HCA Healthcare

Health Care Health Care Facilities Nashville, Tennessee Last filing Feb 10, 2026 · FY2025

                    Revenue
                    FY2025
                
$75.6B
                    3y CAGR +7.9%
                    
                    P67
                    
                    +7.1%
                    
                    Net income
                    FY2025
                
$6.8B
                    Net margin +9.0%
                    
                    P35
                    
                    +17.8%
                    
                    Total assets
                    FY2025
                
$60.7B
                    ROA +11.2%
                    
                    P77
                    
                    +2.0%
                    
                    Operating cash flow
                    FY2025
                
$12.6B
                    FCF margin +10.2%
                    
                    P27
                    
                    +20.2%

17 yrs · FY2009–FY2025 7 filed · 1 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

24 accounts · 5 years

Total assets $60.7B

Total liabilities ~$66.7B

Shareholders equity $-6.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-46.2%	+106.7%	+3.0%	-37.4%	—
Accounts Receivable	+1.1%	+8.0%	+12.0%	+9.8%	—
Inventory	-4.9%	-14.0%	-2.3%	+4.1%	—
Other Current Assets	+11.6%	-1.0%	+13.3%	-11.6%	—
Total Current Assets	-3.8%	+10.0%	+9.4%	+0.7%	—
Property,Plant and Equipment	+5.9%	+6.1%	+8.4%	+6.3%	—
Operating Lease Assets	-0.0%	-3.4%	+6.9%	-2.3%	—
Intangible Assets	+2.0%	+1.5%	+3.0%	+1.2%	—
Long Term Investments	-4.4%	-12.4%	-8.1%	+83.7%	—
Other Noncurrent Assets	-7.4%	+20.9%	-2.7%	-34.5%	—
Total Assets	+2.0%	+5.9%	+7.2%	+3.3%	—
Liabilities
Accounts Payable	+9.0%	+1.0%	-0.1%	+3.1%	—
Accrued Liabilities	+9.7%	+3.4%	+13.3%	+1.1%	—
Current Portion of Long Term Debt	+4.1%	+93.8%	+555.1%	+56.1%	—
Total Current Liabilities	+7.7%	+19.9%	+27.8%	+3.3%	—
Long Term Debt	+8.5%	+3.1%	-1.4%	+9.8%	—
Operating Lease Liabilities Noncurrent	-0.5%	-2.1%	+8.6%	-0.2%	—
Other Noncurrent Liabilities	+2.8%	+4.7%	+8.9%	-12.1%	—
Equity
Common Stock	-33.3%	+0.0%	+0.0%	+0.0%	—
Retained Earnings	-170.6%	-56.4%	+40.7%	-328.6%	—
Accumulated Other Comprehensive Income	+21.2%	+8.9%	+13.3%	-21.3%	—
Total Stockholders Equity	-141.2%	-40.9%	+35.9%	-196.6%	—
Noncontrolling Interest	+6.6%	+7.8%	+5.2%	+11.2%	—
Total Liabilitiesand Equity	+2.0%	+5.9%	+7.2%	+3.3%	—

Income Statement

Revenue, expense, and profitability

12 accounts · 5 years

Revenue $75.6B

Operating income Not reported

Net income $6.8B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+7.1%	+8.7%	+7.9%	+2.5%	—
Expenses Depreciation and Amortization	+6.4%	+7.6%	+3.6%	+4.1%	—
Other Income Expense Interest Expense	+9.1%	+6.3%	+11.3%	+11.2%	—
Other Income Expense Other Income/expense	-5.8%	-8.5%	-11.3%	-5.5%	—
Other Income Expense Income Before Tax	+15.4%	+10.6%	-10.2%	-12.7%	—
Income Tax Income Tax Expense	+9.9%	+15.5%	-7.5%	-17.3%	—
net Income Other Items Below Tax	-11.3%	-5.7%	+28.7%	-55.7%	—
net Income net Income	+17.8%	+9.9%	-7.1%	-18.9%	—
net Income Comprehensive Income	+18.4%	+9.3%	-4.5%	-21.2%	—
Earnings Per Share Basic Eps	+28.9%	+15.7%	-0.9%	-9.7%	—
Earnings Per Share Diluted Eps	+28.8%	+16.0%	-0.9%	-9.5%	—
Earnings Per Share Weighted Average Shares Diluted	-8.5%	-5.3%	-6.2%	-10.4%	—

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $12.6B

Investing cash flow $-5.0B

Financing cash flow $-8.6B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+16.9%	+9.3%	-10.9%	-11.5%	—
Operating Activities Depreciation and Amortization	+6.4%	+7.6%	+3.6%	+4.1%	—
Operating Activities Stock Based Compensation	+11.4%	+37.4%	-23.2%	-22.5%	—
Operating Activities Deferred Income Taxes	+1309.1%	-90.4%	-59.9%	+915.7%	—
Operating Activities Changes In Operating Assets and Liabilities	+494.3%	+76.8%	+60.3%	-129.0%	—
Operating Activities Other Non Cash Items	-24.9%	+17.5%	+122.0%	+29.8%	—
Operating Activities net Cash From Operating Activities	+20.2%	+11.5%	+10.7%	-4.9%	—
Investing Activities Capital Expenditures	-1.4%	-2.8%	-7.9%	-22.9%	—
Investing Activities Business Acquisitions	-49.2%	+58.1%	-183.5%	+79.7%	—
Investing Activities Other Investing Activities	+69.7%	+235.5%	-95.0%	-39.7%	—
Investing Activities net Cash From Investing Activities	-1.1%	+7.2%	-56.9%	-28.2%	—
Financing Activities Proceeds From Debt	+90.1%	+154.8%	-64.0%	-14.1%	—
Financing Activities Repayment of Debt	-206.6%	-165.1%	+67.9%	+26.9%	—
Financing Activities Repurchase of Common Stock	-66.6%	-58.5%	+45.6%	+14.8%	—
Financing Activities Dividends Paid	+1.6%	-4.4%	-1.2%	-4.6%	—
Financing Activities Other Financing Activities	-3.4%	-15.0%	+28.9%	-20.4%	—
Financing Activities net Cash From Financing Activities	-86.6%	-11.9%	+27.6%	+15.0%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+1000.0%	-114.3%	+135.0%	-566.7%	—
Cash Reconciliation net Change In Cash	-189.5%	+3596.3%	+105.0%	-58.8%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	—	—	—	—	—
Net margin	+9.0%	+8.2%	+8.1%	+9.4%	+11.8%
FCF margin	+10.2%	+8.0%	+7.2%	+6.9%	+9.2%
Growth
Revenue CAGR (3y)	+7.9%	+6.3%	+8.0%	+5.5%	+8.0%
Returns
ROE	-112.6%	-230.5%	-295.5%	-203.9%	-745.6%
ROA	+11.2%	+9.7%	+9.3%	+10.8%	+13.7%
ROIC	—	—	—	—	—
Liquidity
Current ratio	0.97x	1.08x	1.18x	1.38x	1.41x
Quick ratio	0.73x	0.84x	0.86x	0.99x	1.00x
Leverage
D/E	-11.07x	-24.81x	-32.69x	-19.95x	-55.39x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	1.25x	1.19x	1.16x	1.15x	1.16x
Cash conversion cycle	—	—	—	—	—

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HCA Healthcare

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