Ardent Health Partners, Inc. (ARDT) Income Statement
ARDT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsARDT revenue and net income
Where ARDT's revenue goes
2025Each bar shows an amount and its share of revenue. ARDT kept 2.1% of revenue as net income.
ARDT profit margins
ARDT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.0% | +7.2% | +8.7% | — |
| Gross profit | +25.0% | +13.9% | +8.2% | — |
| Operating income | −19.8% | +14.5% | +16.8% | — |
| Net income | −35.4% | −10.4% | — | — |
| EPS (diluted) | +16.3% | +8.8% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ARDT quarterly EPS vs estimates
Ardent Health Partners beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 11, 2026 (estimate $0.24).
ARDT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.32B | $5.97B | $5.41B | $5.13B | $4.87B | $4.16B | $3.00B | $2.11B | $2.03B |
| Cost of revenue | $155.7M | $1.03B | $140.8M | $955.2M | $927.3M | $0 | $0 | $0 | $0 |
| Gross profit | $6.17B | $4.93B | $5.27B | $4.17B | $3.94B | $4.16B | $3.00B | $2.11B | $2.03B |
| Research & development | — | — | — | — | — | $15.7M | $19.9M | — | — |
| Sales, general & admin | $1.19B | $3.88B | $3.62B | $3.37B | $3.13B | $2.68B | $1.17B | $1.95B | $317.3M |
| Total operating expenses | $5.84B | $4.53B | $5.04B | $3.96B | $3.51B | $4.08B | $2.77B | $2.11B | $1.81B |
| Operating income | $325.6M | $405.8M | $229.5M | $217.0M | $436.6M | $149.8M | $121.8M | $84.8M | $126.0M |
| Interest expense | $55.2M | $65.6M | $65.4M | $82.1M | $93.8M | $108.6M | $70.7M | $26.9M | $64.0M |
| Income before taxes | $286.4M | $363.1M | $151.6M | $311.5M | $295.9M | −$114.6M | $50.6M | $44.4M | $44.8M |
| Income taxes | $56.2M | $63.4M | $22.6M | $46.1M | $51.3M | −$11.3M | $49.9M | $8.0M | $63.9M |
| Net income | $135.8M | $210.3M | $50.3M | $188.9M | $154.3M | −$143.0M | −$35.6M | $14.6M | −$46.4M |
| EBITDA | $497.3M | $574.9M | $350.0M | $531.7M | $526.9M | $245.8M | $230.9M | $142.8M | $213.8M |
| EPS (diluted) | $1.93 | $1.66 | $0.35 | $1.50 | — | −$0.30 | −$0.25 | — | −$0.61 |
| Gross margin | 97.5% | 82.7% | 97.4% | 81.4% | 81.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 5.1% | 6.8% | 4.2% | 4.2% | 9.0% | 3.6% | 4.1% | 4.0% | 6.2% |
| Net margin | 2.1% | 3.5% | 0.9% | 3.7% | 3.2% | −3.4% | −1.2% | 0.7% | −2.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.62B | $1.60B | $1.61B | $1.58B | $1.65B | $1.50B | $1.61B | $1.45B | $1.47B | $1.44B | $1.35B | $1.38B |
| Cost of revenue | $1.53B | $1.36B | $928.9M | $677.0M | $270.6M | $258.9M | $654.0M | $251.9M | $259.4M | $257.8M | $598.1M | $595.6M |
| Gross profit | $97.1M | $246.1M | $676.2M | $899.8M | $1.37B | $1.24B | $952.3M | $1.20B | $1.21B | $1.18B | $747.9M | $782.1M |
| Sales, general & admin | $394.5M | $317.1M | $376.2M | $645.5M | $1.03B | $1.00B | $615.5M | $973.1M | $957.9M | $948.3M | $576.0M | $557.0M |
| Total operating expenses | $53.9M | $165.2M | $571.4M | $645.5M | $1.24B | $1.17B | $615.5M | $1.13B | $1.37B | $1.11B | $576.0M | $557.0M |
| Operating income | $43.2M | $80.9M | $104.8M | $254.3M | $137.3M | $67.1M | $336.8M | $70.4M | −$157.4M | $75.8M | $171.9M | $225.1M |
| Interest expense | $12.6M | $10.7M | $12.4M | $13.9M | $14.7M | $14.2M | $13.5M | $14.6M | $18.2M | $17.0M | $9.6M | $19.0M |
| Income before taxes | $43.2M | $74.6M | $92.4M | −$2.2M | $122.0M | $74.2M | $167.2M | $57.1M | $82.2M | $56.6M | $8.8M | $46.0M |
| Income taxes | $8.5M | $16.1M | $18.1M | −$3.4M | $26.3M | $15.2M | $26.4M | $11.1M | $15.2M | $10.7M | −$2.0M | $7.3M |
| Net income | $16.9M | $39.9M | $45.0M | −$23.5M | $73.0M | $41.4M | $114.2M | $26.3M | $42.8M | $27.0M | −$4.2M | $20.8M |
| EBITDA | $72.0M | $128.3M | $145.8M | $55.6M | $176.0M | $124.6M | $195.4M | $108.5M | $136.7M | $109.0M | $62.2M | $100.5M |
| EPS (diluted) | $0.12 | $0.30 | $0.36 | $0.83 | $0.55 | $0.19 | $0.81 | $0.24 | $0.40 | $0.21 | — | — |
| Gross margin | 6.0% | 15.4% | 42.1% | 57.1% | 83.6% | 82.7% | 59.3% | 82.6% | 82.4% | 82.1% | 55.6% | 56.8% |
| Operating margin | 2.7% | 5.1% | 6.5% | 16.1% | 8.3% | 4.5% | 21.0% | 4.9% | −10.7% | 5.3% | 12.8% | 16.3% |
| Net margin | 1.0% | 2.5% | 2.8% | −1.5% | 4.4% | 2.8% | 7.1% | 1.8% | 2.9% | 1.9% | −0.3% | 1.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ARDT's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ARDT financial results
In fiscal year 2025 (ended December 31, 2025), Ardent Health Partners reported revenue of $6.3 billion, up 6.0% from the year before. It had net income of $135.8 million (down 35.4%), a net profit margin of 2.1%. Diluted earnings per share came to $1.93. Over five years revenue grew at an average rate of 8.7% a year.
See the ARDT stock overview for the latest quote and news, or the ARDT chart for price history and technical indicators.
ARDT income statement FAQ
What is Ardent Health Partners's annual revenue?
Ardent Health Partners reported total revenue of $6.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 6.0% from $6.0 billion the previous year.
Is Ardent Health Partners profitable?
Yes. Ardent Health Partners reported net income of $135.8 million in fiscal 2025, a net profit margin of 2.1%; its operating margin was 5.1%.
What is Ardent Health Partners's gross margin?
Ardent Health Partners's gross margin was 97.5% in fiscal 2025: for every $100 of revenue, Ardent Health Partners kept $98 after the direct cost of its products and services.
How fast is Ardent Health Partners growing?
Revenue grew 8.7% a year on average over the last five fiscal years, from $4.2 billion to $6.3 billion.
What are Ardent Health Partners's earnings per share?
Ardent Health Partners earned $1.93 per diluted share in fiscal 2025, compared with $1.66 a year earlier.
When will Ardent Health Partners report its next earnings?
Ardent Health Partners is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does Ardent Health Partners's fiscal year end?
Ardent Health Partners's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.