THC drawdown: 2.3% below the all-time high
Tenet Healthcare Corporation (THC) is 2.3% below its all-time high, set Jul 28, 2026 (as of market close, Aug 6, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1982).
- Below all-time high
- −2.3%
- 97.7% of ATH
- All-time high
- $262.6
- Jul 28, 2026
- Time below the high
- 9 days
- since Jul 28, 2026
- Worst-ever drawdown
- −98.3%
- Mar 9, 2009
- Longest underwater
- 23.1 yrs
- between all-time highs
- Today's level first reached
- Jul 28, 2026
- 9 days ago
- Last time this deep
- Jul 24, 2026
- in a previous episode
% of all-time high since 1982#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of THC, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Oct 3, 2002 | Mar 9, 2009 | −98.3% | 6.4 yrs | Oct 24, 2025 | 23.1 yrs |
| Apr 17, 1991 | Apr 26, 1993 | −72.7% | 2.0 yrs | Jan 30, 1997 | 5.8 yrs |
| Apr 15, 1998 | Aug 17, 1999 | −61.4% | 16 mo | Nov 16, 2000 | 2.6 yrs |
| Jul 8, 1985 | Dec 10, 1987 | −50.0% | 2.4 yrs | Jun 6, 1989 | 3.9 yrs |
| Jun 24, 1983 | Jul 25, 1984 | −43.0% | 13 mo | Jul 2, 1985 | 2.0 yrs |
| Mar 4, 2026 | Jun 4, 2026 | −34.1% | 3 mo | Jul 28, 2026 | 5 mo |
| Jan 5, 1982 | Mar 12, 1982 | −30.8% | 2 mo | Aug 26, 1982 | 8 mo |
| Jan 3, 1990 | Mar 6, 1990 | −25.3% | 2 mo | Jan 18, 1991 | 12 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1982: how far THC stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: THC is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is THC from its all-time high?
- THC is currently 2.3% below its all-time high, set Jul 28, 2026 (as of market close, Aug 6, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest THC drawdown ever?
- The deepest decline on record in our data (since 1982) took the stock 98.3% below its prior high, bottoming Mar 9, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1982 (split-adjusted). "All-time" means since our price data begins — THC may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.