HCA Healthcare (HCA) Financials

$378.70 +2.11 (+0.56%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$381.62 +2.92 (+0.77%)

As of 05/27/2025 07:45 PM Eastern

Annual Income Statements for HCA Healthcare

This table shows HCA Healthcare's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	5,760	5,242	5,643	6,956	3,754	3,505	3,787	2,216	2,890	2,129
Consolidated Net Income / (Loss)	6,657	6,091	6,834	7,721	4,387	4,145	4,389	2,743	3,432	2,696
Net Income / (Loss) Continuing Operations	6,657	6,091	6,834	7,721	4,387	4,145	4,389	2,743	3,432	2,696
Total Pre-Tax Income	8,523	7,706	8,580	9,833	5,430	5,244	5,335	4,381	4,810	3,957
Total Operating Income	10,584	9,622	10,354	11,298	7,255	7,236	7,090	6,065	6,467	5,960
Total Gross Profit	28,678	35,481	50,862	31,973	27,659	42,855	17,528	36,298	22,593	21,563
Total Revenue	70,603	64,968	60,233	58,752	51,533	51,336	46,677	43,614	41,490	43,591
Operating Revenue	70,603	64,968	60,233	58,752	51,533	51,336	46,677	43,614	41,490	43,591
Total Cost of Revenue	41,925	29,487	9,371	26,779	23,874	8,481	29,149	7,316	18,897	22,028
Operating Cost of Revenue	41,925	29,487	9,371	26,779	23,874	8,481	29,149	7,316	18,897	18,115
Total Operating Expenses	18,094	25,859	40,508	20,675	20,404	35,619	10,438	30,233	16,126	15,603
Selling, General & Admin Expense	14,819	22,777	38,840	19,442	17,676	33,041	8,608	28,110	14,429	13,694
Depreciation Expense	3,312	3,077	2,969	2,853	2,721	2,596	2,278	2,131	1,966	1,904
Other Operating Expenses / (Income)	-23	-	-	-	-	-	-20	-	-246	-
Other Special Charges / (Income)	-14	5.00	-1,301	-1,620	7.00	-18	-428	-8.00	-23	5.00
Total Other Income / (Expense), net	-2,061	-1,916	-1,774	-1,465	-1,825	-1,992	-1,755	-1,684	-1,657	-2,003
Interest Expense	2,061	1,938	1,819	1,578	1,879	2,035	1,755	1,729	1,711	1,800
Income Tax Expense	1,866	1,615	1,746	2,112	1,043	1,099	946	1,638	1,378	1,261
Net Income / (Loss) Attributable to Noncontrolling Interest	897	849	1,191	765	633	640	602	527	542	567
Basic Earnings per Share	$22.27	$19.25	$19.43	$21.52	$11.10	$10.27	$10.90	$6.12	$7.53	$5.14
Weighted Average Basic Shares Outstanding	258.60M	272.40M	290.35M	323.32M	338.27M	341.21M	347.30M	362.31M	383.59M	414.19M
Diluted Earnings per Share	$22.00	$18.97	$19.15	$21.16	$10.93	$10.07	$10.66	$5.95	$7.30	$4.99
Weighted Average Diluted Shares Outstanding	261.81M	276.41M	294.67M	328.75M	343.61M	348.23M	355.30M	372.22M	395.85M	426.72M
Weighted Average Basic & Diluted Shares Outstanding	248.34M	264.50M	276.97M	303.60M	339.92M	338.43M	347.40M	362.10M	383.80M	414.20M
Cash Dividends to Common per Share	$2.64	$2.40	$2.24	$1.92	$0.43	$1.60	$1.40	-	-	-

This table shows HCA Healthcare's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	1,610	1,438	1,270	1,461	1,591	1,607	1,079	1,193	1,363	2,081	1,134
Consolidated Net Income / (Loss)	1,825	1,686	1,482	1,687	1,802	1,861	1,275	1,412	1,543	2,646	1,344
Net Income / (Loss) Continuing Operations	1,825	1,686	1,482	1,687	1,802	1,861	1,275	1,412	1,543	2,646	1,344
Total Pre-Tax Income	2,327	2,133	1,906	2,237	2,247	2,345	1,630	1,809	1,922	3,302	1,704
Total Operating Income	2,856	2,676	2,406	2,743	2,759	2,826	2,094	2,301	2,401	3,739	2,140
Total Gross Profit	10,324	-2,767	9,626	14,858	6,961	4,934	8,657	13,383	8,507	26,756	8,072
Total Revenue	18,321	18,285	17,487	17,492	17,339	17,303	16,213	15,861	15,591	15,497	14,971
Operating Revenue	18,321	18,285	17,487	17,492	17,339	17,303	16,213	15,861	15,591	15,497	14,971
Total Cost of Revenue	7,997	21,052	7,861	2,634	10,378	12,369	7,556	2,478	7,084	-11,259	6,899
Operating Cost of Revenue	7,997	21,052	7,861	2,634	10,378	12,369	7,556	2,478	7,084	-11,259	6,899
Total Operating Expenses	7,468	-5,443	7,220	12,115	4,202	2,108	6,563	11,082	6,106	23,017	5,932
Selling, General & Admin Expense	6,609	-6,469	6,374	11,308	3,606	1,344	5,796	10,320	5,317	23,593	5,180
Depreciation Expense	860	856	842	819	795	789	769	763	756	750	749
Other Special Charges / (Income)	-1.00	195	4.00	-12	-201	-7.00	-2.00	-1.00	15	-1,326	3.00
Total Other Income / (Expense), net	-529	-543	-500	-506	-512	-481	-464	-492	-479	-437	-436
Interest Expense	547	528	515	506	512	491	483	485	479	453	446
Interest & Investment Income	18	-	15	0.00	-	-	19	-7.00	-	16	10
Income Tax Expense	502	447	424	550	445	484	355	397	379	656	360
Net Income / (Loss) Attributable to Noncontrolling Interest	215	248	212	226	211	254	196	219	180	565	210
Basic Earnings per Share	$6.52	$5.72	$4.94	$5.60	$6.01	$6.00	$3.98	$4.35	$4.92	$7.30	$3.97
Weighted Average Basic Shares Outstanding	246.94M	258.60M	256.76M	261.16M	264.44M	272.40M	271.17M	274.49M	276.91M	290.35M	285.96M
Diluted Earnings per Share	$6.45	$5.66	$4.88	$5.53	$5.93	$5.92	$3.91	$4.29	$4.85	$7.20	$3.91
Weighted Average Diluted Shares Outstanding	249.44M	261.81M	259.92M	264.07M	268.02M	276.41M	275.42M	278.20M	280.96M	294.67M	289.85M
Weighted Average Basic & Diluted Shares Outstanding	240.57M	248.34M	253.30M	258.07M	261.91M	264.50M	267.66M	271.99M	275.19M	276.97M	282.72M
Cash Dividends to Common per Share	$0.72	-	$0.66	$0.66	$0.66	-	$0.60	$0.60	$0.60	-	$0.56

This table details how cash moves in and out of HCA Healthcare's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	998	27	-543	-342	1,172	119	-215	86	-95	175
Net Cash From Operating Activities	10,514	9,431	8,522	8,959	9,232	7,602	6,761	5,426	5,653	4,633
Net Cash From Continuing Operating Activities	10,514	9,431	8,522	8,959	9,232	7,602	6,761	5,426	5,653	4,734
Net Income / (Loss) Continuing Operations	6,657	6,091	6,834	7,721	4,387	4,145	4,389	2,743	3,432	2,696
Consolidated Net Income / (Loss)	6,657	6,091	6,834	7,721	4,387	4,145	4,389	2,743	3,432	2,696
Depreciation Expense	3,312	3,077	2,969	2,853	2,721	2,596	2,278	2,131	1,966	1,904
Amortization Expense	35	35	29	27	30	30	31	31	34	35
Non-Cash Adjustments To Reconcile Net Income	594	456	-729	-1,069	775	669	-44	315	56	4,595
Changes in Operating Assets and Liabilities, net	-84	-228	-581	-573	1,319	162	107	206	165	-4,597
Net Cash From Investing Activities	-4,933	-5,317	-3,389	-2,643	-3,393	-5,720	-3,901	-4,279	-3,240	-2,583
Net Cash From Continuing Investing Activities	-4,933	-5,317	-3,389	-2,643	-3,393	-5,720	-3,901	-4,279	-3,240	-2,583
Purchase of Property, Plant & Equipment	-4,875	-4,744	-4,395	-3,577	-2,835	-4,158	-3,573	-3,015	-2,760	-2,375
Purchase of Investments	-266	-635	-224	-1,105	-568	-1,682	-1,253	-1,285	-576	-351
Divestitures	328	193	1,237	2,160	68	61	808	25	26	73
Sale and/or Maturity of Investments	-115	-112	14	-117	-20	25	57	-	64	63
Other Investing Activities, net	-5.00	-19	-21	-4.00	-38	34	60	-4.00	6.00	7.00
Net Cash From Financing Activities	-4,582	-4,094	-5,656	-6,655	-4,677	-1,771	-3,075	-1,061	-2,508	-1,976
Net Cash From Continuing Financing Activities	-4,582	-4,094	-5,656	-6,655	-4,677	-1,771	-3,075	-1,061	-2,508	-1,976
Repayment of Debt	-4,634	-2,206	-2,975	-1,411	-6,157	-6,099	-2,617	-824	-4,723	-4,632
Repurchase of Common Equity	-6,042	-3,811	-7,000	-8,215	-441	-1,031	-1,530	-2,051	-2,751	-2,397
Payment of Dividends	-1,401	-1,301	-1,678	-1,373	-779	-1,092	-928	-448	-434	-495
Issuance of Debt	7,495	3,224	5,997	4,344	2,700	6,451	2,000	2,262	5,400	5,548
Other Net Changes in Cash	-1.00	7.00	-	-	-	-	-	-	0.00	-
Cash Interest Paid	1,938	1,892	1,662	1,502	1,607	1,914	1,744	1,700	1,666	1,650
Cash Income Taxes Paid	1,844	1,386	1,175	2,182	1,002	849	872	1,205	1,255	1,186

This table details how cash moves in and out of HCA Healthcare's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-873	-955	2,057	-453	349	44	29	20	-66	-91	141
Net Cash From Operating Activities	1,651	2,559	3,515	1,971	2,469	2,674	2,479	2,475	1,803	2,527	3,020
Net Cash From Continuing Operating Activities	1,651	2,559	3,515	1,971	2,469	2,674	2,479	2,475	1,803	2,527	3,020
Net Income / (Loss) Continuing Operations	1,825	1,686	1,482	1,687	1,802	1,861	1,275	1,412	1,543	2,646	1,344
Consolidated Net Income / (Loss)	1,825	1,686	1,482	1,687	1,802	1,861	1,275	1,412	1,543	2,646	1,344
Depreciation Expense	860	856	842	819	795	789	769	763	756	750	749
Amortization Expense	11	9.00	9.00	8.00	9.00	9.00	9.00	8.00	9.00	7.00	7.00
Non-Cash Adjustments To Reconcile Net Income	150	341	117	187	-51	73	99	119	165	-1,214	133
Changes in Operating Assets and Liabilities, net	-1,195	-333	1,065	-730	-86	-58	327	173	-670	338	787
Net Cash From Investing Activities	-1,032	-1,346	-1,352	-1,332	-903	-1,597	-1,312	-1,257	-1,151	-793	-546
Net Cash From Continuing Investing Activities	-1,032	-1,346	-1,352	-1,332	-903	-1,597	-1,312	-1,257	-1,151	-793	-546
Purchase of Property, Plant & Equipment	-991	-1,285	-1,191	-1,281	-1,118	-1,159	-1,147	-1,241	-1,197	-1,323	-1,131
Purchase of Investments	-227	-42	-93	-35	-96	-354	-157	-9.00	-115	-48	-60
Divestitures	161	16	1.00	1.00	310	10	11	7.00	165	585	632
Sale and/or Maturity of Investments	28	-30	-71	-16	2.00	-82	-14	-3.00	-13	4.00	12
Other Investing Activities, net	-3.00	-5.00	2.00	-1.00	-1.00	-12	-5.00	-11	9.00	-11	1.00
Net Cash From Financing Activities	-1,495	-2,163	-110	-1,093	-1,216	-1,039	-1,132	-1,198	-725	-1,838	-2,317
Net Cash From Continuing Financing Activities	-1,495	-2,163	-110	-1,093	-1,216	-1,039	-1,132	-1,198	-725	-1,838	-2,317
Repayment of Debt	-3,822	-117	-966	631	-4,182	170	323	-3,182	483	291	-1,252
Repurchase of Common Equity	-2,506	-1,700	-1,795	-1,367	-1,180	-910	-1,140	-915	-846	-1,519	-698
Payment of Dividends	-400	-346	-361	-357	-337	-303	-317	-319	-362	-631	-377
Issuance of Debt	5,233	-	3,012	-	4,483	4.00	2.00	3,218	0.00	21	10
Effect of Exchange Rate Changes	3.00	-	-	-	-	-	-	-	-	13	-16
Cash Interest Paid	539	533	462	405	538	432	535	351	574	333	552
Cash Income Taxes Paid	10	358	487	998	1.00	316	297	766	7.00	244	322

This table presents HCA Healthcare's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	59,513	56,211	52,438	50,742	47,490	45,058	39,207	36,593	33,758	32,744
Total Current Assets	16,414	14,927	13,643	13,542	12,333	11,196	10,213	9,977	9,086	9,232
Cash & Equivalents	1,933	935	908	1,451	1,793	621	502	732	646	741
Accounts Receivable	10,751	9,958	8,891	8,095	7,051	7,380	6,789	6,501	5,826	5,889
Inventories, net	1,738	2,021	2,068	1,986	2,025	1,849	1,732	1,573	1,503	1,439
Other Current Assets	1,992	2,013	1,776	2,010	1,464	1,346	1,190	1,171	1,111	1,163
Plant, Property, & Equipment, net	29,414	27,715	25,575	24,063	23,199	22,715	19,757	17,895	16,352	15,014
Plant, Property & Equipment, gross	62,514	58,548	54,757	51,350	49,317	47,235	85,930	40,084	37,055	34,614
Accumulated Depreciation	33,100	30,833	29,182	27,287	26,118	24,520	23,208	22,189	20,703	19,600
Total Noncurrent Assets	13,685	13,569	13,220	13,137	11,570	11,147	9,237	8,721	8,320	8,498
Long-Term Investments	1,231	1,233	1,204	886	422	564	594	617	542	610
Goodwill	10,093	9,945	9,653	9,540	8,578	8,269	7,953	7,394	6,704	6,731
Other Noncurrent Operating Assets	2,361	2,391	2,363	2,711	2,570	2,314	690	710	1,074	1,157
Total Liabilities & Shareholders' Equity	59,513	56,211	52,438	50,742	47,490	45,058	39,207	36,593	33,758	32,744
Total Liabilities	58,958	55,151	52,511	49,253	44,598	45,623	42,125	41,588	39,391	38,790
Total Current Liabilities	15,177	12,655	9,902	9,582	8,704	7,757	7,569	6,158	5,834	5,516
Short-Term Debt	4,698	2,424	370	237	209	145	788	200	216	233
Accounts Payable	4,276	4,233	4,239	4,111	3,535	2,905	2,577	2,606	2,318	2,170
Accrued Expenses	6,203	5,998	5,293	5,234	4,960	4,707	4,204	3,352	3,300	3,113
Total Noncurrent Liabilities	43,781	42,496	42,609	39,671	35,894	37,866	34,556	35,430	33,557	33,274
Long-Term Debt	38,333	37,169	37,714	34,342	30,795	33,577	32,033	32,858	31,160	30,255
Noncurrent Deferred & Payable Income Tax Liabilities	2,041	1,867	1,615	2,060	1,940	1,420	1,248	1,374	1,249	1,904
Other Noncurrent Operating Liabilities	3,407	3,460	3,280	3,269	3,159	2,869	1,275	1,198	1,148	1,115
Total Equity & Noncontrolling Interests	555	1,060	-73	1,489	2,892	-565	-2,918	-4,995	-5,633	-6,046
Total Preferred & Common Equity	-2,499	-1,774	-2,767	-933	572	-2,808	-4,950	-6,806	-7,302	-7,599
Total Common Equity	-2,499	-1,774	-2,767	-933	572	-2,808	-4,950	-6,806	-7,302	-7,599
Common Stock	3.00	3.00	3.00	3.00	297	3.00	3.00	4.00	4.00	4.00
Retained Earnings	-2,115	-1,352	-2,280	-532	777	-2,351	-4,572	-6,532	-6,968	-7,338
Accumulated Other Comprehensive Income / (Loss)	-387	-425	-490	-404	-502	-460	-381	-278	-338	-265
Noncontrolling Interest	3,054	2,834	2,694	2,422	2,320	2,243	2,032	1,811	1,669	1,553

This table presents HCA Healthcare's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	59,798	59,513	59,459	57,379	56,962	56,211	54,589	53,594	52,711	52,438	51,484
Total Current Assets	16,258	16,414	16,662	15,173	15,282	14,927	14,294	13,888	13,541	13,643	13,481
Cash & Equivalents	1,060	1,933	2,888	831	1,284	935	891	862	842	908	999
Accounts Receivable	11,088	10,751	9,915	10,239	10,044	9,958	9,182	8,713	8,657	8,891	8,552
Inventories, net	1,794	1,738	1,776	1,800	1,903	2,021	2,030	2,050	2,085	2,068	2,009
Other Current Assets	2,316	1,992	2,083	2,303	2,051	2,013	2,191	2,263	1,957	1,776	1,921
Plant, Property, & Equipment, net	29,738	29,414	29,047	28,639	28,096	27,715	27,117	26,644	26,053	25,575	24,978
Plant, Property & Equipment, gross	63,680	62,514	61,750	60,625	59,440	58,548	57,772	56,667	55,463	54,757	53,730
Accumulated Depreciation	33,942	33,100	32,703	31,986	31,344	30,833	30,655	30,023	29,410	29,182	28,752
Total Noncurrent Assets	13,802	13,685	13,750	13,567	13,584	13,569	13,178	13,062	13,117	13,220	13,025
Long-Term Investments	1,207	1,231	1,258	1,185	1,207	1,233	1,121	1,115	1,176	1,204	816
Goodwill	10,237	10,093	9,982	9,963	9,967	9,945	9,778	9,641	9,590	9,653	9,651
Other Noncurrent Operating Assets	2,358	2,361	2,510	2,419	2,410	2,391	2,279	2,306	2,351	2,363	2,558
Total Liabilities & Shareholders' Equity	59,798	59,513	59,459	57,379	56,962	56,211	54,589	53,594	52,711	52,438	51,484
Total Liabilities	60,236	58,958	58,673	56,040	55,692	55,151	54,232	53,133	52,479	52,511	52,262
Total Current Liabilities	13,631	15,177	14,900	14,301	13,141	12,655	12,407	11,545	11,028	9,902	9,784
Short-Term Debt	3,519	4,698	4,682	4,574	3,028	2,424	2,553	2,395	2,378	370	218
Accounts Payable	4,488	4,276	4,235	4,029	4,735	4,233	4,139	3,823	3,769	4,239	4,161
Accrued Expenses	5,624	6,203	5,983	5,698	5,378	5,998	5,715	5,327	4,881	5,293	5,405
Total Noncurrent Liabilities	46,605	43,781	43,773	41,739	42,551	42,496	41,825	41,588	41,451	42,609	42,478
Long-Term Debt	41,057	38,333	38,283	36,306	37,163	37,169	36,793	36,537	36,478	37,714	37,492
Noncurrent Deferred & Payable Income Tax Liabilities	2,191	2,041	1,982	1,966	1,905	1,867	1,666	1,691	1,692	1,615	1,714
Other Noncurrent Operating Liabilities	3,357	3,407	3,508	3,467	3,483	3,460	3,366	3,360	3,281	3,280	3,272
Total Equity & Noncontrolling Interests	-438	555	786	1,339	1,270	1,060	357	461	232	-73	-778
Total Preferred & Common Equity	-3,519	-2,499	-2,182	-1,600	-1,615	-1,774	-2,477	-2,303	-2,495	-2,767	-3,370
Total Common Equity	-3,519	-2,499	-2,182	-1,600	-1,615	-1,774	-2,477	-2,303	-2,495	-2,767	-3,370
Common Stock	2.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00
Retained Earnings	-3,164	-2,115	-1,807	-1,170	-1,185	-1,352	-1,989	-1,850	-2,028	-2,280	-2,781
Accumulated Other Comprehensive Income / (Loss)	-357	-387	-378	-433	-433	-425	-491	-456	-470	-490	-592
Noncontrolling Interest	3,081	3,054	2,968	2,939	2,885	2,834	2,834	2,764	2,727	2,694	2,592

This table displays calculated financial ratios and metrics derived from HCA Healthcare's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.67%	7.86%	2.52%	14.01%	0.38%	9.98%	7.02%	5.12%	-4.82%	8.74%
EBITDA Growth	9.40%	-4.63%	-5.83%	41.70%	1.46%	4.93%	14.25%	-2.83%	10.68%	3.69%
EBIT Growth	10.00%	-7.07%	-8.36%	55.73%	0.26%	2.06%	16.90%	-6.22%	13.24%	3.54%
NOPAT Growth	8.70%	-7.78%	-7.04%	51.35%	2.48%	-1.94%	53.60%	-17.70%	13.63%	6.48%
Net Income Growth	9.29%	-10.87%	-11.49%	76.00%	5.84%	-5.56%	60.01%	-20.08%	27.30%	13.61%
EPS Growth	15.97%	-0.94%	-9.50%	93.60%	8.54%	-5.53%	79.16%	-18.49%	46.29%	19.95%
Operating Cash Flow Growth	11.48%	10.67%	-4.88%	-2.96%	21.44%	12.44%	24.60%	-4.02%	22.02%	4.16%
Free Cash Flow Firm Growth	26.10%	-17.43%	-5.51%	-1.64%	156.03%	-31.69%	128.26%	-47.99%	17.87%	14.29%
Invested Capital Growth	5.03%	7.20%	6.43%	7.79%	-2.12%	10.99%	7.83%	8.79%	6.34%	6.40%
Revenue Q/Q Growth	1.41%	2.86%	0.72%	1.33%	1.52%	2.49%	1.55%	8.22%	-6.90%	2.00%
EBITDA Q/Q Growth	-0.59%	-6.41%	6.57%	1.86%	7.48%	1.84%	1.68%	-0.96%	3.22%	-1.15%
EBIT Q/Q Growth	-1.40%	-8.67%	8.37%	1.76%	11.14%	0.92%	1.78%	-2.05%	3.87%	-1.87%
NOPAT Q/Q Growth	-1.53%	-9.05%	9.61%	0.48%	12.41%	-0.68%	15.54%	-12.08%	3.23%	2.59%
Net Income Q/Q Growth	-2.56%	-11.42%	10.35%	4.20%	10.62%	0.68%	15.96%	-13.93%	11.25%	2.35%
EPS Q/Q Growth	-1.17%	-6.32%	8.75%	7.79%	10.52%	0.70%	19.11%	-15.12%	15.32%	4.83%
Operating Cash Flow Q/Q Growth	-1.08%	1.58%	1.00%	205.46%	-39.74%	4.54%	6.98%	0.65%	4.47%	-3.54%
Free Cash Flow Firm Q/Q Growth	-2.34%	-13.28%	30.06%	325.61%	-45.05%	10.41%	8.27%	-6.38%	-1.43%	15.74%
Invested Capital Q/Q Growth	2.06%	2.11%	2.23%	4.54%	25.42%	1.05%	2.17%	0.43%	2.18%	1.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.62%	54.61%	84.44%	54.42%	53.67%	83.48%	37.55%	83.23%	54.45%	49.47%
EBITDA Margin	19.73%	19.60%	22.17%	24.13%	19.42%	19.21%	20.14%	18.86%	20.41%	17.55%
Operating Margin	14.99%	14.81%	17.19%	19.23%	14.08%	14.10%	15.19%	13.91%	15.59%	13.67%
EBIT Margin	14.99%	14.81%	17.19%	19.23%	14.08%	14.10%	15.19%	13.91%	15.59%	13.10%
Profit (Net Income) Margin	9.43%	9.38%	11.35%	13.14%	8.51%	8.07%	9.40%	6.29%	8.27%	6.18%
Tax Burden Percent	78.11%	79.04%	79.65%	78.52%	80.79%	79.04%	82.27%	62.61%	71.35%	68.13%
Interest Burden Percent	80.53%	80.09%	82.87%	87.03%	74.84%	72.47%	75.25%	72.23%	74.38%	69.29%
Effective Tax Rate	21.89%	20.96%	20.35%	21.48%	19.21%	20.96%	17.73%	37.39%	28.65%	31.87%
Return on Invested Capital (ROIC)	20.95%	20.45%	23.69%	27.29%	18.53%	18.82%	21.01%	14.81%	19.37%	18.13%
ROIC Less NNEP Spread (ROIC-NNEP)	16.79%	16.32%	19.55%	23.49%	13.69%	13.92%	16.46%	11.41%	15.38%	13.37%
Return on Net Nonoperating Assets (RNNOA)	803.44%	1,213.80%	941.57%	325.19%	358.52%	-256.83%	-131.94%	-66.43%	-78.14%	-61.12%
Return on Equity (ROE)	824.40%	1,234.25%	965.25%	352.48%	377.05%	-238.01%	-110.93%	-51.62%	-58.77%	-42.98%
Cash Return on Invested Capital (CROIC)	16.04%	13.50%	17.46%	19.79%	20.68%	8.41%	13.47%	6.39%	13.22%	11.93%
Operating Return on Assets (OROA)	18.29%	17.71%	20.07%	23.00%	15.68%	17.17%	18.71%	17.24%	19.45%	17.92%
Return on Assets (ROA)	11.51%	11.21%	13.25%	15.72%	9.48%	9.84%	11.58%	7.80%	10.32%	8.46%
Return on Common Equity (ROCE)	-2,181.20%	-5,678.53%	-2,522.20%	-29.04%	-362.31%	-530.15%	-164.81%	-68.52%	-74.99%	-53.09%
Return on Equity Simple (ROE_SIMPLE)	-266.39%	-343.35%	-246.98%	-827.55%	766.96%	-147.61%	-88.67%	-40.30%	-47.00%	-35.48%
Net Operating Profit after Tax (NOPAT)	8,267	7,605	8,247	8,871	5,861	5,720	5,833	3,797	4,614	4,061
NOPAT Margin	11.71%	11.71%	13.69%	15.10%	11.37%	11.14%	12.50%	8.71%	11.12%	9.32%
Net Nonoperating Expense Percent (NNEP)	4.17%	4.13%	4.14%	3.79%	4.84%	4.90%	4.55%	3.41%	3.99%	4.76%
Return On Investment Capital (ROIC_SIMPLE)	18.97%	18.71%	21.70%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	59.38%	45.39%	15.56%	45.58%	46.33%	16.52%	62.45%	16.77%	45.55%	50.53%
SG&A Expenses to Revenue	20.99%	35.06%	64.48%	33.09%	34.30%	64.36%	18.44%	64.45%	34.78%	31.41%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.63%	39.80%	67.25%	35.19%	39.59%	69.38%	22.36%	69.32%	38.87%	35.79%
Earnings before Interest and Taxes (EBIT)	10,584	9,622	10,354	11,298	7,255	7,236	7,090	6,065	6,467	5,711
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13,931	12,734	13,352	14,178	10,006	9,862	9,399	8,227	8,467	7,650
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	94.22	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.08	1.11	1.11	1.33	1.05	0.94	0.87	0.67	0.63	0.59
Price to Earnings (P/E)	13.20	13.71	11.82	11.22	14.36	13.78	10.76	13.19	9.02	12.17
Dividend Yield	0.88%	0.89%	0.95%	0.87%	0.48%	1.12%	1.18%	0.00%	0.00%	0.00%
Earnings Yield	7.58%	7.29%	8.46%	8.91%	6.97%	7.26%	9.29%	7.58%	11.08%	8.21%
Enterprise Value to Invested Capital (EV/IC)	2.94	2.91	2.94	3.34	2.72	2.60	2.59	2.35	2.36	2.45
Enterprise Value to Revenue (EV/Rev)	1.68	1.73	1.75	1.92	1.65	1.62	1.60	1.44	1.40	1.30
Enterprise Value to EBITDA (EV/EBITDA)	8.54	8.81	7.89	7.95	8.50	8.42	7.93	7.63	6.84	7.40
Enterprise Value to EBIT (EV/EBIT)	11.24	11.66	10.18	9.98	11.72	11.48	10.51	10.35	8.96	9.91
Enterprise Value to NOPAT (EV/NOPAT)	14.39	14.75	12.78	12.71	14.50	14.52	12.77	16.53	12.55	13.94
Enterprise Value to Operating Cash Flow (EV/OCF)	11.31	11.89	12.36	12.58	9.21	10.93	11.02	11.57	10.25	12.22
Enterprise Value to Free Cash Flow (EV/FCFF)	18.79	22.34	17.33	17.52	13.00	32.52	19.92	38.30	18.39	21.18
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	77.53	37.35	-521.70	23.22	10.72	-59.69	-11.25	-6.62	-5.57	-5.04
Long-Term Debt to Equity	69.07	35.07	-516.63	23.06	10.65	-59.43	-10.98	-6.58	-5.53	-5.00
Financial Leverage	47.86	74.36	48.17	13.84	26.19	-18.45	-8.02	-5.82	-5.08	-4.57
Leverage Ratio	71.66	110.08	72.87	22.42	39.77	-24.19	-9.58	-6.62	-5.69	-5.08
Compound Leverage Factor	57.70	88.16	60.38	19.51	29.77	-17.53	-7.21	-4.78	-4.24	-3.52
Debt to Total Capital	98.73%	97.39%	100.19%	95.87%	91.47%	101.70%	109.76%	117.80%	121.88%	124.74%
Short-Term Debt to Total Capital	10.78%	5.96%	0.97%	0.66%	0.62%	0.44%	2.64%	0.71%	0.84%	0.95%
Long-Term Debt to Total Capital	87.95%	91.43%	99.22%	95.21%	90.85%	101.27%	107.12%	117.09%	121.04%	123.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	7.01%	6.97%	7.09%	6.72%	6.84%	6.76%	6.80%	6.45%	6.48%	6.35%
Common Equity to Total Capital	-5.73%	-4.36%	-7.28%	-2.59%	1.69%	-8.47%	-16.55%	-24.25%	-28.37%	-31.09%
Debt to EBITDA	3.09	3.11	2.85	2.44	3.10	3.42	3.49	4.02	3.71	3.99
Net Debt to EBITDA	2.86	2.94	2.69	2.27	2.88	3.30	3.38	3.85	3.57	3.81
Long-Term Debt to EBITDA	2.75	2.92	2.82	2.42	3.08	3.40	3.41	3.99	3.68	3.95
Debt to NOPAT	5.21	5.21	4.62	3.90	5.29	5.90	5.63	8.71	6.80	7.51
Net Debt to NOPAT	4.82	4.92	4.36	3.63	4.91	5.69	5.44	8.35	6.54	7.18
Long-Term Debt to NOPAT	4.64	4.89	4.57	3.87	5.25	5.87	5.49	8.65	6.75	7.45
Altman Z-Score	2.52	2.52	2.59	2.92	2.43	2.32	2.29	2.04	2.09	2.13
Noncontrolling Interest Sharing Ratio	364.58%	560.08%	361.30%	108.24%	196.09%	-122.74%	-48.57%	-32.74%	-27.59%	-23.51%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	1.18	1.38	1.41	1.42	1.44	1.35	1.62	1.56	1.67
Quick Ratio	0.84	0.86	0.99	1.00	1.02	1.03	0.96	1.17	1.11	1.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6,330	5,019	6,079	6,433	6,540	2,555	3,740	1,638	3,150	2,673
Operating Cash Flow to CapEx	215.67%	198.80%	193.90%	250.46%	325.64%	182.83%	189.22%	179.97%	204.82%	195.07%
Free Cash Flow to Firm to Interest Expense	3.07	2.59	3.34	4.08	3.48	1.26	2.13	0.95	1.84	1.48
Operating Cash Flow to Interest Expense	5.10	4.87	4.69	5.68	4.91	3.74	3.85	3.14	3.30	2.57
Operating Cash Flow Less CapEx to Interest Expense	2.74	2.42	2.27	3.41	3.40	1.69	1.82	1.39	1.69	1.25
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.22	1.20	1.17	1.20	1.11	1.22	1.23	1.24	1.25	1.37
Accounts Receivable Turnover	6.82	6.89	7.09	7.76	7.14	7.25	7.02	7.08	7.08	7.53
Inventory Turnover	22.31	14.42	4.62	13.35	12.33	4.74	17.64	4.76	12.85	16.21
Fixed Asset Turnover	2.47	2.44	2.43	2.49	2.24	2.42	2.48	2.55	2.65	2.97
Accounts Payable Turnover	9.85	6.96	2.24	7.00	7.41	3.09	11.25	2.97	8.42	10.48
Days Sales Outstanding (DSO)	53.53	52.95	51.47	47.05	51.11	50.37	51.96	51.58	51.53	48.49
Days Inventory Outstanding (DIO)	16.36	25.31	78.95	27.34	29.61	77.06	20.69	76.73	28.41	22.52
Days Payable Outstanding (DPO)	37.04	52.43	162.62	52.11	49.23	117.97	32.45	122.83	43.34	34.84
Cash Conversion Cycle (CCC)	32.85	25.82	-32.20	22.28	31.49	9.46	40.20	5.48	36.60	36.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	40,422	38,485	35,899	33,731	31,293	31,972	28,807	26,714	24,555	23,091
Invested Capital Turnover	1.79	1.75	1.73	1.81	1.63	1.69	1.68	1.70	1.74	1.95
Increase / (Decrease) in Invested Capital	1,937	2,586	2,168	2,438	-679	3,165	2,093	2,159	1,464	1,388
Enterprise Value (EV)	118,948	112,148	105,370	112,730	85,005	83,064	74,502	62,756	57,929	56,608
Market Capitalization	76,027	71,889	66,704	78,066	53,896	48,284	40,745	29,236	26,072	25,918
Book Value per Share	($9.87)	($6.63)	($9.79)	($3.00)	$1.69	($8.28)	($14.38)	($19.22)	($19.49)	($18.64)
Tangible Book Value per Share	($49.71)	($43.78)	($43.93)	($33.67)	($23.66)	($32.66)	($37.49)	($40.11)	($37.38)	($35.15)
Total Capital	43,586	40,653	38,011	36,068	33,896	33,157	29,903	28,063	25,743	24,442
Total Debt	43,031	39,593	38,084	34,579	31,004	33,722	32,821	33,058	31,376	30,488
Total Long-Term Debt	38,333	37,169	37,714	34,342	30,795	33,577	32,033	32,858	31,160	30,255
Net Debt	39,867	37,425	35,972	32,242	28,789	32,537	31,725	31,709	30,188	29,137
Capital Expenditures (CapEx)	4,875	4,744	4,395	3,577	2,835	4,158	3,573	3,015	2,760	2,375
Debt-free, Cash-free Net Working Capital (DFCFNWC)	4,002	3,761	3,203	2,746	2,045	2,963	2,930	3,287	2,822	3,208
Debt-free Net Working Capital (DFNWC)	5,935	4,696	4,111	4,197	3,838	3,584	3,432	4,019	3,468	3,949
Net Working Capital (NWC)	1,237	2,272	3,741	3,960	3,629	3,439	2,644	3,819	3,252	3,716
Net Nonoperating Expense (NNE)	1,610	1,514	1,413	1,150	1,474	1,575	1,444	1,054	1,182	1,365
Net Nonoperating Obligations (NNO)	39,867	37,425	35,972	32,242	28,401	32,537	31,725	31,709	30,188	29,137
Total Depreciation and Amortization (D&A)	3,347	3,112	2,998	2,880	2,751	2,626	2,309	2,162	2,000	1,939
Debt-free, Cash-free Net Working Capital to Revenue	5.67%	5.79%	5.32%	4.67%	3.97%	5.77%	6.28%	7.54%	6.80%	7.36%
Debt-free Net Working Capital to Revenue	8.41%	7.23%	6.83%	7.14%	7.45%	6.98%	7.35%	9.21%	8.36%	9.06%
Net Working Capital to Revenue	1.75%	3.50%	6.21%	6.74%	7.04%	6.70%	5.66%	8.76%	7.84%	8.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$22.27	$19.25	$19.43	$21.52	$11.10	$10.27	$10.90	$6.12	$7.53	$5.14
Adjusted Weighted Average Basic Shares Outstanding	258.60M	272.40M	290.35M	323.32M	338.27M	341.21M	347.30M	362.31M	383.59M	414.19M
Adjusted Diluted Earnings per Share	$22.00	$18.97	$19.15	$21.16	$10.93	$10.07	$10.66	$5.95	$7.30	$4.99
Adjusted Weighted Average Diluted Shares Outstanding	261.81M	276.41M	294.67M	328.75M	343.61M	348.23M	355.30M	372.22M	395.85M	426.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$10.27	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	248.34M	264.50M	276.97M	303.60M	339.92M	338.43M	342.38M	349.90M	370.15M	396.96M
Normalized Net Operating Profit after Tax (NOPAT)	8,256	7,609	7,211	7,599	5,867	5,705	5,481	3,792	4,598	4,064
Normalized NOPAT Margin	11.69%	11.71%	11.97%	12.93%	11.39%	11.11%	11.74%	8.70%	11.08%	9.32%
Pre Tax Income Margin	12.07%	11.86%	14.24%	16.74%	10.54%	10.22%	11.43%	10.04%	11.59%	9.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.14	4.96	5.69	7.16	3.86	3.56	4.04	3.51	3.78	3.17
NOPAT to Interest Expense	4.01	3.92	4.53	5.62	3.12	2.81	3.32	2.20	2.70	2.26
EBIT Less CapEx to Interest Expense	2.77	2.52	3.28	4.89	2.35	1.51	2.00	1.76	2.17	1.85
NOPAT Less CapEx to Interest Expense	1.65	1.48	2.12	3.36	1.61	0.77	1.29	0.45	1.08	0.94
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.05%	21.36%	24.55%	17.78%	17.76%	26.35%	21.14%	16.33%	12.65%	18.36%
Augmented Payout Ratio	111.81%	83.93%	126.98%	124.18%	27.81%	51.22%	56.00%	91.10%	92.80%	107.27%

This table displays calculated financial ratios and metrics derived from HCA Healthcare's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.66%	5.68%	7.86%	10.28%	11.21%	11.65%	8.30%	7.02%	4.32%	2.87%	-2.00%
EBITDA Growth	4.60%	-2.29%	13.41%	16.21%	12.54%	-19.40%	-0.83%	2.06%	7.32%	22.41%	-31.75%
EBIT Growth	3.52%	-5.31%	14.90%	19.21%	14.91%	-24.42%	-2.15%	1.63%	8.59%	27.22%	-39.20%
NOPAT Growth	1.23%	-5.69%	14.21%	15.18%	14.79%	-25.15%	-2.96%	1.25%	7.95%	31.49%	-38.76%
Net Income Growth	1.28%	-9.40%	16.24%	19.48%	16.79%	-29.67%	-5.13%	2.39%	5.32%	31.97%	-45.63%
EPS Growth	8.77%	-4.39%	24.81%	28.90%	22.27%	-17.78%	0.00%	10.00%	17.15%	27.21%	-44.14%
Operating Cash Flow Growth	-33.13%	-4.30%	41.79%	-20.36%	36.94%	5.82%	-17.91%	51.84%	34.05%	3.44%	32.63%
Free Cash Flow Firm Growth	-311.49%	151.91%	95.38%	-253.17%	223.83%	-141.45%	19.45%	125.15%	81.97%	619.86%	74.52%
Invested Capital Growth	7.44%	5.03%	5.08%	7.45%	5.13%	7.20%	7.33%	3.68%	6.25%	6.43%	8.83%
Revenue Q/Q Growth	0.20%	4.56%	-0.03%	0.88%	0.21%	6.72%	2.22%	1.73%	0.61%	3.51%	1.02%
EBITDA Q/Q Growth	5.25%	8.72%	-8.77%	0.20%	-1.68%	26.18%	-6.51%	-2.97%	-29.58%	55.25%	-3.79%
EBIT Q/Q Growth	6.73%	11.22%	-12.29%	-0.58%	-2.37%	34.96%	-9.00%	-4.16%	-35.79%	74.72%	-5.48%
NOPAT Q/Q Growth	5.89%	13.07%	-9.56%	-6.51%	-1.34%	36.92%	-8.80%	-6.82%	-35.67%	77.51%	-4.85%
Net Income Q/Q Growth	8.24%	13.77%	-12.15%	-6.38%	-3.17%	45.96%	-9.70%	-8.49%	-41.69%	96.88%	-2.54%
EPS Q/Q Growth	13.96%	15.98%	-11.75%	-6.75%	0.17%	51.41%	-8.86%	-11.55%	-32.64%	84.14%	0.26%
Operating Cash Flow Q/Q Growth	-35.48%	-27.20%	78.34%	-20.17%	-7.67%	7.87%	0.16%	37.27%	-28.65%	-16.32%	85.28%
Free Cash Flow Firm Q/Q Growth	-470.99%	512.25%	93.98%	-329.82%	191.06%	63.33%	-299.57%	285.79%	-130.48%	171.27%	37.69%
Invested Capital Q/Q Growth	3.58%	2.06%	-1.49%	3.16%	1.26%	2.11%	0.74%	0.93%	3.26%	2.23%	-2.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.35%	-15.13%	55.05%	84.94%	40.15%	28.52%	53.40%	84.38%	54.56%	172.65%	53.92%
EBITDA Margin	20.34%	19.37%	18.63%	20.41%	20.55%	20.94%	17.71%	19.37%	20.31%	29.01%	19.34%
Operating Margin	15.59%	14.63%	13.76%	15.68%	15.91%	16.33%	12.92%	14.51%	15.40%	24.13%	14.29%
EBIT Margin	15.59%	14.63%	13.76%	15.68%	15.91%	16.33%	12.92%	14.51%	15.40%	24.13%	14.29%
Profit (Net Income) Margin	9.96%	9.22%	8.47%	9.64%	10.39%	10.76%	7.86%	8.90%	9.90%	17.07%	8.98%
Tax Burden Percent	78.43%	79.04%	77.75%	75.41%	80.20%	79.36%	78.22%	78.05%	80.28%	80.13%	78.87%
Interest Burden Percent	81.48%	79.71%	79.22%	81.55%	81.44%	82.98%	77.84%	78.62%	80.05%	88.31%	79.63%
Effective Tax Rate	21.57%	20.96%	22.25%	24.59%	19.80%	20.64%	21.78%	21.95%	19.72%	19.87%	21.13%
Return on Invested Capital (ROIC)	21.65%	20.70%	19.27%	20.83%	22.39%	22.64%	17.53%	19.08%	20.92%	33.45%	20.01%
ROIC Less NNEP Spread (ROIC-NNEP)	20.61%	19.59%	18.25%	19.82%	21.29%	21.60%	16.54%	18.04%	19.84%	32.42%	18.97%
Return on Net Nonoperating Assets (RNNOA)	1,982.42%	937.58%	1,215.96%	834.85%	1,056.56%	1,606.35%	-2,876.48%	-1,965.48%	2,190.24%	1,561.92%	1,202.18%
Return on Equity (ROE)	2,004.07%	958.28%	1,235.23%	855.68%	1,078.95%	1,628.99%	-2,858.95%	-1,946.41%	2,211.16%	1,595.37%	1,222.20%
Cash Return on Invested Capital (CROIC)	13.34%	16.04%	16.77%	13.85%	15.76%	13.50%	15.90%	19.27%	17.26%	17.46%	13.87%
Operating Return on Assets (OROA)	19.11%	17.86%	16.80%	19.32%	19.36%	19.53%	15.38%	17.08%	17.87%	28.17%	16.92%
Return on Assets (ROA)	12.21%	11.25%	10.35%	11.88%	12.64%	12.86%	9.37%	10.48%	11.49%	19.93%	10.63%
Return on Common Equity (ROCE)	-12,366.45%	-2,535.45%	-5,034.94%	-1,855.39%	-2,952.39%	-7,494.69%	-39,706.19%	-17,100.35%	-15,498.65%	-4,168.70%	-4,745.20%
Return on Equity Simple (ROE_SIMPLE)	-189.83%	0.00%	-313.11%	-414.06%	-393.19%	0.00%	-277.59%	-301.56%	-277.03%	0.00%	-183.77%
Net Operating Profit after Tax (NOPAT)	2,240	2,115	1,871	2,069	2,213	2,243	1,638	1,796	1,928	2,996	1,688
NOPAT Margin	12.23%	11.57%	10.70%	11.83%	12.76%	12.96%	10.10%	11.32%	12.36%	19.33%	11.27%
Net Nonoperating Expense Percent (NNEP)	1.04%	1.11%	1.02%	1.01%	1.10%	1.04%	0.99%	1.04%	1.08%	1.03%	1.04%
Return On Investment Capital (ROIC_SIMPLE)	5.07%	4.85%	-	-	-	5.52%	-	-	-	7.88%	-
Cost of Revenue to Revenue	43.65%	115.13%	44.95%	15.06%	59.85%	71.48%	46.60%	15.62%	45.44%	-72.65%	46.08%
SG&A Expenses to Revenue	36.07%	-35.38%	36.45%	64.65%	20.80%	7.77%	35.75%	65.07%	34.10%	152.24%	34.60%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	40.76%	-29.77%	41.29%	69.26%	24.23%	12.18%	40.48%	69.87%	39.16%	148.53%	39.62%
Earnings before Interest and Taxes (EBIT)	2,856	2,676	2,406	2,743	2,759	2,826	2,094	2,301	2,401	3,739	2,140
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,727	3,541	3,257	3,570	3,563	3,624	2,872	3,072	3,166	4,496	2,896
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.20	1.08	1.51	1.23	1.34	1.11	1.05	1.34	1.19	1.11	0.87
Price to Earnings (P/E)	14.85	13.20	17.69	14.67	16.29	13.71	11.61	14.35	12.60	11.82	9.66
Dividend Yield	0.78%	0.88%	0.63%	0.78%	0.74%	0.89%	0.97%	0.77%	0.87%	0.95%	1.19%
Earnings Yield	6.73%	7.58%	5.65%	6.82%	6.14%	7.29%	8.61%	6.97%	7.93%	8.46%	10.35%
Enterprise Value to Invested Capital (EV/IC)	3.13	2.94	3.70	3.13	3.33	2.91	2.83	3.27	3.02	2.94	2.58
Enterprise Value to Revenue (EV/Rev)	1.83	1.68	2.11	1.84	1.94	1.73	1.69	1.98	1.84	1.75	1.51
Enterprise Value to EBITDA (EV/EBITDA)	9.31	8.54	10.47	9.24	9.88	8.81	7.83	8.99	8.24	7.89	7.22
Enterprise Value to EBIT (EV/EBIT)	12.28	11.24	13.66	12.09	12.99	11.66	10.11	11.58	10.61	10.18	9.47
Enterprise Value to NOPAT (EV/NOPAT)	15.82	14.39	17.47	15.43	16.43	14.75	12.74	14.57	13.33	12.78	12.02
Enterprise Value to Operating Cash Flow (EV/OCF)	13.53	11.31	13.80	13.13	12.84	11.89	11.48	12.47	12.45	12.36	10.72
Enterprise Value to Free Cash Flow (EV/FCFF)	24.33	18.79	22.63	23.43	21.65	22.34	18.41	17.30	18.01	17.33	19.35
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-101.77	77.53	54.66	30.53	31.65	37.35	110.21	84.45	167.48	-521.70	-48.47
Long-Term Debt to Equity	-93.74	69.07	48.71	27.11	29.26	35.07	103.06	79.26	157.23	-516.63	-48.19
Financial Leverage	96.16	47.86	66.63	42.12	49.63	74.36	-173.94	-108.94	110.39	48.17	63.36
Leverage Ratio	140.34	71.66	99.78	61.65	73.02	110.08	-251.95	-154.45	162.41	72.87	96.51
Compound Leverage Factor	114.34	57.12	79.04	50.28	59.47	91.34	-196.13	-121.42	130.01	64.35	76.85
Debt to Total Capital	100.99%	98.73%	98.20%	96.83%	96.94%	97.39%	99.10%	98.83%	99.41%	100.19%	102.11%
Short-Term Debt to Total Capital	7.97%	10.78%	10.70%	10.83%	7.30%	5.96%	6.43%	6.08%	6.08%	0.97%	0.59%
Long-Term Debt to Total Capital	93.02%	87.95%	87.50%	85.99%	89.63%	91.43%	92.67%	92.75%	93.32%	99.22%	101.52%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.98%	7.01%	6.78%	6.96%	6.96%	6.97%	7.14%	7.02%	6.98%	7.09%	7.02%
Common Equity to Total Capital	-7.97%	-5.73%	-4.99%	-3.79%	-3.90%	-4.36%	-6.24%	-5.85%	-6.38%	-7.28%	-9.12%
Debt to EBITDA	3.16	3.09	3.07	3.00	3.06	3.11	2.89	2.86	2.86	2.85	3.01
Net Debt to EBITDA	3.00	2.86	2.77	2.85	2.87	2.94	2.74	2.71	2.72	2.69	2.87
Long-Term Debt to EBITDA	2.91	2.75	2.73	2.66	2.83	2.92	2.70	2.68	2.69	2.82	2.99
Debt to NOPAT	5.37	5.21	5.12	5.01	5.09	5.21	4.71	4.63	4.63	4.62	5.01
Net Debt to NOPAT	5.10	4.82	4.62	4.76	4.78	4.92	4.46	4.39	4.39	4.36	4.77
Long-Term Debt to NOPAT	4.95	4.64	4.56	4.45	4.71	4.89	4.40	4.34	4.35	4.57	4.98
Altman Z-Score	2.19	2.08	2.37	2.24	2.31	2.12	2.01	2.24	2.13	2.17	1.91
Noncontrolling Interest Sharing Ratio	717.07%	364.58%	507.61%	316.83%	373.64%	560.08%	-1,288.84%	-778.56%	800.93%	361.30%	488.25%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.19	1.08	1.12	1.06	1.16	1.18	1.15	1.20	1.23	1.38	1.38
Quick Ratio	0.89	0.84	0.86	0.77	0.86	0.86	0.81	0.83	0.86	0.99	0.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-661	178	-43	-718	313	-343	-936	469	-252	828	-1,162
Operating Cash Flow to CapEx	166.60%	199.14%	295.13%	153.86%	220.84%	230.72%	216.13%	199.44%	150.63%	191.01%	267.02%
Free Cash Flow to Firm to Interest Expense	-1.21	0.34	-0.08	-1.42	0.61	-0.70	-1.94	0.97	-0.53	1.83	-2.61
Operating Cash Flow to Interest Expense	3.02	4.85	6.83	3.90	4.82	5.45	5.13	5.10	3.76	5.58	6.77
Operating Cash Flow Less CapEx to Interest Expense	1.21	2.41	4.51	1.36	2.64	3.09	2.76	2.54	1.27	2.66	4.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.23	1.22	1.22	1.23	1.22	1.20	1.19	1.18	1.16	1.17	1.18
Accounts Receivable Turnover	6.78	6.82	7.29	7.21	7.14	6.89	7.12	7.14	7.09	7.09	7.04
Inventory Turnover	21.39	22.31	17.47	17.11	16.44	14.42	11.97	11.49	13.62	4.62	16.86
Fixed Asset Turnover	2.48	2.47	2.48	2.47	2.46	2.44	2.42	2.42	2.42	2.43	2.46
Accounts Payable Turnover	8.58	9.85	7.94	8.39	7.71	6.96	5.82	6.22	7.16	2.24	8.58
Days Sales Outstanding (DSO)	53.87	53.53	50.06	50.61	51.16	52.95	51.24	51.11	51.49	51.47	51.84
Days Inventory Outstanding (DIO)	17.06	16.36	20.90	21.33	22.20	25.31	30.49	31.76	26.81	78.95	21.65
Days Payable Outstanding (DPO)	42.57	37.04	45.97	43.51	47.34	52.43	62.66	58.71	51.01	162.62	42.57
Cash Conversion Cycle (CCC)	28.37	32.85	24.98	28.43	26.01	25.82	19.07	24.17	27.29	-32.20	30.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	41,871	40,422	39,605	40,203	38,970	38,485	37,691	37,416	37,070	35,899	35,117
Invested Capital Turnover	1.77	1.79	1.80	1.76	1.75	1.75	1.74	1.68	1.69	1.73	1.77
Increase / (Decrease) in Invested Capital	2,901	1,937	1,914	2,787	1,900	2,586	2,574	1,327	2,180	2,168	2,850
Enterprise Value (EV)	131,205	118,948	146,676	125,951	129,685	112,148	106,542	122,522	111,820	105,370	90,432
Market Capitalization	85,815	76,027	104,889	84,148	89,100	71,889	66,374	82,803	72,255	66,704	51,945
Book Value per Share	($14.17)	($9.87)	($8.46)	($6.11)	($6.11)	($6.63)	($9.11)	($8.37)	($9.01)	($9.79)	($11.74)
Tangible Book Value per Share	($55.39)	($49.71)	($47.13)	($44.15)	($43.80)	($43.78)	($45.06)	($43.40)	($43.63)	($43.93)	($45.37)
Total Capital	44,138	43,586	43,751	42,219	41,461	40,653	39,703	39,393	39,088	38,011	36,932
Total Debt	44,576	43,031	42,965	40,880	40,191	39,593	39,346	38,932	38,856	38,084	37,710
Total Long-Term Debt	41,057	38,333	38,283	36,306	37,163	37,169	36,793	36,537	36,478	37,714	37,492
Net Debt	42,309	39,867	38,819	38,864	37,700	37,425	37,334	36,955	36,838	35,972	35,895
Capital Expenditures (CapEx)	991	1,285	1,191	1,281	1,118	1,159	1,147	1,241	1,197	1,323	1,131
Debt-free, Cash-free Net Working Capital (DFCFNWC)	5,086	4,002	3,556	4,615	3,885	3,761	3,549	3,876	4,049	3,203	2,916
Debt-free Net Working Capital (DFNWC)	6,146	5,935	6,444	5,446	5,169	4,696	4,440	4,738	4,891	4,111	3,915
Net Working Capital (NWC)	2,627	1,237	1,762	872	2,141	2,272	1,887	2,343	2,513	3,741	3,697
Net Nonoperating Expense (NNE)	415	429	389	382	411	382	363	384	385	350	344
Net Nonoperating Obligations (NNO)	42,309	39,867	38,819	38,864	37,700	37,425	37,334	36,955	36,838	35,972	35,895
Total Depreciation and Amortization (D&A)	871	865	851	827	804	798	778	771	765	757	756
Debt-free, Cash-free Net Working Capital to Revenue	7.10%	5.67%	5.11%	6.75%	5.82%	5.79%	5.62%	6.26%	6.65%	5.32%	4.88%
Debt-free Net Working Capital to Revenue	8.59%	8.41%	9.26%	7.97%	7.75%	7.23%	7.03%	7.65%	8.03%	6.83%	6.55%
Net Working Capital to Revenue	3.67%	1.75%	2.53%	1.28%	3.21%	3.50%	2.99%	3.78%	4.13%	6.21%	6.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.52	$5.72	$4.94	$5.60	$6.01	$6.00	$3.98	$4.35	$4.92	$7.30	$3.97
Adjusted Weighted Average Basic Shares Outstanding	246.94M	258.60M	256.76M	261.16M	264.44M	272.40M	271.17M	274.49M	276.91M	290.35M	285.96M
Adjusted Diluted Earnings per Share	$6.45	$5.66	$4.88	$5.53	$5.93	$5.92	$3.91	$4.29	$4.85	$7.20	$3.91
Adjusted Weighted Average Diluted Shares Outstanding	249.44M	261.81M	259.92M	264.07M	268.02M	276.41M	275.42M	278.20M	280.96M	294.67M	289.85M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	240.57M	248.34M	253.30M	258.07M	261.91M	264.50M	267.66M	271.99M	275.19M	276.97M	282.72M
Normalized Net Operating Profit after Tax (NOPAT)	2,239	2,269	1,874	2,060	2,051	2,237	1,636	1,795	1,940	1,934	1,690
Normalized NOPAT Margin	12.22%	12.41%	10.72%	11.77%	11.83%	12.93%	10.09%	11.32%	12.44%	12.48%	11.29%
Pre Tax Income Margin	12.70%	11.67%	10.90%	12.79%	12.96%	13.55%	10.05%	11.41%	12.33%	21.31%	11.38%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.22	5.07	4.67	5.42	5.39	5.76	4.34	4.74	5.01	8.25	4.80
NOPAT to Interest Expense	4.09	4.01	3.63	4.09	4.32	4.57	3.39	3.70	4.02	6.61	3.78
EBIT Less CapEx to Interest Expense	3.41	2.63	2.36	2.89	3.21	3.40	1.96	2.19	2.51	5.33	2.26
NOPAT Less CapEx to Interest Expense	2.28	1.57	1.32	1.56	2.14	2.21	1.02	1.14	1.53	3.69	1.25
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.92%	21.05%	19.88%	19.83%	20.09%	21.36%	23.69%	24.32%	24.48%	24.55%	23.30%
Augmented Payout Ratio	132.22%	111.81%	96.75%	89.22%	85.37%	83.93%	87.97%	81.60%	107.60%	126.98%	145.26%

Frequently Asked Questions About HCA Healthcare's Financials

When does HCA Healthcare's financial year end?

According to the most recent income statement we have on file, HCA Healthcare's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has HCA Healthcare's net income changed over the last 9 years?

HCA Healthcare's net income appears to be on an upward trend, with a most recent value of $6.66 billion in 2024, rising from $2.70 billion in 2015. The previous period was $6.09 billion in 2023. See where experts think HCA Healthcare is headed by visiting HCA Healthcare's forecast page.

What is HCA Healthcare's operating income?

HCA Healthcare's total operating income in 2024 was $10.58 billion, based on the following breakdown:

Total Gross Profit: $28.68 billion
Total Operating Expenses: $18.09 billion

How has HCA Healthcare revenue changed over the last 9 years?

Over the last 9 years, HCA Healthcare's total revenue changed from $43.59 billion in 2015 to $70.60 billion in 2024, a change of 62.0%.

How much debt does HCA Healthcare have?

HCA Healthcare's total liabilities were at $58.96 billion at the end of 2024, a 6.9% increase from 2023, and a 52.0% increase since 2015.

How much cash does HCA Healthcare have?

In the past 9 years, HCA Healthcare's cash and equivalents has ranged from $502 million in 2018 to $1.93 billion in 2024, and is currently $1.93 billion as of their latest financial filing in 2024.

How has HCA Healthcare's book value per share changed over the last 9 years?

Over the last 9 years, HCA Healthcare's book value per share changed from -18.64 in 2015 to -9.87 in 2024, a change of -47.1%.

Related Companies

This page (NYSE:HCA) was last updated on 5/28/2025 by MarketBeat.com Staff

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HCA Healthcare (HCA) Financials

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HCA Healthcare (HCA) Financials

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