H 
HCA Healthcare HCA · USD
Health Care · Health Care Providers & Services · US listing · 🇺🇸 United States
S&P 500
504.89
+2.00%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$75.60bn
FY2016FY2025
Net income
$6.78bn
FY2016FY2025
Free cash flow
$7.69bn
FY2016FY2025
Shareholders' equity
−$2.77bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.60bn | $70.60bn | $64.97bn | $60.23bn | $58.75bn | $51.53bn | $51.34bn | $46.68bn | $43.61bn | $41.49bn |
| Operating income | $14.21bn | $10.58bn | $9.63bn | $9.05bn | $11.24bn | $7.26bn | $7.22bn | $6.64bn | $6.06bn | $6.20bn |
| Net income | $6.78bn | $5.76bn | $5.24bn | $5.64bn | $6.96bn | $3.75bn | $3.50bn | $3.79bn | $2.22bn | $2.89bn |
| Diluted earnings per share | 29.40 | 22.56 | 19.33 | 19.75 | 22.05 | 10.87 | 10.11 | 10.73 | 6.09 | 7.51 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $60.72bn | $59.51bn | $56.21bn | $52.44bn | $50.74bn | $47.49bn | $45.06bn | $39.21bn | $36.59bn | $33.76bn |
| Cash and short-term investments | $1.04bn | $2.02bn | $935.0m | $908.0m | $1.45bn | $1.79bn | $621.0m | $502.0m | $732.0m | $646.0m |
| Total liabilities | $63.49bn | $58.96bn | $55.15bn | $52.51bn | $49.25bn | $44.60bn | $45.62bn | $42.13bn | $41.59bn | $39.39bn |
| Debt | $46.49bn | $43.03bn | $39.59bn | $38.08bn | $34.58bn | $31.00bn | $33.72bn | $32.82bn | $33.06bn | $31.38bn |
| Shareholders' equity | −$2.77bn | $555.0m | $1.06bn | −$73.0m | $1.49bn | $2.89bn | −$565.0m | −$2.92bn | −$5.00bn | −$5.63bn |
| Shares outstanding | 231m | 255m | 271m | 286m | 315m | 345m | 347m | 353m | 364m | 385m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $12.64bn | $10.51bn | $9.43bn | $8.52bn | $8.96bn | $9.23bn | $7.60bn | $6.76bn | $5.43bn | $5.65bn |
| Capital spending | −$4.94bn | −$4.88bn | −$4.74bn | −$4.39bn | −$3.58bn | −$2.83bn | −$4.16bn | −$3.57bn | −$3.02bn | −$2.76bn |
| Free cash flow | $7.69bn | $5.64bn | $4.69bn | $4.13bn | $5.38bn | $6.40bn | $3.44bn | $3.19bn | $2.41bn | $2.89bn |
| Dividends paid | −$679.0m | −$690.0m | −$661.0m | −$653.0m | −$624.0m | −$153.0m | −$550.0m | −$487.0m | −$448.0m | −$434.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.23bn | $19.11bn | $19.51bn | $19.16bn | $18.61bn | $18.32bn | $18.29bn | $17.49bn |
| Operating income | $3.07bn | $2.86bn | $3.18bn | $2.96bn | $2.97bn | $2.85bn | $2.85bn | $2.41bn |
| Net income | $1.70bn | $1.62bn | $1.88bn | $1.64bn | $1.65bn | $1.61bn | $1.44bn | $1.27bn |
| Diluted earnings per share | 7.62 | 7.27 | 8.14 | 7.12 | 7.16 | 6.98 | 5.63 | 4.97 |
| Cash from operations | $2.33bn | $2.01bn | $2.36bn | $4.42bn | $4.21bn | $1.65bn | $2.56bn | $3.52bn |
| Capital spending | −$1.23bn | −$1.12bn | −$1.49bn | −$1.29bn | −$1.18bn | −$991.0m | −$1.28bn | −$1.19bn |
| Free cash flow | $1.10bn | $895.0m | $870.0m | $3.13bn | $3.03bn | $660.0m | $1.27bn | $2.32bn |
| Total assets | $60.53bn | $61.45bn | $60.72bn | $59.75bn | $59.54bn | $59.80bn | $59.51bn | $59.46bn |
| Cash and short-term investments | $1.01bn | $940.0m | $1.04bn | $997.0m | $1.04bn | $1.06bn | $1.93bn | $2.89bn |
| Debt | $51.55bn | $48.02bn | $48.70bn | $46.35bn | $46.36bn | $46.44bn | $45.24bn | $42.97bn |
| Shareholders' equity | −$6.58bn | −$6.30bn | −$2.77bn | −$2.16bn | −$1.24bn | −$438.0m | $555.0m | $786.0m |
Financial ratios
Data as of 8 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 18.8% | 15.0% | 14.8% | 15.0% | 19.1% | 14.1% |
| Net margin | 9.0% | 8.2% | 8.1% | 9.4% | 11.8% | 7.3% |
| Return on equity | -244.8% | 1037.8% | 494.5% | -7730.1% | 467.2% | 129.8% |
| Return on assets | 11.2% | 9.7% | 9.3% | 10.8% | 13.7% | 7.9% |
| Free cash flow yield | 18.8% | 14.9% | 12.9% | 11.2% | 9.8% | 8.6% |
| Revenue growth | 7.1% | 8.7% | 7.9% | 2.5% | 14.0% | 0.4% |
| Earnings growth | 17.8% | 9.9% | -7.1% | -18.9% | 85.3% | 7.1% |
| Current ratio | 0.83x | 1.08x | 1.18x | 1.38x | 1.41x | 1.42x |
| Debt to equity | -16.91x | 78.15x | 37.69x | -526.68x | 23.49x | 10.85x |
| Equity ratio | -4.6% | 0.9% | 1.9% | -0.1% | 2.9% | 6.1% |
| Interest coverage | 6.32x | 5.14x | 4.97x | 5.21x | 7.35x | 4.66x |
| Buybacks as a share of market value | 9.6% | 5.9% | 5.1% | 9.4% | 8.7% | 0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.9% | 8.0% | 6.7% |
| Operating income | 16.2% | 14.4% | 9.1% |
| Net income | 6.3% | 12.6% | 12.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 17.0% | 16.0% | 16.2% | 15.6% |
| Net margin | 8.6% | 8.6% | 8.9% | 8.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.9 | 13.3 | 14.0 | 12.2 | 11.7 | 15.1 | 14.6 | 11.6 | 14.4 | 9.8 |
| Price to sales | 1.4 | 1.1 | 1.1 | 1.1 | 1.4 | 1.1 | 1.0 | 0.9 | 0.7 | 0.7 |
Market value over time
31 Oct 2016 to 4 Sept 2026, in USD
$29.82bn$90.25bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 56% | 11% | 13% | -3% | 51% | 11% | 23% | 39% | 18% | 11% |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 16 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.34 | 2.88 | 2.64 | 2.40 | 2.24 | 1.92 | 0.698 | 1.60 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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