HCA Healthcare
HCA NYSE· Health Care Facilities
Last close · Oct 26, 2026
$465.26
KIRA · Stoqly’s AI analyst, in plain words
- HCA Healthcare had $75.6B of revenue in fiscal 2025, up 7.1% on the year before. Over five years, revenue changed +8.0% a year on average.
- HCA Healthcare made $6.8B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 16.3% a year.
- Free cash flow was $7.7B in fiscal 2025, 10.2% of revenue.
- HCA Healthcare returned $10.7B to shareholders in fiscal 2025, 140% of free cash flow. The diluted share count fell 8.5%.
- HCA Healthcare owes $46.2B more than it holds in cash, about 3.0 years of operating profit.
Market cap
$105.5B
P/E
16.0x
Revenue
$75.6B
Net income
$6.8B
Free cash flow
$7.7B
Operating margin
—
HCA Healthcare in 30 seconds · fiscal 2025
Are sales growing?
+7.1%
Yes. Sales grew 7.1% last year.
Does it make a profit?
9.0%
A little. It keeps 9.0% of every sale as profit.
Does profit turn into cash?
10.2%
Yes. 10.2% of sales ends up as free cash.
Is debt under control?
3.0x
Keep an eye on it. Repaying its debt would take 3.0 years of operating profit.
How healthy are the accounts?
6 / 8
Mixed. It passes 6 of 8 health tests.
How is the share priced?
16.0x
One share costs 16.0 times its yearly profit per share. Typical for its sector: 28.4x.
What HCA Healthcare does
HCA Healthcare runs hospitals and other health care facilities in 19 U.S. states and England. At the end of 2025 it operated 190 hospitals: 179 general acute care hospitals, seven behavioral hospitals and four rehabilitation hospitals. It also ran 121 freestanding ambulatory surgery centers and 31 freestanding endoscopy centers. Its general hospitals provide medical services such as internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, plus diagnostic and emergency care. It also provides outpatient care through surgery centers, emergency and urgent care facilities, walk-in clinics, physician practices, diagnostic centers, home health agencies, hospices and rehabilitation facilities. The behavioral hospitals provide mental health care. HCA earns its money by charging for care, paid for by government programs, private insurers and patients.
Biggest risks, in its own words
- Significant debt, and the need to generate cash to pay it or refinance it.
- Competition for nurses, physicians and other health care workers, and a shortage of experienced staff.
- Changes in government health care programs that could cut its revenue.
- Government investigations, claims and lawsuits over billing and compliance with laws such as the Anti-kickback Statute.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 10, 2026
- Legal name
- HCA Healthcare, Inc.
- CIK
- 0000860730
HCA Healthcare · HCA
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $58.8B | $60.2B | $65.0B | $70.6B | $75.6B |
| Revenue growth | 14.0% | 2.5% | 7.9% | 8.7% | 7.1% |
| Net income | $7.0B | $5.6B | $5.2B | $5.8B | $6.8B |
| Net margin | 11.8% | 9.4% | 8.1% | 8.2% | 9.0% |
| Diluted EPS | $21.16 | $19.15 | $18.97 | $22.00 | $28.33 |
| Cash | |||||
| Cash from operations | $9.0B | $8.5B | $9.4B | $10.5B | $12.6B |
| Capital expenditure | $3.6B | $4.4B | $4.7B | $4.9B | $4.9B |
| Free cash flow | $5.4B | $4.1B | $4.7B | $5.6B | $7.7B |
| FCF margin | 9.2% | 6.9% | 7.2% | 8.0% | 10.2% |
| Dividends paid | $624M | $653M | $661M | $690M | $679M |
| Share buybacks | $8.2B | $7.0B | $3.8B | $6.0B | $10.1B |
| Share count change | −4.3% | −10.4% | −6.2% | −5.3% | −8.5% |
| Debt and strength | |||||
| Cash and short-term investments | $1.6B | $908M | $935M | $1.9B | $1.0B |
| Debt incl. finance leases | $35.3B | $38.8B | $40.3B | $43.8B | $47.3B |
| Shareholders' equity | −$933M | −$2.8B | −$1.8B | −$2.5B | −$6.0B |
| Net debt / EBITDA | 2.4x | 2.9x | 3.1x | 3.0x | 3.0x |
| Current ratio | 1.4x | 1.4x | 1.2x | 1.1x | 1.0x |
| Interest coverage | 7.3x | 5.9x | 5.0x | 5.1x | 5.4x |
| Returns and quality | |||||
| Return on capital | 26.4% | 22.5% | 19.5% | 20.0% | 22.3% |
| Piotroski F-score | 6 | 4 | 6 | 6 | 6 |
| Altman Z'' | 2.0 | 1.7 | 1.4 | 1.2 | 0.9 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$31.1M
5 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
HCA Healthcare · HCA
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| HCA Healthcare HCA | $105.5B | 7.1% | — | 10.2% | 22.3% | 16.0x | 6 |
| UnitedHealth UNH | $372.1B | 11.8% | 4.2% | 3.6% | 11.2% | 26.4x | 7 |
| Johnson & Johnson JNJ | $652.1B | 6.1% | — | 20.9% | 28.6% | 40.4x | 4 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $465.26 a share, the company is worth $105.5B: 16.0 times its earnings of the last four quarters.
HCA Healthcare grew sales faster than 1 of its 2 similar companies. Its P/E is higher than 0 of 2.
Source: SEC EDGAR XBRL filings (CIK 0000860730). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.