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Ardent Health, Inc. was initially formed in Delaware in 2015 as Ardent Health Partners, LLC. On July 17, 2024, Ardent Health Partners, LLC converted from a Delaware limited liability company into a Delaware corporation in connection with its initial public offering and changed its name to Ardent Health Partners, Inc.
Operating margin is thin at 4.53%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 6.0%, steady but not accelerating.
ROIC dropped from 11.19% to 6.51%, capital efficiency is deteriorating. Net debt of $1.63B represents 6.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$6.43B
▲ +6.0% YoY
Net Income (TTM)
$134M
▼ -35.4% YoY
Op. Margin
4.46%
▼ -1.6pp YoY
ROIC
8.46%
▼ -4.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$218M
▲ +102.8% YoY
Op. Cash Flow (TTM)
$435M
▲ +49.4% YoY
Net Debt
$524M
Cash & Equiv.
$610M
3Y CAGR: +7.2%
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