Publicly traded for-profit health systems posted double-digit operating margins in the second quarter of 2025, while many nonprofit systems hovered closer to break-even. Below is a ranking of 25 health systems based on their operating margins for the most recent quarter. Editor’s note: This is not an exhaustive list. The following financial results are for the three months ending June 30. 

1. Community Health Systems (Franklin, Tenn.)

Revenue: $3.13 billion  Expenses: $2.6 billion  Operating income: $512 million  Operating margin: 16.3% 

2. Tenet Healthcare (Dallas)

Revenue: $5.3 billion  Expenses: $4.5 billion Operating income: $823 million  Operating margin: 15.6%

3. HCA Healthcare (Nashville, Tenn.)

Revenue: $18.6 billion  Expenses: $16.2 billion Operating income: $2.4

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