should moderate to high‑single digits in the back half.Ardent Health Partners, Inc. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
63
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2018 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.43B | 6.32B | 5.97B | 5.41B | 5.13B | 4.16B |
| Gross Profit | 3.20B | 6.17B | 4.93B | 5.27B | 4.17B | 4.16B |
| EBITDA | 505.75M | 497.26M | 574.93M | 350.00M | 531.70M | 245.75M |
| Net Income | 134.28M | 135.81M | 210.34M | 50.29M | 188.91M | -143.02M |
Balance Sheet | ||||||
| Total Assets | 5.25B | 5.29B | 4.96B | 5.10B | 4.86B | 2.75B |
| Cash, Cash Equivalents and Short-Term Investments | 609.69M | 709.60M | 556.78M | 437.58M | 456.12M | 59.66M |
| Total Debt | 2.29B | 2.26B | 2.28B | 2.40B | 2.39B | 1.26B |
| Total Liabilities | 3.52B | 3.61B | 3.43B | 4.02B | 3.81B | 2.03B |
| Stockholders Equity | 1.73B | 1.69B | 1.13B | 670.90M | 639.05M | 331.64M |
Cash Flow | ||||||
| Free Cash Flow | 213.81M | 258.61M | 127.52M | 84.29M | -189.47M | -1.07M |
| Operating Cash Flow | 430.89M | 470.51M | 315.03M | 221.70M | -38.36M | 159.59M |
| Investing Cash Flow | -219.01M | -214.23M | -220.46M | -137.98M | 46.58M | -482.14M |
| Financing Cash Flow | -98.85M | -103.47M | 24.64M | -102.26M | -270.33M | 353.22M |
Ardent Health Partners, Inc. Technical Analysis
Negative
9.91
Price Trends
9.54
Negative
9.28
Negative
10.35
Negative
Market Momentum
-0.10
Negative
44.50
Neutral
56.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ARDT, the sentiment is Negative. The current price of 9.91 is above the 20-day moving average (MA) of 9.14, above the 50-day MA of 9.54, and below the 200-day MA of 10.35, indicating a bearish trend. The MACD of -0.10 indicates Negative momentum. The RSI at 44.50 is Neutral, neither overbought nor oversold. The STOCH value of 56.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ARDT.
Ardent Health Partners, Inc. Risk Analysis
Ardent Health Partners, Inc. disclosed 55 risk factors in its most recent earnings report. Ardent Health Partners, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ardent Health Partners, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $3.15B | 25.33 | 11.68% | 1.80% | 11.40% | 13.96% | |
64 Neutral | $1.28B | 9.37 | 9.08% | ― | 6.72% | -39.63% | |
63 Neutral | $1.70B | 6.39 | 241.47% | ― | 20.49% | 4335.46% | |
62 Neutral | $2.05B | 15.30 | 7.83% | 1.69% | -10.76% | -20.86% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $2.29B | -2.03 | -43.82% | ― | 6.80% | -698.20% | |
47 Neutral | $3.26B | -15.89 | 9999.00% | ― | -0.36% | 16.69% |
* Healthcare Sector Average
ARDT
Ardent Health Partners, Inc.
8.91
-4.13
-31.67%
ACHC
Acadia Healthcare
24.87
3.31
15.35%
BKD
Brookdale Senior Living
13.65
6.83
100.15%
NHC
National Healthcare
201.53
98.72
96.03%
SEM
Select Medical
16.54
1.96
13.45%
AVAH
Aveanna Healthcare Holdings
7.79
3.07
65.04%
Ardent Health Partners, Inc. Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Ardent Health Names Dave Caspers CEO Amid Transformation
Positive
Jun 2, 2026
On June 2, 2026, Ardent Health appointed former Chief Operating Officer Dave Caspers as President and Chief Executive Officer and to its board, succeeding Marty Bonick, who stepped down to pursue other opportunities. Caspers, a veteran of Walmart ...
Executive/Board ChangesShareholder Meetings
Ardent Health Stockholders Back Board, Pay and Auditor
Positive
May 26, 2026
At its Annual Meeting of Stockholders held on May 20, 2026, Ardent Health, Inc. reported that holders of 98,778,826 shares were represented in person or by proxy, and stockholders elected 11 director nominees to the company’s board, with eac...
Executive/Board Changes
Ardent Health Announces Leadership Change in Hospital Services
Neutral
Mar 27, 2026
On March 24, 2026, Ardent Health, Inc. announced that Ethan Chernin would no longer serve as President, Hospital Services and that he departed the company effective that day. The departure was classified as a “Qualifying Termination” u...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.