Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026

Ardent Health, Inc. (ARDT)

A forensic read on Ardent Health, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Grey Zone

Financial health

2.4

Distress distance

Clean

Earnings quality

Forensic signals

12.5

P / E (ttm)

10.5%

ROE

$1.6B

Market cap

6.0%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Ardent Health, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.4, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

6.5%

FY2025

Return on invested capital. Return on invested capital is 6.5% in the latest fiscal year and slipping from 9% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

+6.6%/yr

FY2024–FY2025

Share-count dilution. Diluted share count changed +7% over the last 1 year to FY2025 (+6.6%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~6.6% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~6%.

Key fundamentals

Latest Revenue$6.32B

Revenue Growth YoY+6.0%

Net Margin2.1%

Return on Equity10.5%

Debt / Equity0.85x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.