Start here if you're new
what it is
It runs 76 hospitals and more than 1,000 care sites across the U.S.
how it gets paid
Last year Community Health made $12.5B in revenue. Inpatient care was the main engine at $9.2B, or 74% of sales.
why growth slowed
Revenue fell 1.2% last year. The number that mattered was $9.4B in revenue.
what just happened
Revenue hit $9.4B and EPS landed at $2.97.
At a glance
C balance sheet — red flag territory — real financial stress
5/100 earnings predictability — expect surprises
1.3x trailing p/e — the market's not buying it — or you found a deal
2.8% return on capital — nothing to write home about
-$3.90 fy2024 eps est
xvary composite: 24/100 — weak
What they do
It runs 76 hospitals and more than 1,000 care sites across the U.S.
You get a hospital footprint that local patients already know. That means 76 hospitals, 11,000 licensed beds, and more than 1,000 sites of care. Translation: local access → fewer reasons to leave → your doctor, your referral, and your bill all stay inside the system.
How they make money
$12.5B
annual revenue · their business grew -1.2% last year
Inpatient care
$9.2B
1.2%
Outpatient surgery
$1.7B
+1.0%
Physician practices
$1.0B
+3.0%
Other services
$0.6B
0.0%
The products that matter
acute-care hospital operations
General Acute Care Hospitals
69 hospitals · 10,000+ beds
this is the core business: 69 hospitals with more than 10,000 beds generated $3.1B of Q4 2025 revenue. You are still buying a hospital operator, even if the balance sheet gets more attention than the hospitals.
core asset base
non-hospital care network
Outpatient & Ambulatory Sites
1,000+ sites · 54% of revenue
more than 1,000 outpatient sites now make up 54% of revenue. That's the bigger revenue bucket, but it has not been enough to offset the drag from divestitures and leverage.
majority of revenue
asset sales for debt reduction
Hospital Divestiture Program
8 sold in 2023 · 2 in 2024
eight facilities were sold in 2023, two more in 2024, and four Arkansas hospitals were under agreement for sale in March 2026. That's not a side project. It's how management is trying to keep the capital structure from dictating everything.
shrink to survive
Key numbers
$12.5B
annual revenue
You are buying a $12.5B revenue business for a $444M market cap. That gap tells you the market is pricing in a lot of pain.
$11.1B
long-term debt
Debt is bigger than the stock by a wide margin. That leaves less room for mistakes and more room for lenders to matter.
10.5%
operating margin
You keep about 10.5 cents of every revenue dollar before interest and taxes. That is decent for hospitals, but not generous for a leveraged balance sheet.
2.8%
return on capital
Each $100 put into the business earns about $2.80 in operating profit. That is not a machine you buy for easy compounding.
Financial health
C
strength
- balance sheet grade C — very weak — significant financial distress
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $11.1B (96% of capital)
C — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for CYH right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $9.4B and EPS landed at $2.97.
Revenue was up 204% vs. prior year, and EPS was up 209% vs. prior year. The math looks dramatic because the comparison base was weak and the portfolio keeps changing.
$9.4B
revenue
$2.97
eps
n/a
n/a
the number that mattered
The number that mattered was $9.4B in revenue, because it shows the system still moves hospital-scale cash even after a 1.2% annual revenue decline.
source: company earnings report, 2026
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What could go wrong
the #1 risk is deleveraging that fails to outrun business shrinkage.
med
$11.1B debt load
Long-term debt is $11.1B, or 96% of capital, against a market cap of roughly $444M. That's a capital structure that leaves very little room for operating mistakes.
If revenue slips or asset sales disappoint, the pressure shows up fast because debt service gets paid before equity holders get anything.
med
revenue declines tied to hospital sales
Management guided to $11.6B–$12.0B of 2026 revenue, below the roughly $12.5B base, because the company keeps selling hospitals. CYH is intentionally getting smaller.
That strategy can reduce leverage, but it also removes future cash flow. You need debt paydown to matter more than lost operating earnings.
med
regulatory friction on asset sales
The FTC blocked a $320M hospital sale to Novant Health in 2024. That shows regulators can interfere directly with transactions management may be counting on.
CYH does not just face ordinary healthcare regulation. It faces deal execution risk on the very tool it is using to repair the balance sheet.
A failed divestiture or a revenue line below the $11.6B–$12.0B guide would hit the same thesis from two sides: less cash in, and too much debt still standing.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
q1 2026 earnings report
Estimated for April 22, 2026. You want the revenue decline to stay explainable and the deleveraging message to stay concrete.
metric
2026 revenue against the $11.6B–$12.0B guide
This is the number that tells you whether shrinkage is controlled or just deterioration wearing a tie.
deal risk
closing of the four arkansas hospital sale
The March 5, 2026 agreement matters because CYH needs proceeds, not just announcements.
trend
outpatient mix holding above inpatient
Outpatient is 54% of revenue today. If that mix weakens while hospitals are sold, the operating story gets even thinner.
Analyst rankings
earnings predictability
5 / 100
In human-speak, analysts do not trust this earnings stream to behave like a normal operating business.
risk profile
5
Safer than about 5% of stocks. That's another way of saying most public companies look sturdier than this one.
source: institutional data
Institutional activity
institutional ownership data for CYH is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
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