HCA Healthcare, Inc. (HCA)

HCA Healthcare, Inc., through its subsidiaries, provides health care services in the United States. The company owns, manages, and operates hospitals, ASCs, freestanding emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, radiation and oncology therapy centers, as well as rehabilitation and physical therapy centers, physician practices, home health agencies, hospices, outpatient physical therapy providers, home and community-based services providers, and various other facilities. Its general and acute care hospitals offer medical and surgical services, including inpatient care, intensive care, cardiac care, diagnostic services, and emergency services; and outpatient services, such as outpatient surgery, laboratory, radiology, respiratory therapy, cardiology, and physical therapy. The company was formerly known as HCA Holdings, Inc. HCA Healthcare, Inc. was founded in 1968 and is headquartered in Nashville, Tennessee.

Symbol: HCA
Exchange: NYSE
Sector: Healthcare
Industry: Medical Care Facilities
Market cap: $94.95B
52 week range: 353.99 - 556.52

Valuation

Share price: $426.69 (close of 2026-10-02)
P/E (TTM): 14.50x
Price to book: -31.88x
Price to free cash flow: 11.98x
Enterprise value: $143.86B
Book value per share: $-13.38

Price performance

Period	Change
1 day	+0.78%
5 days	-2.05%
1 month	+6.13%
3 months	+3.94%
6 months	-9.57%
Year to date	-8.60%
1 year	0.00%
3 years	+72.60%
5 years	+72.20%
10 years	+464.18%
All time	+1275.53%

Members of Congress who disclosed HCA trades

Jared Moskowitz · Lisa McClain · Val Hoyle · Alan Armstrong · Julie Johnson · Robert Bresnahan

Super investors holding HCA

First Eagle Investment (First Eagle Investment Management, LLC) · Ray Dalio (Bridgewater Associates) · Ken Griffin (Citadel) · Bill Nygren (Harris Associates LP) · Richard Pzena (Pzena Investment Management) · Glenn Greenberg (Brave Warrior Advisors, LLC)

Profitability and growth

Return on equity: -244.82%
Return on assets: 11.17%
Net margin: 8.97%
EBITDA margin: 19.32%
Revenue growth: 7.08%
Net income growth: 17.78%
Free cash flow growth: 36.41%

Cash flow and balance sheet

Free cash flow yield (TTM): 8.35%
Current ratio: 0.83x
Net debt to EBITDA: 3.12x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $75.60B
EBITDA: $14.61B
Net income: $6.78B
Earnings per share: $28.70
Interest expense: $2.25B
Shares outstanding: 236.41M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$75.60B	$6.78B	$28.70
2024-12-31	$70.60B	$5.76B	$22.27
2023-12-31	$64.97B	$5.24B	$19.25
2022-12-31	$60.23B	$5.64B	$19.43
2021-12-31	$58.75B	$6.96B	$21.52
2020-12-31	$51.53B	$3.75B	$11.10
2019-12-31	$51.34B	$3.50B	$10.27
2018-12-31	$46.68B	$3.79B	$10.90
2017-12-31	$43.61B	$2.22B	$6.12
2016-12-31	$41.49B	$2.89B	$7.53

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	8.97%	-244.82%
2024-12-31	8.16%	1037.84%
2023-12-31	8.07%	494.53%
2022-12-31	9.37%	-7730.14%
2021-12-31	11.84%	467.16%
2020-12-31	7.28%	129.81%
2019-12-31	6.83%	-620.35%
2018-12-31	8.11%	-129.78%
2017-12-31	5.08%	-44.36%
2016-12-31	6.97%	-51.30%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.04B	$41.60B
2024-12-31	$1.93B	$38.33B
2023-12-31	$935.00M	$37.17B
2022-12-31	$908.00M	$37.71B
2021-12-31	$1.45B	$34.34B
2020-12-31	$1.91B	$30.80B
2019-12-31	$768.00M	$33.58B
2018-12-31	$549.00M	$32.03B
2017-12-31	$786.00M	$32.86B
2016-12-31	$695.00M	$31.16B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$7.69B	$401.00M
2024-12-31	$5.64B	$360.00M
2023-12-31	$4.69B	$262.00M
2022-12-31	$4.13B	$341.00M
2021-12-31	$5.38B	$440.00M
2020-12-31	$6.40B	$362.00M
2019-12-31	$3.44B	$347.00M
2018-12-31	$3.19B	$268.00M
2017-12-31	$2.41B	$270.00M
2016-12-31	$2.89B	$251.00M

Dividend history

Most recent payment: 2026-09-16
Paid in the last twelve months: $3.06

Payment date	Dividend per share
2026-09-16	$0.78
2026-06-16	$0.78
2026-03-17	$0.78
2025-12-15	$0.72
2025-09-16	$0.72
2025-06-16	$0.72
2025-03-17	$0.72
2024-12-13	$0.66

Investor relations

Next earnings report

Next confirmed report: 2026-10-27
Consensus EPS estimate: $6.73

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-24	Jun/2026	$7.57
2026-04-24	Mar/2026	$7.17
2026-01-27	Dec/2025	$7.36
2025-10-24	Sep/2025	$5.65
2025-07-25	Jun/2025	$6.19
2025-04-25	Mar/2025	$5.77
2025-01-24	Dec/2024	$5.97
2024-10-25	Sep/2024	$4.97

Filings and sources

Company website: hcahealthcare.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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