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

Community Health Systems Inc (CYH)

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

F · Poor — capital at risk

Forensic grade

Distress

Financial health

0.4

Distress distance

Clean

Earnings quality

Forensic signals

1.7

P / E (ttm)

$423M

Market cap

-1.2%

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.

Community Health Systems Inc earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 0.4, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.

What the filings flag

+1.3%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +4% over the last 3 years to FY2025 (+1.3%/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 ~1.3% 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 FY2022 has been diluted ~4%.

FCF ($32M)

FY2015

Shareholder returns. Returned $159M to shareholders (buybacks + dividends) in FY2015, but free cash flow was ($32M) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $921M — 17% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.

12.5%

FY2025

Return on invested capital. Return on invested capital is 12.5% in the latest fiscal year and rising from 4% — a modest positive spread over its ~10% cost of capital — growth adds value, though not dramatically.

Key fundamentals

Latest Revenue$12.48B

Revenue Growth YoY-1.2%

Revenue CAGR (3yr)+0.7%

Net Margin4.1%

Free Cash Flow$208.0M

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