HCA Healthcare (HCA) | Financial Analysis & Statements
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Jun 2025Income Metrics
Revenue
18.6B
Gross Profit
7.6B
40.97%
Operating Income
3.0B
15.95%
Net Income
1.9B
10.16%
EPS (Diluted)
$6.83
Balance Sheet Metrics
Total Assets
59.8B
Total Liabilities
60.2B
Shareholders Equity
-438.0M
Cash Flow Metrics
Operating Cash Flow
2.7B
Free Cash Flow
660.0M
Revenue & Profitability Trend
HCA Healthcare Income Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenue | 70.6B | 65.0B | 60.2B | 58.8B | 51.5B |
| Cost of Goods Sold | 41.9B | 9.9B | 9.4B | 9.5B | 8.4B |
| Gross Profit | 28.7B | 55.1B | 50.9B | 49.3B | 43.2B |
| Gross Margin % | 40.6% | 84.8% | 84.4% | 83.9% | 83.8% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 31.2B | 29.5B | 27.7B | 26.8B | 23.9B |
| Other Operating Expenses | 14.8B | 12.9B | 11.2B | 10.0B | 9.3B |
| Total Operating Expenses | 46.0B | 42.4B | 38.8B | 36.7B | 33.2B |
| Operating Income | 10.5B | 9.6B | 9.1B | 9.7B | 7.3B |
| Operating Margin % | 14.9% | 14.8% | 15.0% | 16.5% | 14.1% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | 2.1B | 1.9B | 1.7B | 1.6B | 1.6B |
| Other Non-Operating Income | 37.0M | 17.0M | 1.3B | 1.7B | -248.0M |
| Pre-tax Income | 8.5B | 7.7B | 8.6B | 9.8B | 5.4B |
| Income Tax | 1.9B | 1.6B | 1.7B | 2.1B | 1.0B |
| Effective Tax Rate % | 21.9% | 21.0% | 20.3% | 21.5% | 19.2% |
| Net Income | 6.7B | 6.1B | 6.8B | 7.7B | 4.4B |
| Net Margin % | 9.4% | 9.4% | 11.3% | 13.1% | 8.5% |
| Key Metrics | |||||
| EBITDA | 13.9B | 12.7B | 12.1B | 12.6B | 10.0B |
| EPS (Basic) | $22.27 | $19.25 | $19.43 | $22.77 | $11.06 |
| EPS (Diluted) | $22.00 | $18.97 | $19.15 | $21.16 | $10.93 |
| Basic Shares Outstanding | 258603000 | 272404000 | 290348000 | 305476800 | 339425600 |
| Diluted Shares Outstanding | 258603000 | 272404000 | 290348000 | 305476800 | 339425600 |
Income Statement Trend
HCA Healthcare Balance Sheet From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 1.9B | 935.0M | 908.0M | 1.5B | 1.8B |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 10.8B | 10.0B | 8.9B | 8.1B | 7.1B |
| Inventory | 1.7B | 2.0B | 2.1B | 2.0B | 2.0B |
| Other Current Assets | 2.0B | 2.0B | 1.8B | 2.0B | 1.5B |
| Total Current Assets | 16.4B | 14.9B | 13.6B | 13.5B | 12.3B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 36.8B | 34.2B | 32.0B | 30.4B | 29.1B |
| Goodwill | 10.1B | 9.9B | 9.7B | 9.5B | 8.6B |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 230.0M | 184.0M | 298.0M | 598.0M | 546.0M |
| Total Non-Current Assets | 43.1B | 41.3B | 38.8B | 37.2B | 35.2B |
| Total Assets | 59.5B | 56.2B | 52.4B | 50.7B | 47.5B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 4.3B | 4.2B | 4.2B | 4.1B | 3.5B |
| Short-term Debt | 5.0B | 2.8B | 734.0M | 629.0M | 588.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 15.2B | 12.7B | 9.9B | 9.6B | 8.7B |
| Non-Current Liabilities | |||||
| Long-term Debt | 40.2B | 39.1B | 39.5B | 36.1B | 32.5B |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 3.6B | 1.6B | 1.5B | 1.5B | 1.5B |
| Total Non-Current Liabilities | 43.8B | 42.5B | 42.6B | 39.7B | 35.9B |
| Total Liabilities | 59.0B | 55.2B | 52.5B | 49.3B | 44.6B |
| Equity | |||||
| Common Stock | 3.0M | 3.0M | 3.0M | 3.0M | 3.0M |
| Retained Earnings | -2.1B | -1.4B | -2.3B | -532.0M | 777.0M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 555.0M | 1.1B | -73.0M | 1.5B | 2.9B |
| Key Metrics | |||||
| Total Debt | 45.2B | 41.9B | 40.2B | 36.7B | 33.1B |
| Working Capital | 1.2B | 2.3B | 3.7B | 4.0B | 3.6B |
Balance Sheet Composition
HCA Healthcare Cash Flow Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 6.7B | 6.1B | 6.8B | 7.7B | 4.4B |
| Depreciation & Amortization | 3.3B | 3.1B | 3.0B | 2.9B | 2.7B |
| Stock-Based Compensation | 360.0M | 262.0M | 341.0M | 440.0M | 362.0M |
| Working Capital Changes | -465.0M | -1.1B | -856.0M | -1.5B | 23.0M |
| Operating Cash Flow | 10.2B | 8.8B | 10.0B | 9.6B | 7.7B |
| Investing Activities | |||||
| Capital Expenditures | -4.9B | -4.7B | -4.4B | -3.6B | -2.8B |
| Acquisitions | 62.0M | -442.0M | 1.0B | 1.1B | -500.0M |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | - | - | - | - | - |
| Investing Cash Flow | -4.8B | -5.2B | -3.4B | -2.5B | -3.4B |
| Financing Activities | |||||
| Share Repurchases | -6.0B | -3.8B | -7.0B | -8.2B | -441.0M |
| Dividends Paid | -690.0M | -661.0M | -653.0M | -624.0M | -153.0M |
| Debt Issuance | 7.5B | 3.2B | 6.0B | 4.3B | 2.7B |
| Debt Repayment | -4.3B | -909.0M | -2.8B | -3.9B | -3.4B |
| Financing Cash Flow | -4.6B | -4.1B | -5.7B | -6.7B | -4.7B |
| Free Cash Flow | 5.6B | 4.7B | 4.1B | 5.4B | 6.4B |
| Net Change in Cash | 769.0M | -477.0M | 982.0M | 387.0M | -375.0M |
Cash Flow Trend
HCA Healthcare Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
16.91
Forward P/E
16.40
Price to Book
-76.81
Price to Sales
1.30
PEG Ratio
0.68
Profitability Ratios
Profit Margin
8.21%
Operating Margin
15.95%
Return on Equity
13,631.68%
Return on Assets
11.84%
Financial Health
Current Ratio
0.98
Debt to Equity
-37.45
Beta
1.40
Per Share Data
EPS (TTM)
$23.81
Book Value per Share
$-18.61
Revenue per Share
$292.29
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| hca | 94.2B | 16.91 | -76.81 | 13,631.68% | 8.21% | -37.45 |
| Tenet Healthcare | 15.7B | 11.18 | 4.20 | 29.65% | 7.18% | 158.70 |
| Encompass Health | 12.3B | 23.81 | 5.40 | 24.72% | 9.22% | 86.97 |
| Universal Health | 11.6B | 9.62 | 1.65 | 18.79% | 7.66% | 70.09 |
| DaVita | 9.8B | 13.45 | 6.68 | 57.94% | 6.35% | 825.19 |
| Ensign Group | 9.6B | 30.10 | 4.72 | 17.54% | 7.00% | 100.93 |
Financial data is updated regularly. All figures are in the company's reporting currency.