HCA · Hca Healthcare, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $75.60B | $70.60B | $64.97B | $60.23B | $51.53B | - |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $548.00M | $421.00M | $315.00M | $378.00M | $400.00M | $416.00M |
| Total Operating Expenses | $65.77B | $62.08B | $57.26B | $51.65B | $48.92B | $46.10B |
| D&A | $3.52B | $3.31B | $3.08B | $2.97B | $2.85B | $2.72B |
| Operating Income | $9.83B | $8.52B | $7.71B | $8.58B | $9.83B | $5.43B |
| Interest Expense | $2.25B | $2.06B | $1.94B | $1.74B | $1.57B | $1.58B |
| Income Tax | $2.05B | $1.87B | $1.61B | $1.75B | $2.11B | $1.04B |
| Net Income | $6.78B | $5.76B | $5.24B | $5.64B | $6.96B | $3.75B |
| EPS - Basic | $28.70 | $22.27 | $19.25 | $19.43 | $21.52 | $11.10 |
| EPS - Diluted | $28.33 | $22.00 | $18.97 | $19.15 | $21.16 | $10.93 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.04B | $1.93B | $935.00M | $908.00M | $1.45B | $1.79B |
| Accounts Receivable | $10.87B | $10.75B | $9.96B | $8.89B | $8.10B | $7.05B |
| Inventory | $1.65B | $1.74B | $2.02B | $2.07B | $1.99B | $2.02B |
| Accounts Payable | $4.66B | $4.28B | $4.23B | $4.24B | $4.11B | $3.54B |
| Current Assets | $15.78B | $16.41B | $14.93B | $13.64B | $13.54B | $12.33B |
| Total Assets | $60.72B | $59.51B | $56.21B | $52.44B | $50.74B | $47.49B |
| Current Liabilities | $16.35B | $15.18B | $12.65B | $9.90B | $9.58B | $8.70B |
| Long-term Debt | $41.60B | $38.33B | $37.17B | $37.71B | $34.34B | $30.80B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | ($6.03B) | ($2.50B) | ($1.77B) | ($2.77B) | ($933.00M) | $572.00M |
| Retained Earnings | ($5.72B) | ($2.12B) | ($1.35B) | ($2.28B) | ($532.00M) | $777.00M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.64B | $10.51B | $9.43B | $8.52B | $8.96B | $9.23B |
| Investing Cash Flow | ($4.99B) | ($4.93B) | ($5.32B) | ($3.39B) | ($2.64B) | ($3.39B) |
| Financing Cash Flow | ($8.55B) | ($4.58B) | ($4.09B) | ($5.66B) | ($6.66B) | ($4.68B) |
| CapEx | $4.94B | $4.88B | $4.74B | $4.39B | $3.58B | $2.83B |
| Free Cash Flow | $7.69B | $5.64B | $4.69B | $4.13B | $5.38B | $6.40B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 13.0% | 12.1% | 11.9% | 14.2% | 19.1% | - |
| EBITDA margin | 17.7% | 16.8% | 16.6% | 19.2% | 24.6% | - |
| Net margin | 9.0% | 8.2% | 8.1% | 9.4% | 13.5% | - |
| Free cash flow margin | 10.2% | 8.0% | 7.2% | 6.9% | 10.4% | - |
| FCF / Net income | 1.13 | 0.98 | 0.89 | 0.73 | 0.77 | 1.70 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 0.7% | 0.6% | 0.5% | 0.6% | 0.8% | - |
| Effective tax rate | 23.2% | 24.5% | 23.6% | 23.6% | 23.3% | 21.7% |
| Return on assets | 11.2% | 9.7% | 9.3% | 10.8% | 13.7% | 7.9% |
| Return on equity | -112.6% | -230.5% | -295.5% | -203.9% | -745.6% | 656.3% |
| Return on invested capital | 21.2% | 18.0% | 16.6% | 18.8% | 22.6% | 13.5% |
| Liquidity | ||||||
| Current ratio | 0.97 | 1.08 | 1.18 | 1.38 | 1.41 | 1.42 |
| Quick ratio | 0.86 | 0.97 | 1.02 | 1.17 | 1.21 | 1.18 |
| Cash ratio | 0.06 | 0.13 | 0.07 | 0.09 | 0.15 | 0.21 |
| Leverage | ||||||
| Debt / Equity | -6.90 | -15.34 | -20.95 | -13.63 | -36.81 | 53.84 |
| Debt / Assets | 0.69 | 0.64 | 0.66 | 0.72 | 0.68 | 0.65 |
| Debt / EBITDA | 3.12 | 3.24 | 3.45 | 3.27 | 2.71 | 3.78 |
| Interest coverage | 4.4x | 4.1x | 4.0x | 4.9x | 6.3x | 3.4x |
| Equity multiplier | -10.07 | -23.81 | -31.69 | -18.95 | -54.39 | 83.02 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 1.25 | 1.19 | 1.16 | 1.15 | 1.02 | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 52d | 56d | 56d | 54d | 57d | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 16.5x | 13.6x | 14.3x | 12.5x | 12.1x | 15.0x |
| P / B | - | - | - | - | - | 98.8x |
| P / S | 1.5x | 1.1x | 1.2x | 1.2x | 1.6x | - |
| EV / EBITDA | 11.4x | 9.7x | 10.3x | 9.3x | 9.3x | 10.5x |
| Growth | ||||||
| Revenue growth (YoY) | 7.1% | 8.7% | 7.9% | 16.9% | - | - |
| Revenue CAGR (3y) | 7.9% | 11.1% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 15.4% | 10.6% | -10.2% | -12.7% | 81.1% | 3.5% |
| Net income growth (YoY) | 17.8% | 9.9% | -7.1% | -18.9% | 85.3% | 7.1% |
| EPS growth (YoY) | 28.8% | 16.0% | -0.9% | -9.5% | 93.6% | 8.5% |
| EPS CAGR (3y) | 13.9% | 1.3% | 20.2% | 23.9% | 25.7% | 22.5% |
| EPS CAGR (5y) | 21.0% | 16.9% | 12.2% | 26.3% | 23.7% | 17.0% |
| FCF growth (YoY) | 36.4% | 20.3% | 13.6% | -23.3% | -15.9% | 85.7% |
| FCF CAGR (5y) | 3.8% | 10.4% | 17.6% | 11.3% | 13.2% | 22.1% |
| Book value growth (YoY) | -141.2% | -40.9% | 35.9% | -196.6% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$75.60B totalAmerican Group$26.45B · 35.0%
Atlantic Group$24.71B · 32.7%
National Group$21.28B · 28.1%
Corporate And Other$3.17B · 4.2%
Product / service
$2.46B totalProduct And Service Other$2.46B · 100.0%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-General Medical & Surgical Hospitals, NEC
Comparing HCA Healthcare against the 5 most active filers in the same SIC group.
Dividends
$2.94/share trailing 12 months · +8.9% YoY
| Ex-date | Per share |
|---|---|
| Mar 17, 2026 | $0.7800 |
| Dec 15, 2025 | $0.7200 |
| Sep 16, 2025 | $0.7200 |
| Jun 16, 2025 | $0.7200 |
| Mar 17, 2025 | $0.7200 |
| Dec 13, 2024 | $0.6600 |
| Sep 16, 2024 | $0.6600 |
| Jun 14, 2024 | $0.6600 |
| Mar 14, 2024 | $0.6600 |
| Dec 13, 2023 | $0.6000 |
| Sep 14, 2023 | $0.6000 |
| Jun 15, 2023 | $0.6000 |
| Mar 16, 2023 | $0.6000 |
| Dec 13, 2022 | $0.5600 |
| Sep 15, 2022 | $0.5600 |
| Jun 15, 2022 | $0.5600 |
| Mar 16, 2022 | $0.5600 |
| Dec 13, 2021 | $0.4800 |
| Sep 15, 2021 | $0.4800 |
| Jun 15, 2021 | $0.4800 |
| Mar 16, 2021 | $0.4800 |
| Dec 24, 2020 | $0.2680 |
| Oct 29, 2020 | $0.0720 |
| Feb 28, 2020 | $0.4300 |